Jason Wu Hits Target in February
Yesterday, we told you the news that Jason Wu would be making a clothing and accessories line for Target but there had been no date set in place. Well, we should have waited a day because the word is that the limited edition collection will be hitting Target stores and Target online next February.
Jason Wu for Target will be available from Feb. 5 through March 6 at most Target stores and on target.com. The collection will feature women’s apparel, handbags and scarves, with prices ranging from $19.99 to $59.99 for apparel and $19.99 to $49.99 for handbags and scarves.
Elie Tahari to Buy Catherine Malandrino
The sale for the Catherine Malandrino brand by Elie Tahari is almost closing to being finalized. Malandrino has been looking for an investor since late last year.
While last-minute negotiations could still derail the transaction, market and financial sources said the two are far along in the process and that the odds are in favor of a deal being completed within the next two weeks. Lawyers are said to be working on the purchase agreement this week. Possible terms of the acquisition were not immediately available, but it is believed to include some of the debt on Malandrino’s books.
J.C.Penney Gets a New President
Michael R. Francis, the former Target Corp. executive vice president and chief marketing officer, is joining J.C. Penney Co. Inc. as president — plus a $1.2 million-a-year base salary and 1 million restricted stock units on Nov. 16. The bonus covers loss of benefits and compensation upon leaving Target.
Francis, who starts his new position today, will be responsible for Penney’s merchandising, marketing, planning and allocation, product development and sourcing functions. He will report to Ron C. Johnson, who becomes Penney’s chief executive officer in November after heading up Apple retail.
The two are expected to bring sweeping changes to Penney’s, which has been striving to cast a younger, hipper fashion image with such merchandising as Sephora, Olsenboye by the Olsen twins and MNG by Mango, yet still lacks sufficient buzz.
– Taneisha Jordan
Source & Photo: WWDSee the Top Ten Summer 2016 Trends for Women Over 40