Game of Shadows
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HOME BODIES FASHION DESIGNERS DISPLAYED THEIR LATEST RIHANNA’S RETURN HOME OFFERINGS AT THE SINGER MADE GOOD ON A DESIGN WEEK IN PROMISE AT THE UNFORGETTABLE MILAN. PAGE 10 EVENING IN L.A. PAGE 9 A NEW DARLING Tumi Shares Soar On Opening Day By VICKI M. YOUNG NEW YORK — Tumi Holdings Inc., appears to be the latest beneficiary of the Michael Kors effect. Tumi went public on the New York Stock Exchange Thursday and shares of the upscale luggage and ac- FRIDAY, APRIL 20, 2012 ■ WOMEN’S WEAR DAILY ■ $3.00 cessories fi rm climbed 61.7 percent to $29.10 in intra- day trading before closing at $26.50, still a 47.2 per- WWD cent jump from the opening price of $18 a share. The $18 opening price, which was set Wednesday night, was higher than the expected offering range of $15 and $17. Selling nearly 18.8 million shares, the initial public offering raised $338 million, giving the fi rm a valuation of $1.79 billion. For the year ended Dec. 31, net sales and operating income were $330 million and $60.4 million, respectively. The company trades under the symbol “TUMI.” Tumi’s public debut follows on the heels of Michael Kors’ IPO in December, which raised $944 million. Shares of Michael Kors Holdings Ltd., which were priced at $20 each, have doubled since their debut. Shares of Kors closed Thursday at $41.90, down 2.5 percent, on a day when the Dow Jones Industrial Average dipped 0.5 percent to 12,964.10 and the S&P Retail Index inched down 0.6 percent to 621.21. Even though its shares have slipped slightly, Kors still has a market capitalization of nearly $9 billion. The success of Kors’ IPO has fi rms and their invest- ment banking advisers eyeing the public markets and rethinking how much brands are worth, as well as SEE PAGE 5 Guess vs. Gucci Wraps Up By ALEXANDRA STEIGRAD NEW YORK — Paul Marciano left court with a smile on his face. The three-week trial, in which Gucci accused Guess Inc. of devising a “massive scheme” with its li- censees to infringe on the luxury brand’s trademarks, fi nally came to a close Thursday. “We had a good day,” the Guess chief executive offi cer told WWD. “I think we put up, in my view, overwhelming evidence of good faith that there was no infringement.” The case, which was fi led in Manhattan federal court in 2009, is centered on the notion that Guess — along with handbag licensee Signal Products Inc. and footwear licensee Marc Fisher Footwear — knocked off Gucci product, including goods that fea- tured the brand’s diamond-shaped logoed pattern, square “G” design, a signature script and tri-striped motif. Gucci is looking for damages of $221 million and injunctive relief. Game of Shadows Clad in a black suit, white button-down shirt and black striped tie, Marciano, who testifi ed two weeks Clinique has a new category in its sights for the Chubby Stick color earlier, seemed gratifi ed by the rousing closing ar- gument made by his attorney, Daniel Petrocelli of cosmetics franchise: Chubby Stick Shadow Tint for Eyes, an eye shadow O’Melveny & Myers LLP. in a crayonlike form. Due in September, the line will include 12 shades, Petrocelli, who is known for his work in the wrong- ful death civil suit against O.J. Simpson and for rep- each $16. Industry sources estimate they could rack up global retail sales resenting Enron ceo Jeffrey Skilling, had, until this of about $30 million in their fi rst year on counter. For more, see page 6. point, appeared more subdued than Gucci attorney Louis Ederer of Arnold & Porter LLP. Petrocelli built an argument that called into ques- tion Gucci’s motive for suing Guess three years ago after what Gucci alleges was nearly two decades of infringement. The lawyer pointed to e-mails between Guess and its licensees that discussed using Gucci product as inspiration for various designs. “When you’re sitting here in court and looking at one e-mail after another saying Gucci this and Gucci that…even to me it looks troubling…but people are confused by product, not e-mails,” Petrocelli said, ad- dressing presiding Judge Shira Scheindlin. “For the most part, the e-mails did not translate to PHOTO BY JOHN AQUINO SEE PAGE 2 2 WWD FRIDAY, APRIL 20, 2012 WWD.COM Deal Reached in Show Date Discord THE BRIEFING BOX a three-year agreement, and not a 20-year one as By KATYA FOREMAN and NINA JONES somebody had suggested, and it’s a schedule that is IN TODAY’S WWD underwritten by all parties. We entirely approve of PEACE REIGNS — for now. this [confirmation], which is a sign of respect to all Following months of