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.
NEW YORK, United States — J. Crew Group Inc. and the agent to its $1.57 billion term loan face a new lawsuit from funds affiliated with Eaton Vance Corp. and Highland Capital Management over the transfer of the retailer's trademark assets.
The lawsuit, filed in New York State Supreme Court on Thursday, seeks to find that a majority of lenders under the term loan violated the terms by directing the loan’s agent, Wilmington Savings Fund Society FSB, to take certain actions.
Eaton Vance funds hold around $100 million of the term loans, and Highland funds about $61 million, according to the filing.
By Tiffany Kary and Chris Dolmetsch; editors: Nikolaj Gammeltoft, Kenneth Pringle and Rick Green.
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.