Em and Leaf ’Em NEW YORK — There’S Nothing Quite Like Taking Natural Forms and Re-Creating Them in Lustrous Gold and Lavish Jewels

CASTAGNA RESIGNS/2 WEAK DOLLAR WOES/16 Women’s Wear Daily • The Retailers’ Daily Newspaper • November 15, 2004 • $2.00

▲ Inside: The WWD WWDMONDAY Business Review. Accessories/Innerwear/Legwear

Love ’Em and Leaf ’Em NEW YORK — There’s nothing quite like taking natural forms and re-creating them in lustrous gold and lavish jewels. So designers are coming up with a new crop of flora and fauna for pendants that swing gently on, or accent long, delicate chains. Here, Vera Wang’s diamond, platinum and 18-karat white gold honeycomb flower necklace, 18-karat gold leaf pendant and chain from Hollis Brooks by Brook Kiner and Burning Torch’s cotton dress. For more long stories, see pages 8 and 9. ASSISTANT TALYA COUSINS TALYA ASSISTANT

Y BROOKE MAGNAGHI; FASHION NATASHA AT WARREN TRICOMI; STYLED B WARREN AT NATASHA Truly Fast Fashion: H&M’s Lagerfeld Line Sells Out in Hours By WWD Staff collection in about half of its 1,000 redirected to the busiest H&M

T WOMEN; HAIR AND MAKEUP BY ass hysteria for Karl. locations. Although the shipments of stores for weekend selling. M That was the situation $49 blouses and $149 wool-cashmere “We’ve been operating this Friday morning at H&M locations in coats were meant to last several business for some 60 years and we’ve the U.S. and Europe as the fashion weeks, most of the merchandise sold never seen anything like it,” said retailer launched its Karl Lagerfeld out by late Friday, with any leftovers See Mad, Page 28 PHOTO BY JOHN AQUINO; MODEL: MONIQUE A PHOTO BY

Fashion Starts Here.

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SOURCES: CONDÉ NAST CIRCULATION DEPARTMENT, FEB 2003-FEB 2005 MEDIAWEEK (JAN - NOV 2003 VS. 2004) 2003: 5 ISSUES, 2004: 9 ISSUES 4 WWD, MONDAY, NOVEMBER 15, 2004 WWW.WWD.COM WWDMONDAY Castagna Exits Penney’s Accessories/Innerwear/Legwear FASHION By David Moin team builder, collaborative and has a balance of merchandising Long necklaces are back for spring in lengths of pearls, diamonds or gold NEW YORK — As expected, and operational skills. 8 with pendants, often with a dangling acorn or clusters of precious stones. Vanessa Castagna, chairman Castagna joined Penney’s as and chief executive officer of executive vice president and J.C. Penney stores, catalogue chief operating officer of its GENERAL and Internet, has decided to stores, merchandising and cata- There was mass hysteria Friday at H&M locations in the U.S. and Europe, leave the company. logue in August 1999, after hav- 1 as it launched the Karl Lagerfeld collection in about half its 1,000 locations. “It was an intense and a diffi- ing served as Wal-Mart’s senior Consumers’ ongoing love affair with luxury goods bolstered top-line and cult decision, but the time is vice president and general mer- 7 bottom-line growth for luxury firms Bulgari and Tod’s SpA. right,” Castagna said Friday, con- chandise manager of women’s. firming a WWD report the day Her appointment marked a de- ACCESSORIES: Jewelry has returned to the spotlight this fall and shows no before that her decision to leave parture from Penney’s usual 10 signs of losing its luster for the spring and summer seasons. was imminent. “They really want- practice of promoting from with- INNERWEAR: The second half of this month’s lingerie market promised a ed me to stay.” Vanessa in its own ranks, and signaled 15 lot of sizzle after a quiet first week, but it generally fizzled out. Ken Hicks, president and chief Castagna that the retailer was serious operating officer of stores and about fixing its women’s business The weakened dollar and the stronger euro are forcing European firms to merchandise operations, will take and ready to battle against mar- 16 raise prices, shore up shrinking margins and hedge their forecasts. on Castagna’s responsibilities as a and Macy’s, got the job. With a ket share winners, such as Target transitional step, the company new leader on board, other exec- and department stores, that were said. Hicks is a member of the utive changes are a possibility. out-promoting Penney’s. EYE company’s executive committee, Castagna, under the terms of Prior to Wal-Mart, Castagna Speaking with Japanese female rock duo Puffy AmiYumi about stardom, and has been with Penney’s since her contract with Penney’s, is free was a gmm at Target and held 6 cracking the U.S. and their new cartoon…a Cinderella story. 2002, coming from Payless Shoe and clear to work with any retail- posts at Federated Department Source, where he was president. er that she finds a job with, and is Stores. The WWD Business Review, a special report, appears on pages 17-26. Before that, he held key merchan- not bound by noncompete restric- “She was there night and day Classified Advertisements ...... 30-31 dise and operational slots at tions companies often write into for Questrom,” observed Walter Home Shopping Network, Foley’s executive contracts. However, Loeb, the retail analyst. “She’s a To e-mail reporters and editors at WWD, the address is Department Stores and May Castagna said she won’t think merchant who effectively execut- [email protected], using the individual’s name. Merchandising Co. about starting a new job until ed Allen’s initiatives. She brought WOMEN’S WEAR DAILY IS A REGISTERED TRADEMARK OF FAIRCHILD PUBLICATIONS, INC. COPYRIGHT ©2004 A search to consider candi- after the holidays and that she a lot to the table at Penney’s, FAIRCHILD PUBLICATIONS, INC. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. dates to succeed the 55-year-old wanted to spend some time relax- based on her experiences at Wal- VOLUME 188, NO. 104. WWD (ISSN # 0149-5380) is published daily except Saturdays, Sundays and holidays, with one additional issue in January, May, June and November; two additional issues in February, April, September, October and December; and three Castagna could begin next ing in Naples, Fla., where she has Mart and Target, where she additional issues in March and August, by Fairchild Publications, Inc., a subsidiary of Advance Publications, Inc. PRINCIPAL OFFICE: 7 month, after Myron Ullman 3rd a home, and visiting friends. shaped the assortments.” West 34th Street, New York, NY 10001. Shared Services provided by Advance Magazine Publishers Inc.: S.I. Newhouse, Jr., Chairman; becomes chairman and ceo of the Castagna is likely to be heavi- “Vanessa has made an impor- Steven T. Florio, Vice Chairman; Charles H. Townsend, C.O.O.; John W. Bellando, Executive Vice-President and C.F.O.; Jill Bright, Executive Vice-President_Human Resources; John Buese, Executive Vice-President_ Chief Information Officer; David Orlin, Senior corporation, succeeding Allen ly recruited, given her experi- tant contribution to J.C. Penney Vice-President_Strategic Sourcing; Robert Bennis, Senior Vice-President_Real Estate; David B. Chemidlin, Senior Vice- Questrom. Castagna, as the num- ence and because there are plen- and its turnaround, and I am President_General Manager, Advance Magazine Group Shared Services Center. Periodicals postage paid at New York, NY and at ber two executive in the depart- ty of struggling retailers in need confident she will excel in what- additional mailing offices. Canada Post Publications Mail Agreement No. 40032712. Canadian Goods and Services Tax Registration No. 88654-9096-RM0001. Canada post return undeliverable Canadian addresses to: 4960-2 Walker Road, Windsor, ON N9A 6J3. ment store chain, had for months of talent. She denied a report ever she does next,” Questrom POSTMASTER: SEND ADDRESS CHANGES TO WOMEN’S WEAR DAILY, P.O. Box 15008, North Hollywood, CA 91615-5008. been a leading candidate to suc- that Kohl’s had previously tried said in a statement. “She has FOR SUBSCRIPTIONS, ADDRESS CHANGES, ADJUSTMENTS, OR BACK ISSUE INQUIRIES: Please write to WOMEN’S WEAR ceed Questrom. But three weeks to lure her, but added that, in the clearly played a pivotal role in DAILY, P.O. Box 15008, North Hollywood, CA 91615-5008; Call 800-289-0273; or visit www.subnow.com/wd . Four weeks is required for change of address. Please give both new and old address as printed on most recent label. First copy of new ago, Penney’s announced that past 10 days, she’s been contact- improving Penney’s merchan- subscription will be mailed within four weeks after receipt of order. Address all editorial, business, and production Ullman, who held top executive ed by several people from big dise, stores and operations, and correspondence to WOMEN’S WEAR DAILY, 7 West 34th Street, New York, NY 10001. For permissions and reprint requests, spots at LVMH Moët Hennessy and small retailers, as well as in- in building a strong manage- please call 212-221-9595 or fax requests to 212-221-9195. Visit us online: www.wwd.com. To subscribe to other Fairchild Louis Vuitton, the DFS Group vestor groups. She’s considered a ment team.” magazines on the World Wide Web, visit www.fairchildpub.com. Occasionally, we make our subscriber list available to carefully screened companies that offer products and services that we believe would interest our readers. If you do not want to receive these offers and/or information, please advise us at P.O. Box 15008, North Hollywood, CA 91615-5008 or call 800-289-0273. WOMEN’S WEAR DAILY IS NOT RESPONSIBLE FOR LOSS, DAMAGE, OR ANY OTHER INJURY TO UNSOLICITED MANUSCRIPTS, UNSOLICITED ART WORK (INCLUDING, BUT NOT LIMITED TO, DRAWINGS, PHOTOGRAPHS, AND 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 Financo Taps William Susman ACCOMPANIED BY A SELF-ADDRESSED OVERNIGHT-DELIVERY RETURN ENVELOPE, POSTAGE PREPAID.

By David Moin “He was the first person I Among the objectives: “To TUESDAY: The Labor Department releases the called after Bill Smith told me move Financo to the next level by October Producer Price Index. NEW YORK — Financo Inc. has he was leaving,” Harrison said. increasing the number of trans- Wal-Mart Stores, J.C. Penney Co., Nordstrom, Saks named former Merrill Lynch in- “I called him the next day. He’s actions done on an annual basis Inc., TJX Cos., Ross Stores, Wilsons Leather and Phil- vestment banker William S. known for getting the deal done.” and increasing the deal size, lips-Van Heusen report third-quarter sales and earnings. Susman as president and chief op- Susman has over 15 years of while maintaining independence Burberry Group reports third-quarter sales. erating officer, WWD has learned. investment banking experience, and the hands-on approach,” Zale Corp. reports first-quarter sales and earnings. Susman becomes the second most recently heading up Merrill Susman said. in command at Financo, the bou- Lynch’s retail and consumer Harrison said he expects in- WEDNESDAY: The Labor Department releases the Octo- tique investment banking firm fo- products investment banking dustry consolidation to acceler- ber Consumer Price Index. cused on the retail and merchan- arm, where he advised such firms ate. “As larger companies become Gap Inc., Limited Brands, Charming Shoppes, Tal- dising sectors and led by Gilbert as Neiman Marcus; Sears, Roe- scarcer, you will see a number of bots, Hot Topic and Too Inc. report third-quarter sales H. Harrison, its chairman, chief buck; Nike, and Target.. midtier companies up for sale and earnings. executive and founder. Prior to Merrill, he was a sen- and new companies emerging. We Dress Barn reports first-quarter sales and earnings. The 40-year-old Susman suc- ior member of the investment will also see private equity firms ceeds Bill Smith, who left last banking team at Salomon Broth- becoming much bigger players.” THURSDAY: Aeropostale, Bon-Ton Stores, Deb Shops, July to partner with venture ers Inc., where he focused on Given the climate for consoli- Dick’s Sporting Goods and Claire’s Stores report third- capitalist Christopher Burch. global transportation clients and dation, Harrison said he’s beefing quarter sales and earnings. Susman will be responsible for was involved in transactions and up his team. “It’s important for me directing all of Financo’s advisory developing client relationships. to bring on young, trained, sea- COMING THISFRIDAY: WEEK Chibimart, Milan (through Nov. 22). services on merger and acquisi- “He’s an experienced deal guy soned investment bankers,” he tions, private capital raising, re- and he knows our industry,” said noted. “Absolutely, we will be hir- structuring and private equity in- Hal Upbin, chairman and ceo of ing at the managing director, di- vesting. He’ll also contribute to Kellwood Co., which on occasion rector and vice president levels.” establishing relationships with has been advised by Susman. Financo has a total of 25 bank- clients and bringing in business, Asked why he decided to shift ing and restructuring profession- In Brief strategic and financing assign- from the world of big financial in- als, and has assembled a pool of ments and executing transactions. stitutions to a boutique banking 18 consultants working on free- ● EVERLAST EXPANSION: Everlast Worldwide Inc., which has firm, Susman replied: “I felt after lance assignments, including the been aggressively expanding overseas, has signed a licensing 15-plus years, I wanted the oppor- recent additions of Hal Kahn, for- agreement with Big Brands, a Johannesburg-based firm, to de- tunity to work in a more hands- mer chairman and ceo of Macy’s velop Everlast apparel in South Africa. The line of women’s, on, entrepreneurial organization, East; Gail Cook, former group men’s and children’s clothing is scheduled to make its debut in and to really be able to make a president at Liz Claiborne; Linda fall 2005. “South Africa is a key growth market for us,” said difference in a company with a Beauchamp, a former Donna George Horowitz, Everlast’s chairman and chief executive offi- very client-centric culture.” Karan and Susan Dell executive, cer. “Boxing is an important sport in South Africa.” Susman acknowledged that, and Alan Kane, a professor of re- after the phone call from Harri- tailing at the Columbia Univer- ● QUIKSILVER FLAGSHIP: Quiksilver Inc., the active outdoor son, he didn’t race to join Finan- sity Graduate School of Business lifestyle brand, will open a two-level, 9,000-square-foot flagship co because he wanted some time and a former retailer. at 519 Broadway in SoHo in June 2005, according to Robert to reflect on his options, and Another Financo unit, the Futterman & Associates, the retail real estate broker represent- Harrison interviewed about 20 Mercantile Capital Partners pri- ing the building owner, C&K Properties. Quiksilver took the other candidates. However, Sus- vate equity fund for investing in ground floor and the basement. The site will be Quiksilver’s sec- man added, “I’ve known Gilbert merchandising companies is ond Manhattan flagship. The first operates in Times Square. for awhile. We have a shared vi- run by Antoine Treuille and sion and a common goal.” Edward Harrison, Gilbert’s son.

6 WWD, MONDAY, NOVEMBER 15, 2004 WWW.WWD.COM

TOP SHOPS: As if these people Alber Elbaz don’t shop enough during the Alber Elbaz day, Wednesday night provided flanked by ample opportunity for the social Marina Rust and fashion sets to check out and Sally the merchandise at their favorite Albemarle, New York department stores. both in Lanvin. At Barneys New York, Alber Elbaz, “the utterly genius designer for the insanely chic,” as the invitation read, palled around with Sally Albemarle, Marina Rust and Behnaz Sarafpour, sporting a new spectacle-free look. “I just got Lasik surgery and this is the first time I’ve had my picture taken without my glasses,” she laughed while trying not to blink as the cameras flashed. A Lanvin trunk show began the following morning and women Puffy AmiYumi and were already gathering in the dressing room during the party their cartoon choosing pieces to buy. “It counterparts, below. counterparts, below. seems like everyone is happy it finally happened for me,” joked Elbaz of his burgeoning fashion-darling status. At the end of day one, Barneys had raked in more than Big in Japan $450,000. A few blocks away, Eleanor Lembo, Ivanka NEW YORK — The lyrics of the Japanese female rock duo Puffy Trump and Zani AmiYumi, at least when translated into English, can be completely Gugelmann turned up at absurd, if they make sense at all. In “Asia No Junshin,” a record that Saks Fifth Avenue in eye® sold more than a million copies in Japan, they sing: “Take every skin-baring Hollywould Behnaz Sarafpour panda/and line them all up/every single white one/Tonight the pure dresses — not exactly Behnaz Sarafpour hearts/are shining so bright/about to burst into flame.” winter-clime wear — to post-Lasik surgery. Their Beatles-meets-Abba bubblegum melodies sung by Ami Onuki of Tokyo and support their friend Holly Yumi Yoshimura of Osaka have made them a huge success, since 1995, in their na- Dunlap’s new line. tive land — another big hit was called “Love So Pure” — but introducing them to Meanwhile, Latin fare was being passed to Natalie Cole,