back-and-forth negotiations operators, buyers and editors involved, who, while over fashion week schedules among the Council of facing the complexities of the markets, can at least Fashion Designers of America, the British Fashion count on the certainty of the calendars.” Council, Italy’s Camera Nazionale della Moda Milan’s fashion shows will take place Sept. 19 Italiana and France’s Chambre Syndicale, an agree- through Sept. 25, then Feb. 20 through Feb. 26 and ment has finally been reached. Sept. 18 through Sept. 24 in 2013. The Camera has In a joint statement issued Thursday, the CFDA not yet confirmed its show dates for 2014. and the BFC confirmed that they have agreed Didier Grumbach, president of the Chambre on the dates for fashion weeks in New York and Syndicale, said he was “happy” with the decision. The London through September 2014. “Both the BFC Chambre Syndicale in December said its members and CFDA are confident that this confirmation will had voted unanimously to stick to its planned dates ensure the smooth running of both fashion weeks, for Paris Fashion Weeks in 2013 and 2014, thwarting and allow for designer brands and businesses in all weeks of efforts by organizers in New York, Milan and four fashion capitals [New York, London, Milan and London to reach agreement on the show schedule. EICHNER Paris] to successfully plan for the long term,” the The slotted Paris dates are as follows: Sept. 25 organizations stated. through Oct. 3; Feb. 26 to Koudlam performing at the STEVE New York Fashion March 6 and Sept. 24 to Oct. 2 Dom Pérignon dinner and art installation. BY Week’s dates will run as in 2013, and Feb. 25 to March PHOTO follows: Sept. 6 through 5 and Sept. 23 to Oct. 1 in 2014. Sept. 13; Feb. 7 through The confirmation of dates Lawyers for Gucci, Guess and Marc Fisher presented Feb. 14 and Sept. 5 through comes amid speculation that closing arguments in their trademark trial. PAGE 1 Sept. 12 in 2013, and Feb. 6 Mercedes-Benz Fashion through Feb. 13 and Sept. 4 Week in New York could Tumi Holdings Inc. went public Thursday and its shares through Sept. 11 in 2014. be relocating once the five- climbed 61.7 percent to $29.10 in intraday trading before London Fashion Week’s year contract between IMG closing at $26.50. PAGE 1 dates will be: Sept. 14 and Lincoln Center expires. through Sept. 18; Feb. 15 Relations between IMG and Uniqlo, to boost its profile in the U.S. ahead of an through Feb. 19 and Sept. Lincoln Center are said to ambitious retail expansion, is launching an ad campaign 13 through Sept. 17 in 2013, be difficult, and sources with actress Dakota Johnson. PAGE 4 and Feb. 14 through Feb. 18 close to IMG said that the and Sept. 12 through Sept. company has explored other 16 in 2014. AQUINO venue options, but declined Former president George W. Bush will speak at the National Association of Chain Drug Stores’ Annual Meeting. PAGE 6 Steven Kolb, chief exec- JOHN to be more specific. BY utive officer of the CFDA, Readying the tents at Lincoln Center. Many consider the said that the organization Hudson Yards project as Clinique is expanding its Chubby color cosmetics had “tried to change the PHOTO a potential venue for fash- franchise into eye shadow this fall. PAGE 6 dates and keep [the start] on the second Thursday ion week. The ambitious $15 billion development [of September and February], so that American project on the far west side of Manhattan as a po- As the battle rages on between local-sale sites such designers would have more time for the delivery tential site for future New York Fashion Weeks as Groupon Inc. and flash-sale ones like Gilt, it appears of fabrics and for preparing their collections. We was endorsed by Mayor Michael Bloomberg last the Gilt model is winning. PAGE 8 worked hard to get Paris and Milan to agree with November, more specifically its sprawling, modern the second Thursday start and, unfortunately, center called the Culture Shed. Rihanna wowed the crowd at the Unforgettable Evening, we were unable to convince them otherwise, and Whether IMG is seriously considering the site the yearly Entertainment Industry Foundation Women’s so our first Thursday start is based on Paris and when its contract expires in 2015 remains unclear. Cancer Research Fund benefit in Los Angeles. PAGE 9 Milan’s decision to not move their dates.” “We’re still within the contract [with Lincoln For September, the New York shows will therefore Center],” Peter Levy, managing director and senior One year after installing its paywall, The New York always kick off on the Thursday after Labor Day.