Star Bright

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McCartney’s
green
honors,
page 4.
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FASHION: First Lady
Michelle Obama wears
Thakoon on way to
London, page 3.
WWDWEDNESDAY
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Sportswear
Star Bright
PHOTO BY TALAYA CENTENO; HAIR BY KIYAH WRIGHT FOR GOLDFINGER CREATIVE; MAKEUP BY YOLONDA FREDERICK/SHU UEMURA; FASHION ASSISTANT: JILLIAN HUGELE; STYLED BY MAYTE ALLENDE
A new album, “Fantasy Ride,” isn’t the only thing Ciara’s
unveiling this spring. The Grammy-winning R&B artist has
a new superchic — and superhero — style. Here, she
goes power-glam in Rubin Singer’s metal and silk lamé
dress. Catherine Malandrino belt; bracelets by Alexis
Bittar and Erickson Beamon; Hue tights and Christian
Louboutin shoes. For more, see pages 6 and 7.
Fear and Closings:
Once-Booming Vegas
Hits Economic Wall
By Anne Riley-Katz and Rachel Brown
LAS VEGAS — "MPOHXJOOJOHTUSFBLDPVMECF
ending for retailers here, marking a new phase
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in sight.
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for the coming year; we don’t want to
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Vegas hotel-casino.
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See Retail, Page 12
2
WWD, WEDNESDAY, APRIL 1, 2009
WWD.COM
WWDWEDNESDAY
Resort Season Becoming Scaled-Back Affair
By Miles Socha
PARIS — It looks like the resort bubble may have
finally burst.
Christian Dior, which last May staged a
splashy, celebrity-studded megashow in New
York, is skipping the runway this season, WWD
has learned. And Gucci, which has staged runway
shows in New York and Rome for its cruise collection, is opting instead for a presentation at its
New York flagship boutique on June 15 and 16.
Dior plans to present its collection to buyers
in Paris and New York, but dates and details
have yet to be finalized, according to a spokesman for the French fashion house.
The scaling back leaves Chanel alone among big
European houses staging full-scale runway shows
for cruise, a selling season that had accrued more
glamour, hype and showmanship in recent years.
As reported, Karl Lagerfeld is heading to Venice
May 14 to show Chanel’s latest cruise collection at
the Excelsior Resort’s Lido Beach, with about 350
guests expected. Privately held Chanel has staged
fashion shows for cruise for about a decade, including on boats, buses and in an airport hangar, the
models disembarking from a CC-logo jet.
Gucci led the way to a bigger and more pro-
tracted cruise season when it staged its first
show for the interim season in lower Manhattan’s
Gagosian Gallery in 2005. Dior joined the New
York cruise calendar in 2006, and Oscar de la
Renta staged an extravaganza of his own at the
Morgan Library.
De la Renta is planning to have a resort show on
June 1, but the location has yet to be determined.
Alberta Ferretti jumped the Atlantic in 2007
to show her cruise, a one-time appearance, while
Proenza Schouler and Thakoon were among
younger brands who showed resort collections for
the first time. Contemporary brand Milla went further that year and flew about 75 fashion editors to
a resort in Mexico to experience the collection.
Last year, while luxury was still riding high,
Dior opened the resort marathon in mid-May with
a poolside fashion fiesta at Guastavino’s attended
by Jennifer Lopez, Charlize Theron, Christina
Aguilera, Leighton Meester and Ziyi Zhang.
Last June, Diane von Furstenberg headed for
Florence at the invitation of Pitti Immagine with
a collection that hailed back to the fashionably
wealthy American on vacation with a whiff of
“The Talented Mr. Ripley.” The season wrapped
up July 8 when Gucci designer Frida Giannini
showed cruise in Rome at its renovated flagship.
Sportswear
FASHION
and R&B star Ciara, whose third album,
6 Pop
“Fantasy Ride,” drops May 5, is magnetic to the
point of posing a safety risk.
GENERAL
discretionary spending, the foundation
1 Reduced
of Las Vegas commerce, is causing pain from the
cash registers to the casinos.
Inc. will be back in bankruptcy court
2 Gottschalks
today, this time to get approval for a consortium
of liquidators to wind down its operations.
Ceremony, the bicoastal specialty
2 Opening
boutique known for its Olympic-inspired concept,
revealed plans to open its first store in Japan.
Tommy Hilfiger opened its
8 MAINSTREAM:
first store in East Hampton, N.Y., last week, a
1,850-square-foot store at 69 Main Street.
improvements, significant tariff and
9 Despite
nontariff barriers continue to hamper U.S. trade
with China and other countries, the USTR said.
OECD issued a dire outlook for world output,
9 The
forecasting it to contract 2.7 percent this year and
Gottschalks Liquidation Set for Court Hearing
GOTTSCHALKS INC. WILL BE BACK IN
Delaware bankruptcy court today, this time to
get approval for a consortium of liquidators to
wind down its operations.
The winning bid for the 105-year-old firm was
from liquidators Great American Group, Tiger
Capital Group, SB Capital Group and Hudson
Capital Partners. The group outbid two other
parties for the Fresno, Calif.-based firm on
Monday night.
Lawrence Gottlieb of Cooley Godward Kronish
LLP, which represents unsecured creditors, said
the consortium won the bid at 98 percent of the
cost of inventory, which wasn’t specified. He said it
was too soon to tell how much creditors might get
in recovery, but noted “we now expect that there
will be a distribution to unsecured creditors.”
Presuming court approval is received, going-out-of-business sales could start as early as
Thursday and are expected to conclude by July
15, according to Gottschalks.
EYE
S
By Vicki M. Young
world trade to decline 13.2 percent.
Jim Famalette, Gottschalks’ chairman and
chief executive officer, said, “Despite all our efforts at earnest negotiations, we were unable to
reach an agreement with our creditors, lenders
and bidders to structure a going concern bid by
the court-imposed deadline. Regrettably, liquidation is now the only path for our company.”
Bids were expected from competing liquidator Gordon Brothers, as well as Shandong
Commercial Group General Corp., a Chinese retailer that was considered Gottschalks’ last hope
to exit bankruptcy as a going concern.
Gottschalks filed for bankruptcy in Delaware
in January.
Many of its 58 stores are in California, which
has already been hurt by the bankruptcy and liquidation last year of Mervyns. The ascendancy of
Kohl’s Corp. in the West also was seen as damaging to the indigenous department store group.
Gottschalks operates 55 department stores and
three specialty apparel stores in six Western states.
Next up for Gottschalks is an auction of its
leases and retail store sites.
Stella McCartney
in her own design.
TO E-MAIL REPORTERS AND EDITORS AT WWD, THE ADDRESS IS
[email protected], USING THE INDIVIDUAL’S NAME.
WWD IS A REGISTERED TRADEMARK OF ADVANCE MAGAZINE PUBLISHERS INC. COPYRIGHT ©2009
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DAILY
She’s a dream
QUOTE “customer.”
— Thakoon Panichgul on First Lady
Michelle Obama, who wore his coat,
and later a Jason Wu dress,
on her visit to London. Page 3.
Ciara in
Jen Kao’s
jacket and
LNA’s skirt.
Alexandre
Herchcovitch
gloves.
TODAY ON
WWD
.COM
PHOTO BY TALAYA CENTENO
IT’S ONWARD AND EASTWARD FOR OPENING
Ceremony.
On Tuesday, the bicoastal specialty boutique known for its Olympic-inspired concept
and downtown sensibility revealed plans to open
its first store in Japan this
fall. The project is the result of a partnership with
Onward Holdings Co.
Ltd., which, according to
Opening Ceremony co-owner Humberto Leon, purchased rights to the Opening
Ceremony trademark in the
Japanese market.
Leon said he and his business partner, Carol Lim, had
been eyeing Japan for some
time, but it wasn’t until they
were approached by Onward,
the $2.74 billion Japanese retail giant that also owns Jil
Sander, that definite plans
took shape. “We wanted to
make sure we found the right
partners,” said Leon in an exOpening Ceremony’s
clusive phone interview from
New York store.
Tokyo, where a press conference will be held today.
While Onward is financing the Tokyo store,
Leon is firm about his and Lim’s creative contributions. “Carol and I are very much involved in the
entire process of the opening, the buying, everything,” he said. “We’re working really closely with
the team to make that happen.” Thus, Leon said
they are looking to create an “exaggerated version
of our Los Angeles store,” which he describes as a
“mini-mall concept” full of shop-in-shops (labels
are to be determined), as well as home and food
components that will be unique to the Tokyo store.
A space has yet to be designated, but Leon said
they are looking for “double
the size of the L.A. store,” or
roughly 10,000 square feet,
all of which will be designed
by the Los Angeles-based
firm Commune.
Leon and Lim opened
their first store on Howard
Street in New York in 2002,
followed by a Los Angeles
outpost in 2007. It quickly
caught on thanks to its
unique approach to retail —
the core concept is a riff on
the Olympic Games whereby
designers from a particular country are spotlighted
each year — and exclusive
collaborations with Nike,
Chloë Sevigny and, most recently, Betsey Johnson.
Asia — Japan in particular — has always been something of a fascination for
Leon and Lim. Not only is
Japan the current subject of
Opening Ceremony’s international rotation, but
as Leon put it, “Asia was always the inspiration
for us because it was the energy of the shopping
[there] that inspired us to open up a store in New
York. It was only a matter of time before we came
back to Asia.”
group proved green is good.
Classified Advertisements.................................................................................................15
Opening Ceremony Headed to Japan
By Jessica Iredale and Amanda Kaiser
its Forces for Nature gala Monday night, the
4 With
Natural Resources Defense Council environmental
s Ciara talks about fashion,
superheroes and Justin Timberlake
in a behind-the-scenes video
s Back in Time: Tyra Banks’ first
foray into Hollywood in 1995
s Additional images from the NRDC
event honoring Stella McCartney
s More photos of Gucci’s
new look London store
s Global breaking news
WWD, WEDNESDAY, APRIL 1, 2009 3
WWD.COM
London Readies First Lady Waves Fashion Flag
For G-20 Protests
PHOTO BY UPI PHOTO/LANDOV
The Royal Exchange at the heart
of London’s financial center.
By Louise Bartlett
LONDON — Businesses here have gone into lockdown mode in
President Obama leaving the White House
with Michelle, who is wearing Thakoon.
THAKOON PHOTO BY MARK WILSON/GETTY IMAGES; WU BY CHRIS RADBURN/WPA POOL/GETTY IMAGES
anticipation of mass protests and demonstrations surrounding
the G-20 summit. Although the summit does not take place until
Thursday, the marches kick off today and will converge at the
Bank of England in the City of London.
The five-star Ritz Hotel on Piccadilly, several miles from
the bank’s location, has already boarded up its windows in anticipation of possible attacks by anarchist groups from across
Europe, which are taking part in the series of planned “G-20
Meltdown” marches.
London’s iconic red phone booths have already been removed from the City, London’s financial district, for fear they
might be used to facilitate attacks, while many retailers in the
area plan to shut for fear the marches may turn violent.
“Businesses should remain vigilant at all times,” warned
the City of London Police on its Web site. “Banks and financial
premises are the targets of the protests although this could extend to all premises in the City.”
A spokeswoman for the Royal Exchange, the historic shopping arcade opposite the Bank of England that houses brands
including Gucci, Hermès and Agent Provocateur, confirmed
many of the stores plan to close. Others, she said, have planned
increased security.
“Jo Malone’s store at the Royal Exchange will close as a precautionary measure to protect the team,” said Jill Whitwell, retail director at the beauty brand, which is owned by the Estée
Lauder Cos. Inc.
A spokeswoman for Lulu Guinness, which also has a unit
in the Royal Exchange, said the store will remain open on
Wednesday, but she expects business to be “completely dead.”
“We don’t have any extra security, but there is a security
guard in the Royal Exchange building. Unfortunately, as we are
on the outside, it is slightly exposed,” she said.
One clothing store manager at Leadenhall Market, which is
two blocks from the Bank of England, has been advised to keep
the store’s door locked unless a customer wishes to enter.
