HOME STYLE INTO CHANEL’S REVAMPED SOUTH COAST PLAZA STORE AFRICA SHINING BRIGHTER HAS A MORE RESIDENTIAL FEEL. PAGE 8 THE CONTINENT’S POTENTIAL AS AN APPAREL MANUFACTURING HUB IS STARTING TO BE REALIZED. THE TREND IN MEN’S UNDERWEAR IS BOLDER COLORS. PAGE 2 PAGE MW1

ADDING TO THE STABLE Authentic Brands Buys Jones New York Label

By VICKI M. YOUNG

THE JONES NEW YORK brand, which does nearly $1 billion in annual retail volume worldwide, is now under the Authentic Brands Group’s umbrella. ABG on Tuesday acquired the intellectual prop- erty assets of the brand from private equity fi rm THURSDAY, APRIL 23, 2015 ■ $3.00 ■ WOMEN’S WEAR DAILY Sycamore Partners for an undisclosed amount. WWD It’s a move that brings ABG’s portfolio — which in- cludes brands such as Juicy Couture, Judith Leiber, Adrienne Vittadini, Taryn Rose, Misook, Marilyn Monroe, Hickey Freeman, Hart Schaffner Marx and Spyder — to more than $4.5 billion in retail sales. Sycamore acquired the brand when it bought Jones Apparel Group for $2.2 billion in 2014. Current operations, such as stores that were a part of the for- mer business under Sycamore’s ownership, are now in wind-down mode. Jamie Salter, chairman and chief executive offi cer of ABG, said, “With a 40-year history of iconic and timeless design, Jones New York embodies American style. Our vision fuses ABG’s passion for brand-build- ing with a 21st-century approach that will redefi ne Heather this enduring classic.” Salter explained that the company’s portfolio of women’s brands already contains many “elevated presti- gious brands. With regard to a comprehensive, full-scale women’s tailored, fashion brand, there was white space within our portfolio. Having Jones New York under our Report umbrella puts ABG in a different strata for our women’s portfolio.” Salter said the acquisition “amps up the game” for ABG, noting that Jones’ tailored, suiting and There’s something so understated — and yet sportswear component is “similar to Elie Tahari, Donna not — about Paul Smith’s wool top and pants Karan and the Calvin Klein brands” in the contempo- rary-bridge category at the department store level. in an exploded check pattern, incorporating “It was very important for ABG to get a staple brand multiple grays and other neutrals to novel for this category, especially such an American clas- sic. This is similar to our approach in men’s when we effect, especially when mixed with a bit of took over ownership of the Hickey Freeman and Hart sparkle. For more, see pages 4 and 5. SEE PAGE 6 Baker, Weston, Others Said Eyeing KaDeWe

By DAVID MOIN

ONE OF EUROPE’S largest flagship department stores, KaDeWe in Berlin, has caught the eye of ac- quisitive retailers continents apart. Richard Baker’s Hudson’s Bay Co., the Selfridges Group owned by Galen Weston, China’s Sanpower Group, and Qatari investors are said to be among the parties interested in acquiring the store, although it’s unclear whether the KaDeWe fl agship and the rest of the premium group owned by Karstadt are for sale. The three-store premium group includes the KaDeWe Berlin fl agship, Alsterhaus in Hamburg and Öberpollinger in Munich. KaDeWe and Alsterhaus are said to be performing well, while Öberpollinger is considered oversized and underperforming. The KaDeWe Group is part of the struggling Karstadt chain, which operates 83 midmarket Karstadt department stores and 28 Karstadt Sports stores across Germany. In August, Karstadt was bought by Signa, the Austrian real estate company and investor, which ac- quired it from Nicolas Berggruen. The Karstadt chain has been struggling for more than a decade and at- tempts to revamp and reposition it have borne little fruit. KaDeWe and Signa executives declined to com- ment on a potential sale. According to reports out of Germany this week, there was a crisis meeting of senior management recently, with major cut-backs apparently in the works, and the union already threatening strikes. PHOTO BY FRANCK MURA; STYLED BY LAURENT FOLCHER When Karstadt chairman Stephan Fanderl unveiled

MODEL: DOLORES DOLL/FORD PARIS; HAIR BY TOMOKO OHAMA AT CALLISTE PARIS; MAKEUP BY JONATHAN SANCHEZ; DIAMOND EARRINGS BY YANNIS SERGAKIS; GOLD RING BY VHERNIER; RHINESTONE BRACELETS BY VETEMENTS; WEEJUNS SHOES BY G.H. BASS VETEMENTS; & CO. WEEJUNS SHOES BY BY VHERNIER; RHINESTONE BRACELETS SERGAKIS; GOLD RING BY YANNIS SANCHEZ; DIAMOND EARRINGS BY JONATHAN MAKEUP BY CALLISTE PARIS; OHAMA AT TOMOKO HAIR BY DOLL/FORD PARIS; MODEL: DOLORES SEE PAGE 7 2 WWD THURSDAY, APRIL 23, 2015 WWD.COM

Study Shows Industry Interest THE BRIEFING BOX In East African Sourcing Rising IN TODAY’S WWD

