Trench Dressing
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WOLFGANG LEY’S NEW ROLE/4 CELEBRITY UNDERWEAR/10 WWDWomen’s Wear Daily • The Retailers’MONDAY Daily Newspaper • October 24, 2005 • $2.00 Accessories/Innerwear/Legwear Trench Dressing LOS ANGELES — A new day has dawned at St. John. In its first Los Angeles show under the new regime on Thursday night, the firm presented a smart, youthful collection. While knits remain the house’s bread and butter, there were also plenty of wovens, like the black trench shown here. For more on the collections, see pages 6 and 7. Hilfiger in Five Years: Firm Said to Forecast Wholesale Will Halve By Jean Palmieri NEW YORK — The long-term picture for the U.S. wholesale business at Tommy Hilfiger Corp. isn’t a pretty one. Meanwhile, the chances of Hilfiger being acquired by Wal-Mart Stores Inc. no longer seems so far-fetched; one investment banker pegged them at “50-50.” According to investment sources who have seen the company’s offering memorandum, Hilfiger is projecting that U.S. wholesale sales will drop by more than half, to just more than $400 million, by fiscal year 2009, from just under $900 million in fiscal year 2004. See Tommy, Page50 PHOTO BY DONATO SARDELLA DONATO PHOTO BY 4 WWD, MONDAY, OCTOBER 24, 2005 WWD.COM Escada’s Ley Ready for New Role By Marc Karimzadeh plans to add stores in the U.S. WWDMONDAY Instead, Ley said the plan is to NEW YORK — “On Jan. 31, they utilize the existing stores bet- Accessories/Innerwear/Legwear fire me,” Wolfgang Ley, Escada’s ter. The Fifth Avenue flagship, founder and chief executive of- for instance, has recently been FASHION ficer of Escada AG, joked, sit- refurbished to give it a softer, Los Angeles Fashion Week finished with a crescendo, as designers danced ting in the company’s Fifth more inviting feel, and a better 6 through the decades, riffed fantastic themes and recalled bygone years. Avenue flagship. layout with a prominent acces- Ley, of course, was referring sories display on the main floor. to the day next year when he of- The American market ac- GENERAL ficially steps down from his post counts for 20 percent of Long-term prospects are difficult for Tommy Hilfiger’s wholesale business, and passes the baton to Frank Escada’s total sales. The com- 1 said investment sources who have seen its offering memorandum. Rheinboldt, who is the ceo of pany’s fiscal year ends Oct. 31. Wolfgang Ley, Escada AG’s founder and chief executive officer, talks about Escada Group’s Primera AG. In fiscal 2004, the group’s core 4 stepping down from his post and his new role of creative chairman. Ley, who founded Escada in Wolfgang Ley Escada business had sales of 1976 with his late wife, 413 million euros, or $493.5 mil- Jennifer Aniston and Oscar de la Renta were among the celebrities who turned Margaretha, isn’t saying auf company just as well. lion at current exchange rates. 8 out for the Couture Cares luncheon, benefiting the Revlon/UCLA Breast Center. Wiedersehen to the company, “I thought, ‘What is the “The business in America has Booming sales in outdoor apparel spurred VF Corp. to double-digit earnings though. On Feb. 1, he will assume biggest gap in the company?’” been very good,” Ley said, 10 gains for the third-quarter and nine-month periods. the role of creative chairman for he said. “I know the DNA of the adding that Escada’s own stores the group, an ambassadorial role brand and I have built most of are up by 20 percent. “Wholesale Classified Advertisements ..................................................................52-55 that will still require his involve- the markets. I can support the is good, too.” ment in the brand’s overall de- brand with my know-how of dif- Ley was in New York last To e-mail reporters and editors at WWD, the address is velopment and public image. ferent cultures.” week to launch an ADR [email protected], using the individual’s name. “I am in charge of building He added that he will also (American Depository Receipts) WOMEN’S WEAR DAILY IS A REGISTERED TRADEMARK OF FAIRCHILD PUBLICATIONS, INC. COPYRIGHT ©2005 new collections, influencing the work more closely on develop- program with the Bank of New FAIRCHILD PUBLICATIONS, INC. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. VOLUME 190, NO. 88. WWD (ISSN # 0149-5380) is published daily except Saturdays, Sundays and holidays, with one store layout and store design, ing the advertising campaigns, York. ADRs enable U.S. in- additional issue in June, July and November, two additional issues in April, May, August and December, and three additional scouting the world for new de- pointing to the spring ads, vestors to buy a small fraction of issues in February, March, September and October by Fairchild Publications, Inc., a subsidiary of Advance Publications, Inc. PRINCIPAL OFFICE: 7 West 34th Street, New York, NY 10001. Shared Services provided by Advance Magazine Publishers Inc.: S.I. sign talents, especially in which were photographed