Siren Song Think Greta Garbo
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WWDMILESTONESSECTION II Valentino at 50 WWD MONDAY, OCTOBER 15, 2012 Q WOMEN’S WEAR DAILY Q $3.00 Siren Song Think Greta Garbo. Not the reclusive one but the vamp version, camera-ready in spring’s high-glam lingerie looks. Here, Josie Natori’s embroidered silk satin slipgown under Dennis Basso’s nylon organza and chinchilla bed jacket. Badgley Mischka earrings; Barbara Flood’s Closet belt. For more, see pages 6 and 7. PHOTO BY KYLE ERICKSEN; STYLED BY BOBBI QUEEN Karstadt Keeps LIQUIDITY ISSUES Pushing Ahead HMX Under Pressure, By MELISSA DRIER Decision Expected Soon BERLIN — It’s action time at Karstadt. A triple-header of major store events has seen fielding unsolicited offers from po- the German department store chain taking rapid By JEAN E. PALMIERI tential bidders. Interested buyers in- strides towards modernizing and differentiating and VICKI M. YOUNG clude two brand management firms, its business as outlined in the “Karstadt 2015” Authentic Brands Group and Iconix strategic plan. Reflecting the group’s multitiered THE OTHER SHOE is about to drop for Brand Group, and private equity firm structure, the moves have been made on both HMX Group. Bluestar Alliance. upper and midmarket levels. The consistent mes- The company is running out of time In a bankruptcy scenario, sources sage, however, has been one of trading up and, to as liquidity constraints are forcing it to said one of those bidders would be some extent, cleaning out. decide as soon as this week whether to chosen as the “stalking horse” for Prior to the grand opening of KaDeWe’s new sell the firm or file for bankruptcy court the firm’s intellectual property as- Luxury Boulevard, the store’s revamped beauty protection. sets. Sources expect that, regardless department and the third-floor The Loft with a The liquidity constraints are due of whom becomes the final owner of 21,500-square-foot shoe salon, Karstadt chief ex- to a lack of funding from its corpo- HMX, Williams and Joseph Abboud, ecutive officer Andrew Jennings met with WWD in rate parent, Mumbai-based S. Kumars president and chief creative officer, Berlin to outline where the group is — and where Nationwide Ltd. would continue with the firm. Both are it’s going. Doug Williams, chief executive of- considered the driving force behind the Jennings has been at the Karstadt helm for 20 ficer, was traveling the past three days turnaround efforts at HMX and are re- months, brought in by investor Nicolas Berggruen, and could not be reached for comment. spected for the operational and design who rescued the group from Germany’s largest While not a done deal, financial and changes they’ve made at the company. postwar insolvency in 2010. “He hired me to repo- market sources said the likely scenar- Sources said the stalking horse was sition three businesses: the premium group [three io is that HMX will voluntarily file for likely to be Authentic Brands. The so- doors], the department store group [86 doors] and Chapter 11 bankruptcy court protection called stalking horse agreement in a the sports division,” Jennings said. for the second time in four years. bankruptcy proceeding typically sets SEE PAGE 8 Since midsummer, HMX has been SEE PAGE 12 2 WWD MONDAY, OCTOBER 15, 2012 WWD.COM Paris Prosecutor Examines Hermès Complaint THE BRIEFING BOX collusion and manipulating stock uity swaps that allowed it to cir- By JOELLE DIDERICH prices, according to a source famil- cumvent the usual market rules IN TODAY’S WWD iar with the issue. requiring firms to declare share PARIS — The Paris prosecu- LVMH in turn has filed a suit purchases. It has since raised its tor’s office has opened a prelimi- against Hermès for “slander, black- stake to 22.3 percent. nary inquiry into a complaint by mail and unfair competition.” French stock-market regulator Hermès International concern- Spokespeople for LVMH and AMF in November 2010 launched A still from Maje’s campaign video for fall. ing LVMH Moët Hennessy Louis Hermès said they had no com- an investigation to determine if Vuitton’s acquisition of a portion ment on the report, which ap- LVMH respected market rules, of its capital, French media re- peared on the Web site of French which it plans to refer to its sanc- ported on Friday. business magazine Challenges. tions commission early next year. The probe will determine Officials at the Paris prosecutor’s The Paris prosecutor’s office whether the prosecutor drops the office were not immediately avail- has also asked the AMF to weigh in case or hands it over to an investi- able to comment. separately on Hermès’ complaint. gating judge. LVMH surprised markets by AMF president Gérard Rameix In its complaint, Hermès ac- revealing in October 2010 that it indicated in