Africa becoming a more viable alternative for select- Emma Watson at the By ARTHUR FRIEDMAN ed large players in the basics categories, the level of Time 100 gala. For investment will rise at a faster pace that sees a dou- more, see WWD.com. AFRICA’S POTENTIAL as fertile ground for appar- bling in the region’s exports to $1 billion a year over el manufacturing is starting to take seed. the next fi ve years and to $1.7 billion per annum over In a new McKinsey & Co. study, “Sourcing in a the next decade. In this scenario, East Africa could Volatile World — the East Africa opportunity,” set to move beyond cut, make and trim facilities and fi nd be released today, 40 percent of U.S. and European itself on the path to verticalization. chief purchasing offi cers indicated that sub-Saha- Discussing Kenya and Ethiopia, Berg said, ran Africa will become more important to the ap- “These two countries now have opportunities to parel industry in the next fi ve years, jumping from boost their share of the global sourcing market. 24 percent when last surveyed in 2013. While Ethiopia has benefi ts on the cost side, such Asked to rank the most important future as labor and energy costs, Kenya offers higher lev- sourcing destinations, respondents identified els of productivity. But there are still some hurdles Bangladesh, Vietnam, Myanmar and Ethiopia, the that both countries need to overcome. They must fi rst time an African country was mentioned in this work to ensure social standards and legal security, context. On average,’’ CPOs plan to increase their as well as fi ght corruption.” PHOTO BY KEVIN MAZUR/GETTYPHOTO IMAGESBY FOR TIM current level of sourcing from sub-Saharan Africa These countries also reveal weaknesses that are to 2.8 percent from 0.3 percent by 2020. The study typical for emerging industries. The CPOs identi- surveyed leading international apparel CPOs who fi ed the shortage of qualifi ed technicians in Kenya The Jones New York brand, which does nearly $1 billion in together are responsible for a sourcing volume of and Ethiopia as the most signifi cant business-relat- annual retail volume worldwide, is now under the Authentic around $70 billion. ed challenge. They also criticized the lack of well- Brands Group’s umbrella. PAGE 1 The positive outlook on sub-Saharan Africa is trained middle management and the upstream in- spurred by anticipated long-term growth in the re- dustry in Kenya. Regarding Ethiopia, respondents One of Europe’s largest fl agship department stores, KaDeWe gion’s employable population that will reach levels recognized issues of ineffi cient production and in- in Berlin, has caught the eye of acquisitive retailers continents similar to those of China by 2035, the study notes. suffi cient logistics infrastructure. apart. PAGE 1 “There is extensive potential in sub-Saharan In 2008, the Kenyan government added the gar- Africa and it remains untapped,” said Achim Berg, ment industry to its list of focus industries it ex- Sensing J.C. Penney Co. Inc.’s turnaround effort is gaining a principal in McKinsey’s Frankfurt offi ce and pects will drive the country’s industrialization, traction, Standard & Poor lifted the department store retailer’s leader of the Apparel, Fashion & Luxury Group. as part of its “Kenya Vision 2030” program, and outook to “positive” from “stable.” PAGE 7 “Nevertheless, it is essential to analyze the coun- implemented several measures to support the in- dustry’s development. The growth of the Kenyan apparel Art Peck and Jeff Kirwan will have a “daunting” challenge industry was driven almost exclusively on their hands in steering the Gap brand back to growth While Ethiopia has benefits on by the duty-free access it enjoys from after what has essentially been a lost decade. PAGE 7 the U.S. through the African Growth the cost side, such as labor and and Opportunity Act, with 92 percent To try and drum up some excitement about its April 30 Future of garment exports in 2013 delivered to of Fashion show, the Fashion Institute of Technology has held its energy costs, Kenya offers the U.S. Kenya’s industry currently spe- fi rst People’s Choice Award competition. PAGE 8 cializes in supplying high-volume, good- quality bulk basics. However, due to the Bonnie Cashin’s signature sportswear is on view in what is the higher levels of productivity. lack of a local upstream industry, fab- fi rst fashion exhibition to be staged in the 91-year history of rics have to be imported and are mainly San Francisco’s Legion of Honor. PAGE 8 — ACHIM BERG, MCKINSEY & CO. sourced from China. Trousers account for 58 percent of the apparel exported Hudson’s Bay Co. recently completed a massive overhaul of from Kenya to the U.S. the men’s department at the Queen Street fl agship in Toronto Over the last two years there has been that highlights the company’s range of price points. PAGE MW1 tries in this region at a granular level. At the mo- a lot of buzz about Ethiopia, with leading European ment, sub-Saharan Africa has only a 0.56 percent buyers starting to source from the country and Jeremy Langmead is heading home, back to MrPorter.com, large U.S. players exploring the opportunity. At share of the entire global volume of clothing ex- where he will take up the newly created role of brand and ports. That equates to $2.6 billion. The region has the same time, several integrated players and CMT content director. PAGE MW2 good opportunities to develop positively, and es- manufacturers from Turkey and Asia have com- tablish fair social and environmental protection mitted to investing and starting businesses there. standards. In order for all parties to achieve sus- But Ethiopia’s industry remains nascent, account- 50 Cent has his sights set on conquering a new category: tainable economic success, companies must work ing for 0.01 percent of global apparel exports. An performance underwear, puting his weight — and cash — extensively with both governments and suppliers analysis of Ethiopia’s exports to Europe’s 15 largest behind Frigo. PAGE MW6 on social and compliance issues.” economies shows that 46 percent were comprised Within the sub-Saharan region, CPOs are mainly of T-shirts and 31 percent were trousers. After a successful launch at the January show, the American looking to East Africa, said the report, particularly With the potential shown by East Africa, China contingent will return to Pitti Uomo this summer, with 21 brands Ethiopia and Kenya. Of those surveyed, 28 percent isn’t going away. About 39 percent of global appar- showcasing at the the bi-annual men’s show. PAGE MW8 expect to start sourcing in Ethiopia by 2020, ’’while el exports, with a value of $177 billion, currently 8 percent are planning to increase their sourcing come from China. ON WWD.COM share in Ethiopia. For Kenya, 13 percent plan to start “China continues to dominate the sourcing sourcing in the next fi ve years and 5 percent plan to market,” Berg said. “Bangladesh, Vietnam and increase what they already do. About 25 percent of Myanmar combined generate less than one-third of Time 100: Time magazine hosted its annual gala in New the companies surveyed said they have sourced from China’s export value,” yet the trend of seeking out York to celebrate its list of 100 of the most infl uential sub-Saharan Africa in the past 12 months. new sourcing destinations continues. people in the world. For more, see WWD.com. McKinsey estimates that with expected incremen- Some 75 percent of the CPOs surveyed ex- tal growth, exports would reach $500 million over pressed a desire to shift at least a portion of their the next fi ve years, which roughly equals the growth production from China. CPOs in Europe assume rate of the region in the past few years, at around 5 that exchange rates and labor costs will have the FOLLOW US ON SOCIAL MEDIA percent annually, and could grow to $700 million in greatest impact on sourcing costs, while U.S. buyers @ WWD.com/social the next 10 years. But under a scenario that sees East see raw material costs as the most important factor. TO E-MAIL REPORTERS AND EDITORS AT WWD, THE ADDRESS IS [email protected], USING THE INDIVIDUAL’S NAME. WWD IS A REGISTERED TRADEMARK OF FAIRCHILD PUBLISHING, LLC. COPYRIGHT ©2014 FAIRCHILD PUBLISHING, LLC. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. VOLUME 209, NO. 83. APRIL 23, 2015. WWD (ISSN 0149-5380) is published daily (except Saturdays, Sundays and holidays, with one additional issue in March, June, August, September, October, November and December, and two additional issues in April and three additional issues in February) by Fairchild Media, LLC, which is a division of Penske John Fairchild Memorial Set for Monday Business Media, LLC. PRINCIPAL OFFICE: 11175 Santa Monica Blvd., 9th Floor, Los Angeles, CA 90025. Periodicals postage paid at Los Angeles, CA, and at additional mailing offi ces. Canada Post: return undeliverable Canadian addresses to P.O. 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Subscribers: If the Post Offi ce alerts us that your magazine is undeliverable, we have no further obligation unless we receive a corrected Publications, will be held at 11 a.m. on Monday also championed Yves Saint Laurent through- address within one year. If during your subscription term or up to one year after the magazine becomes undeliverable, you at the Church of the Ascension at 36-38 Fifth out his career. Along the way he coined terms are ever dissatisfi ed with your subscription, let us know. You will receive a full refund on all unmailed issues. First copy of new subscription will be mailed within four weeks after receipt of order. We reserve the right to change the number of issues Avenue at 10th Street. that are still used today: HotPants; Ladies Who contained in a subscription term and/or the way the product is delivered. Address all editorial, business and production Fairchild died Feb. 27 at age 87. 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WWD IS NOT RESPONSIBLE FOR THE RETURN OR LOSS OF, OR FOR DAMAGE OR ANY OTHER INJURY TO, UNSOLICITED later chairman and editorial director of the en- column under the nom de plume The Countess MANUSCRIPTS, UNSOLICITED ART WORK (INCLUDING, BUT NOT LIMITED TO, DRAWINGS, PHOTOGRAPHS, AND tire company, he helped shape the modern fash- Louise J. Esterhazy. TRANSPARENCIES), OR ANY OTHER UNSOLICITED MATERIALS. THOSE SubMITTING MANUSCRIPTS, PHOTOGRAPHS, ART WORK, OR OTHER MATERIALS FOR CONSIDERATION SHOULD NOT SEND ORIGINALS, UNLESS SPECIFICALLY REQUESTED TO DO SO BY WWD IN WRITING. MANUSCRIPTS, PHOTOGRAPHS, AND OTHER MATERIALS SubMITTED MUST BE ACCOMPANIED BY A SELF-ADDRESSED STAMPED ENVELOPE. BEAUTY SUMMIT JUNE 9-10, 2015

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Koché’s cotton fl eece coat and shorts with Fab T-shirt. Diamond rings by Maison Margiela; rhinestone earrings by Dannijo.

THE SUBTLE GRACE OF GRAY — FROM SOOTHING HEATHER TO POWER PINSTRIPES — LOOKS SMART AND SOPHISTICATED IN A FALL SEASON FILLED WITH BOLD PATTERNS AND BOHEMIAN INFLUENCES. gray matters 4 WWD THURSDAY, APRIL 23, 2015 WWD THURSDAY, APRIL 23, 2015 5 WWD.COM

Koché’s cotton fl eece coat and René by René Storck’s J. JS Lee’s wool 1205’s wool bouclé shorts with Fab T-shirt. Diamond wool pin-striped suit with felt “trompe jumpsuit. Diamond rings by Maison Margiela; Joseph’s wool felt top. l’oeil” top and and gold bracelet rhinestone earrings by Dannijo. Rhinestone earrings and pants. Gold and by Yannis Sergakis; bracelets by Vetements; diamond earrings rhinestone gold ring by Vhernier. by Vhernier; necklace by Ca & rhinestone Lou; Weejuns shoes bracelets by by G.H. Bass & Co. Vetements.

Gauchère’s wool Koché’s cotton fleece coat fl annel jacket and shorts with Fab T-shirt. and shorts with Diamond rings by Maison Vetements’ Margiela; rhinestone earrings felted-wool and by Dannijo. viscose sweater. Diamond ring by 1205’s wool bouclé jumpsuit. Maison Margiela; Diamond and gold bracelet by rhinestone Yannis Sergakis; rhinestone bracelets by necklace by Ca & Lou; Weejuns Vetements; gold shoes by G.H. Bass & Co. and diamond earrings by René by René Storck’s wool Vhernier. pin-striped suit with Joseph’s wool felt top. Rhinestone THE SUBTLE GRACE OF earrings and bracelets by Vetements; gold ring by GRAY — FROM SOOTHING Vhernier. HEATHER TO POWER PINSTRIPES — LOOKS Gauchère’s wool fl annel jack- SMART AND SOPHISTICATED et and shorts with Vetements’ IN A FALL SEASON FILLED felted-wool and viscose sweat- WITH BOLD PATTERNS AND er. Diamond ring by Maison Margiela; rhinestone bracelets BOHEMIAN INFLUENCES. gray matters by Vetements; gold and diamond earrings by Vhernier.

J. JS Lee’s wool felt “trompe l’oeil” top and pants. Gold and diamond earrings by Vhernier; rhinestone bracelets by Vetements.

photo by franck mura; styled by laurent folcher MODEL: DOLORES DOLL/FORD PARIS; HAIR BY TOMOKO OHAMA AT CALLISTE PARIS; MAKEUP BY JONATHAN SANCHEZ JONATHAN MAKEUP BY CALLISTE PARIS; OHAMA AT TOMOKO HAIR BY DOLL/FORD PARIS; MODEL: DOLORES

2.5x7 (left)

