Coty has been trying to court Avon for the last 2 months to try to buy the troubled direct seller – but they abandoned their bid on Monday. So what now?

Investors seem to be taking this seriously and sent Avon’s shares sliding 9.7 percent to close at $18.71 on the New York Stock Exchange on Tuesday. Avon’s declining stock price could prompt another bidder to make an offer for the company.

Industry observers speculate that Coty may make another public offering soon, and look for another beauty firm to buy. Coty chairman Bart Becht said Avon’s presence in emerging markets is what made it so attractive to Coty. Meanwhile Avon’s refusal to engage in talks with Coty over the last several months has left some industry analyst in disbelief. On May 10, following Coty’s sweetened bid of $24.75 a share, or $10.65 billion, Avon said its board “will consider the letter in due course.”

Today, Avon staffers were on the phone calling representatives to instill confidence in the company.

According to WWD, Becht wrote a letter that expressed Coty’s frustration with Avon’s response stating, “Yesterday, we received a two sentence e-mail indicating, without explanation, that Avon’s board would need another week to consider our request. Since receiving your e-mail, we have reached out to Avon’s board, management and advisers to understand why additional time is needed, but we have received no explanation. I find it remarkable that since we made our revised proposal, and despite repeated requests over the last 24 hours, no one from Avon’s board or management has been willing to speak with us, including Fred Hassan, Andrea Jung and Sheri McCoy.”

It will be interesting to see what Coty does next and if anyone else has any interest in acquiring Avon.

- Carol Calacci

Source: WWD, Images: Coty and Avon

The uber-chic Carine Roitfeld in her signature black

Everyone has one word on their lips these days: Cannes. And whether you know how to pronounce it or not (hint: it does NOT have the nasal, Chicago ‘a’ sound), chances are you want the scoop on all the glamour, the parties and general glitterati of the annual film festival.

Among the countless galas, dinners, and screenings, there is a LOT of fashion to be had. And this year, there’s even more of a reason to be bummed your invite got lost in the mail because the matriarch of French fashion, Carine Roitfeld is actually staging her very own fashion show!  As part of the amfAR’s Cinema Against AIDS gala fundraiser on May 24 at the Hôtel du Cap-Eden Roc in Cap d’Antibes, Roitfeld will curate a full-scale fashion show, the theme of which will be……wait for it…..the perfect black wardrobe.

The queen of chic knows quite a but about the hue, considering it’s been as signature to her style as the bob is to Anna Wintour’s. Brands that were hand picked for the show include Alexander Wang, Balenciaga, Roberto Cavalli, Chanel, Christian Dior, Christopher Kane, Emilio Pucci, Fendi, Giorgio Armani, Givenchy, Louis Vuitton and Versace.

The entire collection will be auctioned off as a single lot at the event.  And if you think the show itself sounds amazing, the guest list is sure to inspire some serious party fantasies. The chairs for the benefit alone include Janet Jackson, Kylie Minogue, Karl Lagerfeld, Bérénice Bejo, Ryan Kavanaugh and amfAR chairman Kenneth Cole. Needless to say, we can’t wait to see the post-event photos!

-Alia Rajput

Article Source: WWD

Photo Source: trendland.com

Models Candice Swanepoel & Behati Prinsloo wearing Ash 'BOWIE' wedge sneakers at a recent Victoria's Secret photo shoot*

Every once in awhile I really like something that so totally goes against everything I stand for and I can’t explain why. I mean If I think about it, a wedge sneaker is really ridiculous. It’s not like I am going to wear them with anything but jeans. They would look asinine with a dress. Also, let’s face it, I’m not a kid anymore and even my husband teases me that I sometimes dress like a 24 year-old girl. I don’t think it’s a compliment. Don’t even get me started on cargo pants.

