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WWD Ad-Edit Template.Indt WWD $'9(57,6(0(17 MONDAY, SEPTEMBER 9, 2013 WOMEN’S WEAR DAILY $3.00 NEW YORK FASHION WEEK S/S14 MACCOSMETICS.TUMBLR.COM OFFICIAL MAKEUP SPONSOR LONDON FASHION WEEK S/S14 MACCOSMETICS.TUMBLR.COM NEXT UP A LOOK AT SOME OF THE The Countess: NAMES TO WATCH — AND THINGS TO DO — DURING Enough to LONDON FASHION WEEK. REINVENTION MODE Say Dior PAGES 22 AND 24 COACH UNVEILS A NEW LOGO AND NEW PACKAGING AS PART OF ITS REVAMP. PAGE 8 PAGE 21 NYC MAYORS RACE Candidates’ Plans WWD To Boost Fashion MONDAY, SEPTEMBER 9, 2013 Q WOMEN’S WEAR DAILY Q $3.00 By ROSEMARY FEITELBERG WHAT WILL they do for me? That’s the question on the mind of the $55 billion String fashion industry as New Yorkers head to the polls for Tuesday’s mayoral primary to pick the candidates for the race to succeed Mayor Michael Bloomberg. During his three-term reign, Bloomberg has been a familiar face with the fashion crowd, cutting the Fever ribbon for New York Fashion Week, making cam- eos at red-carpet industry events and most notably Just days after joining Kering’s launching Fashion.NYC.2020 to sustain and further grow New York’s fashion industry. That 10-year plan luxury portfolio, Joseph Altuzarra has established a manufacturing incentive, as well as showed a breathtaking collection. Fashion Draft NYC and Design Entrepreneurs NYC, both of which are geared to cultivating the next gen- He played on draping, men’s wear eration of talent. and Japanese Boro for clothes While none of the 11 candidates —seven Democrat, that dripped with chic. Here, three Republican and one independent — have exactly canvassed the Garment Center hustling for votes, they artful strings dangle from his sexy would be remiss to not acknowledge its fiscal force. As foldover skirt paired one of New York City’s leading industries, the fashion with a simple shirt. sector employs 173,000 people, accounting for nearly 6 percent of the city’s workforce. It also generates nearly For more from $10 billion in annual wages with tax revenues of $2 bil- the New York SPRING 2014 lion. On top of that, more than 500,000 visitors come collections, see SEE PAGE 28 pages 12 to 21. NEW YORK COLLECTIONS Neiman’s IPO Now Less Likely Than Sale By VICKI M. YOUNG TPG AND WARBURG PINCUS’ talks to sell Neiman Marcus Group to a financial consortium are said to be heating up, making an initial public offering of the luxury retailer less likely. Sources said over the weekend that sale talks are in the later stages, and that the situation is fluid. That means that negotiations could still break up, or get wrapped up fairly quickly provided certain matters still at issue become resolved sooner than expected. The transaction, if an agreement is reached, is be- lieved to be for more than $6 billion. The two private equity firms were said to be seeking more than $7.1 billion in April when word first surfaced that they were pursuing a dual track to explore options for the specialty retailer. The dual track, a sale of the company or an IPO, is the typical strategy these days for financial sponsors looking to exit their investment. TPG and Warburg Pincus bought Neiman’s in 2005 for $5.1 billion in a cash-and-debt deal. Leonard Green & Partners subsequently acquired a stake in the company. Spokesmen for TPG and Warburg Pincus de- clined comment. The Wall Street Journal on Sunday reported that the two financial buyers in discussions to acquire Neiman’s are Ares Management and the Canada Pension Plan Investment Board. Ares Management has experience investing in the fashion industry. It is a one-time owner of PHOTO BY GIOVANNI GIANNONI SEE PAGE 21 6 WWD MONDAY, SEPTEMBER 9, 2013 WWD.COM WWD CEO Summit Features ‘Transformers’ THE BRIEFING BOX and chief commercial officer of There will also be a panel of By DAVID MOIN Coach, who steps into the ceo role experts on global labor prac- IN TODAY’S WWD in January. tices discussing the Bangladesh IN AN INDUSTRY filled with Another thought leader from tragedies and work conditions turbulence, rapid change and social media who will be spot- worldwide, including outspoken constant challenges, business lighted is Emily White, director Congressman George Miller (D., Lily Kwong in Altuzarra leaders and creative talents of operations at Instagram, which Calif.); Rick Helfenbein, presi- with Chelsea Leyland come and go as quickly as reality has become the darling of the vi- dent, Luen Thai USA; Charles at the Prabal Gurung shows. Yet for the upcoming 17th sually oriented fashion world. Kernaghan, executive director, after party. For more, annual WWD CEO Summit, some From outside the industry, Institute for Global Labour and see WWD.com. of fashion and retailing’s most New England Patriots