Could Dior Have Raf Simons?
Since the recent deal appears to have fell through with Marc Jacobs, their are talks that Christian Dior could be closing the deal with Belgian designer Raf Simons to become its next couturier. A deal with Simons, 43, has yet to be concluded, and sources cautioned that several key details must be worked out. Chief among them would be a start date, given that Simons, creative director at Jil Sander since 2005, would have to unravel his contract with that Milan-based house, which is understood to have been extended recently for an unknown duration.
What’s more, given the rapid cycle of collections at a big couture house, it’s unlikely any newly installed designer would be able to produce a collection in time for Paris Fashion Week in March, let alone the couture in January. Dior reps declined to comment.
Prabal Gurung Giving Sephora Employees a New Look
Sephora has commissioned designer Prabal Gurung to create new uniforms for all Sephora beauty advisers in North America, which will bow in late April. The new additions, which will be the first change to the retailer’s employee wear since 2001, consist of a black shift dress with red trim and a fitted black pantsuit with red accents for women, and a black shirt, black sweater with red accents and black pants for men.
“My intention was to reflect the style and playfulness of shopping in a Sephora store, but to also make sure they would be functional in such a fast-paced environment,” the designer noted. “The dress incorporates one of my favorite design elements, offering a flash of vibrant red, while the women’s pant suit and the separates for men give a sleeker, more tailored look.”
Added Sharon Rothstein, senior vice president of marketing for Sephora: “Prabal’s ability to design clothes that are modern and cool yet accessible to all women reflects Sephora’s ideal of client-inspired beauty. Prabal has truly harnessed our brand aesthetic.”
Again with American Apparel Trouble
American Apparel is exploring new avenues for financing as negotiations with Colbeck Capital, a private equity firm backed by Ron Burkle, have stalled and a deal looks unlikely to come to fruition. The parties had been in discussions since August about a financing deal worth between $90 million and $100 million, but American Apparel Inc. executives balked at the high cost of the capital infusion, according to sources close to the talks. American Apparel needs fresh financing to pay off a Bank of America credit facility that matures in July, on which the company owed $47.6 million as of Oct. 31.
Colbeck Capital management was seeking high entrance and exit fees for the loans, in addition to interest payments. “The pricing was on the high side, primarily structured around commitment and exit fees,” said a source. Tom Casey, who exited American Apparel as acting president on Nov. 18, was said by sources to be in favor of the Colbeck Capital deal, as he had a close relationship with Burkle. Chief financial officer John Luttrell was said to be against the deal, as was Lion Capital head partner Lyndon Lea, who was wary of entangling American Apparel’s debt load with Burkle’s interests.
– Taneisha Jordan
Source & Photo: WWDSee the Top Ten Summer 2016 Trends for Women Over 40