Lord & Taylor to Buy Fortunoff

BREAKING NEWS
The owner of the 182-year-old Lord & Taylor department store chain is close to buying Fortunoff, the jewelry and housewares retailer that is struggling with slumping sales and heavy debt, according to people briefed on the matter.
The $100 million deal would marry two of New York’s prominent retailers in what amounts to a rescue operation. Lord & Taylor wants to put Fortunoff merchandise in all 47 of its stores — and even open a large Fortunoff boutique within Lord & Taylor’s flagship Fifth Avenue location, the people said.
The proposed acquisition of Fortunoff, by the private equity firm NRDC Equity Partners, Lord & Taylor’s parent, is not yet final. The negotiations could still unravel, the people cautioned, and Fortunoff has drawn interest from several bidders who could outmaneuver NRDC.
A deal could not come fast enough for Fortunoff. The 86-year-old chain is teetering on the edge of bankruptcy — and NRDC may buy it either before it files for bankruptcy or as part of a bankruptcy proceeding, said executives involved in the talks, who asked not to be identified because they were not authorized to speak publicly.
The deal highlights the unexpected revival of Lord & Taylor, which started in Manhattan in 1826. Two years ago, it appeared to need a rescue of its own as it spiraled into financial trouble and irrelevance.
But Lord & Taylor has staged a striking comeback, persuading more than 100 upscale brands, including Diesel, Tracy Reese and Ted Baker, to sell their wares at the chain.
Richard A. Baker, the chief executive of NRDC Equity Partners and the architect of the Lord & Taylor revival, is hoping to do the same for the flagging Fortunoff. Founded in 1922 by Max and Clara Fortunoff, who set up a row of eight small stores in Brooklyn that sold everything from kitchen utensils to diamond rings, Fortunoff became a retailing empire in the New York City area.

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Lord & Taylor's Next Top Model Search

Lord & Taylor will be running a model search in February. Although Lord & Taylor did a great job with their new branding initiatives, the fall ad campaign did not get stellar marks for diversity. I think this new model search will pay off if some diverse models can be picked to represent them in Spring '09. If you have what it takes SIGN UP!

MODEL SEARCH DETAILS:

Two lucky contestants will win the Grand Prize, joining top professional models as a part of the Spring ’09 advertising campaign, as well as a $1000 Lord & Taylor shopping spree!
Registration for Next Year’s Model will take place at each of the Lord & Taylor store locations listed below on the date of the casting call only. Twenty contestants, 18 and older, will be selected per store and their images posted online within 24-48 hours. Then the public will view the contestants and vote for their favorites.
The top ten contestants per store will advance to a second round of voting which will narrow the field to 12 finalists, two per store. These finalists will each be awarded a First Prize of a $500 Lord & Taylor shopping spree and a trip to New York City, all expenses paid, where they will participate in a fashion show at Lord & Taylor’s Fifth Avenue store, where industry experts will select the two Grand Prize winners.

Casting Call Calendar
Fifth Avenue - Monday, Feb. 11th, 10AM - 2PM
Garden State Plaza - Tuesday, Feb. 12th, 10AM - 2PM
Prudential Center - Wednesday, Feb. 13th, 10AM - 2PM
Washington- Thursday, Feb. 14th, 10AM - 2PM
Eastchester - Friday, Feb. 15th, 10AM - 2PM
Garden City- Saturday, Feb. 16th, 10AM - 2PM

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New Play Getting Buzz on Broadway

The new play "Passing Strange" has been getting its fill of buzz.
A portrait of the artist as a confused young black man emerges in vivid colors in the fresh, exuberant and bitingly funny new musical “Passing Strange,” which opened last night at the Public Theater. The biography of a songwriter on a wayward journey of self-discovery, this bracingly inventive show introduces an exciting new voice to contemporary musical theater, a witty wordsmith, composer and performer who goes by the single name Stew.

SEE New York Times REVIEW

Two Harlem Record Stores to Close

Two Harlem, N.Y., record stores, friendly competitors steeped in neighborhood and music history, could be forced out of business within weeks of each other. Bobby Robinson, 91, will shutter Bobby's Happy House today, on Martin Luther King Jr. Day, and Sikhulu Shange, owner of Harlem Record Shack, is under court order to leave after 36 years in business.

Is this a sign of things to come in Harlem or is is a sign of things to come in the retail industry. There are many signs that point to that dreaded "R" word, recession. For the first time in a long while even luxury retailers are feeling the pinch. Analyst predict that there may be some pull-back in consumer spending and it will be felt in growth strategies at retailers.

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The "I Have a Dream Speech"

Join BRAG in celebrating Dr. Martin Luther King and his many accomplishments

Celebrate The Dream

The Churn

Susan Akkad has been named senior vice president of corporate marketing, diversity, a newly created position, at Estée Lauder. She was previously senior vice president of global communications and artist relations at M.A.C Cosmetics.

