Cool, Calm and Crisp
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U.S., EuropeThe Media GiantsInside: Pg. 13 FEDERATED POSTS PROFIT/3 MAX AZRIA’S MASS LOOK/10 WWD WWDWomen’s Wear Daily • TheTHURSDAY Retailers’ Daily Newspaper • May 17, 2007 • $2.00 List Sportswear Cool, Calm And Crisp NEW YORK — What woman doesn’t love a little sportiness? Alberta Ferretti went in that direction for resort, showing a country-club chic collection full of the simple and feminine, as this charming cotton shirtdress illustrates. For more resort, see page 8. Takeover Battle Looms For Valentino Group As Permira Buys Stake By Luisa Zargani MILAN — Valentino Fashion Group has a new investor — but the bidding battle could have just begun. Confirming a WWD report, private equity fund Permira has acquired 29.6 percent of VFG from the Marzotto family’s International Capital Growth Sarl for 782.6 million euros, or $1.06 billion at current exchange. Permira, which was supported in the deal by merchant bank Mediobanca, Unigroup and Citibank, said it is interested in increasing its stake in VFG by buying additional shares at the same per- share price of 35 euros, or $47.60. The See Bidding, Page9 PHOTO BY DAN LECCA PHOTO BY WWD.COM WWDTHURSDAY Sportswear FASHION Alberta Ferretti went sport for resort with nautical chic meets campy- ™ 8 prep, while at Akris, Albert Kriemler showed an architectural inclination. A weekly update on consumer attitudes and behavior based on ongoing research from Cotton Incorporated GENERAL Private equity fund Permira has taken control of 29.6 percent of 1 Valentino Fashion Group, inking a deal with International Capital Growth. BUYER — AND SELLER — BEWARE Amid sluggish sales and concerns about the economy, Federated hit Where Consumers Levy Blame For Sub-par Apparel 3 earnings targets for the fi rst quarter and sees improving trends. LVMH Moët Hennessy Louis Vuitton said it had acquired a majority stake Mother's Day has come and gone and the founder of Rebecca and Drew Manufacturing, 3 in Wen Jun Distillery, a Chinese maker of premium white spirits. returns are coming in, particularly if that blouse an entrepreneurial fashion company. “You have to concentrate on the fit; look at the quality of the Emilio Pucci was a fashion innovator and the design house he founded, or sweater you so carefully chose for Mom did not now owned by LVMH, is recapping 60 years of innovation. survive the first washing or wearing. But fear not, fabric and be aware of what you are paying for.” 6 Mom is more likely to levy blame on the manufacturer The most common apparel complaint among BEAT: Carrefour unveiled its Tex by Max Azria contemporary collection or retailer of the garment. The consumers was poor construction. 10 slated for August delivery at 718 locations in Europe. Cotton Incorporated Lifestyle According to the Monitor, one in Monitor™reveals that as women two female respondents stated EYE age, they increasingly hold that she had bought an item of This week’s parties made art students out of the social set, from the manufacturers and retailers clothing in the past year that was 16 ICP’s Infi nity Awards to the American Ballet Theatre’s Spring Gala. responsible for poor quality poorly sewn. “When consumers Classifi ed Advertisements.............................................................14-15 apparel. In this age of disposable take the time to perform their fashion, the solution, of course, due diligence when shopping, To e-mail reporters and editors at WWD, the address is fi rstname. is to look for well-constructed they will be a lot happier with the [email protected], using the individual’s name. apparel in the first place. garment that they are buying,” WWD IS A REGISTERED TRADEMARK OF ADVANCE MAGAZINE PUBLISHERS INC. COPYRIGHT Matchett insists. ©2007 FAIRCHILD FASHION GROUP. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. According to the Lifestyle VOLUME 193, NO. 105. WWD (ISSN 0149–5380) is published daily (except Saturdays, Sundays and holidays, with one Monitor™, older consumers were “Basically, you should be able additional issue in January and November, two additional issues in March, May, June, August and December, and three to turn a garment inside out and additional issues in February, April, September and October) by Fairchild Fashion Group, which is a division of Advance more likely to point their fingers Magazine Publishers Inc. PRINCIPAL OFFICE: 750 Third Avenue, New York, NY 10017. Shared Services provided by at the retailers of garments that fell have it look just as finished on the Condé Nast Publications: S. I. Newhouse, Jr., Chairman; Charles H. Townsend, President/CEO; John W. Bellando, Executive inside as outside,” advises designer Vice President/COO; Debi Chirichella Sabino, Senior Vice President/CFO; Jill Bright, Executive Vice President/Human apart after a single wash or wear. Resources. Periodicals postage paid at New York, NY, and at additional