Dolce & Gabbana Sentenced to Prison in Italy for Tax Evasion
Yesterday, a court in Milan convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion. They were found guilty of failing to declare 200 million euros ($268 million) to authorities and given a jail sentence of one year and eight months. The duo must also pay a penalty of 500,000 euros (about $670,000) to tax authorities. On the bright side, the court did acquit them of misrepresenting income of 416 million euros (around $560 million) each.
Karl Lagerfeld… the Video Game
Karl Lagerfeld is back in a video game! He taunts players to try and remove his sunglasses with the click of a mouse. The game will be live for a month to promote Lagerfeld’s latest eyewear collections. Only French residents can claim the prizes in the game, but anyone can play the game at jeveuxleslunettesdekarl.com.
Saks Opening in Hawaii
Even though Saks Fifth Avenue has been steadily closing stores, the upscale retailer has decided to open one in Hawaii. The new location will be in the International Market Place in Honolulu. This store is Saks’ first in Hawaii and will open in 2016.
Men’s Wearhouse Founder Fired
Yesterday, Men’s Wearhouse announced it has fired George Zimmer, the founder, face of the company, and executive chairman. Zimmer appeared in many of the TV commercials saying the slogan “You’re going to like the way you look. I guarantee it.” Men’s Wearhouse gave no reason for the abrupt firing of Zimmer, who built the company from nothing. Though Zimmer handed over his CEO title to Douglas Ewert in 2011, he was the company’s loveable face and his slogan was iconic. In 1973, a college-age Zimmer opened the first Men’s Wearhouse store in Houston, which sold $10 dress pants and $25 polyester sport coats. He owned 1.8 million shares of Men’s Wearhouse and had a 3.5 percent stake in the company.
– Claire Mykrantz
Source: WWD & NY Post
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