6 WWD THURSDAY, APRIL 23, 2015 Jones New York ’’ Now Under ABG Ownership XXXXXX {Continued from page one} international markets including Canada, Schaffner Marx brands,” Salter emphasized. Europe, the Middle East and Latin The firm is moving aggressively to America. Existing inventory will continue implement a going-forward strategy for to be sold in those doors through the fall. Xxx Xxx Xxx the brand, with the initial goal to empha- The new team will soon start taking spring size women’s apparel and accessories orders, with plans for the fi rst deliveries as it works to rebuild Jones to its former in mid-November of this year. Xxx Xxx Xxx Xxx prominence. Jones New York also had a According to Salter, ABG has already had small position in men’s tailored clothing, talks with the retail community, which be- By VICKI M. YOUNG sportswear and accessories and a men’s lieves the Jones brand “still resonates strong- component will play a role in ABG’s global THE JONES NEW YORK brand, which does nearly growth plans for the brand. $1 billion in annual retail volume worldwide, is now ABG has yet to reveal its strategic part- Jones can still be the under the Authentic Brands Group’s umbrella. ner for Jones New York in the U.S. and ABG on Tuesday acquired the intellectual prop- Canada for key categories including wom- erty assets of the brand from private equity fi rm en’s sportswear, tailored apparel, small force that it was in Sycamore Partners for an undisclosed amount. It’s a leather goods, footwear, home and hand- move that brings ABG’s portfolio — which includes bags and accessories, which are slated to the department store fi rms such as Juicy Couture, Judith Leiber, Adrienne be in all retail doors in spring 2016. Salter Vittadini, Taryn Rose, Misook, Marilyn Monroe, declined to say who that might be, although doors. It just needs the Hickey Freeman, Hart Schaffner Marx and Spyder — he noted that there are discussions taking to more than $4.5 billion in retail sales. place. Since the company is looking at Jones New York’s intellectual Sycamore acquired the brand when it bought women’s and men’s products, the top three right management. property assets were snapped up by Jones Apparel Group for $2.2 billion in 2014. Current candidates are G-III Apparel Group Ltd., ABG for an undisclosed amount. operations, such as stores that were a part of the for- PVH Corp. and Global Brands Group. Of — MARK WEBER mer business under Sycamore’s ownership, are now the three, ABG already has close ties with in wind-down mode. Global Brands Group, which is its partner ly with consumers and, more importantly, Woodhouse, ABG’s president and chief those doors. “Regardless of where Jones Jamie Salter, chairman and chief executive offi cer in the design and production of women’s will continue to have the same distribution merchandising offi cer. was, the brand can still be the force that it of ABG, said, “With a 40-year history of iconic and products in multiple categories and territo- strategy and licensing partners they’ve had “I will devote whatever time I can and was in the department store doors. It just timeless design, Jones New York embodies American ries for the Juicy Couture, Spyder Ski and in the past for over a decade,” he said. help in whatever way I can,” he said. “This needs the right management and ABG style. Our vision fuses ABG’s passion for brand-build- Sportswear and Adrienne Vittadini brands. ABG also has hired Mark Weber as a is a labor of love. The Jones brand has had can do this in a relatively short order.” ing with a 21st-century approach that will redefi ne “We’re also excited to continue work- strategic adviser to the company. Weber billions in sales over a long period of time. Weber said he’s up to the challenge: this enduring classic.” ing with current partners on the Jones most recently was chief executive offi cer of Whether it’s attention loss or whatnot, “There are many issues in relaunching Salter explained that the company’s portfolio of brand in other categories,” Salter said. LVMH Inc. and chairman and ceo of Donna somewhere along the way, the brand had a brand, issues that I’ve lived through women’s brands already contains many “elevated presti- One category example is outerwear. Karan International and Thomas Pink. not been given the attention, nurturing, many times.” gious brands. With regard to a comprehensive, full-scale Trademarks for Jones New York under Because the position is not full-time, and is care or excitement it deserved. Whether Separately, ABG also named Javier women’s tailored, fashion brand, there was white space ABG’s ownership include Jones New York part of Weber’s consultancy practice — he it’s product or marketing, ABG’s reinven- Brandwain as managing director for within our portfolio. Having Jones New York under our Collection; Jones New York Signature; Jones is a consultant to Relativity and LVMH Inc. tion of the brand will allow it to be repo- Latin America and the Caribbean to umbrella puts ABG in a different strata for our women’s New York Sport; Jones New York Studio; — he remains free to work’’ part-time on his sitioned so it can have a great chance of lead ABG’s growth in those territories. portfolio.” Salter said the acquisition “amps up the Jones JNY; Jones & Co., and Jones Studio. second book, this time about law and fash- being extraordinarily important again.” Brandwain will be based in Montevideo, game” for ABG, noting that Jones’ tailored, suiting and The Jones brand, prior to its shutdown ion. Weber’s son Jarrod Weber works at Weber added that the “big retailers Uruguay and will have oversight for li- sportswear component is “similar to Elie Tahari, Donna by Sycamore earlier this year, was sold in ABG as vice president of its men’s division, need big brands” and the companies that censing, joint venture partnerships and Karan and the Calvin Klein brands” in the contempo- department stores in the U.S. and in key which is how he got to know Salter and Nick back them to fi ll the volume needed at all direct-to-retail opportunities. rary-bridge category at the department store level. “It was very important for ABG to get a staple brand for this category, especially such an American clas- sic. This is similar to our approach in men’s when we Richemont Warns of 36% Profi t Drop took over ownership of the Hickey Freeman and Hart

SEE PAGE XX than current expectations.” By SAMANTHA CONTI Vontobel Research said in a sepa- rate statement that Richemont’s ex- LONDON — Investors shrugged off pected underlying reported sales and Compagnie Financière Richemont’s operating profi t are “fully in line” with unscheduled announcement its own estimates. Wednesday that full-year net profit will As reported in November, plunge 36 percent, due chiefly to non- Richemont got off to a rocky start in the cash currency translation effects linked fi rst half, with profi ts falling 23.5 per- to its 5.4 billion euro, or $5.79 billion, cent to 907 million euros, or $1.22 bil- pile of cash. lion, in the six months to Sept. 30 due In midafternoon trading, the stock to volatile trading conditions world- was down 0.1 percent to 83 Swiss francs, wide and to charges linked to the fi rm’s or $86.74, in a day that saw luxury shares hedging program. including Kering, Burberry, Mulberry and First-half sales were up 2 percent Salvatore Ferragamo at actual exchange book more signifi- rates and 4 percent cant losses. at constant ones. Parent of brands In Wednesday’s including Cartier, statement, Dunhill and Van Richemont clari- Cleef & Arpels, 4% fied the impact of Richemont said in INCREASE SEEN FOR RICHEMONT last month’s Net-a- a brief statement porter spin-off on that net earnings SALES IN 2014-15 FISCAL YEAR. its balance sheet, in the year ended and re-presented its March 31 would results for the year. be dented “signifi cantly” by non-cash, Net-a-porter will be classifi ed as a mark-to-market losses on fi nancial in- “discontinued operation” in the group’s struments, which include monetary consolidated statement for the years items and derivatives. ended March 31, 2015 and 2014. The losses are related to euro- Stripping out the impact of Net-a- linked investments, which are required porter’s results, Richemont’s sales for to be converted into Swiss francs, trig- the 2014-15 fi scal year ended March 31 gering losses on paper. Richemont are set to increase 4 percent on a re- clarifi ed that the non-cash losses had ported basis, and 1 percent on a con- no material impact on the group’s net stant currency one. cash position of 5.4 billion euros. Operating profit will increase 10 Although Richemont attributed the percent, including a previously dis- 36 percent decline to the losses on closed gain on the sale of a retail space paper, some analysts said the luxury on Fifth Avenue in Manhattan. goods group’s profi t story runs deeper. Richemont said the re-presented re- “The group is warning on its full- sults have “no material impact” on the year results,” said Luca Solca in a group’s operating profi t or net profi t for fl ash statement following Richemont’s the 2014 and 2015 fi nancial years or on announcement. Solca pointed to the net cash position. Richemont’s anticipated 10 percent Richemont is to announce full re- uptick in full-year operating profi t, and sults for the year ended March 31 on concluded that it’s “4-5 percent lower May 22. 2.5x7 (right)

