Global Vibes
Barney's buy out?
JAPAN: The management group behind Tokyo's Uniqlo casual clothing chain has put in an offer to purchase luxury department store Barneys New York from Jones Apparel Group for $US900 million ($A1.05 billion) in cash. The offer topped an earlier bid of $US825 million ($A968 million)) bid from Dubai-based investment group Istithmar that Jones Apparel had agreed to in June. It is understood the later's deal with Istithmar allowed it to consider competing bids received before July 22. The company must pay a break-up fee of $US22.7 million ($A26.6 million) if the deal is called off. The sale of the department store will allow Jones to invest in other brands and boost its shareholder value.
Seven sold
UNITED STATES: Los Angeles-based luxury denim brand Seven For All Mankind has been sold for $US775 million ($A908 million). The apparel company was bought by VF Corporate, the owner of activewear brands including North Face and Nautica. Seven is best known as being one of the first brands to launch premium denim into the marketplace, having beaten True Religion, Rock & Republic and Von Dutch Originals to discover the niche segment. Other brands in the VF stable include Vans, Reef, Lee, Wrangler, Kipling and Napapijri. The move follows news VF has also acquired Lucy, a women's activewear company, for $US110 million ($A129 million).
Top copy
UNITED KINGDOM: High street retail chain Topshop has been forced to withdraw from sale a dress amid allegations it was a copy of one designed by high-end European label Chloe. While the dress was not an exact copy, both designs were yellow with dungaree tie detailing and two giant pockets on the front with Topshop's version retailing for £35 ($A83) and Chloe's selling for £185 ($A440). While Topshop didn't admit its dress was a copy of the Chloe design, it pulled all of its stock - almost 2,000 dresses - from its rails and paid Chloe £12,000 ($A28,000) in damages for compensation and legal costs. It is understood Chloe is currently making claims against a series of other well-known stores.
Compliance cuts
INDIA: After setting their sights on China and South-East Asian markets influential global non-government organisations and trade unions have now been accused of attacking India's apparel export industry. Though exporters claim the international campaign is just in response to jobs being shipped out of Europe, some apparel brands have taken the treat seriously. Global labels Tommy Hilfiger, Levi's, Ann Taylor and Mexx have cut sourcing ties with Bangalore-based Fibres & Fabrics International (FFI) after international watchdog Clean Clothes Campaign (CCC) accused the company of labour rights violations in recent months. Others, including Esprit, have reportedly put their Indian vendors on alert.
Global attraction
CHINA: A group of British designers will form a special textile design zone at trade event Intertextile Shanghai Apparel Fabrics later this year. The October 29 to November 1 show - which features seven exhibition halls, 80,000 sqm of exhibition space and more than 1,800 exhibitors from the globe - has attracted a group of eight textile designers from the UK to present their designs and inspiration. For more: intertextile.com
Madden moves
UNITED KINGDOM: American footwear brand Steve Madden is to sell its sole in the United Kingdom after joining forces with a London-based distributor. The $US500 million ($A600.5 million) business has teamed with OPS to launch into UK stores for the northern hemisphere spring 2008 season. OPS, which is based in London and owns the Last Footwear brand, has signed a four year deal to distribute the brand across England, Ireland, Scotland and Wales. OPS will distribute five Steve Madden brands - including Madden Girl, Natural Comfort and Fix - all which it will debut at the Micam trade show this September. Wholesale prices will range from five to 35 pounds ($A12 to $A83).
Jones divests
UNITED STATES: The former owner of Barney's New York, Jones Apparel Group, is set to sell off more of its assets in the form of "moderate" brands. The apparel and accessory company has told media that the projected revenue for the unnamed lines is about $US300 million. The company, whose brands include Ann Klein, Easy Spirit, Nine West and Evan Picone, hasn't disclosed which brands it wants to unload but has confirmed it will not include its denim and junior division labels including GLO, Jeanstar and Energie. The company said exiting or selling the product lines would strengthen future operating results and allow it to focus on growth opportunities in its remaining wholesale product lines.