IN THE KNOW – WEEKLY NEWS DIGEST VOL. 4

Hello again! Paris Fashion Week 2013 is on and I have been keeping busy with the live streams of the shows. Elie Saab makes me want to create occasions just so that I can have the opportunity to see beautiful women wear the gorgeous pieces or better still be able to wear a piece of the delicious piece of art myself.

Well, someday! But I digress. Getting back on topic, Anna Wintour tweeted for the first time, Apple hires YSL CEO for special projects, Tiffany sees theft of $1.3mn and LVMH gets fined. Read on.

Apple Hired the CEO of Yves Saint Laurent to Work On Special Projects

Apple has hired the CEO of fashion house Yves Saint Laurent Paul Deneve to work on ‘special projects’ and will be reporting directly to chief executive Tim Cook.  Earlier reports had actually speculated that Deneve would be in charge of Apple Retail (which is in need of a boss) but instead will work on future wearable technology that Apple has in store.

Paul Deneve

Paul Deneve

Interestingly, Deneve actually worked for Apple from 1990 to 1997 as a Sales and Marketing Manager, comes a full circle back to the company after having spent some time at Courrèges, Nina Ricci and Lanvin before his tenure at Yves Saint Laurent.

Read more at Business of Fashion

Former Tiffany Official Charged With $1.3 Million Jewelry Theft

We can’t say that the gorgeous, expensive trinkets haven’t brought evil ideas to our head, but a former vice president of product development at Tiffany & Co. was actually arrested and charged with stealing more than $1.3 million worth of jewellery. Prosecutors claim that from January 2011 to February 2013, Ingrid Lederhaas-Okun, 46, checked out 165 pieces of jewellery, including diamond bracelets, platinum and gold earrings and platinum and diamond pendants, then sold them to an unnamed jewellery reseller in Manhattan.

Tiffany&Co.

Tiffany&Co.

She very ingeniously would only check out pieces worth under $10,000 so no one caught on. The default was discovered when Ms. Lederhaas-Okun was being downsized. If convicted, she faces up to 20 years in prison on the fraud charge.

Read more at NBC News

Jimmy Choo Autumn Winter 2013 campaign stars Nicole Kidman

Red-headed Nicole Kidman makes heads turn as she debuts in Jimmy Choo’s Autumn Winter 2013 campaign. The new face of Jimmy Choo is transformed into a mysterious and seductive woman sporting a short hairstyle. Shot by photographer Mikael Jansson, the latest campaign portrays the 46-year-old, award-winning actress as a seductive protagonist in a series of images that hint at the brand’s recurring themes of empowered glamour.

The brand’s creative director, Sandra Choi, stated, “Nicole has perfectly captured the mood of our Autumn/Winter 2013-14 collection; her character portrays the multifaceted qualities of the Jimmy Choo woman for this season — strong, sexy with a beguiling sense of mystery.”

Read more at People.com

LVMH fined €8 million over Hermes stake-building

LVMH has been ordered to pay a fine of €8 million, by France’s stock market regulator, AMF, over the notorious acquisition of its stake in Hermès. The AMF’s enforcement committee condemned the “unusual” way LVMH had amassed its 22.3% shares, buying equity swaps with a number of banks so as to avoid disclosure requirements and using foreign subsidiaries that were not listed as consolidated units. (Refer here)

Bernard Arnault

Bernard Arnault

The luxury conglomerate, helmed by Bernard Arnault, has already made clear that it plans to appeal the decision.

Read more at Wall Street Journal

And if all this news wasn’t exciting enough for you already, you must hear what a little (blue) birdie had to say.

Anna Wintour tweeted for the first time ever

A longtime advocate of marriage equality, the Vogue Editor in Chief couldn’t help but express her joy about the Supreme Court’s toppling of the Defense of Marriage Act (DOMA) in her first-ever tweet.

