A lot has been going on in fashion and I’ve listed the best news stories and editorials in this week’s Good Reads.
LVMH is Buying Christian Dior Couture for $7.1 Billion
LVMH Moët Hennessy Louis Vuitton, parent company of Louis Vuitton, Céline, Givenchy, and more, was all over fashion news when it announced that it will be purchasing Christian Dior. The French luxury brand will reportedly be purchased for $13 billion. LVMH will buy Christian Dior Couture from Christian Dior SE, the brand’s parent company, for $7.1 billion. The company will also offer to buy the 25.9% of Christian Dior SE it doesn’t already own. That includes, of course, haute couture, leather, men’s and women’s ready to wear, and shoes. The offer, which will be made by the Arnault Family Group, will include €172 (about $187) cash and 0.192 Hermès shares per each outstanding Dior share. The deal would also be completed by secondary offers in both cash and Hermès shares.
Read the full article here on Fashionista.
J. Crew Plans to Cut 250 Jobs
J Crew was all over fashion news when it announced that it will be cutting 250 jobs. The jobs will mostly be cut from the brand’s headquarters team including 150 full time jobs and 100 open positions. The job cuts will save the brand about $30 million annually, however, severance pays and other costs will cost the brand about $10 million. Frank Muytjens has also resigned as head of menswear design. Muytjens resignation comes just a couple of weeks after the news that Jenna Lyons resigned as President and creative director of the brand after 26 years. Lyons had been replaced by Somsack Sikhounmuong, who was previously women’s Head of Design. She is now, however, in charge of the women’s, men’s, and children’s design teams.
Read the full article here on Wall Street Journal.
What Fits: Chanel WOC (Wallet On Chain) Bag
PurseBlog has written about the Chanel Wallet On Chain but rather than writing a review, the online fashion news publication has written about what fits in the bag. The Wallet On Chain is a small clutch so not much fits in it. You can fit a small wallet or card holder, a phone and a few other things. The Wallet On Chain is more of a bag that you’d use to go out.
Read the full article here on PurseBlog.
Ivanka Trump apparel labeled under another name at discount retailer
The Ivanka Trump clothing line’s licencer, G-III Apparel Group, was all over fashion news when it reportedly relabeled the brand said as Adrienne Vittadini without the brand’s consent. The company then sold the products to discount retailer Stein Mart. Representatives for the Trump brand did not respond to requests for comment. G-III Apparel Group, which owns DKNY and makes clothes for Calvin Klein, Tommy Hilfiger, and more confirmed the reports saying the relabeling was an error. Though the reason the brand was relabeled is currently no known, a source from Stein Mart say customers have been giving negative comments about it. The source also talked about a customer “spitting on a blouse in front of a cashier before storming out of a store.” Stein Mart CEO D. Hunt Hawkins, however, said the relabeling was not political.
Read the full article here on Market Watch.
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