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Wwdadvertisement ADVERTISEMENT WTHURSDAY, SEPTEMBER W11, 2014 ■ WOMEN’S WEARD DAILY ■ $3.00 WWD CoverWrap_Valentino FW2014_Final.indd 1 04/08/14 11:06 WWD CoverWrap_Valentino FW2014_Final.indd 2-3 04/08/14 11:12 MILEY’S METIER MILEY CYRUS TURNED UP WRITING AT JEREMY SCOTT’S SHOW TO UNVEIL HER NEW ROLE THE NEW YORK MAN IT DOWN AS AN ARTIST. PAGE 4 NEW YORK FASHION WEEK INCLUDED DONNA KARAN REVEALS MEN’S WEAR, TOO, AND THERE WERE PLANS TO WRITE HER SOME DEFINITE TRENDS. PAGE MW1 MEMOIR. PAGE 4 DEAL WITH FOSSIL SPRING 2015 Intel Details Push NEW YORK COLLECTIONS Into Wearable World By SHARON EDELSON WEARABLES STAYED in the spotlight Wednesday, a day after Apple Inc. unveiled its first smartwatch. This time it was the turn of Intel Corp., which held its annual developers conference in San Francisco. Intel chief executive officer Brian Krzanich revealed THURSDAY, SEPTEMBER 11, 2014 ■ $3.00 ■ WOMEN’S WEAR DAILY the semiconductor company’s partnership with Fossil WWD and introduced Greg McKelvey, chief strategy and mar- keting offi cer, who called the watch company’s con- sumers trendsetters who focus on fashion, style and status. In addition to the Fossil label, the $1.3 billion global brand controls a portfolio of timepieces and ac- cessories that includes names such as Michael Kors, Marc Jacobs, Tory Burch, Emporio Armani and Diesel. “How do we integrate technology into our exist- ing system?” McKelvey told the conference. “We’re taking technology in a modular way and creating a beautiful product.” For Fossil, timing is everything. Years ago, the company developed smartwatches with Palm PDAs on the wrist. “We noticed then that the technology wasn’t there,” he said. “Those things are now chang- ing. We’re also seeing interest from our core trendset- ting consumer. It’s about smart fashion and accesso- Sunny ries that are alive based on technology. “The size of the business is an opportunity. On a unit basis, only one out of fi ve watches sold are ours,” he said, adding that Fossil wants to capture the busi- ness of the other four watches. “This is all about a partner,” McKelvey added. Side “Fashion tech is impossible to do on your own. Intel Admitting he’s “a cockeyed optimist,” is bringing its unique technology capabilities.” Michael Kors presented a buoyantly Krzanich referred to Intel’s partnership with Opening Ceremony, saying, “We were building a chic collection that he said [bracelet] with cell phone capability. It’s not teth- was inspired by the feminine ered and has its own operating system that links to silhouettes of postwar your cell phone and gets all your texts and Twitter America. That meant feeds. We went and got a great partner in Opening waist-centric full skirts, SEE PAGE 12 cropped chinos and cashmere pullovers with matching corsages. Instagram’s Systrom Here, a suit with a cropped jacket in a cheerful On NYFW and More fl oral print. For more on By RACHEL STRUGATZ New York Fashion Week, see pages 6 to 11. FASHION HAS BEEN a focus of the shows these past nine days. But the focus has been on tech. Amid live-streaming, tweeting, Twitter’s introduc- tion of the “buy” button, Apple’s unveiling of the Apple Watch and the nonstop Instagramming from design- ers, brands and showgoers, fashion insiders are as en- grossed in social media, smartphones and wearables as they are colors for spring, the new shapes and who is sitting in the front row (only so they can Instagram it). While Twitter is still used throughout the fashion pack to get a quick message out — texts are used to set up dinner dates or drinks — Instagram has become the fashion world’s prime means of communication as de- signers, bloggers, editors, assistants and even retailers rush to gain followers and raise not only their profi les but, hopefully, that of the companies they work for. So, one would assume Instagram cofounder Kevin Systrom would be as feted in the front rows of fash- ion as Anna, Glenda and Robbie & Co. Not so. Systrom didn’t even go to any shows (although he did attend the Met Gala). Nonetheless, he talked with WWD about the platform’s place in the industry, which brands are in- novative and how to cope with social-media clutter. WWD: How much of your advertising today comes from fashion? Kevin Systrom: The first advertiser was a fashion brand. We had 10 initial partners for the advertising rollout, and three were fashion- and retail-related: PHOTO BY GIOVANNI GIANNONI SEE PAGE 12 2 WWD THURSDAY, SEPTEMBER 11, 2014 WWD.COM Lands’ End Results Impress THE BRIEFING BOX IN TODAY’S WWD Same-store sales increased 2.8 percent