American audiences has been more difficult. So, taking a cue from “The Yellow Nancy Jarecki and Eva Lorenzotti at Bergdorf Goodman’s STEPHEN SULLIVAN MCMULLAN; BERRY PHOTO BY PATRICK KEITH SMITH; GONZALEZ BY AIDS BY Submarine” and playing on the ardent following of Japanese animé, Cartoon cocktail party for Nancy Gonzalez. Host Dayssi Olarte de Network has turned them into an animated series, “Hi Hi Puffy AmiYumi,” which Kanavos stumbled to a dinner at Mr. Chow for the will debut Friday night. accessories designer on crutches and a single stiletto like a During a 10-minute ride last month in the nondescript Puffy AmiYumi van from real trooper, nicknaming herself “Frankenfoot.” (Cole wasn’t the Gramercy Park Hotel to Webster Hall, where they were playing their one New the only celebrity at the store this week: Katie Holmes York area show, Ami, 29, and Yumi, 30, through a translator, say they love the dropped in Tuesday for a book party for Carolina Herrera.) Japanese master of animé, Hayao Miyazaki, and the Powerpuff Girls. But they With mojitos and Cuban sandwiches on the menu, the never could have imagined they’d be turned into cartoons themselves. mood was equally Latin downtown at the Aid for AIDS gala “I’d think if I were a Powerpuff Girl, I’d be this one or I’d do this,” says Ami. at Capitale. Chelsea Clinton arrived an hour after her Chelsea Clinton and “But I never thought of myself as boyfriend Ian Klaus. “She’s late as usual,” mumbled Klaus Ian Klaus with a cartoon character.” to a friend, as he frantically checked his new, sleek Adriana Cisneros in Aside from an Asian-looking Blackberry 7100t. Klaus was on hand to support Adriana Oscar de la Renta. band manager who recalls Charlie Cisneros, daughter of Patty, a journalism student at New Oscar de la Renta. Chan, the cartoon characters on York University who volunteers with the charity. “The first the show are quite Westernized. year we did this it was at a friend’s loft,” Adriana explained. Mixing elements of “Josie and the “Last year, we had a little more money so we did it at the Pussycats,” “Tiny Toon Puck Building, and this year, we got a little more so we can Adventures” and “Laverne & do it here.” Shirley,” the show chronicles the trials and tribulations of touring Carolina Herrera and Katie Holmes as a rock duo. Save for the variety show-like segments that introduce their real-life counterparts with obvious English misfires, you might think this Ami and Yumi were Caucasian. “I don’t think it’s a straight representation of ourselves, but as animation, it was really funny,” says Yumi. “It may have some essence, but it’s not exactly as we are.” Whether sung in English or in Japanese (most of their tracks are in the latter), their music, at least, is universal. The pair describe their sound as “just really fun.” “We don’t have a specific message,” Yumi says. “We don’t want to preach anything at all.” “It’s not a genre,” Ami adds. “But if you listen to Puffy songs, they will make Dayssi Olarte de Kanavos in you happy.” Jean-Paul Gaultier with And sure enough, later that evening at Webster Hall, the crowd goes wild. Nancy Gonzalez in Lanvin. Though there’s a sizable group of Japanese children with their enthusiastic par- ents, the louder members of the audience are older men who cheer excitedly when STEVE EICHNER; AID FOR BY PARTIES NETWORK; LANVIN AND HERRERA OF CARTOON STILL COURTESY TURNER; CARTOON DAVID PUFFY AMIYUMI BY Yumi announces the Cartoon Network series in broken English. Back in the van, Ami and Yumi say that they don’t see much of a difference be- THE SLIPPER FITS: Sarah Uriarte Berry’s winsome tween American and Japanese audiences. They are just disappointed that they personality and doll-like features make her a perfect don’t have more time to hang out in New York. (They will soon be off to Los Cinderella. Starring opposite Eartha Kitt and Dick Angeles and then San Francisco.) Van Patten in the New York City Opera’s “I want to get off the van right now and shop, shop, shop,” says Ami. presentation of Rodgers and Hammerstein’s “It’s very sad,” Yumi adds about the time constraints. Still, she’s wearing three production, Berry has appeared on Broadway as oversized fabric flowers she’d bought at Urban Outfitters the day before. “Right now Belle in “Beauty and the Beast” and Eponine in “Les I’m into brooches,” she says, gesturing to the flowers. “These things add an accent.” Misérables.” Ever the ingenue, she still has a soft (For the evening’s show, she affixed a full-size mask of a leopard onto her T-shirt.) spot for the underdog and wielded her influence in Being from Japan, Ami and Yumi agree that their favorite designer is Jun changing Cinderella’s stereotypical appearance. “At Takahashi for Undercover, but they’re also into vintage things. Basically anything first, Cinderella was going to be blonde, but once I that’s comfortable, that they can “sit down on the floor in” or “sit on a chair in a started rehearsing I wanted the message to be that nice restaurant.” she was kind of a normal person, not a fancy, glorious But their fashion obsessions can get them into trouble. “We don’t really share blonde beauty,” explains Berry. “I didn’t want her to clothing,” says Ami, “but sometimes we go separately into the same store and buy look like Barbie.” the same things so we come to work wearing the same outfit.” Sarah Uriarte Berry The production runs through Nov. 21 at the New — Marshall Heyman York State Theater at Lincoln Center. WWD, MONDAY, NOVEMBER 15, 2004 7 WWW.WWD.COM Strong Showing for Luxury: Origins Wellness Unit Opens at Macy’s Bulgari, Tod’s Up in Quarter By Diane Dorrans Saeks SAN FRANCISCO — Origins By Luisa Zargani In the third quarter, Bulgari launched its first Walk-in said it spent 20.9 million euros, Wellness center at Macy’s Union MILAN — Consumers’ love af- or $25.6 million, in advertising Square this week. Set in the fair with luxury goods bolstered and promotional expenses, 35 ground-floor cosmetics and fra- top-line and bottom-line growth percent more compared with grance department just inside for luxury firms Bulgari and the same period in 2003. Not the store’s Stockton Street en- Tod’s SpA. taking into account these ex- trance, the 300-square-foot de- For Bulgari, a strong perform- penses, operating costs in the partment offers a menu of multi- ance in its core jewelry and quarter were 70.8 million euros, sensory treatments, facials and watch divisions, along with or $86.6 million, up 5 percent mood boosters. healthy sales in all market areas, compared with 67.5 million The hands-on services selec- especially Japan, pushed net euros, or $82.5 million, in the tion includes Knead it Now neck profits to 28.3 million euros, or same period in 2003. and back massage, which goes for $34.6 million, in the third quarter, Meanwhile, Tod’s SpA attrib- $15 for 15 minutes, and the Heads A look at the interior up 50 percent from 18.9 million uted its 17.6 percent increase in Up head and scalp massage. of Origins’ Walk-in euros, or $23.1 million, in the sales in the first nine months to “Origins has always had a Wellness center. same period the previous year. growth in all brands and all focus on wellness and on multi- PHOTO BY SCOTTIE MORRIS Dollar figures are at the aver- product categories. In particu- sensory treatments,” said Daria like the Knead it Now massage, ucts. Facial beds and massage age exchange rate. lar, Asia showed a robust 62 per- Myers, president of Origins, is $15 for 15 minutes. chairs were custom-designed for Francesco Trapani, chief ex- cent growth. which is owned by the Estée “We introduced new concepts Origins and crafted in Japan. ecutive officer of Bulgari, said in Net profits were in line with Lauder Cos. “Macy’s West has in San Francisco because it’s a Japanese shoji screens surround a phone interview he was “very the same period last year, done so well with services — like place where people are open to the area. Maple wall fixtures and satisfied” with these results, amounting to 22.9 million euros, the BeneFit Brow Bar — that we new ideas and treatments like a pale beige color scheme add to which were “very solid” because or $28.1 million, on sales of 336.8 felt this was a good fit for us.” this,” Bradford contended. “In the relaxing atmosphere. they were achieved through an million euros, or $412.9 million. The concept appears to have our first week, more than 25 The new Origins Walk-in Well- expansion of all product cate- Diego Della Valle, chairman taken off. Soon after the space’s percent of customers are men — ness center is also introducing gories in all markets. He was and managing director of Tod’s, soft opening nearly two weeks triple our usual percentage.” Origins’ Cocoa Therapy Collec- pleased with the company’s in- said in a statement that he was ago, the center was bustling and tion of body butters, salves, a crease in profits and cost-cutting “totally satisfied with the excel- three masseurs and four facial- body-buffing scrub and a strategy, notwithstanding a hefty lent results” of the period. ists performed more than 40 mas- cleanser, which include therapeu- 35 percent increase in ads and “Figures show that sales are ac- sage treatments and other servic- BEAUTY BEAT tic cocoa extracts, cocoa butter communication in the third celerating with respect to the quarter and a still “uncertain first-half results, which were al- and difficult environment.” ready excellent in themselves, Our concept was to make rejuvenating treatments In the third quarter ended confirming the widening success “ Sept. 30, Bulgari’s sales grew 11 of all our products on all markets accessible to everyone for a low cost. percent to 201.6 million euros, or and the major contribution made ” — Joellen Bradford, Origins $246.5 million, compared with by expansion of the directly op- 181.9 million euros, or $222.5 mil- erated store network,” he said. es on Nov. 5. There was an offi- Estée Lauder group compa- and pure cocoa among its ingredi- lion, in the same period of the Earnings before interest, cial opening event last Thursday. nies do not report figures, so ents. Post-massage, customers can previous year, beating analysts’ taxes, depreciation and amorti- “Our concept was to make re- Myers did not offer any projec- stock up on Sensory Therapy Hot expectations. At constant ex- zation grew 18 percent to 72.8 juvenating treatments accessi- tions for the new Walk-in Well- Chocolate Original drink mix, change rates, sales would have million euros, or $93.9 million at ble to everyone for a low cost,” ness center. Industry sources, with added vitamins and miner- grown by 13 percent. constant rates. EBIT grew 20 said Joellen Bradford, vice pres- however, estimated the space als, which Origins claims will Operating profits grew 30 percent to 45.1 million euros, or ident of global marketing for could generate upwards of help fight fatigue and incite feel- percent to 35.2 million euros, or $58.1 million. Profits before Origins. She noted the entry $500,000 within its first year. ings of euphoria. Additionally, $43 million, from 27 million taxes grew 3 percent to 42 mil- price point for services is $15. Customers can book appoint- Origins is teaming up with euros, or $33 million, in the lion euros, or $54.1 million. “This has been an effective way ments or drop in while shopping. Andrew Weil, M.D., an interna- same period the previous year. Europe showed a healthy to introduce new customers to After sipping complimentary tionally recognized authority on At constant exchange rates, performance, posting a 14 per- Origins products,” she added. Origins A Perfect World white tea, integrative medicine, as product jewelry grew 14.5 percent, and cent growth in the first nine “The early product-to-service clients can request an acupres- collaborator and spokesman for a the watch division confirmed the months of the year, not includ- ratio is about 50-50.” sure facial, called Press Release. wellness product line slated to recovery seen in the first half, ing Italy, which grew 14 percent. The department offers a There’s also the Up the Anti fa- launch in late 2005. posting a 24 percent growth. The national market accounts space-age Gloom-Away isolation cial with white tea and the Light Origins products are carried Trapani said this division regis- for 49.1 percent of sales. chamber, which offers vibration, Makes Right blemish-removing in more than 425 department and tered “positive and encouraging The U.S. grew 6 percent at light and sound therapy in a treatment. All services are con- specialty retail stores in the U.S. signs.” Accessories grew 27 per- constant exchange rates. At cur- stress-relief capsule that’s said ducted by aestheticians using and more than 125 of its own cent and fragrances showed a rent exchange rates, sales in the to fight jet lag and stress. That, Origins Beauty Wellness prod- freestanding Origins retail stores. slight loss, a 5 percent drop, as U.S. dropped 4 percent, due to the company compared this per- currency fluctuations. Asia grew formance with an “exceptional” 67.8 percent, at constant rates, 48 percent growth in the same accounting for 11 percent of period the previous year, when sales. At current exchange rates, Ninth China Petition Targets Wool Trousers Bulgari launched Omnia. Asia grew 61.7 percent. Trapani attributed the steady The company said sales WASHINGTON — The coalition of apparel and cotton trousers, knit shirts and blouses, are caus- performance in all market areas through directly operated stores textile groups claiming Chinese imports pose a ing or threaten to cause market disruption. to “the extraordinary strength of were in line with the first-half threat to U.S. production filed its ninth quota CITA determined last year that imports were the brand and to the exceptional performance, and grew 28.6 per- safeguard petition on Friday covering imports of causing market disruption and imposed safe- creativity of all new products.” cent in the first nine months of men’s and boys’ wool trousers, a category that guard quotas on bras, dressing gowns and robes Bulgari is focused on Japan, 2004. Tod’s partly attributed this was valued at $14 million in 2003. and knit fabric. Those categories were all given among other markets, which growth to the opening of 11 China controls a 4.5 percent share of U.S. im- 7.5 percent annual growth caps. The coalition is posted a 32 percent growth, com- stores as compared with the end ports of wool trousers, which represented a 57 planning to file renewals on those categories be- pared with a 23 percent growth of September 2003. During the percent decrease over the last 12 months. In cause the quota limits expire at year’s end. CITA last year. Trapani said this mar- third quarter, the company 2002, the latest figures available, the U.S. pro- recently imposed safeguard quotas on imports of ket still has “a huge growth po- opened two Dev stores in Italy, duced 512,000 dozen men’s and boys’ wool socks from China, capping their growth at 6 per- tential,” and he plans to contin- in Verona and Bolzano; an addi- trousers with an estimated value of $143.4 mil- cent over last year’s trade. ue investments there, following tional Tod’s store in Milan, lo- lion, according to the coalition. Also on Friday, U.S. Trade Representative the opening of the company’s cated in Galleria Vittorio The American Manufacturing Trade Action Robert Zoellick rejected a request by 30 mem- megastore in Osaka earlier this Emanuele, which was inaugu- Coalition, National Council of Textile Organiza- bers of Congress to investigate whether China is month, the 30th and biggest in rated with a cocktail party on tions, SEAMS, UNITE HERE, American Fiber depressing its currency by as much as 40 percent Japan and second-largest in the Thursday, and a new Tod’s store Manufacturers Association and National Cotton and in turn fueling U.S. demand for low-cost world. In 2003, Japan accounted in Osaka, Japan. As of Sept. 30, Council are targeting $1.96 billion in imports from Chinese imports, including apparel and textiles, for 22 percent of company sales. the company counts 104 directly China for continued quota restraints next year in at the expense of American manufacturers. The U.S. grew 17 percent and operated stores and 29 fran- a series of petitions that ask the U.S. government Eight senators, including one Republican, the Far East grew 14 percent. chised stores. During October, to restrain growth of certain categories of goods and 22 Democratic House members said China’s Italy grew 18 percent and two Tod’s franchised stores from the Asian nation. yuan is artificially low and shouldn’t be pegged Europe, currently a sluggish opened in Bangkok and Beijing The interagency Committee for the Implemen- to the dollar. Two of the lawmakers filing the for- market for most luxury goods — Tod’s second in China after tation of Textile Agreements has 15 business days mal request, Sens. Chuck Schumer (D., N.Y.) and companies, showed an 8 percent Shanghai. Next month, the com- to review the petition and determine whether it Lindsey Graham (R., S.C.), are threatening to loss in the period, although pany will open Tod’s first free- meets the merits for a full review. CITA has al- push legislation slapping tariffs of up to 40 per- Bulgari noted that this figure standing flagship store in Tokyo, ready accepted six of the coalition’s petitions for cent on Chinese goods if the yuan isn’t allowed was compared with a significant in Omotesando, in line with a full 60-day review and will investigate whether to float according to world currency markets. 25 percent growth in the third Tod’s strategy to strengthen its the products covered in the petitions, including — Kristi Ellis and Joanna Ramey quarter of 2003. brand image in Asia. 8 WWD, MONDAY, NOVEMBER 15, 2004

▲ Aaron Basha’s 18-karat white gold and diamond chain necklace with cognac and champagne ▲ Mikimoto’s 18-karat diamond briolettes. white gold, South Sea cultured pearl and diamond pendant.

Megan Odabash’s 18-karat gold and tourmaline necklace. ▲

▲ Jill Alberts’

▲ Anthony Nak’s 14-karat framed rose vintage bar quartz drop with pin with pink tourmaline, freshwater rose of France pearl strand. and red fire ▲ Ippolita’s 18-karat gold citrine in chain necklace with a green 18-karat gold. chalcedony pendant. WWD, MONDAY, NOVEMBER 15, 2004 9 WWW.WWD.COM

▲ Doyle & Doyle’s natural pearl and 14-karat gold pendant necklace. ▲ Sharon Alouf’s pearl, ruby and emerald pendant necklace.

Tiffany & Co.’s Legacy

▲ Suzanne Felsen’s diamond and 18-karat platinum gold, fire opal tassel pendant

and diamond ▲ necklace. necklace. Chain of Jewels NEW YORK — They may have been hidden in the vaults of fine jewelry houses everywhere. But no sooner were long necklaces shown on the spring runways, than ▲ Mallary Marks’ out came the new-and-improved versions from designers here. This season, it’s Zircon briolette lengths of pearls, diamonds or gold with the addition of pendants. Swinging gently and 18-karat gold necklace with from these chains might be an acorn, a chandelier or clusters of precious stones. ▲ Finn’s Francesca 18-karat gold Visconti’s shark’s-tooth 18-karat gold necklace with and rock crystal turquoise. acorn pendant. COUSINS TALYA ASSISTANT BROOKE MAGNAGHI; FASHION JOHN AQUINO; STYLED BY PHOTOS BY 10 WWD, MONDAY, NOVEMBER 15, 2004 WWW.WWD.COM Accessories Report Jewelry Charms Spring Bags LeSportsac’s New Tune Trimmed in Leather By Marc Karimzadeh and Emily Holt NEW YORK — To the industry, Tim Schifter is known as NEW YORK — From vintage-inspired cuffs and costume brooches to cocktail the dapper president and rings and statement necklaces, jewelry has clearly taken its turn in the spot- chief executive officer of light this fall. The glittering trend shows no signs of waning for the next LeSportsac. Few realize, spring and summer seasons, which vendors presented during the recent however, that in his free accessories market. time, Schifter has a Necklaces took center stage as designers showed multistrand styles of penchant for music, either delicate chains and charm pendants or big, brightly colored beads. Turquoise and lately he has appeared across the board, from bracelets to button earrings, and often was paired grown particularly with coral. Some vendors continued to include brooches in their spring lines, but oth- fond of Eighties ers felt this fall’s craze for pins may be over come April. music icons such as “Fall is the strongest season we’ve ever had,” said designer RJ Graziano. Duran Duran, Talk “Brooches and vintage looks are seeing insane sell-throughs at retail.” However, Talk, Depeche Mode Graziano forecasted a decline in the brooch’s popularity for spring and an and Thompson Twins. increased interest in layered necklaces, handbag charms and brightly colored So his new LeSportsac raffia beads. “We love multiple necklaces that are new and fun. We’re also doing collection for spring is aptly called Remix. It is

very well with button earrings because they’re different [from chandeliers].” ▼ Furla’s inspired by the Glam Rock era and is a depar- Bold looks were key at Nine West and Judith Jack, both divisions of Jones brooch and ▼ Liz Claiborne’s ture for the company. The nylon collection of Apparel Group. Nine West offered gold cuffs bedecked with large crystal scarf tote. jeweled cuffs. small leather goods, handbags and totes doesn’t stones, while Judith Jack offered cocktail-size dyed white jade feature the label’s repetitive logo and is stones propped in ornate silver settings. trimmed with metallic leather. With jewelry riding on such a high, many handbag vendors have “With the launch of the Gwen Stefani begun to incorporate it into their designs. Furla, among others, L.A.M.B. for LeSportsac collection, we started even went so literal as to attach costume brooches onto its bags. to develop the everyday urban category and we At Sharon G, leather clutches were adorned with dangling are building on that with the Remix collec- strands of carved colored crystals. “It’s a different twist to a tion,” Schifter said. “It has a strong fashion charm,” designer Sharon Goie said. Other designs include vintage- point of view and is less casual.” inspired bags mixing heavy beading and floral tapestry. With no repetitive logo strap, the branding Miniature bags popped up at Sharon G, as well as at Louison and comes with the three enameled charms — a even Juicy Couture, a division of Liz Claiborne Inc., which shrunk LeSportsac logo, the L and a bag charm — three of its signature silhouettes. Juicy also introduced a higher-end attached to the shoulder strap. They are line of evening bags and shoppers that included a satin clutch with strung on a bracelet that can be detached and stones affixed to the outside. worn on the wrist. While color continues to be present in showrooms across Schifter added that the brand has been revi- Manhattan, it seems to be taking a backseat in favor of embellishments talized in the past three years and has tapped like beading, embroidery and studs. Western motifs with whipstitching into a new young customer through its collabo- and rivet detail were seen at vendors such as Dooney & rations with the likes of Stefani, Diane von Bourke and Nine West. Furstenberg and Jonathan Adler. Much of the “I think now the hardware and embellishment is taking over from the increase has been driven by the meteoric growth color,” said Robert Rokoff, creative director of Maxx New York, which of the L.A.M.B. for LeSportsac business. That offered white, black and beige leather bags subtly adorned with clear crys- collaboration will terminate at the end of the tals and metal studs. “Everything jeweled is now important,” he added. year with the holiday collection, and Schifter Designer Helen Welsh showed fedora hats with jewel-like hopes that Remix will make up for it in sales. detachable floral and butterfly pins, as well as a selection of moth- Wholesale price points for Remix range er-of-pearl key charms that adorn solid leather handbags. from $13.75 to $63.50, and the line will start “The stores come in to look for items like purse shipping to LeSportsac’s 25 freestanding bou- charms,” Welsh noted. “It came down the fall tiques and department stores in February. runways in Europe. They [women] may not Schifter declined to give sales projections for want to buy a new handbag, but if you Remix, but said he expects it to approach the just added a charm, you have at least volume of the 2004 Gwen Stefani L.A.M.B. for updated your bag.” LeSportsac collection. “The price points are approximately 20 ▼ Sharon G’s percent lower, and therefore, I expect the clutch with department store door penetration to be larg- crystals. er,” Schifter said. Now that’s music to his ears. — Marc Karimzadeh

▼ RJ Graziano’s handbag charm. ▼ Dooney & Bourke’s Western-inspired bag.