Colin Stanbridge, chief executive of the London Chamber
of Commerce and Industry (LCCI), told City workers last week
that they should consider wearing more casual clothing, and
staggering staff arrival and departures. Even dress-down favorites such as chinos and loafers have been vetoed for making
workers too easily identifiable. Not all is so serious, though:
Angels, London’s biggest costume business, is offering City
workers free punk-style wigs to wear for the day if they present
a business card proving they work in the area.
Meanwhile, even those who never travel to the City will be
affected by the massive traffic jams expected from the arrival
of the world leaders — whose entourages shuttling around town
will only increase the British capital’s notoriously gridlocked
traffic even on good days.
President Obama and his wife Michelle arrived in London
late Tuesday, and will be staying at Winfield House, the U.S.
Ambassador’s residence in Regent’s Park (see sidebar). Today,
Obama has a 9 a.m. meeting scheduled with Prime Minister
Gordon Brown at Downing Street — which will require him to
cross through central London. Later on today, he and the First
Lady plan to meet Queen Elizabeth II at Buckingham Palace
nearby.
After the Buckingham Palace reception, Britain’s First Lady
Sarah Brown will hold a dinner at Downing Street for the husbands and wives of the 20 global leaders. Jamie Oliver will prepare the meal, while the post-dinner goody bags will be filled
with sweets from the Chelsea, London-based Rococo Chocolates
and neckties from Savile Row tailor Ozwald Boateng.
The actual summit will take place at East London’s ExCel
Centre Thursday, a stone’s throw away from Canary Wharf,
where many of the global banks are based.
The First Lady arriving in
London wearing Jason Wu.
M
MICHELLE
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first official trip to Europe with style — and a
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young, emerging talent.
On Tuesday, she stepped onto Air Force
One in a ivory tulle tweed custom-made
Thakoon coat. Several hours later, she
stepped off the plane in London wearing
Jason Wu’s chartreuse silk crepe short sleeve
sheath dress with shawl collar.
“She knows what she likes, and she’ll wear
it with great comfort and confidence,” said
Thakoon designer Thakoon Panichgul. “She’s
a dream customer.”
Wu said the First Lady has had the chartreuse dress for a while — it was part of a
wardrobe he designed for her earlier in the
year. “I had no idea she was going to wear
it,” Wu said.
He said he designed the dress without
knowing the occasion, but felt she picked
the right moment to wear it. “Yellow is such
a great color, and it’s nice that we are seeing spring right now,” Wu said. “It’s definitely
very optimistic.”
Wu is becoming quite a regular choice
for the First Lady. In addition to his off-theshoulder white dress embellished with organza flowers and Swarovski crystals for the
inaugural balls, she recently wore one of Wu’s
dresses while giving a tour of the White House
kitchen prior to the Governors’ Dinner.
Wu was in London last week and already
sensed the city’s excitement about the presidential visit. “It’s so assuring that even on
European ground, she is wearing American
designers,” he said.
— Marc Karimzadeh
4
WWD, WEDNESDAY, APRIL 1, 2009
WWD.COM
MODEL CITIZEN
Diane von Furstenberg, Aerin Lauder
and Ali Hewson
Hewson.
Kathy Freston in Bruno Pieters
with Wendi Murdoch in Alberta
Ferretti.
Elisabeth Moss
in Theory with
Fred Armisen.
MILLING ABOUT
KEBEDE PHOTO BY TALAYA CENTENO; ALBUM COVER COURTESY OF MIKE MILLS/DAMIANI EDITORE; ALL OTHERS EXCEPT LEMLEM BY STEVE EICHNER
Zhang Ziyi
in Stella
McCartney.
Paul McCartney with Nancy
Shevell in Stella McCartney.
Alec Baldwin
in Dunhill.
Au Naturale
WITH ITS FORCES FOR NATURE GALA MONDAY
night, the Natural Resources Defense Council
proved that green is good. The environmental
group gave back to the planet (daffodil centerpieces were being replanted in a children’s park),
cut costs (a vegetarian meal is cheaper than rubber
chicken) and managed to find professional comedians who could
actually get a laugh from a crowd like this.
“I usually tell jokes on Saturday night at 11:30,” said Seth Meyers
of “Saturday Night Live.” “Not on Monday at 9 p.m., at a church, for
people who just spent upwards of $2,000 on a vegetarian dinner.”
Meyers was one of many SNL cast members in attendance
at 583 Park Avenue, at the prodding of their boss Lorne Michaels,
who was one of the evening’s chairs. “I’d do whatever [Lorne]
tells me,” Meyers said. “If he were to say that global warming
was bulls--- I’d be out of here.”
Michaels knows better, and so the actor stuck around, as did
partygoers including Tom and Kathy Freston, Barry Diller and Diane von
Furstenberg, Graydon and Anna Carter, Robert F. Kennedy Jr., Ron Perelman
and Zhang Ziyi. Host Alec Baldwin bragged to the audience that he had
arrived to the event in “an energy-saving hybrid car. Sure, I was followed by six bodyguards in two Hummers, but the effort was there.”
Chances are honorees Stella McCartney and Discovery Channel chief
David Zaslav made more sincere strides toward keeping the evening
as carbon neutral as possible. “A love of nature has been instilled in
[Stella] as she grew up,” said her father Sir Paul, accompanied by his
girlfriend Nancy Shevell. “But I don’t want to take any credit. She’s a
smart girl. When she came in to the fashion industry, she came in to
Gucci, which is leather city. I was really wondering how
long it would be before she’d have to cave in to the economS Stella McCartney
ic pressures, but she just hung in there.”
in her own design.
Though Stella was gracious in receiving her father’s
praise, she wasn’t exactly comfortable in the spotlight. “I try to avoid this kind
of recognition because it can pigeonhole you,” she said. “It’s my job to make
people not notice that I’m working in a slightly more responsible way.”
Fair enough, but there was no not noticing the killer, synthetic thigh-high
boots she was wearing. “I don’t want people to buy my stuff because they
know it’s not leather,” she said with a smile. “I just want
For more, see WWD.com. them to want the boots.”
GRAPHIC DESIGNER-ARTIST-INDEPENDENT FILMMAKER Mike
Mills’ work defies categorization, but at least there’s a book to
make sense of it all — “Mike Mills: Graphics/Films,” out now from
Damiani Editore. Included is his work for Marc Jacobs, Colette and
bands like Air, Sonic Youth and the Beastie Boys, as well as his
2005 film “Thumbsucker” and Human, his Japan-produced line
of fabrics, posters and ribbons. “I do lots of different things, but
they tend to be presented in different contexts,” says the 42-yearold, who also cofounded The Directors Bureau, a commercial and
music video agency, with Roman Coppola. “The idea of the book
was to show how these things are integrated and are not just a
mistake.”
ROCK STAR DREAMS: “I’ve always been jealous of bands,” says
Mills, who briefly had his own group, Butter 08, and has done
music videos for Moby, Blonde Redhead and Everything But the
Mills’ cover for the 1995
Girl. “I’ve really been trying to emulate that whole mode of delivery
Sonic Youth album,
and its cultural profile.” To reach a nonart world audience, the
“Washing Machine.”
designer launched the affordable Human collection, which is
designed on a “whatever the heck’s going on with me” schedule.
MULTITASKER: “It’s hard to explain to your parents and the world at large that you want to have this varied feeling,”
says the Cooper Union grad, who emulates figures like the Eames brothers and Bauhaus member (and Vogue art
director) Herbert Bayer.
BIG IN JAPAN: Mills has a following in Japan, which he visits once or twice a year. “They are so high-level on graphics
and visual culture. It’s just so alive. And if they are into something, they study it. So from the first time I went there
people knew everything I did.”
UP NEXT: After semiretiring from making commercials for corporate giants like Nike, Gap, Apple and Volkswagen (“I
tried to quit,” he says, “but I still find myself doing one or so a year, partially to make money,”) Mills is focusing on
his next feature narrative film. “It’s about family stuff and relationships. It integrates more of the things I do than the
other films I’ve done.”
— Elisa Lipsky-Karasz
LIYA KEBEDE IS ALMOST ANNOYINGLY PERFECT.
Pretty, classic looks? Check. Handsome hedgefund-manager husband and two adorable
children? Check. Still in demand to open
fashion shows despite being 15 years older
than most other models? Check. And she
spends a significant portion of her time
doing good works? Come on.
But it’s true. These days, the Ethiopian
native acts as Goodwill Ambassador for the World
Health Organization and heads an eponymous foundation
to benefit her home country, all while tending to a nascent
acting career and a fledgling children’s line, LemLem.
The collection, whose name means “flourish,” or “bloom,”
in Amharic, is no vanity project. Kebede started the line
in order to provide employment for traditional Ethiopian
weavers. “They don’t have a market anymore. I wanted to
give them a way to showcase their art and get money from
it,” explains the 31-year-old, who decided to design for kids
because she is an avid shopper for her own young son and
daughter. The results — cotton bloomers, shirts, onesies and
dresses — have proved irresistible to mums, so much so that
shirts and scarves are now being made in adult sizes.
Though production is very small-scale (indeed, a
cardboard box of clothes arrives direct from Addis Ababa to
LemLem’s Chelsea studio as Kebede explains the line), six
pieces are exclusive to J. Crew in a first-time collaboration,
and others will be sold online and at retailers in Paris and
London. The extra business gels with Kebede’s plan to
encourage industry rather than simply dole out handouts.
Liya Kebede at her desk
in the LemLem studio.
Above: A LemLem with
Crewcuts party dress.
They think we are nutcases....
“We’re
like, ‘No, trust us.’
”
— Liya Kebede
“I thought this [collaboration] was the right fit because it
brings the Western market to them,” she says.
Of course, the male weavers are not accustomed to working
at the intense pace of the New York City fashion industry.
“They think we are nutcases,” she laughs. “They don’t
understand why we want [something] done two millimeters
differently. We’re like, ‘No, trust us.’ ”
“Liya is incredibly invested in having this project work and
having it be viable,” says J. Crew’s creative director Jenna Lyons.
Kebede put an equal amount of diligence into her turn on
the big screen in the upcoming “Desert Flower,” a biopic of
Somalian model-turned-activist Waris Dirie — so much so that
cast and crew took to calling her Waris during the shoot. Kebede,
who made her film debut in 2005’s “Lord of War” and appeared
in “The Good Shepherd,” won the role out of 500 hopefuls
based on her audition tape. “Only afterwards did we learn that
she is a top model,” says the movie’s German director, Peter
Hermann. To test her mettle, he threw her in with professional
actors from Munich’s Bavarian Staatstheater for a second
audition. “We didn’t make it easy for her,” he says.
As for modeling, Kebede still enjoys it. “I take pleasure in
the process,” she explains. But, she says, discrimination persists
in the industry despite all the recent attention to race, including
Italian Vogue’s famous “Black Issue,” in which she appeared.
“I’ve had clients saying, ‘We can’t use her because she’s black,’ ”
she says. “You say, ‘OK, fine,’ and you move on. I’ve been lucky
about it, but even today it will happen and I won’t be shocked.”
“The fact that there has been all this talk about it has
helped. And I really think that Michelle and Barack Obama
have helped,” continues Kebede, who met the President at
a campaign fund-raiser. “I’m a bit more optimistic this time
around.” And should her daughter want to model, Kebede says
she would be supportive. “I wouldn’t want her to start early. But
if she is around 18 or 19, I wouldn’t mind. It’s a tough industry,
but I’ve done it and it’s been quite OK with me.”
— E.L.K.
WWD, WEDNESDAY, APRIL 1, 2009 5
WWD.COM
Di Marco Takes Hands-on Approach at Gucci
By Luisa Zargani
Here and below: Inside and outside Gucci’s Sloane Street store.
MILAN — It’s not every day you see a chief executive officer of a
$3.2 billion business patiently waiting in line at the canteen of
the manufacturing plant he oversees. Nor are the artisans used
to being asked for their opinion on the future of the company
for which they cut and stitch hides by hand each day.
This, however, is Patrizio di Marco’s modus operandi at
Gucci. In his first days at the company, di Marco, who joined the
brand as president and ceo on Jan. 1, chose to shake hands with
each worker at the Casellina plant in Tuscany and get the answer to a straight question directly from those who craft those
famed double-G logoed hobos.
