Industry News – October 5th, 2016

Curated fashion industry news links for Wednesday, October 5th, 2016…

LVMH ACQUIRES SUITCASE MAKER RIMOWA, APPOINTS 24-YEAR OLD ALEXANDRE ARNAULT AS CO-CEO – TFL
“LVMH Moet Hennessy Louis Vuitton SE agreed to take over suitcase maker Rimowa for 640 million euros ($716 million) and will put Alexandre Arnault in charge of the group’s first German asset, a sign that Bernard Arnault is expanding his offspring’s role in the luxury empire.”

TOYS ‘R’ US SELLS FAO SCHWARZ – ChainStoreAge
“Expect more FAO Schwarz-branded toys, in-store “experiences” and even possible freestanding stores in the very near future. In an unexpected announcement, ThreeSixty Group said it has acquired FAO Schwarz from Toys “R” Us. The terms of the transaction were not disclosed. Toys “R” Us purchased FAO Schwarz in 2009.”

ZANE LAMPREY’S ADV3NTURE HOODIE IS THE #1 MOST FUNDED KICKSTARTER FASHION PROJECT EVER – PRNewswire
“Created by TV host and travel guru Zane Lamprey, the ADV3NTURE Hoodie is a re-invented version of his previously successful Kickstarter campaign for The Drinking Jacket, which made more than $574,000 and earned national media attention and praise for its comfort, design and functionality.”

SEARS CEO SAYS NO PLANS TO CLOSE KMART – WallStreetJournal
“In a blog post Monday, Mr. Lampert said the company is acting more aggressively to end years of losses by focusing on the company’s best stores and closing unprofitable locations. That means the company will have a “smaller overall store footprint” but “there are no plans and there have never been any plans to close the Kmart format,” he wrote.”

HIGH-END RETAIL THEFT RING BUSTED AFTER DOZENS OF ROBBERIES TARGETING WESTERN U.S. – TFL
“San Francisco prosecutors say they have charged 16 people in a retail theft ring that stole more than $200,000 worth of clothing, purses and other merchandise from high-end stores, such as Louis Vuitton and Salvatore Ferragamo.”

COACH’S FASHION-WORLD RISE STARTED WITH A PAPER BAG – TheCut
“In 1941, six Coach employees stitched wallets and billfolds by hand from a Manhattan loft that housed a family-run workshop. Twenty years later, Lillian Cahn took over the label with her husband Miles Cahn and decided to make purses. They released their first hit: a Coach tote, modeled after a paper shopping bag Lillian used to deliver noodles to her parents’ customers as a young girl during the Depression.”

WHY DSW IS EXPANDING OVERSEAS – FootwearNews
“After covering the U.S. with nearly 500 stores, DSW Inc. has in recent years turned its focus to opportunities in international markets, including Canada and the Middle East.”