LeSportsac’s Remix line, above and here, favors

▼ Maxx’s riveted dangling logo charms handbag. and leather trimming over the signature repetitive logo. PHOTOS BY THOMAS IANNACCONE Only the genuine Longchamp Pliage never disappoints in any detail.

Longchamp was founded in 1948 and has become synonymous with stylish and innovative bags and accessories. The Longchamp Pliage bag has been a hit since 1993. The Pliage bag is identified by its unique design (something our lawyers call "Trade Dress"). Longchamp controls trademark and trade dress rights in the Pliage bag and will enforce these rights to the fullest extent of the law.

WE INVITE YOU TO CONTACT US TO LEARN HOW TO BECOME AN AUTHORIZED LONGCHAMP DISTRIBUTOR. LONGCHAMP USA - 435A US HIGHWAY 130 NORTH - YARDVILLE, NJ 08620 - PHONE: 609-581-5555 - FAX: 609-581-5559 12 WWD, MONDAY, NOVEMBER 15, 2004 WWW.WWD.COM Accessories/Legwear Report ▼ ▼ DKNY’s tie-back nylon and spandex socks.

Davco’s bow-trimmed cotton, nylon and spandex anklet at Soxland. NEW YORK — Tie one on — that’s the message from legwear designers for spring. Looks that feature lacing, many ending in bows, are bringing a girly feel to the mix.

K. Bell’s charming cotton and nylon anklet features a lacedlaced bow.bow.

Chinese Laundry’s ballerina-inspired cotton, nylon and spandex liner at Soxland. Ta ke a Bow Ta ke a Bow

IN THE BAG: Junior sportswear company FINDINGS Necessary Objects Crown Jeweler Goes for Skull and Crossbones has signed a licensing agreement with Cudlie By Marc Karimzadeh Inc. to produce handbags and small leather goods under the Necessary Objects by Ady NEW YORK — Garrard’s new Yorick collection may not be Queen Gluck-Frankel Handbags label. Elizabeth’s cup of tea, but a rebel prince like Harry could easily The spring collection, which includes pull off the skull necklace or bracelet. items from framed faux-lizard metallic bags Yorick consists of silver or gold necklaces, lariats and bracelets to printed totes that contain matching and each features skulls in various sizes that serve as links. “The umbrellas and raincoats, launched during this skull, the motif in the Yorick line, is the ultimate symbol of rebel- month’s accessories market. Vintage looks lion and rock ’n’ roll, and was the inspiration for this collection,” and clutches in stripes and sherbet colors said Betsy Borkowski, retail manager at the crown jeweler. also will be important. Wholesale prices range With Yorick, Garrard is exploring a pricing and distribution from $6 to $60. strategy. Where once the company targeted the conservative, Necessary Objects launched an intimates stiff-upper-lip set, it now, under the creative direction of Jade line last year under a license with International Jagger (daughter of Mick), is hoping to add a younger, more cut- Intimates, and there are plans to expand into ting-edge audience. To that end, Yorick will be priced lower than other fashion categories. Garrard’s other collections, which range from $1,500 to as high as $250,000. It retails from $170 for a silver Yorick bracelet to $1,400 JONES LETS GO: The ties between Jones for a large silver necklace, while the gold assortment is priced Apparel Group and Esprit look set to be cut from $450 to $7,250. loose earlier than anticipated. According to With the Yorick collection, Garrard will target wholesale distri- sources familiar with the situation, Jones, bution at stores such as Jeffrey in New York and Atlanta and which manufactures licensed Esprit women’s Maxfield in Los Angeles. For the moment, it’s exclusive to the footwear, luggage, handbags and small New York Garrard salon at 133 Spring Street, but is expected to leather goods through its Nine West division, reach the other stores come spring. In recent months, Garrard has is prematurely terminating its deal with Esprit opened some wholesale accounts. as a result of disappointing sales. Jones Last month, the A&G Group, Asprey and Garrard’s parent, re- obtained the exclusive license in July 2002, ported a 74 percent increase in sales to $22 million for the six- with Esprit Europe, a subsidiary of Esprit month period ended Sept. 30 and a major rollout plan in markets Holdings Ltd. Nine West launched a licensed including Japan and Russia. By the end of 2005, Asprey and Esprit handbag collection with eight groups in Garrard will have opened 15 new doors — 10 for Asprey and five November 2002 for spring 2003 selling. On for Garrard — in the U.K., Japan, Dubai, Moscow, Hong Kong and average, the bags retailed from about $30 to Kuala Lumpur, Malaysia. Last September, Garrard opened a suite A group of $42 and targeted distribution to department in Tokyo, and two more units are planned to open in Japan in the skull store main floors, retail specialty stores and next five years. Garrard is also expected to open a 700-square-foot necklaces other direct-to-consumer channels in the U.S. store in Moscow next month. from and in Puerto Rico. “This range is lower [in price] than other Garrard lines, and Garrard’s The agreement was scheduled to expire will make Yorick accessible to a younger client that can buy into Yorick Dec. 31, 2007, with the option to renew if the brand and grow into the more classic pieces offered in our collection. sales levels were met. Spokesmen for Jones other lines,” said Borkowski. and Esprit declined to comment. SOCKS PHOTOS BY TALAYA CENTENO; MODEL: BRUNA CORREA RODRIGUES/SUPREME; STYLED BY DANIELA GILBERT CENTENO; MODEL: BRUNA CORREA RODRIGUES/SUPREME; STYLED BY TALAYA SOCKS PHOTOS BY

14 WWD, MONDAY, NOVEMBER 15, 2004 WWW.WWD.COM Fine Jewelry Report Timepieces for High Rollers iBy Marc Karimzadeh NEW YORK — It’s easy to lose one’s sense of time in Las Vegas. Nights seem like days in the glaring lights of the Strip, while days could just as well be nights in clock-less casinos. But that should no longer be as much of a problem now that Tourneau has landed with a mammoth thud. On Nov. 4, the watch retailer opened the doors to Time Dome, an almost 18,000-square-foot watch empori- um at the Forum Shops in Caesars Palace in Las Vegas, where it had a smaller unit. The newest addition to Tourneau’s growing retail chain will surpass its 16,000- square-foot 57th Street Time Machine here as the largest watch store in the world and likely will secure a special place in the “Guinness Book of World Records.” The Las Vegas opening comes at a time of heavy expansion for the privately held watch retailer, which was founded in 1900, and will count 26 stores nationwide with this week’s scheduled opening of a 1,500-square-foot unit in Alexandra, Va. This week also will see the publication of Tourneau Times, a joint venture with Jason Binn’s Niche Media LLC, publisher of Gotham and Hamptons. Tourneau plans to open stores at The Westchester in White Plains, N.Y., and in Atlantic City, N.J., next year, and build its assortment of private label merchandise, which now includes watches, fine jewelry and sunglasses. The new Las Vegas store is located in the original Forum Shops (the mall recently added a 175,000- square-foot wing). “The shoppers that come to the Forum Shops originate from all our markets,” Andrew Block, senior vice president of marketing, said of the decision to open Time Dome in Las Tourneau’s Time Dome superstore at the Forum Shops, above. Tourneau Times, left, launches this week. Vegas. “They are from California, New York, Florida, Texas, Tag Heuer, Movado, Rado, Ebel, store is a major store, not only for the jewelry and watch Chicago…areas where we have Concord, Raymond Weil, Jaeger- industry in America, but also for the world. This is a very existing stores.” Also, he added, LeCoultre, IWC, Breguet and smart move by Tourneau to build the watch market in “The Forum Shops has the highest Blancpain. Each brand will incorpo- America, which is underdeveloped. It combines the diver- dollar-per-square-foot sales of any rate its look into a specific boutique sity of the watches, the depth of the assortment and the mall. The amount of traffic every day is 50,000 to 60,000, with special features. Case in point: The Tag Heuer expertise of the salespeople in a hugely trafficked envi- so when we looked for a location for another Time space offers an Indy 500 racing simulator and a Tiger ronment that can convert people to watches. ‘Sex and the Machine, the only city really could be Las Vegas.” Woods golf simulator with interactive flat screens — a City’ has converted America to handbags and shoes — To give Las Vegas a store worthy of its Sin City repu- suitable interlude for the typical Vegas visitor. maybe Tourneau will convince America to buy watches.” tation, Tourneau went all out. The store was designed “Tourneau’s watch store concepts are really important Coinciding with the opening is the launch issue of like an amphitheater with a huge, 38-foot-high dome because of their width and depth,” said Daniel Lalonde, Tourneau Times, a consumer magazine about the watch- hovering above the main floor. There are two levels president and chief executive officer at LVMH Watch & owning lifestyle. The 80-page magazine will be distributed beneath the mezzanine. Jewelry North America, which owns brands such as Tag to Tourneau stores and mailed to special customers. “Our challenge was to create a space that looked like Heuer, Christian Dior Watches and Zenith. “Our industry “We are bringing the everyday reader a look into Las Vegas, but retained our identity as a retailer and at needs a concept like that. In many other sectors, you typ- watches…who is wearing what with stories on the faces the same time incorporated the brand identity of our ically have these types of stores that carry most lines. behind the names on the watch dials, like Jack Heuer, brand partners,” explained Block. Here, we can show more facets of our brands.” Yves Piaget and Raymond Weil,” Block said. To that end, customers will find brand-specific shop- Stanislas de Quercize, president and chief executive The company also has been building its assortment of in-shops by the likes of Cartier, Omega, Rolex, Breitling, officer of Cartier in North America, concurred. “This new private label, some of which is licensed. Earlier this year, it launched a collection of 18-karat yellow white gold, platinum and diamond jewelry in a licensing deal with Tourneau’s new Dutyfree Holdings Inc. and its FDD Ltd. affiliate. Tourneau store is topped with also has an agreement with Tura L.P. for eyewear, including a massive dome. sunglasses. Tourneau watches are manufactured in-house. “In the near future, we are thinking of leather goods, fragrance and the possibility of wholesaling Tourneau watches,” Block said. “Consumers recognize the Tourneau name as a brand. If you take a random sam- pling on the street, they will either think of it as a brand or as a retailer of other brands. Given that strength, it’s an obvious decision to expand upon the brand name.” Besides the U.S., the watch retailer is making a push into the Caribbean market. The first Tourneau store will open at the Our Lucaya Resort in Freeport in Grand Bahama, Bahamas, in January. Two additional stores are scheduled to open in Barbados in 2006. “Eighty percent of the people who visit the Caribbean are American tourists,” Block said. “They recognize us, have a vacation attitude and like to spend money.” Block wouldn’t disclose sales projections or overall volume for the company. Industry sources estimate Tourneau’s sales at more than $200 million. Block declined to comment on the figure, but said: “We are about 25 percent ahead of last year. We anticipate the Vegas store to do twice the volume of the Time Machine in New York. The watch business is pretty strong. The weak dollar has Americans purchasing at home and not spending money overseas. Secondly, the luxury sector is very strong. There is money to be spent and they are spending.” Early indications underscore Block’s claim. “The Forum Shops open at 10 a.m.,” he recalled of the first day the Las Vegas unit opened. “At 10, we opened the gates and people were already waiting. By 10:05, we had already sold two Fendi watches.” WWD, MONDAY, NOVEMBER 15, 2004 15 WWW.WWD.COM Innerwear Report

Vassarette’s Real Sexy brand will be expanded into Cautious Mood Permeates sleepwear. Spring-Summer Market

By Karyn Monget Natori Black Label’s dual- NEW YORK — The second half of this month’s official purpose feather- lingerie market could be compared with a motion-pic- pattern bra at ture sequel that promises a lot of sizzle at the box office Dana-Co. but quickly fizzles out. November traditionally is a small market that focuses primarily on finalizing spring buys, planning programs for Mother’s Day and strategizing marketing and advertising campaigns. In some cases, it’s also a time to preview concepts and ideas for fall 2005 as well as Valentine’s Day gift ideas. But Election Day jitters teamed with a difficult economy and retail season changed the dynamics of the two-week market, which typically draws consistent traffic during good times and bad. There was initially much talk and fanfare among manufacturers about a larger second-week turnout, especially from scores of specialty boutiques and out-of-town retailers. However, the reality was it ended up a smaller market than usual, even though vendors generally insisted they were pleased with bookings. Also coming into play was a complaint from several resources, who privately blamed a rocky election year and angst over the Iraq war for impacting the buying habits of consumers and the decision-making of some retailers when it came to trends, product and styles. Vassarette Enters Sleepwear Sizing up the overall mood of the market, Kim NEW YORK — VF Corp.’s Global Intimate Apparel Coalition has Scheffler, intimate apparel business manager at Invista signed a licensing agreement with NAP Inc. to produce a collection Inc., observed there was a general uncertainty on the Lemon Tart’s of sleepwear, robes and loungewear bearing the Vassarette label. part of some retailers who showed up, while others romantic lace The line will be shown in January for fall 2005 selling. It will hadn’t lost their focus. cover-up. be the first foray into sleepwear for the 50-year-old Vassarette “There were some retailers like Soma at Chico’s and name, a well-known foundations brand in mass channels includ- Gap Body who had a clear image of who their cus- ing Wal-Mart, Kmart, Target and ShopKo, which generates whole- tomers are. Then there were others who seemed to be sale volume of more than $200 million annually, according to trying to be all things to all people. To that extent, they industry estimates. weren’t sure what they were looking for,” said Scheffler. Officials at VF and NAP would not give a first-year sales pro- From a retailer’s perspective, Mary Krug, vice presi- jection for the licensed line. However, the high-volume Vassarette dent and general merchandise manager of intimate appar- label could generate first-year wholesale sales of $10 million to el and hosiery at Neiman Marcus, said: “We came after $15 million, industry experts said. Election Day because we wanted to be here [in Dallas] to “Sleepwear, robes and loungewear is going to be a big category for vote. I assumed it would have been very busy the second Vassarette,’’ said Debra Welsh, vice president of licensing for VF’s week because the first week wasn’t. But it actually was intimates coalition. “It follows the strategy of our chief executive offi- very quiet and we got lots of attention, which we liked.” cer, Mackey McDonald, to grow lifestyle brands and initiatives.” Regarding the effect of the political climate on buying Welsh described Vassarette as “the Victoria’s Secret of mass patterns, Krug said, “I think there’s been a lot of uncer- channels — a sexy, fun brand.” She said the consumer profile of tainty before, during and after the election, and the dead the woman who buys Victoria’s Secret bras is similar to that of a heat between the two candidates. It might have affected woman who buys a new updated bra brand by Vassarette called business a little. But you can’t be everything to every- Real Sexy. The Real Sexy label was introduced this fall. Both the body. You have to zero in on your customer.” foundations and sleepwear will be merchandised and marketed Elaine Lee, president and chief operating officer of under three themes: Foxy Lady, Modern Romantic and Girls Rule. Richard Leeds International, noted, “We went to the “Foxy Lady’s role model could be Christina Aguilera, while retailers who didn’t come in. There’s no question retail- Kirsten Dunst represents a Modern Romantic and Angelina Jolie ers are being more cautious and they want to buy clos- serves as a role model for Girls Rule,” Welsh said. er to delivery. The buying habits have been very cau- Regarding styling and fabrics, Victor Lee, president of NAP, tious on every tier of distribution from mass merchants said: “We’ll be looking at lots of soft, Modal-like fabrics, and we’ll to department stores. Barbie’s updated be using our substantial fabric resource development to come up “Inventory levels are very high right now, and all contemporary with great, drapable fabrics.” He added that the line will feature retailers are trying to figure out where their niche is. We sleepwear at fashion colors as well as a mix of core traditional looks, such as put out trends for them and watch what’s selling on their Richard Leeds. chemises and T-shirts, and embellished fashion items. selling floors. Everything vintage and feminine-looking “The sleepwear and loungewear will retail around $10 to $18, is selling. Retailers hear it, but they also want to see it “Lee said. “We also plan to do plus sizes up to 3X.” selling on the floor before making decisions,” said Lee. — K.M. “Another consistent takeaway from this market is people are definitely interested in products that convey a young attitude, but not necessarily junior,” she added. “Fresh, new and femme is what retailers are looking for, like our Barbie license that appeals to young consumers and those who played with Barbie dolls when they were young. And French Jenny sleepwear and daywear, which has a fresh, contemporary look.” Representing a designer’s viewpoint, Stan Herman, president of the Council of Fashion Designers of America and designer of sleepwear and loungewear that bears his name at Carole Hochman Inc., said: “I’ve never seen a polarized nation like this before. It has to affect people’s buying patterns and stores’ plan patterns. But at the same time, my business on QVC has been terrific. I believe people are staying at home more and not going to stores as much.” “Retailers are having an extremely difficult time right now not only because of the politics of the country but with intense competition in finding a miracle item,” said Flora Nikrooz, designer of sleepwear and daywear by Flora Nikrooz and Intimates by Flora at Age Group. “Some retailers are definitely very directed, but others are very fuzzy about what they want. We’re trying hard-

