▲ YSL, CHLOE AND DIOR EMANUEL UNGARO WERE AMONG GETS THE HIGHLIGHTS AS FASHION WEEK IN PARIS ARTY CONTINUED. SEE CHRISTIAN DIOR HAS LINKED WITH ARTIST ANSELM REYLE FOR A NEW COLLECTION. PAGE 6 PAGES 4, 5 AND 7. COLLECTIONS PARIS 2012 WWD SPRING TUESDAY, OCTOBER 4, 2011 Q WOMEN’S WEAR DAILY Q $3.00 EXCLUSIVE Tahari Nears Deal To Buy Malandrino In a signal the two might be in By VICKI M. YOUNG talks, Catherine Malandrino at- tended Elie Tahari’s spring 2012 ELIE TAHARI IS “this close” to show last month during New York finalizing a deal to acquire the Fashion Week at Lincoln Center, al- Catherine Malandrino brand. though she herself did not show her While last-minute negotiations collection this season, as the firm could still derail the transaction, mar- is in “transition.” The spring 2012 ket and financial sources said the two Malandrino collection was instead are far along in the process and that shown informally. The designer did the odds are in favor of a deal being stage an invite-only consumer fash- completed within the next two weeks. ion show for her namesake contem- Lawyers are said to be working on porary label on Fashion’s Night Out. the purchase agreement this week. Financial sources said that while Possible terms of the acquisition were Malandrino is a well-respected not immediately available, but it is be- brand — its contemporary collec- lieved to include some of the debt on tion, Catherine Malandrino, and Malandrino’s books. runway line, Malandrino, have loyal Bernard Aidan, chief executive client bases — the company’s opera- officer at Malandrino, could not be tions are in need of an investor with reached for comment by press time. turnaround expertise. A spokesman for Elie Tahari de- Malandrino has been looking for clined comment. SEE PAGE 12 IN WWD TODAY Penney’s $12M ManPAGE 2 RETAIL: J.C. Penney has recruited Michael R. Francis as its new president, and is paying him a signing bonus of $12 million, which includes some compensation lost in his move from mass retailer Target. Sticker Shock in Textiles PAGE 8 TEXTILES:Visitors to this season’s Première Vision and Texworld shows in Paris saw price increases of up to 50 percent for fall 2012 fabrics, although demand remained high. Sky High in Paris PAGE 9 ▲ EYE: Sky Ferreira took to the stage at Givenchy’s after party, while Dan and Dean Caten had risqué waiters at theirs as the fashion crowd partied away in the City of Light. Curl Up With A Good Look GIANNONI In a collection that was a delightful balance of sporty and sexy, Stella McCartney got all caught up in curlicues — feminine embroidered swirls that formed the GIOVANNI scalloped hems of miniskirts, easy tops and jacket lapels. It made for a charming BY flourish, as seen here on these girly pieces topped with a baseball jacket. PHOTO 2 WWD TUESDAY, OCTOBER 4, 2011 WWD.COM Penney’s Names Francis President Target’s Jason Wu Line in 2008, responsible for all marketing and advertising To Launch in February By DaviD Moin and Sharon EDElSon operations. Target spent $1.5 billion on advertising and marketing last year, up 12 percent from 2009, whereas TarGET SaiD MonDaY that Jason Wu will design a MichaEl r. FranciS is J.c. Penney’s $12 million man. Penney’s budget has exceeded $1 billion in recent years. limited edition collection for the mass retailer, confirm- That’s how much the former Target corp. executive Francis set the tone for Target’s advertising and ing a front page story in WWD Monday. vice president and chief marketing officer is getting as events, which could be irreverent, humorous, edgy and Jason Wu for Target will be a stand-alone de- a signing bonus to join J.c. Penney co. inc. as presi- clever. one of its most popular campaigns was “hello signer collection and will not be part of Go dent — plus a $1.2 million-a-year base salary and 1 mil- Goodbuy,” set to the Beatles song, “hello Goodbye,” with international, Target’s program for partnering with lion restricted stock units on nov. 16. The bonus covers graphic images of household products morphing into young designers, nor will it be part of Designer loss of benefits and compensation upon leaving Target. one another. Under his leadership, Target orchestrated collaborations, a separate program whose partici- Francis was critical in shaping Target’s mass-with- partnerships with Michael Graves, liberty of london pants have included alexander McQueen, anna Sui class aura and innovative marketing campaigns. and, most recently, Missoni. he had a strong hand in de- and Jean Paul Gaultier. Francis, who starts his new job today, will be re- veloping the Missoni commercials, which were based on Jason Wu for Target will be available from Feb. 5 sponsible for Penney’s