Tuesday, July 30, 2013

Fashion Weekly News (22/07-28/07)

   About $136 million of jewellery stolen from Leviev exhibition from the Carlton Hotel in Cannes. An urgent operation is under way; yet, if the theft is confirmed, this raid will be the second largest in France.

   Ingrid Lederhaas-Okun, a former executive employee at Tifanny & Co was pleaded guilty last Friday for stealing $2.1 million worth of jewellery from the house. She has been selling the jewellery in order to enrich herself; she will be facing up to 46 months of prison and her sentencing will be determined next December.

   Despite LVMH having to pay a fine concerning the illegitimate acquisition of its stake in Hermes, it has recently again increased its number of shares from 22.6 per cent to 23.1 per cent as of June 30—this feud is certainly not ending anytime soon.

   Saks sells itself to Hudson’s Bay, owner of Lord & Taylor, for about $2.4 billion in cash. The America origin chain will be planning to open in Canada soon. 

   Abercrombie & Fitch is under investigation by France's human rights watchdog, following claims that the retailer hires employees based solely on their appearance. The Défenseur des Droits investigating body specialises in discrimination cases and reported that it has reason to believe that staff who were hired as "models" were also used as sales clerks.

   Actress Michelle Williams is the new face of Louis Vuitton for the fall/winter 2014 collection.

   Cameron Diaz is the new artistic director of Pour La Victoire brand. According to WWD, she says, “Being influential in a brand and in its [advertising] campaigns interests me. I love fashion. It’s a large part of my life. What I wear is looked at. It influences what other people wear because that’s just the world we live in.” In addition, she is also hoping to be able to guide the brand to a more functional and aspirational approach, “We want the brand to be accessible for that working girl,” she said. “I work hard for my money. I want it [the collection] to be sensible, whether you have a lot of money or you are scraping together pennies.”

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