>> 33-year-old Antoine Arnault joined Louis Vuitton in 2002 — where he was named communications director in 2007 — and as son of LVMH CEO and chairman Bernard Arnault, has been a member of LVMH's board of directors since 2006. Now, he's reportedly moving over to a much less visible brand under the LVMH umbrella — the luxury footwear brand Berluti, founded in 1895 and known for its distinctive colors and patinas — where he will take up the management helm. [WWD]
Posts for November 23rd 2010
>> The downtown dad loves a great gift as much as any other dude, so show off your utmost gratitude to him with these rad gift ideas: a cork wine and bar set for the connoisseur, an all-purpose messenger bag from Jack Spade, a throwback digital watch from Nixon . . . and there's more to love in the slideshow.
>> Dolce & Gabbana's tax evasion saga continues. Though the designers have vehemently denied any wrongdoing, they may have to go to trial for the case which began in 2008 after they sold Dolce & Gabbana and D&G to their Luxembourg-based holding company in 2004. Milan-based prosecutor Laura Pedio confirmed today that Domenico Dolce and Stefano Gabbana have been indicted, although she couldn't speak to when the preliminary hearing would be. If the designers are found guilty, they would be personally liable for more than $1 billion in unpaid taxes and fines and could be assigned up to a three year prison sentence. It is unclear of they and their legal team plan to go to trial or negotiate out of court if the preliminary hearing judge decides to proceed. [WWD, WWD]
Karl Lagerfeld's Affordable Masstige Line Said to Be Coming to Macy's; Matthew Williamson Signed Up, Too
>> Macy's announced last month that it was getting on the limited-edition discount designer collection bandwagon, beginning with London designer Kinder Aggugini in February. The Aggugini collaboration is expected to be the first in a string of collaborations, and will go on sale for two months before the next one is announced — which Fashionista reports will be a line by Matthew Williamson for the retailer.
It sounds like Karl Lagerfeld, who kicked off the inaugural H&M designer collection, may be third up for Macy's. Unbeige reports: "We hear that the national retailer has inked a deal with the Karl Lagerfeld brand, owned by private equity firm Apax Partners, for an affordably priced ready-to-wear line that will range from jeans to gowns. The new line, slated to launch with a collection for Fall 2011, is also expected to include a major online component, with e-commerce as a key distribution channel."
Apax has previously brokered the currently-in-place exclusive distribution agreement between Macy’s and Tommy Hilfiger for his men’s and women’s sportswear, and Lagerfeld announced back in September that he was working on a new "masstige" ready-to-wear collection. At the time of the announcement, negotiations were under way for production and distribution for the line, but no deals had been signed.
We all know Black Friday is as much an excuse to shop for ourselves as for others — it's all about the multitasking — so it's important to dress for efficiently trying things on — get in, and get out. The secret is in the simplicity: shop these ultra-cool leggings from Sass & Bide, a print tank from Dion Lee, Topshop flats, and a cashmere wrap sweater for quick wardrobe changes.
Left to right: Dion Lee Rorschach Tank ($500), Mulberry Cross Body Bag ($395), Sass & Bide Black Rats Leggings ($180), Ann Taylor Cashmere Cable Open Wrap ($348), BDG Convertible Gloves ($16), Forever 21 Vibrant Floral Hearts Scarf ($10), Topshop Fringed Loafers ($100)
>> J.Crew is going private. Private equity firms Leonard Green & Partners and TPG Capital — a former owner of the retailer — bought outstanding shares today for $43.50 apiece — a nearly 16 percent premium to J. Crew’s Monday closing price — tallying to an approximately $3 billion deal overall.
J.Crew, the retailer's chairman and CEO Mickey Drexler, and the firms have been in talks for several weeks, and Drexler is expected to continue in his roles. As of Sept. 17, Drexler remained one of the company's biggest shareholders, with a roughly 5.4 percent stake.
“I am pleased to announce this agreement as it delivers significant value to our shareholders,” Mr. Drexler said in a statement. ” As I have always said, we are in this for the long term and we do what we do day in and day out so we can deliver the best possible products to our customers.”
J. Crew is holding a go-shop period through Jan. 15, to give prospective rival bidders the chance to evaluate the company’s holiday sales performance. We've heard from a source inside the company that women's sales have been stagnant as of late, and Fashionista has heard the same — although apparently men's sales have continued to rise for the retailer.
>> Prince William and Kate Middleton will marry April 29, 2011 in Westminster Abbey, where Princess Diana's funeral was held (William's parents were married at St. Paul's Cathedral). Royal officials said the venue was chosen for its beauty, intimacy, and historic royal connections, and the date because the couple wanted a Spring wedding; the government has already announced the date a public holiday in England, Wales and Northern Ireland, and Scotland is expected to follow suit. The royal family and the Middletons are expected to cover the wedding, reception, and honeymoon costs, apart from security. [NYTimes]