However, when I recently saw the Ash “Austin” and “Bowie” sneaker wedges, I hate to admit, I kinda liked them and loathe myself for wanting a pair. I mean seriously? The fact that gorgeous 20 -something Victoria’s Secret models are wearing them (see above) should be enough to make me run screaming. Now when I saw the Ash “Gin” Wedge Sneaker last year I laughed. It looks like a Converse gone rogue. But there is something about the suede and canvas newer version that intrigues me. I can’t look away. Now I have to say I am personally more drawn to the solid ones, but the multi-colored, color-blocked ones don’t offend me. However, the versions with the Velcro closures do. I would love to get a pair, but live in fear of being teased by my husband. Then again, does he really have to know? Do I really care? Should I get a pair or just grow up?

Ash Austin in Black Suede/Canvas $135 (I dig the studs)

Ash Bowie in Apple Suede $225

Ash Bowie in Black/Stone $235

Find Ash Wedge Sneakers at: ashfootwearusa.com

* Note: the Ash Bowie sneaker worn by the models in the picture above will not be available until late summer. When they are, I really want the blue pair!

- Lauren Dimet Waters

Remember this 80's classic?

Yes, Benetton is still around and if you are in my age-group you have a soft-spot for the label that meant everything in our teenage years. In fact, I am proud to admit one of my first retail jobs was with Benetton. I spent two summers working at the Benetton Outlet in Niagara Falls, NY. The outlet has since left town, but somewhere buried in a box are a few of my old cast-offs. What is sad is that unlike the Gap, but like Esprit, Benetton is a brand I have not worn in ions. I have long outgrown it.

According to WWD, four months after it revealed plans to go private, Benetton Group will delist from the Italian Stock Exchange as of May 31. The Italian apparel manufacturer and retailer cited increased costs of raw materials, such as cotton and wool, and slow economies in the group’s main markets, such as southern Europe, have hurt its bottom line. In the three-month period ended March 31, the group’s net profit dropped 48% and revenues fell 5.5%.

Biagio Chiarolanza, Benetton’s CEO for operations, foreign business units and finance, said this “unsatisfactory result” was in line with expectations. “We know that the repositioning will not be easy, and the first quarter results confirm that. Nonetheless, the process is under way and will continue with determination, even though, with the economic crisis affecting the principal markets for our products, a rapid recovery cannot be expected,” remarked Chiarolanza.

Luciano Benetton, cofounder and chairman of Benetton, said last month that after 47 years, he was passing the baton to his son Alessandro, who was previously executive vice chairman. This has not helped the situation. Benetton said it will continue to strive to optimize costs efficiently. We wish them luck.

- Lauren Dimet Waters

Source: WWD

Photo: 80scasualclassics.co.uk

This challenge actually started out of necessity. I recently attended a formal wedding reception and was left in a quandary while getting ready. I was wearing a black gown and black shoes, so when it came time to grab a clutch I forgot all I have is black and for some reason it really unnerved me. Why are all of my clutches black and how did I allow that to happen? Now that vibrant colors are so in for Spring 2012, I am bored to death with my handbag selection which is primarily safe black. I gravitate towards color, but when it comes time to lay down my credit card and spend big bucks, I go with black because I know I will get more use out of it. Well my plan has backfired. I carried one of my black clutches, but I wasn’t happy about it and vowed I would find something more colorful ASAP.

So while browsing my favorite sites the next day for a colorful clutch, I happened upon this striking bright tangerine (the color of the season) Roberto Cavalli Ambition Python Clutch and my heart literally skipped a couple of beats. Yet, at$4,585 I knew I had to keep looking, but the bar was set…really high. My criteria was the clutch had to be dressy enough for evening, yet cool enough to carry for an evening out in jeans. It’s much easier to dress down a formal clutch than it is to dress up a casual one. Here are 10 colorful clutches I found for way under $4,500:

1. ASOS Contrast Buckle Clutch, $31.31

2. Yves Saint-Laurent Chinese Blue Belle De Jour Clutch, $595

3. Maison du Posh Blue Leather Knuckle Clutch, $665

4. ALDO Rottman Clutch, $60.88

5. BCBG MAXAZRIA Emerald Clutch, $178

6. Kate Spade New Yerk ‘Ellie’ Clutch, $228

7. Marc by Marc Jacobs ‘Katie’ Clutch, $358

8. Jimmy Choo Cayla Patent-Leather Clutch, $1,150

9. Rebecca Minkoff ‘Fairy Tales Clutch, $195

10. Angel Jackson Orange Snakeskin Clutch, $343

- Lauren Dimet Waters

Image Layout: Katie Schmitz

GaGa Too Sexy for Indonesia

The Indonesian police have denied Lady Gaga‘s permit for her sold-out June 3 show in Jakarta due to security concerns over threats made against her and outfits. According to the AP, a fringe group of Muslim extremists has criticized her sexy ensembles and promised to use physical force to prevent her from performing. The local and national police are worried that they won’t be able to guarantee Gaga’s safety and have therefore recommended that she cancel her visit and concert — which was to be the biggest on her Asian tour, with 52,000 attendees in total.

J.C.Penney Still Has Losses

J.C. Penney Co. Inc. logged a $163 million first-quarter loss, but chief executive officer Ron Johnson signaled that the retailer’s transformation is “way ahead of schedule” and setting the store on a more fashionable path. “We are proactively going through a year of transformation, learning every day, but in the big picture, it’s just one year,” Johnson told a crowd of almost 400 analysts and vendors at a presentation in Manhattan.

And are you confused with the pricing system? You’re not the only one. Still, Penney’s new pricing structure isn’t resonating enough and still needs to be clarified. “We’ve got to get our pricing across,” Johnson stated. “We’re not everyday pricing. We run 12 promotions a year,” as well as clearances every first and third Friday of the month, which are being marketed now as “the big deal starts today… We didn’t have enough impact in the store on pricing,” he admitted.

Time for Another Target Shop!

The Shops at Target’s just started on May 6…. and now it’s almost time for another one! All four, like the first set, will last six weeks. The new ones will be introduced Sept. 9 and will include Boston-based Patch NYC, Kirna Zabête, Odin and The Curiosity Shoppe. Odin co-founders Eddy Chai and Paul Birardi focused on sweaters, Henleys, button-downs, pants, shoes and accessories, as well as a black moleskin jacket while Kirna Zabête created 100 styles for Target, including original prints with signature motifs such as kisses.

- Taneisha Jordan

Source: WWD; NY Mag
Photo: Racked

You won’t believe the “problem” I had today. The forecast said it would be a low of 50 degrees to a high of 80 degrees. So it may get warm in the afternoon, but cool if I am near Michigan Avenue or by the time I leave the office later tonight. So the “problem” regarding what to wear was easily solved with a lightweight t-shirt, jeans and a leather jacket. I realized that this is what it must be like to live in sunny California!

Top: Torn by Ronny Kobo Cheetah Peplum Top, no longer available. This Torn by Ronny Kobo Kaitlyn Cheetah Dress, now $107.50,  is so short it could be worn as a top, or see this Markus Lupfer Leopard-print Jersey T-shirt, $190

Jacket: All Saints, no longer available. This Lot78 Riley Leather Biker Jacket with Adjustable Sleeves, $1,545 would be a great investment.

Jeans: G-Star Arc Loose Tapered in Track Destroy, $240

Necklaces: Long Copper Crocheted Necklace and a Mixed Metal Shorter Chain Necklace, no longer available. I wanted to wear a mix of metals to blend with the gold hardware on my handbag. Try this Urban Outfitters Bazaar Bells Necklace Copper, $30 with this Michelle Roy Short Multi Chain Necklace, $60. Or juts wear one piece like this Ben-Amun Multi-Chain Necklace, $170.

Handbag: Gorgana Black Leather with Gold studs, no longer available. This Marc Jacobs Rio Studded Leather Tote, $1345 is similar.

Shoes: Joe’s Jeans Wedge Slides, no longer available. I would like to own these Pedro Garcia Open Toe Wedge Sandals, $460, too!

