Posts for August 9th 2010
>> Is Tamara Mellon heading toward a sale of Jimmy Choo? Mellon, who founded the brand with shoe designer Choo in 1996, is rumored to be in talks with banking advisors about a possible sale of the brand — which would bring an estimated £450m and £500m (approx. $715m to $795m) — or an initial public offering.
Choo sold out of the brand in 2001, while Mellon remains president and holds a just under 18 percent stake. The majority shareholder is private equity group TowerBrook Capital Partners, which bought its stake in 2007, with the intention to transform Jimmy Choo into a £1bn business within five years. Both TowerBrook and Mellon declined to comment on the rumors.
>> Loewe Trying to Break Into US Market After 10 Years' Absence—When Stuart Vevers joined Loewe in 2007, he was known for creating it bags at Mulberry. At Loewe, however, he wanted to do simple, classic bags — a concept that he says the brand's executives initially struggled to grasp: "I think there was some confusion as I was explaining that it was time to move on." Now, however, Loewe chief executive Lisa Montague says she "strongly believes in Stuart's ability and his sensitivity to understand the evolution of the market." Pared-down bags are certainly in demand at the moment, and now Loewe — which wasn't sold in US stores for at least 10 years, is trying to reestablish a presence. Since the brand lacks a big ad budget, the strategy has been to place bags in the hands of the likes of Angelina Jolie. So far, three US stores are signed up to sell Loewe: Bergdorf Goodman, Jeffrey, and Hirshleifer's on New York's Long Island. [WSJ]
>> Stefano Tonchi's W revamp involves a new italic logo; a new tagline — "it’s not just women’s fashion, but the world of style and, more exactly, our five Ws: the who, the what, the where, the when and the why in the world of style"; and a new direction — "It’s more about fashion in the context of contemporary culture."
The September 2010 issue, which gives a first look at Tonchi's front to back W makeover, features up-and-coming actresses Kat Dennings (Nick and Norah's Infinite Playlist, Kenneth Branagh's upcoming Thor), Jessica Chastain (Terrence Malick's upcoming The Tree of Life), Yaya DaCosta (The Kids Are All Right, Tron: Legacy), Greta Gerwig (Greenberg), Mary Elizabeth Winstead (Scott Pilgrim vs. the World), Jennifer Lawrence (Winter's Bone, the upcoming X-Men: First Class), Emma Roberts, and Zoe Kravitz in three triple-page foldout covers, which according to Tonchi the magazine has never done before, photographed by Inez van Lamsweerde and Vinoodh Matadin. The main cover headline reads "Great Expectations" because Tonchi "wanted to have some self-irony, because there are so many expectations about what this W will be," and Lynn Hirschberg's name is listed on the cover because Tonchi "want[s] to put writers’ names on the cover. The content — the writers — are going to have a strong place in the magazine."