Today’s Fashion Headlines: Monday, May 5, 2014

May 5, 2014 • Fashion Blog, Fashion News

JCrew Presentation NYFW

J. Crew Opening Lower-Priced Line

Budget shoppers rejoice! J. Crew is starting a wallet-friendly line called J.Crew Mercantile. The retailer is currently preparing for the launch of the new chain and trademarked the name back in November. J.Crew has reportedly even signed “a few” leases and is currently scouting more retail locations. Mercantile will carry “merchandise and prices closer to what shoppers would find at J.Crew Factory, than what is available in its full-line stores.”

Gregg Steinhafel Steps Down as Target CEO

Gregg Steinhafel has stepped down as chairman, president and CEO of Target Corp. The company has had challenges lately, including a massive data breach last year. John Mulligan, Target’s chief financial officer, will serve as interim CEO and president until a successor is named. Steinhafel has worked for Target for 35 years and started as a merchandising trainee in 1979. The retailer’s board of directors released a statement saying, “after extensive discussions, the board and Gregg Steinhafel have decided that now is the right time for new leadership at Target.”

Charlotte Olympia Shoes Turned Art Pieces

India Wolf, a sixteen-year-old art progeny and the daughter of artist Maya Lin and art dealer Daniel Wolf, approached shoe designer Charlotte Dellal to create custom Charlotte Olympia shoes for an art project. Dellal obliged and supplied 25 pairs of Dolly pumps in a plain canvas material. Wolf’s parents gave her email addresses of their artist friends, and the teen convinced them to participate. Artists who created creations from the heels include Jeff Koons, Tom Sachs, Richard Prince and Maya Lin. The pieces are featured in “Stepping Up for Art,” which opened Thursday night at the Gagosian gallery on Madison Avenue in NYC.

-Claire Mykrantz

Source: WSJ, WWD 

Image: Businessoffashion.com 

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