WWD THURSDAY, APRIL 23, 2015 7 WWD.COM The KaDeWe store in Berlin. Gap Seen Facing Uphill Climb 30 percent between 2005 and 2014, and that By ARNOLD J. KARR contributed to a drop in sales to $4 billion from $5.4 billion. But it wasn’t a reduc- GAP INC.’S new management might find tion in store count that sent sales down — the task of turning around its namesake comparable sales at Gap fell in all but two brand more formidable than it expected. years, 2012 and 2013, and even the stronger Art Peck, who succeeded Glenn Murphy stores remaining “struggled to comp posi- as chief executive officer of the company tive, and typically did not,” the report said. in February, and Jeff Kirwan, who took Even in the two years when comps the reins of the Gap brand from Stephen were up, it was average unit retail that Sunnucks in December, will have a “daunt- produced the increases as traffic declined ing” challenge on their hands in steering an estimated 50 percent during the de- the Gap brand back to growth after what cade, according to Wells Fargo estimates. has essentially been a lost decade, accord- Sales productivity has also declined ing to a research note from Wells Fargo over the decade, dropping 20 percent in Securities analyst Paul Lejuez. the 10 years since 2005 to about $325 a “While those that look back only a few square foot. This, Lejuez noted, “calls years might conclude this is a brand that into question the overall profitability of lost its way in 2014 after a strong 2012-13, the fleet.…Even including [e-commerce], a look back over 10 years shows this is a sales productivity is still below $400 a brand that has been losing market share square foot and 7 percent below where it and mindshare over a much longer pe- was in 2005.” Wells Fargo estimates that, riod. Against that backdrop, it may not based on its knowledge of sales productiv- seem as easy to fix,” Lejuez wrote. ity in the factory outlet channel, analysts Gap’s square footage in North America believe that full-price Gap stores are gen- Germany’s KaDeWe shrank 20 percent and its store count fell erating “well below” $300 a square foot. Said Drawing Interest {Continued from page one} lier this week revealed plans to open S&P Raises Penney’s Outlook a restructuring program in October, he three stores in China by 2017. SENSING THAT J.C. Penney Co. Inc.’s turn- and EBITDA reaching $323 million last year said it will “demand much from us” Sales have been slipping at the $3.45 around effort is gaining traction, Standard versus a $819 million EBITDA loss in 2013. and “not be possible to ensure the sur- billion, money-losing Karstadt. With the & Poor’s Ratings Services Thursday lifted Schultz said the argument for a rat- vival of the entire group without very pruning of stores, 2,400 of the depart- the midtier department store retailer’s out- ing upgrade would be supported if cash painful decisions as well as door clo- ment store chain’s 20,000 employees look to “positive” from “stable.” flow, exclusive of capital expenditures, sures. All efforts must be targeted at are expected to lose their jobs, though While S&P said that Plano, Tex.-based were to reach $250 million or higher and improving operative performance as to date, only about 900 have been let go. Penney’s ability to improve its metrics EBITDA were to approach or surpass $1 well as the stores’ profitability.” KaDeWe, at 60,000 square meters, or could lead to a capital structure that is billion versus S&P’s current forecast of One retail analyst close to the 646,000 square feet, is one of the largest “sustainable” and effect a “modest up- about $800 million in the current year. KaDeWe Group (formerly the Karstadt department stores in Europe, and com- grade,” it reaffirmed all of its credit rat- He’s also looking for reductions in leg- Premium Group) said, “KaDeWe is parable in size to Saks Fifth Avenue on ings, including the corporate credit rat- acy selling, general and administrative profitable. It was thought more likely Fifth Avenue. Öberpollinger is 33,000 ing of “CCC-plus,” which connotes that its costs as well as success in online initia- that they [Signa] would get rid of some square meters, or about 355,000 square debt is “currently vulnerable and depen- tives and improvements in the home fur- Karstadt [retail] properties, or close feet; Alsterhaus is 18,000 square meters, dent on favorable business, financial and nishings segment. some of the loss-making Karstadt de- or 193,824 square feet. economic conditions” to meet its finan- There are conditions under which partment store doors, and concentrate “A sale of the premium store group cial commitments. S&P could be led to lower Penney’s on prime assets like KaDeWe in this is going through in the next couple of The “CCC” family of ratings is four credit ratings, including “merchandise first phase. But in this world, everything weeks,” said one retail source. below investment grade. missteps or an unexpected erosion of is possible.” Retail analyst Walter Loeb said, “I “We think there is a one-third chance consumer spending leading to a return One retail source characterized the don’t think Weston is so interested. How that adjusted EBITDA will approach to significant cash use. KaDeWe flagship as “the Harrods of could he be? He’s so busy with Primark.” around $1 billion [in 2015], which is one “In such a scenario, the company is Berlin, with a famous food hall on the One analyst close to the KaDeWe indication that the company’s capital unable to stabilize operations, return to top floor. But it has fallen from grace Group said the general consensus has structure would be sustainable,” wrote cash burn in the range of around $750 over the past 20 years or so. I could en- been that Signa would want to concen- S&P credit analyst Robert Schultz. million,” the analyst wrote. “Additional vision a department store buyer taking trate on its more lucrative operations, He noted that comparable-store sales financing options would narrow and ven- it, somebody with lots of money and ex- namely KaDeWe, while shedding weak- and EBITDA both moved into positive ter- dors would tighten terms, leading to a isting infrastructure such as Selfridges, er Karstadt doors. However, as one in- ritory last year, with comps up 4.4 percent substantial decline in cash on hand.” La Rinascente or the Qataris. That said, sider said in regard to KaDeWe, “The in both the fourth quarter and the full year — A.J.K. it could be prey for a real estate devel- thought of a sale has often come up, but oper who would convert the building this time it could be more serious.” into a shopping mall or flats, or do a “Our criteria is to acquire compa- Primark on the first two floors and of- nies that provide us with synergies, cost fices or flats above.” savings, an opportunity to operate the It’s the type of towering retail site business maybe better than the previ- that Baker, governor and executive ous management and to have some real chairman of Hudson’s Bay Co., would estate component,” Baker said during covet. HBC bought Lord & Taylor and an earnings conference call earlier this Saks Fifth Avenue largely for the valu- month. “We have the capacity and finan- For more career opportunities log on to WWDCareers.com. able L&T and Saks flagships on Fifth cial capability to do a transaction at this Avenue in Manhattan, among other sites, time, but we are very careful and picky and has generated billions in monetizing and relatively conservative. So we’ll see the real estate under the properties. how it goes….Our focus is really on acqui- Check out The Selfridges Group, led by Weston, sitions in the luxury space, in the better, the new DIGITAL could extend its international port- midtier space and in off-price. The qual- folio with the addition of KaDeWe. ity of a brand is very meaningful to us.” version of The group’s holdings include Ogilvy’s Baker has said HBC could “peri- PATTERNS, SAMPLES, and Holt Renfrew in Canada; Brown odically” make some “large-scale ac- PRODUCTIONS Full service shop to the trade. Thomas in Ireland; Selfridges in quisitions,” which could be in North Fine fast work. 212-869-2699 The the U.K., and de Bijenkorf in the America or internationally. “We look Netherlands. Also, the Weston family is at department stores and businesses premier preparing to bring Primark to the U.S., throughout the world that would fit in destination beginning with a 70,000-square-foot well,” he said. Neiman Marcus has been store in Boston toward the end of this high on his list, though it would be im- for the fashion year on the site of a former Filene’s de- possible to buy considering it was pur- industry’s Real Estate, partment store. chased by Ares Management LLC and Primark will expand its entry into the Canada Pension Plan Investment Business Opportunities, the northeastern U.S. market via retail Board for $6 billion in 2013. and Help Wanted listings. space in seven Sears stores. Primark is Baker would not comment on KaDeWe. part of Associated British Foods plc, the KaDeWe, which opened in 1907, POST YOUR LISTINGS ONLINE NOW! publicly quoted company owned by the survived through World Wars I and Weston family. II and The Depression. In the early FASHIONCAREERS.MARKET.ADICIO.COM The Qatari investment group that Forties, a U.S. plane crashed into the last year bought French retailer building, which was renovated and re- Printemps is believed to be seeking opened in 1950. additional companies to buy. China’s — WITH CONTRIBUTIONS Sanpower Group last year bought FROM MELISSA DRIER House of Fraser in the U.K., which ear- AND SAMANTHA CONTI 8 WWD THURSDAY, APRIL 23, 2015 WWD.COM Chanel’s new look at South Coast Plaza. FASHION SCOOPS

PEOPLE HAVE SPOKEN: To the structure of the REIT, try and drum up some Sears will enter into a master excitement about its April 30 agreement to leaseback the Future of Fashion show and properties from the REIT. looking to make the ticketless Subscription rights to the feel involved, the Fashion REIT will be distributed to Institute of Technology Sears shareholders on a pro- has held its first People’s rata basis. Choice Award competition. Schall most recently served During last week’s two-day as chief operating officer of vote, nearly 17,500 people Rouse Properties Inc., where considered 27 faculty- he oversaw the operations of 35 selected garments by senior malls in 21 states incorporating

