PHARRELL’S THE FASHION NEXT PROJECT NOMINEES ARE… PHARRELL WILLIAMS LINKS THE CFDA REVEALS THE WITH COMME DES GARÇONS NOMINEES AND HONOREES FOR L.A. TIME TO LAUNCH A FRAGRANCE. ITS FASHION AWARDS. PAGE 2 PAGE 2 LOS ANGELES FASHION WEEK KICKS OFF. PAGE 6

$1.8 BILLION DEAL Men’s Wearhouse Lands Jos. A. Bank

By ARNOLD J. KARR and JEAN E. PALMIERI

IN THE END, Goliath prevailed. Ending a back-and-forth bidding war that start- ed last fall, The Men’s Wearhouse and Jos. A. Bank Clothiers Inc. on Tuesday reached an agreement for the larger Men’s Wearhouse to acquire the smaller WEDNESDAY, MARCH 12, 2014 ■ $3.00 ■ WOMEN’S WEAR DAILY Jos. A. Bank for $65 a share, or about $1.8 billion. WWD Together, the two men’s wear giants will have more than 1,700 stores in the U.S. and about 23,000 employ- ees — creating the fourth-largest men’s apparel re- tailer in the country with combined annual sales of about $3.5 billion. It will lag only Macy’s, Kohl’s and J.C. Penney in men’s wear volume. “We are pleased to have reached this agreement with Jos. A. Bank, which we believe will deliver substantial benefi ts to our respective shareholders, The Big employees and customers,” said Doug Ewert, presi- dent and chief executive offi cer of Men’s Wearhouse. “Together, Men’s Wearhouse and Jos. A. Bank will have increased scale and breadth, and Jos. A. Bank’s strong brand and complementary business model will broaden our customer reach. We expect the transac- Sweep tion will be accretive to Men’s Wearhouse’s earnings in the fi rst full year.” Ewert declined further comment. In a season stocked with great Robert Wildrick, chairman of Jos. A. Bank, said outerwear, the cape was a standout as the deal will generate “tremendous value” for the designers showed it in company’s shareholders and “create a men’s wear powerhouse.” countless chic ways. “We feel very positive that they will continue to Ralph Lauren grow Jos. A. Bank and keep the top executives — good people are hard to get,” said Wildrick, who added that made a grand he does not plan to be part of the combined company, FALL 2014 gesture with but is hopeful that Neal Black, ceo of Jos. A. Bank, this long and will be retained. “They have not asked me to be in- TREND volved, and I don’t plan to be,” he said. “But Neal is languid style in COLLECTIONS one of the very best merchants in America.” pink shearling. Men’s Wearhouse said that management of the For more, see SEE PAGE 8 pages 4 and 5. Brendan Hoffman to Exit As Bon-Ton Stores CEO

By DAVID MOIN

AFTER A ROLLER-COASTER YEAR confronting several headwinds, The Bon-Ton Stores Inc. faces an- other hurdle — finding a new chief executive officer. Bon-Ton’s current president and ceo Brendan Hoffman has decided not to renew his contract when it expires in February 2015. He’s leaving the strug- gling regional chain in the middle of turnaround efforts he initiated. Hoffman joined the retailer in January 2012. Hoffman told WWD that he resigned because he was away from his family too much, commuting every week from New York, where his family lives, to Milwaukee, where Bon-Ton is based. “I underes- timated the toll it would take on my family with the commuting, especially with my kids being the age they are,” Hoffman said. “I am very focused on the business and what we need to accomplish. Because we are a public company, this needed to be disclosed when it did.” He has a 12-year-old son and a 10-year- old daughter. Sources said he wife did not want to re- locate the family. Hoffman has time to continue to implement changes to strengthen the business, which has been struggling for years under the weight of more than $800 million in debt and operating dated stores in economically challenged markets, but a turnaround under his watch seems remote now. Bon-Ton operates 270 department stores in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, PHOTO BY STEVE EICHNER SEE PAGE 12 2 WWD WEDNESDAY, MARCH 12, 2014

CFDA Award Nominees Set THE BRIEFING BOX

By MARC KARIMZADEH IN TODAY’S WWD

NEW YORK — The nominees and honorees for the 2014 CFDA A view of Chalk Point Kitchen. For more, see WWD.com. Fashion Awards have been set. Marc Jacobs, Joseph Altuzarra of Altuzarra and Alexander DABROWSKI

Wang are nominated for the KUBA Womenswear Designer of the BY Year award. Thom Browne, Rag

& Bone’s Marcus Wainwright SIMONS and David Neville and Public School’s Maxwell Osborne and BOYE;

Dao-Yi Chow are up for Menswear TYLER

Designer of the Year. The BY Accessories Designer of the Year PHOTO award, meanwhile, will be decided JENNA GREENE

between Wang, Mary-Kate Olsen FORD and Ashley Olsen for The Row

Tom Ford will receive the Geoffrey Beene Lifetime Achievement Award and PHOTO BY and Proenza Schouler’s Lazaro Raf Simons will receive the International Award. Hernandez and Jack McCollough. As in past years, the Swarovski cided between Marc Alary, Irene Award in Honor of Eleanor The Men’s Wearhouse and Jos. A. Bank Clothiers Inc. on award will honor a crop of emerg- Neuwirth and Jennifer Fisher. Lambert will go to Bethann Tuesday reached an agreement for the former to acquire the ing talent. In women’s wear, the As for the special honor- Hardison. Ruth Finley of latter for $65 a share, or about $1.8 billion. PAGE 1 nominees are Rosie Assoulin, ees, Tom Ford will take home Fashion Calendar will receive Wes Gordon and Creatures of the Geoffrey Beene Lifetime the 2014 Board of Director’s Brendan Hoffman, president and chief executive officer of the Wind’s Shane Gabier and Achievement Award, while Tribute nod. The Bon-Ton Stores Inc., has decided not to renew his contract Christopher Peters. In men’s Raf Simons is to receive the The awards will take place when it expires in February 2015. PAGE 1 wear, they are Hood by Air’s International Award. Paul on June 2 at Alice Tully Hall, Shayne Oliver, Tim Coppens and Cavaco is being given the Media with Swarovski’s support. John Todd Snyder, while in accessory Award in Honor of Eugenia Waters will serve as host of this Italian luxury goods maker Tod’s SpA said net profits in 2013 PAGE 3 design, the award will be de- Sheppard, while the Founder’s year’s awards. decreased by 8 percent to 133.8 million euros.

Salvatore Ferragamo SpA saw net profits rise 43 percent and Williams, Comme des Garçons in Scent Deal revenues jump 9 percent in 2013. PAGE 3

Kawakubo has teamed with a mu- up a handful of Grammys in American Eagle Outfitters Inc. said fourth-quarter profits fell By MILES SOCHA sician to create a fragrance. January — and which he re- 89 percent to $10.5 million, or 5 cents a diluted share. PAGE 3 Adrian Joffe, chief executive prised at the Academy Awards — PARIS — Will Pharrell Williams’ officer of Comme des Garçons has his own clothing lines under COS has set its West Coast debut by signing a lease for an string of hits continue at the fra- Parfums SA, said Williams “knew the Billionaire Boys Club and Ice estimated 13,000-square-foot unit in Beverly Hills. PAGE 6 grance counter? exactly what he wanted the per- Cream labels, and has unfurled The “Get Lucky” and “Happy” fume to smell like right from the a number of designer collabora- E-commerce and a rebounding women’s apparel business singer is teaming with Comme des beginning. It has been an honor tions in recent years. were on the lips of retail executives at the Bank of America Garçons to launch a scent for men to work with such a creative art- He’s done eyewear and down Merrill Lynch Consumer & Retail Conference. PAGE 7 and women, WWD has learned. ist with a great vision.” jackets for Moncler, fine jewelry Called Girl — echoing the title Williams, who created a sen- and sunglasses for Louis Vuitton The Australian Fashion Chamber has been established to of Williams’ new album — it marks sation with the oversize Vivienne and most recently unveiled a further the growth of Australian fashion. PAGE 9 the first time fashion maverick Rei Westwood hat he wore to scoop denim collaboration between G-Star Raw and Bionic Yarn, where Kate Upton has been tapped as the brand ambassador for Pharrell Williams Williams is creative director. Ye t he considers the Comme Express, the first celebrity spokeswoman to appear in the tie-up a new zenith in his fash- brand’s campaigns in the past decade. PAGE 9 ion career. “As one of my favorite designers Highlights from the South by Southwest Festival included the once said, ‘Comme des Garçons is premiere of Mike Judge’s “Silicon Valley” and a party honoring your favorite designers’ favorite xoJane’s Most Shameless People on the Web. PAGE 10 designer…the top of the top, the best of the best,’” Williams said. “I Troubled Italian fashion manufacturer Ittierre SpA has a new am so honored to be working with suitor in Gruppo Colella. PAGE 11 Comme des Garçons and cherish the education that I’ve experi- Susan Sokol has opened her own consultancy, Susan Sokol enced in this collaboration.” Consultancy LLC. PAGE 12

LEXIE MORELAND Details of the new fragrance project are to be unveiled later ON WWD.COM this spring, with bottles slated to PHOTO BY land on counters in September. EYE: A spotlight on the new restaurant Chalk Point Kitchen, from chef Joe Isidori. For more, see WWD.com.

