FASHIONBOSS ENCORE: SUNDAY FASHION RECAP
BUSINESS OF FASHION: Taking Stock at Big Brands
Tiffany & Co.’s Tale of Takeover | America’s foremost jeweler is attracting a less welcome type of customer. Tiffany & Co.‘s shares dropped 17 percent this week to a two-year low. That leaves its share price at $86, a level which many analysts say make the $11 billion luxury-jewelry company an attractive buy — for both investors and a takeover. Tiffany’s sluggish holiday season in the U.S. failed to meet executives’ sales targets, expected to offset declining profit in the Japanese market. The company is known for its iconic prestige engagement rings, novelty jewelry and luxury trinkets–gifts that beef up quarterly profits. With the drop in share price, Tiffany is once again a target for luxury conglomerate LVMH, which has long considered the jeweler a desirable potential addition to its roster of high-profile brands. But The Business of Fashion reports that management is not enthusiastic to sell.
Wet Seal’s Soaking Wet Bankruptcy | 1990’s favorite mall retailer Wet Seal is fighting for its life by filing for bankruptcy protection. Following fellow teen apparel retailers, Deb Stores and Delia’s Inc., Wet Seal applied for Chapter 11 filings shortly after. On December 2014, the California-based company announced that if does not resolve its cash issues, then an inevitable bankruptcy would be filed to keep the teen stores alive. Earlier in April 2014, Wet Seal shut down its teenage daughter company, Arden B, wanting to focus more on its main branch. According to the bankruptcy filings, Wet Seal is estimated to be between $10 million to $50 million while liabilities are estimated between $100 million to $500 million. The company will be placed under B. Riley Financial Inc.’s care as they are undergoing a reorganization plan that will allow the firm to acquire 80% of Wet Seal Inc.’s stock in exchange for a $20 million loan.
FEATURE: The Painful Side of Beauty Is Anything but Human
Animal Testing Is the Least Pretty Part of the Beauty Industry | The use of fur in the fashion industry is internationally debated with museum exhibits and cruelty-free designers dedicated to publicizing the exploitation of animals. But animals have long been vulnerable to commercial exploitation off the runways in the multi-billion dollar beauty industry. Animal testing is still tightly wound up in the production of some of the most recognizable beauty brands retailed today. For example: when developing an eye product, such as mascara, beauty labs will apply ingredients directly to the eyes of up to three rabbits to see “signs of redness, bleeding, ulcers, blindness, and/or other signs of damage.” Rats that undergo tests for acute inhalation toxicity are placed into a tube in which they are forced to inhale the test substance. Nose bleeds, seizures, convulsions and even death are then observed to ascertain whether an ingredient would be safe for a cream or lotion. Up to 32 guinea pigs or 16 mice are used to test for skin irritation, resulting in possible ulcers, scaling and inflammation. Regardless of the results, lab animals are routinely killed at the end of a product test. But shopping for cruelty-free makeup and skincare is now easier than ever. Cruelty-Cutter is an app developed by theBeagle Freedom Project, named in honor of the roughly 62,000 beagles that die every year in animal experimentation labs. With it, shoppers can scan products at the shelf to see if it has ingredients tested on animals.