“What would you do? This is the most difficult question to
answer,” said di Marco at Gucci’s Milan showroom during his
first interview since taking the helm. “My priority was to meet
the workers, to go and see how things worked and check out the
production. People are the miracle [in a business] and nobody
is an island.
“I hate it when you only talk to those directly reporting to
you — you don’t create a team,” said the effusive and personable executive, whose track record includes the turnaround of
Bottega Veneta as that firm’s president and ceo. Di Marco replaced Mark Lee at Gucci, and has held executive positions at
Louis Vuitton Americas, Celine and Prada.
“It’s my karma,” he joked of taking over one of the world’s
major luxury brands in the midst of a recession and curbed
consumer spending. When di Marco joined Bottega Veneta, the
brand had lost direction and he had to face the post-9/11 downturn. While Gucci has grown 46 percent over the past three years,
the new ceo does face one of the worst economies in decades.
But he has a clear vision for the brand. Peppering his conversation with references to Gucci’s history, the executive is focused
on leveraging one of the company’s main assets — its deeply rooted craftsmanship. “Gucci’s competence is absolutely exceptional,” said di Marco, who believes in preserving the brand’s Made
in Italy production and shuns outsourcing. “This is not about protectionism, but can you imagine a Ferrari being made outside
Modena? I’m not sure luxury is about outsourcing,” he said.
For more images of Gucci, see WWD.com.
Patrizio
di Marco
People are the miracle [in a
“business]
and nobody is an island.
”
Responding to his own question about steps that need to be
taken, di Marco is set on emphasizing quality. “Especially now,
value and price are increasingly more important and fundamental — as much as the product offer,” he said. “Many companies feel privileged, leveraging on the brand, in the belief
that the product will sell anyway. That’s abusive, because the
customer is king and as such must be treated that way.”
Di Marco recalled his first meeting with creative director
Frida Giannini to the date. “It was on Oct. 10, in her office, and
we talked six hours straight,” he said. Di Marco said he wanted
to understand how big the merchandising aspect was for the
designer. “I was under the impression that the collections were
excessively large and wide ranging, both in terms of leather
goods and fashion,” said the executive. “Frida is extremely cooperative in merchandising and open to offer new trends, but
there were too many materials, in too many variations. This
creates confusion in the mind of the customer, and has less
shelf life — it’s more similar to fast fashion.”
Along the same lines, Gucci will rationalize its offer of jewelry
and watches, two categories that have been suffering over the past
few months. “There was a puzzling variety, and we are fine tuning
our watches. By [the watch and jewelry trade exhibition in] Basel
next year, it will be an entirely different collection,” he said.
Also, di Marco wondered why those items that are more difficult to sell, such as a more precious crocodile bag, were not easily found at wholesale accounts or even in Gucci’s own stores.
Giannini was equally supportive of di Marco, whom she described as “very charismatic and a strong leader — qualities
that are enhanced by his communicative nature.”
“We often sit to talk about strategies, and if we don’t agree,
everything happens with great fair play,” she said. “In addition,
we have fun working together thanks to his sense of humor.”
While saying it was too early to discuss details, future projects may involve a number of lifestyle, product extensions.
“There are so many categories that we could legitimately do
without diluting the brand,” said di Marco, referring to the
house’s history. “There used to be so many products under the
Gucci brand — even place cards in silver, and Gucci stood for a
specific jet-set style.”
In February, François-Henri Pinault, chairman of Gucci
Group parent PPR, said for the full 2008, Gucci brand sales improved 1.4 percent to 2.2 billion euros, or $3.25 billion, and that,
in 2009, investments at the Gucci brand will be cut 13 percent,
with most capital expenditure funneled into store openings in
Asia, where business continues to grow, albeit at a slower rate.
China in particular is one of the most dynamic areas of
retail growth for the brand, said di Marco, and Gucci will
open its 28th store in Mainland China at the end of May — a
PHOTOS BY TIM JENKINS
— Patrizio di Marco, Gucci
17,280-square-foot flagship in Shanghai. This is the first conceived by
Giannini in Mainland China, modeled after the new-generation stores
in New York, Rome, Munich, Hong Kong and London — which has been
refurbished as per the designer’s concept and reopens this week. The
20,000-square-foot store at 18 Sloane Street spans three levels and, with
its Art Deco feel and ample natural light, is one of 10 directly operated
Gucci units in London and 16 in the U.K.
The Sloane Street unit sells the full Gucci collection in addition to
a limited edition, Sloaney Bag line created to celebrate the reopening.
The Sloaney collection features blue leather double-G bags covered in
a Union Jack design with the Gucci logo and coronet, and blue crocodile luggage and bags. The store will also sell an exclusive jewelry
set — necklace, earrings and ring — designed by Giannini. It features
18-carat white gold, diamond and aquamarine stones, and is inspired
by the Gucci horse bit motif.
Di Marco, who flew to London to mark the reopening on Wednesday,
said the market remains robust for the brand due to factors including a strong, local client base; tourist traffic; the relative weakness of
the pound and the British government’s recent move to reduce value
added tax (VAT) to 15 percent from 17.5 percent.
He said that historically, the Sloane Street store has been strong in
rtw, with 30 to 35 percent of overall sales coming from that category.
While the company declined to give sales projections or figures, an industry source said year-on-year sales in March doubled at the store,
which remained open during the refurbishment.
Tonight British Vogue editor Alexandra Shulman will host a dinner in
honor of Giannini at the new Saatchi Gallery on the King’s Road. The 150
guests will include Roisin Murphy, Claudia Schiffer, Sophie Dahl, Jamie
Cullum, Tom Parker Bowles and Ben Elliot. Richard Ashcroft, lead singer
of The Verve, will give an acoustic performance after dinner.
“A company such as Gucci must continue to invest, open stores, relocate and refurbish without stopping,” said di Marco, who is more inclined today to adapt a store concept to each different location. Over
70 percent of Gucci’s revenues are generated from its directly operated
store network, a total of 258 at the end of December. The executive is
planning an event to mark the China opening in May, “something different from a show,” and Giannini is expected to visit both Shanghai
and Beijing, where Gucci has five stores.
As for the U.S. market, di Marco said Gucci is well covered in terms
of direct stores and is evaluating different forms of collaborations with
department stores. “We have great partners, but the direct channel or
a joint venture are the ideal solutions for me, especially because of the
services we can offer — there is more control,” said di Marco.
The American customer’s “psychological block and mental attitude”
toward walking into stores and spending has spiked online sales for
the brand. Gucci first entered e-commerce in the U.S. in 2002, and now
sells all product categories online in 10 countries. Over the past few
months, the company has started exploring social networks, reporting
almost 400,000 supporters on Facebook.
Looking ahead, di Marco has a “reasonable and realistic” approach,
confident more can be done with fewer resources. “It’s too easy to say
there are less resources; I make do with less anyway, with staff numbering a little below the ideal, for example, because one of the worst
possible things to do is to fire people,” said di Marco. “It’s difficult to
maintain one’s feet on the ground, to be pragmatic and balanced in
difficult moments, but this is precisely when you see the qualities of a
company. I’m reasonably optimistic, and I’d be content as long as our
resources are used in the best possible way.”
— With contributions from Samantha Conti, London
6
WWD, WEDNESDAY, APRIL 1, 2009
“toI’vejuststarted
take
on that
mind-set —
‘Try it!
Try something
different.
You can
do this! ’
”
Trasteverine’s
cotton top and
Rag & Bone’s
cotton and Lyocell
leggings. Manolo
Blahnik shoes.
SUPER
CIARA PRINCESS HARRIS — CIARA TO HER FANS —
brings three publicists, a personal assistant, a bodyguard
and two rodent-sized dogs to her WWD photo shoot.
Travel light, she does not. But there is nothing else diva
about the multiplatinum pop and R&B star; she’s unceasingly polite, energetic and game for just about anything
during the eight-hour shoot. Plus, staying fresh is what
pop music is all about, and reinvention à la
Madonna what its female stars must aspire to.
So who can fault Ciara — whose third album,
“Fantasy Ride” (LaFace/Jive), drops May 5
— for her team of image custodians? Even
the bodyguard lends an aura of white-hotness to the 23-year-old: She is magnetic to
the point of posing a safety risk.
Speaking of risks — and if the Richard
Prince for Louis Vuitton bag on her arm is any
indication — Ciara (pronounced SEE-era) has
of late been taking a few herself, of the fashionforward, supervixen sort. It’s a departure for the
Grammy winner, who in the past has opted for sportystreet styles and was even featured in a 2007 ad campaign for Jay-Z’s junior streetwear label, Rocawear.
“I’m all about the power and the strength right now,” Ciara
says. “I’ve started to just take on that mind-set — ‘Try it! Try something different. You can do this!’” Take the video for “Go Girl.” She is a sleek and sultry
secretary one minute — with a black bob, black lips and a black smoking (a look seemingly
plucked from Yves Saint Laurent’s fall ’08 runway) — and a metal bikini-clad, Mugler-esque
superheroine the next. And in the video for her chart-topping duet with Justin Timberlake,
“Love Sex Magic,” Ciara slithers around her costar in monochromatic bodysuits and heels. She’ll
also be rocking a power-babe look when she opens for Britney Spears’ Circus Tour in the United
Kingdom. Then there’s her “Fantasy Ride” album artwork, designed by Marvel Comics’ Bernard
Chang, which depicts Ciara as her superhero alter ego, Super C.
Gone are the days of swimwear-as-daywear, one of the singer’s sartorial standbys during
the promotion of her first album, 2004’s “Goodies,” released when she was 18. For better or
worse, that look — one-pieces worn with low-rise jeans or bikini tops paired with baggy
track pants — was all Ciara’s idea. “From the very beginning, it was always a reflection of
me. I was very vocal, always vocal,” she says of her early style. “It worked for me at that
time, and [the label] just let me roll with it.”
To be fair, Ciara’s “Fantasy Ride” push is not unlike those of other pop music starlets, who have successfully used the release of a new album to herald a dramatic
change, whether image- or sound-related (ideally, both). “The Emancipation of
Mimi,” for example, famously reignited Mariah Carey’s waning career in 2005.
And Rihanna was a sunny R&B singer with two albums under her belt until
2007’s “Good Girl Gone Bad” turned the Barbados-born performer into a fierce
fashionista and umbrella-wielding international sensation. However, Ciara
seems even more in control of her look five years — and millions of records
— after her debut.
For this album, the follow-up to 2006’s “Ciara: The Evolution,” she enlisted celebrity stylist Mariel Haenn to work with her on videos, including “Go Girl” and “Love Sex Magic,” as well as for most press and other
appearances. “I really wanted to try her,” Ciara says of Haenn (who
also counts Rihanna as a client). “She’s young and she’s new and I
felt she was on to some really cool things.”
This is a sentiment that’s also echoed in Ciara’s view of the
fashion world and, in particular, emerging designers, whose
looks she wears on these pages. “You know what?” she says, as
if making the connection anew. “It’s almost like myself — I’m
young and haven’t been doing this for a long, long time, so
I relate [to young designers]. It’s cool to see them get opportunities to share their creative visions and to actually
be successful at it.” And Ciara is certainly supporting
fashion newbies at her WWD interview, dressed in a
white tank, Current/Elliott skinny jeans and booties
by 2009 CFDA Swarovski Award nominee Alejandro
Ingelmo, all culled from her closet. “There is a lot
of new energy and a lot of new ideas that these
designers are bringing,” she says. “It’s also
cool to know what’s coming, to kind of
be on top of something in
the early stages.”
— Nick Axelrod;
styled by Mayte Allende
For related
video and
photos, see
WWD.com.
PHOTOS BY TALAYA CENTENO
Mikhael Kale’s silk
charmeuse and
satin dress with
chain-mail, dyed
python and plastic
panels. Erickson
Beamon bracelet and
earrings; Hue tights;
Christian Louboutin
shoes.
Julian Louie’s wool felt jacket
with Swarovski crystal beading;
Jillian Lewis’ cashmere, cotton
and Lycra spandex top over Le
Doux’s polyamide and elastane
bikini top; Davidelfin’s wool
and stretch tulle skirt. Bijules
ring; Barbara Bui shoes.