mailing offi ces. Canada Post Publications Mail In the 56 to 70 demographic, 63 Lauren Moffatt. “Some features of Agreement No. 40644503. Canadian Goods and Services Tax Registration No. 886549096-RT0001. Canada Post: return percent of respondents claimed beautifully made clothes are bias- undeliverable Canadian addresses to: P.O. Box 503, RPO West Beaver Cre, Rich-Hill, ON L4B 4R6 POSTMASTER: “There is no doubt that the more SEND ADDRESS CHANGES TO WOMEN’S WEAR DAILY, P.O. Box 15008, North Hollywood, CA they would blame the store. The bound seams, French seams, blind 91615–5008. FOR SUBSCRIPTIONS, ADDRESS CHANGES, ADJUSTMENTS, OR BACK ISSUE experienced consumer considers percentage decreases with the age of hems, kick pleats instead of slits, INQUIRIES: Please write to WWD, P.O. Box 15008, North Hollywood, CA 91615-5008, call 800-289-0273, or visit herself educated in spotting a www.subnow.com/wd. Please give both new and old addresses as printed on most recent label. First copy of new the respondent: 61 percent (aged 35 and very tiny stitching.” subscription will be mailed within four weeks after receipt of order. Address all editorial, business, and production quality garment and she will hold to 55); 46 percent (aged 25 to 34) “I love for garments to look as correspondence to WOMEN’S WEAR DAILY, 750 Third Avenue, New York, NY 10017. For permissions and reprint requests, the retailer or the manufacturer please call 212-630-4274 or fax requests to 212-630-4280. Visit us online at www.wwd.com. To subscribe to other and 39 percent (aged 16 to 24). good on the inside as the outside,” Fairchild magazines on the World Wide Web, visit www.fairchildpub.com. Occasionally, we make our subscriber list Consumers also held accountable when it proves inferior.” agrees Jodi Arnold, principal and available to carefully screened companies that offer products and services that we believe would interest our readers. — Kim Kitchings, If you do not want to receive these offers and/or information, please advise us at P.O. Box 15008, North Hollywood, CA manufacturers accountable for creative director of Mint Jodi 91615-5008 or call 800-289-0273. WOMEN’S WEAR DAILY IS NOT RESPONSIBLE FOR THE RETURN OR LOSS OF, Cotton Incorporated Arnold, a contemporary design OR FOR DAMAGE OR ANY OTHER INJURY TO, UNSOLICITED MANUSCRIPTS, UNSOLICITED ART WORK (INCLUDING, sub-par apparel, though without BUT NOT LIMITED TO, DRAWINGS, PHOTOGRAPHS, AND TRANSPARENCIES), OR ANY OTHER UNSOLICITED the direct correlation between collection. “I prefer all seams to MATERIALS. THOSE SUBMITTING MANUSCRIPTS, PHOTOGRAPHS, ART WORK, OR OTHER MATERIALS FOR be bound in a lightweight lining or fabric; zipper CONSIDERATION SHOULD NOT SEND ORIGINALS, UNLESS SPECIFICALLY REQUESTED TO DO SO BY WOMEN’S WEAR increasing age and increased likelihood of faulting DAILY IN WRITING. MANUSCRIPTS, PHOTOGRAPHS, AND OTHER MATERIALS SUBMITTED MUST BE ACCOMPANIED BY the retailer. In fact, younger consumers showed quality is also important.” A SELF-ADDRESSED STAMPED ENVELOPE. a greater inclination to hold the manufacturer “If seams are finished properly on the inside, responsible: 48 percent of women aged 16 to 24; garments will last longer and generally hang better,” and 51percent of women aged 25 to 34. explains Cho from Inhabit. As she ages, a woman is increasingly likely to look Quality also stems from choice of fiber, adds In Brief for and choose quality over trend. According to the Matchett. “There is a premium in terms of fabric. Monitor, two out of three female respondents aged 55 For example, we only use high quality cotton ● SAKS NAMES EXECS: Saks Fifth Avenue has promoted and older said that and add a small Caroline Dougherty, vice president of special events, to vice they would rather Who would you hold responsible if you purchased a amount of president of public relations and special events. She will have buy clothing stretch for the responsibility for women’s ready-to-wear, accessories and that is higher in shirt and it fell apart after it was worn for the first time? best feel and cosmetics. Before joining Saks in 2004, Dougherty held simi- quality. Younger appearance.” lar posts at Club Monaco, Louis Vuitton and Tiffany. Michael 16 to 14 25 to 34 35-55 56-70 Macko, vice president and men’s fashion director, has been consumers, Matchett is Retailer 39% 46% 61% 63% appointed vice president of p.r. and special events, and men’s namely female speaking to the fashion director. He also covers the home area. Macko joined respondents aged Manufacturer 48% 51% 42% 40% market, as six Saks in 1996 as a publicity manager and earlier was p.r. man- 16 to 24 (58 out of 10 female ager for Neiman Marcus in Short Hills, N.J. Dougherty and percent), were respondents told Macko are taking on responsibilities held by Andree Corroon, more likely to favor what was currently in fashion the Monitor that they were willing to pay more for who resigned.