a recent TV interview cused the world’s largest luxury had amassed a 17.1 percent stake that he did not think the company’s conglomerate of insider trading, in Hermès via cash-settled eq- allegations were substantiated. EICHNER Allegra Hicks STEVE BY A Tribute to Sassoon PHOTO LONDON — Creative figures from Barber Shop — one that his mother Liquidity constraints are forcing HMX Group to decide the hairdressing, fashion, art, ar- helped him to secure. as soon as this week whether to sell the firm or file for chitecture, film and design worlds “He was a lifetime ambassador bankruptcy court protection. PAGE 1 turned out in force on Friday for for his craft, and wore his celebrity a service at St. Paul’s Cathedral lightly and with enormous grace,” Three major store events have seen Karstadt taking rapid here to celebrate the life of the late said Puttnam. He added that de- strides toward modernizing and differentiating its business Vidal Sassoon, the go-getting and spite Sassoon’s talents and com- as outlined in its strategic plan. PAGE 1 gracious hairdresser whose life mercial success — including salons was marked by family, soccer and worldwide and branded hair-treat- Monique Lhuillier has opened a New York flagship 12 his pioneering five-point cut. ment products — “He retained that years after she opened her first store in Los Angeles, and a “His two favorite topics were very Sixties quality of not going second one four years after the one in Edina, Minn. PAGE 3 Chelsea soccer and beautiful into denial about his background.” women,” said his eldest son, Elan Irons said he met Sassoon “late Advanstar Fashion Group has tapped Tommy Fazio Sassoon, in a tribute that had the in life, sadly” but remembered president of its Project and Menswear shows, which crowd of 1,500 laughing and, later, “white hair and a pair of spectacles encompasses S.L.A.T.E., Street and Mens/Wear. PAGE 3 blinking away tears. “He was a concealing a boyish face. He was a great businessman, an honorable man who needed to win and who Movado Group Inc. is relaunching the upscale women’s husband, and always faced up to never grew old,” said Irons, before watch brand Ebel and adding a robust advertising campaign his fears.” reading aloud the A.E. Housman and e-commerce platform to its arsenal. PAGE 4 Other speakers and partici- poem “To an Athlete Dying Young.” pants at the hour-long service, Hadid admitted that Sassoon’s Mawi, hot off a 10-year anniversary celebration this which wove together elements of influence stretched as far as Arab-Israeli war as part of what summer, has introduced two new categories in the past the Jewish and Christian faiths, in- Baghdad, Iraq, where, as a teen- was to become the Israeli Defense month: handbags and men’s accessories. PAGE 4 cluded Jeremy Irons, Zaha Hadid, ager, she became inspired to cut Forces. He would later return to John Frieda and David Puttnam, her friends’ hair in the spirit of hairdressing in London, developing A coterie of Hollywood A-listers came out to amfAR’s Sassoon’s childhood friend and Sassoon. The experiment was not geometric, wash-and-wear styles — annual Inspiration Gala to honor Creative Artists Agency the producer of films, including a success, the architect admitted, radical for their time — including managing partner Kevin Huvane. PAGE 9 “Chariots of Fire.” but her admiration for Sassoon has the five-point bob famously worn by Among the guests were never died. Mary Quant. American Express Publishing chief executive officer Ed Michael Caine, who was inun- “I loved him for his modesty. He Elan Sassoon said his father’s Kelly announced Friday that Departures publisher Steven dated with autograph seekers on was a combination of pure genius mantra was “Get on with it!” and DeLuca, will add Travel + Leisure to his portfolio. PAGE 9 his way up the steps of St. Paul’s, and modesty, and that’s what made that he was a health freak, break- Peter Blake, Anish Kapoor, John him special,” she said. fasting daily on carrots, celery and An adorable crew of basketball and baseball offspring Pawson, Zandra Rhodes, Charles And while the service took apple juice; swimming a mile a day, walked the runway in front of their parents at a grand Worthington, David Sassoon, place in a Church of England land- and practicing Pilates. His love of opening celebration on Friday for Rookie USA. PAGE 11 Louise Wilson, Sue Webster, Ashley mark — Sir Christopher Wren’s English football knew no bounds, and Allegra Hicks and Sassoon’s domed cathedral — there was a and the younger Sassoon recalled Elin Kling talks about her five-year-old blog, Style by Kling, widow, Ronnie Sassoon. powerful sense of Sassoon’s roots his father waking him up at 5:00 fashion week and the print magazine, that she launched The London-born Sassoon, who and faith.