NEWS
Inside the Industry
Supporting the Time to Vote movement, the J.Crew Group announced that it would provide a full day off to employees to vote on Election Day this Nov. 3. The nonpartisan Time to Vote effort relies on chief executives to make a commitment to increase voter participation by affording the convenience of having a full day for employees to engage in the voting process. Employees from J.Crew and Madewell stores, corporate offices, the distribution center and customer-service locations will be off on Election Day. The J.Crew Group is taking the initiative further by providing educational tools as well. It will offer resources that instruct employees on how to register to vote, find polling sites and research candidates across all parties. “Civic engagement is more important than ever, and we are committed to ensuring that our employees have the ability to participate in the upcoming election,” said J.Crew Group Chief Executive Officer Jan Singer.
R.Riveter, the Lisa Bradley– and Cameron Cruse–founded brand that offers flexible employment to military spouses, has launched a one-of-a-kind heirloom handbag collection that offers customization opportunities for customers who would like to transform sentimental military items. As a Southern Pines, N.C., brand that creates its products in the United States through the handiwork of military spouses, R.Riveter recognizes the sensitive nature of giving new life to family heirlooms that include items such as military uniforms, jackets, blankets and duffle bags. These goods are transformed into unique pieces that offer a choice of accents in black or brown leather. Upon receipt of the materials from a customer, the lead time to complete a bag is approximately six to 10 weeks. Pieces cost $65–$500.
Authentic Brands Group and Simon Property Groupcompleted a deal to acquireLucky Brand Jeans. The Los Angeles denim brand and retailer will be acquired following its chapter 11 bankruptcy filing according to an Aug. 14 ABG announcement. Media reports revealed that Lucky Brand was bought for about $140 million. Lucky Brand’s business will be handled by the SPARC Group, LLC, which has served as an operator that licenses brands such as Aéropostale and Nautica from ABG. SPARC will serve as the core licensee and operating partner for Lucky Brand, said Jamie Salter, ABG’s founder, chairman and chief executive officer. ABG will own Lucky Brand’s intellectual property in addition to handling licensing partnerships and brand development. SPARC and ABG will work together to handle Lucky’s social media, emerging platforms and digital activations, Salter said.
Clothing.com is for sale now until Oct. 15. The domain includes a portfolio with other domains including Clothing.org, Clothing.tv and ClothingTV.com, with expectations for the sale at approximately $15 million. With online retail increasing around the world, the sale of this domain and sibling names is generating a great deal of interest in the apparel category. Those interested in purchasing the domain should submit a nonbinding offer by Sept. 22. If no party acquires the domain by Oct. 15, an auction will be held on that date where all interested buyers may participate. Stakeholders of Clothing.com are represented by TrueNorth IP, Inc., as their transaction adviser, with Gordon Hayes working on the transaction.
