As expected, Terry J. Lundgren is officially retiring from Macy's Inc. and its board on Jan. 31, at which time Jeffrey Gennette, chief executive officer, will add the title of chairman.Last March, Lundgren stepped down as chairman and ceo, and has since been executive chairman. Gennette became ceo in March.Marna Whittington remains Macy's lead independent director. Following Lundgren's retirement, the board will have 10 directors."I am proud of our company's growth, accomplishments and the talent we developed during the 14 years I have led Macy's Inc.," Lundgren said. "I have worked closely with Jeff and his team over the past two years, focusing on the changes and vision required for future success. I am confident that the company has the strategies, resources, talent and leadership to capitalize on the fundamental shifts in consumer shopping patterns we have all experienced. I continue to be impressed with Jeff's leadership, his decisiveness and his engagement with all levels of our outstanding organization."Lundgren has been one of the nation's highest-profile retail executives. Chairing the National Retail Federation twice added to his stature.During his tenure as ceo, Macy's made several bold moves, including buying May Department Stores, thereby doubling the size of the company; taking the company overseas for the first time by locking in licensed Bloomingdale's stores in the Mideast; localizing assortments, and rolling out leased shops within Macy's stores to broaden the assortment, such as with Finish Line, Apple and Sunglass Hut. Many vendors credit him with bringing some sizzle back to Macy’s selling floors, and steering the company successfully through tough recession years. Most of his years in command at Macy's were marked by sales and profit gains. Lundgren himself considers one of his most important accomplishments providing for succession planning, having elevated Gennette and preparing him to take over, well in advance.Lundgren became ceo in February 2003 and chairman and ceo in January 2004. Earlier, he was president, a title he also assumed in February 2003."Terry has been an outstanding leader for Macy's and an inspiration for the industry. I thank him for the guidance he has given me during this transition period and wish him all the best in his well-deserved retirement from Macy's Inc.," said Gennette. "We've made good progress this year on the path to return Macy's to growth and drive shareholder value for the long term. We are working hard to close the year out strong and head into 2018 with momentum."
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)