Urban Traveler and Just Like That, Resort Is Here
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PLUS: Living in Hope: A CANNES OPENER Publishers wait Getting ready for all the action on the for iPad riches Croisette around the Cannes Film Festival. to roll in. STYLE, PAGE 9 STYLE, PAGE 9 WWDWEDNESDAY, MAY 11, 2011 ■ WOMEN’S WEAR DAILY ■ $3.00 FLASH SITES BOOM Vente-Privée Said Set To Unveil U.S. Deal could be American Express. Offi cials By VICKI M. YOUNG at American Express could not be reached for comment by press time. THE COMPETITIVE LANDSCAPE But the financial and credit card for the fl ash sale concept is getting giant is scheduled to make an an- more crowded every day. nouncement on Thursday afternoon Paris-based Vente-Privée.com, that it said is expected to “impact the the largest fl ash sale company in the fashion industry.” world, is expected on Thursday to un- Several speakers are set to par- veil a partnership with a U.S.-based take in the American Express an- fi rm, likely serving as its entrée into nouncement, which is expected at the American market. Officials at around 1:30 p.m. at Eleven Madison Vente- Privée declined to provide de- Park Restaurant in Manhattan, tails, but Jacques-Antoine Granjon, but the name of only one has been the site’s chief executive officer released. That individual is Dan and co-founder, will be in New York Schulman, president of Enterprise Thursday for the unveiling of its U.S. Growth Group at American Express. partner, according to U.S. and over- His responsibilities include strate- seas sources. Summit Partners, which gies to expand alternative mobile and has offi ces in Boston, Palo Alto, Calif., online payment services, and form and London, has held a 20 percent new partnerships geared toward ex- stake in Vente-Privée since 2007. panding and building new revenue Market sources have indicated streams for the fi nancial fi rm. that Vente-Privée’s U.S. partner SEE PAGE 6 IN WWD TODAY Topshop, Times Two PAGE 4 RETAIL: The fast-fashion retailer will unveil its second store in the U.S., a fl agship in Chicago, in September. American Apparel Trims Loss PAGE 8 FINANCIAL: The beleaguered fi rm cuts losses and sees same-store sales stabilizing. Parsons Fetes Reed Krakoff PAGE 7 FASHION: The fashion school honors the Coach creative director as well as Marvin FOR MORE IMAGES, SEE Traub and Arnold Aronson. L WWD.com/ RESORT 2012 fashion-shows-reviews. Urban Traveler And just like that, resort is here. At Bottega Veneta, Tomas Maier took a double- sided approach to the season. “The challenge is to work on the idea of resort as going away, but also as for the city,” he noted. Thus, looks were sporty, some with military touches, done in a muted palette with pops of brights. Maier also is launching his fi rst resort collection for men, which opens for sales next week. PHOTO BY GEORGE CHINSEE 2 WWD WEDNESDAY, MAY 11, 2011 WWD.COM FinanCial laBor Bulgari Posts $13M Net in Qtr. Beasley Tapped for Workers United of the year, compared with 2010, to sup- man of several union-affiliated national By LuiSA ZARgAni port product launches. The executive By kRiSTi ELLiS pension and insurance funds, including underscored the power of Bulgari’s Amalgamated Life insurance co., remains MiLAn — Lifted by growth in all mar- “brand campaigns,” fronted by the likes WASHingTon — Workers united, the on the board of the Amalgamated Bank and kets and product categories at both of Julianne Moore and, more recently main u.S. apparel and textile union, will continue as president of The Sidney retail and wholesale, Bulgari SpA re- kirsten Dunst, the face of the new fra- has elected noel Beasley to succeed em- Hillman Foundation, which supports and turned to the black in the first quar- grance Mon Jasmin noir. “They talk battled president Bruce Raynor, who an- rewards socially conscious journalism. ter ended March 31. The italian jew- about the brand,” enthused Trapani, nounced his resignation last month amid Workers united is said to have 150,000 eler said net profits totaled 9.3 million letting slip that there will be “another charges of misusing his ex- members in the u.S. and euros, or $13 million, compared with celebrity” in ads going forward. pense account. canada, who work in the a loss of 8.3 million euros, or The company is planning two retro- Beasley, who has served as laundry, food service, hospi- $11.4 million, in the same spective exhibitions on the his- director of Workers united’s tality, gaming, apparel, tex- period last year. tory of Bulgari, “125 years chicago and Midwest Regional tile, manufacturing and dis- Sales climbed 27.9 of italian Magnificence,” Joint Board and executive tribution industries. percent to 254.7 mil- in Beijing in September vice president of Workers Beasley was one of the lion euros, or $356.5 and in Shanghai in