Anna Wintour

Anna Wintour

Posting on Vogue’s official Twitter account, the editor in chief included her initials at the end of poignant message to indicate that the tweet came from her. ‘Today’s rulings are a big step forward for all Americans striving to achieve equality. I couldn’t be happier or more proud. —A.W.’

I can’t help but wonder if Anna Wintour’s new fellow Condé Editor in Chief (for Lucky) Eva Chen, a tweeting master’s connect with her audience has urged her to hop onto the social media bandwagon.

Read more at The Cut

Advertisements

In the know – weekly news digest

Thanks for all the hits on the ‘in the know’ post last week.

While last week was all about new collaborations, this week’s global fashion scenario seems to be dominated with legal hassles. Some of the biggest names in the industry seem to be facing trouble. Read on to know more:

Hermès suits LVMH yet again

Hermès presented last July a criminal complaint against LVMH for insider trading and manipulation of its share price.

But now the Birkin bag creator has filed another lawsuit against the luxury conglomerate with the aim of annulling the equity swaps that enabled LVMH to attain its initial 17.1 per cent stake. The holding has since been upped to 22.3 per cent.

- Hermes

Hermes

France’s stock market watchdog, the Autorité des Marchés Financiers (AMF), recommended that LVMH be fined €10 million (£8.5 million), accusing the group of hiding its gradual stake acquisitions. The verdict for this will be revealed by July 31.

LVMH is currently suing a civil manager at Hermès – believed to be Patrick Thomas, CEO of Hermès International – after he implied that Arnault’s firm had acted “fraudulently” in its pursuit of the gains state certain reports.

Read more: http://www.huffingtonpost.com/2012/09/04/hermes-sues-lvmh-lawsuit-stock-court-case_n_1853936.html

Balenciaga to sue Nicolas Ghesquière

Kering, formerly PPR, the luxury conglomerate which owns luxury label Balenciaga is reportedly suing its former creative director for ‘breach of confidentiality’ following a controversial interview that was published after his exit from the fashion house, in which he criticised the brand’s management.

- Nicolas Ghesquiere

Nicolas Ghesquiere

Published in System Magazine, Ghesquière revealed that he decided to leave the fashion house because he “ended up feeling too alone”, and as though he was being “sucked dry”. He also accused the label of “lacking in direction” and claimed that he had a lack of support from the business side of the relationship.

Ghesquière and Balenciaga announced the end of their 15-year relationship in November last year, and the designer was eventually succeeded by Alexander Wang as creative director.

Read more: http://fashion.telegraph.co.uk/news-features/TMG10128295/Balenciaga-to-sue-ex-creative-director-Nicolas-Ghesquiere.html

Dolce & Gabanna

This has been splashed all over making almost breaking news.  But still in case you missed it, Italian fashion designers Domenico Dolce and Stefano Gabbana have both been found guilty of tax evasion by an Italian court and sentenced to jail. The duo were both sentenced to one year and eight months in prison, after being found guilty of failing to declare hundreds of millions of euros to the Italian tax authorities.

- Domenico Dolce & Stefano Gabbana

Domenico Dolce & Stefano Gabbana

Read more: http://www.huffingtonpost.com/2013/06/19/dolce-and-gabbana-guilty_n_3466274.html

 

Play with Karl

Well, it’s not all grim in the fashion world.

In the Karl video game the Chanel creative director appears as an energetic Tokidoki cartoon. The objective is to try and remove his signature sunglasses – not an easy task thanks to the designer’s stealthy, ninja-like moves.

- Karl Lagerfeld Tokidoki

Karl Lagerfeld Tokidoki

Cartoon Karl also offers disapproving remarks after unsuccessful attempts, like, “You really need glasses”, and “What a shame”. If you’re too slow, he taps his foot and takes pictures with his camera, but his most cutting comments are left for when you fail at the game completely – to which he says, “Karl has no more time for you.”

The online game is part of a month-long partnership with Lagerfeld’s French eyewear distributor Optic 2000. The lucky French residents are able to claim prizes if they manage to triumph over Lagerfeld, which I can tell you first hand is by no means is an easy task.

