Industry News – December 14th, 2016

Curated fashion industry news links for Wednesday, December 14th, 2016…

AMERICAN APPAREL GAINS COURT APPROVAL OF BANKRUPTCY LOAN – ChainStoreAge
“The beleaguered specialty retailer has court approval to use the remainder of its $30 million bankruptcy loan. American Apparel filed Chapter 11 in November, its second filing in 15 months.”

KYLIE JENNER AND THE YEAR OF THE DROP – TheNewYorkTimes
“The reason for the mall mania? The unveiling of the Kylie Pop-Up Shop, the first IRL (in real life) retail venture from Kylie Jenner, the pouting 19-year-old reality-TV star whose Snapchat-led marketing of her eponymous Kylie Cosmetics line has become a recent e-tail phenomenon.”

UNDER ARMOUR DOUBLES-DOWN ON CONNECTED FOOTWEAR; UNVEILS NEW LINE OF UA RECORD™ EQUIPPED RUNNING SHOES – PRNewswire
“Today, Under Armour (NYSE: UA, UAA) announces the brand’s newest UA Record Equipped running shoes – UA SpeedForm® Gemini 3 RE, UA SpeedForm® Velociti RE, and UA SpeedForm® Europa RE – designed to provide runners with the digital tools needed to understand recovery and ultimately maximize performance.”

REBECCA MINKOFF JOINS THE NEW YORK FASHION WEEK EXODUS – TheCut
“Rebecca Minkoff is the latest designer to ditch New York Fashion Week — at least for next season. Tom Ford, Tommy Hilfiger, and Rachel Zoe have all announced that they’ll be holding their runway shows in Los Angeles come February, and today Women’s Wear Daily says Minkoff is joining the fray. She will show at one of L.A.’s most recognizable destinations, the Grove, on February 4.”

FORMER ZEGNA EXECUTIVE ANDREA PESARESI NAMED CEO OF PHILIPPE MODEL – FootwearNews
“The appointment is part of the brand’s internationalization process launched in July, when Alessandro Benetton’s private-equity group 21 Investimenti acquired a majority stake in the sneaker label.”

LVMH TAKES $75 MILLION STAKE IN DKNY’S NEW PARENT COMPANY – TFL
“LVMH in this case – takes no active part in running the company. It is worth noting that according to the December 12 Securities and Exchange Commission filing, which reflects the December 1 acquisition, LVMH does have a shared voting power.”

NEIMAN MARCUS’ DEBT BURDEN ‘COMPLETELY UNSUSTAINABLE’ FOR FIRM OF ITS SCALE – ChainStoreAge
“The serious weakness on the topline did nothing to help the bottom line numbers where operating profit was compressed by almost 54%, and net losses more than doubled to $23.5 million from $10.5 million in the prior year. This is a highly unsatisfactory position for a company with $4.4 billion of long term debt, and almost $5 billion of debt when short term credit facilities are included.”