American Apparel on the Brink of Bankruptcy
Bankruptcy is imminent for retailer American Apparel. The company not only faces a large bond payment due in the next three months, but is also facing legal bills due to former CEO Dov Charney concerning sexual harassment allegations. Michael Bigger, who owns about 100 shares after reducing his stake earlier this year, said, “My expectation is that the quarter will be horrible.” Even after borrowing money in April from Standard General to make the twice-a-year bond payment, American Apparel still needs to come up with $15.4 million to make an Oct. 15 debt payment. Although Standard General controls his voting rights, Charney remains the largest shareholder. He is fighting to return and has sued American Apparel and Standard General after his firing.
Abercrombie’s New Athleisure Line
Abercrombie & Fitch’s rebranding is in full swing with an extension of their women’s athleisure line. Athleisure has been taking the fashion world by storm, but this line is especially important for the college-friendly market the company appeals to. The brand’s release says, “The collection is a nod to the brand’s athletic heritage, featuring sporty items that can be dressed up or down including cropped fleece tops, structured leggings, tanks with mesh inserts and ribbed jersey dresses.” The new pieces will debut online and in-stores today, ranging in price from $15 to $160.
Calvin Klein Promotes Sexting and Tinder for #mycalvins
Calvin Klein is marketing for the masses with sexting and Tinder to fuel its next #mycalvin campaign. “Our past campaigns have been more image-driven and this one was about starting a conversation through provocation,” said Melisa Goldie, Calvin Klein Inc. chief marketing officer. One image depicts two women and a shirtless man made to look like the picture was shot just before they engaged in a sexual act. A textbox in the corner of the picture reads “Hahah a light threesome never hurt anyone ☺ ☺ ☺.” The brand aimed to start a dialogue about how people approach dating in the digital world. “We’re highlighting the truth about dating- the meet up, the hookup and the freedom that you have through the digital dating landscape and how instantaneous it is,” Goldie said.
Sources: Racked, NY Post, WWD
Photo: NY PostSee the Top Ten Summer 2016 Trends for Women Over 40
Tags: abercrombie and fitch, abercrombie athleisure, Abercrombie rebranding, American Apparel, Amy Donkel, Athleisure, Calvin Klein, Dov Charney, Fashion Headlines, fashion news, Melisa Goldie, my calvins, online dating, sexting, Standard General, Tinder