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Fuchsia Shock CLEAR SKIES THE RAIN IN LOS ANGELES STOPPED JUST IN TIME FOR THE 86TH ACADEMY AWARDS, WHERE THE RED-CARPET FASHIONS RANGED FROM RED TO WHITE TO BLUE AND BLACK. FOR MORE ON THE OSCARS, SEE PAGES 21 TO 23. SAID EYEING U.S. RETAILER Fast’s Global Ambitions Could Involve J. Crew By EVAN CLARK FAST RETAILING CO. LTD.’S Tadashi Yanai appears ready to spend big time in his drive to become the world’s largest fashion retailer — including up to $5 WWD billion to snap up J. Crew Group Inc. and bring on board his idol, Millard “Mickey” Drexler. Uniqlo-parent Fast Retailing is in talks to acquire J. MONDAY, MARCH 3, 2014 Q $3.00 Q WOMEN’S WEAR DAILY Crew from owners TPG and Leonard Green & Partners, and should the talks go smoothly, a deal could be final- ized within the next two months, according to a source. Drexler himself would earn a major windfall — he owned 5.4 percent of the retailer in 2010, although sources say he may have increased his stake since then. A buyout would be a major coup for Yanai, chair- man, president and chief executive officer of Fast Retailing. Long an admirer of Drexler, J. Crew’s Fuchsia chairman and ceo, Yanai borrowed much of the ca- sual basics playbook the merchant developed during his years at Gap Inc. and used it to successfully march Uniqlo out across the world. J. Crew — which has dipped a toe in international markets but is still mostly raw potential abroad retail- wise — would give Fast Retailing a strong growth vehi- Shock cle globally and a solid foothold in the U.S., enabling it to better take on its rivals H&M, Gap and Inditex, parent of Zara. J. Crew has 330 stores, almost all in With a strong play on color and America, and saw revenues of $2.43 billion last year. impressive tailoring, Raf Simons But a sale to Fast Retailing isn’t the only option. J. Crew and its owners are also exploring an initial delivered his best Dior collection public offering with Goldman Sachs, which declined yet. Double dresses were a key look. to comment. The talks with Fast Retailing were first reported by The Wall Street Journal Friday. Simons worked them in bold contrasts A Fast Retailing spokesman in Tokyo declined like this short emerald silk crepe to comment, while Drexler could not be reached. underpinning topped Interestingly, the legendary retailer was in the Far East last month during New York Fashion Week and with a sturdy missed J. Crew’s seasonal presentation. It was un- fuchsia wool usual for Drexler to do so, since he generally uses layer slit FALL 2014 SEE PAGE 8 high and embroidered PARIS with a faux COLLECTIONS Nasty Gal Adds Execs, brooch. For more from Expands Collections Paris, see pages 10 to 19. By RACHEL STRUGATZ NASTY GAL KEEPS growing up. The rapidly evolving online retailer continues to bolster its executive ranks and to add more product categories to its in-house designed collections. In an- other major step, the brand is planning the opening of its first brick-and-mortar store. The company, estimated to have sales close to $130 million last year, has brought on Sheree Waterson as president and chief product officer. Most recently, Waterson spent five years at Lululemon as chief prod- uct officer, a post she left shortly after the company’s high-profile recall in the spring of too-sheer yoga bot- toms. At Lululemon, she spearheaded supply chain, merchandise and design during a period where the company saw significant growth. “Lululemon did a really good job of managing that [the fabric issue]. They had a ton of changes of leader- ship — they have a new ceo,” Sophia Amoruso, Nasty Gal founder, chief executive officer and creative di- rector, said of Waterson and her tenure at Lululemon. “She [Waterson] had a great run and she was there for five-and-a-half years and built an amazing business. I don’t look at much more than that.” Waterson fills a role that previously had been held by Deborah Benton, Nasty Gal’s chief operating offi- cer and president, who left the company last month. Waterson is the latest addition to an executive team that now, as well as Amoruso, includes chief financial officer Robert Ross, who joined in December from Ideeli but had a 13-year stint at Urban Outfitters Inc., PHOTO BY GIOVANNI GIANNONI SEE PAGE 6 T:21” T:13.875” SLEEK IT IRON STRAIGHT HEATSPRAY Professional-grade formula for 3 days of frizz control and heat-styling protection up to 450°. BE EXTRAORDINARY hairstyle.com ©2014 L’Oréal USA, Inc. Ad #: N14HC001D Bleed: None AD: Nicholas Bullock Headline: #Lift it... Trim: 21” x 13.875” CW: None Visual: Model + Products Live: None CD: Martha Brooks Space/Color: S4C Gutter: .125 each side AP: None Publication: WWDaily Newsp PP: Mary Angiuli Client: L’Oréal COS (0030005503) Document Name: IG_N14HC001D_05.indd Product: Advanced Hair Styling (HC) (0010022925) Document Path: ME Production:Volumes:ME Production:Loreal:HC:Newspaper:N14HC001_AdvancedHairCare:IG_ Job #: 10185309-1252-F0 N14HC001D_05.indd Print/Export Time: 2-20-2014 12:56 PM Font Family: Helvetica (Medium; Type 1; OK), Trade Gothic (Bold Condensed No. 20; Type 1; OK), Helvetica Neue (77 Bold Print Scale: 100% Condensed, 45 Light, Condensed Bold; Type 1, True Type; OK) BEAUTY MagNwp User Name: erick.wilson Ink Name: CMYK Proof #: 5 Link Name: IG_9279MCN_ls_fin8_NP_v5.tif (CMYK; 710 ppi; Up to Date; 63.36%), IG_9016MCN_sleekB&W_ext_fin3_NP_ PM: Ralph Cirillo v4.tif (CMYK; 448 ppi; Up to Date; 140.42%), IG_SLEEK IT_Trio_v3_NP_v4.tif (CMYK; 638 ppi; Up to Date; 47%), Paris_R_ InDesign Version: CS6 KO_2-worth_PERIOD.ai (Up to Date; 73.85%) Slug Name: T:21” T:13.875” SLEEK IT IRON STRAIGHT HEATSPRAY Professional-grade formula for 3 days of frizz control and heat-styling protection up to 450°. BE EXTRAORDINARY hairstyle.com ©2014 L’Oréal USA, Inc. Ad #: N14HC001D Bleed: None AD: Nicholas Bullock Headline: #Lift it... Trim: 21” x 13.875” CW: None Visual: Model + Products Live: None CD: Martha Brooks Space/Color: S4C Gutter: .125 each side AP: None Publication: WWDaily Newsp PP: Mary Angiuli Client: L’Oréal COS (0030005503) Document Name: IG_N14HC001D_05.indd Product: Advanced Hair Styling (HC) (0010022925) Document Path: ME Production:Volumes:ME Production:Loreal:HC:Newspaper:N14HC001_AdvancedHairCare:IG_ Job #: 10185309-1252-F0 N14HC001D_05.indd Print/Export Time: 2-20-2014 12:56 PM Font Family: Helvetica (Medium; Type 1; OK), Trade Gothic (Bold Condensed No. 20; Type 1; OK), Helvetica Neue (77 Bold Print Scale: 100% Condensed, 45 Light, Condensed Bold; Type 1, True Type; OK) BEAUTY MagNwp User Name: erick.wilson Ink Name: CMYK Proof #: 5 Link Name: IG_9279MCN_ls_fin8_NP_v5.tif (CMYK; 710 ppi; Up to Date; 63.36%), IG_9016MCN_sleekB&W_ext_fin3_NP_ PM: Ralph Cirillo v4.tif (CMYK; 448 ppi; Up to Date; 140.42%), IG_SLEEK IT_Trio_v3_NP_v4.tif (CMYK; 638 ppi; Up to Date; 47%), Paris_R_ InDesign Version: CS6 KO_2-worth_PERIOD.ai (Up to Date; 73.85%) Slug Name: 4 WWD MONDAY, MARCH 3, 2014 WWD.COM Old Navy Taps Sarah Holme THE BRIEFING BOX street in Shanghai’s downtown of the Old Navy business, repre- IN TODAY’S WWD By DAVID MOIN Jing’An District, the store’s senting an estimated 50 percent opening was celebrated in exu- of the volume. Most of Old Navy’s OLD NAVY HAS BROUGHT on berant fashion with perfor- shoppers are women, who also Sarah Holme as vice president mances from the University of buy the value chain’s men’s and of women’s design, a key role of Southern California’s drumline. kids’ merchandise. Paris Fashion Week heightened significance in light Old Navy is planning to open Holme previously was the cre- street style. For more, of the brand’s accelerating over- a total of five stores in China this ative director of U.K.-based Jack see WWD.com. seas expansion and development year, concentrating on Shanghai Wills, where she was instrumental of “a global collection.” for the time being, before testing in growing the brand in that coun- “Essentially, it’s one broad line the waters in other Chinese cities. try and bringing it to Asia and the that each of the countries selects In about a month, Old Navy U.S. Earlier, she worked at Laura from,” said Jill Stanton, the chain’s plans to launch a franchise busi- Ashley and Abercrombie & Fitch. executive vice president of global ness in the Philippines. Old Navy’s At Old Navy, she reports to product design and development, Asian expansion commenced with Stanton, who said that while describing the global collection. a pilot store in Japan in 2012. Last Holme’s arrival does not signal Old Navy’s first store in year marked Old Navy’s Asian ex- any major shift in the design direc- China opened Saturday on pansion in earnest, with about two tion, her skill set will be critical to DABROWSKI Shanghai’s Nanjing West Road. dozen stores opening in Japan. Old Navy’s expansion. “She brings Simultaneous with the opening, The brand sees 43 units operating a broader skill set. Instead of just KUBA Old Navy, which is a 1,000-unit in Japan by the end of 2014. product design, she understands BY division of Gap Inc., launched a Outside the U.S., Old Navy brand building,” Stanton told PHOTO dedicated e-commerce site for operates in Canada and has an WWD. Stanton also cited Holme’s China. The plan is to open a total e-commerce presence in nearly expertise in textiles, colors, pat- of five stores in China in fiscal 80 countries.
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