ELLA students before deciding on about 25 million square D

AR an ostrich feather dress by feet of space. Before that he S Special Occasion designer was senior vice president at Caroline Vagnone as the winner. Vornado Realty Trust. Nine Fashion Design faculty — VICKI M. YOUNG members, who had the South Coast Chanel Boutique Revamped seniors in their classes, each HOME AND AWAY: Northern PHOTOS BY DONATO DONATO PHOTOS BY nominated three pieces from California home brand ating in temporary space at the with Nordstrom in the Westfield his or her class. Serena & Lily debuted its By KARI HAMANAKA center since construction began Topanga mall are all set to Vagnone’s creation, first foray into women’s in July of last year. see refreshes in the next few which has a bodice made of fashion this week with the CHANEL TOOK GREAT care The additional space cre- months, according to Cirkva. A French knots and an illusion arrival of a capsule collection to bring a residential quality to ated room for a full line of fine new boutique is also in the pipe- neckline, will be among the for spring. Tailoring and its redone and expanded South jewelry, watch boutique and an line and could be revealed in as runway looks at next week’s “iconic silhouettes” anchor Coast Plaza boutique. expanded ready-to-wear area early as a month. Nicole Richie-hosted event. the 18-piece collection The Peter Marino-designed along with the build-out of a It’s a multitude of projects as Vagnone racked up more than from the Sausalito-based store officially opened dedicated shoe department. The Cirkva wraps up her final year 3,800 votes for her design. company, founded in 2003 by Thursday, following an event Mademoiselle Privé Camélia at Chanel and will likely take up Promoted largely via social Serena Dugan, now the chief Wednesday evening. watch launched exclusively at the bulk of her remaining time media, the People’s creative officer, The 25-year-old boutique has South Coast Plaza. along with global projects as a Choice Award also FOR MORE and Lily Kanter, undergone minor renovations Dressing rooms have touch- member of the leadership com- helped to boost SCOOPS, SEE currently chief since its opening at the Orange screens built into the wall, al- mittee, she said. And there’s FIT’s Web traffic, executive officer. County shopping center, but this lowing customers to control the also the matter of helping the generating nearly WWD.com. With prices represents the most complete body 25,400 visitors from $98 to $325, of work, according to division pres- during the two-day dresses dominate ident of fashion Barbara Cirkva. vote. An FIT spokeswoman and include a fit and “You have the Peter Marino said, “Requests to attend flare style in cotton twill, a concept when he first started the show are so high and streamlined trapeze dress using Coco Chanel’s apart- space rather limited, so the and cotton shirtdress. A silk ment as reference and the idea People’s Choice Award has and linen poncho top, obi of using materials she used... given people the opportunity belts and palazzo pants in a but as the concept has evolved, to participate in another way scarf-weight silk round out what’s been important to us is and to get involved and share the collection. each region has its own person- with one another.” The move to expand ality,” Cirkva said. “So South — ROSEMARY FEITELBERG beyond the colorful prints Coast Plaza looks different than and breezy housewares and San Francisco because San SEARS’ REIT HAS A CEO: Sears furnishings that define the Francisco is more of a down- Holdings Corp. said Benjamin brand’s core offerings into town city and it looks differ- Schall was named chief women’s apparel follows ent than Robertson, which has executive officer of Seritage a reported $42.9 million its own personality.... It’s not a Growth Properties, effective funding round last April for cookie-cutter approach but a May 4. Seritage is the newly the company, which counts much more regional approach.” formed real estate investment retail locations in San That meant infusing the Gold details mirror the interior of Coco Chanel’s apartment. trust that will own at least Francisco and Wainscott, N. Y. ocean into certain parts of the 254 properties that operate as Next up: a fall collection is boutique, such as the wave pat- lighting, temperature and music company with its search for her Sears and Kmart nameplates. planned to arrive on the Web tern on some of its walls. But as- inside their space. successor, she added. Those properties are currently site Aug. 18. pects such as rock crystals and The South Coast redesign follows “I have another 12 months to owned by Sears. As part of — LORRAINE SANDERS touches of gold throughout ring Houston, which opened in December. make it all happen,” Cirkva said. true to Chanel’s apartment. There are also other re- The company revealed her The boutique added about freshes taking place among the planned exit earlier this month. designer’s favorite phrase, 2,000 square feet and now totals company’s locations in depart- As for what’s next, Cirkva said one that she first took a liking 9,000 square feet in the center’s ment store shops-in-shop — a she hasn’t even begun to explore MEMO PAD to in the Forties, said Lake, Nordstrom wing, which is sur- portfolio totaling 91. Neiman her options. who designs her own label of rounded by Tiffany & Co., Hermès Marcus Chanel locations in San “I have a long time to think CASHIN ON VIEW — AND BY THE accessories. and Dior. Chanel had been oper- Diego and Beverly Hills along about that,” she said. BOOK: More than 15 years after As it turns out, DAAP has her death, Bonnie Cashin 200 of Cashin’s designs that seems to be having a moment. were a gift from Ohio State Her signature sportswear is University. Those items were on view in what is the first initially given to OSU by Phil McMillon’s Pay Down 24.2% at Wal-Mart fashion exhibition to be Sills, whose company Sills & tion, nearly tripled to $2.9 mil- based on operating income and staged in the 91-year history Co. manufactured Cashin’s By ARNOLD J. KARR lion from $1 million. sales performance, “were sig- of San Francisco’s Legion of sportswear from 1952 until the But after receiving $23 mil- nificantly below target,” with Honor. Earlier this month late Seventies. OSU still has DOUGLAS MCMILLON, presi- lion in stock awards in 2013 as McMillon as ceo receiving a the Cincinnati Art Museum some of the Cashin designs dent and chief executive officer he prepared to assume the role payout equal to about 75 per- teamed up with the University given by Sills. The two schools of Wal-Mart Stores Inc., saw his of ceo, those awards dropped cent of the target amount. Stock of Cincinnati’s College of may apply for a joint grant pay decline nearly a quarter in 36.6 percent last year to $14.5 award payments were also well Design, Architecture, Art, to digitalize their respective his first year on the job. million. The SEC requires that beneath target levels, ranging and Planning for a pop-up Cashin collections together to According to Wal-Mart’s stock awards be reported at from 67 to 76 percent of target exhibition dedicated to make them more accessible definitive proxy, filed with grant date fair value. Amounts amount, based on sales and re- Cashin. Meanwhile, Stephanie to others, said DAAP’s Jennifer the Securities and Exchange recognized by the executive turn-on-investment metrics. Lake, who befriended Cashin H. Krivickas. In addition to Commission Wednesday, may vary based on fluctuation in In his first year after suc- later in life and maintains the being the head of the school’s McMillon earned $19.4 million stock prices and vesting sched- ceeding McMillon as ceo of most comprehensive Bonnie Robert A. Deshon & Karl J. last year, 24.2 percent below the ules, among other factors. Wal-Mart International, David Cashin archive, is finishing Schlachter Library for Design, $25.6 million earned in 2013, his Change in pension value and Cheesewright earned $10.7 mil- up a monograph about the she teaches “Documenting a final year as ceo of the compa- nonqualified deferred compen- lion. Gregory Foran, who suc- designer drawing from the Fashion Icon,” a progressive ny’s international operations. sation, an actuarial measure, ceeded Bill Simon as ceo of Wal- personal items and clothing grant-funded class where The cash component of his declined 4.7 percent to $322,000 Mart U.S. in July, earned $19.5 collection she was given by students are chronicling pay doubled, to $4.1 million, from $338,000, while other com- million, including a $500,000 one- Cashin’s estate. Due out next Cashin’s collection by as his salary increased 25.8 pensation increased 54.9 per- time bonus for his promotion and spring, the Rizzoli tome’s photographing, Photoshopping percent to $1.2 million from cent to $394,000 from $254,000. $15.8 million in stock awards. working title — “Bonnie and writing descriptive $954,000 and his bonus, or non- Wal-Mart said in its proxy Their previous compensation Cashin: Chic Is Where You narratives, among other things. equity incentive plan compensa- that cash bonuses, primarily levels weren’t provided by Wal-Mart. Find It” — refers to the — ROSEMARY FEITELBERG MAN OF THE WEEK

Subhead Señor Cuomo PLUS New York Governor Andrew Cuomo 2(x)ist looks to expand has plenty of room to add some fl air to his look. Page MW8 its reach under CEO Tom Speight. Page MW6

April 23, 2015

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

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XXXXX XXXXX XXXX Calvin Klein Underwear’s cotton NORTHERN EXPOSURE XXXX XXX XXXXX XXX X and polyester briefs and trunks. XXX XXXX XXX XXX XX” Men’s Gets Update — XXXXX XXXXXX At Hudson’s Bay’s Queen Street Store Contemporary brands are highlighted in the Headline Goes renovated Toronto fl agship. by JEAN E. PALMIERI

Dek goes here for this dek goes here for this NEW YORK — Men’s wear is on the front burner for Hudson’s Bay Co. this spring. The Canadian retailer recently complet- dek goes here for this. ed a massive overhaul of the men’s depart- ment at the Queen Street fl agship in Toronto that highlights the company’s range of price points in a new clean, elevated atmosphere. “Men’s has been on a solid growth trajec- tory for a while,” said Liz Rodbell, presi- dent of the Hudson’s Bay Co. Department Store Group. “We’re well penetrated, but we believe men’s still has tremendous growth potential.” Footwear and contemporary sportswear are among the most promising categories, she said, and thus got a big boost during the Queen Street renovation. The renovation is part of what Wayne Drummond, group senior vice president of apparel for Hudson’s Bay and Lord & Taylor, said is a “huge investment” the company is making in men’s wear. One reason, according to MaryAnne Morin, chief merchant offi cer of Hudson’s Bay Co., is that: “Men’s is grow- ing at a faster rate than ladies’.” The company declined to provide a per- centage of business that men’s represents, but industry sources say it is in the mid-twenties. Drummond said that prior to the reno- vation, men’s had been split between two fl oors on Queen Street: the second and the concourse, but it has now been brought to- gether on the fi fth fl oor. Although the total size, which is around 100,000 square feet, is slightly less than in the past, the airy design makes for an easier shopping experience, the executives believe. “There’s much more space for product,” Drummond said, de- scribing it as a “very loftlike” design “where guys feel like hanging out. It actually feels larger than before the renovation.” This is a similar aesthetic to the com- pany’s Vancouver store that was renovated a few years ago. Windows, which had previously been cov- ered up or visible only in stockrooms, have also been opened up, allowing natural light onto the fl oor. “The fi xtures are relatively sim- ple, and we’re letting the light do the work, so the product can really shine,” Drummond said. Overall, he said Hudson’s Bay has “creat- ed some very distinct lifestyle laneways on Midas Touch the fl oor” with targeted areas for contempo- rary, better and classic merchandise. The The men’s underwear category is having a golden moment store built a “denim destination” for the category Drummond called a “growth en- with overall sales up, established players expanding their gine for Hudson’s Bay and Lord & Taylor,” and tailored clothing and furnishings have assortments and new performance-focused brands emerging. their own home at the back of the fl oor. Although every category got a facelift, For a closer look at the underwear market, see pages MW4 to MW8. the biggest winner in terms of focus on the fl oor is the contemporary department.

