new york Archive

Empty Space Haunts Fifth Avenue as Retailers Balk at Rent Hikes

NEW YORK, United States — Landlords on Manhattan’s Fifth Avenue are sitting on a record amount of open space as retailers balk at committing to expensive new leases in one of the world’s most prestigious shopping districts. The availability rate on the famed strip, home to Saks Fifth Avenue and Tiffany & Co.’s flagship store, jumped to 15.9 percent in the third quarter, up from …

Building Great Bowery, Fashion's Super-Agency

NEW YORK, United States — 190 Bowery is one of the most mythic buildings in all of Gotham. Erected in 1898 as the Germania Bank, it was abandoned and decrepit by the time the photographer Jay Maisel raised $102,000 — less than half of what it cost to build — to purchase the building in 1966. Maisel and his family lived and worked in its …

BoF Exclusive | Estée Lauder Buys Becca Cosmetics

NEW YORK, United States – The Estée Lauder Companies, Inc., the American beauty conglomerate that owns brands like Clinique, Bobbi Brown and MAC, has signed an agreement to acquire Becca Cosmetics from beauty incubator Luxury Brand Partners. The terms of the deal were not disclosed, although industry sources suggest the conglomerate paid around $200 million for the business, which was founded in 2001 and is set …

Raf Simons Moves Show to New York Fashion Week: Men's

NEW YORK, United States — Raf Simons is to show his Autumn/Winter 2017 Men’s Collection at New York Fashion Week: Men’s. The show, which will take place on February 1 next year, will be the first time the designer is presenting his namesake collection in New York, having shown at Paris Men’s Fashion Week since 1997 and at Florence’s Pitti Uomo in June. Simons’ move represents …

BoF Exclusive | Victoria Beckham Partners With Target

NEW YORK, United States — Victoria Beckham celebrated two five-year milestones in 2016. This year marked five years since the birth of her daughter Harper and five years since the birth of her playful second line, Victoria, Victoria Beckham. So it seems natural that the two would serve as points of inspiration for her latest project, a limited-edition collection for Target set to launch April …

Creative and Management Shake-up at Condé Nast Gathers Pace

NEW YORK, United States — And so it begins. Today, Condé Nast chief executive Bob Sauerberg sent a memo to employees vaguely outlining the next steps in what may be the greatest restructuring ever to take place at the company, set to fundamentally shift how the storied publishing house runs its business. Moving forward, Condé Nast will be restructured around five groups — roughly categorised as business, …

GHD Acquired for $511 Million by Coty

NEW YORK, United States — Coty Inc. agreed to buy the London-based hairstyling-appliances company GHD for £420 million ($511 million) in cash, expanding its offerings in the professional hair category. The British company, whose name is short for “Good Hair Day,” will be acquired from investment firm Lion Capital LLP. The business has increased global sales 30 percent over the past three years, bringing in …

Macy's Flagship in New York Debuts Apple Shop

NEW YORK, United States — Customers at Macy’s flagship store in New York will be able to wander over from eyeliner to iPads. Macy’s launched an Apple shop Friday at its Herald Square store, the first US department store with a hub devoted to the brand. The shop features a range of products including iPhones, iPads, MacBooks, and the new Nike-branded Apple watch. Staffed by …

US Retail Sales Rose in September by the Most in Three Months

NEW YORK, United States — Retail sales climbed in September by the most in three months, showing American shoppers began to spend freely again after shying away from merchants earlier in the quarter. The 0.6 percent advance followed a revised 0.2 percent decline in August, Commerce Department figures showed Friday. So-called core sales, used to calculate gross domestic product, rose a smaller-than-projected 0.1 percent. Years of …

Sears Promotes Former Delphi Automotive Executive to CFO Role

NEW YORK, United States — Sears Holdings Corp., the beleaguered department-store chain, has promoted Jason Hollar to the role of chief financial officer, turning to a former automotive executive to help with its turnaround bid. Hollar, who joined Sears two years ago as a senior vice president of finance, will take the CFO job immediately, the company said on Friday. The 43-year-old previously worked at Delphi …