er to pinpoint trends for them.” ERICKSEN KYLE PHOTOS BY 16 WWD, MONDAY, NOVEMBER 15, 2004 WWW.WWD.COM European Firms Grapple With Weak Dollar By WWD Staff market share,” said Santo Versace, chairman of Versace. “If the markets allow you to alter prices, only then can you alter them.” LONDON — The increasingly feeble dollar and the mighty euro are forcing Europe’s Marzotto is trying to cope without resorting to hedging. “We don’t execute a specu- fashion, luxury and textile companies to raise retail prices, shore up their shrinking lative policy on currencies. That won’t change. Pricing is the only instrument we margins and hedge, hedge, hedge. have. For us it is rather worrying. The dollar area represents a very large chunk of The dollar has reached new lows against the euro and the pound, closing against our revenue,” said Matteo Marzotto, general director of Valentino and co-general di- the euro at 1.2967 on Friday. Overall, the dollar is down 11 percent against the rector of Marzotto’s apparel division. European currency in the first half. He added the company was trying to minimize price increases, but he couldn’t “We cannot keep squeezing our gross margins,” said Ralph Toledano, president of quantify by how much. Chloé, which to date has absorbed about half Another company with a large U.S. busi- of the losses from currency fluctuations. ness is Escada, which is another fashion firm Toledano said there have been price increas- that resorts to hedging. Georg Kellinghusen, es, especially for permanent and more basic chief financial officer of the Escada Group, items. He said further increases in the euro said that, with the U.S. market generating will be passed on, in part, to consumers. about 30 percent of Escada’s turnover, the Burberry is another company that has strong euro is an issue. “But it’s not a top been forced to raise prices over the past year problem, he emphasized, “because we are due to the weak dollar. Burberry’s prices hedged until the end of 2005.” have risen by 6 to 8 percent year-over-year He said Escada’s practice is to start hedg- due to the currency fluctuations. ing as soon as U.S. orders come in — one year “We don’t like to take prices up if we don’t in advance — so the company has a base for its have to, but maintaining margins is an impor- calculations. “We don’t speculate,” tant objective,” said a company spokesman. “So Kellinghusen added. “The dollar may improve, you try to do things cheaper by working with but we don’t want to be [negatively] surprised.” Lawrence de Paris, president and ceo of Escada USA, said there were no price hikes The positive thing is in 2004, but that there will be “some meas- “ ured price increases in 2005 in response to that, when you have a the exchange rates. But we haven’t passed it all along to the consumer. We tend to look at great item, price doesn’t the market and where we want to be and price accordingly,” he said. matter. So far, we haven’t He said there’s been no negative reaction at all at trunk shows for next season. “We’re had a problem. not selling basics,” he explained, “and the — Ralph” Toledano, Chloé Escada product is so luxurious for spring.” Indeed, while the weak dollar may be a suppliers and manufacturers and by hedging.” drag on prices and margins, it’s not keeping Burberry locks in dollar-pound exchange company managers awake at night. “We’re all rates six to nine months in advance of paying in the same boat, and we can’t do anything for goods and services. “Through dollar-ster- about it,” said the Burberry spokesman. ling hedging, we’re generally better able to Companies are also confident that their prod- smooth or absorb any potential price increas- ucts will continue to win over the consumer. es that would be passed on to the consumer,” “When the Americans come to Europe, he added. they’re looking for something special,” said Bulgari, too, makes a habit of hedging. Chloé’s Toledano. “The positive thing is that, Francesco Trapani, chief executive of the when you have a great item, price doesn’t Rome-based luxury jeweler, said the compa- matter. So far, we haven’t had a problem.” ny traditionally hedges against currency fluc- “If a consumer already has the ability to tuations eight to nine months ahead of time. buy certain [luxury] brands, she won’t have a But Bulgari also benefits from a weaker real problem with the increase in prices,” dollar since it buys raw materials such as di- said Moritz Mantero, chief executive of the amonds and gold in dollars. Those savings Italian silk firm Mantero Seta SpA. help compensate for the negative effects of a “Yet the consumers who had to make cer- strong euro-to-dollar exchange rate. tain sacrifices to buy such brands probably “We have traditionally been one of the companies that has been the least affected will think twice now,” added Mantero, who has increased prices 10 to 12 percent over by the issue,” said Trapani, adding that, until now, Bulgari has not increased prices in the past two years. the U.S. But he cannot rule it out for the future. On the flip side, the weak dollar is a boon for some companies. “We benefit from Hugo Boss also is able to take advantage of the weak dollar. “We produce most of the strong euro, as the majority of our production is done in Asia — that is in dollar- the merchandise for the American market at our production site in Cleveland, so the denominated countries,” said a spokeswoman for Adidas, adding the group also dollar doesn’t affect us that much. Our American prices didn’t rise in the past and hedges foreign currency risks typically up to 15 to 18 months in advance. won’t rise,” said a spokesman. Allyson Stewart-Allen, a director of International Marketing Partners Ltd., a He added that Boss could tolerate the currency fluctuations. As for fabric sourcing London-based consultancy, said companies that produce in the U.S. or Asia and sell in Europe, he said: “We’re hedged, so it’s not such a drastic picture as it is for others.” in Europe are playing the weak dollar to their full advantage. “There is no trickle- Versace is another company that is planning to hold its prices despite the weak down effect from the weak dollar over here, as companies like the Gap and H&M are dollar because it wants to remain competitive. “You need to be careful to protect your not lowering their prices — even though they can afford to,” she said.

Obituary Geox Sets IPO With 65M Shares Mary Vinson, Owned Island Trading By Luisa Zargani northeast of Italy, now counts 5,000 direct and indi- NEW YORK — Mary Vinson, a designer of apparel and home rect employees, and it lists a network of around goods who was also an owner of the Island Trading Co. store, MILAN — Italian footwear company Geox will 240 brand stores and more than 8,000 points of sale died Nov. 8. She was 49. kick off its initial public offering today, with up worldwide. The company invests more than 10 per- The cause of death was multiple myeloma, a cancer of the plas- to 65 million shares available. cent of turnover in marketing and communication. ma cell, according to her husband, Chris Blackwell. Geox will be listed on the Milan Stock One concept lies behind its success: “the shoe Vinson was born in Courtland, Va., and was a graduate of Par- Exchange beginning Dec. 1. While the definitive that breathes” — a marketing catch, but also a sons School of Design in Manhattan. She was working as an inde- price has yet to be confirmed, press reports in true reflection of the company’s trademarked pendent stylist when she met Blackwell, founder of Island Italy place it between 3.60 euros and 4.80 euros, technology that reduces foot perspiration. “Geox Records, which counts Bon Jovi and Portishead among its artists, or $4.60 to $6.10 at current exchange. is not a shoe brand — there are so many of and the Island Outpost resorts. The founding Polegato family will sell 56.5 those….This is a technological company, where In the early Nineties, Vinson sold her colorful designs through million shares, while the remainder will be projects and technology are applied to the shoe,” Island Trading Co., which had a store in SoHo and later in Miami’s new issues. said founder Moretti Polegato in an interview ear- South Beach. Vinson and Blackwell were partners in the store. Geox, which was founded in 1995, has registered lier this year. “We solve a common foot problem, Vinson bought fabrics in travels to Jamaica, Bali and Africa. an impressive and steady growth over the past but we are the only ones to have this technology.” “I love fabrics, it’s the one thing I can’t compromise on,” eight years, reporting net profits of 30.7 million In March, Geox opened a brand store in New Vinson told WWD in 1994. euros, or $39.3 million, in 2003, and sales of 254 mil- Yo rk’s Madison Avenue. In the U.S., the collec- More recently, Vinson designed high-end housewares for her lion euros, or $325.1 million, up 40 percent from the tion also is available at Nordstrom and Dillard’s. Royal Hut collection, which was sold at her showroom and store previous year. In the first nine months of 2004, Geox Geox shoes retail at around $100. of the same name on Manhattan’s East 59th Street. reported net profits of 56.3 million euros, or $72 Production is outsourced to factories around Vinson and Blackwell were married in 1998. She had homes in million, on sales of 314.5 million euros, or $402.5 the world, and shoes are assembled outside Italy Manhattan, Jamaica and the Bahamas. She is survived by million, up 32.4 percent year-on-year. in Eastern Europe, the Far East and Brazil, Blackwell, three brothers and one sister. The company, based in Montebelluna, in the among other locations. PHOTO BY WHITEHURST/CORBIS WILLIAM THETHE WWD WWD BUSINESS REVIEW

THE RETAILERS’ DAILY NEWSPAPER NOVEMBER 15, 2004

LET’S MAKE A DEAL Fa shion Retailing Enters New Era Chasing Comps: The Saga of Same-Store Sales Retail Sales Training: Developing Better Employees { Credit Check: Factoring in the Worthiness } THE WWD BUSINESS { COVER STORY

{ BY VICKI M. YOUNG ERA OF THE NEW DEAL MONEY TALKS

ILLUSTRATIONS BY MATT COLLINS

oney, money, money/always sunny/in the rich man’s world” are lyrics from an concept. And, while there can be debate over how many more flagships, and Co- Abba song that describes a working stiff’s dream of riches. ops, the business can support, it does benefit from the tailwinds of a continuing “ And suddenly in the world of fashion and retailing, there’s more money than boom in luxury goods. ever. One estimate places the amount of private equity available at more than $100 A retailer such as Fortunoff faces the same question: How many Fortunoffs can billion. Hedge funds, investment banks and strategic players are all awash in cold the market support, and in which geographic locations? While Apollo Management M hard cash — and they’re looking to spend it. Even better, it’s a buyers’ market and had been a leading contender, its bid — financial firms can be notoriously cheap — they can afford to be choosy about which properties they snap up. isn’t likely to satisfy the $250 million the Fortunoff family is reportedly seeking. This year alone has seen major deals to buy Mervyn’s, Marshall Field’s, Ocean Paul Altman, vice president at investment banking firm The Sage Group, ob- Pacific, Mudd, Maidenform, Tumi and, just last week, Barneys New York. And serves: “The financial buyers won’t replace your strategic buyers, but they are get- there are plenty more companies looking for similar deals. ting more comfortable in purchasing retail and apparel firms. However, in gener- Industry giants such as Jones Apparel Group, Kellwood Co., Liz Claiborne, al, you can almost always expect the strategic player to pay more because of syner- VF Corp. and Warnaco Group are always on the prowl for the right fit. But increas- gies that are brought to the table.” ingly, these fashion suppliers are competing against financial players — mostly pri- The problem for some sellers is that many of the strategic buyers these days are vate equity firms — such as Apollo Management, Bain Capital, Kohlberg Kravis window shopping, walking away from opportunities for one reason or another. Roberts & Co., Sun Capital Partners and Vestar Capital Partners, to name a few. That should, one would think, leave the door wide open for financial players to While small fashion firms such as Jill Stuart and Nanette Lepore are exploring move in for the buy. various avenues and opportunities, the deals more likely to get completed sooner Think again. rather than later are those that have an established brand presence and potential Eddie Bauer, whose parent is bankrupt Spiegel Inc., has been on the auction for growth. block for several months now, with no signs of a buyer in view. Several financial Ta ke Barneys: Last week, Jones added luxury to its holdings by inking a $400 firms — Apollo, Bain and Cerberus Capital Management — spent considerable million deal to buy the tony chain. Barneys was on the market for a mere four and a time conducting due diligence, and bids were submitted in August, but a deal isn’t half months, but it has an established flagship business and an expanding Co-op likely to happen anytime soon. Last week, Spiegel began telling potential bidders 18 MONDAY, NOVEMBER 15, 2004 not to bother submitting offers because Peter J. Solomon, of the investment uity market returns are two of the rea- for the economic cycle.” Consequently, it was going to instead file a plan of reor- banking firm that bears his name. sons why money is flowing out of the tra- as people believe that a rebound is oc- ganization for the retailer. That could So where is all this money coming ditional investment vehicles. curring, they’ll target investments in the change, but only if Spiegel gets an offer from? And how long will the trend con- “Many of these funds, particularly sector to take advantage of early eco- for substantially more than what’s been tinue? pensions, have fixed obligations that are nomic strengths, he explains. put on the table so far. Early in the sale According to David Mussafer, man- required to be paid each year. As man- Of course, private equity firms al- process, analysts believed that Eddie aging director at Advent International agers put an asset allocation model to- ways have been active in retail and ap- Bauer could fetch the $1 billion that Corp., “The flow of capital into private gether, what they try to do is figure out parel. For example, Vestar’s past and cur- Spiegel wanted, but that was before all equity and hedge funds will continue to what type of asset mix is needed to reach rent investments include Avondale the would-be strategic buyers walked. be very robust. Many of the larger pen- an overall return goal of 8 or 9 percent. Mills, Sun Apparel Inc. and St. John With just financial players in the game, a sion funds, foundations and endow- Because of the returns from traditional Knits. Palladin Group has been active as bid in the $675 million range was far ments are targeting a bigger portion of investments, they have been looking at a financial adviser to Jones with its ac- lower than what was hoped. their investments into higher-yielding increasing their exposure to private equi- quisition of Nine West Group in 1999 Casual Corner, newly listed, also might categories. What is occurring is that ty and hedge funds to reach those return and Sun Apparel in 1998, and later as in- find itself in a waiting pattern for an unde- those funds are being shifted toward pri- thresholds to avoid being underfund- vestors in Spencer Gifts and Restoration termined period of time, despite a real es- vate equity and hedge funds.” ed,” says Mussafer. Hardware Inc. tate portfolio of still-decent store sites. A Mussafer explains that a “dramatic He also expects continued interest in For Richard Baker, president of source said apparel giants Liz Claiborne, decline in certain bond yields” and the retail and apparel, mostly because the Ocean Pacific Apparel Co., there are Jones and Kellwood were given the book, lower overall expectations for public eq- sector is considered a “leading indicator CONTINUED ON PAGE 21 or sales prospectus, as well as certain financial firms that would be able to uti- lize the retailer’s extensive real estate portfolio. So far, no one has submitted any bids, the source said. GO•UP And Donna Karan — which LVMH Moët Hennessy Louis Vuitton bought in 2000 for $645 million ($450 million for Gabrielle Studio, the privately held licensor of the Donna Karan trademarks, and $195 million for Donna Karan International, the publicly held company) — is one brand the French group reportedly might consider selling at the right price. The problem is that no one expects LVMH to recoup its purchase price, not even from the deep pockets of financial buyers. Then, of course, there is the conun- drum of a playing field comprising primarily financial buyers. The funds are sitting on more cash than opportunities and have the pressure of putting that jingle-jangle to work. Many times, the deep pockets stay closed, and often it’s because they don’t want to pay a lot for what they do buy. A new player in town these days is I demand. the so-called hedge fund, a breed of investment firm that no longer really “hedges” in the true sense of the word, but takes a stake in a sector and holds onto the investment for an undeter- mined period of time. Think Edward Lampert of ESL Investments, which has stakes in Kmart, Sears, Auto Nation and Auto Zone. “These guys have more money than they know what to do with. Some are my clients, using my research to make decisions by looking at 100 to 150 data points. But many also don’t even bother to go into the malls, even though they really should get a look at the product if they’re going to make an investment in fashion. There’s a $200 billion hedge fund that made a $50 million investment in a footwear firm, and has another $100 million pouring in that it has to figure where to invest that new money,” says Dan Hess, a former retailing executive who founded Merchant Forecasts, a market research firm. “The guys at the hedge funds, in I make a value choice. particular, are terrified. The problem I prefer garments made using is that they don’t know where they fabrics and yarns labelled can get an edge or where to go to get "BIELLA The Art of Excellence." better [investment] ideas. And The mark of excellence which embodies the best they’ve got all this money that keeps of style combined with attentiveness to health and wellbeing. www.biellatheartofexcellence.com flowing into the funds. Their big problem is that they don’t know how Chosen by: Lanificio Ermenegildo Zegna & Figli - Botto Giuseppe & Figli - Tonella - Tintoria Finissaggio 2000 - Lanificio Fratelli Cerruti Ing. 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MONDAY, NOVEMBER 15, 2004 MONDAY, CHASING COMPS BY MEREDITH DERBY WALL STREET’S FIXATION WITH SAME-STORE SALES BEGAN MORE THAN TWO DECADES AGO. WITHOUT STANDARDIZATION, ARE COMPS AN EXERCISE IN FAITH, SCIENCE OR A FALSE IDOL?