HAIR BY KIYAH WRIGHT FOR GOLDFINGER CREATIVE; MAKEUP BY YOLONDA FREDERICK/SHU UEMURA; FASHION ASSISTANT: JILLIAN HUGELE
POWER
WWD, WEDNESDAY, APRIL 1, 2009 7
WWD.COM
8
WWD, WEDNESDAY, APRIL 1, 2009
WWD.COM
In the Mainstream
Tommy Hilfiger Bows First Unit in East Hampton
By Whitney Beckett
TOMMY HILFIGER OPENED ITS FIRST STORE IN
East Hampton, N.Y., last week.
Located at 69 Main Street, the 1,850-square-foot store
sells women’s and men’s U.S. and European sportswear,
Sherry Cassin Launches Bridge Collection for Fall
HIGH-END FUR OUTERWEAR AND ACCESSORIES LABEL CASSIN
is launching a bridge sportswear line for fall called Sherry Cassin.
After soft launching in about a dozen doors for spring, the diffusion
collection, which wholesales for $75 to $375, is projected to sell in up
to 100 doors for fall, compared with the existing collection, which
wholesales from $80 to $4,500 and sells in 125 doors. Designer
Sherry Cassin thinks sportswear has larger long-term potential
than her current fur-based designer collection.
“Everyone who has been in the fur business ultimately needed
to go into sportswear or gowns,” said Cassin, who sold her eponymous buying office to the Doneger Group in the mid-Nineties
and served there as fashion director until 2000, when she left to
launch Cassin. “Maybe we’ll ultimately go into gowns with Cassin,
but we think there is more need for sportswear and, with sportswear, we play a more integral role in our customers’ lives.”
With fabrics rich in color and texture, the collection features
Fit-Logic technology in its pants and fake fur pieces in what
Cassin described as “feminine, classic, cool, sophisticated sportswear with a collection mentality…and sexy misses’ fit.” Cassin designed the deliveries around three fictional sisters: a wife of an executive, a gallery owner and a successful executive.
“Even with the economy, we think this is the time to be assertive
because people are always looking for new retailers,” said Cassin.
“There is opportunity in this area both because of the shift of some
upper bridge resources and because some designer customers will be
trading down looking for more value with still high quality.”
She declined to give a sales projection for the new line.
— W.B.
Fall sportswear from Sherry Cassin.
Go GaGa
TFila
T
The exterior of the 1,850-square-foot
store.
1850-square-foot store.
men’s tailored clothing, women’s runway collection,
swimwear, accessories, footwear and vintage offerings.
In addition, this summer the store will debut “Hamptons
Bohemia,” a Hamptons-inspired selection of items featuring lobster prints and cricket sweaters.
“East Hampton embodies Americana with a fun yet
sophisticated style,” said Tommy Hilfiger. “The store
continues our brand philosophy of democratic dressing,
from the inspirational runway collection to the attainable sportswear collection.”
The company said the freestanding store — the firm’s
first in the Hamptons and 10th in the U.S. — demonstrates its continued commitment to strategic retail
presence in key markets, even in the down economy.
The store’s white brick exterior and awnings pay
homage to its surroundings. Inside, walls are accented
with leather and walnut and adorned with antique brass
fixtures. The herringbone oak floors are covered with
Persian rugs, and there is aged leather and linen furniture. Much of the rest of the design accents — a vintage
Venini chandelier, a Paul McCobb midcentury étagère,
an original 23-foot walnut slab table and original posters
— are available for sale.
The store will be open year-round, though with abbreviated hours during the off-season. The company declined to project sales volume.
WWDTREND
Green
Team
Activewear
gears up for
Earth Month,
presenting
expanded
eco-conscious
offerings for fall.
Performance
garments and
accessories
feature recycled
materials,
natural-fiber
blends and
production
processes that
eliminate waste to
go a little easier on
Mother Nature.
Cooper Martin Creates Line for Those With Limited Mobility
Elisabetta
Rogiani
PHOTOS BY JOHN AQUINO
Arc’teryx
For
more,
see
WWD.com.
T
— W.B.
T
black pants and luxurious lounge pants,
each discretely modified with hidden zippers, Velcro and ergonomic construction,
which makes dressing so much easier.”
The company is marketing to hospitals and clinics, hoping they will recommend the product to patients recovering
from orthopedic surgery, an accident or
injury, or those with chronic conditions
like multiple sclerosis.
For women, the pants come in size 4 to
14, and for men’s, sizes 32
to 42 are available. The
bottom few inches of the
pant replace the zipper
with Velcro, so pants can
be altered for length.
Based in Vail, Colo.,
Cooper Martin manufactures its pants outside
Los Angeles and can
turn product in three weeks. Lindholm
has 500 pairs of pants ready for the initial launch. This summer she plans to
expand into shorts and shirts.
Lindholm declined to project volume, but noted, “The market is really
big. There are more than a million knee
and hip replacement surgeries every
year alone.”
T
Above: Cooper Martin pants are
designed for people with limited
mobility. Inset: The pants zip open
on the sides from top to bottom.
COOPER MARTIN LLC IS MARRYING
the booming health care industry with
the ailing fashion sector in a new line
of pants for women and men who have
limited mobility.
Launching in April, the pants will retail for $120, selling direct-to-consumers
through cooper-martin.com and through
its own catalogues. Made of organic cotton, the pants feature hidden zippers
from top to bottom of both the inside and
outside of each pant leg,
making getting in and
out of them easy, even
with impediments like a
knee brace.
“Those with limited
mobility, whether temporary or permanent,
have no options for easyaccess, adaptive clothing
that marry function, comfort and style,”
said Sarah Lindholm, who was inspired
to leave her career in law to found
Cooper Martin three years ago after her
boyfriend’s father had knee and hip replacement and didn’t leave his house for
nine months because all he could wear
was sweats. “We are offering a fresh,
new product line of reliable classic khakis, fashionable wide-leg floor-skimming
Nike
Horny
Toad
WWD, WEDNESDAY, APRIL 1, 2009 9
WWD.COM
USTR Says Many Trade Barriers Remain
By Liza Casabona
WASHINGTON — Despite some improvements, significant
tariff and nontariff barriers continue to hamper U.S.
trade with China and other countries, the Office of the
U.S. Trade Representative said in its annual trade barriers report to Congress.
The report was submitted Tuesday, ahead of Thursday’s
G-20 summit in London when world leaders will meet to
discuss protectionism. Key trade barriers outlined in the
report include ineffective intellectual property protections
and enforcement, discriminatory taxes on imports, trade
distorting export subsidies, new registration requirements
for a range of imports and burdensome testing and certification requirements for consumer goods.
A variety of barriers continued to hamper textile and
apparel firms in China, Argentina, Brazil, Colombia,
Ethiopia and India. Specific intellectual property concerns
for apparel and accessories were listed as impediments in
Hong Kong, Taiwan, Thailand, Turkey and Ukraine.
Agencies Forecast
Steeper Slowdown
By John Zarocostas
GENEVA — Two days ahead of
the G-20 economic crisis summit in London, the Organisation
for Economic Co-operation &
Development on Tuesday issued
a dire outlook for world output,
forecasting it will contract 2.7
percent this year and world trade
volume will decline 13.2 percent.
“The bleak scenario is driven
by the strong negative response of
private global demand to a combination of the credit squeeze,
negative wealth effects stemming
from lower house and equity
prices and a generalized loss of
confidence,” said Klaus SchmidtHebbel, OECD chief economist.
The agency forecast the U.S.
economy will decline 4 percent
this year, total domestic demand
will fall 4.1 percent and the U.S.
unemployment rate will reach
9.1 percent, up from 5.8 percent
in 2008, and edge upward to 10.3
percent in 2010. The Paris-based
organization predicted U.S. exports of goods and services to
shrink 11.3 percent in 2009 and
imports of goods and services to
contract 10.1 percent.
The OECD outlook is more
adverse for the euro area, with
economic activity decreasing 4.1
percent from last year, and a darker scenario for Japan, with an expected 6.6 percent drop.
Major emerging countries
are also expected to witness an
abrupt slowdown in growth due
to slack demand for exports.
China is expected to expand by
6.3 percent and India by 4.3 percent — both down significantly
from last year — and Brazil to
witness a decline of 0.3 percent.
Also on Tuesday, the World
Bank forecast the worldwide
economy will contract 1.7 percent
in 2009, and world trade in goods
and services will fall 6.1 percent.
World Bank economists anticipate rich economies to decline 3
percent and developing economies
to grow by only by 2.1 percent, a
marked revision from 4.4 percent
forecast in December. In regard
to the richest nations, the World
Bank expects the U.S. economy to
decline 2.4 percent, the euro area
to fall 2.7 percent and Japan to see
a 5.3 percent decrease.
Concerning the world’s biggest emerging economies, China
and India, the bank expects
growth to ease to 6.5 percent
and 4 percent, respectively.
China, a major concern for U.S. apparel and textile
companies, did take important steps to improve its trading relationship with the U.S. and to comply with World
Trade Organization requirements, the report said, but
more needs to be done. Significant trade barriers are
still in place, including increased value-added taxes on
clothing and textiles. The U.S. filed a WTO case against
China’s “Famous Brand” program in December for allegedly using export subsidies to unfairly advantage domestic producers, including textiles and apparel.
India was also cited for having lingering tariff issues.
The domestic textile industry expressed concern about
India’s lack of transparency in the application of tariffs
and taxes. Subsidies have been given to the Indian textile
sector as part of the country’s modernization efforts.
Existing free trade agreements did remove some
trade barriers abroad, most notably in the Central
American Free Trade Agreement region, the USTR report said. CAFTA created more economic opportunity
for the U.S., Costa Rica, the Dominican Republic, El
Salvador, Guatemala, Honduras and Nicaragua.
In anticipation of the report, a group of 16 House
Democrats, led by Ways & Means Committee chairman Charles Rangel (D., N.Y.) and Rep. Sander Levin
(D, Mich.), chairman of the trade subcommittee, sent a
letter to President Obama urging the administration to
“systematically improve its ability to eliminate barriers
and open foreign markets to U.S. exporters.”
The Democrats advocated for stronger enforcement
against illegal Chinese subsidy and export aid, passage
of a bill introduced by Rangel that would allow U.S.
companies to file subsidy cases against China and give
them access to remedies, and a full investigation of all
of China’s subsidies and their impact on trade.
The report set out goals that included establishing
a process to prioritize and address the most significant
global trade barriers outlined in the report and to help
identify areas where market access for U.S. goods and
services is at risk, and to prosecute those cases.
— With contributions from Kristi Ellis
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10 WWD, WEDNESDAY, APRIL 1, 2009
WWD.COM
Marketing
Affluent Signal Less Lush Life Ahead
this population, including waiting for sales of 40 percent or more.”
Another damper on high-end spending has been a
WIDE-RANGING INFLUENCES, FROM SELF-MADE
wealth and middle-class roots to shock at sudden eco- decline in the public’s optimism, despite the election
nomic strains and the rise of the simpler living and of President Obama and the fresh start he has signaled.
eco movements, could shrink luxury consumption even “Our tracking shows excitement about the new presidential administration, but only 20 to 30 percent are optiwhen spending loosens up.
These shifts to consuming less-exclusive, less-expen- mistic about a quick turnaround,” Whitfield said, citing
sive goods may occur in as many as half the households Retail Forward’s monthly surveys of U.S. households.
With unemployment at 8.1 percent and rising and no
with annual income of $100,000 to $250,000, according to
new projections by PricewaterhouseCoopers and Retail upswing in personal income in sight, the upper middle
Forward, which each month surveys people in 4,000 class’s anxiety about when the recession will end is reflected in a “much heavier
homes across the U.S.
orientation toward saving
Such spending is expected to be
The “Gossip Girl” cast sporting Ray-Bans.
and the preservation of capicurtailed partly because of greater
tal as a top investment priordifficulties securing credit, even
ity, replacing capital appreafter the recession ends.
ciation,” Kurtz noted.
“The nature of credit availabil“The bulk of the affluent
ity will be fundamentally different
are careful spenders and
when we come out of this, and there
good savers; they tend to be
could be an impact on high-end fashunfairly characterized as
ion, electronics, home remodeling,”
conspicuous spenders and
said Mary Brett Whitfield, senior
ostentatious,” he said.
vice president at Retail Forward.
