Page 1 Monday NEWS: RVC acquires S Ellen S ACCESSORIES: IN SIDE: Tracy, Accessories S Sparkle dimming QBHF supplement for smaller jewelers amid cash flow crisis, page 18. 8PNFOT8FBS%BJMZt5IF3FUBJMFST%BJMZ/FXTQBQFSt+VMZ t S Fashion’s take on the Accessories/Innerwear/Legwear Space Age, pages 6 and 7. WWDMONDAY Robert Lee Morris’ sterling silver necklace, Jimmy Choo’s acrylic clutch, Alexis Bittar’s Swarovski crystal, rhodium and Lucite bangle, Lisa Perry’s vinyl bag and Tom Binns’ rhodium-plated sterling silver necklace. Back From the Brink: CIT Said Near $3B Deal To Avoid Bankruptcy By WWD Staff A WORST-CASE SCENARIO APPEARED to have been avoided late Sunday as CIT Group Inc. was reported to have reached a tentative $3 billion financing deal with bondholders, allowing the entire apparel supply chain to breathe a large sigh of relief. News of the deal — the most welcome about CIT in more than a week — allowed suppliers and retailers a respite as they sought to cope with the potentially catastrophic effects a CIT bankruptcy would have had on the shipment of fall and holiday goods by vendors, as well as the day-to-day credit requirements of many stores. An attempt by CIT last week to secure a second round of federal financing ended in failure. With CIT’s fate uncertain as the weekend began, many small and midsized companies FF See CIT, Page 3 HO Forever Young The resort collections may have been short on Judy Jetson looks, but ANNA FISC ANNA H S there were elements that belied a Space Age inspiration, especially in HO S BY accessories, via techy materials and planetary shapes — proving that LED LED outer space continues to intrigue decades after the first moon walk. TY ; S O In honor of its anniversary, WWD has taken a look at how space travel influenced designers then and now. For more, see pages 6 to 9. N AQUIN N OH PHOTO BY J BY BY PHOTO 2 WWD, MONDAY, JULY 20, 2009 WWD.COM RVC Buys Ellen Tracy Collections By Vicki M. Young Platt said the search for a sportswear licens- ee began in March. The company was working WWDAccessories/Innerwear/LegwearMONDAY ELLEN TRACY HAS A NEW HOME. with financial adviser MMG in evaluating sev- FASHION Brand Matter LLC has sold the opera- eral licensee partners. tional part of the Ellen Tracy business to RVC “Brand Matter looks forward to working to- The next generation of American designers, Enterprises and licensed RVC gether with RVC to grow 6 not alive when the first men walked on the moon, for use of the brand for wom- the Ellen Tracy business,” create Space Age chic for men and women. A look from en’s sportswear in both the he said. Ellen Tracy’s better and bridge categories. Allan Ellinger, manag- GENERAL fall 2009 line. Mark Mendelson, president ing director of MMG, said, A worst-case scenario appeared to have been and chief executive officer of “Ellen Tracy is a world- 1 avoided late Sunday as CIT Group Inc. reached a Ellen Tracy, will become pres- class brand that RVC be- $3 billion financing deal with bondholders ident of the Ellen Tracy divi- lieves it can develop into a Swiss watch dynamo Christian Bedat is back with sion of RVC. The operations significant business.” 4 will remain in Manhattan, RVC ceo Ruby Azrak said a new Web-based project called Red8world.com, where RVC is located. the company has been look- an animation-packed e-commerce site. Financial terms of the trans- ing to expand its apparel 18 Independent jewelers are being hit by an epidemic action were not disclosed. business within the upscale of bankruptcies and closings likely to fundamentally Market sources said there department store sector. alter the fine jewelry market. have been discussions for an RVC is owned by the Ellen Tracy line in the better Azrak family and holds 20 Galeries Lafayette’s new shoe department, billed category at Macy’s. But Brand the licenses for Beyoncé as the world’s largest dedicated shoe space, has Matter president Rick Platt Knowles’ Deréon line and opened on the Parisian store’s bottom floor. said Ellen Tracy’s manage- Luxirie. It was previous- EYE ment has had conversations ly partners with Russell with a variety of retailers. Simmons in Phat Farm and Phillip Lim turned the volume up when he returned S 24 Macy’s didn’t respond to a Baby Phat. home to Los Angeles to celebrate the first request for comment. Brand Matter is owned anniversary of his Robertson Boulevard boutique. Brand Matter will continue by an investment group Molly Sims in WWD Accessories is included its business as owner of the led by Windsong Brands 3.1 Phillip Lim. in this issue as a Supplement. intellectual property of Ellen LLC and Hilco Consumer Classified Advertisements.................................................................................................23 Tracy and Caribbean Joe. As Capital. Fashionology TO E-MAIL REPORTERS AND EDITORS AT WWD, THE ADDRESS IS licensor, Brand Matter derives Group, owned by Windsong [email protected], USING THE INDIVIDUAL’S NAME. revenues from royalties gener- and Hilco, has wound down WWD IS A REGISTERED TRADEMARK OF ADVANCE MAGAZINE PUBLISHERS INC. COPYRIGHT ©2009 ated from those trademarks. its operations with the FAIRCHILD FASHION GROUP. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. “Brand Matter’s plan is to Ellen Tracy transaction as VOLUME 198, NO. 13. WWD (ISSN 0149–5380) is published daily (except Saturdays, Sundays and holidays, with one For more on additional issue in January, May, October, November and December, two additional issues in March, April, June and acquire other trademarks,” Ellen Tracy, well as the Caribbean Joe li- August, and three additional issues in February and September) by Fairchild Fashion Group, which is a division of Advance Platt said. “It’s a case of get- see WWD.com cense agreement with Ivory Magazine Publishers Inc. PRINCIPAL OFFICE: 750 Third Avenue, New York, NY 10017. Shared Services provided by Condé ting the right fit.” International a month ago. Nast Publications: S. I. Newhouse, Jr., Chairman; Charles H. Townsend, President/CEO; John W. Bellando, Executive Vice President/COO; Jill Bright, Executive Vice President/Human Resources. Periodicals postage paid at New York, NY, and at additional mailing offices. Canada Post Publications Mail Agreement No. 40644503. 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