Today’s Fashion Headlines. November 3, 2011

November 3, 2011 • Fashion, Fashion Blog

Madonna makes another lifestyle brand, Filene's Basement files for bankruptcy and David Lynch helps with Dom Pérignon

Madonna Launching (Another) Brand

Madonna is launching her second overall lifestyle brand, Truth or Dare by Madonna, aimed at an older customer than the more junior, fast-fashion label Material Girl. The architect of the brand is MG Icon — the joint venture between the Iconix Brand Group Inc., Madonna and Guy Oseary. The first move will be a women’s scent being developed by Coty Inc. WWD first reported on Sept. 14 that Coty was in talks with Madonna about a possible fragrance deal. Footwear, handbags and intimates are expected to follow.

Neil Cole, chief executive officer of Iconix Brand Group, stated, “The interest and excitement globally for brands developed by Madonna are significant. After the highly successful launch of the junior brand Material Girl, we knew there would be a tremendous demand for a brand that Madonna herself is the face of and that truly captures her essence.”

Syms Files for Bankruptcy… Again

Syms, the off-price retailer and owner of Filene’s Basement, on Wednesday filed a voluntary Chapter 11 petition for bankruptcy court protection in Delaware, with the intention to liquidate. It will be the third time Filene’s has been in bankruptcy.

The financial debacle reflects the increasing competition Syms faced from everything from department stores to flash-sale Internet sites that often deal in similar merchandise and similar prices; better inventory control by brands that meant less merchandise, and financial missteps, including the acquisition of Filene’s in June 2009. The business plans to close all of its stores after the Christmas holiday.

David Lynch’s New Campaign for Dom Pérignon

Fresh from flexing his decorating skills for hip, new Paris nightspot Club Silencio, David Lynch has created the new ad campaign for Dom Pérignon. Due for release in December in luxury lifestyle publications internationally, the campaign, with its ghostly sci-fi underworld-flavored landscapes, carries a characteristically dark and dreamlike Lynchian atmosphere. The movie director conceived a series of images for the LVMH Moët Hennessy Louis Vuitton-owned Champagne house. A two-minute behind-the-scenes video of the campaign will debut today or Friday on the LVMH-owned digital magazine

– Taneisha Jordan

Source & Photo: WWD

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