Consumers are trading
“It’s an equal-opportunity problem
down in about 40 categories
— even among the affluent.”
of goods and services — twice
Just before the recession gathered
the number compared with
full force last year, private labels from
before the downturn — and
Nordstrom and Bloomingdale’s
they are trading up in fewer
were favored over designer
than 10, Silverstein said. The
names such as Prada and
relatively few things people
Vera Wang among affluent
are most willing to trade up
women who were asked
for include fashion acceswhat brand of cocktail dress
sories and food, with more
they prefer by The American
people eating more meals
Affluence Research Center
at home.
consultancy.
A savings rate now averTahari was the group’s
aging 15 percent among the
favorite label for dressy
suits, followed by Ann Taylor
Ray-Ban, Maui Jim upper middle class is “unand Jones New York. And when it came
and Oakley were favorite sustainable,” Silverstein
to luxury sunglasses, affluent women and
sunglasses of the affluent. maintained, projecting it is
men liked Ray-Ban, Maui Jim and Oakley
Gucci was fourth. likely to fall back to around
5 percent when the econothe best. Gucci registered fourth.
Many of the country’s six-figure earners are trad- my and the public’s confidence improve. The resulting
ing down from the highest-end brands in tough times propensity to spend more could play out in a renewed
— and may be newly satisfied with such merchandise desire to trade up — if in fewer categories than before
after the U.S. emerges from the recession, marketing — as marketplace competition for shoppers’ dollars
keeps intensifying.
experts predict.
Others may be less interested. More Americans are
“Most of today’s millionaires are self-made, first generation,” said Ron Kurtz, president of The American becoming “satisfied with what they have” or are “comAffluence Research Center. That’s one reason 500 peo- ing under severe economic strain,” said pollster John
ple polled by the group in September found content- Zogby, chief executive officer of Zogby International.
ment with good quality products: Many have not strayed About one in four Americans, including past and present six-figure earners, are making less than they were
too far from their roots.
There is a “psychodrama” unfolding, a sense that “I at a previous job. In the recessions of the Eighties that
am at risk,” said Michael Silverstein, a senior partner at figure ranged around 14 percent, noted Zogby, who estiThe Boston Consulting Group. He was referring to the mated 10 million affluent consumers have been cutting
low six-figure wage earners whom he said have done their outlays. “There is a permanence to this, a fundahalf the luxury spending since 2002, including smaller mental shift away from materialism,” he said.
“In the recent past, a broad market could afford luxluxuries like a $65 box of special edition Godiva chocoury, but very little of it,” said Milton Pedraza, ceo of the
lates or a daily $3 cup of coffee at Starbucks.
“These consumers are one of the most important Luxury Institute. “We won’t go back to the democratizapockets of wealth in the U.S.,” Silverstein said. “They tion of luxury.” Instead, Pedraza predicted, most consumare college educated, the core of the upper middle ers will buy luxury “sparingly” in years ahead and will be
class. There is a huge amount of [purchase] deferral in more discriminating, seeking “luxury that lasts.”
By Valerie Seckler
Ann Taylor
Jones
New
York
“GOSSIP GIRL” PHOTO BY STEVE EICHNER; TAHARI BY JOHN CALABRESE;
ANN TAYLOR BY JOHN AQUINO; JONES NEW YORK BY ROBERT MITRA
Tahari
Tahari was top choice among affluent women for “dressy suits,” followed by Ann Taylor and Jones New York.
Hispanic-Americans
Top Minority Markets
By Dick Silverman
HISPANIC-AMERICANS ARE THE FASTESTgrowing minority market in the U.S., almost doubling
their purchasing power to $951 billion last year, compared with 2000, according to a new study.
The findings of the Selig Center for Economic
Growth at the University of Georgia’s Terry College of
Business show that the nation’s 46 million Hispanics,
along with African-Americans, Asian-Americans and
Native Americans, wield “formidable economic clout”
and represent opportunities for brands and retailers that understand and can satisfy their needs, said
Jeffrey M. Humphreys, director of the center.
In addition to Hispanics, the Selig Center’s
Multicultural Economy 2008 report said: 39 million
African-Americans had purchasing power of $913 billion; 14 million Asian-Americans, $509 billion, and
3 million Native Americans, $61.8 billion. In 2000,
Hispanic-Americans were at $490 billion; AfricanAmericans, $590 billion; Asian-Americans, $269 billion, and Native Americans, $39.1 billion.
The center estimated the nation had $10.7 trillion in
total buying power last year, versus $7.2 trillion in 2000.
Forecasts suggest that the importance of the growing minority population will increase. The Selig
Center estimated that by 2013 Hispanic-Americans
will have purchasing power of $1.4 trillion; AfricanAmericans, $1.2 trillion; Asian-Americans, $752 billion, and Native Americans, $84.6 billion.
“The numbers are impressive,” Humphreys said, noting the Hispanic- and African-American markets alone
are larger than the economies of all but 13 countries.
“The numbers are impressive.”
— Jeffrey M. Humphreys,
Selig Center for Economic Growth
The Selig Center defines purchasing power as
the total personal income of residents available for
spending, after taxes. It does not include money that
is borrowed or has been saved in previous years.
The projections were formulated based on census
data and consumer buying estimates.
Although Hispanics may have lower average incomes, they spend significantly on clothing and footwear, the study concluded.
Often ignored by many national retailers and
brands, Humphreys said minority consumers could
deliver revenue at a time when retailers and brands
desperately need it, and marketers would be wise to
extend their reach to minority shoppers and tailor
campaigns to their specific needs and tastes.
That view was echoed by Michael Solomon, professor of marketing and director of the Center for
Consumer Research in the Haub School of Business
at St. Joseph’s University in Philadelphia.
Hispanics, who by 2013 will represent one in
every six Americans, are “the new sleeping giant”
for retailers, Solomon said. “Brands today are waking up to the new demographic majority and realize
they offer tremendous purchasing power.”
While the food industry has long succeeded with
Hispanic customers, the apparel and retail industry,
with the possible exception of Wal-Mart Stores Inc.,
has missed opportunities, he said.
“Multicultural marketing may be a buzzword today,
but there are a lot of pitfalls if you don’t fully know and
understand the different markets, their value systems
and needs of their individual cultures,” Solomon said.
Marketers are discovering the diversity of minority shoppers — for example, how Latinos on the
West Coast differ from their counterparts on the East
Coast, said Natalie Weathers Nixon, associate professor in the fashion industry management department
of Philadelphia University.
“The misperception that all minorities in America
live in the same place and do the same types of things
is slowly but surely starting to break down,” she said.
Some brands have succeeded with specialty product, including Miami-based Orange Clothing Co., which
introduced a men’s apparel line with hangtags proclaiming it was “Designed by Latinos for Latinos.”
“We now have minority icons like Michelle Obama who
are role models,” said Cynthia Cohen, founder and president of Strategic Mindshare, which specializes in retail
concepts to Hispanic and African-American consumers.
“In recessionary times like these, you have to look
for every advantage you may have, and there definitely is a plus in trying to boost your market share
with consumers in minority-dominated neighborhoods,” Cohen said.
WWD, WEDNESDAY, APRIL 1, 2009 11
WWD.COM
Charges Send G-III Apparel to Loss
Costa Talks Fashion and Mentors at FIT
By Brenner Thomas
By Marc Karimzadeh
—With contributions from Arnold J. Karr
MEMO PAD
MARTHA’S MILLIONS: With a stock price hovering around $2.50 a share
— a 67 percent decline from a year ago — shareholders of Martha
Stewart Living Omnimedia Inc. may be more interested than usual in
the company’s upcoming annual meeting on May 13. In a filing with
the Securities and Exchange Commission that outlines what will be
discussed, the media company revealed founder Martha Stewart received
overall compensation in 2008 that by far surpassed what she earned the
previous year: $5.4 million, compared with $2.06 million in 2007. The
amount included $3.6 million in “other” compensation, made up mainly
of payments in connection with the firm’s license rental agreement with
her, plus $193,066 paid to her as “talent” on the company’s TV show
and $100,000 in a nonaccountable expense account.
Separately, the report said the company requires Stewart to have
a home security system and backup power system, which it deems as
legitimate business expenses but “we also recognize that these costs
can be viewed as personal benefits.” Wenda Harris Millard, president of
media and co-chief executive officer, earned $1.46 million in 2008,
slightly down from the $1.49 million a year earlier, while Robin Marino,
president of merchandising and co-chief executive officer, earned $1.63
million, which included $42,200 for an apartment in New York. But this
was down from $1.66 million in 2007.
Meanwhile, daughter Alexis Stewart, co-host of “Whatever, Martha!” on
the Fine Living Network — which was just picked up for a second season —
was paid $209,000 for her work as a radio host and a merchandising and
publishing advisor, and co-host Jennifer Koppelman Hutt, daughter of Charles
Koppelman, executive chairman, received $130,000. — Amy Wicks
MEN LOOKING GOOD: Esquire has been in an entrepreneurial mood
lately, given its experimentation with covers for several issues that
included electronic ink, pop-up windows and pull tabs. That spirit is
translating to content, as the Hearst men’s title invests more in its
fashion coverage. The magazine will roll out the first spring edition of
the Big Black Book, a style manual for men that provides a seasonal
guide to fashion, accessories and expensive toys. The book launched in
fall 2006 and was brought back in both fall 2007 and fall 2008. The
book is sold at bookstores for $9.95, with a distribution of between
100,000 and 150,000. Though it’s not the ideal time to launch print
spin-offs, Kevin O’Malley, Esquire vice president-publisher argues Black
Book is a less expensive complement to the flagship; an advertisement
in Big Black Book costs roughly a third of what a page in the magazine
would cost (according to Esquire’s rate card, a four-color, full-page ad
in Esquire runs $103,960). Some of the smaller Italian brands “would
love to be advertising in Esquire, but they can’t afford the trade papers,
much less a national book.” New advertisers to Big Black Book include
Aquascutum, Brioni, CitationShares and Ralph Lauren Polo Black
Fragrance. Belvest, Canali, Cartier, IWC, Ermenegildo Zegna and Jacob
& Co. are a handful of the 26 returning advertisers. Any additional outlet
for business helps in this economy: Through April, Esquire’s ad pages
are off 27 percent, to 206 pages.
This year, Esquire has included a wider range of photographers to
shoot fashion portfolios, including Lorenzo Bringheli, Barnaby Roper,
Carlos Serrao and Max Vadukul. To help draw more attention to their
work, esquire.com will host short films inspired by its fashion shoots,
designed as promotional trailers for the stories in the magazine.
Meanwhile, Esquire has raised the profile of fashion director Nick
Sullivan, giving him more real estate in the magazine with a Q&A
column, “Ask Nick Sullivan.” — Stephanie D. Smith
his mother, who had an interest in charity that
prompted a teenage Costa to create clothes and
plan charitable fashion shows.
After his mother’s death in 1981, Costa moved
a fashion giant?
“You listen, listen, listen and then you execute, to New York, taking English classes at Hunter
execute, execute,” said Francisco Costa, who College and enrolling at FIT in the evening.
worked for Oscar de la Renta, Tom Ford and Calvin He landed his first job at Susan Bennett Studio
Klein before becoming women’s creative director of before joining the He-Ro Group to work on Bill
Calvin Klein Collection. “You work very hard. It’s a Blass dresses and knits. He then began working
with de la Renta, followed by a stint with Ford at
learning experience.”
Costa took to the stage at the Fashion Institute Gucci. In 2002, he was looking to return to New
of Technology on Monday for a conversation with York to be with his partner, John DeStefano.
“Oscar called me and said, ‘I’d love for you to
Valerie Steele, director and chief curator of the
Museum at FIT, the designer’s alma mater. During come back and do Balmain,’” he recalled, adding
the 90-minute talk, Costa offered insight into his that he eventually turned down the offer and inupbringing, his path to the top of one of fashion’s stead decided to join Calvin Klein in New York.
biggest brands and the mentors along the way, his “There was always an excitement and genuine
interest,” he said of Klein. “He is so curious, dirole at Calvin Klein and the design process.
