The beleaguered Warnaco Group surprised observers recently when it said it would emerge from bankruptcy protection in early 2003 as a standalone company, with much of its stable of brands remaining.Upon exiting bankruptcy, Warnaco will hold $265 million in debt, which includes senior subordinated notes, plus its borrowings under an exit facility. At its peak, Warnaco’s capitalization in June 1998 was $2.8 billion. The company’s bread-and-butter brands include Warner’s, Olga, Bodyslimmers, Lejaby, and of course, Calvin Klein Underwear for men and women, which it owns outright, and a long-term license for CK Jeanswear.There are several big questions for 2003. Following Phillips-Van Heusen Corp.’s acquisition of Calvin Klein Inc. this month for $700 million, the relationship with Warnaco will likely be tested.PVH told WWD it had a "full plate" and was currently not looking to buy the Calvin Klein businesses at Warnaco, and a deal with VF Corp. was thwarted by Klein and the Warnaco board voting it down in December.Warnaco acquired Klein’s men’s underwear business and trademarks for men’s accessories worldwide from the designer’s company in March 1994 in a deal worth $64 million, plus ongoing fees. As part of the deal, Warnaco took over the Calvin Klein women’s underwear business in 1995.In 1997, Warnaco acquired Designer Holdings Inc., maker of Calvin Klein Jeanswear, in a deal worth about $354 million. The pact gave Warnaco one-third of the $2.5 billion Calvin Klein empire.Warnaco’s board will soon need to name a new chief executive officer. Tony Alvarez, the ceo hired in November 2001 to lead the company through its bankruptcy, is expected to return to the turnaround firm Alvarez & Marshal after a completed reorganization.Industry observers said it most likely will come down to two candidates: John Kourakos, president of the Sportswear Group, which includes the Chaps by Ralph Lauren men’s wear label and the Calvin Klein Underwear and Jeanswear businesses, and Tom Wyatt, president of the Warnaco Intimate Apparel Group.
La Double J made a name for itself with its vintage-inspired prints, but for resort, designer JJ Martin has ventured into new territory: enter rich jewel toned solids and decadent embellishment, in the form of appliqués, crystals and sequins. #wwdfashion #resort19 #ladoublej
This Just In: J. Crew Group has named Johanna Uurasjarvi as its chief design officer.
Uurasjarvi succeeds Somsack Sikhounmuong, who left the company last September. Tap the link in bio for the full report. #wwdnews
“She came into my hotel room and she was like, ‘I have Chanel and Christian Dior.’ She was like, ‘Chanel likes you.’ And I was like, ‘I’m going to start crying,’” breakout star Maddie Hasson tells WWD of her styling sessions Molly Dickson. “I really like classic, elegant things. I love the way Anna Wintour dresses.” Read more about Hasson’s role in @impulseseries on wwd.com. (📸: @jgreenery ) #wwdeye
@virgilabloh revealed he's working with Australian stylist and
Vogue Australia fashion director @christinecentenera for his debut @louisvuitton men's collection, which will be presented in Paris on June 21. Centenera met Abloh while both working with Kanye West, where she consulted on his all his runway collections since his debut spring 2012 women's wear show. Read the full story on WWD.com. #wwdfashion #wwdnews (📷: @asussmanphoto)
"In order for Shudu to wear garments, she needs to be able to put them on, just like you would in the real world. You have to digitize the outfits," said Cameron-James Wilson on dressing 3-D model @shudu.gram for her WWD photoshoot with @itsclo3d. #wwdfashion (📸: @cjw.photo)
“Shudu is a digital supermodel, a very glamour and amazing woman. But she’s 3-D,” says Cameron-James Wilson, a fashion photographer and the creature of @shudu.gram. Here, Shudu wears @cushnieetochs for her debut fashion editorial. #wwdfashion (📷: @cjw.photo)
“It is the fierce female performances that came before me that made be able to clearly identify for myself what it was that I wanted to do, what kind of artist I wanted to be, what kind of films I wanted to make,” said @brielarson at the Women in Film Crystal + Lucy Awards. See more pictures from the event on WWD.com. #wwdeye (📷: Matt Baron)