The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Richard Hajjar, the former chief financial officer of the over 136-year-old heritage brand, which is stocked at J.Crew, has agreed to plead guilty to wire fraud, unlawful monetary transactions and filing a false tax return.
According to court documents, Hajjar wrote checks to himself and transferred funds from company accounts to his personal accounts, and to the account of another individual — who the lawsuit names as local Massachusetts television star and fashion influencer Bianca de la Garza. Hajjar used the money for personal and gifted indulgences such as luxury travel, private flights and diamond jewellery. He owes approximately $5,112,822 in taxes after failing to report his embezzlement proceeds as income on his tax returns.
Joan Kennedy is Editorial Associate at The Business of Fashion. She is based in New York and covers beauty and marketing.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.