STEVE’S SENTENCE STRUCTURE: Footwear magnate Steve Madden is set to be sentenced today in Manhattan federal court for his role in a stock manipulation scheme involving 22 IPOs, including the one that took his own firm public. As reported, Madden was charged in June 2000, and pled guilty in May 2001, to federal charges of security fraud and money laundering in both Manhattan and Brooklyn. As part of his plea, he agreed to forfeit $3 million and pay at least $5.18 million in restitution. According to federal guideline estimates, Madden faces jail time of between 41 and 51 months, subject to court approval. Madden’s Brooklyn sentencing is tentatively set for April 26.
NOT HAPPENING: Marks & Spencer has dashed recent press speculation that it’s ready to name Roger Holmes, who is currently managing director of its U.K. operations, chief executive officer. Press reports this week speculated that the retailer was set to announce Holmes as a replacement for Luc Vandevelde — who is currently chairman and ceo — and that Vandevelde would become nonexecutive chairman. Vandevelde, who has been with Marks & Spencer since 2000, is currently spearheading a turnaround at the company, and the company said he will continue to do so in his dual roles.
SILVER LINING: Lacoste and Barneys New York have teamed up with a benefit planned for the U.S. Fund for UNICEF on May 9, for which Lacoste is reviving one of its classic styles with a silver version of its signature alligator. Several celebrities are customizing Lacoste’s polo shirt for auction, including submissions expected from UNICEF spokeswomen Tea Leoni, Sarah Jessica Parker and Claudia Schiffer, plus Matt Damon, Donatella Versace, Chloe Sevigny, Christina Ricci, Christy Turlington, Patricia Field, Debi Mazar and Marie Chantal. Lacoste is also designing a numbered edition of black polo shirts — 212 each for men and women — with the silver alligator, $100 at Barneys, plus a broader range of $80 shirts in red, white or navy.