Today’s Fashion Headlines: October 22, 2012

October 22, 2012 • Fashion Blog, Fashion News

Prabal Gurung coming to Target, HMX Group files Chapter 11 (again) and DSquared2 gets a license

Prabal Coming to Target!

Target announced just this morning that the company is doing a collaboration with designer Prabal Gurung. The up-and-coming designer will introduce a limited-edition collection of women’s ready-to-wear and accessories, including handbags, shoes and jewelry. The collection will reflect Gurung’s distinct aesthetic, with impeccable tailoring and feminine silhouettes, and features striking prints, hot-hued palettes and sleek styles that will add dimension to any woman’s wardrobe. Standout pieces include refined dresses, mixed-media skirts, edgy blazers and striking shoes with prices ranging from $19.99 to $39.99.

“I am so thrilled to be working with Target on a collection that brings my designs to a wider audience,” said Prabal Gurung, designer. “This collection was inspired by love and if Target’s guests can feel even a little bit of the love that I felt while I was designing this collection, then I will consider it a job well done.” The collection will be available Feb. 10 through March 23, 2013, or while supplies last, at all Target stores and Target.com.

HMX Group Files Bankruptcy

Will it work the second time around? That is the question hanging over HMX Group and its related operations, which on Friday filed a voluntary Chapter 11 petition for bankruptcy court protection in Manhattan. This is the second time in four years the company has gone into bankruptcy. While a deal is in place that could keep factory jobs in the U.S., there’s no guarantee that plan will come to fruition and, if it doesn’t, the venerable men’s wear brand could once again find itself a political issue in a presidential election race centered around the economy and American jobs. Both President Obama and challenger Mitt Romney are known to wear the firm’s brands.

According to the Chapter 11 petition, the company listed assets of up to $50,000 and liabilities of between $50 million and $100 million. HMX — which owns as its core brands Hickey Freeman and Hart Schaffner Marx — also has up to a $65 million debtor-in-possession credit facility with Salus Capital Partners, its pre-petition lender.  As part of the bankruptcy filing, HMX signed an agreement to sell the company to Authentic Brands Group, with the firm’s U.S. factories, showrooms and other assets of the operating component to be sold to a new entity, or Opco, that will be owned and managed by existing management. As the licensee, Opco will be required to pay a royalty to Authentic Brands.

DSquared2 Inks License

Dsquared2 has inked a three-year licensing agreement with Italian manufacturer ISA for the production and distribution of its men’s and women’s underwear and swimwear lines. The first results of the collaboration will be unveiled in January during Milan men’s fashion week, where Dsquared2 will preview the first pieces produced by silk specialist ISA. “We decided to collaborate with ISA because it’s a great firm that we have always respected and appreciated,” said Dan Caten. “We are certain that this partnership will bring great results.”

“We are [pleased] that Dsquared2 has chosen us for their new license and given us the opportunity to partner with two of the most vivacious and creative designers worldwide,” said ISA chief executive officer Christian Thirty. “With our development and production expertise, and Dean and Dan Caten’s creative talent, we are confident that we will be able to attract many clients around the world.”

– Taneisha Jordan

Source & Photo: WWD

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