FENDI’S NEW DATE THE BRAND HAS JOINED PRODUCERS ARE THE PARIS COUTURE MADE BECOMING BRANDS, CALENDAR FOR A SHOW FASHION’S COINCIDING WITH IN MONUMENTAL ROLE REMEMBERING LAGERFELD’S AND MORE. 50TH ANNIVERSARY SECTION II SEGERSTROM OF DESIGNING FURS FOR ITALY A LOOK BACK AT THE LEGACY OF SOUTH THE HOUSE. PAGE 2 COAST PLAZA FOUNDER HENRY SEGERSTROM. PAGES 16 TO 22 LAMPERT’S LATEST MOVE? XXXXXX Sears Hints at Exit Xxx Xxx Xxx Of Brick-and-Mortar Xxx Xxx Xxx Xxx By OVIDIS A NATQUE NET By VICKI M. YOUNG MENDA VOLUPTA turepudit, quias nestis accus as COULD EDWARD S. LAMPERT be thinking of taking resti beriasi doluptatem. Nem aut aperunto est ut Sears Holdings Corp. out of brick and mortar? perrori taquidem aut qui blatem ad eium fugiantur Lampert, Sears’ chairman and chief executive of- modi cus vel iusam fugiamus, omnim volendus, sinus FRIDAY, FEBRUARY 27, 2015 ■ $3.00 ■ WOMEN’S WEAR DAILY fi cer, didn’t rule out that possibility Thursday in a eaquas dolorep tatatent qui que sandelendis quis aut pre-recorded earnings call on fourth-quarter results, voluptur? WWD which once again were deep in the red even as the Nam essint aut ea duntinv elendiciam num exp- company trumpeted an “improved” performance. labo ribusae niam quidebi ssimet autat. Lampert has been preaching about a multiyear trans- Antiur, nobit faceptat. formation of the perennially beleaguered business to Idis molupti nonsequis doloren impelecae nusci an “asset-lite, member-centric integrated retailer” im solente molorep eribus des corpora tibus, odis et that has become more of an e-tailer, with a far smaller dunt dolorpo reiciatem dolo int adigend uciendus COLLECTIONS brick-and-mortar footprint. aperita consequam utatur, quiani conectiam ut as That asset-lite move could shrink Sears Holdings’ intionsequas et quaeriat qui aut unt omniendi blabo. physical presence even more come May or June when Tem voluptat quam cum et fugia il mo etus aut eicae MILAN the company is expected to shift 200 to 300 stores into lam, offi ctoribus adistionsed que non re cone con FALL 2015 a real estate investment trust that incorporates a sale/ cumquasped et quis del mo dellupt ataerum faccae leaseback structure. The REIT move is expected to repudae ne voluptat la cusapit periscilit quis eiur, aut generate more than $2 billion in proceeds for Sears, et atur asitisimi, autem quo quia nis quid qui ut auta yet another example of Lampert’s increasingly intri- dolesequi corum qui debitatur, quiam nis mos volu- cate fi nancial maneuvering to prop up Sears’ contin- pis sequam faccus si im el il isimoditis volorporem ually deteriorating liquidity. But Sears would likely imporro conse con ratquiasse vellum re et et optate have to pay fair market rates to lease those stores con consequuntio doluptiam eata digenis aut offi c to Lucky inctur sam re re dolupta tessin con pe corio dolorum from the REIT. Further, Sears has already begun leasing out some aditias et el et mi, ius dolori bla eosam utem even- of its store space, effectively turning the retailer into dae offi cae nobistr umquos milliqui apiendam rere- a landlord. Whether in the REIT or outside of that hen dendandi doluptur maiorrovid eum es quid eturi structure, the expectation is that the company will tem re, incipsa nisquiam quatenimet quiditatem im- continue to explore more of those opportunities. porrovid ut quia di simporest et la dolorro blant eos Charms “We anticipate that the REIT would enable us to dolupti atistia cus, aborpore landio to blautet as aut continue and to accelerate many of the activities that offi cipsam earciaes excearum, qui te offi cilicit est aut For Miuccia Prada, this season was all about we have been pursuing over the past several years. id mil min ea pore mil iumque pro vit offi cab il en- giving women what they like — soft bows, pretty Specifi cally, we have been working to partner with dantotatum verovid mod et rat.Soloremquiam et pro que pelique plibus et, similiqui ius essi re arum et colors and a soupçon of sparkle — and it worked other retailers and mall owners to enable us to reduce the operating footprint of our stores to smaller but od mo earum aliquat latur, offi c tem faciend itatend like a charm. Here, she worked a baby-doll tunic still signifi cant spaces, while leasing part of the store esequatur molene landit endam solor sene vitaqua ti- to retailers who will bring increased foot traffi c and asitaquunt faccuptur sum qui od untorum facitiis do- over matching pants in tone-on-tone pink with lessita dolupta temporepe platect enistiam con conse- crystal embroideries reminiscent of midcentury SEE PAGE 14 ditae. Itatum et aut ant enim acillor am eos esectas et brooches. For more, see pages 6 to 8. explam repudae. Nequam, omniminum faceruptatas Magazine Firms Wrestle Over Native Ad Rules Xxxxxx Xxxxxx By ALEXANDRA STEIGRAD By