united, remains a vice presi- union leaders involved in million. December. The shows dent of the Service Employees helping save chicago-based chief executive were previously held international union, of which Hartmarx, the largest men’s officer Francesco in Rome and Paris, the union is an affiliate. wear apparel manufacturer in Trapani told WWD but they will be “This is an extremely dif- the u.S., which filed for bank- that Bulgari’s posi- modified for the ficult period of transition for ruptcy protection after u.S. tive performance china leg. the global trade union move- banks cut off its lines of credit. was to be attributed in Japan, de- ment, and the problems that Noel Beasley Workers united successfully to an improvement of spite the closure our international union must waged sit-ins and demonstra- market conditions, but of stores following confront are complicated,” Beasley said. tions to demand that the banks restructure also to the company’s the earthquake, “But these problems are in many ways re- the company’s debt to save some 3,500 jobs “competitive product de- tsunami and nu- flections of the hard times that now assault in the u.S. and canada. velopment, strong commu- clear tragedy, sales our members, their families and communi- Beasley was also involved in the cam- nication, advancement of its rose 10.7 percent. ties. We must move from defense to offense. paign to save the Hugo Boss plant in shopping experience and cost “Japan held in April, We must reclaim north America for work- cleveland, which employed 400 workers control.” too,” said Trapani. “it’s ing families and stop the attempts to roll last year but was planning to shut down All product categories posted a very complex situation, back virtually every hard-fought victory of and move production offshore. The union a double-digit growth, with sales The with earthquakes still taking the 20th century.” takes credit for pressuring Hugo Boss to in Bulgari’s core jewelry division Serpente place every day, and the nuclear Raynor, who officially stepped down on keep the plant open. rising 29.3 percent, accounting for bracelet. problem, and we are to expect en- Saturday, had been president of Workers “We know how to win for working fam- 44.8 percent of revenues. Watches ergy issues this summer with the united and its two predecessor unions, ilies,” Beasley said. “i look forward to gained 21.9 percent; fragrances, 32.9 need for air conditioning. it’s also psycho- uniTE HERE and uniTE, for the last working with all of our members to con- percent, and accessories, 19 percent. logical, but the Japanese are tough and decade. He will continue to serve as chair- tinue to add to our record of victories.” in particular, Trapani mentioned they will react, although it’s not over yet.” Despite the constantly rising price of raw materials and gold in particular, global political tensions, and debt-ridden FinanCial Chief executive countries, Trapani said “as an entrepre- neur,” he saw “a positive atmosphere,” officer Francesco which he hoped would continue. As of Coach Plans Dual Listing of Shares March 31, the company significantly re- Trapani underscored duced its debt to 132.4 million euros, or The filing is expected to take place with- $185.3 million, compared with 238.7 mil- By Vicki M. Young in the next few months, with approval ob- lion euros, or $327 million, at the end of tained before the end of the calendar year. the power of Bulgari’s March last year. nEW YoRk — coach inc. said Tuesday coach believes that it would be the Trapani also said he will take his that it will pursue a dual listing of its first u.S. domestic issuer to do a second- “brand campaigns.” new post as head of the watch and jew- shares on the Hong kong Stock Exchange ary listing in Hong kong. elry division at LVMH Moët Hennessy through the issuance of Hong kong A source familiar with the firm’s thinking Louis Vuitton on July 1, leaving his cur- Depositary Receipts. said the Shanghai Stock Exchange wasn’t the new Serpente watch for women as rent role. in March, LVMH agreed to The company said no additional an option since it doesn’t yet provide for the “very strong and successful.” He said acquire 50.4 percent of the jeweler in a shares would be issued, nor capital raised listing of international firms. in addition, timepieces had “a great quarter and an cash-and-share swap with the founding through the listing. many Japanese investors, the other market excellent April.” Bulgari family. LVMH plans to make a Lew Frankfort, chairman and chief where the coach brand has a huge following in the quarter, the company invested bid for the remainder of the company executive officer, said, “china is an im- in Asia, already invest directly in the u.S., 7.6 million euros, or $10.6 million, com- and is set to pay 4.3 billion euros, or portant initiative for us.