Hair: Cut and Color by Sassoon Chicago

– Carol Calacci

Photos: Barry Weiss

Apparently, I’m not alone. In today’s NY Post Page Six even famous transgender artist Amanda Lepore refused to wait in line with the masses yesterday morning. When she arrived at around 9:30 am, there were already 300 women waiting in the rain, some having been there since 5:30 a.m! However, a witness told Page Six, Lepore “started at the back of the line, decided she wasn’t going to wait and proceeded to waltz directly to the front of the 300 people waiting, and demanded to be let in first…and she was! The rest of us would never be that lucky. Rain-soaked shoppers were rightfully pissed.

The invite-only event is the sample sale of the season. Red-sole loving women not on the list try desperately to talk their way past the door staff, with tactics including name-dropping Louboutin employees, “claiming they were basketball wives” or attempting to sneak through the freight elevator. #FAIL. Everyone on the list was given a stamp at the front door, which they had to show to get into the third-floor sale. The sale will continue later this week, but if you’re not on the list, not a fast talker, nor famous, good luck.

There is a rumor that the sale may open up to the general public on Friday, but who knows? If you want to keep a watchful eye on the sale visit Madison Avenue Spy or Racked NY.

Is Galliano back in the game?

After remaining under the radar for some time now, John Galliano may be emerging back into the fashion world. But is the fashion world ready?

The fallen head of Dior has been among the whispered names affiliated with the revival of legendary fashion house Schiaparelli, which has been receiving a ton of publicity (hello, Met Ball?) from it’s current Costume Institute exhibit. The relaunch of the label has been taken over by industry titan Diego Della Valle, who bought all of  Schiaparelli’s trademarks and archives back in 2006, and mostly recently. picked French model and filmmaker Farida Khelfa to be the brand’s face and spokesperson.

Della Valle confirmed that the new label will feature  accessories, makeup, and cosmetics, with some clothes as well, and will only produce two collections per year. But as for who will turn Della Valle’s visions into reality? The magnate is keeping mum. Even to world renown fashion journalist Cathy Horyn of the Times: “Asked if he might consider John Galliano, Mr. Della Valle pulled a good poker face. There have been rumors, he said: “One week it’s Galliano, the next it’s someone else.” He expects to hire someone by September. Finding someone with the skill for Schiaparelli is hard enough, but many designers are used to perks and big budgets, and these don’t seem things they will find in a brand trying to create a new experience.”

Yes Galliano’s name seems to keep coming up in the rumor mill. Even W editor Stefeno Tonchi opened up at last week’s Met Gala and publicly announced that he would love to see Galliano back in the biz. ”There are a lot of designers that I think would do a great job,” Tonchi told New York Magazine. “Very soon they will make the announcement, so I already know a little bit too much. But I thought that it could be fun to have John back doing it — as in, Galliano.”  He continued, “But you know, that’s too much of a risky proposition probably. At least for America. But I think he’s really talented.”

So who knows, is the world – or at least the fashion world – ready to forgive John Galliano and welcome him back with open arms? Or at the very least, learn to tolerate his eccentricities? It seems like we’ll soon find out!

-Alia Rajput

Article Source:  NY Mag, New York Times

Photo Source: theantiroom.com

Soludos x Opening Ceremony

Everywhere I turn it seems Soludos is doing a collaboration. Expect to see their reasonably priced espadrille flats everywhere! However, the first collaboration series they participated in was with Opening Ceremony. Due to the success of the first two Soludos x Opening Ceremony collaborations last year, the espadrille label and the cutting-edge retailer have teamed up again to produce seven new exclusive styles this season.

Opening Ceremony is putting its own edgy spin on the classic, colorful collection with out-of-the-box, exclusive designs and fabrications including brilliant neon stripe linens, natural raffia, and cool perforated leather. With built-in comfort and specially added design details, it is sure to be the most coveted shoe for summer – whether at the beach, strolling the city, and everything in between.

The Soludos x Opening Ceremony shoes retail for $40-$45 each and are available exclusively at the retailer’s locations in NYC, Los Angeles, Japan, and online now at  openingceremony.us.