WALL STREET SHRUGS: Shares of Liz Claiborne Inc. fell 0.9 percent on Monday, after WWD reported that the company was in the final stages of negotiations with Patrick Bousquet-Chavanne, a group president at the Estée Lauder Cos. Inc., to succeed Paul Charron, who is retiring. Shares of the apparel supplier closed at $37.42 on lighter-than-average trading volume. Shares of the Estée Lauder Cos. closed the day down 1.9 percent to $38.20. Investors were focused on broader trends, worrying over possible interest rate hikes and the impact on corporate profits. As a result, the Dow Jones Industrial Average shed 0.9 percent to 10,792.58 while the S&P 500 lost 2.1 percent to 2,091.32.
BENSUSAN IN AT DE BEERS LV: De Beers LV has named Selda Bensusan as public relations director in the U.S. She replaces Joan Parker, who is leaving the company this month. Bensusan reports to Alyce Alston, De Beers LV’s chief executive officer of the U.S. Bensusan joins De Beers LV after two years as director of p.r. at Cesare Paciotti.
AMERICAN ON THE MOVE: American Apparel is making moves in the city. The retailer, represented by PBS Realty Advisors, just inked a 15-year lease on a 5,200-square-foot space at 142 Fifth Avenue, in Manhattan’s Flatiron District. Last month, it subleased 2,500 square feet at 2831 Broadway from Commerce Bank, near Columbia University. That deal, for the retailer’s first store on the Upper West Side, was negotiated by Newmark Knight Frank Retail.
ALLISON NAMES CEO: Allison SpA has named Richard Babboni president and chief executive officer of Allison USA. Babboni started his new job on June 6. He replaces Paul Diaz-Asper, who resigned a day earlier. Babboni most recently was senior vice president and chief operating officer of Marcolin USA. Allison, which is based in Padova, Italy, and has a U.S. branch in Miami, produces eyewear for brands such as Missoni, Gianfranco Ferré, Dunhill, Mercedes-Benz, Romeo Gigli and Vivienne Westwood.