The designer, who grew up in Guarani, Brazil, rect, sharp and very funny.”
Asked if he would ever consider takcredited his late mother, Maria-Francisca, for
ing on more creative control at Calvin Klein
much of his early fascination with fashion.
“I don’t know where she’d find internation- International, Costa pointed to the company’s
al magazines like Vogue and Harper’s Bazaar, successful structure, which has separate crebut she’d have them around,” Costa recalled of ative directors for men’s wear, accessories and
other divisions. For instance, he
meets with Italo Zucchelli, his men’s
Francisco Costa,
wear counterpart, to discuss matters
in conversation
such as upcoming campaigns. Costa
with Valerie
also said that when he sometimes
Steele.
reflects on why he never started his
own line, his mind wanders to Karl
Lagerfeld, whose biggest success was
at Chanel.
As for the recession, great design
should never be compromised, said
Costa, who hopes to continue doing
what he does now. “I just love what I
do,” he said. And while scores of celebrities have selected Costa’s designs
for the red carpet, he admitted there
is one woman he would like to see in
his designs. “It would be fun to dress
Michelle Obama, actually,” he said.
NEW YORK — What is it like to cut your teeth with
PHOTO BY GREG KESSLER
WWD
Men’s
PRETAX IMPAIRMENT CHARGES OF $33.5
million threw G-III Apparel Group Ltd. to a
large fourth-quarter loss.
During the three months ended Jan. 31, G-III
registered a net loss of $32.1 million, or $1.93
a diluted share, versus net income of $1.1 million, or 6 cents a share, in the year-ago quarter.
Excluding impairment, the loss came to 23 cents a
share, nearly four times the 6-cent-a-share loss forecast
by analysts, according to Yahoo Finance.
Boosted by acquisitions, the source of the goodwill and trademark impairment, sales rose 32.6 percent to $170.7 million from
$128.7 million.
Failure to meet last year’s plan prompted management to outline a new
strategy for the 120-unit Wilsons outlet business acquired by the company
last July. Detailed by management during the earnings conference call
late Tuesday, G-III will close some doors, emphasize current as opposed to
year-end merchandise and spruce up the look and feel of the stores.
Management also unveiled plans to ramp up its offerings under
Andrew Marc, the leather outerwear brand also acquired last year.
Morris Goldfarb, chairman and chief executive officer, said the company is likely to unveil plans for men’s accessories and small leather
goods as well as a women’s dress line by yearend. The company currently markets men’s and women’s outerwear and women’s handbags
under the Andrew Marc label.
Both acquisitions will continue to weigh on profitability, however.
Goldfarb forecast an $8 million loss for the first quarter, compared with a
$6.9 million loss in last year’s quarter, a difference, he said, attributable
to the acquired businesses. Sales for the quarter are projected to jump
39 percent to $150 million, thanks to growth in the company’s dress business and the launch of its women’s Calvin Klein sportswear program.
For the full year, the company logged a net loss of $14 million, or 85
cents a diluted share, versus net income of $17.5 million, or $1.05, in
2007. Sales rose 37.1 percent to $711.1 million from $518.9 million.
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12 WWD, WEDNESDAY, APRIL 1, 2009
WWD West
Retail Fear and Closings in Las Vegas
Continued from page one
10%
The Forum Shops at Caesars
CityCenter
For more
images, see
WWD.com.
ALL PHOTOS EXCEPT MIRACLE MILE SHOPS BY ISAAC BREKKEN
gaming revenue, tourism and convention
business are spiraling downward. In addition, Las Vegas has the nation’s highest foreclosure rate for metro areas with a
population of at least 200,000, according to
RealtyTrac, which compiles the listings.
Unemployment rose to 10.1 percent in
February, compared with 5.5 percent in the
same year-ago period, and casino magnate
Steve Wynn slashed employee salaries 10
percent to 15 percent.
Major projects such as CityCenter, a joint
venture of MGM Mirage and Dubai World
that includes hotels, gaming and condominiums, as well as retail, are being cut back
or delayed.
MGM Mirage, the largest casino owner
on the famed Strip, is trying to avoid default and other casino operators, including Harrah’s Entertainment and Las Vegas
Sands, are struggling to meet debt obligations. General Growth Properties Inc.,
which owns and manages more than 200
U.S. malls, including Las Vegas’ Fashion
Show, Grand Canal Shoppes at The Venetian
and The Shoppes at The Palazzo, said
Monday it is continuing talks with lenders
to restructure billions of dollars in debt.
General Growth is seeking to sell the Las
Vegas properties, but with real estate credit
tight and spending weak unloading them
may be a longshot.
Mall landlords are reexamining their
tenant rosters to be recession-appropriate. The Forum Shops at Caesars, which
has set the standard for high-end retailing
in Las Vegas, is now more interested in
signing a casual eatery than a fine-dining
restaurant because of the strained economic climate, said Maureen Crampton,
director of marketing.
“The shopper is more conservative today,
definitely, and they have been for quite some
time,” she said. “We have to be realistic. We
can’t set our expectations so high. This is not
9/11. People after 9/11 came to get away. It
didn’t hit their pocketbook.”
Welcome to the Las Vegas where cheap
buffets, half-price hotel rooms, steep store
discounts, budget-friendly shows and slots
are among the main attractions, while luxury
brands that have catered to high rollers play
second banana.
In the last 15 years, Las Vegas morphed
from its roots as a gambling oasis into a luxury destination with world-class shopping,
spas, restaurants and other attractions. After
more than a decade of riding high, the economic turmoil has stripped away some of the
city’s extravagant allure.
Luxury brands such as Bally, Chanel,
Hermès, Louis Vuitton and Tiffany & Co.
that have opened multiple locations along
the Strip are taking the long-term view.
“It’s a little too early to tell what’s in store
for Vegas,” said Barbara Cirkva, Chanel’s division president of fashion, watches and fine
jewelry, who added that the brand has “started to take a very conservative approach” to
Vegas and most other retail markets. Chanel
opened its third Las Vegas boutique in
Wynn’s Encore in December.
Projected decline in
Las Vegas tourism in 2009.
SOURCE: LAS VEGAS CONVENTION AND VISITORS AUTHORITY
“We think it still has a lot of appeal for U.S. clients and international customers,
largely international traffic,” she said.
The 1.7-million-square-foot, 70-acre CityCenter development — which will cost
MGM Mirage, controlled by investor Kirk Kerkorian and Dubai World an estimated
$9.6 billion to $11.3 billion — is seen by many as a harbinger. Since it broke ground
in 2006, the project has been delayed and scaled back, as with the cancellation of the
condominium portion of the Harmon hotel.
MGM Mirage last week staved off bankruptcy of CityCenter, putting up $200 million
to continue construction. CityCenter isn’t out of the financial woods, however. MGM
Mirage and Dubai World still must come up with $800 million to access some $1.8 billion in credit needed for completion.
“Of course we’re worried about the economy, and the [CityCenter] delays have
been troubling, but Las Vegas has been one of the top markets for us over the past
year,” Bally ceo Marco Franchini said of his plans to open a third Las Vegas boutique
at CityCenter. “We’re not going to be sidetracked. Of course, we’re going to be careful
and have to allow the market more time.”
Italian fashion label Missoni was in negotiations to open its first Las Vegas door
in CityCenter’s luxury retail complex but pulled out when the economy skidded last
year, a company spokeswoman said.
Bally and Tiffany & Co. will still roll out stores in CityCenter’s 500,000-square-foot
retail space, called the Crystals, and tenants slated for the late 2009 debut include
Rolex, Roberto Coin, Tourbillon, Marni, Ermenegildo Zegna, de Grisogono, Mikimoto,
H.Stern and Louis Vuitton.
“Las Vegas is having trouble but so is the rest of the retail world,” Franchini said.
“Our intent is to be cautious but still to pursue our long-term retail strategy of expansion. There are some opportunities in this down market.”
WWD, WEDNESDAY, APRIL 1, 2009 13
WWD.COM
Although Federal Reserve chairman Ben
Bernanke said in March that the recession
will end “probably this year” and the economy
will begin to recover in 2010, Las Vegas faces
lengthening odds as luxury spending, tourism
and gambling prove difficult sells.
“As recently as a year and a half ago, the
conventional wisdom was that the gaming industry, and the Strip in particular, would be
pretty immune to a slowdown in the economy,” said Matthew Jacob, a director at New
York-based Majestic Research. “The nature
of Las Vegas has changed.…If you look at all
the hotels that have been built since the early
Nineties, they are each more upscale than the
last and are attracting people that are upscale
or aspire to be upscale. There are fewer people that fit that category now than a year ago.”
Total visitor volume was down 4.4 percent
last year to 37.5 million and is forecast to decline 10 percent this year, according to the Las
Vegas Convention and Visitors Authority. In
January, tourism fell 11.9 percent year-overyear to almost 2.8 million.
Gaming revenue for the Strip decreased
10.6 percent to $6.12 billion in 2008, and convention attendance was down 5 percent to almost 5.9 million. The number of conventions
and meetings fell 5.8 percent to 22,454.
The retail vacancy rate hit 7.4 percent in
the fourth quarter of last year, compared with 4
percent in the same period the previous year.
To be sure, Las Vegas remains a potent engine for revenue. Las Vegas Boulevard is filled
with foreign tourists snapping photos and
T-shirt-wearing Americans carrying alcoholic
concoctions in yard-long glasses.
With the nadir of the recession undetermined, deep discounting could damage the city’s
reputation as a high-end retail destination.
“It took quite a while for Vegas to shed its
negative reputation, and it has taken great
strides to position itself as a really reputable
place to do business,” Jacob said. “Anything
that reverses that may be difficult to quickly
rebound from.”
Las Vegas’ leap toward luxury retail took
root in the Nineties, most notably with the
opening of the Forum Shops at Caesars Palace,
a record-setting, high-end retail development
of 160-plus stores. The Forum Shops expanded three times during its first 12 years and recorded average sales of almost $1,400 a square
foot in 2006. By 2008, the number had dropped
to around $1,200 — still far greater than the
national average of about $400 a square foot.
Some brands operating in the Wynn’s shops,
Miracle Mile Shops at
Planet Hollywood.
Versace at The Forum Shops.
Tivoli Village
which analysts estimated saw almost $300
million in retail sales in 2007, said they don’t
expect stores to match those numbers in 2008
and possibly beyond.
Last year, the visitors authority reported
the average room rate fell almost 10 percent
to $119.19. Travel Web site Orbitz.com recently
advertised rates at the three-star, 2,577-room
Stratosphere Hotel on the Strip as low as $25
a night.
Las Vegas casino-hotels and retailers have
the added challenge of competing in a crowded market. Projects already under way will
add an estimated 10 percent to the current
hotel room inventory of 140,529.
“It seems to be the worst possible time to
be opening up a new casino,” said Jacob of
Majestic Research. “We are seeing more supply being added, and demand is not going up,
demand is going down. The brand-new properties have to discount off the bat.”
The Octavius Tower, part of Harrah’s $1
billion expansion for Caesars Palace, stalled
in January; Boyd Gaming’s planned $5 billion
Echelon resort, a 23-story tower that had a
300,000-square-foot shopping venue, has been
delayed at least a year.
Los Angeles nightlife impresario Sam
Nazarian’s plans to overhaul the former
Sahara hotel and casino are also on hold. He
bought the site in 2007 and has already poured
millions into remodeling the property.
To cope with the weakened tourism market,
Strip retailers are trying to compensate by attracting locals and midrange shoppers.
The 700,000-square-foot Tivoli Village, a
mixed-use project under construction on Las
Vegas’ west side, plans to draw heavily for
customers from the nearby upper-middleclass suburb of Summerlin. The project was
slated for fall 2009 but has been pushed back
to 2010.
But Las Vegas-area “residents are not able
to support local retail in the manner they were
six to 18 months ago,” said Russ Joyner, general manager of Miracle Mile Shops at Planet
Hollywood, which houses 170 stores, including
Sephora, H&M, Chico’s, Metropark and Ann
Taylor Loft.
“It’s a matter of discretionary income —
luxury items are increasingly out of reach,”
Joyner said. “We’re not trying to go too highend or luxury, so we have what most of the
mass market is looking for. We started out
2008 like gangbusters, and in the fourth
quarter came to a screeching halt like everyone else.”
