Inside The Industry
Lucky Brand has donated more than 20,000 nonmedical face masks to its charitable partners as of May 15, said Allison Charalambous, the denim brand’s senior manager of sustainability and social responsibility. “It has been extremely rewarding to support a variety of organizations that continue their valuable services throughout L.A. County for veterans, the unhoused, housing insecure youth, low-income families and seniors. Despite the risk, these organizations realize their services are essential, now more than ever,” she said. The brand also has been preparing to reopen its Lucky Brand stores. A May 8 statement on Lucky’s website said that the brand would supply each store with cleaning kits, which will include face masks. Also on May 8, Lucky reopened its store at the Nebraska Crossing Outlets in Gretna, Neb.
Rebag, a luxury-resale platform, announced $15 million in Series D Funding, which will bring its total funding raised to $68 million. The investment, led by private-equity firm Novator, included existing investor General Catalyst. The investment will build its technology infrastructure, said Charles Gorra, Rebag’s founder and chief executive officer. “We believe the current environment is going to accelerate the transition toward resale. At Rebag, we built a brand and a platform that can cater to that growing audience. New opportunities will arise, and we are gearing up to capitalize on the secular trends toward resale ubiquity,” Gorra said.
YKK Corporation of America will be expanding its array of products for personal protective equipment made by U.S. manufacturers, said Jim Reed, YKK’s president. “The YKK team is turning to our corporate philosophy for guidance—the ‘Cycle of Goodness,’ which teaches us that ‘no one prospers without rendering benefit to others,’” he said. YKK products include zippers and a variety of metal wire, hook-and-loop, injection-molded plastic parts, webbing, snaps, closures, and buttons. They can be used for items such as surgical gowns and HAZMAT suits.
Simon G. Jewelry, headquartered in Glendale, Calif., announced that it opened its first direct-to-consumer channel at simongjewelry.com on May 11. A portion of proceeds from the new channel’s sales will be directed to bricks-and-mortar jewelry stores located near to individual consumers making purchases, said Zaven Ghanimian, Simon G.’s CEO. “Our retail partners are the foundation of our business, and to make an extreme adjustment would have to positively impact them. We came up with a strategy that gives the consumer direct access but still benefits those bricks-and-mortars that built our business,” he said.
John Varvatos Enterprises filed for Chapter 11 bankruptcy May 6 at U.S. Bankruptcy Court in the District of Delaware. The New York–headquartered Varvatos is more than $140 million in debt. The bankruptcy is part of a plan to sell the company to an affiliate of Lion Capital LLP, which is an existing Varvatos investor, according to a brand statement. The Varvatos brand is observing its 20th anniversary this year. It cultivated a reputation for high-end men’s casualwear and suiting, as well as marketing campaigns that featured rock stars such as Iggy Pop and the band Kiss.