Play here: jeveuxleslunettesdekarl.com.

Going green with love

It has been almost three weeks since the Bangladesh tragedy, where more than 1000 workers in a garment factory were killed. This is the not first horrific incident of this kind to have happened in a garment manufacturing unit in the country, but it is the deadliest disaster to hit the garment industry in Bangladesh that is worth $20 billion annually and supplies global retailers.

The cost of cheap fashion is getting unbearably high and this probably might work as the final trigger for the fashion industry to take the measures necessary to avoid any such tragedies in the future. In fact, as this story reports, H&M, C&A, Primark and Inditex, owner of the Zara chain, said they would sign a five-year contract that requires companies to conduct safety inspections, make factory conditions public and cover the costs for repairs. It also calls for them to stop doing business with any factory that refuses to make safety upgrades.

As the debate about ethics in the industry gains further momentum, it would also be the right time to discuss international brands that have adopted ethical and sustainable practices as a core philosophy for their brands. These are brands and designers that are trying to make a positive difference through fashion, and without any compromise on quality or style. Here are our 5 picks:

1. Stella Mc Cartney: “I design clothes that are meant to last. I believe in creating pieces that aren’t going to get burned, that aren’t going to landfills, that aren’t going to damage the environment,” says Stella Mc Cartney. One of the first designers to adopt the ethical and eco-friendly approach to manufacturing fashion, she made sustainable fashion a serious business. And she made it chic. Mc Cartney’s animal-friendly (no leather, no fur) designs and healthy-living attitude extends into her offices and studios in the UK that are powered by wind energy and abroad, they use renewable energy to power their stores and offices and a large part of their operations are run on 100% renewable, green energy. Read more at www.stellamccartney.com.

Fashion designer Stella Mc Cartney

Fashion designer Stella Mc Cartney

2. Edun:  Launched in 2005 by Ali Hewson and her husband, U2 singer Bono, this brand works to bring about positive change through its trading relationship with Africa. In 2009, LVMH bought a significant stake in EDUN and provides essential support, investment and infrastructure. As a 100 percent African “grow-to-sew initiative”, the brand’s sister line E Live has produced 700,000 African made T-shirts. In 2012, Diesel and Edun joined forces to further apparel trade and development in Africa and Diesel+EDUN was born. Learn more about their work at www.edun.com.

EDUN, Made in Africa

EDUN, Made in Africa

3. Toms: Toms ‘one for one’ concept is one of the most popular charitable initiatives take on by a fashion brand. When Toms sells a pair of shoes a pair of shoes is given to an impoverished child, and when Toms sells a pair of eye-wear, part of the profit is used to save or restore the eyesight for people in developing countries. Gives you a good reason to splurge on their signature espadrilles. Read more about their work at www.toms.com.

toms

4. People Tree: Designer collaborations with Thakoon and Bora Aksu are just some of the highlights, People Tree manages to achieve design excellence and embrace a green ethic with style. The company aims to use only organic and Fairtrade cotton, natural dyes, sources locally where possible and chooses recycled products. Their fairtrade initiatives span 20 developing countries. Learn more at www.peopletree.co.uk.

people tree

5. Marks and Spencer: The brand has been a pioneer in the sustainable approach when it comes to the high street. They introduced the ‘Shwopping’ initiative with Oxfam that allows shoppers to donate an unwanted item of clothing that will go on to be re-sold in Oxfam, re-used or recycled, cutting waste while raising funds for the charity. Their sustainable men’s suit uses components such as linings made from recycled PET bottle polyester from a hi-tech processing plant in Japan, recycled polyester zips, reclaimed pocket linings (surplus from their own production lines) and reclaimed stray buttons which would otherwise end up in landfill. Read more at marksandspencer.com/Shwop

A street transformed using 10,000 items of discarded clothing, during the launch of the Marks & Spencer initiative

A street transformed using 10,000 items of discarded clothing, during the launch of the Marks & Spencer initiative