Week In Review
LVMH has reportedly increased its bid to acquire New York City–based Tiffany & Co. to more than $15.7 billion, according to a recent Bloomberg story. The bid from the parent company of Louis Vuitton, Givenchy, Christian Dior, Fendi and Marc Jacobs, among others, will be the biggest acquisition in the history of the luxury-goods business. On Oct. 28, Tiffany confirmed that it had received an unsolicited proposal from LVMH for $14.5 billion.
Nike Inc. made a strategic investment in HandsFree Labs Inc., it was announced on Nov. 20. HandsFree Labs, based near Provo, Utah, makes footwear that does not require tying laces or even using hands to place shoes on feet. Rather, HandsFree designs slip-on shoes with a heel that rebounds around the wearer’s foot, according to a website for HandsFree’s Kizik brand, allowing the wearer to step into a pair of shoes rather than extending the effort to manually put them on.
Target released results for the third quarter of its 2019 fiscal year on Nov. 20. Same-store sales grew 4.5 percent, according to a company statement. Total revenue for the third quarter was $18.7 billion.
Lee, a prominent denim brand, marked its 130th anniversary this month. It was introduced in 1889 as a workwear brand. A Lee statement said that the brand milestones include introducing a jumpsuit-like one-piece coverall as well as a zipper fly and denim made for women. The brand recently released lines Lee Reissue, Lee MVP, Vintage Modern and Shape Illusions. Chris Waldeck, Lee’s global brand president, said, “Today, we honor the brand’s rich history while planning for its future.”
Mark Cross, a 174-year-old American leather luxury-goods brand, opened a boutique Nov. 15 in New York City. It’s the first standalone Mark Cross boutique since the 1990s, according to a company statement. The boutique is located at 667 Madison Ave. and is connected to a boutique for Naturopathica, a natural beauty and wellness brand. The boutique will carry a range of Mark Cross’s goods for women and men as well as boutique exclusives.
The 22nd Costume Designers Guild Awards will be hosted by writer, comedian and actor Mindy Kaling. The awards show honors creatives in the union Costume Designers Guild IATSE local 892 who work in cinema, television, commercials, video and new media. The show is scheduled to take place on Jan. 28, 2020, at the Beverly Hilton Hotel in Beverly Hills, Calif. Nominees will be announced on Dec. 10, Kaling said, “I’m thrilled to be hosting the Costume Designers Guild Awards. Costume design and fashion are close to my heart, and I promise many, possibly too many, outfit changes.”
Patagonia is one of several brands offering alternate ways of giving during the upcoming holidays. From Nov. 29 to Dec. 31, Patagonia is matching all donations made in support of grassroots environmental groups through its Patagonia Action Works website. It is encouraging giving donations as holiday gifts. Patagonia Action Works connects people to organizations working on environmental issues in their specific communities.