Lisa Lupinski, formerly director of global communications at Estée Lauder Companies Inc., has joined Karla Otto Inc.

Manuel Puig has been named president of Nina Ricci and will launch the brand's accessories division. He will remain vice president of Puig.

George Sharp has been named executive vice president of design at St. John, a newly created position. He was previously vice president of design at Ellen Tracy.

Margareta van den Bosch has stepped down as head of design at H&M. She will continue at the company as a creative adviser. Her replacement is Ann-Sofie Johansson.

Isaac Mizrahi has been named creative director of Liz Claiborne. He will no longer be designing his collection for mass retailer Target.

The Churn

Robert Vignola, formerly president and chief executive officer of Judith Leiber LLC, has been named president of Calvin Klein Collection, a newly-created position.

Mitchell Fox, group president and publishing director of Condé Nast, is leaving the company. David Carey, group president and publishing director at Condé Nast, will now oversee Wired Media and the Golf Digest Group in addition to the Business Media Group, which includes Condé Nast Portfolio and portfolio.com.

Thomas A. Florio, currently vice president and publishing director of Vogue, Men's Vogue, and Vogue Living, has been named senior vice president and publishing director and will now oversee the Teen Vogue publishing business as well.

William Wackermann, currently vice president and publisher of Glamour, will now add oversight of the Condé Nast Bridal Media Group to his responsibilities. He has been promoted to senior vice president and publishing director.

Sandy Golinkin, vice president and publisher of Lucky, is leaving the magazine.

Gina Sanders, formerly VP and publisher of Teen Vogue, has been named vice president and publisher of Lucky.

Bonnie Morrison, publicity director at KCD, has been named special projects editor, including editorial events, at Men's Vogue.

Simona Zerchi has been named U.S. president of Celine. She was previously vice president of Miu Miu footwear, handbags, and accessories at Prada USA Corp. Lorenza Cavalli, formerly retail director at Trussardi, has been named worldwide retail director at Jil Sander.

Paula Bennett has been named president of the J. Jill brand. She was previously with Orchard Brands as president and CEO of Appleseed's, Tog Shop, and the WinterSilks brands.

BLOOMINGDALE’S BUSINESS OPPORTUNITY ALERT

BLOOMINGDALE’S BUSINESS OPPORTUNITY ALERT

BLOOMINGDALE’S WILL HOST MINORITY-OWNED AND WOMEN-OWNED SUPPLIER DIVERSITY VENDOR FAIRS ON THE FOLLOWING DATES:

THE FAIR FOR RETAIL PRODUCTS WILL TAKE PLACE ON:
FEBRUARY 27 & 28, 2008
WHERE - 919 THIRD AVENUE, 5th FLOOR CONFERENCES ROOMS
TIME - 10:00 A. M.----4:00 P.M.

THE FAIR FOR NON-RETAIL PRODUCTS AND SERVICES WILL TAKE PLACE ON:
MARCH 13, 2008
WHERE - 919 THIRD AVENUE, 5th FLOOR CONFERENCE ROOMS
TIME: 9:00 A. M.-----2:00 P. M.

Bloomingdales is seeking minority-owned and women-owned vendors to consider for exhibiting at their Supplier Diversity Vendor Fairs.
Retail products can be ready-to-wear, men’s, children, accessories, and home.

Non-retail categories can include construction, store design, visual display props, packaging, janitorial, etc.

Products must meet manufacturing, safety, and quality control standards to be considered.

All vendors must have manufacturing/supply capability to meet department store needs.

Vendors must be certified by one of the following certifying agencies:

National Minority Supplier Development Council ( NMSDC ): http://www.nmsdc.org/

Women’s Business Enterprise National Council ( WBENC ): http://www.wbenc.org/

Both organizations require the vendor to be 51% or more owned by a minority or women.

Both organizations request financial disclosures on the company as well as personal information from the owners.

If you have retail products, and you are interested in being an exhibitor, please contact the following people:
Donna.Wolff@bloomingdales.com
Bari.Goldstein@bloomingdales.com

If you have non-retail produces and/or services, and you are interested in being an exhibitor; please contact the following people:
Tina.Motley@bloomingdales.com
Susan.Karp@bloomingdales.com

Bloomingdales will need wholesale price lists, spec sheets and/or catalogs of your products/services to help us determine if your product or service is a possible fit for our fair.

For the retail products the Fashion Coordinators, Fashion Stylist, and Merchant Teams will make the determination if your product meets the standards for exhibiting at the fair.

For the non-retail products, the purchasing agents will determine if your product/service meet the standards for our fair..

JC Penney's Hispanic Account in Play

NEW YORK - JC Penney said its Hispanic marketing business is in play, following a decision not to renew its contract with Omnicom's Dieste Harmel & Partners.

see full story here