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Opening February 18 WWD Feb16 Wrap Armani Covers1-2.qxp 2/4/09 5:01 PM Page 1 GIORGIO ARMANI CORPORATION 114 FIFTH AVENUE, NEW YORK, NY 10011 T. 212.209.3595 F.212.209.3795 WWD MONDAY - OVERSIZED COVER WRAP (4C) POSITION: Cover ISSUE: 2-16-2009 DUE DATE: 2-3-2009 TRIM: 11.375" x 14.75" BLEED: 11.625" X 15" SPECS: DIGITAL WWD Feb16 Wrap Armani Covers1-2.qxp 2/4/09 5:01 PM Page 2 OPENINGOPENING FEBRUARFEBRUARYY 1188 GIORGIO ARMANI CORPORATION 114 FIFTH AVENUE, NEW YORK, NY 10011 T. 212.209.3595 F.212.209.3795 WWD MONDAY - OVERSIZED COVER WRAP (4C) POSITION: Cover 2 ISSUE: 2-16-2009 DUE DATE: 2-3-2009 TRIM: 11.375" x 14.75" BLEED: 11.625" X 15" SPECS: DIGITAL Page 1 Monday s BEAUTY: L’Oréal REVIEWS: More taps Attal as head of on Victoria collections/fall ’09 global R&D; Roze to Beckham, head U.S., page 2. DKNY, Nicole Miller, Barbie and Calvin s EYE: Partying with Klein Men’s, s FASHION: Ones to Watch at Prada and McQ s for Target, page 4. pages 6 to 15. NEW London Fashion Week, page 22. Women’s Wear Daily • The Retailers’ Daily Newspaper • February 16, 2009 • $3.00YORK WwDMONAccessories/Innerwear/LegweardAY Pile It On More is sometimes more, and it certainly was in the terrific fall collection Diane von Furstenberg showed on Sunday. There was plenty of mixing, matching and layering in coordinating or contrasting graphic patterns. Here, her bold shrug and sweater coat worn with a velvet dress, leggings and a pom-pom hat. For more on the season, see pages 6 to 15. The New M&A Mantra: Buyers Are Out There, But Only for Bargains By Whitney Beckett For fashion and retail brands looking for an investor or buyer, there’s good news and bad news. The bright spot is that there are actually still buyers out there looking to make deals despite the credit freeze and recession. The downer is that they only want to pay rock- bottom prices. Investor appetite for paying high multiples for apparel companies has gone the way of shoppers’ willingness to pay full- price at retail. Those firms remaining on the acquisitions hunt include: • Kellwood Co., which is eager to acquire a denim brand. • Bagir Ltd., the makers of technologically innovative men’s and women’s suits, which is See M&A, Page21 PHOTO BY ROBERT MITRA ROBERT PHOTO BY 2 WWD, MONDAY, FEBRUARY 16, 2009 WWD.COM L’Oréal Taps Attal to Head R&D, Roze for U.S. Unit By Pete Born Although some securities analysts have sharp- ly criticized L’Oréal for weak quarterly sales after FOur SOmetimes trying years A results in the last year, exacerbated by what at the helm of L’Oréal’s North American opera- at least one financial house sees as a rollback WWDAccessories/Innerwear/LegwearMONDAY tion, Laurent Attal is being promoted back to the of advertising, Attal maintains that the North Paris headquarters to take charge of the indus- American subsidiary has picked up market FASHION try leader’s global research and development ef- share in three of its four divisions — consumer New York Fashion Week continued with fort, plus its year-old innovation department. products, professional salon products and the 6 collections from Diane von Furstenberg, DKNY, Attal will be replaced in New York by active dermatological division — during the past Nicole Miller and Lela Rose. Frederic Roze as the new president and chief year. Attal admitted that fourth business, depart- executive officer of L’Oréal USA. ment stores, has been “challenging.” Agon only GENERAL Attal’s new title will be executive vice presi- had praise: “He did a terrific job in a difficult The good news for brands seeking an investor or dent and managing director of research and in- environment during the last four years.” s 1 buyer is there are buyers out there, but the bad novation, succeeding Jean-François Grollier, who Attal pointed with pride to the Garnier brands news is they don’t want to pay much. is retiring at age 65 after 40 years with L’Oréal. entry into skin care with Nutritioniste in January In a telephone interview Saturday, Jean-Paul 2007, which netted L’Oréal five share points into 13 Band of Outsiders designer Scott Sternberg has Agon, ceo of parent L’Oréal, described Grollier the highly competitive mass skin care market. struck a licensing deal with Pier SpA for his as the driving force behind the company’s R&D The Consumer Products Division sailed into the women’s line Boy by Band of Outsiders. effort, the largest in the industry accounting for downdraft of recession by ramping up its adver- ACCESSORIES: Independent jewelry designers 3.3 to 3.4 percent of sales (last year 17 billion tising by 10.9 percent for the fourth quarter. The 18 are discovering new modes of survival: keeping euros) and employing more than 3,000 workers. result was a 2.3 percent increase in sales for the prices modest and designs spectacular. Grollier had the vision of expanding the scope quarter while competitors suffered a 2.2 percent of beauty research beyond chemistry to include dip, said Joseph Campinell, division president. 