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Arnault's Culture Club WWDTUESDAY, OCTOBER 21, 2014 ■ $3.00 ■ WOMEN’S WEAR DAILY Arnault’s Culture Club the strongest links with artists — and for the longest time,” the By MILES SOCHA chairman and chief executive offi cer of LVMH Moët Hennessy Louis PARIS — The convergence of fashion and art — plus a dash of Vuitton told WWD in an interview on the eve of the opening event, political intrigue — reached a new apex in Paris on Monday night which was peopled by fashion designers, Hollywood actresses, with the offi cial inauguration of the Louis Vuitton Foundation. politicians, artists and LVMH brass. Luxury titan Bernard Arnault beamed proudly as he and French While known as one of Europe’s most formidable entrepreneurs, President François Hollande pushed a button to light up the new Arnault waved off business talk to delve into one of his favorite Frank Gehry-designed structure, which glowed like some futuristic subjects — creativity — the fuel behind the $40 billion luxury sailing ship amidst the parkland in which it is set. empire he constructed in roughly one generation. It was a moment to savor for Arnault, a personal project of art “Since I arrived at LVMH, I thought it would be a good idea to sponsorship, and a gift to France that he named after his biggest pay homage to the creative realms that have brought economic and most profi table brand. success to our business, Vuitton in particular,” he said. “Louis Vuitton is the brand in our group that probably has SEE PAGE 4 From left: Raf Simons, Marion Cotillard, Bernard Arnault, Michelle Williams and Nicolas Ghesquière at the opening of the Louis Vuitton Foundation in Paris Monday night. PHOTO BY STÉPHANE FEUGÈRE 2 WWD TUESDAY, OCTOBER 21, 2014 WWD.COM New CEOs at Bottega, Kane THE BRIEFING BOX Alexandre de Brettes and will also report to Bizzarri. IN TODAY’S WWD By JOELLE DIDERICH De Brettes will stay at the company to oversee the hand over before taking up another position within the group. PARIS — Kering has appointed new chief executive A graduate of Manchester Metropolitan officers at Bottega Veneta and Christopher Kane as University, Crook joined Stella McCartney in 2004 part of a management reshuffle in its luxury divi- as merchandise and business development direc- sion unveiled earlier this year, WWD has learned. tor and was appointed vice president in 2009. She Carlo Alberto Beretta will take over as ceo of subsequently acted as a strategic brand and busi- Bottega Veneta effective Jan. 7. A graduate from ness consultant to the British Fashion Council and WALKER Bocconi University in Milan, Beretta joins the fash- leading fashion brands for two years. ion house from Ermenegildo Zegna, where he has Bizzarri trumpeted Crook’s strong merchandis- ELYSE spent the last 11 years, most recently as retail de- ing and commercial skills and said her expertise in FOR velopment director. Beretta previously worked at business development acquired over the years would Valentino and La Rinascente. help the Kane brand realize its expansion potential. IMAGES He will report to Marco Bizzarri, the former ceo of “I would like to warmly thank Alexandre de Bottega Veneta, who in July took up his new post as Brettes for his dedication to Christopher Kane and ceo of Kering’s luxury couture and leather goods divi- for having successfully accomplished the integration sion, based in Cadempino, Switzerland, where Kering of the brand within the Kering group,” he added. Shay Mitchell at the KEMPIN/GETTY has a centralized logistics and distribution hub. As part of the reorganization of the luxury divi- Pink Party in Los As expected, Bizzarri will remain president of sion, revealed in April, former Louis Vuitton execu- Angeles. For more, JASON Bottega Veneta in order to ensure a smooth transi- tive Albert Bensoussan now heads Kering’s luxury see WWD.com. BY tion, Kering said. watches and jewelry division. PHOTO Bizzarri said he’s confident Beretta “has the Both report to François-Henri Pinault, chairman skills and experience necessary to build on the and ceo of Kering, and sit on its executive commit- work done so far and to continue supporting the tee. Gucci, the cash cow of the French conglomerate growth of the brand globally.” and its largest property, operates separately from The convergence of fashion and art — plus a dash of political Meanwhile, Sarah Crook has been named ceo of those divisions under Patrizio di Marco, its chair- intrigue — reached a new apex in Paris Monday night with the Christopher Kane, effective Nov. 17. She succeeds man and ceo since 2009. official inauguration of the Louis Vuitton Foundation. PAGE 1 Kering has appointed new chief executive officers at Bottega Veneta and Christopher