LVMH PROPOSES: Hubert Vedrine, the former French foreign minister who coined the word “hyperpower” in reference to the U.S., has been nominated as an independent member of LVMH Moët Hennessy Louis Vuitton’s board. The French luxury group said Tuesday that Vedrine’s candidacy would be proposed at its annual shareholders meeting on May 13. Known for his candor, Vedrine, who has penned several books on international affairs, served from 1997 to 2002 as foreign minister to Socialist Prime Minister Lionel Jospin. He is best remembered for saying that, unchecked, American political and economic dominance would be dangerous to the world.
LEAVE YOUR HEART AT AMERICASMART: Tony Bennett will perform April 16 during the April 15-19 women’s market in Atlanta. The concert, most likely to be held in the Grand Atrium at 6:15 p.m., is free for attendees. During the Eighties, markets regularly included lavish concerts and parties. The renewed interest in entertainment was inspired by AmericasMart’s gift show last July, which featured the Beach Boys in concert. “People still talk about that,” said Jeff Portman, president and chief operating officer, AmericasMart. “We polled [apparel] buyers on entertainers they’d most like to see. Tony Bennett was number one.” Portman said the event will draw local VIPS and designers, along with exhibitors and buyers. “We’re all in show business,” said Portman. “It’s nice for buyers and exhibitors to be entertained by someone else’s show.”
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BEBE STOCK SPLIT: Bebe Stores Inc. declared a 3-for-2 stock split on Tuesday. The Brisbane, Calif.-based retailer said each share of its current stock held by shareholders of record at the close of business on April 21 will be converted into 1.5 shares of common stock on May 5. Bebe said it will have about 39 million shares outstanding following the split. In addition, Bebe will increase its authorized number of shares of common stock from 40 million to 60 million concurrent with the stock split.
NO WAIT FOR JONES: Jones Apparel Group Inc. on Tuesday said it has received early termination of the waiting period required under federal antitrust law in connection with the tender offer by MSC Acquisition Corp., a Jones subsidiary, for the outstanding Class A shares of Maxwell Shoe Co. Inc., along with the associated preferred stock purchase rights. The early termination satisfies one of the conditions to the MSC offer. As reported, MSC commenced a tender offer last month at a price of $20 per share in cash. The offer and withdrawal rights are set to expire on April 19 at midnight EDT, unless extended.