20 INNERWEAR: The Emporio Armani Underwear biology and life sciences while building a world- Just weeks ago, David Cragg announced his re- brand for men and women is taking its cue from wide network of laboratories and evaluation cen- tirement as L’Oréal Professional Products Division’s the line’s rtw as it enters the U.S. market. ters. Agon said that the innovation department, president. While criticized by some on Wall Street, Lavelle Olexa, Lord & Taylor’s senior vice president which is charged with “anticipating new trends Attal was supported by Agon for making what he 24 and fashion director, is leaving the company on and working with the labs at an early stage,” was saw as key acquisitions, namely purchase of three Feb. 27 after 20 years at the store. linked to Attal’s R&D portfolio “to accelerate salon distribution operations. Attal pointed out that the innovation and make sure the the move allowed L’Oréal to do what 24 Fast-fashion chain Forever 21 plans to launch a R&D force drives to deliver [it].” it does in the rest of the world— sell prototype in Los Cerritos Center near Los Angeles Agon added, “we believe this is direct to hair salons in a country that this year that will double its average store size. very important for the company. has over 200,000 salons. By acquiring 26 Wal-Mart Stores has begun selling a new men’s What sells now is innovation.” control of distribution for almost 50 line called American Classics from Russell Roze, 47, head of the mass-mar- percent of its business “we can bet- Simmons to a small number of its U.S. doors. ket Consumer Products Division ter control the destiny of our salon for Europe, is to arrive in New business,” he said. WWD Accessories is included York in March and succeed Attal Moreover, he argues, it gives Tory Burch with this issue as a supplement. by July 1. He joined L’Oréal in 1986 L’Oreal a direct link “allowing us to Classified Advertisements.................................................................................................27 and became managing director of Laurent get closer to our hairdressers,” Attal the Consumer Products Division of Attal said. This is particularly necessary TO E-MAIL REPORTERS AND EDITORS AT WWD, THE ADDRESS IS L’Oréal Russia before being named in the case of beauty supply stores, [email protected], USING THE INDIVIDUAL’s NAME. general manager of Gemey France which are patronized by booth rent- WWD IS A REGISTERED TRADEMARK OF ADVANCE MAGAZINE PUBLISHERS INC. COPYRIGHT ©2009 in 1996. ers, who comprise a significant slice FAIRCHILD FASHION GROUP. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. Later, as managing director of of the hairdresser population. VOLUME 197, NO. 34. WWD (ISSN 0149–5380) is published daily (except Saturdays, Sundays and holidays, with one additional issue in January, May, October, November and December, two additional issues in April, June and L’Oréal Argentina, Roze is credited He also pointed to a strengthen- August, three additional issues in March and September, and four additional issues in February) by Fairchild Fashion with orchestrating the recovery of ing of the dermo cosmetics busi- Group, which is a division of Advance Magazine Publishers Inc. PRINCIPAL OFFICE: 750 Third Avenue, New York, NY the business amid a financial crisis. ness, with the dermatological skin 10017. Shared Services provided by Condé 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 He moved to Spain in 2002 as head care products being merchandised Resources. Periodicals postage paid at New York, NY, and at additional mailing offices. Canada Post Publications Mail of both the Consumer Products and in their sections of pilot CVS drug- Agreement No. 40644503. Canadian Goods and Services Tax Registration No. 886549096-RT0001. Canada Post: Professional Products Divisions, stores, amounting to 700 doors in return undeliverable Canadian addresses to: P.O. Box 503, RPO West Beaver Cre, Rich-Hill, ON L4B 4R6 POSTMASTER: SEND ADDRESS CHANGES TO WOMEN’S WEAR DAILY, P.O. Box 15008, North Hollywood, CA 91615–5008. FOR and boosted market share in many the Northeast and California. SUBSCRIPTIONS, ADDRESS CHANGES, ADJUSTMENTS, OR BACK ISSUE INQUIRIES: Please write to WWD, P.O. Box categories, L’Oréal said. Roze be- Frederic 15008, North Hollywood, CA 91615-5008, call 800-289-0273, or visit www.subnow.com/wd.
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