Dueling Divas
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CVS’ latest MULBERRY SCORES/20 AVON’S MARK CHIEF/8 exclusive: Skin Effects by Dr. Jeffrey Dover. For WWWDomen’s Wear Daily • The Retailers’FRIDAY Daily Newspaper • June 24, 2005 • $2.00 more, see page 9. Beauty Dueling Divas By Julie Naughton NEW YORK — If this fall’s fragrance business was a reality show, it would have to be called “Celebrity Smackdown.” What began as a redux of a popular Eighties fragrance genre — celebrity scents — with Glow by JLo in September 2002, has erupted into a full-scale version of star wars. And it’s about to get more intense. This fall, Jennifer Lopez, the celebrity who single-handedly revived the genre by racking up first-year global sales of $100 million with her maiden fragrance, is going head-to-head with Britney Spears, the See J.Lo, Page6 Fantasy Britney Spears, left, and Live Jennifer Lopez. Y BRYN KENNY PHOTOS BY JOHN AQUINO; STYLED B PHOTOS BY 2 WWD, FRIDAY, JUNE 24, 2005 WWD.COM Greenspan Warns on China Tariffs By Kristi Ellis that China artificially underval- for them to move,” Snow said of ues the yuan, lowering prices of the Chinese. WWDFRIDAY Beauty WASHINGTON — Federal exports by as much as 40 per- Bunning responded, “I hope Reserve Board chairman Alan cent and putting U.S. companies the Congress of the United GENERAL Greenspan warned Congress at a competitive disadvantage. States doesn’t have to force you BEAUTY: A fragrance celebrity bonanza is shaping up for fall with the Thursday that imposing tariffs Greenspan said China to make that move.” 1 launches of Fantasy Britney Spears and Live Jennifer Lopez. on Chinese imports would have should continue moving toward Greenspan and Snow said Fed chairman Alan Greenspan told Congress that imposing tariffs on a negative impact on the U.S. a more flexible exchange rate several legislative proposals for Chinese imports would hurt the economy, but many senators disagreed. economy and pressuring China because it would be “helpful to sanctions against China’s trad- 2 for a more flexible exchange China’s economic stability and ing practices would be “coun- A former factory owner in American Samoa was sentenced to 40 years in rate would not boost manufac- hence to world and U.S. eco- terproductive.” Congress is re- 2 prison for holding Chinese and Vietnamese workers in forced servitude. turing and jobs. nomic growth.” viewing six bills that would im- SUZY: Looking at the giddy social scene in London…First Niece Lauren Bush Greenspan, appearing before Snow took a harsher view, pose sanctions or change U.S. 4 is celebrating her 21st birthday tonight with a buffet supper at 21, naturally. the Senate Finance Committee, telling the committee, “If cur- laws to allow companies to file clashed on monetary policy rent trends continue without countervailing duty cases EYE: The DeBeers LV store opening party was met by protesters, including with Treasury Secretary John substantial alteration, China’s against China if it doesn’t re- 5 Gloria Steinem, complaining about how the diamonds were mined. Snow, who also testified. Snow policies will likely meet the form its currency policy. Avon Products has named former Stila executive Claudia Poccia president agreed that trade sanctions technical requirements of the One measure discussed at 8 of its young-spirited Mark brand, a post vacant since January. would be a mistake. statute for designation” as a the hearing, sponsored by Sens. Mulberry, the British accessories and ready-to-wear brand, saw profits The Fed chief engaged in “currency manipulator,” which Charles Schumer (D., N.Y.) and blossom to $3.6 million for the year, propelled by sales of leather bags. tense exchanges with senators might lead to World Trade Lindsey Graham (R., S.C.), 20 who said China’s trading prac- Organization sanctions. would mandate an across-the- Classified Advertisements........................................................................23 tices have driven up the U.S.- Sen. Jim Bunning (R., Ky.) board tariff of 27.5 percent on China trade deficit and decimat- asked Snow why China doesn’t Chinese imports if the yuan To e-mail reporters and editors at WWD, the address is ed the manufacturing base. already meet the requirements isn’t revalued over a set period [email protected], using the individual’s name. “Some observers mistakenly of being a currency manipulator. of time. WOMEN’S WEAR DAILY IS A REGISTERED TRADEMARK OF FAIRCHILD PUBLICATIONS, INC. COPYRIGHT ©2005 believe that a marked increase “It is only recently that we “Af ter years of inaction, we FAIRCHILD PUBLICATIONS, INC. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. VOLUME 189, NO. 133. WWD (ISSN # 0149-5380) is published daily except Saturdays, Sundays and holidays, with one in the exchange value of the concluded that progress in are frustrated,” said Schumer, additional issue in June; two additional issues in April, May, August, October, November and December, and three additional Chinese [yuan] relative to the China with respect to its bank- who said failing to convince issues in February, March and September, by Fairchild Publications, Inc., a subsidiary of Advance Publications, Inc. PRINCIPAL OFFICE: 7 West 34th Street, New York, NY 10001. Shared Services provided by Advance Magazine Publishers Inc.: S.I. Newhouse, Jr., U.S. dollar would significantly ing system and financial insti- China to “play by the rules of Chairman; Steven T. Florio, Vice Chairman; Charles H. Townsend, C.O.O.; John W. Bellando, Executive Vice-President and C.F.O.; Jill increase manufacturing activity tutions, and modernization of the game” will lead to a “wither- Bright, Executive Vice-President_Human Resources; John Buese, Executive Vice-President_ Chief Information Officer; David Orlin, and jobs in the United States,” the way its financial infrastruc- ing away” of global support for Senior Vice-President_Strategic Sourcing; Robert Bennis, Senior Vice-President_Real Estate; David B. Chemidlin, Senior Vice- President_General Manager, Advance Magazine Group Shared Services Center. Periodicals postage paid at New York, NY and at Greenspan said. “I am aware of ture works, achieved sufficient free trade. additional mailing offices. Canada Post Publications Mail Agreement No. 40032712. Canadian Goods and Services Tax Registration no credible evidence that sup- robustness that it could accom- Greenspan said, “The prob- No. 88654-9096-RM0001. 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NEW YORK — Vendors have Practices.” The mission is to after Saks Inc. disclosed issues followed through on a prom- “create a better partnership surrounding markdown al- ise and formed a coalition to with the retail community so lowances for the bridge collec- work with retailers on key both retailers and their vendors tion of its Saks Fifth Avenue di- Quote of the Week business practices — espe- can make a fair profit,” he said. vision. As a result, Saks said in cially chargebacks. Four guiding principles of March it would need to restate The group met for the first the organization were estab- its financial statements for cer- The really wonderful thing about it time Thursday at the Phillips lished: Educating the vendor tain periods. The retailer has “ Nizer law firm in Manhattan, community and retailers about since widened its internal in- is, since it’s Steve Florio’s book, no said Donald Kreindler, a lawyer the applicable laws governing vestigation to include charge- at the firm. However, Kreindler their relationship; developing, backs. It also is reviewing one will read it. He worked his whole declined to name those who at- in partnership with retailers, whether related accounting is- tended, citing the coalition’s practices that are more fair sues at its Saks Fifth Avenue life just to get to the point where he agreement that meetings and and equitable to both sides of unit extend to categories be- the identities of those involved the business partnership; rec- yond the bridge area.