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Shredded Feat NEW YORK COTERIE PREVIEW COLLECTIONS WHAT’S NEW, SHOWS FROM TOMMY HILFIGER, WHO TO WATCH BELSTAFF, CAROLINA HERRERA, AND WHAT TO DO. CHRIS BENZ AND MORE. SECTION II PAGES 6 TO 11 THE BEAUTY OF TIME Coty Pushes IPO Back Until First Half 2013 By EVAN CLARK NEW YORK — Michele Scannavini is going to have a few more months to get comfortable as chief execu- tive officer of Coty Inc. before facing Wall Street. WWD The beauty company, which had planned to raise $700 million for investors through an initial public of- fering in October, is now going to wait until next year. TUESDAY, SEPTEMBER 11, 2012 Q $3.00 Q WOMEN’S WEAR DAILY “They want to give Michele some time to get his feet wet,” according to a financial source familiar with the situation. “That’s why it was pushed back into, it’s likely to be [the first quarter], but it could be [the second quarter].” The source said the company’s recent results haven’t “thrilled” and that Coty was waiting until its earnings came out before going to Wall Street. “It was strictly Coty’s decision,” the source said. SPRING 2013 A spokeswoman for the company did not reply to COLLECTIONS requests for comment by press time. Coty has taken a circuitous path to the public mar- NEW YORK kets, proceeded by a high-profile but ultimately unsuc- cessful effort to take over the ailing Avon Products Inc. When Coty bared its soul, and financial results, to investors in its IPO papers in June, it seemed like Plan B had gone firmly into effect. But then Bernd Beetz, architect of the company’s current success and its longtime ceo, said just a month later that he was handing the torch to Scannavini, then president of Shredded Coty Prestige, on Aug. 1. Observers saw that timing was awkward and sure to give some on Wall Street pause. Investors buying into a company that’s just starting out in the public markets want to know exactly what they’re getting. Beetz built Coty into a $4.1 billion powerhouse Feat through a series of acquisitions and deals in celebrity fragrance category with stars such as Jennifer Lopez, Madonna, Beyoncé Knowles, Halle Berry and Heidi Why bother with feathers Klum. He remains on the Coty board as non-executive chairman and owns 6.2 million shares of the company, when raffia can look so chic? giving him a 1.6 percent stake. The exquisite collection Even though the delay of the IPO, some details of Donna Karan showed on SEE PAGE 16 Monday was filled with elaborately constructed Design Piracy Bill Returns clothes in dreamy hues and a healthy dose of fringe. By KRISTI ELLIS WASHINGTON — The fashion industry might have another life left on copyright protection in Congress. Sen. Charles Schumer (D., N.Y.) on Monday rein- troduced a modified version of legislation that would put more teeth into copyright protection for fash- ion creations after a long lull that left the bill in the House stalled. The proliferation of fashion design piracy has haunted the industry for decades, but finding defi- nitions for terms such as “piracy,” “knockoffs” and “original” designs has proven elusive. High- profile designers — including Proenza Schouler’s Jack McCollough and Lazaro Hernandez, Narciso Rodriguez, Diane von Furstenberg, Nicole Miller and Jason Wu — have lobbied for the legislation, and many made the trek to Capitol Hill to persuade law- makers to take a look at it and provide some help to thwart the knocking off of their designs. While the bill has run into opposition through the legislative process, the two major fashion groups leading the effort — the American Apparel & Footwear Association and Council of Fashion Designers of America — forged a compromise in August 2010, clearing the path for its advancement. However, the legislation had been dormant for so long that the two groups shifted their priorities earlier this year and took a different tack on copyright pro- tection, without giving up hope that lawmakers would someday advance the legislation. Schumer’s action on Monday gave new momentum to the bill and has the industry groups redoubling PHOTO BY STEVE EICHNER SEE PAGE 15 2 WWD TUESDAY, SEPTEMBER 11, 2012 WWD.COM Arnault to Sue for Public Insult million at current exchange. should display more patriotism. THE BRIEFING BOX By MILES SOCHA Arnault called the page one Libération’s headline Monday of the left-leaning tabloid news- was a play on what France’s former IN TODAY’S WWD PARIS — Bernard Arnault has paper “unacceptable” and said Conservative president Sarkozy his legal teams in overdrive. its coverage, splashed over four famously said during a visit to an On Monday, the business inside pages, reveals an antibusi- agricultural trade show in 2008. titan said he would sue