End in Sight For GFT: At a shareholders meeting in Torino, Italy, this week, GFT Net’s president, Roberto Jorio Fili , spoke for the first time about the end of the historic production company. Fili said once Valentino and Facis are sold by parent company HdP, GFT will shut down. Valentino and Facis are the only remaining clothing licenses at GFT, which once produced clothing for Giorgio Armani and Antonio Fusco. Fili added that he is committed to saving the jobs of GFT’s 450 employees and hopes that the future owners of Valentino and Facis will keep them on board.
Ring The Bell: The New York Stock Exchange will help kick off Mercedes Benz Fashion Week in true style, as Terry Lundgren, president of Federated Department Stores, rings the opening bell at 9 a.m. this morning, accompanied by Peter Arnold, executive director of the CFDA, and Sean John creator and president Sean (P. Diddy) Combs.
Global Nets Profit: Global Sports Interactive just joined the rarified ranks of dot-coms that have achieved net profit by generally accepted accounting principles: The e-commerce services provider said Wednesday that it had bottom-line income of $300,000, or 1 cent a share, on revenue that more than doubled to reach $51 million, for the fourth quarter ended Dec. 29. For the full year, Global — whose partners include Kmart’s BlueLight.com, Ashford.com and thesportsauthority.com — cut its net loss to $31 million from a loss of $58 million in 2000, as sales more than doubled to $103 million.
Klensch Is Back: Elsa Klensch will host her second season of the Trio World Fashion Tour, an international fashion news series, which premieres Sunday, Feb. 24 at 7 p.m. The show features interviews with designers such as Calvin Klein, Donna Karan, Marc Jacobs, Ralph Lauren, Nicolas Ghesquiere, Carolina Herrera and Diane Von Furstenberg. In addition, the series will highlight a behind-the-scenes look at Tommy Hilfiger’s new SoHo store here, featuring a private fitting for model Jason Shaw, and designer events such as Carolina Herrera’s fragrance launch. “I’m so pleased to be back,” said Klensch, who did a similar series for last season’s shows. “The fashion industry needs as much support as we can possibly give it.”