Kane as part of a Rayden to Retire From Justice & Brothers management reshuffle. PAGE 2 MICHAEL RAYDEN, president and chief executive shops are called Justice & Brothers, of which there Primark will expand its entry into the northeastern U.S. officer of the Justice & Brothers girls and boys sub- are 216, including nine in Canada. Brothers was market via retail space in seven Sears stores. PAGE 8 sidiary of Ascena Retail Group Inc., will retire at launched online in 2011 and in stores in 2012. the end of January. Rayden, a 45-year veteran of retailing, led Justice for L’Oréal USA signed a definitive agreement to purchase Carol’s Herbert Mines Associates has begun a search for the last 19 years. Justice was formerly called Limited Daughter, the urban beauty brand founded by Lisa Price in her a new president and ceo of the division. Too, which Rayden shut down to convert to Justice. Brooklyn kitchen in 1993. PAGE 8 David Jaffe, Ascena’s president and ceo, said “For me, the time is right to shift my attention Monday that it was completely Rayden’s decision to from fashion to family, allowing a new generation Cara Delevingne launched the “Cara D for DKNY” capsule retire. Rayden is 66. Jaffe said internal and external of talent to step into the spotlight and confidently PAGE 8 candidates to succeed Rayden will be considered. lead the business into its next phase of growth and collection in London on Saturday. Justice & Brothers operates about 1,006 stores. success,” said Rayden. He added that the mission Most are called Justice because they don’t house at Justice has been to help boys and girls feel confi- Value Retail, the developer of the nine Chic Outlet Shopping Brothers in-store shops. Those that include Brothers’ dent and express themselves. — DAVID MOIN Villages in Europe, celebrated the grand opening of its first outlet mall in China. PAGE 9 Nilit said it has signed an agreement to acquire Invista’s Americana, Brazil, manufacturing site. PAGE 10 VF Boosts North Face, Vans Ad Spend full-year guidance, an increase in gross margin to Boontheshop has a new 27,000-square-foot flagship in Seoul, By ARNOLD J. KARR 48.3 percent of sales from 47.6 percent a year ago South Korea, designed by Peter Marino. PAGE 10 and an increase in inventories — 4 percent to $1.82 VF CORP. is padding the fourth-quarter marketing billion — that was smaller than its revenue increase. A new look and a series of flush collectors gave a big boost to budgets of its The North Face and Vans brands as it Shares, down on the initial disclosure of results, the 12th edition of the Frieze art fair. PAGE 10 looks to finish the year on a high note. ended the day up 0.3 percent at $63.96. The brands, two of five in the VF portfolio with VF has said throughout 2014 that it expected The three-day London Collections: Men has been transformed annual sales in excess of $1 billion, will receive to see second-half improvement in its jeanswear into a four-day event due to the rising number of shows, $10 million in additional marketing spending dur- business, revenues for which declined 2.5 percent presentations, parties and events. PAGE 11 ing the fourth quarter as the company’s Outdoor to $1.3 billion in the first six months of the year. and Action Sports coalition, responsible for about Jeanswear revenues were up 0.4 percent to $750.4 58 percent of VF’s year-to-date revenues, zeroes in million, and ahead 2 percent at constant curren- Julia Cumming may be deepening her role with Saint Laurent on a double-digit increase for the year. OAS, which cy, in the third quarter, although segment profit and could end up in its spring ads being shot in Paris now, also includes Timberland and other brands, grew dropped 0.8 percent. While Wrangler revenues, de- according to sources. PAGE 11 10.6 percent to $2.18 billion in the third quarter, rived principally from men and in the mass chan- and the unit’s 12.9 percent increase in operating nel, rose 3 percent, the Lee brand, more reliant ON WWD.COM income helped offset profitability declines in the on females and midtier stores, saw revenues con- Jeanswear, Sportswear and Contemporary units. tract 1 percent, with a “low-double-digit decline in EYE: Elyse Walker’s 10th and final Pink Party at Santa Monica While The North Face, Vans and Timberland tal- the Americas region partially offset by 30 percent Airport drew a cast of Los Angeles personalities, including lied strong revenue growth of 9, 12 and 15 percent, growth in Asia Pacific and a low-single-digit in- Shay Mitchell, Jennifer Garner, Maria Shriver, Katherine respectively, those figures represented a sequential crease in European sales,” the company said. Schwarzenegger and Molly Sims.
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