Swatch Files Lawsuit Against Target FOLLOW US ON SOCIAL MEDIA er’s wrist twice, a face that has to its own and said the continued @ WWD.com/social By ROSEMARY FEITELBERG white numbers one through 12, sale of those watches is likely to and a round silver metal winding confuse shoppers and damage the TO E-MAIL REPORTERS AND EDITORS AT WWD, THE ADDRESS IS [email protected], USING THE INDIVIDUAL’S NAME. NEW YORK — Swatch AG has crown, among other features. company’s sales. Swatch’s aim is WWD IS A REGISTERED TRADEMARK OF ADVANCE MAGAZINE PUBLISHERS INC. filed a lawsuit against Target Corp., The suit alleges that Target to have Target cease selling the al- COPYRIGHT ©2014 FAIRCHILD FASHION MEDIA. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. alleging the discounter of selling “willfully and intentionally used leged copies, recoup profits from VOLUME 207, NO. 50. WEDNESDAY, MARCH 12, 2014. WWD (ISSN 0149–5380) is published daily (except Saturdays, Sundays and holidays, with one additional issue in March, April, May, June, August, October, November and December, watches that copy its designs. the Zebra Watch Trade Dress and prior sales and attain damages. and two additional issues in February and September) by Fairchild Fashion Media, which is a division of Advance According to the suit, which the Multi-Color Watch Trade Dress” The suit also notes that Swatch Magazine Publishers Inc. PRINCIPAL OFFICE: 750 Third Avenue, New York, NY 10017. Shared Services provided by Condé Nast: S.I. Newhouse, Jr., Chairman; Charles H. Townsend, Chief Executive Officer; Robert A. Sauerberg Jr., President; John W. Bellando, was filed in U.S. District Court, in a manner that is likely to cause “revolutionized the watch indus- Chief Operating Officer & Chief Financial Officer; Jill Bright, Chief Administrative Officer. Periodicals postage paid at New York, NY, Southern District of New York, confusion, mistake or deception. try” in the early Eighties by creat- and at additional mailing offices. Canada Post Publications Mail Agreement No. 40644503. Canadian Goods and Services Tax Registration No. 886549096-RT0001. Canada Post: return undeliverable Canadian addresses to P. O . Box 503, RPO West Swatch claims Target is commit- Executives at Swatch AG de- ing plastic-cased watches consist- Beaver Cre, Rich-Hill, ON L4B 4R6. POSTMASTER: SEND ADDRESS CHANGES TO WOMEN’S WEAR DAILY, P. O . Box 6356, ting trade-dress infringement, un- clined to comment Tuesday, as ing of only 51 components, with Harlan, IA 51593. FOR SUBSCRIPTION, ADDRESS CHANGES, ADJUSTMENTS, OR BACK ISSUE INQUIRIES: Please write to WWD, P. O . Box 6356, Harlan, IA 51593, call 866-401-7801, or email customer service at wwdPrint@cdsfulfillment. fair competition, false advertising did representatives at its law the first Swatch brand watch being com. Please include both new and old addresses as printed on most recent label. For New York Hand Delivery Service and false designation. firm Collen I P. sold in the U.S. in 1982. “Hundreds address changes or inquiries, please contact Mitchell’s NY at 1-800-662-2275, option 7. Subscribers: If the Post Office alerts us that your magazine is undeliverable, we have no further obligation unless we receive a corrected address within The filing includes images of A Target spokesman said, “It of millions” of Swatch brand one year. If during your subscription term or up to one year after the magazine becomes undeliverable, you are ever Swatch and Target watches with always has been, and continues to watches have been sold worldwide dissatisfied with your subscription, let us know. You will receive a full refund on all unmailed issues. First copy of new zebra-printed wristbands, as be, the policy of Target to respect since, according to the filing. subscription will be mailed within four weeks after receipt of order. Address all editorial, business, and production correspondence to WOMEN’S WEAR DAILY, 750 Third Avenue, New York, NY 10017. For permissions requests, please well as multicolor watches from the intellectual property rights of Based in Bienne, Switzerland, call 212-630-5656 or fax the request to 212-630-5883. For all request for reprints of articles please contact The YGS both companies. Swatch’s round, others and we expect the same the Swatch brand is part of Group at [email protected], or call 800-501-9571. Visit us online at www.wwd.com. To subscribe to other Fairchild Fashion Media magazines on the World Wide Web, visit www.wwd.com/subscriptions. Occasionally we make our brightly colored face without nu- from our vendors and partners. the Swatch Group, which also subscriber list available to carefully screened companies that offer products and services that we believe would interest merals are among the item’s ele- However, as this is part of pend- owns such higher-end brands as our readers. If you do not want to receive these offers and/or information, please advise us at P. O . Box 6356, Harlan, IA 51593 or call 866-401-7801. WOMEN’S WEAR DAILY IS NOT RESPONSIBLE FOR THE RETURN OR LOSS O F, OR FOR ments, the suit notes. ing litigation, we don’t have any Breguet, Longines, Omega and DAMAGE OR ANY OTHER INJURY TO, UNSOLICITED MANUSCRIPTS, UNSOLICITED ART WORK (INCLUDING, BUT NOT LIMITED Swatch’s multicolor watch additional information to share.” Harry Winston. TO, DRAWINGS, PHOTOGRAPHS, AND TRANSPARENCIES), OR ANY OTHER UNSOLICITED MATERIALS. THOSE SUBMITTING — WITH CONTRIBUTIONS MANUSCRIPTS, PHOTOGRAPHS, ART WORK, OR OTHER MATERIALS FOR CONSIDERATION SHOULD NOT SEND ORIGINALS, trade dress includes a band de- Swatch described the quality UNLESS SPECIFICALLY REQUESTED TO DO SO BY WOMEN’S WEAR DAILY IN WRITING. MANUSCRIPTS, PHOTOGRAPHS, AND signed to wrap around the wear- of Target’s watches as “inferior” FROM JOELLE DIDERICH OTHER MATERIALS SUBMITTED MUST BE ACCOMPANIED BY A SELF-ADDRESSED STAMPED ENVELOPE. WWD WEDNESDAY, MARCH 12, 2014 3 WWD.COM Global Sales Growth Lifts Ferragamo Tod’s Income Hampered Boosted by tourist flows, revenues in Europe By Italy, Exchange Rates By LUISA ZARGANI gained 12.8 percent to 326.3 million euros, or $430.7 million, accounting for 26 percent of the countries. We have good per- MILAN — Salvatore Ferragamo SpA on Tuesday total. The U.S. was up 13 percent to 290.3 million By GORDON SORLINI formance in Switzerland with said double-digit growth in all markets, except euros, or $383.2 million. “Expectations remain the U.K. immediately after.” He for Japan, and gains in its core footwear and strong for the U.S.,” said Norsa. MILAN — Italian luxury goods added that France and Germany leather goods categories helped drive a 43 per- The Japanese market would have shown an maker Tod’s SpA on Tuesday were “slightly negative” and cent jump in net profits in 2013. increase of 0.7 percent at constant exchange to said net profits in 2013 de- said in Italy — which remains In the 12 months ended Dec. 31, the Florence- 116.1 million euros, or $153.2 million, but at cur- creased by 8 percent to 133.8 the group’s largest market and based luxury firm saw its bottom line climb to rent exchange, sales dropped 13.5 percent due million euros, or $176.9 million, where the economy is struggling 150 million euros, or $198 million, compared to the weak yen. Norsa underscored a devalua- affected by weakness in its larg- — “some of the positive signals with 106 million euros, or $135.7 million, in the tion of local currency “in excess of 20 percent.” est market, Italy, and by unfa- we commented on at the end of previous year. Revenues in Central and South America vorable exchange rates. last year are confirmed in the Confirming preliminary figures reported in rose 12.5 percent, accounting for 4.7 percent of Tod’s confirmed its previously very beginning of 2014, so the January, revenues rose 9 percent to 1.25 billion the total. published preliminary sales fig- performance in Italy is demon- euros, or $1.65 billion, in the year ended Dec. As of Dec. 31, the group had 360 directly op- ures for the full year: 967.5 mil- strating some sign of recovery,” 31. This compares with revenues of 1.15 billion erated stores, while the wholesale and travel lion euros, or $1.27 billion, up 0.5 with like-for-like trends “im- euros, or $1.47 billion, in 2012. retail channel included 264 third-party-operat- percent on 2012, as the group’s proving.” He said this was “very Dollar amounts are converted at average ex- ed stores, as well as a presence in major de- strategy to rationalize Italian good news,” but also pointed out change for the periods to which they refer. partment stores and high-end multibrand spe- wholesale distribution coun- that Italy is starting to be “less In a conference call with analysts, chief exec- cialty stores. tered gains in international mar- important than other markets.” utive officer Michele Norsa said luxury “outper- In 2013, the retail distribution channel post- kets and the growth of the Tod’s Pointing to what may be- formed markets with a better half followed ed a 6.6 percent growth. and Roger Vivier brands. come a broader issue in the by a more controversial economy in the Norsa pointed at “higher rentals” in The firm was also hurt by cur- months ahead for others — both second half and structural consump- China and a slowdown in the opening rency headwinds, as sales would in and outside the luxury goods tion changes in China.” of boutiques there compared with two have grown 1.7 percent in the industry — Macellari com- Norsa pointed to a “Christmas or three years ago. The company has year at constant exchange. mented on the impact of the re- season below expectations” and, more than 75 points of sale in China, The company said earnings cent Russia-Ukraine crisis: “In responding to an analyst, said said Norsa, who believes the “cov- before interest, taxes, depre- Russia, we were experiencing a “retail in some areas was erage of territory there is quite ciation and amortization, or particularly good and exciting slightly disappointing.” In well distributed.” He said EBITDA, was 236.3 million euros, market,” the cfo said. But since 2014, he said, January there are plans to open or $307.2 million, compared with the escalation of the situation, was a “good month, three or four stores in a 250.2 million euros, or $332.8 mil- “I don’t want to say that every- February not as year, seeing “opportu- lion a year ago, equal to a 24.4 thing is reduced, but what was good, followed by nities in airports” in percent margin on sales. positive before is less positive a reasonably good light of the opening of Dollar amounts are convert- than before.” March,” confident new terminals. ed at average exchange for the Responding to a request for in a “weather im- The wholesale and periods to which they refer. guidance in terms of first-half provement,” also travel retail channel Chairman and chief execu- 2014 sales, Macellari said, “For in the U.S. grew 14 percent. tive officer Diego Della Valle, sure what we saw in the first 10 In 2013, earn- Norsa said he “still” whose group controls the Tod’s, weeks of the year is not induc- ings before inter- sees China progress- ing us to be particularly optimis- est, taxes, deprecia- ing at “two speeds,” as tic on the possibility to have a tion and amortization A Salvatore Ferragamo Fiamma bag. Beijing and Shanghai are spectacular performance in the increased 14 percent to “impacted more by problems first half.” He pointed out, how- 260 million euros, or $343.2 million, compared of pollution and traffic, even more than by anti- ever, that much would depend with 228 million euros, or $292 million, in the corruption regulations, while second- and third- $1.27B on second-quarter performance, previous year, with a margin of 20.7 percent, up tier cities are still healthy and with potential to adding that the first quarter, from 19.8 percent in 2012. Chief financial officer increase.” He also cited good signs of recovery FULL-YEAR SALES AT TOD’S SPA. traditionally more focused on Ernesto Greco said a margin of 25 percent was in Taiwan and South Korea. wholesale, is weaker than the “achievable,” but, hindered by “adverse curren- By category, in 2013 footwear sales rose 7.5 second, which is more depen- cies, we need more time. We will grow, but at a percent and handbags and leather accessories Hogan, Fay and Roger Vivier la- dent on retail sales. slower speed than the last couple of years.” climbed 16.4 percent. Together, they repre- bels, said the past year’s results “We’re still missing three Referring to a potential hike in prices, the sented more than 76 percent of total sales. “In “confirm the positive path of weeks [in the first quarter] and company is “modifying quite rapidly where 2014, our focus will be stronger on handbags international growth, driven by unless something really good there is an immediate impact on the exchange than on shoes,” said Norsa. “There is more Tod’s and Roger Vivier.” happens, expectation for the rate,” as in Argentina, India or Australia, said potential in bags,” he said, pointing to special Discussing developments first quarter is really cautious,” Greco. “We will probably consider increasing dedicated campaigns, communication, also on since the beginning of the year Macellari said, adding that for prices after May with new products,” he said, the Web, and “new testimonials.” Fragrances on a conference call with ana- the first half, “it really depends underscoring the “reasonably selected price were up 13.7 percent, while apparel decreased lysts after the results were pub- on April and May when weather increases on new products rather than perma- 4.5 percent. lished, chief financial officer conditions can be better and nent ones.” Capital expenditures grew 39 percent to 82 Emilio Macellari said there were volumes can he higher than in Operating profit grew 13 percent to 219 mil- million euros, or $108.2 million, mainly driven some signs of improvement in the the first quarter….For sure, we lion euros, or $289 million. by the enlargement and refurbishment of some Italian market, which represents are not unreasonably optimistic The Asia-Pacific area was Ferragamo’s key locations, store openings, logistics enhance- about one-third of total group [about the first half], but at the main market in terms of revenue, accounting ments and digital projects. Norsa cited the new revenues. He also said the Tod’s same time we cannot say that for 37.1 percent of the total. Sales in the region openings in Chicago, San Francisco and Vienna. brand is growing faster than the the first half will be more dif- were up 11 percent and reached 466.5 million As of Dec. 31, net debt stood at 33 million group’s average. ficult than expected because JOHN AQUINO euros, or $615.7 million. The retail channel in euros, or $43.5 million, compared with 58 mil- Macellari pointed to some we’re still missing the most im- China provided a major contribution, showing lion euros, or $74.2 million, at the end of headwinds, saying that same- portant part of sales, which will