n the first Thursday of the month, hordes of retail “I felt they might be in trouble,” said Gallagher, now a and compare sales on an historical basis, often going back executives rise at dawn to complete a ritual they like- managing partner at Oak Investment Partners, a venture cap- five to six years. ly feel compelled to do: releasing the latest month’s ital firm. W.T. Grant would later file for bankruptcy, becom- For Hoffman, comps can be a good indicator of customer same-store sales figures. ing one of the largest failures in retail history. loyalty, which she called “the single most important measure” For Wall Street, digesting monthly same-store Knowing that it takes newer stores at least a year to for retailers. sales reports has become an obsession, one that is mature, Gallagher contacted W.T. Grant’s chief financial offi- Same-store sales, to some extent, also measure market molding the way retailers manage their companies. cer and asked how sales at older stores had been doing. share between channels. But comps may be a flawed measure Most retailers hate chasing comps. And compli- “He said: ‘We don’t know that number, and we don’t when it comes to showing the true health of a retailer. O cating the metric’s usefulness is that there are no sin- think it would be useful for you to know,’” Gallagher Gallagher echoed the view of many analysts: “Today, it is over- gle set of standards to measure same-store sales. recalled. So Gallagher concocted his own estimates, which used. [Comps are] very useful, but it has to be a balance of But this compulsion over comps is not going away because “showed that W.T. Grant was having substantial declines in good analysis with other things. And too often it’s used in a it is driven by the fact that same-store sales are the earliest same-store sales….That was the genesis.” He subsequently way that is too simplistic.” indicator of retail chains’ momentum, or lack thereof. Same- Roizen said, for example, that even though comps could store sales are released a week to two weeks before govern- be skyrocketing, it doesn’t indicate financial strength. The ment-issued retail and consumer consumption reports, all of KEY TAKE AWAYS increases “could be fueled by heavy discounting, and you which feature data from the prior month. Especially during might not know about that until the quarterly report.” the pivotal holiday and back-to-school months, analysts can’t ✱ Retailers report same-store or comparable-store sales, That’s partly why Urban Outfitters Inc. doesn’t report restrain themselves from eating up this data. “comps” for short, on the ﬁrst Thursday of every month. monthly comps — even though its rivals, like American Same-store sales, or comps, measure the percentage Eagle Outfitters Inc., do. Urban Outfitters’ cfo, John Keyes, ✱ change in sales for a month over the comparable period a year Same-store sales measure the year over year percent said in an interview that issuing a monthly sales report “does- ago, usually at stores that have been open at least a year. The change of a store opened at least one year. n’t really make sense to us” because “a retailer can take mark- prevailing opinion is that younger stores haven’t reached their downs and generate just about whatever sales they want.” ✱ full potential. The comps metric is the invention of Jerry Gallagher, So Urban Outfitters usually releases quarterly sales figures Because comps are not judged under one standard or cal- an equity analyst, who was trying to gauge the mature — including quarterly comps — about a week before releas- sales growth of a retailer. culated in a so-called “black-and-white” way, analysts say ing the quarter’s earnings. That way, “people will know very releasing other, accounting-based monthly metrics would be quickly whether the sales were purchased by markdowns. It’s ✱ Not all retailers release same-store sales ﬁgures. helpful for a better monthly snapshot of a retailer’s health. much more reflective of the strength of the business, whether But the chance of retailers providing more data, of course, is the sales really generate margin or not,” Keyes said. rather slim. began publishing a monthly publication with his same-store Ye t, interestingly, Glen Senk, president of Urban Outfitters’ “There’s very little else to judge companies on [during the sales estimates for several other retailers, too. Anthropologie stores, sees comp results a bit differently. quarter], so analysts use same-store sales as a measuring Eventually, Gallagher said, the retailers “decided to have “I view comp-store sales as really a vote of where we stand stick,” said Walter Loeb, of Loeb Associates, a New York- their accountants hammer out the numbers instead of me.” with our customers,” Senk recently said. based retail consultancy. By the Eighties “it really became an issue” for retailers who On top of markdowns and clearance sales intermittently For many analysts, their unease over the attention Wall weren’t releasing monthly same-store sales, said Mike Niemira, inflating comps, most analysts agree that factors outside of a Street lavishes on comp reports stems partially from the fact director of research at the International Council of Shopping retailer’s control can affect same-store sales, as well. A recent that calculating comps is not standardized. Bob Buchanan, Centers. “Analysts essentially demanded they be reported.” example would be the hurricanes that whipped up the East senior analyst at A.G. Edwards & Sons Co., said it best: About four years ago, Wal-Mart took comp reporting a Coast late this summer. “There’s tremendous variation in terms of when a store is step further by issuing a weekly same-store sales update. Limited Brands Inc.’s chief executive Leslie Wexner sees included in same-store sales.” Ta r get Corp. also began issuing weekly comps updates. While same-store sales as a reflection of a retailer’s health. Wexner Comp stores are defined as anything from stores open at many retail analysts describe the weekly sales reports as cir- explained during an investor meeting that comps are “kind least 13 months, as most specialty apparel retailers define them, cumstantial information, the retailers’ goals, said Janet of, but not exactly, a synonym for profit.” to stores open sometimes as long as 24 months, as Wal-Mart Hoffman, a partner in Accenture Ltd.’s retail practice, are “to Comps, of course, aren’t an across-the-board foreshadow- Stores Inc. defines them, he said. Those disparities can skew the show continuing momentum.” er of profits, as is the case of Abercrombie & Fitch Co., which credibility of comparing results from retailers in the same sector. So, what’s next? Daily sales reports? “I was thinking more has been known for often reporting negative monthly comps, The same-store sales metric is the creation of Jerry like hourly. I want an hourly same-store sales report by loca- but increases in quarterly and annual profits. Fittingly, Gallagher. In the early Seventies, Gallagher, a trade analyst at tion so I can really monitor it,” joked Jacques Roizen, a direc- Abercrombie ceo Mike Jeffries told WWD in late August the institutional research firm Donaldson, Lufkin and tor at the restructuring firm Alvarez & Marsal. that he’s “not comp-obsessed,” especially since profits at the Jenrette, was concerned that department store chain W.T. Sarcasm aside, comp reports do have their merits. Beyond retailer have risen 37.9 percent annually in the past four years Grant Co. was expanding its store base too fast, even though using the data to gauge a retailer’s sales momentum and ended fiscal 2003. Abercrombie also recently reported a big sales were also rising rapidly. assess its growth potential, analysts use the reports to analyze 11 percent spike in October comps. BY THE EIGHTIES “IT REALLY BECAME AN ISSUE” FOR RETAILERS WHO WEREN’ T RELEASING MONTHLY SAME-STORE SALES. “ANALYSTS ESSENTIALLY DEMANDED THEY BE REPORTED.”

—MIKE NIEMIRA, DIRECTOR OF RESEARCH ICSC 21 MONDAY, NOVEMBER 15, 2004

out who would make the best lifetime part- strategy that many funds employ, LF tends to because technological systems are now in ner. While both strategic and financial buy- hold on to its purchases far longer. place that allow for a certain comfort factor MONEY TALKS ers looked at OP, in the end, it was Warnaco Investments include Wilke Rodriguez, in the predictability of earnings. CONTINUED FROM PAGE 19 Group Inc. that presented both a better Millwork Trading Co. and Danskin. “The systems now in place, which was times when a financial buyer can give a firm price and greater opportunities for growth. Michael Hsieh, president of LF not the case before, makes it harder to man- the “oomph” it needs to get to the next level “It completely depends on the situation International Inc., says that he’s not sure if age a business by one’s guts. The systems and other times when a strategic player involving both the acquirer and the ac- financial players are positives for fashion allow earnings to exist that are less likely to makes more sense. quiree. In a purely financial situation, and retail firms. be one-time events. That makes the indus- Baker and his partners in the San there’s one set of boundaries. In our deal “I think that remains to be seen. Our in- try more attractive for a financial buyer Francisco-based investment group Doyle & with Warnaco, it was both financial and vestment focus is on buying the whole com- than it used to be,” Kestenbaum points out. Boissiere acquired OP from Berkeley strategic. It was a case where it was a win- pany, firms where we can bring our global He believes that financial owners can be Capital Corp. in 1988. Under his leadership, win for both companies. A successful public sourcing capability to help the firm in- good for fashion and retail firms, particularly OP became a think tank for a portfolio of li- company fit our strategy, and our compa- crease margin and operating profit. We feel since they can impose financial disciplines, censees, with OP working closely with ny’s [business and operations] fit their that the synergy [we bring to the table is] such as strict inventory management, on them from conception to distribution. In plans,” explains Baker. our expertise in managing the supply which private owners are less inclined to focus. the process, Baker repositioned the brand LF International Inc., the investment arm chain,” Hsieh adds. In addition, the banker notes, financial buyers as a classic American one rooted in the of Hong Kong-based global sourcing firm Li Richard Kestenbaum, partner at sometimes will build other platforms, such as California beach lifestyle. But to take it to & Fung, invests in consumer products firms, Tr i a n g l e Ca pital, notes that there’s been an holding companies owning synergistic firms, the next level of growth also meant figuring but unlike the typical five- to seven-year exit increased focus on retail and apparel firms that in time become strategic buyers. ■

Ye t, retail analysts have a fascination with comps because the numbers help them advise clients on whether to continue to hold on to a stock. Indeed, Imagine a financing proposal filled with stock price fluctuations can be huge on same-store sales days because the practical business solutions hand picked just reports often also update earnings fore- for you. At GE Commercial Finance’s Retail casts. The revised outlooks, combined Finance group, that’s exactly what you’ll get. with perceived comp momentum, fre- quently lead to analyst upgrades and No matter your goal, we’ve got all the goods downgrades of retail stocks. in stock to help you grow your business: Perhaps Niemira best summed up financial analysts’ interests in monthly cash flow and asset-based loans, term and same-store sales: “Information is real- second lien loans, acquisition capital, ly the backbone of Wall Street.” He recapitalizations...and more. We’ve put our added, however, that if retailers didn’t tailored financing solutions to work for feel pressure to report comps on a hundreds of companies from department monthly basis because investors are hungry for more data, they would like- stores and sporting goods outlets to jewelry ly just report comps quarterly. and specialty apparel stores. Regardless of whether Wall Street loves or hates comps reports, there Attention Retailers: Combine this with 100+ years’ of consumer are several other monthly metrics product experience and first-hand retail analysts say would give a satisfactory operations know-how and you can be sure peek into the health of a retailer in We’ve got your between quarterly reports. They we’ve got your future in store. include: gross profit return on invest- future in store ment, inventory levels and turnover, sales per square foot, volume of gross GE Commercial Finance margins, average rent per square foot, monthly customer counts, debt Retail Finance ratios and total units shipped. Because the above metrics are based on accounting principles, maybe the real question shifts away from why Wall Street is obsessed with comps to why the Street is not pushing for standardized comp reporting. Standardization is an old idea, and it’s one both the Washington-based retail trade group the National Retail Federation and the ICSC’s Niemira, support. Standards for when a store quali- fies as a “comp” store could be different for different retail sectors. According to Gallagher, it takes new specialty retail stores about three years to reach their full potential, while discount and smaller department stores take five years. Larger department stores take roughly seven years. Unfortunately, said Scott Krugman, a spokesman for the NRF, standardization is not likely to happen. “Individual companies don’t want to be dictated to about how they’re going to report their sales.” But if retailers feel pressured enough to satisfy a Wall Street that is jonesing for monthly same-stores sales numbers, maybe mandating a Jim Hogan · Norwalk, CT · 203-956-4592 Stuart Armstrong · Managing Director Daniel Williams · New York, NY · 212-309-8779 comp-store standard isn’t such a far- Lori Potter · Charlotte, NC · 704-992-5444 Norwalk, CT · 203-956-4085 Kimberly Morse · Pleasanton, CA · 925-730-6464 ■ Stephen Metivier · Norwalk, CT · 203-956-4596 Matt Christensen · San Francisco, CA · 925-730-6425 fetched idea. Pamela Rashid · Chicago, IL · 312-441-7763 © 2004 GE Corporate Financial Services, Inc. All rights reserved. 22 THE WWD BUSINESS

RETAIL SALES TRAINING MONDAY, NOVEMBER 15, 2004 MONDAY, IT’S ABOUT THE PEOPLE BY MEREDI TH DERBY WITH FEWER PEOPLE LOOKING TO RETAIL AS A CAREER AND A RAPIDLY SHIFTING CUSTOMER BASE, RETAILERS ARE SEEKING BETTER TRAINING METHODS TO SAVE THE DAY.

ederated Department Stores Inc. equip employees on how to serve a shifting Candace Corlett, a principal partner at with our customer,” Corlett said. has taken a page from a U.S. Air customer base. WSL Strategic Retail, a New York-based con- For retailers, the challenge is finding the Force manual for part of its manager Most retail training takes 12 to 18 hours a sultancy, said retailers have “misguided prior- right fit for the position. It’s also getting harder training program by offering a retail year, the bulk of it done in a one- or two-day ities” when it comes to training. It’s not that to find employees who consider retail a career. training simulator, akin to a flight orientation program, according to Daniel they don’t have the time or money, she said, “Generally, people look less to retail as a simulator, where senior managers Butler, vice president of retail operations at it’s that training is not high up on their list. career, though I hope that that is beginning work in teams to run mock business the Washington-based trade group National “One of the problems — and opportuni- to change. Retailers have not done a great job F units in a virtual environment. Retail Federation. CD-ROM and ties — is a focus on [using] technology for of allowing the image of what a career in But using this type of advanced technolo- DVD/video are the most prevalent ways doing the training, as opposed to the training retail means…from floor associates to a store gy makes Federated an anomaly in a retail associates prepare for their jobs. itself,” said Corlett. manager or a buyer,” explained Kathy training world that relies on older technolo- Expert opinions vary whether this is She also said training sends an important Mance, vice president of the National Retail gy, and outdated techniques. Still, training is enough, but most agree that before any train- message to the employees, “that you are an Federation Foundation. “Frankly, I think too evolving as retailers respond to changes at ing begins, retailers must find the right asset that we invest in. We invest in you many people don’t think of retail as corpora- the store level while also striving to better employee with the right attitude. because you are our first and last connection tions, they only think of them as the stores.” HIRE YOUR CUSTOMERS! AND OTHER TIPS FOR CREATING A BETTER WORKFORCE

While PowerPoint presentations, CD-ROMs and virtual, online Promote company-wide unity. The Ritz-Carlton, for example, does training sessions have been effective for many retailers, a daily 10-minute lineup when all 28,000 worldwide employees go technology-based methods should not entirely replace one-on- over a theme of the week as well as one of the hotel’s basic 1. one or in-person training procedures, said Kip Tindell, ceo of 6. customer service mantras chosen by the corporate headquarters in The Container Store. Chevy Chase, Md.

At the very least, train sales associates on simple questions Hire your customers, who are likely passionate already about the that customers are most likely to ask, said Candace Corlett of business. “It just takes a leadership mind-set that really believes that WSL Strategic Retail. They include: Does this item run large it’s possible to get great people to work in a retail store. I think most 2. or small? Is this on sale? How much is this? Can I get this 7. retailers give up on that,” Tindell explained. That said, it’s important from another store? to train managers on how to interview potential candidates.

Make it comfortable for trainees to ask questions, Tindell The beneﬁts of training likely outweigh the costs. “Every time we advised. Job shadowing and peer buddy programs make look into that, we come back with a redetermined conclusion that trainees feel less like they’re being scrupulously watched by that last incremental bit that we’ve done was some of the best money 3. management. In return, they are able to work with less stress, 8. we’ve ever spent,” Tindell said. Famalette agreed: “You have to several retailers said. believe. If you don’t believe, don’t do it.”

Meet with employees periodically to see how work is going, Complete cost-beneﬁt analysis on your training methods. “It’s all said the Ritz-Carlton’s director of training, Jeff Hargett. This incumbent upon us as human resources professionals to measure is also a chance for both parties to share concerns as well what we do vis-à-vis impact studies and evaluations. What kind of 4. as triumphs. 9. return did I get on this investment? Are people more productive?” said Sherry Hollock, divisional vice president of organization development at Federated Department Stores Inc. Make sure your trainers are as excited to be trainers as your employees should be about getting trained. “No matter what you Consider having full-time in-store trainers who spend 80 to 85 do, if you recognize that and you say, ‘How am I going to have percent of their time training, a method The Container Store uses. 5. fun doing this every day?’ you take a whole different approach The result is a more highly trained and motivated workforce. [to your job],” said Jim Famalette, president of Gottschalks Inc. 10. 23 MONDAY, NOVEMBER 15, 2004

Corlett said apparel retailers “tend to hire So Bethke instructed store management weather patterns, but in the “cockpit,” man- at the interviewing stage where it is easier to more people who don’t care.” They may want teams to identify their needs in specific stores. agers make management and merchandising find an inspired potential employee. to take a page out of Kip Tindell’s book. “Sometimes it was language barriers. If it was, decisions and receive periodic real-time “The people out there in the trenches, face- Tindell, president and chief executive officer we actually gave Spanish phrases that worked,” reports on their progress. to-face with the customer, they’re the ones of The Container Store, said during a she said. The phrases helped direct customers to “A lot of the learning that comes out of this who are really making us. You have to have WWD/DNR CEO Summit two years ago the restroom or explained the refund process. is that people start to see the impact of the that housekeeper who is just as excited at that the first step is to hire creative employees, For management level and higher, retailers decisions they make, not just on the people being here as that manager,” said Jeff Hargett, people with high levels of enthusiasm. "We are spend more time and energy on training. but on the group. It’s a very fun way to learn director of training at the Ritz-Carlton Battery absolute wild-eyed fanatics when it comes to In the case of Federated, the company is in complex concepts,” said Hollock. Park in New York, where employees receive only hiring great people," Tindell had said, the process of expanding its distance-learning Another aspect of manager and executive- about 250 hours of training in their first year. adding that the company invests 235 hours of training. “I can be here in Cincinnati and have level training are corporate universities. The Employees truly thrive and contribute, formal training in every first-year employee. 20 students all over the place,” said Hollock. Cincinnati-based Federated Leadership Hargett has found, when they feel they’re a "The key is preparing people to use their Tr a i nees can view a Powerpoint presentation, Institute has been formally training part of something bigger while also being intuition and not just training them to act," interact with other students and ask questions. Federated’s top 1,000 senior executives since given decision-making responsibilities, a skill Tindell said. Federated’s computerized business simu- 1999, according to Hollock. that can be improved through training. Apparel retail training begins with an ori- lation, à la flight simulation, seats three or four But for most store associates, customer- “I don’t care if you use videos or send a entation of the company’s culture along with people around a computer as they play the role service techniques are learned by trial and trainer around the world, the training interac- related point-of-sale training and an introduc- of a management team, Hollock explained. error, underscoring the need for making more tion isn’t nearly as important as inspiring tion to sexual harassment and security poli- The simulator may not replicate changing strategic hires. This allows the training to start [employees’] spirit,” Corlett said. ■ cies, said NRF’s Butler, who previously worked in department stores for 26 years. From there, new hires can expect additional training within their specific department or specialty. “I really think that the initial training that Wells Fargo Retail Finance most retailers do is very much efficient to meet the demands of someone on the floor,” Financing Solutions for Retail Businesses Butler said. “You’re not just trying to get that person on the floor to learn the register and Wells Fargo Retail Finance provides revolving lines of credit,term loans and do markdowns, you’re looking to educate seasonal facilities tailored for retail businesses. Calling on proven industry this person about the culture and what they need to better serve the customer.” experience and dedicated,personal attention, we are committed to providing Federated, for example, provides train- a ﬁnancing solution that works for you. ing mostly via CD-ROM, with follow-up seminars, for its sales associates, which Sherry Hollock, divisional vice president of organization development at the Cincinnati-based company, admits is not exactly revolutionary these days, but is cost- effective. “It’s not cutting edge, but it’s been there for a while. Taking advantage of technology is where we’re able to get a lot more return on investment of training dollars,” Hollock said. “We’re able to get new information out to big masses of people much more quickly so we’re more timely, and it actually helps us to cover more content in less time.” The company implemented computer- based training in 1993. New hires at Gottschalks Inc., a Fresno, Calif.-based regional department store chain, get a two-day training session that includes workshops where they learn to use the register and related customer-service programs, said director of training Joice Bethke. From there, the employee is Talk to a lender with retail experience. assigned a “buddy” on the sales floor who helps the trainee go over everything learned during the orientation. Call or visit us online today! Many retailers are providing programs One Boston Place, Suite 1800 • Boston, MA 02108 similar to Gottschalks’ “buddy” system. Federated said its employees act as mentors (888) 964-9600 for new associates, which relieves new hires’ stresses over constantly asking ques- wfretail.com tions of managers. As Jim Famalette, president of Gottschalks, put it, “It takes away a little bit of the ‘Big Brother is watching’ kind of thing.” Lately, Gottschalks has taken training a step further. The company found that its Hispanic customers make up an important demographic — as much as 33 percent of customers in some markets — and realized these customers want more customized service. They often shop as a family and, for them, the most important interaction with employees is how they are treated at the point of sale, Famalette said. “We needed to make sure our employees were more aware of this specific need if we were going to improve our presence with our customers,” he said. © 2004 Wells Fargo Retail Finance. All rights reserved. Developing RELATIONSHIPS. Providing SOLUTIONS.® 24 THE WWD BUSINESS

CREDIT WORTHINESS BY ROSS TUCKER MONDAY, NOVEMBER 15, 2004 MONDAY, WHEN IT COMES TO MAKING CREDIT DETERMINATIONS, FACTORS SAY IT DEPENDS ON THE PEOPLE MAKING THE DECISIONS. BUT IS IT AN ART OR A SCIENCE? FACTORS SAY BOTH.