PHOTO BY GREG VAUGHAN; MODEL: YOUNES AT RE:QUEST; STYLED BY ALEXBADIA STYLED BY RE:QUEST; AT MODEL: YOUNES GREG VAUGHAN; PHOTOBY {Continued on page MW2} MW2 WWD THURSDAY, APRIL 23, 2015 Men’s Week Subhead Hudson’s Bay Renovates Toronto Men’s Area {Continued from page MW1} cased the variety of price points “We’ve really distorted the con- The new men’s store on Queen Street. offered. It was sent to more than temporary area,” Drummond said, one million customers throughout adding labels such as Moschino, Canada. A separate premium book Eleven Paris and Criminal Damage was also produced that was sent to that are exclusive to the company the more sophisticated urban man. in Canada. “This is not what people were ex- Other new ready-to-wear labels pecting from Hudson’s Bay,” Crotty for spring include Gant Rugger, said. “But we have this guy in the W.R.K., Alessandro Cantarelli, store and he’s comfortable buy- Tombolini, van Laack and Sundek. ing Band of Outsiders in the same In accessories, additions include place as an Arrow dress shirt.” Jack Spade, Marc by Marc Jacobs, A summer catalogue will inte- John Varvatos Star USA, Degs & Sal grate all categories and products and King Baby. in one book and replace the requi- The Queen Street store also site Mother’s Day and Father’s Day boasts a 4,000-square-foot shoe de- catalogues, he said. partment that is the “single largest FOR MORE IMAGES, SEE Morin said the changes in the footwear space of any Hudson’s Queen Street store will be refl ected Bay or Lord & Taylor store,” WWD.com/ in other units across the chain. In menswear-news. Drummond said. A number of new addition to the other flagships in brands were added to the mix here Vancouver, Montreal and Yorkdale,

including Bally, Church’s, Paul PIKE DAVID PHOTO BY elements of this renovation will Smith, Oliver Sweeney, Hunter, be refl ected in “other doors where Fish ’N’ Chips and Boss Red. THE CONSUMER TODAY IS RARELY ALL OR NOTHING men’s is highly penetrated,” she said. “We’ve added a whole new level This will include Ottawa, which is of designer shoes and a lot more IN TERMS OF THEIR LIFESTYLES AND PRICE POINTS.” slated for a major renovation, as well brands,” Drummond said. The as Southcentre and Richmond Hill. shoes are positioned in such a way “ — MARYANNE MORIN Three to fi ve stores a year will that they stretch from the denim get a facelift, she said, and the aes- area to the clothing department, happy we were able to offer luxury market. “There’s really not a moder- entiated product are huge priori- thetic showcased at Queen Street he said, noting that footwear is “a to more accessible price points, ate retailer in Canada,” Drummond ties for Hudson’s Bay and Lord & will serve as the new standard. Headline Goes major hub for men’s today.” contemporary to classic,” she said. said. So Hudson Bay’s mix of high Taylor,” Drummond said. In recent years, Hudson’s Bay The store has also created a Tommy Hilfiger, who visited and low hits all the bases. Black Brown, which started at Co. — which operates Hudson’s Bay, men’s fragrance and grooming the Queen Street store for a recent “We are the department store L&T and expanded into Hudson’s Lord & Taylor, Saks Fifth Avenue Dek goes here for this dek goes here for this space that includes a John Allan’s event, said he was “very impressed of Canada,” Morin added. “We’re Bay, was originally designed by and Saks Off 5th — has been work- club and salon, he said. with the assortment and the range of in a unique position in our down- Joseph Abboud. Today, Peter Rizzo, ing hard to solidify its financial Among the brands with strong brands presented.” He said the de- town stores because we service the the former Barneys New York position. Last year, it initiated the dek goes here for this. statements in the Queen Street sign allows for a “real ability to shop higher end, but we don’t lose sight of and Bergdorf Goodman executive, sale and leaseback of the Queen store are Polo Ralph Lauren, which the fl oor. There’s plenty of light and the customer who is also coming to is overseeing the label as senior Street property for 650 million is housed in a shop that spans more space, and the layout is modern and us for value. The consumer today is vice president of men’s design. Canadian dollars ($523 million) than 5,400 square feet, and there’s a thoughtful. It has a strong private rarely all or nothing in terms of their Drummond revealed that Rizzo is and in November, it completed a 1,500-square-foot shop for Topman, label selection and a mix of high lifestyles and price points. So he can also preparing to introduce the com- $1.25 billion, 20-year mortgage on which is exclusive to Hudson’s Bay and low brands, which is interesting. come in and spend $98 on a Polo pany’s newest label — a brand of suit the ground portion of the Saks Fifth in Canada. The store has also in- It looks like it’ll be very successful.” short or $29 on a Hudson North one.” separates and furnishings targeted Avenue fl agship in New York. At stalled a “whole new active world” “The penetration of men’s In furnishings, Drummond said, to the Millennial customer. Called the same time, the corporation has of around 3,000 square feet with in Canada is high,” Drummond shoppers can find a $39 Arrow 1670 — the year Hudson’s Bay was pledged to reinvest $2 billion in cash brands such as Under Armour, noted, “and Hudson’s Bay has a dress shirt, a Black Brown 1826 founded — it will hit stores this fall. over the next fi ve years to upgrade Adidas and others. disproportionate share. We have private label model for $49.99 or a The marketing for the company its stores and systems. Earlier this Morin said the men’s fl oor has [really focused on] the men’s busi- Hugo Boss shirt at $120 or $145. is also being updated to refl ect the month, Hudson’s Bay reported that much more of a “natural fl ow” that ness over the past fi ve years and What also sets Hudson’s Bay new merchandising approach. net earnings almost quadrupled in was made possible because it was we cater to every price and style.” apart is the company’s strong pri- Michael Crotty, executive vice the fourth quarter ended Jan. 31 completely gutted and rebuilt to In Canada, where the company op- vate brand offering. The team de- president and chief marketing of- to 111 million Canadian dollars, or the current team’s specifi cations. erates 90 department stores from clined to provide a percentage of fi cer, said the print and digital of- $95.5 million. The department store It also showcases the breadth of coast to coast, there are luxury play- sales for its private brands, saying ferings have been “elevated.” For group, which includes Hudson’s Bay price points offered. ers such as Holt Renfrew and Harry only that they represent “an impor- spring, the store created a flip- and Lord & Taylor, saw same-store Rodbell agreed. “It exceeded Rosen, but not a lot of lower-end tant part of our business.” book with men’s on one side and sales grow 2.3 percent, with men’s our expectations and we were players. In fact, Target is exiting the “Offering exclusive and differ- women’s on the other that show- wear among the best performers. Langmead to Return to Mr Porter Heartworks Gala Raises $1.2 Million THERE WASN’T a dry eye in The event honored Marfan suf- LONDON — Jeremy Langmead is ments, and create a powerful the room at the 15th annual ferers and their biggest support- heading home, back to MrPorter. strategy” for further growth. Heartworks Gala, a fund-raising ers. Carolyn Levering, the outgoing com, where he will take up the Tansley said the company was event that benefits The Marfan emeritus chief executive offi cer of newly created role of brand and “proud to see that the founding Foundation, a group that helps the foundation, and Isaiah Austin, content director. Langmead, who principals of our business, which patients and families affected by the former Baylor University bas- spent the past year at Christie’s he helped put in place, will con- the Marfan syndrome, a genetic ketball star who has the disease, London as chief content offi cer, will tinue to develop further with his connective-tissue disorder. were awarded this year. rejoin the e-commerce site, part of return. The merging of content, Karen Murray, president of VF “I’m accepting this award for Net-a-porter Group, on June 1. brand marketing and commerce Sportswear, served as host and all the people who have been Langmead was formerly editor is core to the Mr Porter DNA.” corporate sponsor of the event, through this walk and journey with in chief of Mr Porter and a mem- Before joining Mr Porter ini- me,” said 21-year- ber of its launch team in 2011. In tially, Langmead was editor of old Austin, who this new role, he will drive “overall British Esquire, Wallpaper maga- pushed through brand vision,” and lead the con- zine and Sunday Times Style. He tears while giving tent and marketing teams globally, was also Life & Style Editor of the his speech. WWD has learned. London Evening Standard. Austin had to John Brodie, who succeeded Jeremy Langmead During his year at Christie’s, withdraw from the Langmead as editor in chief of Mr he put together a new content 2014 NBA draft Porter last May, will take on the new team, relaunched the auction Walt when he found out, role of editorial director U.S., overseeing all of the re- house’s magazine, created an interiors publication “Clyde” Karen only a few days be- gion’s content for the site, and putting a strong focus on and an online daily news hub. He also oversaw a Frazier Murray and fore the draft, that the American market, which the company said has wit- facelift of key elements of christies.com. and Isaiah Michael he had Marfans Austin Bloomberg

nessed “exceptional growth” over the past 12 months. Upon his return to Mr Porter, he’ll become part of FALK EVAN PHOTOS BY and needed to stop Langmead’s remit is to build on the Mr Porter a whole new entity. Last month, luxury goods giant playing basketball. content and editorial vision, and to drive “creative Compagnie Financière Richemont revealed the which took place at Cipriani 42nd Austin’s diagnosis has brought a brand marketing” worldwide. The site engages with merger of Net-a-porter with Yoox to create a new re- Street last week. Murray, whose son surge of attention to the disease. more than 2.5 million men every month, and delivers tail brand, Yoox Net-a-porter, which will be quoted Michael has the disease, brought The day after he revealed he was to more than 170 countries. on the Italian bourse. together a group that included affl icted with the disease, traffi c Langmead will report to managing director Ian The new group will have combined net reve- former Mayor Michael Bloomberg, to the Marfan Foundation Web site Tansley, and will be based in the London headquarters nues of 1.3 billion euros, or $1.41 billion at current Broadway star Megan Hilty, for- shot up from 60,000 visits to half a of Net-a-porter. exchange. The merger is conditional upon the ap- mer Knicks player Walter “Clyde” million, according to Martin. “A year away was far too long,” Langmead said. proval of Yoox shareholders at a meeting to be held Frazier, Knicks broadcaster Jill The event raised $1.2 million “I can’t wait to take on this new role and join to- in June and the new company should offi cially come Martin and Janice Huff, chief me- for the foundation. gether the content, branding and marketing ele- together in September. — SAMANTHA CONTI teorologist at NBC 4 New York. — ARIA HUGHES

MW4 WWD THURSDAY, APRIL 23, 2015 Men’s Week Subhead Under Armour’s polyester and elastane trunks. 2(x)ist’s nylon and spandex trunks and Sunspel’s cotton tank.

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

XXXX XXXX XXXXX XXXXX XXXXX XXXX XXXX XXX XXXXX XXX X XXX XXXX XXX XXX XX” — XXXXX XXXXXX Headline Goes Dek goes here for this dek goes here for this dek goes here for this.