PHOTO BY 20 percent growth. December 2012. store sales in the first 10 weeks come in the second quarter.” of 2014 — at constant exchange Separately, speaking about rates — were 5.4 percent lower the group’s profitability targets, than the year-ago level, with Macellari said he could con- weekly results that “show a lot firm that an EBITDA margin in American Eagle Profits Slide 89% of volatility.” However, he said the 26 to 28 percent range was the company remained “confi- “among our goals.” He said this brands remain incredibly strong, and I’m confi- dent on the future trend.” was something the company By VICKI M. YOUNG dent in our ability to execute the strategic plan Providing further detail on could expect by being more and resume long-term profitable growth.” like-for-like sales in the Jan. 1 successful in leather goods and SHARES OF American Eagle Outfitters Inc. The company said that business conditions to March 9 period, Macellari accessories, which he said is dropped 7.8 percent to $13.10 in trading Tuesday “remain challenging, with severe winter weath- said “in China, the trend re- “something that can be done.” after the teen retailer said fourth-quarter profits er contributing to weak demand.” It said that mains negative, in particular in However, he said this goal fell 89 percent. based on a high-single-digit decline in comps, Mainland China, while the situ- would follow from implement- For the three months ended Feb. 1, net income management expects first-quarter earnings per ation in Hong Kong is much bet- ing the company’s long-term ori- was $10.5 million, or 5 cents a diluted share, from share to be about break-even versus adjusted ter, more flattish than negative, ented strategy — a strategy that $94.8 million, or 47 cents, a year ago. Total net EPS of 18 cents a year ago. The company’s guid- while in Mainland it’s negative.” needs to be financed by “growth revenues decreased 6.7 percent to $1.04 billion ance excludes possible asset impairment and Macellari said the U.S. is in the top line. We’ve explained from $1.12 billion. The company said same-store restructuring charges. “very slightly negative,” which in the past that top-line growth sales fell 7 percent in the quarter. For the full year, net income fell 64.2 percent he said was mostly due to the rate in the mid- to high-single Jay Schottenstein, interim chief executive of- to $83 million, or 43 cents a diluted share, from “terrible weather conditions of digits is what we need to stay ficer, said, “The company’s results in 2013 were $232.1 million, or $1.19, in the prior year. The that market. In a small number stable with our profitability.” highly disappointing. While tough macro condi- earlier year included a 16-cent loss from discon- of weeks, most of them influ- Reaching the 26 to 28 percent tions have persisted in our retail sector, our mer- tinued operations. Revenues slid 4.9 percent to enced by snow and cold weath- target is “not something that chandise and overall customer experience fell $3.31 billion from $3.48 billion. Gross margin fell er conditions, it’s normal that will happen in 2014” but de- short of expectations. We’re taking steps to bring to 33.7 percent of sales from 40 percent in 2012. trade can be suffering a bit.” pends on successful implemen- greater focus and excitement to our product of- Year-end inventory fell 12.3 percent to $291.5 In Europe, Macellari pointed tation of the group’s long-term fering and better engage our core customers. Our million from $332.5 million. to “mixed performance among strategy, he explained. 4 WWD WEDNESDAY, MARCH 12, 2014

The Row Valentino Burberry Prorsum

FALL 2014 TREND COLLECTIONS

Cape Abilities

Junya Watanabe Gareth Pugh Thom Browne WWD WEDNESDAY, MARCH 12, 2014 5 WWD.COM

Salvatore Alexander Akris Delpozo Ferragamo McQueen

WORKED IN AN ARRAY OF CUTS AND INTERESTING FABRICS AND PATTERNS, THE CAPE IS A DRAMATIC WAY TO WARM UP FALL.

FOR MORE IMAGES, SEE WWD.com/ fashion-news.

MAÎTRE DOMINIQUE AND GIANNONI GIOVANNI AQUINO, JOHN ANTONOV, PASHA BY Julien David Undercover Public School Saint Laurent PHOTOS 6 WWD WEDNESDAY, MARCH 12, 2014

Ina Tatyana MT Costello Soltani Los Angeles CollectionsFall 2014 The fall shows kicked off Sunday night with an opening by Los Angeles Mayor Eric Garcetti. He called the Style Fashion Week L.A. event, held through Thursday at the L.A. Live complex “a showcase for designers as diverse as the people living here today.”

Ina Soltani: Ina Soltani chose leather managed to be both sexy and sweet as her primary material this season. (think Beyoncé’s Grammy dress, While her typical sparkly evening which Costello designed). Then there gowns appeared at the end of the show, were bright red numbers that either the designer steered the collection into floated over the body or were molded a more cocktail and casual direction into hourglass shapes. with minidresses, jackets, pants and shorts. She worked in a mostly black Walter Mendez: Walter Mendez took FOR MORE REVIEWS palette, yet there were just a few biker- full advantage of sheer mesh to up AND IMAGES, SEE inspired looks; most of the lineup had the sex appeal of his body-conscious WWD.COM/ a feminine feel with ruffles, fringe and gowns, using the illusion fabric to fashion-news. touches of transparency, such as an create cutouts, plunging necklines A-line minidress with cap sleeves and and a base for beaded embellishments hemline in a sheer fabric. that appeared to float on bare skin. Soltani saved her long jersey and Particularly pretty were his gowns R. Michel’le the Label Andre Walter chiffon looks for last, accenting them that combined sheer bodices with full Soriano Mendez with leather straps and python bustiers. chiffon skirts.

Tatyana: Tatyana Khomyakova, who is R. Michel’le the Label: For her R. also the designer of the Bettie Page Michel’le the Label show, Rachael line, reworked her favorite retro Broussard worked a bright color silhouettes for the modern-day woman palette with pretty, chic sportswear using a palette of autumnal colors — pairings such as a teal pullover with a some literal leaf prints were mixed in fuchsia pencil skirt and a purple biker as well — and textured fabrics. jacket with light blue trousers. She Funnel collars, high-waisted pencil threw in a few darker hues, staying skirts, cropped jackets and crinolines true to the sporty vibe with quilted were favorite themes for day, while cropped tops and slim sweatpant-style the evening segment featured jewel- bottoms in satin and chiffon. tone frocks that accentuated the curves. The shapely, buttoned-up wool Andre Soriano: Andre Soriano named his dresses and coats would have made collection “Screen Sirens” and started Joan Harris of “Mad Men” proud. his show with a black-and-white short film starring the first model out. Further MT Costello: “Project Runway” alum hammering the theme, the soundtrack Michael Costello and his cousin featured audio excerpts from the Stephanie Costello embraced a slew Academy Awards, i.e., Jean Dujardin of fall trends in their glamorous MT saying, “And the winner is…Jennifer Costello collection: rich burgundy Lawrence.” What followed was a parade and red shades, velvet, perforated of gowns as diverse as the actresses leather and transparency. They wisely announced. Some, including the jewel- used these motifs separately, and to tone satin numbers and the long-sleeve good effect. Standouts included a sequined shapes, were classy, but others, nude perforated leather halter dress like the stretch velvet looks, were tarted and several black sequin and mesh up and not exactly red-carpet ready. geometric numbers. While this lineup lacked For the sister line, called Michael cohesiveness, there was no shortage

AMY GRAVES Costello, the designer worked a fire- on drama. For the finale look, the music and-ice theme. There were ultrafitted switched to “Ave Maria” and a model white gowns, some done in lace and appeared in a huge black ballgown,

PHOTOS BY others in intricate beading, that weeping and clutching a rosary.

