Net-a-porter Partners with Eres
Luxury swimwear and lingerie brand Eres has partnered with Net-a-porter to sell its designs. Eres will launch on the e-commerce site Friday with pieces from Eres’ spring collection and a new Sun Wear line. “We decided to enter into a partnership with Net-a-porter because we’ve had a positive experience with them for two-and-a-half years. They cater to luxury customers, are a major player on the internet, and the way they treat the brands is quite up to the level of Eres,” said Olivier Mauny, managing director of Eres. The Eres’ fall collection will be available on Net-a-porter in July, which features cashmere pieces.
Tom Ford E-commerce Site Debuts
Tom Ford’s sleek new e-commerce site is up and running. It currently sells beauty and accessories, including shoes, jewelry and eyewear. The bold landing page is slightly NSFW, featuring a model wearing only a bag and heels. Ford has said he plans to sell ready-to-wear on the site in the future.
J. Crew Plans 2014 Store Openings
This year, J. Crew anticipates store growth and has planned openings for 20 J. Crew stores, 20 factory outlets and 20 Madewell stores. Four of the J. Crew openings will be in Canada, two in London, and two in Hong Kong. Both J. Crew and Madewell are experiencing growth online, with sales up 16 percent from last year. Interestingly, J. Crew menswear and accessories have been performing better than the women’s clothing.
American Apparel Maintains CEO’s Control
Dov Charney, the controversial CEO of American Apparel, has survived creditors including Goldman Sachs by selling $30.5 million of newly issued shares of the company. Though this transaction diluted the current shareholders by as much as 50 percent, it lets Charney keep control of the company by meeting a $13.7 million interest payment on debt. Sources indicate that creditors are holding more than $200 million in loans and have hired the investment bank Houlihan Lokey and the law firm Milbank Tweed in an attempt to seize control of the retailer and fire Charney. “Dov Charney is the cat with 900 lives,” said Billy Susman of Threadstone LP, a New York investment bank. Yesterday American Apparel shares plunged 22 percent to 59 cents, but Charney isn’t worried. “It’s like the Obama computer- it’s hard to say what happened. But it’s totally fixed now,” the CEO said, referring to the unsuccessful launch of healthcare.gov.
– Claire Mykrantz
Source: WWD, WSJ, NY Post
Image: WWDSee the Top Ten Summer 2016 Trends for Women Over 40
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