IN THE KNOW – WEEKLY NEWS DIGEST VOL. 3

The news in the fashion world seems to be following themes every week. This week besides the squabble between the two artists – Kidult & Marc Jacobs, all the news looks financial and top management related.

Marc Jacob and Kidult..the love story continues

Marc Jacobs faced a second act of vandalism by graffiti artist Kidult, this time covering his Paris store. French graffiti artist Kidult tagged the shop windows with “$686” in neon green paint. The numbers reference when the first run-in they had when Kidult tagged the brand’s SoHo store in May last year with the word “Art” in bright pink. Jacobs printed a photograph of the work onto a line of T-shirts and sold them for $686.

Marc Jacobs Paris store tagged by Kidult

Marc Jacobs Paris store tagged by Kidult

Kidult, who has previously tagged the storefronts of both Celine and Hermes, tweeted an image of his work writing, “680? 689?…686?! How much are you going to sell this for? #kidultarmyparis #thisisnotart.” 

Once again, Marc Jacobs responded to the graffiti artist’s attack with humor, tweeting to his followers: “Come by Paris Collection for the opening night installation of the new @therealkidult. We proudly support the arts.” Later that same day, Marc Jacobs tweeted images of new T-shirts screen printed with the above image, to be sold at the store for $686 “unsigned” and $430 “signed.”

Read more: http://fashion.telegraph.co.uk/columns/bibby-sowray/TMG10143151/Marc-Jacobs-turns-graffiti-vandalism-into-a-tidy-profit.html

Hired: Coach appoints Stuart Vevers as creative director

Stuart Vevers has been announced to be taking over the reins from Reed Krakoff, who leaves the company after 18 years at its creative helm to focus on his namesake brand. The newly to be appointed creative director revealed his plans to revive the 72-year-old brand which includes highlighting Coach’s heritage, introducing more offerings of apparel, footwear, and watches, and elevating the label to luxury standards.

Stuart Vevers

Stuart Vevers

Vevers will adopt a similar approach to Coach as that while creative director at Loewe – fusing the label’s history with a contemporary aesthetic. “My passion is for brands with heritage. Throughout my career, every brand I’ve been drawn to has a strong heritage,” Vevers said. “I think Coach is that kind of brand. My style is to take that heritage and to play it against modern references, youth culture, references that take things to a different place and make them relevant now. That’s what I’ve always been known for in my work.”

Read more:  http://online.wsj.com/article/PR-CO-20130624-908680.html

CEO of Ted Baker sells 1.2 million shares at peak price

Ray Kelvin, founder and CEO of British beloved fashion brand Ted Baker, sold 1.2 million shares (ie. 2.8 percent stake) after the company’s shares touched an all time high this week. Reportedly selling the shares for “personal reasons”, at £17 a share Kelvin made approximately £20m by off loading these shares. This reduces his stake in the business from 38.9 percent to 36 percent.

Ted BAker Store at Regent Street, London

Ted Baker Store at Regent Street, London

Read more: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10144020/Ted-Baker-founder-sells-20m-of-shares.html

Sabyasachi to do Grand Finale

After all the critical attention garnered for dressing Vidya Balan at Cannes, this is good news for Sabyasachi fans. India’s favourite designer will showcase his collection at the show after a hiatus of five years. And there is no other way to do it except as the Grand Finale designer at Lakmé Fashion Week Winter/Festive 2013.

Sabyasachi Mukherjee

Sabyasachi Mukherjee

Sabya, as people fondly call him is a LFW discovery. He debuted his first collection all the way back in 2002 at LFW and in the same year was reckoned as the future of Indian fashion by Women’s Wear Daily. He has indeed proved to be just that. Renowned both in India and abroad, Sabya’s work has earned both accolades and critical acclaim.

Read more: http://www.vogue.in/content/sabyasachi-returns-ramp-lfw-finale

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