H&M’s COS Set to Cover the Coasts Inside COS in Milan. North Beverly Drive in Beverly at Newmark Grubb Knight Frank, By RACHEL BROWN Hills. COS, which stands for said, “Beverly Drive has become Collection of Style, has about 80 the street in L.A. for contempo- H&M’S PLANS for COS’ arrival stores worldwide, but has yet to rary brands. The foot traffic and in the U.S. are taking shape. open stores in the U.S. cotenancy are the main reasons After the first COS store in On Beverly Drive, COS will for this change.” the U.S. premieres this spring at join an increasingly crowded row COS isn’t only coming to 129 Spring Street in New York’s of fashion retailers. Among those America via its own stores. The retailer will continue a part- nership started last year with COS has prepped its West Coast Opening Ceremony by opening pop-up stores at the design- entry by signing a lease for er retailer’s outposts in New York and Los Angeles on April 17. The COS pop-up stores at other offering of COS products pieces for our own kids!” a 13,000-square-foot unit Opening Ceremony will last exclusively in North America Marie Honda, COS’ head of until supplies run out. COS will and to creating another beauti- business, a title equivalent to in Beverly Hills. be made available on opening- ful pop-up experience in April, chief executive officer in the ceremony.us as well. this time within our Los Angeles U.S., said, “We are [pleased] SoHo neighborhood, the sleek, that have signed leases within the Carol Lim and Humberto store. We’re also very excited to to introduce our brand to Los professional sibling of H&M last two years are Alice + Olivia, Leon of Opening Ceremony said offer for the first time a selec- Angeles, initially with an edited has set its West Coast debut by Theory, Sandro, Maje, AllSaints, of the partnership, “We are look- tion of COS’ children’s wear to range at Opening Ceremony, and signing a lease for an estimated Scoop, Intermix and Iro. Jay ing forward to continuing our our customers; we may, in fact, later in the year with our own 13,000-square-foot unit at 357 Luchs, executive vice president partnership this spring with an- be the first in line to score a few store in Beverly Hills.” ’’ WWD wednesday, march 12, 2014 7 WWD.COM Industry Execs Discuss Business Environment making good use of Rack’s relationships ganic growth, namely expanding its 10 By EVAN CLARK with brands. The online business, which “power brands,” growing its presence in started as a flash sales site, now has what emerging markets, expanding its skin- AFTER A TOUGH CLOSE to 2013, retail- the cfo described as a “persistent offering” care and body-care business and leverag- ers are licking their wounds, starting to with product that’s available all the time ing its multichannel distribution. He said feel some of their old life return and — instead of for 24- or 48-hour windows. Philosophy, a skin-care brand acquired once again — talking up their future ex- in 2011, was in a “turnaround situation” pansion to Wall Street. and had delivered three consecutive “Just to recap 2013, it was a good year We haven’t stopped quarters of growth. for us and — actually it was a good 11 — With contributions from months,” said Terry J. Lundgren, chair- molly Prior, DaviD moin anD man, president and chief executive offi- our growth, we’ve sharon EDElson cer of Macy’s Inc., at the Bank of America Merrill Lynch Consumer & Retail only slowed it to make Conference Tuesday. Inclement weather Michele in January forced 244 of the company’s sure that we can get Scannavini stores to close temporarily. “January was one of the most difficult months I’ve ever had in my career, and our operating cost it had more of the negative impact on sales in the fourth quarter than any that model more in line I can remember,” Lundgren said. “It was just awful. And February started off like, with the economic Here we go again. It’s like, what’s going on here, and it’s like, did we get stupid

all of a sudden?” environment.

But Valentine’s Day brought a turn in Gareth patterSon/ap the business, freeing Lundgren and others — charLes hoLLey, at the conference to turn to the future. photo by For instance, Hudson’s Bay Co. — op- WaL-MarT sTores Inc. erator of Hudson’s Bay, Lord & Taylor

and Saks Fifth Avenue — has targeted Charles Holley, chief financial officer, Wal-Mart Michele Scannavini, ceo, Coty Inc. $10 billion in sales in five years, from the Stores Inc. Coty sees growth ahead, despite chal- current $7.2 billion. Wal-Mart’s e-commerce businesses grew lenging market conditions in Europe and The growth charge will be led by at more than 30 percent to $10 billion last North America, where a slowdown in HBC’s digital operations, off-price ex- year, and the company plans to keep fo- nail-care sales and poor weather condi- pansion, bringing Saks to Canada and the cusing on the area. “I would expect us to tions put a crimp in retail sales. “We are top 10 doors at each retail banner. The make acquisitions’’ that would help e-com- committed to come back to growth in the company sees an opportunity for up to merce add additional sales,” the cfo said. second part of the year,” said Scannavini, seven full-line Saks Fifth Avenue stores Wal-Mart gave a bearish outlook for who expects Coty to grow in line with or Dominique maître and 25 Off 5th outlets in Canada. this year when it reported a 21 percent better than the beauty market.’’

E-commerce and something of a re- drop in fourth-quarter profits. The ceo outlined four drivers of or- photo by bound in apparel were recurring themes But the retailer’s number-one prior- at the conference. Here’s a look at what ity is to drive comparable-store sales retail and beauty executives at the con- growth, the cfo said. ference are focusing on as they charge “We haven’t stopped our growth, we’ve into 2014. only slowed it to make sure that we can get our operating cost model more in line with the economic environment,” Holley said, adding that Wal-Mart will open 270 to 300 smaller units this year. January was one of the most difficult months I’ve ever had in my career, and it had more of the negative impact on sales in the fourth quarter than any that

eichner I can remember. Steve

by — Terry J. Lundgren,

photo Macy’s Inc. Terry J. Lundgren, chairman, president and chief executive officer, Macy’s Inc. Michael Koppel, cfo, executive vice president, “We’re one of the largest Internet compa- Nordstrom Inc. nies in America, and so that alone is an “We have over the last 12 to 18 months important part of our strategy, but for us seen stability and then a turnaround in it’s more the integration of how that con- the women’s apparel business,” Koppel sumer is shopping today,” Lundgren said. said. “And a lot of that was around the The ceo said Macy’s has 500 doors that fact that we recognize that we needed can fulfill Internet orders, and successful- to have a more modern, relevant offer- ly tested a program in Washington that lets ing but one that had accessible’’ price shoppers buy online and pick up in stores. points.…The one area of that segment Macy’s is also making a big push in the that continues to struggle is our young athletic business and seeing apparel pick up. women’s, our Brass Plum or junior’s “The apparel business has really not area.…I think more and more of those participated in the last few years in any customers are shopping pure online. Our significant way in terms of the overall actual online business there shows a dif- growth of our company, and we’ve had ferent trend than it does in-store, but we fairly significant growth, and so that continue to look for ways to make that in- means to us that it’s not in her closet,” store experience more relevant for that Lundgren said. “So, the customer needs customer and having the right product.” new apparel.…I definitely believe there’s Koppel also noted that HauteLook pent-up demand for apparel.” grew 30 percent last year and has been

