On Monday, Coach Inc. reached an agreement to purchase Kate Spade & Company for a cash transaction of $2.4 billion funded by a combination of senior notes, bank term loans, and approximately $1.2 billion of excess Coach cash, a portion of which will be used to repay an expected $800 million six-month term loan. The...
NEW YORK (AP) — Macy’s, the nation’s largest department store chain, says its earnings for the quarter that includes the holiday period dropped nearly 13 percent as results were dragged down by lower sales, store closures and other costs. The profit results beat Wall Street expectations, but Macy’s said it would post another year of...
Levi Strauss is committed to manufacturing all of its denim from sustainable cotton by the year 2025. There is just one problem..the technology to produce quality denim from worn cotton has not been invented yet. Just a small percent of the cotton Levi’s uses comes from recycled sources, the majority comes from virgin cotton. The $4.5...
Earlier this week, New York mayor Bill de Blasio announced the city’s planned investment in Sunset Park, Brooklyn- a complex at Bush Terminal dedicated to New York’s garment and film industry. The Made in New York complex, part of the Sunset Park District Plan, led by the New York City Economic Development Corporation (NYCEDC), is...
Macy’s said it plans to close about 100 stores, or 14 percent of its store base, and would continue to seek partnerships for its flagship locations as it seeks to turn around its business after six quarters of falling sales. Department stores have been struggling with stiff competition from online and off-price retailers. They are...
Craig & Karl self portraits | Source: Craig & Karl “When we started working, there was that kind of boom around vector-style illustration. It became quite fashionable, certainly in fashion-based stuff,” said Karl Maier, half of the transatlantic graphic design duo Craig & Karl, formed in 2011 in partnership with longtime friend and creative collaborator...
You’d be hard put if you entered a Spanish home not to find at least one item designed by Agatha Ruiz de la Prada. The fashion designer, who has no connection to Italian fashion label Prada, is known for her colourful and funky designs. She may have started out with clothing but her sprawling design...
The New York Post very recently published a lengthy piece on recurring topic of discussion: Terry Richardson. According to the NY Post, “He is the Annie Leibovitz of his generation, having shot every culturally relevant celebrity of the past decade — Lady Gaga, Rihanna, Beyoncé. He is the man behind Miley Cyrus’ controversial makeover and...
What difference does it make what people wear and who designed it? Caring about fashion and style is only for the self involved and shallow, right? The fact that fashion is now accessible to many instead of a chosen few has several of my colleagues up in arms. The fine line between high and mainstream...
Over the years we have come to love the last editorial page of W Magazine also known as the Last Laugh of every issue. The Countess Louise J. Esterhazy writes each article. When Stefano Tonchi became the new Editor-in-Chief of W Magazine, the alter ego, Louise J. Esterhazy, of John Fairchild retired. Recent issues of...
