June 4th, 2012

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Jones Group to acquire Brian Atwood brand

Monday, June 4th, 2012

The Jones Group today (4 June) announced plans to acquire the Brian Atwood footwear brand.

Jones and Atwood are forming a joint venture, which owns the intellectual property of the brand and its existing licenses. Atwood will retain an ownership stake in the brand and continue in his role as creative director and designer, with broad over all aspects of the brand’s creative direction and image.

The Jones Group said it will accelerate the development of Brian Atwood as a “global luxury brand, supporting the expansion of his vision into other categories”, which are likely to range from jewelry to apparel and help the transform the designer into a global lifestyle label.

The deal follows the launch of the B Brian Atwood footwear line in 2001 under an exclusive licence deal with the Jones Group. It also marks Jones’ third major footwear acquisition in the past two years. In 2010, the company snapped up Stuart Weitzman and last year nabbed London-based luxe retailer Kurt Geiger.

“”Brian Atwood is a brilliant designer and our acquisition of his brand marks another milestone in our ongoing mission of developing The Jones Group into the leading portfolio of global fashion brands led by exceptional talent,” said Jones Group president and CEO of branded businesses Richard Dickson. ”The enhancement of our partnership is an important recognition of the talent we believe Brian Atwood possesses to become one of the world’s important brand names in fashion.”

Atwood, who launched his collection in 2001, said he is looking forward to the expanded relationship. ”The Jones Group is an exceptional partner,” said Atwood. “I am excited to enter into a deeper partnership with Jones, which has both the business acumen and brand expertise that will help me realize my dream of a fully developed Brian Atwood brand. I look forward to the next chapter.”

The financial terms of the agreement were not disclosed

Posted in Brand, Collaborations, Finance, News, Operations, Retail, accessories | No Responses »

Sears Holdings appoints Huckins as corporate treasurer

Monday, June 4th, 2012

Sears Holdings announced today (4 June) that Scott Huckins will join the company as vice president and corporate treasurer. Mr. Huckins comes to Sears Holdings from RSC Holdings where he served as vice president and treasurer, responsible for global treasury, credit and investor relations activities.

“Throughout the course of his career, Scott has led a variety of public and private capital markets activities, worked extensively with private equity investors and served as the lead in managing relationships with banks and ratings agencies on numerous financing transactions. He has also overseen substantial pension plan assets, managed M&A transactions and developed strategic plans and valuation frameworks,” said Rob Schriesheim, Sears Holdings’ executive vice president, chief financial officer.  “This combination of strategic and financial experience complements our continued transformation of Sears Holdings and our strong focus on financial discipline.”m

Mr. Huckins added, “Sears Holdings has a strong balance sheet and a rich portfolio of assets that ensures it is well positioned to execute on its plan for transformation.”

Prior to RSC Holdings, Mr. Huckins spent seven years with Koch Industries, a diversified conglomerate with $90 billion in annual revenue. In his most recent position, he served as President and CEO of Koch Financial Products, LLC, a business with a $2.7 billion credit derivatives portfolio. He previously served as Koch’s corporate treasurer overseeing all global treasury activities; and earlier he served as CFO of a wholly-owned Koch Portfolio Company. Prior to Koch, Scott was a vice president of capital markets at FINOVA Capital Corporation where he focused on asset securitizations.

Mr. Huckins holds an MBA from Northwestern University’s Kellogg School of Management and a bachelor’s degree in Finance from Arizona State University.

Source: PR Newswire

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Vince Camuto, Kurt Geiger in European Distribution Deal

Monday, June 4th, 2012

Vince Camuto and Kurt Geiger have entered an exclusive retail distribution agreement for the Vince Camuto, VC Signature and Jessica Simpson brands throughout Europe. Under the agreement, Camuto and Kurt Geiger, Europe’s largest luxury shoe retailer, will partner exclusively in the U.K., Ireland and Germany. The deal is effective for holiday.

Kurt Geiger operates freestanding stores and multibranded footwear concessions within major stores throughout Europe. Retail partners in the U.K. will include Harrods,  Liberty, Selfridges and House of Fraser, while Brown Thomas and Karstadt are on board for Ireland and Germany, respectively. In addition, Camuto’s footwear will be carried in Kurt Geiger’s independent stores. Camuto and Kurt Geiger also plan to open a freestanding store in Central London in spring 2013, under the Vince Camuto banner. A location is currently being sought.

“This is very exciting. They’re a premium retailer,” said Vince Camuto, founder and chief executive officer of Camuto Group.“We believe that the partnership will allow both companies to achieve significant growth within the European market. We look forward to working closely to develop strong brand identities within the region and continue to expand strategically.” Kurt Geiger shops will offer footwear and handbags from the Vince Camuto, VC Signature and Jessica Simpson collections.

Last year, the Jones Group bought the London-based Kurt Geiger from private-equity firm Graphite Capital for about $350 million, including debt. Kurt Geiger has an extensive international retail network and strong position in the high-end market.

Neil Clifford, chief executive officer of Kurt Geiger, said he believes that Camuto’s brands will help support Geiger’s strategy to become “the strongest footwear accessory player in Europe.”

Kurt Geiger has 66 stores worldwide, 124 concessions within the U.K. and Europe’s major department stores, and operates kurtgeiger.com and us.kurtgeiger.com. Kurt Geiger sells more than 150 luxury and contemporary brands within its retail distribution.

Posted in Brand, Collaborations, News, Operations, Retail, accessories | No Responses »

Fast Retailing’s sales dip 10.3% in May

Monday, June 4th, 2012

Japanese retailer Fast Retailing saw domestic same-store sales decline 10.3% during May, which it attributed to cooler weather and fewer weekends and public holidays over the month.

The company, which operates the Uniqlo chain, said sales on its own stores declined 7.3%, while total sales sales, including online sales, were down 6.9%.

“Despite strong sales during the Golden Week holiday in early May and our campaign to celebrate Uniqlo’s 28th anniversary in late May, same-store sales for the whole of May dipped year on year with two fewer Saturday, Sunday and public holidays for shopping compared to the previous year, and cool weather in the middle of month dampening sales of summer garments,” the company said.

The company closed two stores over the month.

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Pacific Brands appoints Bush as chairman

Monday, June 4th, 2012

Pacific Brands’ chairman James MacKenzie has decided to step down from his role at the Australian apparel manufacturer.

He will be replaced by Peter Bush, who is currently a non-executive director of the company.

Bush has held senior roles with SC Johnson, Reckitt & Coleman, Ampol/Caltex and was CEO of AGB McNair and Schwarzkopf, as well as McDonald’s Australia.

The company recently abandoned talks over the potential sale of the company to private-equity firm KKR and has warned that earnings would be “materially down” for the rest of the year.

Posted in Apparel, Brand, Labor, News, Operations, Retail | No Responses »