French ness sentiment that is counter When an attendee there didn’t Libération for public insult to what is needed to improve want to shake the president’s hand, after it ran his image under the France’s ailing economy and Sarkozy retorted: “Casse-toi, alors headline “Casse-toi riche con!” — swelling unemployment. pauvre con!” (or “Then get lost, you whose most polite translation is It’s Arnault’s second high- bloody idiot!”) Pauvre is the French “Get lost rich idiot!” profile action headed for the word for poor. The image from 2000 depicts French courts. Over the weekend, Arnault the executive smiling broadly as Earlier this month, he said said he is seeking a Belgian he stands in front of a painting by LVMH would file suit against passport as he has numerous Mark Rothko with his right hand Hermès for “slander, blackmail personal and business ties to the clutching a glossy Louis Vuitton and unfair competition,” escalat- country, including several invest- ing an ongoing dispute regarding ments via his private holding LVMH’s acquisition of a 22.3 per- Groupe Arnault. Dual citizenship cent stake in the maker of Birkin would not change his tax status, Outside the bags and silk scarves. nor “his determination to contin- New York shows. That legal move was in re- ue developing the LVMH group STEVE EICHNER PHOTO BY sponse to a complaint Hermès and creating jobs” in France. lodged with a Paris court against Arnault noted Monday that he Coty Inc., which had planned to raise $700 million for LVMH, accusing the firm of insid- has created more than 20,000 jobs investors through an initial public offering in October, is er trading, collusion and manipu- in France and protected precious now going to wait until next year. PAGE 1 lating stock prices. know-how and patrimony, all Monday’s suit came the morn- the while paying his taxes in the Sen. Charles Schumer on Monday reintroduced a ing after Hollande, in a televised country for more than 20 years. modified version of legislation that would put more teeth interview to discuss the country’s According to Vincent Tolédano, a into copyright protection for fashion creations. PAGE 1 ailing economy and his sliding ap- French lawyer specializing in priva- proval ratings, scolded Arnault, cy rights and media-related litiga- Bernard Arnault said he would sue French Libération for who on Saturday acknowledged tion, it’s not yet known what sort of public insult after it ran his image under a headline whose most polite translation is “Get lost rich idiot!” PAGE 2 A former Gucci network engineer was sentenced to between two and six years in state prison Monday for hacking into the luxury brand’s servers. PAGE 4 The cover of Monday’s Libération. Oliver Peoples will ring in 25 years in the eyewear suitcase. And Libération is doing business next month with a slew of new initiatives. PAGE 4 it again today, when the French paper plans to run a headline The next round of textile trade shows in Paris open this on Arnault that reads: “Bernard, month in the shadow of an economic slump that has seen si tu reviens, on annule tout,” or retail sales fall from Greece to Germany. PAGE 14 “Bernard, if you come back, we cancel everything” in English. Monika Chiang is launching a provocative ad campaign This a reference to a text mes- and plans to open two stores in 2013. PAGE 16 sage that former French presi- dent Nicolas Sarkozy was re- The Jones Group Inc. has sold the Sam & Libby brand to ported to have sent to his ex-wife Brown Shoe Co. PAGE 16 Cécila in 2008, a few days before his wedding to Carla Bruni. The New York Fashion Week party scene was in full Ironically, Yves Saint Laurent, swing on Sunday, with fetes from Diane von Furstenburg, part of PPR, is advertising on the Rachel Roy and Opening Ceremony. PAGE 17 front page of today’s Libération. The French TV i-télé reported Ralph Lauren has become a national corporate sponsor that Arnault’s lawyer is asking for for PBS’ “Masterpiece” drama series. PAGE 17 damages and interest between 15,000 euros and 20,000 euros, or Bianca Jagger, in a white pantsuit and dark sunglasses, between $19,219 and $25,626 at cur- was keeping a low profile Monday morning at Carolina rent exchange rates, as well as the Herrera’s show. PAGE 19 publication of the justice’s decision on the front page of Libération. ON WWD.COM France’s richest man and chairman and chief executive he has applied for dual French- case Arnault might file. If it is civil, officer of LVMH Moët Hennessy Belgian citizenship, while stress- for instance, Libération could have THEY ARE WEARING: Off the runways and onto the Louis Vuitton has become the ing that he “is and will remain” a to pay damages and interest.
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