or factors, companies that handle suppliers’ pair of shoes — we don’t make a size 8 foot fit a size 7 shoe.” “When a client is important to us, we have the ability to receivables for a fee, determining how much credit According to Stanley, Rosenthal works with clients with take risks that some of our competitors won’t take,” said to extend to their clients is a blend of art and shipping volumes that range between $5 million to $250 Milberg. “We’ve been able to put on new business by selling science. Being able to make those judgments million. “You really have to understand what their business our service, not just by slashing rates. The first part of quickly has become more of an issue as the pace of is trying to achieve.” service is what kind of approval we’re going to give clients.” businesses has increased. After determining their comfort with the type of Milberg believes that his firm’s success is a result of Despite this, determining credit still boils businesses being conducted and the people behind it, the being focused on the factoring market. “Factoring is not one F down to the factors’ relationship with the people factors delve into the financials and set out to learn about of 10 different business lines in our company,” said Milberg. making the decisions, which is just the way they like it. the client’s other relationships. While generally having “If your portfolio gets too large, it’s harder to make Even with advancements in technology, factors don’t access to a company’s financial information, a large part of individual decisions for individual clients.” believe a computer program or any other system could the decision hinges on the factors’ ability to evaluate the Officina points to problems that arose when Barneys produce a true picture of a company’s creditworthiness. company’s relationship with others in their field. New York was on the brink of bankruptcy, several years ago. “Our view is that when you take the human element out “As a factor or asset-based lender, our number one exit “At the time, young design companies had to have their of the equation, it doesn’t work,” said Stanley Officina, strategy is the quality of the collateral we lend to,” said goods in Barneys,” said Officina. “The factor would make president of Sterling Factors. “When you start trying to Mark Bienstock, executive vice president of DCD Capital. an accommodation to a client and approve a portion of an force companies into a formula you are not doing them or “We need to understand and closely monitor the accounts order simply because of the relationship, even though you yourself justice.” Michael Stanley, executive vice president at Rosenthal & Rosenthal, echoed this sentiment. “We don’t have a formal “AT THE END OF THE DAY, THE TWO MOST IMPORTANT rating scale like banks do. That means when a client comes to us and they need something, we can respond to them ISSUES ARE THE QUALIT Y OF OUR COLLATERAL AND quickly.” Furthermore, said Stanley, clients want to know decisions are going to be made based on their particular THE CHARACTER AND CAPACITY OF THE INDIVIDUALS situations and not by a predetermined set of standards. With today’s focus on bottom-line financial results, THAT WE ARE DEALING WITH.” many of the factors say the first thing they look to when — MARK BIENSTOCK, DCD CAPITAL considering a new client are the people behind the company. “First, we look at the management team and their receivable and inventory of our clients.” Issues such as sales knew the credit was going to be a problem.” experience to find out just how good they are at what they concentrations, seasonality, type of inventory and the Situations like these are more about a gut feeling than do,” said Thomas Pizzo, president and chief executive company’s historical financial performance all come into anything concrete, according to Officina. officer of Wells Fargo Century. play, said Bienstock. “You get all the relevant facts on the table and you have After all, pointed out Stanley, “If there’s a problem, it’s “The science is determining whether a client has to make a judgment,” said Milberg. “If the process by which the management that gets you out of that problem.” adequate capital to finance their business plan,” said Pizzo. we make the decision is a sound one, we don’t second-guess “The first thing you really look at is the background of “Experience is key. You have to have the ability to find out as the decision.” the principals,” said Officina. “You make sure they’re not much as you can from your industry experience. That’s an The relatively small size of many of the companies that Jack the Ripper and that they’re legitimate.” art that you have to have within your organization.” factors deal with also lends itself to a more personal Prospective clients need to be a good fit for the factor, as There are some basics that every factor examines, said relationship. “You’re not dealing with Fortune 500 well. “Our expertise has always been importers,” said Pizzo. David Milberg, president of Milberg Factors. “There’s the companies on a daily basis,” said Pizzo. “That’s our strong point and that’s where we get our financial condition of the customer, the financial outlook The basics of determining credit haven’t changed all referrals from in the market. We’re capable of for the customer, where they stand with other lenders, the that much, according to Officina. Ultimately, factors have to understanding it and financing it.” kind of credit they’re getting in the marketplace.” make a decision and go with it, and it’s always a gamble. According to Officina, Sterling focuses its business on When clients seek to sell to retailers that may be in a less- “At the end of the day, the two most important issues are start-ups and those companies with shipping volumes of less than-desirable financial position, a strong relationship the quality of our collateral and the character and capacity of than $50 million. “It’s kind of like shopping for the right becomes even more important. the individuals that we are dealing with,” said Bienstock. ■ MONDAY, NOVEMBER 15, 2004 25 . ■ Consulting — ROSS TUCKER ONE EXPERT AND THEY’LL Investment Banking TO USE , we help you make the right choices. During EITERS three options, Strategic Alliances acoby likens the legal process to installing a car alarm. to process the legal likens acoby ane Shay Wald, a partner with Los Angeles-based & Irell Wald, ane Shay J J WEAPON oët Hennessy Louis Vuitton. oët Hennessy ur alarm it will be factor.” a deterring oup, believes large awards can be an effective tool in the re- tool can be an effective awards oup, believes large hen you can get a judgement of any kind and you show it to show kind and you of any can get a judgement hen you our car, they’re going to find a way to outwit it,” outwit to find a way to they’re going our car, said Jacoby. eally happen — not at the street level, but I think at the next but level, happen — not at the street eally Manella practice and head of the firm’s LLP trademark gr does “I think the deterrent and in the court system. tail world r locations and assets retail people with physical up, for level that “I know be seized,” said Wald. that could potentially w it has a deter- isn’t a counterfeiter, an infringer that perhaps see that their they Once a judge. also easier for It’s ring affect. judgment, a default had no hesitation enter to colleagues have an award.” make judge to the next it easier for it makes determined to protect our brands from this daylight robbery this daylight from our brands protect to determined seeking sanctions that pro- by rights property of intellectual LVMH for said a spokesperson deterrence,” vide the most M steal to wants if someone really an alarm, have if you “Even y a line of cars and see down they’re going when maybe “But yo Net Worth Solutions Net Worth ARE AT THEIR DISPOSAL.”ARE AT ICHARD LEHV, LEHV, ICHARD FROSS ZELNICK LEHRMAN & ZISSU P.S. our over 30 years of handling strategic and liquidity issues in the fashion, built the relationships jewelry and home furnishingsaccessory, industries, we’ve that will help you achieve your goals. Our specialists work with you and your team to make sure that every opportunity is explored. So whether sell or merge, we’re the only call you need to make. looking to buy, you’re Contact Jack Hendler or Matt Polsky 212.278.8200 faxContact Jack Hendler or Matt Polsky 212.278.8200 212.354.8831 NY Solutions, Inc. New York, Net Worth 37th Floor, Broadway, 1450 10018 Running your business is your specialty. Helping you buy, sell or merge it Helping you buy, Running your business is your specialty. is ours. At Mergers and Acquisitions buying. selling. merging. —R VER MEANS E and particularly noteworthy examples oc- examples noteworthy and particularly AT seminar, points out that at $1 million points out per counter- seminar, WH to $464 million. to the LVMH case, Judge Griesa ordered 29 unnamed Griesa ordered case, Judge the LVMH

mbia Law School teaching a trademark and copyright a trademark School teaching mbia Law COUNTERF Richard Lehv, a partner at Fross Zelnick Lehrman & a partner at Fross Lehv, Richard Sources said the $16 million verdicts were not a record not a were million verdicts said the $16 Sources Tw o r e c e n t In “Fighting counterfeiting is a long-term battle and we are battle and we is a long-term counterfeiting “Fighting MH lu atch USA Inc. against unnamed Chinatown retailers. The retailers. unnamed Chinatown against Inc. atch USA it mark per product, judgments can rapidly add up. can rapidly judgments per product, it mark igation atutory damages —atutory entitled on paper, that, an award ct. It is considered a victory. is considered ct. It hatever means are at their disposal,” means are hatever said Lehv. “Congress has given them this weapon to use and they’ll to them this weapon use given has “Congress w Zissu P.S. who also serves as an adjunct professor at as an adjunct professor also serves who P.S. Zissu Co fe high. However, they did say they were not aware of a higher not aware were they high. did say they However, under the guidelines of the Lanham granted award collective A Chinatown retailers to each pay the company $16 million in $16 the company pay each to retailers Chinatown st LV lit Judge Court Federal Manhattan 4, when on Aug. curred infringement Thomas Griesaclaims of trademark upheld and Rolex Louis Vuitton Hennessy Moët LVMH by brought W near- award in a collective cases resulted related but separate ing $500 million. USE “CONGRESS HAS GIVEN THEM THIS THIS THEM HAS GIVEN “CONGRESS involving counterfeiting can leave the can leave counterfeiting involving Lawyers representing manufacturers of manufacturers representing Lawyers xury in particular goods sums seek huge awsuits mone- ask judges for that lawyers impression ask little girls in the same way tary awards Santa for ponies. lu knowing despite defendants nameless from

g actual damages,” said David Jacoby, a partner Jacoby, g actual damages,” said David se without law degrees, questions as to how questions as to degrees, law se without future counterfeiters while protecting their brands. protecting while counterfeiters future

t surprisingly, counterfeiters are not known for their for not known are counterfeiters t surprisingly, that allows you to collect statutory damages as an alterna- collect statutory to you that allows For tho guide- government those questions involve to The answers “[Large awards] are driven by a statute in the Lanham a statute by driven are awards] “[Large No nd a trademark was intentionally copied can award “not copied can award intentionally was nd a trademark nes intended to provide companies with alternatives to fight- to with alternatives companies provide to nes intended li use of the law and the companies’ counterfeiters, ing blatant to deter of proving making habits, the onus fastidious record-keeping this, Congress Recognizing impossible. actual damages often to companies allowing in 1996, amended the Lanham Act a time prior to damages at any statutory pursuing opt for the guidelines, to judges who judge’s final ruling. According fi per type of goods mark than $1 million permore counterfeit or services sold.” that such judgments will likely be impossible to collect. be to impossible will judgments likely that such numbers, come up with these why stratospheric lawyers millions to invest companies why them and judges award understandable. are victories hollow seemingly pursue Act provin to tive with New York law firm LLP with expertise Phillips in Nizer law York with New set “It and the fashion industry. issues property intellectual said Jacoby. up standards,”

COURTING COURTING L 26 MONDAY, NOVEMBER 15, 2004 / /09391 011/51/911/12 10/29 10/15 10/1 9/17 9/3 8/20 8/6 WWD W STOCK IN WWD COMPOSITE STOCK STOCK COMPOSITE WWD COMPOSITESTOCKINDEX S&P 500 INDEX VS DEX SUSTAINS MOMENTUM SUSTAINS MOMENTUM DEX . S&P 500 prices. spending pictureandlowerfuel soared onabrighterconsumer better thaneconomistsexpected. climbed 0.9percent,whichis Excluding autosales,retailsales a 0.2percentgaininOctober. that saidretailsalesexperienced from the and fashionstockswasareport market cheered. $50 abarrelasserioustrouble Investors deemedanythingabove dropped to$47.32abarrel. buoyed byoilpricesthat 1.5 percentgainto1,166.17. which outpacedthe Fridayat1,195.42, closing on Stock Index retail shares,which,asasector, up forasecondweek,including election charge,sendingstocks The bullscontinuedtheirpost- slid tolevelsbelow$48,the for theeconomy. Sowhenprices WWD ags anr ls Change W Close Largest Gainers Tr G-III Wilsons Leather Fossil Change Revlon Close Bluefly Largest Losers Tr Syms Ta Composite: In turn,the Other goodnewsfuelingretail Streetwas The rallyonWall opical Sprtswr ue Religion et Seal 1 2 4 . 5 119 rrant • • • Sterling Factors: 25.23 Weekly % Changes % Weekly rsdn Vice President CorporationSterling Factors at 212-575-4413 President Fo Contact: Opens lettersofcredit tobringinproduct Puts cashbackintoyourflow Protects yourreceivables ...and we do it all as part ofSterlingNationalBank! ...and wedoitallaspart closing pricesofDec.31,2002. Index baseof1000iskeyedto atrn alSalyOfcn,For Schnitzer,Asset-Based LendingcallRobert Officina, r Factoring callStanley Stock Mark (ending Nov. 12) Commerce Department jumped 2.2percent, Retailers: Are YouAre You’ll Sure GetPaid? Y 1 4 8 . 2 117 27.89 WWD Composite ou’ve GotTheOrder... 82 -11.08 28.21 17.64 12.54 .614.04 4.06 .256.76 2.32 .5-7.33 6.45 -10.54 4.83 -13.94 2.16 -19.38 2.58 19.01 1.44 24.22 1.59 U OR R PNALTEWYTO THE TOP THEWAY OUR DOORS ARE OPEN ALL S&P 500 et 500 SeventhAvenue •NewYork, NY10018•www.sterlingbancorp.com V 32.12 1302 en 5.48 5.48 In dors: dex ’s S S 27 29 anc 62 00 -1.23 0.23 20.03 -0.59 0.31 26224 1.44 54.50 -0.35 1.59 0.71 0.08 0.50 29522 2.16 5521 - 9.90 17.42 0.35 6447 4.06 13.1 180518 0.91 4643 39.06 46249 - 34066 0.09 - 29.13 -0.45 -0.39 - 27400 8.0 1.20 10.8 96.8 0.62 0.28 0.77 38.65 22468 19.75 -0.22 Warnaco 0.84 12.9 25.14 39.45 86.40 True VF Corp. ReligionApparel 4308 198 2533 3.28 Tropical 21.6 Sprtswr 18.99 12.94 8810 23540 50232 Tommy Hilfiger 0.65 40.16 Tarrant -0.15 16.1 0.88 712 2975 0.71 0.85 10.5 -0.51 22.76 Revlon 1.65 Russell 19.0 22.1 8.47 - 55.29 0.71 41.63 - 33.44 29.25 4.40 6.45 Reebok -1.30 19.1 41.05 15.8 0.81 4.88 1.96 15.60 Quiksilver -3.52 35627 18.25 13889 PoloRalphLauren 5846 34.95 4.50 350 31.25 26521 Phillips-Van Heusen 14.35 28.21 19.23 14.70 0.89 Perry Ellis 14.8 0.28 0.85 58341 11.2 3.93 27.28 NovelDenim Oxford 15.5 10623 18.7 74425 42.95 16.27 0.30 34.48 22.1 29.16 19.45 44.60 25.00 Nike 0.90 14.1 39.74 0.46 29.60 Mossimo Movado 0.94 16.9 48.35 16.5 25.90 351 -1.49 0.55 39267 4133 29.90 29.95 60.69 LizClaiborne 24.53 47.50 2.67 12.79 62902 KennethCole 59.42 0.40 39.75 2.65 946 Kellwood 25.4 19.4 86.52 0.33 32.09 489 JonesApparel 0.84 -0.57 - 8774 30.8 19.30 30.50 24.66 135945 InterParfums 5.09 31.32 IFF 46.45 4.83 2.32 G-III 42.23 17.0 31.75 17350 12.7 0.38 31.8 37.39 18.1 11.32 Fossil 13207 45.10 -0.25 31.01 Est?eLauder 1.88 5.75 9015 226902 -0.25 40.00 ElizabethArden 56.85 15.0 0.19 3.44 33.36 17.19 DelLabs 24.96 0.34 21.3 12.54 41.10 36.59 3.82 ColumbiaSprtswr 372863 - 11.75 17.59 Coach 52.02 47.09 - 106644 0.22 32.37 22.48 29.19 Cherokee 3288 25.5 49.34 49.22 1137 Benetton 246791 91399 0.13 25.16 2.26 17.7 32.50 -0.95 Avon 18.82 20389 -0.19 34.60 19.50 AlbertoCulver 23.8 62.18 20.60 18.88 - 46.01 38.64 43.2 6561 48.80 30.67 - 13.83 Wilsons Zale Leather 14.7 1.24 30.25 39.51 0.74 0.42 Wet 24482 Seal 363578 9440 27.41 58313 45.36 46.65 35.6 1.95 24.59 Wal-Mart 27.99 6.61 52.30 4.7 UnitedRetailGroup UrbanOutfitters 14.2 0.69 0.73 12.4 7264 22.1 0.14 31.30 50.50 52413 TJX 2853 1.86 9.01 1.77 16.29 2.37 Target 45.72 11.80 Talbots 24.14 18.7 0.10 Syms 20.4 61.31 20.64 16.11 69.50 54605 SteinMart 10.96 47.19 36.19 18.3 0.80 95652 4.20 1.70 24.11 52.04 StageStores 6.75 -0.06 105.99 1482 26.82 9772 ShopKo 19.2 0.86 7.60 0.75 52.25 28.65 Sears -0.61 27.28 19.5 193227 123037 1.34 39.82 26.14 0.57 Saks -0.26 12.83 20.85 12.14 6.7 RetailVentures RossStores 39.87 16.1 216677 15.69 28.5 170583 0.87 18.96 31.21 7.57 - 9.05 284 42.01 11.61 Regis 59114 162066 20.4 20.49 4.10 20.95 15829 PacificSunwear 17.7 23.24 56.06 Nordstrom -0.24 1194 1.01 4131 21.7 17.92 37.55 NeimanMarcus 20.2 272360 26.0 32.86 17.25 MothersWork - 23.97 0.57 10.21 9.70 54.73 29.76 MayDept.Stores 0.19 21.2 16.0 46.56 47.48 18.4 LimitedBrands 109.89 0.54 25.78 12.75 58363 31.26 Kohl's 96492 0.15 0.72 16.20 46.30 23.04 0.29 573588 Kmart 69.50 16.68 J.C.Penney 25.00 52005 15.2 46.35 28.07 39.59 Harold'sStores HotTopic 14.2 4317 24.82 20.90 98.9 36.48 22.41 52120 27.32 22.29 2.09 Gottschalks Guess 0.69 98556 20.2 1.27 623 54.10 82013 1.32 13.85 15.5 Goody's 0.54 106.30 0.44 27.05 32.2 42.83 -0.62 41.50 3.14 11.14 0.16 20.2 Gap 33.24 21.6 32.30 1.10 17.00 FootLocker 7.35 22.4 8.98 4.49 2.58 6421 32086 Federated 14.03 22241 0.85 19.58 18.12 0.09 FamilyDollar 12.80 3045 7.57 18.19 52146 eBay 19130 14.80 29.9 7698 42.54 DressBarn 37.60 16.7 24.9 22.94 3183 25.72 25.09 DollarGeneral 0.79 20.0 27.59 Dillard's 14.6 50.63 24553 55.06 3014 13.90 1.94 DebShops 19.3 - 23.35 41.60 16.91 CVS 11.1 110.25 14.39 Children'sPlace 36.5 33.19 19.45 18.74 CharmingShoppes Chico'sFAS 110354 14.8 23.19 32.90 2.01 25.20 28106 16.77 CharlotteRusse 0.94 14.7 27.01 5.09 30.51 Cato 47.34 Cache 44.68 26.1 42.92 33.59 10.77 BurlingtonCoat Bon-Ton 47.60 18.65 Bluefly 136030 9.19 11.31 90021 22.24 17.42 Bebe 9.62 27.20 1.40 19.4 AnnTaylor 23.63 AmericanEagle20.6 23.20 15.22 Aeropostale 17.95 21.20 Abercrombie&Fitch 5.97 14.80 37.70 16.83 31.43 23.07 43.75 33.98 44.88 T T Weekly Stock Index Stock Weekly IHLWP/E LOW HIGH e For your own pieceofmind, Sterling wants tobeyour financial partner. 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WWD “A” WWD offers five market-timed glossy Accessories supplements — five prime opportunities to strategically speak to the decision-makers and key influencers in the accessories industry prior to market.