w12a007a;10.indd 7 3/11/14 7:31 PM 03112014193221 8 WWD WEDNESDAY, MARCH 12, 2014 Men’s Wearhouse to Buy Jos. A. Bank for $1.8B {Continued from page one} and marketing practices and the stream- merged firms “will consist of the most quali- lining of “duplicative corporate func- fied individuals from both organizations.” tions,” according to Men’s Wearhouse. Under the terms of the deal, there will Absorbing Jos. A. Bank will take some The Ultimate Men’s Wear Merger be no re-branding or remodeling required time, and no significant changes are ex- at Jos. A. Bank stores, whose nameplate pected before next year, sources said. Men’s Wearhouse Jos. A. Bank will remain in place. “Jos. A. Bank has One of the first priorities will be to wean been a pretty successful profit maker,” the business off of its eye-popping pro- Wildrick said, pointing to the company’s motional cadence, one that has been as Sales $2.52 billion $1.05 billion track record of profitability, strong manu- aggressive as buy one, get seven free. facturing facilities and brand name. “We “Over time, they’ll have to figure out how can bring a lot to the transaction.” to take that needle out of their arm,” one Net Income $104.9 million $64.4 million Gilbert Harrison, chairman of observer commented. Financo Inc., an adviser to Jos. A. Bank, With the agreement, Jos. A. Bank has said when Wildrick and his team took terminated its earlier arrangement to Stores 1,124 629 over in 1999, the company had a market acquire Everest Holdings LLC, the par- value of $20 million. “Our deal today is ent company of Eddie Bauer. Jos. A. Bank $1.8 billion. There’s no question that has also withdrawn its previous tender Employees 17,500 6,342 this board and its management team offer to purchase for cash up to $300 mil- have created tremendous value for its lion of its common stock. shareholders.” Wildrick said that although he had Average square footage 5,721 4,483 Wildrick also said Jos. A. Bank has seen a real opportunity to build equity very little customer overlap with Men’s with the addition of Eddie Bauer and Wearhouse, which attracts a younger its outerwear and activewear concentra- Sales per square foot $471 $389 man with a lower income. “We’re not in tion, the value to Jos. A. Bank would have direct competition, we’re the next tier been in the future, while the $65 a share up,” he said. In addition, Jos. A. Bank’s from Men’s Wearhouse represents imme- Gross margin 45.2% 57.4% product mix, which is all private label, is diate value. more traditional than the more modern He said the $65 number represents mix of brands and private label at Men’s an 18 percent premium over what SOURCE: COMPANY REPORTS. SALES AND NET INCOME ARE FOR THE 12 MONTHS THROUGH THE END OF THE THIRD QUARTER OF 2013. GROSS Wearhouse. “They’ve coexisted for some Men’s Wearhouse had initially offered MARGIN IS FROM THIRD QUARTER OF 2013. AVERAGE SQUARE FOOTAGE AND SALES PER SQUARE FOOT DERIVED FROM 2012 ANNUAL REPORTS, time,” one source noted. at the end of last year, so the value to AND FOR MEN’S WEARHOUSE, ARE FOR MEN’S WEARHOUSE DIVISION ONLY. Over the years, Men’s Wearhouse, led the shareholders is apparent. “It’s a by its vice chairman and behind-the- real win-win,” he said, noting that Jos. luted basis. As part of the agreement, nies coming together, and we congratu- scenes dealmaker David Edwab, has A. Bank’s share price is up 56 percent Men’s Wearhouse extended the expira- late both The Men’s Wearhouse and Jos. shown a strong ability to acquire and since its interest in Men’s Wearhouse be- tion of its cash tender offer to March 19 A. Bank on the merger agreement an- integrate acquisitions. Previous deals came public last October. from today, and raised the offer to the nounced today. In addition, as a result executed by Edwab and his team include The deal, expected to close in the merger price of $65 a share from its pre- of the announced merger agreement, we JA Apparel, After Hours and Moores. third quarter of the year, received the vious level of $62.50. are withdrawing our nominees for board Shareholders can expect synergies of be- unanimous approval of both compa- The conclusion of a nearly six-month seats of Jos. A. Bank.” tween $100 million and $150 million over nies’ boards and is contingent upon the standoff between the two men’s wear On Feb. 24, Men’s Wearhouse boosted the next three years through purchasing receipt of a majority of Jos. A. Bank’s retailers, brought into the public do- its offer to $63.50 a share, or $1.78 billion, efficiencies, optimized customer service shares when calculated on a fully di- main when word of Jos. A. Bank’s inter- and said it was prepared to move to $65, est in Men’s Wearhouse made its way the ultimate selling price, if permitted to into press reports, will put an end to conduct limited due diligence. a lengthy, contentious and expensive The parties began discussions earlier battle. With the termination of Jos. A. this month and reached an agreement Bank’s agreement to buy Eddie Bauer after about 10 days of negotiations. for $825 million in cash and stock, Men’s Shares of Jos. A. Bank Tuesday were Wearhouse will be on the hook for a up 3.9 percent to $64.22, while Men’s $48 million termination fee payable to Wearhouse’s jumped 4.7 percent to $57.14. Golden Gate Capital, Eddie Bauer’s Anthony Sabino, an attorney and a owner and, early in the takeover saga, professor at St. John’s University’s Peter Jos. A. Bank’s financial partner in its J. Tobin College of Business, doesn’t ex- pursuit of Men’s Wearhouse. pect there to be any issues ultimately MADE IN britain Jos. A. Bank had publicly expressed with the Federal Trade Commission. CELEBRATING BRITISH ARTISTRY & HERITAGE—AND REACHING DECISION-MAKERS WORLDWIDE its interest in an acquisition long before “There’s plenty of competitors out there,” he said, mentioning Macy’s, Penney’s, Target, Brooks Brothers and others. In fact, he said the companies alone have spent years “cannibalizing $65 each other, so combining them will actu- ally create a more robust company and create better value for consumers.” PRICE PER SHARE MEN’S WEARHOUSE BofA Merrill Lynch and J.P. Morgan WILL PAY FOR JOS. A. BANK. Securities advised Men’s Wearhouse on financial aspects of the deal, while Goldman Sachs & Co. and Financo the drama began, but word first surfaced LLC advised Jos. A. Bank. Legal guid- that it would pursue its larger competi- ance was supplied by Willkie Farr & tor in October, when it offered $2.4 bil- Gallagher LLP for Men’s Wearhouse, lion, or about $48 a share, for Men’s and Skadden, Arps, Slate, Meagher Wearhouse in a deal to be financed in & Flom LLP and Guilfoil Petzall & part by Golden Gate. Shoemake LLC for Jos. A. Bank. On Nov. 26, just 12 days after that bid Late Tuesday, Men’s Wearhouse re- expired without so much as a conver- ported a wider loss for the fourth quarter sation between the two parties, Men’s ended Feb. 1 and a good start for the first Wearhouse offered $1.54 billion, or $55 quarter, as February comparable sales at a share, in cash for Jos. A. Bank. That the Men’s Wearhouse and Moores units offer was spurned in January, prompting were up 3 and 9 percent, respectively. Men’s Wearhouse, on Jan. 6, to raise its In the fourth quarter, the net loss offer to $57.50 a share, or $1.61 billion, grew to $30.4 million, or 64 cents a di- and take it directly to shareholders as a luted share, from a loss of $3.4 million, cash tender offer. or 7 cents, in the final quarter of 2012. Jos. A. Bank’s deal to buy Eddie Excluding a series of charges for items Bauer from Golden Gate came on Feb. including impairment, the closure of 14, raising the ire of Eminence Capital, K&G e-commerce activities and the Men’s Wearhouse’s biggest shareholder acquisition of JA Holding Inc., the ad- with a 9.9 percent stake and a 4.9 per- justed loss per share was 38 cents, well cent owner of Jos. A. Bank. Eminence beyond the 13-cent loss expected, on av- MADE IN BRITAIN said the Eddie Bauer purchase “defies erage, by analysts. IN PRINT & ONLINE: MAY 29 industrial logic” as it continued to pres- Sales also missed estimates, falling 7.9 AD CLOSE: MAY 16 sure the two sides to talk about a combi- percent to $560.6 million in the 13-week nation of their businesses. 2013 quarter from $608.4 million in its On Tuesday, Ricky Sandler, ceo of 14-week 2012 counterpart. Comps at the Eminence, applauded the deal between Men’s Wearhouse brand were off 2.5 per- For information, contact [email protected] or +33 1 44 51 07 61 the two firms. “Eminence Capital is cent, with about a quarter of the decline happy to see these two great compa- attributed to adverse weather conditions. WWD WEDNESDAY, MARCH 12, 2014 9 WWD.COM MEMO PAD Ace Metrix Unveils Top Ad Brands KATE TAKES EXPRESS: Kate Upton has been tapped as the brand “Be Ready” campaign featuring ambassador for Express, the first celebrity spokeswoman By KARYN MONGET football player DeMarcus Ware to appear in the brand’s campaigns in the past decade. To THE TOP FIVE BRANDS and mixed martial arts star kick off the liaison, Upton will host Express’ spring runway ACE METRIX’S Blackbook list IN THE BROAD PORTFOLIO* Quinton “Rampage” Jackson. show at The Raleigh hotel in Miami Beach on Thursday. of the most effective television Reebok’s success here speaks Upton’s ads for the retailer will launch in the fall. advertising brands is out, and to a key theme of celebrity — “The new partnership highlights the mutual Reebok scored the top spot. 1. Reebok but integrated into the creative admiration between Express and Kate and is the Winners are based on their in ways that are authentic to culmination of two iconic American establishments Ace Scores, which reflect the 2. Wrangler the brand. Skechers increased coming together,” said Michael Weiss, chairman and interplay between an ad’s mea- its advertising effectiveness chief executive officer of Express, the 632-unit, $2 sured “persuasion” — comprised 3. on the broad portfolio list (five billion-plus chain. of likability, information, atten- Adidas or more unique pieces of cre- This month, Express tion, change, relevance and de- ative), improving 5.3 percent Kate opened a three-level, sire — and its measured “watch- 4. Skechers from 2012 by focusing on prod- Upton 22,500-square-foot store ability” and the likelihood of uct comfort, a shift from 2012’s in New York’s Times watching the ad again. All na- 5. Nike performance theme. Square, with a billboard tionally aired ads are scored by In the narrow portfolio with a 9,000-square-foot more than 500 U.S. consumers (fewer than five unique pieces LED screen, the biggest weighted to the U.S. census for * BROAD PORTFOLIO CONSISTS OF BRANDS WITH FIVE OR MORE of creative), it was an undergar- and highest-definition age, gender and income. UNIQUE PIECES OF CREATIVE. ment showdown with Fruit of billboard in Times Square. Ace Metrix gave WWD an the Loom besting Hanes by one Upton was unavailable exclusive preview of its 2014 THE TOP FIVE BRANDS IN point to take the top spot. Under for comment. Blackbook, which chronicles the Armour — which is focused on Since launching her performance of more than 1,200 THE NARROW PORTFOLIO* product technology — was a big

EICHNER career in 2008, Upton, brands based on their portfolio mover, improving 7.1 percent a Florida native, has of TV ads for 2012 and 2013. In from 2012.

STEVE 1. quickly risen to fame. the apparel arena, the advertis- Fruit of the Loom Scores were down 2.8 percent BY Known for her numerous ing and brand specialist com- from 2012, and ad volume was