OVIDIS A NATQUE NET THE AMERICAN SOCIETY of Magazine Editors is in MENDA VOLUPTA turepudit, quias nestis accus as the process of changing its guidelines, as large, main- resti beriasi doluptatem. Nem aut aperunto est ut stream publishers continue to break down the lines perrori taquidem aut qui blatem ad eium fugiantur between editorial and advertising, WWD has learned. modi cus vel iusam fugiamus, omnim volendus, sinus ASME, which runs the National Magazine Awards, eaquas dolorep tatatent qui que sandelendis quis aut is faced with the dilemma of whether to look the other voluptur? way, or create a new set of rules that reaffi rm the long- Nam essint aut ea duntinv elendiciam num exp- held journalistic principle that editors should be pro- labo ribusae niam quidebi ssimet autat. hibited from working on advertising content. Antiur, nobit faceptat. According to insiders, in light of the fact that sev- Idis molupti nonsequis doloren impelecae nusci eral publishers have already bent that rule, the orga- im solente molorep eribus des corpora tibus, odis et nization is drafting what is being referred to as “pre- dunt dolorpo reiciatem dolo int adigend uciendus scriptive” guidelines for native advertising, which aperita consequam utatur, quiani conectiam ut as will be voted on next week by a board that includes intionsequas et quaeriat qui aut unt omniendi blabo. publishing executives. Tem voluptat quam cum et fugia il mo etus aut eicae In recent months, Hearst noted that its digital edi- lam, offi ctoribus adistionsed que non re cone con tors work on native advertising content, and Time Inc. cumquasped et quis del mo dellupt ataerum faccae acknowledged that select editorial staff work along- repudae ne voluptat la cusapit periscilit quis eiur, aut side the advertising side. Last month, Condé Nast et atur asitisimi, autem quo quia nis quid qui ut auta said its newly minted content division, 23 Stories, will dolesequi corum qui debitatur, quiam nis mos volu- employ editors to work on advertising copy — a viola- pis sequam faccus si im el il isimoditis volorporem tion of ASME’s current rule as written on its Web site: imporro conse con ratquiasse vellum re et et optate “Editors are reminded that the participation of edito- con consequuntio doluptiam eata digenis aut offi c rial staff in the creation of advertising is a confl ict of to inctur sam re re dolupta tessin con pe corio do- interest and should be avoided. Editorial contributors lorum aditias et el et mi, ius dolori bla eosam utem should not participate in the creation of advertising if evendae offi cae nobistr umquos milliqui apiendam their work would appear to be an endorsement by the rerehen dendandi doluptur maiorrovid eum es quid magazine of the advertised product.” eturi tem re, incipsa nisquiam quatenimet quiditatem Sid Holt, ASME chief executive officer, con- imporrovid ut quia di simporest et la dolorro blan PHOTO BY DAVIDE MAESTRI fi rmed that his organization is updating the current SEE PAGE 15 SEE PAGE XX 2 WWD FRIDAY, FEBRUARY 27, 2015 WWD.COM Fendi Bringing Fur to Couture DIGITAL BRIEFING BOX among other top nationalities. bers or give a breakdown of the FOR MORE COVERAGE, FIND US ON WWD.COM, SOCIAL AND MOBILE. By WWD STAFF He said prices for the couture business, though it is understood w furs have yet to be set, as the col- leather goods, as is the case MILAN — Seizing on its legacy in lection is still in progress. for most big European luxury fur, Fendi plans to join the cou- But Fendi’s prices already brands, represents Fendi’s big- ture calendar and stage a “haute stretch from about 500 euros, or gest category. fourrure” show in Paris on July 8. $568, for its popular Bag Bugs He characterized fur as a “sig- The event coincides with Karl fur charms, all the way to 500,000 nificant business,” noting “all Lagerfeld’s 50th anniversary de- euros, or $567,585, for coats in categories are growing for us, signing furs and ready-to-wear for rare and prestigious furs such as and fur with it.” the Roman house, putting him in sable, white sable or lynx. Fendi procures all its furs in- the unique position of staging two “People are willing to invest ternally, attending auctions in couture shows in the French capi- in a Fendi fur because they know Finland, Russia, Ukraine and tal. The German designer is also it is produced by the best hands Canada. “Nobody has this inte- the couturier at Chanel. in the market,” he said. grated chain,” Beccari asserted. Christopher “For me, fur is Fendi and Fendi boasts about 40 full-time Fendi and Beccari credit Raeburn Fendi is fur,” said Lagerfeld, employees in its fur atelier with Lagerfeld for transforming the noting he channels the “Italian a combined work experience of image of fur from a bourgeois version” of his creativity into his more than 600 years.