TOKYO — Onward Holdings said Friday that its nine-month net profit grew at a double-digit pace as it booked gains from reorganizing its tax structure. The company’s net profit for the nine months ended Nov. 30 rose 24.2 percent to 5.76 billion yen, or $58.55 million at average exchange rate for the period. Onward said its nine-month operating profit fell by 5.4 percent to 10.12 billion yen, or $102.95 million. It attributed this to costs associated with reorganization it has undergone in an effort to strengthen its business and increase customer satisfaction. The company’s sales increased 7.4 percent to 205.44 billion yen, or $2.09 billion. The company behind such brands as Jil Sander and Chacott said that it has been seeing some economic recovery in Japan, thanks to a combination of government stimulation measures, a weaker yen, stronger corporate earnings and increased consumer spending. But it also warned it has seen consumer spending take a hit since October, which it attributed to poor weather and a looming retail tax increase due next April.
Mary J. Blige will be featured in ads for her friend, designer Dennis Basso. Of Blige, Basso tells WWD’s Rosemary Feitelberg, “She’s a modern day woman, extremely talented, very beautiful and she represents a powerful woman.” #wwdnews
Just In: In September, @bottegaveneta will be skipping a runway show. Instead, newly-appointed creative director Daniel Lee will make his debut for the brand in Milan next February. Lee succeeded former creative director Tomas Maier, who held the position for 17 years. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
The Gucci-Dapper Dan lineup, which launched today, reimagines archival pieces of the designer — especially tracksuits and jacket styles — in Gucci’s signature fabrics and decorative elements. Gucci leitmotifs, including embroidered dragons, bold letterings and the house’s signature green and red stripes, stand out on bomber jackets, T-shirts and tanks, in addition to tracksuits, which are offered in GG-printed nylon and velour. A new yellow Gucci logo also makes its appearance, inspired by the original sign of Dan’s Harlem store, reports @sandrasalibian. (📸: @ari_marcopoulos_official ) #wwdfashion
Candice Swanepoel’s line, Tropic of C is one of many modern, chic swimwear brands that use Econyl, a fabric made from regenerated nylon that is rescued from things like fishing nets, carpets and plastic landfills and remade into textiles for apparel and carpets. Other swim brands using Econyl include All Sisters, Mara Hoffman, Araks, Adidas and Volcom, to name a few, reports @jessiredale. Read more on sustainable swimwear on WWD.com. Styled by @elmercer (📸: @chrismiggs) #wwdnews
As the veil lifts on the topic of feminine care, modernized vagina-centric products such Queen V The Spritzer Rosewater Spray and vibrators from Smile Makers and Dame Products are growing in availability report @_a_collins and @ellenbthom. Read more on WWD.com #wwdbeauty (📸: @joshuascottphoto)