PHOTO cover appearances on bines apparel with footwear 2. Hanes down 32 percent since four of the Sports Illustrated into one segment that includes the five largest brands trimmed Swimsuit issue, the 21-year-old model and actress activewear, athleticwear, under- 3. North Face Men’s Apparel their ad volume. Wrangler was has appeared on the front page of such magazines as wear and denim. the only advertiser in the top Vogue, Cosmopolitan, French Elle, GQ and Esquire. She “The Apparel and Footwear 4. five to increase the number of will appear in the upcoming comedy film “The Other category falls within the bot- Timberland ads it introduced in 2013. It is Woman,” which also stars Cameron Diaz and Leslie Mann. tom third of Blackbook catego- also a category of concentration Express, which targets fashion-forward women ries, partially because it is so 5. Puma — the top five brands represent- ages 20 to 30, has stores throughout the U.S., Canada, highly targeted,” explained a ed almost 60 percent of the new Latin America and the Middle East. It also sells its spokeswoman. “Brands tend to creative in 2013. merchandise on its Web site, express.com. be promoting products geared * NARROW PORTFOLIO CONSISTS OF BRANDS WITH FEWER THAN Earlier this year, Ace Metrix For the past year, Upton has been the face of Sam specifically toward men or to- FIVE UNIQUE PIECES OF CREATIVE. lauded Google for the Ad of the Edelman’s ad campaigns, and she will continue in ward women, or toward run- With an average Ace Score of Year, for the tech giant’s 90-sec- that role in the fall. Upton was photographed by ners, etc. Therefore, their rele- 504, Reebok edged out Adidas and ond “Here’s to 2013” ad, an inspi- Craig McDean on a private beach in California for Sam vance and desire scores will be a Wrangler to take the top spot in the rational look at the events of 2013 Edelman’s spring 2014 ads. — LISA LOCKWOOD bit lower overall.” category. It won on the back of its through the lens of Google Search. Fall Launch in U.S. for Planet London Fashion Chamber media trenchcoats, faux-fur and “The collection fills what we By LISA LOCKWOOD faux-shearling-lined wool coats and believe to be a void in the market- Debuts for Australia textured overcoats. Colors range place for fashionable, wearable, NEW YORK — British firm Jacques from neutral shades such as black, well-priced outerwear, and we THE AUSTRALIAN Fashion Chamber has been estab- Vert Group is bringing its outerwear navy, blonde, khaki, stone and are committed to building Planet lished to further the growth of Australian fashion lo- know-how to the U.S. camel to cherry red, slate, blush London as a compelling brand to cally and globally. Jacques Vert Group will launch and metallic. satisfy this need. We feel strongly The founding members are Edwina McCann, edi- a new outerwear brand in the U.S. According to Teresa Tideman, that with Planet London, a woman tor in chief of Vogue Australia; Malcolm Carfrae, this fall called Planet London. chief executive officer of Jacques will find both her everyday essen- executive vice president, communications, Calvin Designed in the U.K., and tai- Vert Group, the collection whole- tials and more standout pieces,” Klein Inc.; Anthony Kendal, communications director, lored exclusively to the U.S. market, sales from $150 to $300. said Tideman on a visit to the U.S. MyTheresa.com; Melissa Grace, fashion communica- the line offers 20 outerwear styles The line is manufactured in All of the outerwear pieces feature tions manager, The Woolmark Co., and Kara Hurry, in multiple colorways. The collec- Asia. The idea is to take British her- distinctive trims and finishings, such marketing, Sydney-based OrotonGroup (Gap and tion includes quilted jackets, puffer itage shapes and modernize them as gold hardware and zippers, leath- Brooks Brothers.). coats, faux-fur trim parkas, mixed- for the U.S. market. er piping and statement buttons. The “The AFC is a welcome addition to Australia’s fash- sizes run from XS to XL or 0 to 14. ion landscape that will help foster young talent and cre- Outerwear from “Women want versatility,” said ate sustainable, unique Planet London. Tideman. The coats are named and inspiring businesses for squares in London, such as the of which we will all be Sloane, which is a short diamond- proud,” said McCann, who quilted jacket with gold-tone hard- will also serve as chair- ware in navy, black, slate, red and IMAGES man of the AFC. stone, or the Cavendish, which is a The AFC will spon- two-button long overcoat in cherry sor training conferences red, navy, black and camel. The line and mentoring programs

is priced at the opening range of METCALFE/GETTY and will support multiple designer. Fabrics include wool and design awards. It plans cashmere blends and nylon/polyes- MARK Edwina to introduce the AFC ter, with 60/40 down and feathers. BY McCann Awards, presented by Tideman declined to give first- AMP Capital Centres at year projections. She said the com- PHOTO the end of 2014. It will be pany will offer two lines a year. So an annual award for established designers to support far, Lord & Taylor has purchased the globalization of Australian talent. the line for fall, and the company is AFC will be encompass designers, retailers and targeting such stores as Nordstrom, creative directors for hair, makeup, photography, art Saks Fifth Avenue, Neiman Marcus and graphics. and Bloomingdale’s. The company Toni & Guy is the first partner to commit and is currently scouting showroom support the AFC across all initiatives. AFC will space in New York. also work alongside IMG Fashion, Virgin Australia Jacques Vert, which is owned by Melbourne Fashion Festival and the Textile Fashion Sun Capital Partners, has such la- Institute of Australia. bels as Jacques Vert, Planet, Kaliko, On April 10, during Mercedes-Benz Fashion Week Precis Petite, Minuet Petite, Eastex, Australia, the AFC will introduce its board of execu- AQUINO Windsmoor and Dash. Jacques Vert tive and non-executive directors and will provide Group is the U.K.’s largest women’s insight into planned activities. It will also provide a JOHN

BY wear concession retailer, with more forum for the industry to give feedback on how the than 1,900 retail outlets in the U.K., AFC can best support designers in achieving their — L.L. PHOTOS Europe and Canada. business objectives. 10 WWD WEDNESDAY, MARCH 12, 2014 Matt Levine and Joe Isidori Lords of Local “THE WHOLE farm-to-table movement and the kale martini, which is exactly is a 101 in my opinion. If you’re a chef, what it sounds like: a boozy green juice. you should be using local products,” chef “We spice it up with some Absolut Joe Isidori says, arms crossed over his Orient Apple, kale, celery,” he says. apron on a recent Tuesday morning. He’s “Juice pressing is so important so the perched on a stool in the open kitchen of ingredients are as fresh as possible.” Chalk Point Kitchen, the new eatery in Isidori is a Michelin-star chef and Manhattan’s SoHo neighborhood for which has worked alongside Jean-Georges he will serve as executive chef when it Vongerichten, Rich Moonen and Michael opens its doors later this month. “ Yo u Schwartz. He’s a third-generation cook source locally. That’s just what you do.” — his grandfather owned the Villanova, JENNA GREENE Though “farm-to-table” seems to a Times Square restaurant open from be the gastronomic buzzword of recent 1963 to 1975, and his father grew up memory (along with “craft,” “artisanal” cooking in its kitchen. PHOTOS BY and other maddeningly ambiguous “I’m a New York City kid,” he says. room, which is dressed like a quaint at an antique fair in Pennsylvania. “I terms), Chalk Point Kitchen is the real “Growing up, I learned to run around Vermont farmhouse though not without had to negotiate with this sweet old lady deal. Locally sourced product is the ethos the boroughs and buy the products of that distinctive air of downtown cool. named Mabel for that one,” he laughs. “I of the new spot, which is taking up the those neighborhoods, whether it was Levine collaborated on the interiors with love that each piece has a story.” former Dalloway space on Broome Street going to Brighton Beach for knishes or Chien Dao, who’s also outfitted The Lion, Toward the back is the open kitchen and will be helmed by restaurateur Matt Chinatown for wontons or Japantown for The Crown and the MoMA Curator Loft. where Isidori, Schoen-Kiewert (previously Levine. “We’re dedicated to everything yakitori. And I bring that perspective to Up front, glaring grow-lights shine of Blue Hill) and Spencer (previously of local,” Levine adds. By “we,” he means the menu. So we work with the farmers down on a trail of flower beds snaking Sons of Essex) work under a ceiling covered not only Isidori and himself but also chef who come to the farmer’s markets from around under a wall of antique windows in overlain Basquiat prints. “Basquiat de cuisine Frederick Schoen-Kiewert, upstate and the East End of Long Island from a barn in Cape May, N.J. “The grow- lived in SoHo and was such a foodie, so I sous-chef Sean Spencer and mixologist lights will just be on during thought this was cool,” Levine explains. William Bastian, all ardent the day and when we Downstairs is unfinished but will locavores. “We want to take close up at night,” Levine house a piano bar sure to draw the advantage of what New says of maintaining the in-crowd. “The only music we’ll have York has to offer.” greenery — a mix of potted down here is funk, soul, jazz,” he says, This means virtually succulents, ferns and now down in the roomy cellar, which every ingredient is sourced snake plants. Soon thyme, is in full-on construction mode with a in New York. The pearl rosemary and basil will dust-coated baby grand stationed in the oysters they serve — topped be planted for use in the corner. But considering how speedy the with toasted curry oil, kitchen and behind the bar. upstairs renovation was — Levine hired salmon caviar, chervil A coffee-colored construction group Platform International, and served atop a swirl of leather banquette wraps the team behind building out the Frieze wakame — were caught off around the room with and Scope art fairs — the bar should be the shores of Montauk. They the tabletops clustered ready imminently. “It’s cool down here, get their daikons — braised at the center. The tables right?” he asks. in a fermented black bean are wooden with a slightly For the moment, the cool kids will sauce and served with Thai weathered, aged patina have to reside upstairs starting tonight basil — from Satur Farms Inside Chalk and are topped with when W magazine’s Stefano Tonchi on Long Island. Point Kitchen. tattered recipe books will cohost an after party for the “Only Even the drinks are from the Fifties that Lovers Left Alive” screening along with farm fresh. Cocktail offerings, crafted Levine procured at flea the film’s director, Jim Jarmusch, and by Bastian, are an amalgam of freshly to get sustainable, organic produce, markets upstate. “The checks will be Tilda Swinton. “We have a few other squeezed juices and a meld of bitters, but we incorporate that with the ethnic tucked in those,” he says. Other tabletop parties coming up,” Levine alludes with garnishes and succulents. “All the markets of New York City. It’s fresh accoutrement: sunflowers, gingham a knowing grin. “A few things for the cocktails were designed to complement produce from the farms and then napkins tied up with bits of string and fashion folk.” — TAYLOR HARRIS the menu so the notes in the cocktail shopping down here on Mott Street and antique china once used at the Villanova. round out the meal,” Bastian explains. combining it into one dish.” The dining room is dotted with other Chalk Point Kitchen He’s eager for diners to try the wasabi The decor is also a carefully calibrated vintage knickknacks — mirrors, black- 527 Broome Street margarita (“We muddle fresh wasabi in. balance of city and country. Guests ascend and-white photos and, toward the front, an 212-390-0327 It’s got some serious kick to it,” he says) a wrought iron staircase into the dining oversize weather vane that Levine found Monday to Sunday, 5:00 p.m. to midnight.

