TENDER GOES IT: Adidas-Salomon announced Wednesday an offer to purchase the 20.8 percent of Salomon & Taylor Made Co. it doesn’t already own. The offer for shares in the maker of its secondary brands is expected to last 43 days. Adidas-Salomon touted full ownership as a route to operational efficiency and Japanese expansion.
COATS WILL WAIT: BCBG Max Azria and its licensing partner Winlit Group Ltd. have postponed the launch of the BCBG Max Azria outerwear collection for women until fall 2005. Men’s will follow a season or two later. Originally slated to bow for women this fall, the line was delayed due to a late start in the companies’ creative schedules. The collection will offer furs, rainwear, leathers, luxury wools and active styles and is expected to wholesale from $110 to $440.
GARDENS GROW: Forbes Co. will begin renovating The Gardens of the Palm Beaches Mall in Palm Beach Gardens, Fla., this fall. The 1.4-million-square-foot mall opened in 1988, and is anchored by Saks Fifth Avenue, Macy’s, Bloomingdale’s and Sears, with about 160 special shops and restaurants. A 144,000-square-foot Nordstrom will open in spring 2006 in a portion of the 215,000-square-foot Burdine’s space. After closing this summer, most of the Burdine’s building will be demolished and rebuilt by Nordstrom. The remaining space will be used for around 12 mall stores that will open in February 2006. Macy’s will add 90,000 square feet of home furnishings and furniture to its current 215,000-square-foot store, which will be officially renamed Burdine’s-Macy’s and open in 2006. The existing Saks store will add around 35,000 square feet of space. The Nordstrom store will be its seventh Florida location and the third in Palm Beach County. A Nordstrom will also open in November at Dadeland Mall in Miami. Though not a part of the renovation, specialty store openings at The Gardens this May include Louis Vuitton, Tiffany & Co. and Tommy Bahama.
JONES SUES MAXWELL: Jones Apparel Group Inc. and MSC Acquisition Corp., an indirect wholly owned subsidiary of Jones, have filed a lawsuit in the Court of Chancery of the State of Delaware against the Maxwell Shoe Co. Inc. and its board of directors. The lawsuit charges that Maxwell and its board’s attempt to set a deadline of March 25, 2004, for any possible future solicitation of Maxwell’s stockholders by Jones or MSC is improper because the solicitation has yet to begin. The lawsuit charges the action is invalid under Delaware law, and violates Maxwell’s Certificate of Incorporation. As reported, Jones is trying to purchase Maxwell and has offered shareholders $20 a share.