by shares in companies not listed Newhouse Jr., Chairman; Charles H. Townsend, President & C.E.O.; John W. Bellando, Executive Vice President and C.O.O.; Jill Bright, Russia, India and China, and Steven Meisel with 12 images here. Escada’s shares are sold Executive Vice President_Human Resources; John Buese, Executive Vice President_Chief Information Officer; David Orlin, Senior Vice making sure that the message featuring Linda Evangelista. through the Frankfurt and President_Strategic Sourcing; Robert Bennis, Senior Vice President_Real Estate; Maurie Perl, Senior Vice President_Chief Communications Officer. Shared Services provided by Advance Magazine Group: Steven T. Florio, Advance Magazine Group Vice of the brand is consistent,” Ley “I can contribute much more Munich stock exchanges. Chairman; David B. Chemidlin, Senior Vice President_General Manager, Shared Services Center. said of his new responsibilities. to the success of Escada if I “There are many American Periodicals postage paid at New York, NY and at additional mailing offices. Canada Post Publications Mail Agreement No. 40032712. Canadian Goods and Services Tax Registration No. 88654-9096-RM0001. Canada post return undeliverable Canadian addresses to: The change, he said, was vol- stayed on like this,” he said. “No retail stores who can’t buy DPGM, 7496 Bath Road, Unit 2, Mississauga, ON L4T 1L2. POSTMASTER: SEND ADDRESS CHANGES TO WWD, P.O. Box untary. “I was 67 years old, and other company can free its ceo European shares in the U.S. be- 15008, North Hollywood, CA 91615-5008. FOR SUBSCRIPTIONS, ADDRESS CHANGES, ADJUSTMENTS, OR BACK ISSUE at the beginning of January, I and founder of his daily obliga- cause they are under SEC laws,” INQUIRIES: Please write to WOMEN’S WEAR DAILY, P.O. Box 15008, North Hollywood, CA 91615-5008; Call 800-289-0273; or visit www.subnow.com/wd . Four weeks is required for change of address. Please give both new and old address as printed was sitting in my office, think- tions just like that. Today, with Ley said. “We are a global on most recent label. Subscriptions Rates: U.S. possessions, Retailer, daily one year: $109; Manufacturer, daily one year $145. ing, ‘I have a contract until 2008 corporate governance in brand. Lots of consumers want All other U.S., daily one year $205. Canada/Mexico, daily one year, $295. All other foreign (Air Speed), daily one year $595. First copy of new subscription will be mailed within four weeks after receipt of order. Address all editorial, business, and as ceo.’ I wanted to initiate the Germany, 80 percent of your time to buy shares. It’s a good market- production correspondence to WOMEN’S WEAR DAILY, 7 West 34th Street, New York, NY 10001. For permissions and reprint recruitment process.’” is spent in conference rooms. But ing tool, and it gives the compa- requests, please call 212-221-9595 or fax requests to 212-221-9195. Visit us online: www.wwd.com. To subscribe to other Instead of going to head- in rtw, you have to be in the mar- ny good exposure domestically.” Fairchild magazines on the World Wide Web, visit www.fairchildpub.com. Occasionally, we make our subscriber list available to carefully screened companies that offer products and services that we believe would interest our readers. If you do not want to hunters, Ley created his own ket every day. You have to see Ley, who would typically receive these offers and/or information by mail and/or e-mail, please advise us at P.O. Box 15008, North Hollywood, CA 91615- matrix of potential candidates what is going on, to listen to the come to New York twice a year 5008 or call 800-289-0273. and their characteristics, from stores. You have to travel, and for market, plans to spend more WOMEN’S WEAR DAILY IS NOT RESPONSIBLE FOR LOSS, DAMAGE, OR ANY OTHER INJURY TO UNSOLICITED MANUSCRIPTS, UNSOLICITED ART WORK (INCLUDING, BUT NOT LIMITED TO, DRAWINGS, PHOTOGRAPHS, AND ready-to-wear experience, entre- understand where the future is.” time here in the future for per- TRANSPARENCIES), OR ANY OTHER UNSOLICITED MATERIALS. THOSE SUBMITTING MANUSCRIPTS, PHOTOGRAPHS, ART preneurial skills, experience of Escada, once one of the most sonal appearances and fashion WORK, OR OTHER MATERIALS FOR CONSIDERATION SHOULD NOT SEND ORIGINALS, UNLESS SPECIFICALLY REQUESTED TO DO SO BY WWD IN WRITING. MANUSCRIPTS, PHOTOGRAPHS, AND OTHER MATERIALS SUBMITTED MUST BE branded goods and international profitable European fashion shows and to meet with the staff. ACCOMPANIED BY A SELF-ADDRESSED OVERNIGHT-DELIVERY RETURN ENVELOPE, POSTAGE PREPAID. retail experience. Rheinboldt, houses, faced its challenges in He also plans to devote more who had successfully turned the Nineties, and Ley conceded time to growing the company in around Escada’s Primera busi- that one of the biggest mistakes Russia, China and Southeast MONDAY: New York Spring II Apparel Market ness, which includes the Laurèl, the company made was to go Asia, and there are plans to open (through Nov.