up with the next billion-dollar and still don’t really know how humiliating scene at the hands Martin Starr, Jonah Hill Thomas Middleditch idea, and all around them in Austin to enjoy themselves. They’re still of ’s boorish thug. “[When and T.J. Miller their real-life doppelgängers socially awkward, still awkward you] get in at the airport and you pursued similar goals. around women,” he said. look up, there’s this big ‘Silicon “I keep hearing things that Thomas Middleditch, whose Valley’ poster, and my ugly mug sound like lines from the show. central character turns down is up there. That’s pretty cool,” It feels like being on set,” said millions to start his own company, Middleditch confessed. costar Zach Woods. already had the geek look down. It wouldn’t be South by Judge, a former engineer “I work hard to try and delineate Southwest without plenty of himself who’s best known as [between myself and the role], shameless self-promotion, and the creator of “Beavis and Butt- but sadly I came in there with there are few practitioners of that Head” and “King of the Hill,” kind of similar clothes,” he said. fine art as experienced as xoJane said during a panel he was The actor is already enjoying the editor in chief Jane Pratt, who was fascinated by the social lives of perks of being on a buzzy show. also hosting a party Monday night, innovative visionaries. He doesn’t have a lot of major hers at the North Door to toast “I remember reading a Rolling parts to his name — in “The Wolf the 25 Most Shameless People Stone article about Paul Allen, of Wall Street,” he is credited on the Web. Among them, though Nerd Alert and it occurred to me that these as “Broker in a Bowtie” and not in attendance: Courtney Love, tech guys get billions of dollars his character is subjected to a Ronan Farrow and Lena Dunham. “To me, saying that someone “WE’RE GOING TO TROLL another one of the scene’s is shameless is one of the around a little bit for material.” annual bloated congregations, greatest compliments you can Mike Judge is the creator of the and there’s scarcely a better give because I feel like there’s new HBO series “Silicon Valley,” place to observe the nerds in way too much shame out there, and on Monday afternoon he was their natural habitat. The series so let’s just all be what we are,” at its premiere in Austin, Tex., at promises to do for the Valley Pratt explained. the South by Southwest Festival. what HBO’s “Veep” has done “It’s an honor I think,” said The show revolves around the for Washington, D.C. Mandy Stadtmiller, an editor at the start-up world in California and “I’ve talked to so many site, who also made the list. for research, Judge and his writers people that have an app they’re Pratt’s site is infamous for spent some time in the wild. pitching,” said Kumail Nanjiani, one encouraging its writers, and “We went to TechCrunch, of the stars of the show. “It’s kind readers, to overshare, and and we spent a lot of time in of cool because we did this show so she felt at home in Austin incubators and going to Google and now to be immersed in it, among the festival’s throngs. and stuff like that,” he said. I’m like, ‘Oh, I think these guys “Something about this TechCrunch is a site that covers really nailed it.’ It really feels Amanda Crew environment makes people FINKELSTEIN/GETTY DUSTIN IMAGES FOR SXSW the tech scene that also has its like the exact world we portray.” Mike at the “Silicon want to talk, so it’s like an own annual conference. Nanjiani plays one of six Judge Valley” premiere. ongoing focus group,” she said. — JENNY SUNDEL South by Southwest is programmers all striving to come PHOTOS BY WWD WEDNESDAY, MARCH 12, 2014 11 WWD.COM

categories will additionally be featured in had been “tough at times,” he said he’s the September issue of InStyle. determined to push the boundaries in Monica Botkier will receive this his career. “Life’s about going out of your Fashion scoops season’s Iconoclast Award, which honors comfort zone and doing things that you established names in the industry. Past don’t think you can quite do,” mused recipients have included Carlos Falchi, Siem. “That’s how you reveal more and RENT BEFORE THEY BUY: Troubled Italian current exchange. The restoration of Judith Leiber and Lulu guinness. “Handbags how you evolve as a human being.” fashion manufacturer Ittierre SpA has the shopping arcade is expected to be mark moments in a woman’s life and in The musician and model, who is the a new suitor. Months after the firm completed by April 2015, just in time our culture’s history as a whole,” said face of Giorgio Armani’s Eau de Nuit turned to the Court of Isernia for aid in for Expo 2015, opening in Milan on Botkier. “To be recognized and celebrated fragrance and has appeared in karl Lagerfeld avoiding bankruptcy, Gruppo Colella, May 1 next year. — aLEssaNDRa TURRa by the fellow bag-obsessed talents out and Carine Roitfeld’s tome “The Little Black the firm behind mineral water labels there is something I am so proud of.” Jacket: Chanel’s Classic Revisited,” will Castellina and Santa Croce, stepped BELgiaN BaggagE: Belgian handbag and Independent Handbag Designer have his composition for CBS Watch forth this week with a proposal to rent accessories brand Kipling has called Awards founder Emily Blumenthal also used as part of the bimonthly lifestyle part of Ittierre and acquire it at a later upon one of it’s own — Natalie Joos — plans to take the platform beyond the magazine’s digital promotional campaigns date. The offer comes on the heels of a for a new luggage collection. “Belgians awards. Blumenthal recently began across the publication’s social media and separate proposal by investment group have a special place in their hearts work on a new reality TV program video channels. — LORELEi MaRFiL IKF Holding. and homes for Kipling,” said Joos. “As seeking out the brightest up-and- Gruppo Colella, run by kids, we all had a Kipling bag or some coming handbag designers. The show THE WRiTE sTUFF: Decades after Vincent van entrepreneur Camillo Colella, other accessory and the is currently in preproduction, with Gogh, Pablo Picasso, Ernest Hemingway, is interested in diversifying For more little monkey was a huge producers seeking contestants with Bruce Chatwin and others used Moleskine its portfolio by constructing scoops, see hit. And apparently the “personalities that match their equally notebooks to keep track of their ideas, a fashion center with both Kipling trend is still very brilliant designs for an unprecedented the company has introduced a collection industrial and commercial WWD.com. real. Kids in school are still and groundbreaking fashion of accessories. With retail prices in the wings, and also in acquiring begging their parents to buy competition program.” $40 to $275 range, the selection includes an Italian fashion brand to them a book bag.” “I have been working on this for some five wallets, a tote, backpacks, messenger develop, which various Italian reports The capsule collection, due time,” said Blumenthal. “We have an bag and reporter bag. Each has a variety from the Molise region suggested out in June, will feature four styles incredible partner and are looking for of compartments, loops, concealable could be Gianfranco Ferré. designed for summer travel: a large some wild handbag designers as part of our straps and pockets to help time-pressed Following Colella’s offer, an trolley, a carry-on, a beach bag and brand expansion.” — LaUREN MCCaRTHY users find their belongings. Every style of assembly of unions was canceled a toiletries bag. “I wanted to keep the carryalls on Tuesday so that members could it clean, classic and simple, but not His OWN TUNE: The also has a reconvene and discuss the best options boring,” said Joos. “I didn’t want to young British violinist collapsible for Ittierre’s displaced workers. design anything trendy or flashy. It had Charlie siem took to shopping — CYNTHia MaRTENs to be minimal and fresh and the idea the stage at London’s bag for users came to me quite fast and easy.” Mandarin Oriental to carry any HOLLisTER TO sELL sEaVEEs: In a For Joos, color was also particularly Hyde Park Thursday keepsakes they merchandising effort to be more important when it came to the design night to play the piece pick up during relevant to teens, Hollister will process. “Designwise I chose for of music that he had the day. feature an exclusive male footwear colorblocking in my favorite colors,” composed for CBS Watch Available line from SeaVees featuring signature she said of the purple, orange and red magazine, following the through the Hollister colors on twill lace-up and hues. “I created a new color blue that announcement of the company’s slip-on sneakers. will hopefully persist in future Kipling music and publishing online store and The exclusive line, which will be productions.” collaboration late its freestanding available only at hollisterco.com, is last year. Dressed in units in New the latest effort to move the businesses a bespoke Meyer & York’s Time toward a wholesale model. Mortimer suit, Siem played the Warner Center, steven Tiller, chief executive officer composition, called “Canopy,” along with an item from Moleskine’s its SoHo and chief designer for SeaVees, said, pieces from his forthcoming album “Under first accessories collection. location and “The designs celebrate the midcentury the Stars,” which will be released in a New Jersey California dream that inspires both September under the Sony Classical label. location in the Short Hills Mall, the Hollister and SeaVees.” While Siem acknowledged that the accessories have Moleskine notebook — ViCki M. YOUNg recent intense work of recording the features such as an elastic band and album and composing the new piece minimalist design. — ROsEMaRY FEiTELBERg sTUDYiNg WiTH saks: Saks Fifth Avenue has returned to Britain this year with projects involving Central Saint Martins and London College of Fashion, part of the store’s annual University Relations program. For Central Saint Martins, Saks has created a three-month customized internship that sees select students For more career opportunities log on to WWDCareers.com. experience day-to-day life in the buying, marketing and fashion offices, as well as in the New York flagship. The three-month program runs through April. Spaces For the second year running, Saks will partner with the London College of Fashion for its annual student COMMERCIAL footwear design competition. In the REAL ESTATE Lets Play House Salesman Needed spring, each student enrolled in the kipling luggage designed by Natalie Joos. Innovative Home Decor Line China Mill looking for professional Cordwainers Footwear B.A. program Established & Growing seller of mens & women’s finished looking for strategic investor/ partner shirts & blouses (in NYC Showroom) at the college will have the chance to Details include white zippers, a lets-play-house.com Must have contacts with retailers, contact (631) 751-3519 wholesalers, and specialty accounts submit original designs to a judging palm tree print lining and a miniature Please send your resume and panel, and the winner will be offered white monkey wearing red lipstick — 33rd-57th St West-All Sizes monetary requirements a paid, 16-week internship at the “my signature,” Joos explained. Menswear Showrooms Please email to [email protected] D. Levy Adams & Co. 212-679-5500 store. The winner will be selected on — LaUREN MCCaRTHY June 22, and start work in January in Showrooms & Lofts SALES REP the buying and design offices at Saks’ HaNDBag HYPE: The Independent BWAY 7TH AVE SIDE STREETS Need experienced independent Great ’New’ Office Space Avail salespersons to sell to Hunting, private footwear collection. Handbag Designer Awards is gearing ADAMS & CO. 212-679-5500 Fishing,Tactical and Uniform retailers & wholesalers. We are a — saMaNTHa CONTi up for its eighth year with a new MANUFACTURER REPS WANTED large import company. sponsor, Guess, and a brand new Current reps make $100k+. Our fashi- Pls email on earbuds, iPhone cases sell in 5000+ [email protected] WORk BEgiNs: After unveiling the endeavor: reality T V. The application stores. If you sell to fashion accessory project in December, restoration works period for the awards ends on April buyers, email: [email protected]. on Milan’s storied Galleria Vittorio 27, with winners named at an awards Cad Designer /Photo Shop Emanuele II kicked off Monday. ceremony held at the SVA Theater Illustrator (Part/Full time) New York base Women’s Apparel Overseen by architects Daniela Fiocchi in Manhattan on June 18. The seven Company seeking talented & and Roberto Baciocchi, the activities categories up for grabs are Best experienced candidate in Bookkeeper/Operations Mgr seeks P/T Junior/Missy/Plus sportswear with for the cleaning and conservation of Handbag in Overall Style & Design, work. Expert in Quick Books, good sense of color coordination. the prestigious shopping arcade will Opitex Best Student Made Handbag, collections, A/R & A/P, bank recs. Reference Required. call (732)651-1834 Email Resume to be financed by Versace, Prada and Bernina Best Handmade Handbag, [email protected] Lion Button is looking for a sales Feltrinelli. Incidentally, Baciocchi has Timberland Best Green Handbag, Feed professional in the LA area w/ 5+years PATTERNS, SAMPLES, of experience. National Sales Manager worked on the design of several Prada Most Socially Responsible Handbag, PRODUCTIONS will be in LA from 3/17- 3/21. Full service shop to the trade. stores around the world. Audience Fan Favorite Handbag, Fine fast work. 212-869-2699 E-mail: [email protected] Versace, which is set to open a and this season’s new category, 212 391 6396 2,775-square-foot flagship in the Distinctively Denim by Guess. Galleria by this summer, will cover 50 Prizes vary from a top-of-the- percent of the Galleria’s restoration line sewing machine to in-store and (800) 423-3314, or email [email protected] costs, which are expected to total online displays from sponsoring 3 million euros, or $4.1 million at brands. Winners in each of the seven