GOING BRIGHT Vibrant colors, statement waistbands, aerodynamic construction and performance fabrics continue to transform the underwear staple into the ultimate attention-grabbing functional garment. — ALEX BADIA MW4 WWD THURSDAY, APRIL 23, 2015 Men’s Week Men’s Week WWD THURSDAY, APRIL 23, 2015 MW5 Subhead Under Armour’s polyester and elastane trunks. 2(x)ist’s nylon and spandex trunks and Sunspel’s cotton tank. Happy Socks x Billionaire Boys Club’s C-In2’s polyester and elastane briefs and cotton and elastane trunks. T by Alexander Wang’s cotton tank.

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

XXXX XXXX XXXXX XXXXX XXXXX XXXX XXXX XXX XXXXX XXX X XXX XXXX XXX XXX XX” — XXXXX XXXXXX Headline Goes Dek goes here for this dek goes here for this dek goes here for this.

GOING BRIGHT Vibrant colors, statement waistbands, aerodynamic construction and performance fabrics continue to transform the underwear staple into the ultimate attention-grabbing functional garment. — ALEX BADIA PHOTOS BY GREG VAUGHAN MODEL: YOUNES AT RE:QUEST; GROOMING BY TOVAH AVIGAIL FOR AMMON CARVER STUDIO; FASHION ASSISTANT: LUIS CAMPUZANO LUIS ASSISTANT: STUDIO; FASHION FOR AMMON CARVER AVIGAIL TOVAH GROOMING BY RE:QUEST; AT MODEL: YOUNES MW6 WWD THURSDAY, APRIL 23, 2015 Men’s Week Subhead 50 Cent Fronts Frigo’s Expansion Push by ARIA HUGHES Frigo, which means dry and cool in “Timbaland” Mosley have all purchased Latin, is sold at Lord & Taylor, Freshpair. stakes in Frigo. 50 CENT has his sights set on conquering a com and Neiman Marcus, which carries an “This is a different way of bringing things to new category: performance underwear. exclusive Frigo collection. market. I believe in endorsements when people The rapper and serial entrepreneur, Russ Patrick, senior vice president and put their skin in the game. It’s a testament to whose real name is Curtis Jackson, has general merchandise manager of men’s the product. From a fi nancial perspective it’s put his weight — and cash — behind Frigo, for Neiman Marcus, said the collection is great for us, but they also get a bigger piece of a men’s performance underwear brand doing well. the pie,” said Ingvarsson, who added that other FOR MORE IMAGES, SEE founded in Sweden by Mathias Ingvarsson, “Frigo combines luxury and technical celebrities have approached him to be involved the former president and European direc- performance, which is a new market in and Frigo is evaluating potential investors. WWD.com/ tor of mattress brand Tempur-Pedic. men’s underwear,” Patrick said. “The busi- Frigo hasn’t made a profit yet, but menswear-news. Jackson helped Ingvarsson close an $80 ness continues to grow as our clients expe- Ingvarsson said the $80 million licensing deal million licensing deal last December and rience and learn about the benefi ts of wear- with Robert Leng of Londyn Pilot Enterprises, he’s designing a collection of underwear ing Frigo’s unique design. Men’s underwear another investor in the brand, will expedite for the brand named Frigo Crown designed has not changed dramatically for decades. positive cash fl ow by removing production bar- XXXX XXXX XXXXX by 50, which will be in stores this summer. “You can think of probably four or fi ve Frigo packaging. XXXXX XXXXX XXXX different companies that produce high-end underwear for women, but there’s nothing XXXX XXX XXXXX XXX X that comes to mind that produces high-end stuff for men,” Jackson said. XXX XXXX XXX XXX XX” Luxury men’s underwear might be an underdeveloped category, but an NPD — XXXXX XXXXXX Group report said as men gravitate toward slimmer bottoms, they’re opting for fi tted underwear with stretch. The men’s under- Curtis “50 Cent” Jackson PHOTO BY PASCAL BERNIER PASCAL PHOTO BY wear market grew 3 percent in 2014 and reached $2.7 billion. Active underwear bot- Ingvarsson is hoping that men will spend toms made from performance and premium $100 on a pair on underwear that alleviate fabrics drove this growth, according to the the age-old issues they experience when research fi rm. wearing traditional cotton briefs or box- Jackson has developed a reputation for ers. Frigo underwear, which is produced investing in new or bubbling categories. He in Europe, is adjustable and features a pat- had an equity stake in Vitamin Water, and ented interior mesh pouch that prevents earned $100 million after Coca-Cola pur- sweating. A silicon lining stops the legs Frigo underwear. chased the brand in 2007. He also has invest- from riding up and the bonded fabric offers ments in SK Energy, an energy drink; SMS a seamless feel. Audio — an audio headphone accessories For the customer who can’t afford the It is refreshing to see a new brand come riers and expanding the brand’s distribution brand — and Effen Vodka. $100 price point of the Exclusive line, Frigo into the market and reinvent the category.” into Asia and parts of Europe. Londyn Pilot Ingvarsson, who brought Frigo to the offers Premium and Active collections that According to Ingvarsson, who said the Enterprises also operates a manufacturing site market in 2013, said he always wanted range from $20 to $45. T-shirts made from the Frigo customer ranges from age 15 to 80, in New Jersey, which Ingvarsson hopes to use. Jackson as a brand partner and approached same material start at $25 and go up to $100. once men experience the underwear’s For now, category expansion is him a few times before he signed on. An inventor who won a Tempur-Pedic pil- benefi ts, the price hesitation fades away. Ingvarsson’s key priority. He wants to apply “We wouldn’t have been able to do all low contest brought the patented, no-sweat un- “Fifteen to 20 percent of our revenue in the patented technology to swimwear and of this without 50. He was my number-one derwear to Ingvarsson’s offi ce. Ingvarsson tried dollars comes from the $100 version,” athleticwear and eventually move into socks, choice in terms of marketing the product. out the underwear and sent samples to friends Ingvarsson said. compression shorts and women’s. He has an athletic body and he’s known all for Christmas as a joke, but the feedback was so Other investors include former Yankee “We want to elevate Frigo from a super over the world. He’s a perfect partner in a positive he decided to buy the patent and start Derek Jeter, NBA Knicks player Carmelo underwear brand to a super brand,” nutshell,” Ingvarsson said. RevolutionWear, Frigo’s parent company. Anthony and music producer Timothy Ingvarsson said. 2(x)ist Seeks to Expand Its Reach by JEAN E. PALMIERI So before he jumps into the women’s percent of the business is wovens with 40 arena, Speight is looking outside the U.S. for percent knits. The mid-thigh volley model is NEW YORK — There is a world beyond un- growth for 2(x)ist’s men’s wear. Right now, 2(x)ist’s number-one silhouette. derwear — just ask Tom Speight. only 10 percent of 2(x)ist’s business comes Every year, 2(x)ist holds a fashion show to Since joining the brand just shy of two from overseas. showcase its newest product offerings. In the years ago, the president and chief executive The company operates licensed stores in October 2013 show, the company teased an offi cer of 2(x)ist has set his sights on creating Taiwan, Singapore and Kuala Lumpur; there ath-leisure collection that hit stores for fall. a complete lifestyle brand. are 14 concessions in Southeast Asia. This Speight said the results were “phenomenal,” The brand is part of Moret Group’s H Best month, the company will launch in Mexico with slim-leg joggers with chunky drawcords division and started life in 1991 as a body- with Liverpool stores and the brand is also and big pockets among the bestsellers. “This conscious underwear collection targeted to carried in Canada and Australia. is how our guy dresses today,” he said. “It’s the active man. Since that time, the label has “We have an eye on Europe, too,” what he lounges in and works out in and expanded into swimwear, activewear, hosiery Speight said. goes to the coffee shop in.” and even watches, and it’s sold at depart- E-commerce is also seen as an oppor- Speight said the company is signifi cantly ment stores and shops on six continents. tunity. Right now, e-commerce sales are expanding the number of pieces offered in But Speight, who had been president 12 percent of the total and they grew by 35 the ath-leisure collection for fall. “Our stock- of Calvin Klein Underwear and Jeans at percent last year. The company operates the keeping unit count is up 50 percent for fall in Warnaco before joining 2(x)ist in 2013, be- site itself and a new mobile platform was active, performance and loungewear,” he said. lieves its reach can be even broader. “Over launched at the end of last year. Social media is a priority and Speight said the next fi ve years, I want to be a full global Operating its own retail stores is another the company recently hired Samantha Eng to lifestyle brand,” he said in an interview at goal, Speight said, noting that he’s hoping to serve as director of social media. Her back- the brand’s Seventh Avenue offi ces. fi nd a site this year. “We’re aggressively look- ground includes brand marketing and public “I spent the fi rst eight months digging ing for locations to bring the 2(x)ist brand to relations manager for Marchon Eyewear. into the brand and the consumer to be sure life at retail,” he said. Tops on the list are “We used to talk to the consumer,” she we were positioned correctly,” Speight said. Boston, New York, Miami, Los Angeles and said, “but now we’re having a conversation.” “Our consumer is the self-purchasing male, San Francisco, as well as Chicago. Followers on Instagram have increased fi ve- Millennial to Gen Y. Our sweet spot is 25 to When Macy’s renovated its underwear fold since last year, she said, and 2(x)ist is 34. Everybody wants a share of his wallet.” shop at the Herald Square fl agship last year, working with infl uencers such as fi tness ex- On Speight’s wish list is men’s accessories, 2(x)ist installed a 500-square-foot hard shop. The brand added activewear for fall. perts, chefs and models who “align with the which the brand teased at its annual fashion This shop would be the prototype for the performance,” he said. For spring, the label 2(x)ist guy,” she said. show in October. This included “great gym brand’s own retail stores, Speight said. “It created a new product, Speed 2.0, made of Although the brand has had success carv- bags, totes and messengers,” he said, “that tells the story in a vibrant way and brings the nylon spandex with a mesh inset panel and ing out a niche, it’s certainly not the only are functional with pops of color and prints.” presentation to life in lifestyle montages” that double-printed waistband. The rise is low label seeking to align with this Millennial Other logical brand extensions include the brand shows on a 79-inch video screen. and the cut slim for the contemporary guy. consumer. Calvin Klein, Hugo Boss, Diesel, sunglasses and footwear — “everything that Although he declined to provide a vol- The brand also continues to mine its Under Armour and others are all gunning supports his lifestyle,” Speight said. “And ume fi gure, Speight said overall sales in heritage in color, offering a rainbow of hues for the same guy. we passionately believe there’s a women’s 2014 rose more than 30 percent with under- and prints. “Everybody is upping their game and we counterpart to this brand. But we believe in wear sales increasing in the solid double- Swimwear, which is in its fourth season, know the marketplace is crowded,” Speight said. incubating businesses and creating scale.” digits. “The biggest news in underwear is had a solid 2014 as well, Speight said. Sixty “So everything we do has to have a reason.”