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Issue Dates: Close Dates:

1st Supplement: January 3, 2005 November 29, 2004 2nd Supplement: February 28 January 24 3rd Supplement: April 25 March 21 4th Supplement: July 25 June 20 5th Supplement: October 24 September 19 PHOTOS BY KYLE ERICKSEN KYLE PHOTOS BY

For more information on advertising in these special WWD coated-stock supplements, contact Alix Michel, associate publisher, accessories, at 212-630-4596, Katherine Nelson, West Coast account manager, at 323-951-1805, or your WWD sales representative. WWDMediaWorldwide® 28 WWD, MONDAY, NOVEMBER 15, 2004 Mad for Karl: Fights Break Out Ov A clerk at the H&M on New The Karl York’s 34th Street is mobbed Lagerfeld as he comes down with an T-shirt. armful of new Lagerfeld stock.

Continued from page one a positive sign. “It shows people love surprises, and love thought was really funny because if you’re in fashion Jörgen Andersson, marketing director of the $6.2 billion seeing new things on the market,” he said. “It shows you just assume everyone knows who he is.” H&M. “We are as surprised as the customer [at the rapid that fashion should be fun.” Bennett said she was a bit surprised by the cut of the col- sellout].” A quintessential example of the burgeoning lection. “The silhouette is a bit bigger than I thought it would Lagerfeld told WWD Friday he was “flattered” by the “masstige” concept, and one of the most hotly anticipated be. I figured the clothes would be shorter and tighter.” feeding frenzy for his designs, but frustrated that there selling events of the year, the Karl Lagerfeld for H&M Meanwhile, at many locations in Paris on Friday, wasn’t more merchandise available. collection was trumpeted with a torrent of editorial fea- hundreds of women stampeded into the stores and “This was supposed to last two weeks and it’s over in tures, massive billboards and a two-minute television picked the racks clean within minutes, many grabbing 25 minutes,” he said. “I’m sorry for the clients because I commercial directed by Swede Johan Renck, the man be- merchandise indiscriminately — even from each other. like the idea that everyone could wear Lagerfeld. hind videos for Madonna and commercials for Nike. “One women grabbed a sweater out of my hands!” “Some people bought 20 or 30 pieces in three sec- In New York, even a wintry rain didn’t keep cus- said an incredulous Julie Perchenet, a 30-year-old onds. Funny, no?” tomers away from H&M stores. At exactly 9 a.m. Friday, lawyer who staked out the La Defense location but had A spokeswoman for H&M in New York said Sunday the line of Karl-o-philes standing outside the H&M no luck finding anything in her size. afternoon, “We have restocked everything. We have noth- store on the corner of 34th street and Seventh Avenue “It was the worst scene I have ever witnessed,” said ing left in our warehouse, and it’s selling amazingly.” stormed in to grab what they could. The items, mer- Sarah Crawford, a pastry chef who was among the first The three hottest sellers were the Lagerfeld silhouette chandised in a small area at the front of the shop, had to in line at the Rue de Rivoli location, but not fast or ag- T-shirt for $19.90; the sequin jacket at $129, and the lace be restocked starting at 9:02. By 9:20, the store’s stock gressive enough to score Lagerfeld’s designs. dress at $99.90. “We’ve bought the most quantity of those was all out on the floor. “People were pushing to get on the escalator, then grab- and they have completely sold out,” she said. At the Fifth Avenue flagship, there were over 300 bing everything they could,” she said. “They weren’t even A spot check Sunday at sev- people on line for the 9 a.m. looking; they were just grabbing. Some of them looked like eral H&M stores in the New opening and in the first hour, they were bartering, like a size 44 dress for another size York and Washington, D.C. The 1,500 pieces were sold. By 1 shirt. Nothing was lying around, except for a couple of areas revealed that the initial Lagerfeld p.m., the store had sold be- jeans. Everything was gone instantly, so I just left.” frenzy had died down, stores hangtag. tween 1,500 to 2,000 pieces per On Rue de Rennes at 11 a.m., women visibly dejected had restocked their shelves and hour. Sanna Lindberg, H&M’s by the sight of bare racks resorted to asking H&M staff if still had some merchandise left. U.S. country manager, was an- they could buy the T-shirts — depicting Lagerfeld’s face “It was outstanding [but] it’s ticipating that the collection — right off their backs. Offers went up to 100 euros, or not sold out. We still have some would be sold out by day’s end. about $130 at current exchange. in our store, and we’re selling At the 34th street location, In Berlin, Teja Schumacher, a receptionist from the through it. We love it, and it’s Mary Smith and Rob Barret, Vidal Sasson salon shopping at H&M’s Wilmersdorfer great,” said an employee Sunday two students from the Pratt Strasse branch, likened the frenzied atmosphere to “the at the 435 Seventh Avenue (34th Institute, skipped class to fall of the [Berlin] Wall.” Street) unit here. come. “We called every store “People were walking out with huge bags, packed with At the H&M in downtown yesterday and this was the 400 to 500 euros ($520-$650) worth of merchandise,” he said. Washington, D.C., Lagerfeld’s biggest one open at 9 a.m.,” By midafternoon, other Berlin stores already had coats and accessories have been said Barret. that bargain basement look, even after a second deliv- hot sellers, department manager Others did even more re- ery of Lagerfeld styles. A sales representative said Dennis Turner said Sunday. “It’s search. “I looked on the Internet blouses and jeans were among the first items to go. not sold out, but it’s doing pretty a month ago and set up re- But the bargain hunting was perhaps most intense at well,” he said. “We’ve had a lot minders on my computer about the H&M location just off the tony Rue de Passy in the of people coming in looking for it.” today,” said Gaelle Drevet, a TV producer toting a 16th arrondissement of Paris. There was a whoop of joy Andersson said H&M management, in concert with Balenciaga bag. Drevet walked away with five items: the at the opening bell and then all decorum went out the Lagerfeld, would confer this week to decide how to pro- white tuxedo shirt, the sequin tuxedo jacket, two chiffon window. Bourgeois ladies carrying designer handbags ceed. He didn’t rule out producing more Lagerfeld gar- shirts and a slipdress. Although she thought the pricing wrestled for silk shorts with all their might. ments, but suggested that might be untenable given time was fair, she was disappointed she couldn’t test the Liquid When the racks were bare, shoppers stripped man- constraints and an original marketing concept based on Karl fragrance. “I’m not buying something I can’t smell,” nequins of their outfits. “massclusivity” — offering an exclusive product, but on a she said. And while stores were practically sold out of limited-edition basis. Jennifer Bennett, a freelance stylist, was the second Lagerfeld merchandise worldwide, there was one glim- “Obviously, there are thousands of women who feel person on line at 34th Street. “I got here at 8 but the mer of hope: By Sunday evening 69 items were already disappointed,” Andersson said. “I think we have to ex- first girl in line was here at 7:45,” she offered. Bennett listed on eBay, including the Lagerfeld for H&M sun- plain this to our customers.” also called the stores on Wednesday night, hoping to fig- glasses, women’s jeans, cocktail dresses, silhouette T- Andersson said it was also too soon to say when and ure out which would be the best location to hit. “When I shirts and sequin dresses. While bids seemed to be if H&M might repeat the experiment with another fa- asked about Karl Lagerfeld, someone at one store I slowly trickling in, women’s jeans, originally priced at mous designer. Still, he read the consumer response as called said, ‘Who? Oh, he’s not here right now,’ which I $59.90, were up to $75. WWD, MONDAY, NOVEMBER 15, 2004 29 WWW.WWD.COM Oscar Sets Bal Harbour Store ver New H&M Line NEW YORK — The paint is barely dry on Oscar de la Renta’s new Madison Avenue store, but the designer already has secured The lucky ones: space for a second location in Miami’s Bal Harbour Shops. Crowds in Milan The company said Friday it will open a 2,100-square-foot store waiting to pay for at the upscale mall at the end of January. A previously planned their Karl goods. third shop is set to bow in April at the Wynn Resort in Las Vegas. Alex Bolen, chief executive officer of Oscar de la Renta, said no other U.S. stores were “in the works.” “Our real ultimate goal is to open stores overseas,” Bolen said. “Could we pursue another store or two in the U.S.? Yes. But I can’t imagine much more than that.” The ready-to-wear firm is said to generate annual retail sales of $650 million, including about 23 licensed products. That includes about $100 million from its collection business. International sales only account for 10 percent of the total business. Like the Madison Avenue store, the Bal Harbour unit will show- case the designer’s ready-to-wear, fragrances, sunglasses and select licensed products. The Miami store will be in a space formerly occupied by Bruno Magli, and is adjacent to Versace and Max Mara. The interior will be similar to the Madison Avenue location. “This is a very opportunistic situation,” Bolen said. “We had discussed the possibility of going into Bal Harbour earlier this year with the Whitmans [the family that owns and runs the Bal Harbour Shops], but decided to go with Madison Avenue first.” While the Miami store should prove to be a more seasonal business than New York, the clientele is similar in that both attract an international customer base, Bolen said. “It is a high-profile tourist destination worldwide.” he added. “We will use the feedback from those international customers and have things right to pursue.” — Rosemary Feitelberg

Customers in some H&M stores in Paris and London literally ripped Lagerfeld merchandise out of each Fashion Scoops other’s hands. YAMAMOTO’S MOMENT: Yohji Yamamoto was Yohji against doing a Yamamoto retrospective of his work until he met with organizers of Pitti Immagine last year. But even then, Yamamoto’s show “Correspondences” will be an antiretrospective retrospective. Sponsored by Fondazione Pitti Immagine Discovery, “Correspondences” will open at Palazzo Pitti in Florence on Jan. 13 and will simply show Yamamoto’s clothes on forms around the permanent collection of Palazzo Pitti’s Galleria d’Arte Moderna. “I’ve given up my old Customers throughout conception about what is Europe, like these in Milan, a so-called retrospective,” flocked to get their piece of the designer said in a statement. “I started to Lagerfeld at a price. hope I could leave something else there.” Yamamoto, along with longtime collaborator Masao Nihei, selected 80 past looks for the retrospective and will sprinkle them throughout the museum’s 30 rooms according to how they interact with the artworks. The exhibit runs through March 6 and then will move on to the Musée de la Mode et du Textile at the Louvre in Paris in April.

MR. IN PERSONALITY: Bergdorf Goodman has landed a rare in-store appearance from Valentino, who plans to descend upon the store on Thursday night for his first event there in a decade. The designer has kept to his own stores for his recent appearances, but was persuaded to turn up for cocktails along with expected guests including Jennifer Creel and Tory Burch. It probably helped that the store has been generating some big numbers for the designer, having just topped $1 million with a trunk show last week for the spring collection. Bestsellers included a long white pleated shirt, an orange printed dress and a green striped embroidered top and cardigan paired with a pink bow skirt.

STILL MODELING: She may have just revealed plans for a skin care line, but Cindy Crawford isn’t about to give up her day job. The supermodel has snagged yet another modeling contract — with Byblos for its spring- summer 2005 campaign. Crawford was photographed in a studio in Paris by Alix Malka. The move may help increase Byblos’ visibility globally as the Italian fashion brand apparel manufacturer Swinger International, which bought Byblos from Prada three years ago, is currently focused on expanding its business outside Italy and, in particular, in the U.S. PHOTOS BY THOMAS IANNACONE, NEW YORK AND TIM JENKINS, LONDON THOMAS IANNACONE, NEW YORK PHOTOS BY 30 WWD, MONDAY, NOVEMBER 15, 2004