last quar- By DAVID MOIN ter. Total revenues rose 5.4 percent to $347.2 mil- lion, while the market had expected $331.1 million FRESH FROM ITS spin-off from Sears Holdings in sales. In last year’s quarter, Lands’ End gener- Corp., Lands’ End is showing improved results, ated $329.6 million in sales. building up its offering and getting investors excited. Retail sales in the latest quarter decreased 2.9 On Wednesday, after Lands’ End reported earn- percent to $54.6 million, partly due to the decrease ings and sales that readily beat estimates, the stock in shops inside Sears stores. Direct sales rose 7.1 jumped 20.6 percent, closing at $40.20, up $6.86, on percent to $292.6 million. Gross margins in the lat- Nasdaq. Volume was nearly 3 million shares, about est quarter rose 310 basis points to 48.5 percent. seven times the average. Huber pointed out “There is a good spirit that turnaround efforts in the company. We’re Women’s were in progress well working on a lot of new apparel before April’s spin- ideas,” Edgar Huber, boosted off and that he felt the Lands’ End’s president results at company was now out MORELAND and chief executive of- Lands’ End. of turnaround mode. ficer, told WWD. “I feel “We started to turn the Backstage at Bibhu Mohapatra. LEXIE extremely good about business around before For more, see WWD.com. BY the third quarter and the the spin-off. Since then, PHOTO fourth quarter.” we have been able to In the second quarter, focus even more on get- “Overall, the women’s ting everything right, Wearables were a key point for Intel chief executive officer business was very strong. developing a stronger Brian Krzanich in his keynote address at the company’s Outerwear is already international business PAGE 1 doing extremely well, and focusing on a digi- annual developer conference Wednesday. dresses, too, and we had tal transformation,” he a good back-to-school per- said. Huber joined the Fashion has been a focus of the shows these past nine formance in kids,” Huber company three years days. But the focus has been on tech. PAGE 1 said, noting that the pink ago and has been insti- duffle coats have been tuting expense controls, Fresh from its spin-off from Sears Holdings Corp., Lands’ particularly popular. more fashionable prod- End is showing improved results. PAGE 2 Weathering the tough ucts to modernize the retail climate, Lands’ image, a wider range of Fitch Ratings has downgraded the long-term issuer default End reported a 4.9 per- fits, and some new catego- ratings on Sears to “CC” from “CCC,” pushing it further into cent net income gain in ries, such as performance junk bond status. PAGE 2 the second quarter ended wear, which was intro- Aug. 1 to $11.8 million, or duced last spring. “We Guccio Gucci, the great-grandson of Gucci founder Guccio 37 cents a diluted share, have a plan to make it Gucci, has been accused of fraudulent bankruptcy and is and even better oper- much bigger,” Huber said. under house arrest. PAGE 4 ating results. Adjusted Among other initia- earnings before interest, tives, Huber said he’s After weeks of industry speculation about who would be taxes, depreciation and evaluating the possibil- named Maxim magazine’s new editor in chief, WWD has amortization increased ity of a retail rollout in PAGE 4 26.6 percent to $30.1 mil- the U.S. learned the job will go to Kate Lanphear. lion. The market had es- Abroad, Lands’ End timated EPS at 17 cents. opened two shops-in- Donna Karan clearly has a few stories up her sartorial In the year-ago quarter, shop in House of Fraser sleeve. Thus, she is now starting to work on her memoir, Lands’ End reported net income of $11.3 million or 35 in the U.K. this month, marking the brand’s first which was just acquired by Ballantine Bantam. PAGE 4 cents a share, and adjusted EBITDA of $23.78 million. brick-and-mortar foray overseas. Three more Huber said the most recent net would have been shops inside House of Fraser are planned in the Trinity Ltd., which owns the Kent & Curwen, Cerruti and higher except the company had to absorb some of coming weeks. Huber is also working on partner- Gieves & Hawkes brands, has named Cody Kondo chief the costs of separating from Sears and some bonus ships in Japan. merchandising officer. PAGE MW3 payouts. Nevertheless, gains despite the challeng- In the U.S., Lands’ End operates five regular ing economic environment can be attributed to the stores, six outlets and more than 200 shops in- Craft Atlantic, a contemporary men’s sportswear collection, spin-off from Sears and the resulting downsizing side Sears stores.
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