MW8 WWD THURSDAY, APRIL 23, 2015 Men’s Week Subhead Hochman Sets Out to Revamp Naked by ARIA HUGHES The new logo is sleek with a transpar- The Vancouver native then appeared ent “e,” and the updated packaging fea- on the “Dragons’ Den,” Canada’s answer to NAKED IS GEARING UP for growth. tures boxes with an open fl ap so customers “Shark Tank,” in 2010, and a panelist offered With help from intimates veteran Carole can feel the product. The boxes are col- him $75,000 for his business. He declined the Hochman, who joined the company as chief ored by product style and showcase Naked offer, but his participation on the show piqued executive offi cer and chief creative offi cer Truths, or brand philosophies, such as, “If investors’ interest and he raised $140,000 be- last year, and marketing fi rm Case Study you run a race, will your underwear be fore Holt Renfrew picked up the product in FOR MORE IMAGES, SEE Brands, the men’s underwear and lounge- able to keep up? You’d hate to leave them 2010. Nordstrom was another early partner wear label is updating its assortment, logo, at the starting line. That might be a bit em- and added the line in 2012. Naked has also WWD.com/ marketing, packaging and e-commerce site. barrassing. Get Naked.” been sold in Hudson’s Bay since 2014. menswear-news. Hochman, who met Naked’s founder “With Naked, we want it to be about you,” Primus moved the brand’s operations Joel Primus through her son, is no stranger Primus said. “It’s anti-Victoria’s Secret. It’s from Vancouver to New York City last year, to developing brands. She spent more than against the grain of highly sexualized product.” and Naked currently shares offi ce space 30 years heading up the Carole Hochman The campaign, which launches on with Tellas, the U.S. subsidiary of China- XXXX XXXX XXXXX Design Group, which produced Hochman’s Naked’s social media platforms in mid- based manufacturer Luen Thai, and TMS, line of sleepwear and handled the inner- May, is titled “Collect Experiences, Not which manufactures Naked’s product. wear licenses for designers including Oscar Carole Hochman and Joel Primus Possessions,” and will According to Hochman, XXXXX XXXXX XXXX A look from the Naked collection.

de la Renta, Christian Dior and Betsey THOMAS IANNACCONE PHOTO BY highlight a new role model Naked has cut $3.5 mil- XXXX XXX XXXXX XXX X Johnson. Intimate apparel giant Komar pur- every three weeks. The lion worth of product this chased Hochman’s company in 2010 and she of underwear — Signature, Active, Luxury fi rst is Arjay Smith, a for- year, but she expects to XXX XXXX XXX XXX XX” resigned in 2013. and Essential — that come in three silhou- mer child actor who was double the business in “Once you sell your company, it’s not the ettes — boxer brief, brief and trunk. The recently in the fi nal sea- 2016. Hochman also fore- — XXXXX XXXXXX best place to be,” Hochman said. “This is Essential and Signature collections also in- son of the popular FX sees Naked becoming a like my second act.” clude a crew and V-neck T-shirt. Series “Sons of Anarchy,” full lifestyle brand. She’s Hochman’s main focus at Naked is to at- There is also Naked Silver, the top-of- and produces music. planning to add a wom- tract new customers. She’s attempting to do the-line collection that contains thread that Customers will be encour- en’s collection for fall this by updating Naked’s collection to include has been bonded with silver to prevent odor- aged to participate in the and envisions the line new styles of underwear, sleepwear and causing bacteria, and Naked Tencel, a line campaign by sharing their one day expanding into loungewear and bring the prices down. Using made with Tencel. role models on social media. home goods as well. her connections in sourcing and manufactur- “You can change a guy’s life with the Primus, a former elite runner who lost Hochman is hoping that the Naked fe- Headline Goes ing, the price range for a pair of underwear right product,” Primus said. his athletic scholarship due to a ruptured male customer will help expand the brand’s has dropped to $28 to $38 from $44 to $46. On the branding side, Connecticut-based Achilles, was hiking through Peru when he male customer base by educating them about The new men’s collection designed by Case Study Brands has elevated the packaging thought of the idea for Naked. He bought a the product. “The majority of men just don’t Dek goes here for this dek goes here for this Hochman was delivered to Holt Renfrew, and logo to line up with Naked’s understated pair of cotton underwear but wasn’t happy have an idea. Women buy their underwear,” Nordstrom and The Hudson’s Bay Co. last product offering and make it easy for shoppers with its performance. “I wanted to wear Hochman said. “Wearing a no-support cotton month. The line, which is made from cotton to identify the brand and how it’s different something that was luxurious but function- boxer brief is like women wearing the wrong- dek goes here for this. and cotton blends, includes four collections from other men’s underwear on the market. al,” he said. size bra. Men can feel better than they do.”

A denim display from Born in the USA. Man of THE WEEK ANDREW CUOMO: B-

The New York Governor,

who led a trade mission Let’s hope he’s applied to Cuba earlier this week, an SPF of 50 in sunny Havana. We don’t is trying for a business want those wrinkles to get any deeper. casual look, but he’s not

executing it very well. Unbutton the top button of the shirt and loosen We love a polka dot. your tie a bit. This should be about a very well-styled, The shoulder of the shirt relaxed attitude. isn’t hitting in the right place and there’s too much fabric around the Born in the USA Returning to Pitti waist. Invest in a slim- When rolling up AFTER A SUCCESSFUL launch at the of course, but even more so with meeting fi t dress shirt, which is a shirt sleeve, January show, the American contingent will and acquiring distributors they never would readily available at a never twist it return to Pitti Uomo this summer. have met otherwise,” said Ben-Avraham. retailer near you. less than three In a deal cut between Liberty Fairs Among the brands that will be returning times or more founder Sam Ben-Avraham and Raffaello are Filson, Freenote, Knickerbocker Mfg. The belt is old than fi ve. The Napoleone, chief executive offi cer of Pitti Co., MSL by Billy Reid, Red Wing and The school, but elegant. whole point is Immagine Srl, which stages the biannual Brooklyn Circus/BKc. New brands for this that the shirt men’s wear trade fair in Florence, a consor- edition include 3 Sixteen, Ernest Alexander, stays tight to tium of 20 U.S. brands showed at a special Shwood, Slightly Alabama and The Hill-Side. His hands look really the arm. Born in the USA by Liberty Fairs section John Argento, the European head of dry, he should consider earlier this year. This time, 21 brands will marketing and communications for Shinola, moisturizer, especially be showcased at the Archivi 1 area within said, “The concept was strong and Liberty when traveling. the Fortezza da Basso during the biannual did an excellent job in curating the brands men’s show, slated for June 16 to 19. on show and managing the environment. It The single-pleat The fi rst edition attracted 3,529 unique was the perfect fi t for us.” pant gives him visitors and 7,986 total visits over four days, Agostino Poletto, marketing director and mobility yet according to Liberty. Retailers represent- deputy general manager for Pitti Immagine, maintains the ed 65 percent of the visitors; distributors, called Born in the USA “an immediate suc- slim line of showrooms and agents represented 17 per- cess, both among the top buyers and the in- the leg. cent and press 5 percent. Among those who ternational press. It is above all a platform for stopped by were American Rag Cie China, some of the leading brands that were born and Armoury, Barneys New York and Barneys are still produced in the U.S. — collections Japan, Carson Street Clothiers, Galeries ranging from the world of classic to sportswear Lafayette, Gentry, Holt Renfrew, Isetan, — and representing one of the strongest trends Nordstrom and Selfridges. of fashion research today, which focuses the “We believe this partnership was success- spotlight on the origins of the product. At the A worn-in lace-up ful for our brands because of the strength of next Pitti Uomo in June, we will continue to is perfect for the collective. Every time you venture into a develop this collaboration and to strengthen the cobblestone new territory it’s highly benefi cial to be part the project by pushing the research even streets of Cuba. of a communal operation on the brand side further. We believe that Born in the USA will and have some strength in numbers. The have more and more appeal to buyers and in-

brands all had great contact with the buyers, ternational press.” — JEAN E. PALMIERI AP PHOTO/DESMOND BOYLAN PHOTO BY