w12a011a.indd 11 3/11/14 8:16 PM 03112014201714 12 WWD WEDNESDAY, MARCH 12, 2014 WWD.COM Hoffman to Exit Bon-Ton Sequential Taps {Continued from page one} Q Localizing assortments Spencer as CMO Elder-Beerman, Herberger’s and and personalizing e-mails Younkers nameplates. to customers based on their On Tuesday, right after purchases. Hoffman revealed his plans to In other advances, By VICKI M. YOUNG depart, Bon-Ton reported disap- a fulfillment center in pointing results, citing the impact Columbus, Ohio, to expand SEQUENTIAL Brands Group Inc. has hired brand of bad weather since mid-Decem- shipping capacity for on- strategist Jameel Spencer as chief marketing officer, ber across the whole chain. Net in- line orders is scheduled to a new position. come for the fourth quarter ended open in spring 2015; RFID Spencer will report to Sequential chief executive Feb. 1 declined 17.6 percent to technology will be ex- officer Yehuda Shmidman. $61.3 million from $74.4 million in panded, following a test in Prior to joining Sequential, Spencer was cmo at the year-ago period. Comparable- footwear last fall, and traf- Iconix Brand Group, and oversaw the marketing for store sales decreased 7.3 percent fic counters were recently brands such as Ed Hardy, Ecko, Umbro, Rocawear and total sales dropped 9.9 per- installed in many of the and Roc Nation. cent to $914.9 million, from $1.02 stores. Hoffman’s departure In his new role at billion the year before. raises speculation about the Sequential, Spencer For the year, the company lost difficult search for a suc- will develop and lead $3.56 million, compared to a loss ’’ cessor and where he might global marketing initia- of $21.6 million a year ago. Net find his next job. He’s con- tives for the firm’s port- sales dropped to $2.77 billion from sidered a young star in the folio of brands that in- $2.92 billion. Comparable-store industry, with experience clude William Rast, DVS, sales decreased 4.2 percent. in department stores and Caribbean Joe, Ellen Tracy “Multiple snowstorms and the the Internet. Before join- and Revo, among others. polar vortex during the December ing Bon-Ton, Hoffman ran Sequential’s portfolio and January periods resulted in a Lord & Taylor and, earlier, of eight brands so far have sharp decline in traffic and, there- Neiman Marcus Direct. a global retail volume of JIMI CELESTE/PATRICKMCMULLAN.COM fore, we were unable to achieve Currently, there are $1 billion, according to our comparable-store sales goals some high-profile re- Shmidman. in the fourth quarter,” Hoffman PHOTO BY tail vacancies, including “We have over 50 licens- said. “In spite of these top-line Abercrombie & Fitch Co., ees. The missing link to the pressures, we were able to achieve which is seeking presidents management team we have a gross margin rate slightly better I am very focused on for its A&F and Hollister divi- here was the cmo position, than the prior year and reduce ex- sions, while American Eagle which Jameel has filled,” penses. In addition, we effectively Outfitters Inc., J.C. Penney the ceo said. He explained

managed our inventory such that the business and what Co. Inc. and BCBG Max Azria that while each brand has GROUP INC. OF SEQUENTIAL BRANDS BRIAN ACH/COURTESY we ended the year with inventory Group are all seeking ceo’s. to have its own identity, the Jameel Spencer levels approximately 5 percent we need to accomplish. While Hoffman will be con- marketing and branding below that of the prior year, includ- tacted by headhunters and re- synergies and the strate- PHOTO BY ing a significant reduction in carry- Because we are a public tail search committees, if he gies to push social and digital media will be part of over merchandise, leaving us well hasn’t already, he said he will what Spencer will oversee. One of the big campaigns positioned for the spring season. stay at Bon-Ton until his con- on the agenda is Ellen Tracy’s 65th anniversary celeb- “We’re not sitting back here company, this needed to tract expires. A reluctance to rity campaign set for the fall, as well as the continued and saying it was all weather,” commute again or relocate his expansion of the William Rast brand in Europe, also which hurt the business, he said. be disclosed when it did. family, and the non-compete in the fall.

“We are being very proactive.” clause in his Bon-Ton con- Spencer will continue to work with longtime cli- Hoffman cited several initia- — BRENDAN HOFFMAN tract, also limits the possibil- ents Shawn Carter Enterprises and Sean “Diddy” tives going forward, among them: ity of landing a new job soon. Combs under his own agency Brand Matter, a Q Continuing to balance “depth versus breadth” so Hoffman did live in Dallas, where Penney’s is based, when Sequential subsidiary that’s under license to Spencer. the company has less breadth of styles and focuses on he worked at Neiman’s. His non-compete clause stipulates Spencer said he was attracted to the position bestsellers. that for one year following the end of Bon-Ton employ- because of the “opportunity to be involved [with

Q Pumping up private label, plus sizes, activewear and ment, he is prohibited from engaging in or being finan- Sequential] from the early stages.” active clothes worn casually. cially interested in any competitor, other than the passive The cmo added that because he is familiar with the Q Furthering e-commerce, which outpaces the overall ownership of less than 2 percent of any class of securities. business model, that also “made Sequential attractive business; online accounts for 5 percent of sales. Aside from the brutal weather, fluctuating gas pric- to me. I know what needs to be done. I come from this Q Furthering the fledgling clearance center strat- es and consumer sentiment also impacted business at world of owning intellectual property and working on egy with a third unit opening soon. times ’’during last year. multiple brands.” Susan Sokol’s Next’’ Step: Consulting

deal with Kellwood Co. for their first to our apparel,” said Edelman. By LISA LOCKWOOD foray into apparel, “we thought it Mara Hoffman, who owns her own would be great to have someone with contemporary apparel firm, said, NEW YORK — Susan Sokol has Susan’s knowledge and expertise.” “Susan came in with a holistic ap- opened her own consultancy, Susan His wife, Libby, worked with Sokol proach and looked at all parts of the Sokol Consultancy LLC. at Calvin Klein “and Libby would tell company, what our strengths were Sokol has worked at major com- me all about Susan and how great she and our weaknesses. She gave great panies such as Calvin Klein Inc., was. She became a hero to us and we feedback in examining our whole- Donna Karan International, Michael followed her career,” said Edelman, sale business. Kors, Vera Wang and J.Mendel in who, along with Libby, ran into Sokol “It was awesome to have some- senior executive positions. “I’m tak- one with her expertise and to have a ing my 40 years of experience and sounding board to talk things through working with iconic and well-known with someone who [is outside the American luxury brands and bringing I’m taking my 40 company] and has a different kind of that knowledge to my clients. For me, perspective, without judgment. She it’s the next chapter of my career,” years of experience… helped me through tough situations said Sokol. by giving a new perspective to them,” Her business will focus on key and bringing that said Hoffman. She said Sokol helped areas such as line planning and with selecting the new digital media product merchandising, wholesale agency and the transition of public re- business direction, retail manage- knowledge to lations. “She also made the introduc- ment and pricing strategy, supply tion for a great collaboration that’s chain management and business and my clients. coming up in June,” said Hoffman. growth opportunities. Narciso Rodriguez recently hired Since leaving J.Mendel last year — SUSAN SOKOL Sokol as a consultant. as president and chief operating of- “We’ve been experiencing so many ficer, Sokol has consulted for such a year ago at Barneys New York, and changes here and so much growth. firms as Mara Hoffman; Lemlem; thought they could all work together. We wanted to bring someone in like Hellessy, a day-to-eveningwear firm “Our shoes have a very special Susan to explore new opportunities. founded by Sylvie Millstein, and integrity about them, from the croco- She’s very seasoned and very knowl- Mackage, a designer outerwear dile in-soles to the power of the logo edgeable. I launched accessories two firm. Two of her new clients are Sam and the fact that we’re so trend-on. years ago, and the collection contin- Edelman and Narciso Rodriguez. What we saw with Susan was some- ues to grow. I value her opinion so Susan Sokol Edelman said when he made the one who could interpret’’ that integrity much,” said Rodriguez.