FASHION SCOOPS
ROADBLOCK: As tensions mount among
disgruntled workers in France, François-Henri
Pinault, chairman and chief executive officer of
PPR, was blocked in his taxi in western Paris for
a bit less than an hour on Tuesday evening by
around 50 employees from the group’s Fnac and
Conforama units. He was then freed by police,
a PPR spokeswoman confirmed. The event
occurred following a meeting between Pinault
and PPR’s European worker’s council. “These
were representatives who had attended and
been listened to during the meeting,” said the
spokeswoman. In late February, PPR revealed
plans to trim the workforce at its Conforama and
Fnac chains — by around 800 and 400 jobs,
respectively — amid a deteriorating consumer
environment. There have been a spate of similar
incidents across France in the recent past.
Also on Tuesday, for instance, four directors
of Caterpillar’s French arm were reported to
have been blocked by employees demanding
improved layoff conditions. Meanwhile, in midMarch, the director of Sony France and three
Japanese executives were reported to have been
held hostage for 24 hours by workers from a
factory due to be closed in southwestern France.
the mother-and-daughter team that never met
a plastic surgeon they didn’t like. Rumor has it
they stopped by the SoHo boutique recently and
picked up pieces for upcoming episodes of “The
Celebrity Apprentice.”
TAHARI’S TV BLITZ: Elie Tahari must be having
some particularly good television karma. The
label has been making quite the network
rounds this season: Calista Flockhart wore
Tahari’s bright yellow “Aimee” sleeve blouse
with bows on a recent episode of “Brother &
Sisters,” and Blake Lively wore the same top
on “Gossip Girl” Monday night. The piece
is said to have subsequently sold out of the
designer’s SoHo boutique.
Earlier in the season, Vanessa Williams
sported at least three Tahari outfits on “Ugly
Betty;” Marcia Cross wore a green top on an
episode of “Desperate Housewives,” and Kim
Raver of “Lipstick Jungle” wore the designer’s
“Jordana” sheath dress on a recent episode. But
the ultimate client endorsement could soon be
on its way courtesy of Joan and Melissa Rivers,
SPEED DAMON: Tiret, the over-the-top luxury
diamond watch firm cofounded by Damon
Dash and Daniel Lazar hasn’t compromised
on its aesthetic due to the rough economy.
So much so that the firm continues to
push the limits on just how far it can
go. At Baselworld, the watch trade
fair that’s taking place this week
in Switzerland, the brand debuted
its first car. Marek Djordjevic,
the designer of Rolls-Royce’s
Phantom and Drophead models,
has created a Range Rover
coupe under LSE Design in
the U.K. The modification
of the five-door sport
utility vehicle starts at
approximately $279,000 and
Tiret’s customized
Range Rover dubbed
“The Coupe.”
climbs to $716,000, depending on different
options such as a diamond-encrusted dial set
on the dashboard and a panoramic roof, and
armoring. “Tiret is all about customization,
uniqueness, luxury and exclusivity,” said
Lazar, who mentioned he received two
requests already. “This car is limited for very
limited clientele, and we don’t expect to sell
more than a handful a year.” As for the target
demographic: “Someone with a unique and
luxurious lifestyle,” added Lazar.
QUE LINDA: Linda Fargo has unexpectedly become
a muse. When Fargo, Bergdorf Goodman’s
senior vice president, fashion office and store
presentation, debuted her new double pocket
matte black crocodile tote by Nancy Gonzalez
at the fall collections throughout New York,
Milan and Paris she caused a stir. “Everyone
started calling me from Europe asking for the
‘Linda’ bag,” said Gonzalez president Santiago
Gonzalez, who does not name bags, but decided
to go along with it as well as make the bag
exclusive to Bergdorf Goodman. On Saturday
from 2 to 4 p.m., designer Nancy Gonzalez
will be at the store to help customers order
Linda bags in myriad skins and colors.
Prices range from $2,950 to $5,000.
Fargo is more than flattered by the
attention. “Getting asked to have a
bag like this keeper named after
you in perpetuity is like getting
asked for your hand in marriage,”
Fargo said. “It’s flattering and it’s
hopefully, forever.”
Gonzalez’s Linda bag,
named for Linda Fargo.
T
OSCAR THE JUDGE: Mango, the Spanish specialty
chain, has tapped Oscar de La Renta to head a
jury of retail and design-school heavyweights
to pick the winner of El Botón (The Button) —
Mango Fashion Awards. The second international
newcomer competition, established in 2007, is
open to designers age 35 and under who have
produced a minimum of two collections. Prize
winnings will total 300,000 euros, or $399,239
at current exchange. The winner will be revealed
April 29 during a runway presentation in Madrid.
FEDERAL EXCESS: Karl Lagerfeld is getting in
touch with his rural side. The designer just
returned to Paris from Vermont, where he shot
Chanel’s fall-winter campaign with models
Heidi Mount and Freja Beha Erichsen. “It was
very cold, the sky was blue and the light
was stunning. And the people are so nice,”
Lagerfeld said Monday night at the opening
of the “Court Pomp & Royal Ceremony”
exhibition at Versailles. The backdrops for
the shoot included a big wooden barn. “I’ve
never seen such a beautiful barn in my life,”
he enthused. Meanwhile, Lagerfeld marveled
at the magnificent embroideries on display at
Versailles from royal wardrobes from Germany,
Austria, Russia, Sweden and Denmark. He
noted they were all realized in France. “And
it was not like shipping today. There was no
DHL,” he said.
14 WWD, WEDNESDAY, APRIL 1, 2009
WWD.COM
For full daily stock changes, see WWD.com.
Financial
Retail Stocks Rise, Confidence Steadies
By Arnold J. Karr and Vicki M. Young
RETAIL STOCKS BOUNCED BACK ON
Tuesday as word of stabilizing consumer confidence helped the S&P Retail
Index end the month and quarter with
beefy increases.
On the final day of March and the
first quarter of the calendar year,
the index rose 2.54, or 0.9 percent, to
293.66, below its 301.52 closing from last
Thursday but up a robust 16.6 percent
for the month and 5.2 percent for the
quarter. It began the year at 279.26, but
closed out February at 251.79.
The S&P Retail Index hasn’t generated such a strong result since before
the recession officially began in late
2007. Prior to March’s lionlike exit, the
index’s strongest performance since late
2007 had been the 12.7 percent advance
last August, followed by the 6.3 percent
rise last December. The largest monthly
decline of the recession was the 17 percent contraction of last October, followed
by a 12.6 percent fall in November and a
12.2 percent swoon in June.
Rebounding from Monday’s sell-off,
the Dow Jones Industrial Average finished the day at 7,608.92, up 86.90 or
1.2 percent, and up 7.7 percent for the
month, its largest monthly advance in
more than six years, but still off 13.3
percent for the year.
The S&P 500 was up 10.33, or 1.3 percent, for the day and ahead 8.5 percent
for the month, but is still down 11.7 percent since 2008 trading ended on Dec.
31. The Nasdaq Composite was up 26.79,
or 1.8 percent, to 1,528.59, 10.9 percent
ahead of its Feb. 27 close and 3.1 percent behind its 2008 finale.
The positive results on Wall Street
were seen as much as a reaction to the
absence of bad news, such as Monday’s
sense of the growing likelihood of a bankruptcy by General Motors, as to the presence of anything indisputably positive.
For instance, the Conference
Board said Tuesday that its Consumer
Confidence Index remained essentially
flat in March, as consumers seem to be
taking time to digest what’s next for the
economy despite persistent concerns
over the job market.
With mixed results for the two components of the index, it finished March at 26,
inching up slightly from a revised reading
of 25.3 in February. The Present Situation
Index, a gauge of current conditions,
dipped to 21.5 from 22.3 in February. The
Expectations Index, the more forward-
looking gauge as it measures the outlook
going out six months, showed a slight gain
to 28.9 from 27.3 last month.
“Consumer confidence was relatively
unchanged in March, after reaching an
all-time low in February,” said Lynn
Franco, director of The Conference
Board Consumer Research Center, who
went on to say, “Apprehension about
the outlook for the economy, the labor
market and earnings continues to weigh
heavily on consumers’ attitudes.”
Doug Himmel, managing director at
Melville Capital, said, “People are digesting and figuring out what is next.
The market rallied 800 to 1,000 points
in the last couple of weeks, and whether
we’ve seen a bottom in consumer confidence remains to be seen.”
Himmel said the key will be when
companies start to hire again, but so
far he’s hearing more about companies
proactively laying off workers to stay
solvent because lenders are constraining credit lines.
Maury Harris, economist at UBS,
said the “Conference Board measure
remains exceptionally weak,” but that
is probably because it reflects the labor
market conditions to a greater degree
than other indexes.
Consumers in March who said overall present-day conditions are “bad”
rose to 51.1 percent from 50.5 percent.
Their appraisal of the labor market remained pessimistic, with those saying
jobs are “hard to get” rising to 48.7 percent from 46.9 percent last month.
However, looking ahead, there were
a few signs of mild optimism. Consumers
expecting business conditions will worsen
over the next six months fell to 39.1 percent from 40.7 percent, while those expecting fewer jobs in the months ahead
declined to 42.6 percent from 47 percent.
While several real estate investment
trusts (REITs) registered strong gains, led
by General Growth Properties Inc.’s 29.1
percent advance as it continued to hammer out a path around bankruptcy, retailers
posted mixed results in Tuesday trading.
G-III Apparel Group Ltd. shares fell 5.3
percent, to $5.52, in advance of disclosure
of a bigger-than-expected fourth-quarter
loss after the close of the markets.
Macy’s Inc. shares fell 1 cent, to $8.90,
during the trading day. After the close
of the market, the company reported it
would record a $5.4 bill ion pretax goodwill impairment charge for 2008, within
but at the high end of its earlier projection
of a charge of $4.5 billion to $5.5 billion.
Penney’s Ullman Pay Tops $10M
J.C. PENNEY CO. INC. CHIEF EXECUTIVE MYRON E. “MIKE” ULLMAN 3RD
rejoined the eight-figure compensation club in 2008.
According to the company’s definitive proxy, filed with the Securities and Exchange
Commission on Tuesday, Ullman earned just over $10 million in total compensation
during the last fiscal year, 25.5 percent above the $8 million he earned in 2007.
While Ullman, who has no employment contract and also serves as Penney’s chairman, continued to collect a salary of $1.5 million, his option awards expanded to $3.5
million from $2.2 million and incentive plan compensation landed at $1.4 million
versus none in the prior year. These two areas more than offset a decline in his stock
awards, to $2.7 million from $3.1 million, and smaller reductions in other compensation and the change in pension value and nonqualified deferred compensation.
Ullman earned slightly more in 2006 — $10.4 million — than he did last year.
The Penney’s ceo also stands to earn $25 million in company stock grants over
the next three years if shares generate a return of 29.1 percent or more.
— A.J.K.
Gunn Named to Americas Post at Esprit
ESPRIT HOLDINGS LTD. SAID TUESDAY IT APPOINTED JOHN GUNN AS PRESident of Esprit North and South America, effective May 4.
Gunn previously served as executive vice president of retail at Tommy Hilfiger in
North America. Before that, he was general manager of IC Companies in Canada.
Gunn succeeds Jerome Griffith, who was appointed chief executive officer and
president of Tumi in February.
“Gunn has a successful track record in the industry and we believe he will build
on this success while at Esprit,” said chairman and group ceo Heinz Krogner.
