miami

Allapattah, near the Miami River, saw flashy events during the fair and is the home of two vast, new arts institutions. Both were built by real estate investors.

Perry Ellis said the decision was made after a major licensor refused to consent to Randa's acquisition of the company.

A special committee formed by Perry Ellis to evaluate the proposals said it would look into the offer, open talks with Randa and grant it due diligence access.

For the year, the company reported net income of $14.5 million, or 95 cents per share, swinging to a profit in the period.

Fast fashion retailers are exploiting increased public interest in contemporary art with a slew of artist collaborations. Is it working?