Designer Trendy sportwear manufacturer seeks hip multifaceted designer capable of designing dresses and sportswear collections for major department stores. Must Designer $100 to $125K. Current exp. in better For Sale OFFICE SPACE WANTED have experience working with sample Women’s Woven casual Sprtswr to do line for Americas premier hat designer is selling Successful importer looking for room and have contemporary taste moderate Sprtswr for JC Penny price point over 300 duplicate hat blocks from his ABT 800/1000 sq. ft. Office Space. level. Great opportunity for associate market niche. Call 973-564-9236 Agcy. archives. Reasonable Prices. From Close to 1411 B’way. Brokers Welcome designer looking for the next step up. Manhattan...go 2 stops past 59th St. on Please call Richard to: (212) 764-9300 Fax resume to Bruce 212-382-0237. Piece Goods Mgr to $80K. Current exp. the R train to 36th St. Station. Credit in buying women’s or men’s outerwear/ Cards Only. No cash or checks please. Import coats piece goods required. Midtown Eric Javits Inc, 37-18 Northern Blvd., growing co. Call 973-564-9236 Agcy. 5th floor, LIC, NY 11101 Production Manager Designer $80 to $100K. Current exp. in By appointment only 917-833-9844 Los Angeles based Intimate Apparel JR activewear collection. Tops & Company is looking for a highly moti- Bottoms. Well known branded Co. Jamaica, Queens-Commerical ware- vated and qualified Import Production Call 973-564-9236 Jaral Fashion Agcy. house for lease. 40,000 sq. ft. w/ Manger. The ideal candidate will have approx 4000 sq. ft. a/c office space + aminimum of ten years experience in IMPORT ASSISTANT loading docks. Racking system + many all facets of off shore production in the Far East. NY Accessory Co. seeks individual amenities. Call landlord 516-997-2442 with customs compliance and classifi- UMBRELLAS The qualifications necessary are: fun- cation experience along with letter of credit, vendor payment and reconcilia- Well est’d. Mfr. seeks exp’d. Sales Exec damental garment construction, fabric knowledge, production tracking, logis- tion knowledge with ability to main- to work out of our Manhattan office. tain / update reports in all phases of Lo- Strong buyer relationships req’d. High tics, attention to detail and the ability to interface with both the domestic gistics. If you are organized, detail ori- commissions & great benefits offered. ented with good computer skills and a Responsibilities include but not limited and foreign staff. The candidate must be computer literate, a team player team player, fax resume with salary to: Maintaining sales of existing accounts; requirement to 928.244.4036 Developing new business; Attending trade and be committed to excellence. shows. Fax/E-mail to Ronald Rankin at: Designer $70-80K. Current exp. in girls 4-16 jr. 732-873-5100 / [email protected] Competitive compensation based on driven knits & woven sportswear requ’d 40% background and experience. Please e-mail denim. Mac, Illustrator, Photoshop. Import pro- your resume along with salary history, in duction packages from design inception. Art- HANDBAGS confidence, to: [email protected] work, Detailing. Skeching. Approval process. Samplemaking, domestic production, Call 973-564-9236 Jaral Fashion Agcy. short runs. New Designers Welcome. Factory located in New York City. Sales Assistant Designer $80-100K. Curent exp in JR. Please call (212) 239-4650 Seeking energetic individual to work in Knit and Woven Tops. Moderate price. Jr. Showroom. Assist with sales, follow New division of large mdtwn co. Call up, customer service. Requires great at- 973-564-9236 Jaral Fashion Agency. titude & disposition to help in all CONTROLLER Production PATTERN/SAMPLES areas. Great opportunity for growth & Designer Assist to $50K. Min 1 yr exp. in Reliable. High quality. Low cost. Fast Become part of a friendly JR. Woven bottoms required. Mac Bridal Manufacturer Seeks advancement w/growing co. Fax/E-mail: work. Small/ Lrg production 212-629-4808 212-869-0701 / [email protected] family of team workers Illustrator/ Photoshop. Lrg. mdtwon co. Molded Foam Longline Bridal Bra Call 973-564-9236 Jaral Fashion Agcy. from China. Growing 25M, well est’d., multi-warehouse L.I.C. apparel imporer seeks graduate Also seeks Molded Sew-in Bra Cups PATTERNS, SAMPLES, SENIOR DESIGNER/ Nationally recognized trend setting email: [email protected] accountant w/BBA or more. 5-10 years Boys PRODUCTIONS MERCHANDISER exp., factoring expertise, management. jewelry brand has the following posi- Cash For Retail Stock & Closeouts. All lines, Any styles. Fine Fast Service. skills, computer wizard. Excellent salary/ tions available. If you seek an energetic, Designer/Artist No Lot Too Big or Too Small. Call Sherry 212-719-0622. GIRLS BRANDS Fringe benefits package. Fax resume fashionable, challenging and success Global Design Concepts - a fun, fashion in confidence to Mr. R. at: 718-361-2680 driven career then please apply. Major childrenswear company seeks Call CLOTHES-OUT: experienced boys associate designer / (937) 898-2975 forward, energetic accessories company PATTERNS, SAMPLES, seeks talented addition to design team, graphic artist to work in a team envi- DESIGNER DIRECTOR OF ronment. Responsibilities include de- PRODUCTIONS to motivate and drive new business in Girl’s import apparel co. seeks highly their girl’s brands division. If you have signing boys line, creating artwork Full servcie shop to the trade. Fine motivated, creative indiv. w/min. 5 yrs PRODUCTION and interacting with sample room. fast work. 212-869-2699. a flair for trends as well as marabou and exp. for (4-16) Jr. driven sprtswr line. This position is for a senior production all that sparkles we need to talk! Must Must be proficient with MAC and have Great style & color sense req. Prof in coordinator w/ exp. in supervising a strong Photoshop and Illustrator be highly motivated and only team play- Illust & Photoshop. Fax res: 212-695- team of production managers. The ideal PTTNS/SMPLS/PROD ers should apply. Must have 5 years ex- skills. Great opportunity. 9721 e-mail [email protected] candidate will be able to organize and Fax resume 212-239-2766 High qlty, reasonable price. Any de- perience in a related field (ideally hand- motivate a staff in a fast paced work sign & fabric. Fast work. 212-714-2186 bags /backpacks). Illustrator and Photo- PATTERNMAKER environment. Domestic and overseas shop are a must. production exp a must. Computer DESIGNER Email resumes to: Young designer sportswear co. needs a skills in Word and Excel are required. [email protected] patternamker who is able to work from Min of 5 years exp in the jewelry/ BRAS & PANTIES first pattern thru production, with accessory industry. Great opportunity for an enthusiastic DESIGN knowledge of designer constructions, individual exp’d. in all phases of Bras and draping skills. Please fax salary &Panties. Fittings, Graphic Design, Intimates Designer request and resume to: 212-840-2657. PRODUCTION Sketch-Work req’d. Fax: 201-871-9790 Fast paced woman’s Intimate Apparel Co. MANAGER DESIGNER IMMED seeks designer with 3-5 years exp for Production Assistant SWEATERS mass market and national chains. Must We are seeking a detail oriented person Ladies suit MFR looking for an organized with excellent organizational and com- NICE FIRM be proficient in Illustrator & Photoshop, person to order trim follow up w/ contractors, $125,000 have excellent technical & spec skills, munication skills. Domestic and over- domestic & China etc. Multi task & fast seas production exp. a must. Computer [email protected] astrong sense of urgency & ability to paced environment. Knowledge of ex- CHINA MANUFACTURING multi-task. Should have a strong fashion skills in Word and Excel required. cel and word a must. Must be able to follow up w/vendors in PRODUCTION IMMED Hong Kong/Shenzhen China office sense, and ability to identify emerging Fax resume to 212-869-5393 DOMESTIC/IMPORT Many opportunites available. trends & silhouettes. Fax resumes to: afast paced environment. Min. 3-5 yrs exp in the jewelry/accessory industry. $55,000 [email protected] Intimate Division @ 212-684-7589 Retail Analyst [email protected] Global apparel company located in We offer competitive salary to commen- Sample Room Manager Secaucus, NJ has an entry level retail surate with exp. as well as a strong NY eveningwear company seeks expe- analyst position open. Position reqrs benefits package. All inquiries will be EDI rienced person to manage sample superb PC skills, attention to detail, kept confidential. room & design studio. Must have good research & analysis. Retail exp. preferred. COORDINATOR organizational and computer skills. Weoffer a competitive salary, annual Please e-mail resumes to: Fax resume to: 240-352-4830 bonus, 401(k), health benefits, and [email protected] or growth. Send resume to: Fax: 212-334-6152 Daily Processing and Back- STORE MANAGER [email protected] EOE Designer Senior to $85K. Current exp. in up of QRS/UPC/EDI trans- 244 Mulberry Street-Nolita SUSAN PRODUCTION/SOURCING MGR/80-120k womens/ panties from inception- completion. missions, ASN, LOT/ LINE/ 2,000 sq. ft with 22’ ceiling Burlingame and San Francisco CA. MENS URBAN SPORTSWEAR Creative but also able to spec out measure- SKU/Item #’s. Excel, Out- SAMPLEMAKER Exciting opportunity in a legendary 21 yr. This highly successful multi-div. co. ments & tech packages for Far East. Product Dumann Realty (212) 505-6300 old company. Immediate store manager look, Word, Adobe. Assist Seeking Top-Level FREELANCE Sample seeks Sourcing/Production Mgr. for two devl. Must hang w/ Berlin, Delta, Ariela, www.dumann.com position for experienced candidate who of their "Hot" Urban Brands. Req: Expr. Innersecrets, etc. Mass Market. Design exp on accounts receivables with Maker for Designer Men’s clothing. excels in sales and staff development Call: 917-661-1216 in off-shore sourcing for the Urban PC. Call 973-564-9236 Jaral Fashion Agency. proofing, chargeback, etc. Showroom / Office / Retail with good sense of fashion, style, and Sportswear mkt. (Macy’s level). Ability Licensing Director $125-$150K. Min 5 yrs. exp. We find you space-best deal-no fee store merchandising ability. to coord samples, monitor prod’n etc. in signing up manufacturers to take on licence Trusted Link Software A+. Sublet 525 7th/ready Administrative/Product Please fax resume to: (650) 347-2200 E-mail resume: [email protected] name for multi markets required. Manage & Please fax resumé to Garment Center Real Estate E-mail: [email protected] Fax 212-725-7116, Ph 212-481-1941 promote license program of famous celeb name Call Paul 212 947-5500 X 100 Development Assistant 646-219-1641. Leading Manhattan Accessories Co. seeks Call 973-564-9236 Jaral Fashion Agency. motivated, detail oriented, individual Office Admin. $25-30K Tech/Design Asst. Designer to $80K. Showrooms & Lofts Current exp. in missy, denim bottoms. BWAY 7TH AVE SIDE STREETS with ability to multi-task & showroom Luxury Advisement Co. seeks upbeat, New contemporary Jeans Line seeks some- MERCHANDISER experience. Excellent telephone and organized, and detail oriented F/T support one with a great style sense and a keen Well-known branded midtown Great ’New’ Office Space Avail company.Call 973-564-9236 Jaral Agcy 2-3 yrs exp. min. in Women’s apparel ADAMS & CO. 212-679-5500 computer skills required. person to answer phones & perform eye for new trends. Must be organized E-mail: [email protected] general clerical duties. Excel skills or related women’s textile. Coord. daily and able to measure & fit garments. Designer $80 to $100K. Current exp. in bet. buyer & overseas office. Bilingual req’d. E-mail resume to Office Mgr. at: Should be exp’d. in Photoshop/Illustrator, contemporary missy full fashion sweaters. Designer [email protected] pref. in Eng/Chinese OR Eng/Korean. Word, and Excel. Great opportunity w/ith Must hang w/habitual Joie, Marc by Marc Fax or E-mail résumé to UE Fashion: growing company. Fax: 212-719-0111 Jacobs, Sleeping on snow, BCBG, Language, 646-473-0175 [email protected] PRODUCT DEVELOPER Vince etc. Call 973-564-9236 Jaral Agcy. TECHNICAL IMMED ASSISTANT Designer Assoc $65-$75K. Current exp. in pri- Designer to $90K. Current exp. in better to vate label woven women’s casual or career STABLE FIRMS For costume jewelry co. Min 1 yr. exp. in bridge contemporary cut & sewn tops. Fashion WOMENS/CHILDRENS Handbag Designer design/merchandising. Import exp. a +. sporstwear. Adapt better to bridge line to mod- vision similar to Theory, Vince, Three Dot, etc erate private label line. Strong knowledge of $40k TO $70k Exciting opportunities available for Email Resume: [email protected] Strong knowledge of cut & sewn fabrics devel. [email protected] Junior handbag designer with 2+ woven fabrics. Preferable to hang w/ Liz Import co. Call 973-564-9236 Agcy. years experience. Must be proficent in Sr.Techn.Dsgnr-60% Knits+ 40% Wovens-Wm’s Claiborne, Jones, Kellwood, Ann Taylor, Designer $110-$125K. Current exp. in mis- Talbots, etc. Call 973-564-9236 Jaral Agcy DSGN (2) - 4-16 GIRLS SPTS OPEN $ Photo Shop / Illustrator. Fax resume: Techn Dsgnr - Sweaters & C.N.S. Knits Est’d import co’s seek exp’d creative sy full-fashion sweaters plus knits. Must 212-268-9861 or email Techn Dsgnr - Woven Bottom WgTs Mainly Tech Designer $60-$80K. Curent exp. individs for Jr-driven girls spts. hang w/ Searle, BeBe, Anthropologie, etc. [email protected] Other [email protected] or in missy full fashion sweaters & cut & Adobe Illustrator. Fashion-forward vision. Fax resume to: (212) 302-1161 sewn knits. Mdtwn. Co. Call 973-564- A.D. FORMAN ASSOC From inception to production approval. DESIGNER (We offer a cash sign on bonus 9236. Jaral Fashion Agency 450 7TH AVE (AGCY) 268-6123 Call 973-564-9236 Jaral Fashion Agcy. for job acceptance) Production Mgr $125-$150 K. Current exp in Sesame Workshop popular priced mass-market kidswear re- Design Assistant to $45K The non profit organization behind PATTERNMAKER quired. A strong exp. in sourcing from Far B-G, Toddlers. Photoshop/ Illustrator Sesame Street is searching for an: East. From inception-completion. Supervise 6. Janet Stevens*Just Mgmt* 800-544-5878 Associate to work 1st pattern, cut sample, Import Traffic Manager [email protected] Apparel & Accessories see to finished product. Able to write Branded fashion apparel house seeks Mdtown co. Call 973-564-9236 Jaral Agcy Design Director spec sheets. Knowledge of Lectra Systems. hard working team player to track Designer to $100K. Current exp. in Jr. Sourcing/Mdser Fax: 718-392-2813 overseas shipments. Work w/ agents, cut & sewn tops that accompany denim We seek a designer who has 7-10 years brokers, truckers, and overseas factories Stable teen bedding co seeks strong experience with infant, toddler, boys bottoms. Must hang w/ Paris Blues, person for growing business. Overseas regarding purchase orders & delivery. Mudd, etc. Call 973-564-9236 Agcy and girls apparel and accessories. The ARTIST 2-3 years exp. L/C knowledge a plus. contacts; great eye for trends. Work designer must be able to develop Leading Girls mfr seeks talented Fax resume/salary requirements to: with design team. Sal $80K+ BOE. SHARE Showroom - 57th St. licensed creative using the latest trends. creative artist to develop fresh art for 212-221-9287 Attn: Josh Benefits/401K. Fax resume: 201-894- Share a lovely showroom/office space on The ideal candidate must be computer 4-16 apparel. Min 2 years children’s ADMIN/PROD ASST 1186; email: [email protected] 57th St. with an est’d., high-end Italian literate. Merchandising experience a experience. Photo Shop/Illustrator. Accessories Co. seeks hardworking KARLYN FASHION RECRUITERS Men’s Accessory Co. Call: 212-541-8120 plus. This is a great opportunity to Please fax resume 212-465-1085 Retail planner Analyst to $95K. Current exp. reliable, detail oriented person to work explore your talents. To be considered, in apparel wholesale co. dealing w/ dept stores in their jewelry div. Take charge Showrooms - 5th Ave + Madison fax or email a cover letter/resume with Div. Head/key account. Sales $180 +++ req’d. Review weekly sales, margins etc. person who is able to perform multi Merchandiser to $80K Lofts - 32-40th Wood Fl. + Light salary requirements to: Current exp. in women’s outerwear & coats w/ Retail Planner $$ open. Min 2 yrs exp as plan- tasks within an emphasis on follow up. Mass Merchants, activewear, daywear, sleepwr Office-Showroom 800 FT. 36th St. Fax: (212) 875 - 6088 or E-mail: strong relationships w/ stores reqrd. Growing ner required. Either retail or wholesale co back- Good communication skills in Word, Jennifer*Just Mgmt* 800-544-5878 Prime Manhattan Jon 212-268-8043 [email protected] multi div. Co. Call 973-564-9236Agcy. ground OK. Call 973-564-9236 Jaral Agcy Excel & Email. Fax res: 212-869-7811 [email protected] WWD, MONDAY, NOVEMBER 15, 2004 31

INVENTROY JONES NEW YORK INTIMATES CONTROL Licensed by Madison Intimate Brands Fast paced fashion Jewelry Company As a leader in Sleepwear/Intimates, we seek highly motivated seeks organized individual for invento- Sales professionals to join our expanding Sales team! ry control manager in LIC facility. Computer skills a must, experience with cycle counts, inventory manage- ACCOUNT EXECUTIVE/DEPT. STORES ment, and overseas factories desired. Must have strong working knowledge of retail math, ability to Experience with dept. stores and mass retailers a plus. Salary commensurate develop seasonal buy plans. Minimum 5+ years experience with experience. in Sales or buying office position. Intimates background a must. Please fax resume to Eric at 718-392-4182 SPECIALTY STORES Merchandiser to $120K. Current exp. in better Must enjoy providing superior customer service, strong follow- to bridge market required. Must hang w/ DKNY, Ann Kline, Jones Signature, Sigrid up skills. Minimum 3+ years selling to Specialty stores and Olsen, etc. Strong product devel exp. Updaet boutiques. Intimate experience, preferred. line. Liason between dept. store buyers and sales vp. Call 973-564-9236 Jaral Fashion Agcy. Positions require great communication and presentation ability; WAREHOUSE along with superb computer skills (excel spreadsheets, word, Brooklyn. Ship/Inventory Supervisors email). Excellent benefits and salary, commensurate to experi- for large import mfr. Growth oppty. ence. Email resume with Subject Header: Acct Exec or Spec Benefits/Sal $40K+. Fax resume: 201- St: Your Name, to: [email protected] 894-1186; email: [email protected] KARLYN FASHION RECRUITERS Pianegonda USA VICE PRESIDENT Pianegoda, a fast growing Italian manufacturer of trendy silver and -RETAIL SALES- gold jewelry, has an immediate opening A&HMfg. Co. the leading for a talented and experienced: ACCOUNT EXECUTIVE manufacturer of accessory This position, based in Miami, Dallas, packaging is seeking a high or New York is directly responsible for energy Sales Professional the growth of key markets in the South- east, Midwest states and New York Area. who possesses sales and/or Min. 2 yrs. exp. as wholesale Account retail experience in the field Executive with luxury industry is required. of accessory, jewelry and This candidate must be able to travel, be detail oriented and have excellent /or packaging. The quali- customer relation skills. Salary, incentives fied candidate must be &/or commissions based on experience degreed and possess a mini- and sales volume. Send your resume Senior Account Executive in confidence to: Fax: (305) 672-6676 or Looking for a seasoned and experi- mum of 5 - 10 years experi- E-mail: [email protected] enced Senior Account Executive. Wom- ence. We also require an en’s Accessory background preferred. Extensive industry knowledge work- individual who is a strong SALES REP ing with major department stores an leader and goal oriented. Expanding, fashion forward, upscale co-managing businesses day-in day- leather handbag line seeking Sales/Road out. Aggressive self-starter along with Rep. Must have experience and contacts sales strategy is a criteria. Essentials This is a high profile posi- with boutique and department stores. include strong computer and analyti- tion reporting directly to the Please email: [email protected] cal skills, extreme fluency in retail President. Excellent commu- math, a passion for the business and highly motivated. nication skills, attention to detail and the strong desire IZOD Please email resume to: to succeed are a must. The LEATHER OUTERWEAR [email protected] successful individual will V.P. SALES or Fax: Attn: MG 212-355-1100 Seeking highly qualified individual to Sales Mgr Handbags $85-100K have a pulse on the fashion direct sales to major dept/specialty 5 yrs + better dept stores industry. Travel is required. chain/catalog/internet business. An ag- Allen*Just Mgmt* 800-544-5878 Salary/Compensation com- gressive self starter with established [email protected] management relationships along with mensurate with experience sales strategy need only apply. We Shearling Garments and education. have broad and deep capability to New, High-End Mfr. seeks Sales Reps capture private label as well as mass w/solid Dept./Specialty Store contacts. Please apply in confidence market/discounter business. Qualified Please Fax resume to: 212-337-0403 candidates fax resume, sales and salary with history requirements history - Attn: President @ 212-921-3338. Children’s Casual Clothing to: Seeking personable, energetic, motivated Casual Footwear P/T Salesperson. Service active wholesale Human Resource Director Well est’d. NJ Co. w/NY Showroom seeks accounts and sell directly to 1,500 kids Salesperson with Jr. Market following to at associated afterschool programs. Ap- P.O. Box 8769 Cranston, Rhode Island sell flip-flops/sandals/slippers to Accessory proximately 16 afternoon hrs/wk req’d. & Shoe Depts. Salary & commission Generous commission and possible small 02920 negotiable. Fax resumes: 201-935-4837 base & benefits for right the person. If you think you can develop a business, this could be your chance to prove it, and head a company with limitless potential. E-mail resume to: [email protected] Children’s Sales People Major Italian designers’ children’s collections seeks to fill sales positions. Various SHOWROOM SALES levels of specific experience welcome. Please Fax resume to: 212-246-0034 Contemporary women’s clothing co. seeks sharp, aggressive, self motivated experienced sales pro- Patternmaker fessional for NY showroom. Expe- Sales Associate (NY Showroom) 5 Yr. Experience Seeking a highly motivated individual Evening wear custom sizes rience 4-5 Yrs. Strong contacts in with selling experience. Must be detail Part time fax resume: 212-629-3004 contemporary market & majors a oriented with good communication skills. must. Must have knowledge of Please Fax resume to: 212-382-2708 kenzie Microsoft Word, Excel & Outlook. Account Executive Should be organized and able to Tiger J a leader in the Faux Fur and multi task and problem solve - ca- Leather Outerwear has an outstanding Join a very fast growing company pable of working alone. Some opportunity for an aggressive Account with excellent commission structure! Executive in our New York office. road work/regional markets Must have relationships with contem- Lingerie licensee for Daywear, Bras necessary. porary department and specialty & Panties, Sleepwear, and Robes Compensation includes Base and stores. 5 years experience req’d. Excel- seeks Independent Sales Reps for lent salary and benefits. Please send Commission resume or email: [email protected] the territories: E-mail resume to •West Coast •Midwest [email protected] •Northeast •Southwest •South NATIONAL ACCOUNT Must have specialty Store accounts EXECUTIVE-OUTERWEAR and major Department Stores in the CHILDRENSWEAR Free Country, is looking contemporary market. Fax/E-mail to: Sales Executive for a unique indiv. who is 610-932-7051 Prestigious fast growing Child- dynamic, engaging & knows [email protected] ren’s showroom is seeking an en- how to connect w/our buyers on both a professional and thusiastic and experienced Sales Anzie Inc. - JEWELRY Executive with previous customer personal level. You will need the right mix of salesmanship, SALES AGENTS base with department stores and Montreal based Designer Jewelry Co. boutiques. Candidate must have personality & org. to work is seeking talented and motivated Sales strong organizational and follow- w/nat’l retailers & must have Agents. Ideal candidates will be exp’d. solid commun. & back office in selling Jewelry / Accessories and be up skills. Computer literate a knowledgeable about semi-precious and must. Great Benefits package. skills. Min 5 yrs apparel or precious stones. Strong Dept., Specialty Please e-mail at: wholesale sales exp. We are Store & Catalog contacts are essential. a professional, team environ. Great opportunity for growth. Call/Fax: [email protected]. Tel: 917-613-4197 / Fax: 514-486-6361 & are looking for long-term or E-mail: [email protected] team members to grow w/us. RETAIL SALES Exec VP/Hi-end fashion/Speak French $125K + Email resume w/cover letter Ladies’ & Men’s Hat Co. Acct Exec/Couture-French designer $55K+ & salary history to: Est’d. co. seeks Independent Sales Rep Asst Store Mgr/Hi-end fashn/NY-Boston $40K [email protected] with major Chain/Discount/Dept. Store FAX: 212-481-4086 [email protected] contacts. Call Steven at: 516-256-0420 Today’s worry-free cotton hotcakesis selling faster than TERS. ® of Cotton Incorporated. Service Registered Mark/Trademark © Incorporated, Cotton 2004. AMERICA’S COTTON PRODUCERS AND IMPOR PRODUCERS AMERICA’S COTTON

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