— Alexandra Steigrad
10 BEST PERFORMERS
DAILY
COMPANIES
P/E
VOLUME
AMT
HIGH
LOW
0.71
0.58
General Growth (GGP)
5.5
5720753
0.71
29.09
0.74
0.60
LJ Intl (JADE)
7.2
171679
0.72
24.14
3.01
2.54
Cache (CACH)
13.2
108256
2.88
15.20
2.98
2.55
Stein Mart (SMRT)
-
121315
2.89
15.14
2.375
2.07
CBL (CBL)
13.7
2699188
2.36
14.56
0.16
0.15
Phoenix Footwear (PXG)
-
19600
0.16
14.29
35.12
31.26
Simon Properties (SPG)
16.5
15039899
34.64
12.25
31.04
28.18
Tanger Factory Outlet (SKT)
38.8
1653023
30.86
12.10
297.5
283.2
Marks & Spencer * (MKS:L)
7.4
37186488
296
11.91
2.18
2.00
Developers Diversified (DDR)
-
7654433
2.13
11.52
P/E
VOLUME
LAST %CHANGE
10 WORST PERFORMERS
DAILY
COMPANIES
AMT
HIGH
LOW
1.84
1.60
Tandy Brands (TBAC)
-
1386
1.6 -12.57
0.12
0.09
NexCen (NEXC)
-
446987
0.105 -12.50
1.74
1.52
Retail Ventures (RVI)
1.2
106320
1.52 -10.06
1.64
1.40
Charming Shoppes (CHRS)
-
751500
1.4
-5.41
6.00
5.43
G-III Apparel (GIII)
5.3
164654
5.52
-5.32
0.47
0.42
Eddie Bauer (EBHI)
-
159336
0.42
-4.52
6.61
5.53
Oxford (OXM)
6.5
438219
6.17
-4.49
4.59
4.14
Jones Apparel (JNY)
-
1575533
4.22
-4.09
5.55
5.20
Hampshire (HAMP)
-
50500
5.25
-3.67
58.34
56.05
16.9
532927
56.05
-3.28
LAST %CHANGE
Chattem (CHTT)
* Editor’s note: European stocks are quoted in the currency of their principal exchanges. Shares on
the London Stock Exchange are quoted in pence, Richemont and The Swatch Group are quoted in Swiss
francs and Hennes & Mauritz is quoted in Swedish kronor. All other European stocks are in euros.
Physicians Formula Posts $24.5M Loss
PHYSICIANS FORMULA HOLDINGS
Inc. reported a fourth-quarter loss of
$24.5 million, or $1.80 a diluted share,
compared with profits of $4.9 million, or
33 cents a share, in the year-ago period,
citing retailers’ ongoing grip on inventory control — and shoppers’ grip on
their wallets.
During the quarter, the company recorded noncash goodwill and intangible
asset impairment charges of $32.7 million
as of Dec. 31, or $1.93 per diluted share,
net of tax, which dragged down earnings
somewhat. Excluding these charges, adjusted net income per diluted common
share was 13 cents for the fourth quarter.
The mass-market cosmetics firm, a
leader in mineral makeup, reported sales
slid 16.8 percent to $28.2 million during
the quarter ended Dec. 31, from $33.9
million in the year-earlier period.
For the full year, Physicians Formula
reported a loss of $19.8 million, or $1.41 a
diluted share, compared with income of
$8.7 million, or 60 cents a share, in 2007.
Annual sales increased 2.2 percent to
$114 million from $111.5 million.
Citing ACNielsen retail sales data,
Physicians Formula said it held an 8
percent market share of the masstige
market for the year ended Feb. 21, a
category the firm defines as premiumpriced products sold in the mass market.
For the same period ended a year ago,
the firm noted, its share of masstige was
7.9 percent.
“During the first quarter of the year,
retailers continue to operate under
unprecedented tight inventory control programs and, in addition, we are
experiencing smaller pipeline orders
compared to last year’s larger pipelines
from space gains,” noted Ingrid Jackel,
the firm’s chairman and chief executive
officer. “We expect 2009 will continue to
be a very challenging retail environment
for our industry. To weather the current
economic turmoil, our low-cost business
model, coupled with prudent cash management, has provided the financial ability to sustain some of our core 2009 initiatives while developing, presenting and
executing on our 2010 plans.”
— Molly Prior
WWD, WEDNESDAY, APRIL 1, 2009 15
WWD.COM
P&G Sells Ethnic Brands to New Firm RCJP Esxence Fragrance Fair Set for Milan
PROCTER & GAMBLE CO. HAS SOLD OFF ITS
ethnic brands to a husband-and-wife team who
plan to return them to their former glory.
Johnson Products Company, the maker of
African-American hair care products, which
P&G acquired five years ago with its purchase of
Wella, has been purchased by RCJP Acquisition
Inc., a newly formed company based in Los
Angeles funded by private equity firms Rustic
Canyon/Fontis Partners LP and St. Cloud
Capital LLC.
Johnson’s brands, consisting of Ultra Sheen
and Gentle Treatment, will be overseen by Eric
Brown and Renee Cottrell-Brown, ethnic beauty
industry veterans. Brown will serve as RCJP’s
chief executive officer and Cottrell-Brown as executive vice president.
Most recently, Brown served as president
of Pro-Line International, which is owned by
Alberto-Culver Co. Cottrell-Brown, whose father founded Pro-Line and subsequently sold
it to Alberto-Culver in 2000, has for the past
three years operated a marketing consulting
firm, Streetwise Marketing Solutions, based in
Arlington, Tex.
She previously had a 25-year career with Pro-Line
Corp. and Pro-Line International, most recently as
global vice president of retail marketing.
Terms of the transaction were not disclosed.
Johnson Products has annual sales exceeding $23 million in the U.S. and makes about 30
BEAUTY BEAT
hair care products. Under ownership of P&G,
Johnson went from making more than 100 products down to 30, said Cottrell-Brown.
“[Growth] wasn’t their focus,” CottrellBrown said of P&G’s ownership of Johnson.
Her next order of business is to assess the
brand and expand it in 2010. “We want to bring
about new products and innovation. We will
probably just get acclimated and make sure
we’re meeting our customers’ needs for now.
Then we’ll get consumer research on what
they want and then we’ll launch new products
next year, go out and meet retailers. Get back
on board with everyone.”
— Andrea Nagel
MILAN — A new niche fragrance fair called Esxence — The Scent of
Excellence, which splintered off from Cosmoprof ’s Masterpieces section, will inaugurate its first edition here beginning Thursday.
The show is the brainchild of Italian niche fragrance and cosmetics distributors and producers Celso Fadelli of Gruppo HI Herbarium
Intertrade and Silvio Levi of Calè Srl. The pair decided to leave
Cosmoprof ’s Masterpieces section earlier this year because of divergent opinions with organizers.
“With the geography changes to this year’s Cosmoprof, Masterpieces
would have been in a diverse location, the criteria for companies to
be a part of Masterpieces was becoming too elastic, plus the costs for
these small brands and buyers to come to Bologna were restricting,”
Levi said.
He added he believes Milan is a more strategically and financially
viable location for niche beauty brands to converge. Esxence’s four-day
event will showcase 70 niche fragrance and cosmetic brands in Spazio
Pelota, located in Brera, Milan’s historical arts district.
An average, 105-square-foot booth at Esxence is priced at 4,800
euros, or $6,373 at current exchange, almost half the cost of a stand
at Masterpieces, Levi said. Among the international niche fragrance
and beauty brands showing at Esxence are Creed, Bond No. 9, Becca
Cosmetics, Floris and Florentine perfumer Lorenzo Villoresi.
Esxence will also boast a separate section called Spotlight, dedicated to 10 fragrance brands less than a year old, including new Italian
perfume line Sigilli and a collection of scents by Calé — Fragranze
D’Autore.
— Stephanie Epiro
WWD.COM/CLASSIFIEDS
For more career opportunities log on to fashioncareers.com. Call 1.800.423.3314 or e-mail [email protected] to advertise.
We are interested in
Buying Surplus Fabrics & Stock
lots irrespective of quantity. Contact
us: 646.642.3002 / [email protected]
ASSISTANT – OPERATIONS EXECUTIVE
Manage and oversee the Los Angeles operation in terms of inventories,
on-orders and financial aspects of four divisions affiliated with J-Brand
Inc. Minimum 5-10 years knit experience. Report directly to COO. Salary
commensurate with experience. E-Mail to: [email protected]
Designer
$100-120K
Designers
Looking for Designers with
a hip, feminine, sexy aesthetic for all categories.
Knowledge of woven and
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Los
Angeles
location.
Strong current experience
in Junior active wear /work
out wear required. Licensed
brand. Growing company.
[email protected]
973-564-9236
General
knowledge
of
trims, and excellent sketching, presentation and communication skills needed.
Positions are based in our
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design studio.
Spaces
COMMERCIAL
REAL ESTATE
San Francisco based Fitness/Activewear co seeks talented
salesperson w/estab customer base to manage WC territory,
w/focus on promotion of private label & brand Activewear.
Strong mgmt skills & proven ability to develop new accounts
req’d. Must be an organized self-starter. F/T. Full benefits.
[email protected]
Full service shop to the trade.
Fine fast work. 212-869-2699.
Line Design from Concept to Sample,
Merchandising and Business Consulting
By Experienced Designer Manufacturer
T 212 252 9370 | E [email protected]
8th Ave #555 NYC
24/7 Attendant Lobby
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THE BRYANT PARK HOTEL
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Apply online at
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in Corporate Careers!
Apparel Sales - West Coast Region
PATTERNS, SAMPLES,
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PATTERNS, SAMPLES,
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All lines, Any styles. Fine Fast Service.
Call Sherry 212-719-0622.
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Call Lucy 212-840-1136
PLANNER-RETAIL ANALYST $100K++
Great oppty. at this successful NYC
wholesale apparel co .to be the Sr.
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expr: 7+ yrs fashion industry as sr.
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must have expr. working
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Jr. mkt.
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Sal. D.O.E. E-mail resume:
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Fax 917-591-2521 Ph: 914-337-3660
PURCHASING AGENT/
Production Asst. N/E Bronx 3 yrs exp
and computer lit Spanish and college a
plus. Email to: [email protected]
TECH DIRECTOR
$130K+++
LARGE SIZES
Better Collection. Supervise 5.
[email protected] or 212-947-3400
ACCOUNT EXECUTIVE
Results oriented Sr. Sales Account Executive sought to drive and develop our
high end retail account openings.
Luxury Department store experience
required. Position based in Manhattan
w/ 25% travel. Tremendous opportunity to
develop & drive the business. Fax or email
resume & cover letter to: (315)364-8075
[email protected]
Experienced Bookkeeper
Domestic Production Service
Patterns, Samples, Cut & Sew
Ladie’s - Men’s - Children
212-278-8288 E-mail:
[email protected]
Stephan & Co. - Product Development Manager
Major NYC Fashion Jewelry company needs Prod Development Manager
1!& 5 years experience in Fashion Jewelry product development
1/()!& & capable of travel overseas to source & work w/ factories
1Good understanding of customer profile, creative & able to spot new trends
1/$$&+ leadership skill to oversee & direct design dept
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Qualified candidates send resume to: [email protected]
Major NYC Accessory Co. seeking
bookkeeper w/knowledge & experience in wholesale accessory business,
import documents,
A/R and A/P.
Accounting Software Proficiency a
MUST. [email protected]
Major Apparel Company
Seeks 3 positions: Production Coordinator & Technical Designer w/ exp
handling Kohl’s private brand production & technical. Must have full knowledge of Kohl’s requirements and
standards. Replenishment
Planner
/Analyst - Seeking planner experienced in replenishment planning, forecasting and reporting. Kohl’s exp preferred. Great benefits. Email resume
to: [email protected]
DIRECTOR OF SALES
SALES
Missy Sweaters & T-Shirts.
Dept. Store & Specialty - Moderate Price
Call B. Murphy(212)643-8090; fax 643-8127
HANDBAG/ACCESSORY
SALESPERSON WANTED
Major NYC Accessory Company Seeks
Exp’d Salesperson with Relationships
servicing Dept/Mid-Tier/Mass Retailers. Opp to sell globally recognized
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in this category. Base Salary + Comm.
email: [email protected]
Designer look, costume jewelry is seeking a competent salesperson. Salary+
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Int’l fashion designer seeks Sales Dir.
with min 10 years exp. Must have Int’l
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resume to: [email protected]
SALESPERSON
SALES-SWEATERS
Vertical sweater co. seeks sales pro for
Junior & Missy Sweaters. Must have
strong contacts w/Dept. Stores, Chains,
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Send resume: [email protected]
SALES REP
Award-winning
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brand requires multiple line sales rep
to cover East Coast accounts. Strong
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Email resume: [email protected]
®
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