owner Human Rights, and Richard accomplished — and promising Robert Kraft will discuss leader- M. Locke, Howard Swearer — executives will meet for two ship and strategic issues and how Director at the Thomas J. Watson days of presentations, conversa- he changed the culture of profes- Jr. Institute for International tions and panel discussions. sional sports in New England by Studies and professor of politi- Themed “The Transformers,” the summit will be held Oct. 28 and 29 at The Pierre in Manhattan. A group of 300 chief executive officers, presidents and company principals will ex- change ideas, share best prac- JENNA GREENE PHOTO BY tices, forecast the future and net- work with their peers. Among the headliners are two media powerhouses: Anna A rundown of what the candidates for New York City mayor Wintour, artistic director of Condé had to say about what they would do to stimulate the city’s Nast and editor in chief of Vogue, fashion and retail industries. Page 1 and Leslie Moonves, president and ceo of CBS Corp. In a conver- Neiman Marcus is said to be close to finalizing a deal on the sation, Wintour and Moonves will sale of the company, believed to be for over $6 billion. Page 1 explore the way the media world is changing, for good or ill, as the Coach has begun its transformation into a lifestyle player consumer has more information, with its new logo, packaging, store concept, ad campaign more sensation and more choice and collections. Page 8 than ever before. Others tackling the hot is- Sophia Webster sues of the moment — driving has collaborated with J. Crew on a digital sales, differentiating from Themed “The capsule collection that will make its debut Tuesday. Page 8 the pack, and the social media obsession — include Terry J. Macy’s will significantly expand its activewear offerings for Lundgren, chairman, president Transformers,” women over the next year. Page 10 and ceo of Macy’s Inc. Lundgren has transformed what was once the summit Topshop is moving its fashion show space in London to a a lumbering retail dinosaur into new specially created space in Regents Park. Page 10 an industry giant that continues to grab market share. will be held Allison Williams took in Prabal Gurung’s runway show Designers being spotlighted Saturday afternoon at Moynihan Station. Page 20 include Michael Kors, princi- Oct. 28-29 at pal designer and cochairman of Countess Louise J. Esterhazy looks back at time she Michael Kors Holdings Ltd., one The Pierre in spent with Christian Dior. Page 21 of the most successful initial pub- lic offerings in fashion history, A preview of London Fashion Week, with designers to and Alexander Wang, creative Manhattan. watch and the latest hot spots. Pages 22 and 24 director for Alexander Wang and Balenciaga, who will discuss how The DFS Group has a new brand identity for its downtown he manages to simultaneously locations — T Galleria by DFS. Page 26 tackle two high-profile labels with different DNAs. Myron “Mike” Ullman 3rd Among the noteworthy fashion week parties, V magazine will discuss one of the industry’s scored Lady Gaga at its fete at Le Poisson Rouge. Page 30 most dramatic and high-stakes stories of the past two years — The new book “The Firm,” out Tuesday, recalls when J.C. Penney Co. Inc., where, as McKinsey & Co., the efficiency consultancy, was the most ceo, he is charged with turning fashionable name in media. Page 31 around the beleaguered retailer. Kay Krill, president and ceo of Ann Inc., will make her first ON WWD.COM summit appearance, as her com- pany rides strong results at both EYE: The Jonas Brothers, Ciara, Lily Kwong and Chelsea its Ann Taylor and Loft divisions, Leyland made their way to Prabal Gurung’s post-show party while numerous other specialty at Bar Nana in the Meatpacking District on Saturday. chains lag in an otherwise diffi- For more, see WWD.com. cult retail season. Also from the retail world: Nick Robertson, ceo of Asos, TO E-MAIL REPORTERS AND EDITORS AT WWD, THE ADDRESS IS the digital firm focused on Clockwise from top left: Michael Kors, Anna Wintour, Terry J. Lundgren, [email protected], USING THE INDIVIDUAL’S NAME. WWD IS A REGISTERED TRADEMARK OF ADVANCE MAGAZINE PUBLISHERS INC. Millennials that launched in the Alexander Wang and Leslie Moonves. COPYRIGHT ©2013 FAIRCHILD FASHION MEDIA. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. U.K., expanded to 240 countries VOLUME 206, NO. 51. MONDAY, SEPTEMBER 9, 2013. WWD (ISSN 0149–5380) is published daily (except Saturdays, Sundays and holidays, with one additional issue in March, May, June, August, October and December, and two and is headed to China this fall, delivering 10 conference titles cal science at Brown University.
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