italian caper films from the through March 6 at most Target stores and on target. merchandising, marketing, Fifties and Sixties. Francis com. The collection will feature women’s apparel, planning and allocation, Michael was also involved in Target’s handbags and scarves, with prices ranging from $19.99 product development and R. Francis experiential marketing, to $59.99 for apparel and $19.99 to $49.99 for handbags sourcing functions. he will such as a 2005 vertical fash- and scarves. report to ron c. Johnson, ion show at 30 rockefeller Wu’s collection for Target embodies the designer’s who becomes Penney’s center in new York, where signature aesthetic of feminine sophistication with chief executive officer in models traversed the side of a mischievous nod to the Sixties. Target corp.’s se- november after heading up the building. nior vice president of apparel and accessories, Trish apple retail. Francis was also respon- adams, called Wu “one of the most influential design- The two are expected to sible for target.com, cor- ers of today. his talent for creating modern, yet femi- bring sweeping changes to porate strategy, corporate nine designs translated beautifully into an affordable Penney’s, which has been reputation management, collection…” striving to cast a younger, the Target Foundation, Wu’s color palette for Target includes navy, red, hipper fashion image with community relations, cor- beige and yellow. such merchandising as porate communications and Target, which had been dropping hints as to the Sephora, olsenboye by the events. in January, he also identity of the next designer collaboration through olsen twins and MnG by became the executive com- its TargetStyle account on Twitter, on Monday Mango, yet still lacks suffi- mittee sponsor of Target’s posted a video on YouTube titled, “ next Designer cient buzz. entrance into canada, the collaboration — Spring 2012.” Johnson and Francis’ ca- retailer’s first internation- The video, which seems to have been filmed in reers overlapped at Target al expansion. “in addition Wu’s studio, shows the designer sketching a look, for 15 years. While they to just moving stores into and reveals snippets of fabrics that will be used in didn’t work directly with canada, the idea was, how the collection, such as a bright yellow nubby fabric one another — Johnson do we extend our brand in- and a print of snowflakelike flowers on a black back- was a senior merchant and ternationally, and Michael ground. items in the video appear to be a black dress Francis was a senior mar- was in charge of our brand with a skinny nude belt and a white woven messen- keting executive — they de- internationally,” a Target ger bag with black trim. Wu is seen sketching a cap- veloped a mutual respect, rf spokeswoman said. sleeve dress with peaked shoulders and a cinched Penney’s said. “This is a O “Michael Francis made waist; however, it couldn’t be learned whether than tremendous opportunity for Nied Target cool when it wasn’t design made it into production. eve me to get back to depart- T cool and he’s going to do the — S.e. ment store retail,” Francis S same at J.c. Penney,” said BY said. “i began my career les Berglass, founder of working on the sales floor PHOTO Berglass + associates exec- of the State Street Marshall utive search firm. “Michael Vautrin Tapped CEO of Cerruti Field’s in chicago. it was Francis is a superstar.” there where my passion for retail began and my under- “Michael is very dynamic, very creative and PariS — cerruti has named catherine vautrin as chief standing of the power and potential of the department strategic. he’s always looking for new, risk-taking executive officer, succeeding Florent Perrichon. store was formed.” ideas,” said Minda Gralnek, former vice president/ cerruti said vautrin would by charged with positioning Johnson recently reached out to another executive creative director at Target, now a consultant, who the brand as a leading player in men’s wear and defining a he’s familiar with, Daniel Walker, the former chief tal- worked for Francis. global strategy to make it a top luxury label. ent officer at apple inc., who earlier worked at Gap “he’s an industry person with a track record who cerruti, which has struggled for several years under inc. and had his own search firm. Walker is now a con- also thinks outside the box,” added Jaimee Marshall, a revolving door of designers, was purchased last sultant to Penney’s, which raises speculation that the senior vice president, Kirk Palmer & associates. December by chinese men’s wear giant Trinity ltd., a Plano, Tex.-based department store chain might seek Given some changes at Target on the creative side, division of li & Fung.