Latest news with #WWDBeautyCEOSummit
Yahoo
16-05-2025
- Entertainment
- Yahoo
Prabal Gurung, Saks Fifth Avenue Cohost Cocktail Party to Celebrate the Designer's New Book
Prabal Gurung's new memoir, 'Walk Like a Girl,' was celebrated Thursday night at a cocktail party hosted by Saks Fifth Avenue and Gurung at the Rooftop at Zero Bond. Among those who attended were Roopal Patel, Phillip Lim, Nicky Hilton Rothschild, Chloe Flower, Chloe King, Fernando Garcia, Isabel Wilkinson Schorr, Laura Kim, Lynn Yaeger, Fern Mallis, Mickey Boardman, Pritika Swarup, Radhika Jones, Sarita Choudhury and Tina Leung. More from WWD Saks Global Hires Advisers as It Works to Shore Up Liquidity Saks Connections: Luxury Reset and Industry Shake-up What's the Big Idea? The WWD Beauty CEO Summit Speakers Have Quite a Few Guests enjoyed 'It Started in Kathmandu,' 'Mumbai Rush' and 'Saks and the City' signature cocktails and nibbled on tuna crispy rice and sliders. Signed copies of 'Walk Like a Girl' were artfully displayed throughout the lounge vignettes, alongside custom coasters and napkins featuring powerful quotes from the book. The book tells the story of Gurung who grew up as a queer boy in Nepal and India and came to New York to pursue the American dream, only to encounter discrimination as he rose within the ranks of high fashion and high society. Gurung told WWD he's very good about talking about his work, whom he dresses and his inspiration, but, 'I've never talked about myself, so this is the first time.' To relive those things that he's been through 'was very cathartic,' he said. 'Just to look back to the fact that I've built a community of friends and people I love and admire, who have been there for me. It really was a reminder in gratitude and I'm so grateful,' said the designer, noting some parts were very difficult to write, such as those about his family and things he went through at school. 'The title came to me when I was in high school. I was an effeminate kid, and people would say 'You walk like a girl.' It was very pejoratively used,' he said. 'I didn't understand 'walking like a girl' was a problem because I was raised by a single mother, surrounded by women. I didn't understand the concept, like anything feminine was a bad thing. I used to wear my sister's dresses and all that. I get it, but in this hyper-masculine world that is so much about power and brute force, I felt this feminine-leaning ideas are softer ideas and something I grew up with.' Gurung said he didn't know it would become a book, and he wrote things down and sent it to his agent at CAA, who really liked it. And they sent it to Viking Penguin, and they loved it. So how does he feel now that it's out in the world? 'My friends didn't know what I'd been through. I'm not really open, I realized. I didn't want people to feel sorry for me. I wanted it to be a book, that if I can do it, so can anyone else,' Gurung said. He said this isn't a book about how to be a fashion designer. 'It's about how to be free.' So how did the idea of Saks and Gurung getting together to cohost a cocktail party come about? Gurung recalled that he first met Saks' Patel when she was at Bergdorf Goodman and he was at Bill Blass. He was having a cigarette outside 550 Seventh Avenue and was telling Patel about all the challenges he was facing, and she said, 'Why don't you start your own line?'' Patel, senior vice president, fashion director, Saks Fifth Avenue and Neiman Marcus, said: 'We've long been champions of Prabal's vision and his work at Saks. We were one of the first retailers to carry the collection, and Prabal and I have known each other since the beginning of our careers.' 'Tonight is not just a celebration about Prabal's work as a designer. But he does so much for the community. 'Prabal is more than a designer — he has used his platform in the fashion industry not only to create exquisite collections, but also to champion inclusion, identity and purpose. Our clients are drawn to his creative vision because of the way it empowers individuality, and we're proud to honor this milestone in his career,' Patel said. Patel said she's read excerpts, but hasn't read the whole book yet. 'I have it reserved for my Memorial Day weekend reading, uninterrupted,' she of WWD Salma Hayek's Fashion Evolution Through the Years: A Red Carpet Journey [PHOTOS] How Christian Dior Revolutionized Fashion With His New Look: A History and Timeline Cannes Film Festival's French Actresses Whose Iconic Style Shines on the Red Carpet [PHOTOS]
Yahoo
14-05-2025
- Business
- Yahoo
Saks Global Hires Advisers as It Works to Shore Up Liquidity
Saks Global, which told bondholders two weeks ago that it was looking at options to shore up its balance sheet, has brought some heavy-hitting advisers on board to help with the process. Sources told WWD that the Saks and Neiman Marcus parent is working with financial advisers at Bank of America and PJT Partners as well as legal experts at Willkie Farr & Gallagher and Kirkland & Ellis. More from WWD Saks Connections: Luxury Reset and Industry Shake-up What's the Big Idea? The WWD Beauty CEO Summit Speakers Have Quite a Few Saks Arrived on Amazon, the Trade War Is Still on Its Way Bank of America declined to comment and none of the parties immediately replied to a WWD query on Monday. While PJT and Kirkland are known for their expertise in helping companies navigate distressed situations, sources said Saks is looking to tap into the capital markets and strengthen its liquidity and is not working with the teams that handle other situations, like bankruptcies. The idea is to explore the company's different options and to beef up the balance sheet in 'an efficient manner' and not with a 'hair on fire process,' said one personal familiar with the effort. 'There's money around the edges' that can be tapped into, said the source, adding that every option was being looked at. Executive chairman Richard Baker and chief executive officer Marc Metrick have been working on a high-wire transformation at Saks — from integrating Neiman's and launching a storefront on Amazon to extending payment terms on vendors and smoothing out the finances. While that already seemed an ambitious undertaking when the company sold $2.2 billion in bonds to close the $2.7 billion Neiman's acquisition in December, it is now all the harder in a world scrambled by the Trump administration's on again, off again tariffs. The trade war, the attendant macro uncertainty and the roller-coaster market have especially pressured companies like Saks that are working through a transition. The company is said to still have liquidity of nearly $400 million, as it did when it updated bondholders late last month, and is positioned to make its $120 million interest payment on the bonds next month. But keeping bondholders calm has been a job. While the debt was trading at 97 cents on the dollar at the start of the year, it was going for about 60 cents on the dollar on Monday — a sharp decline for bonds just six months old. Metrick previously told bondholders that the company was working on a $300 million FILO facility that could be tapped quickly and would not add to the debt load as it would be carved out of the existing $1.8 billion asset-backed loan. Work on that is said to be coming along while the new advisers are also helping the Saks explore other options — including the potential sale of some of its $3.5 billion real estate portfolio or a sale-leaseback transaction or tapping into the value of noncore businesses. That would have Saks, which turned to vendors to help it through lean times in the past, digging into its own piggy bank to keep the business moving forward. Sources said the retailer plans to stick to its new 90-day payment terms with vendors while beginning to pay past-due bills to brands in July, as previously laid out. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Yahoo
12-05-2025
- Business
- Yahoo
What's the Big Idea? The WWD Beauty CEO Summit Speakers Have Quite a Few
We live in volatile times. To understand how the leaders who are speaking at the 2025 WWD Beauty CEO Summit are approaching both the challenges — and opportunities — around operating in such a complex global environment, we asked them to share their thoughts with us on the key issues of today. For many — the bigger the challenge, the more exciting the opportunity. We asked: As you look to the next 12-24 months, what's the big idea that's going to move your business forward? Cassandra Morales Thurswell, founder and CEO, Kitsch More from WWD Saks Connections: Luxury Reset and Industry Shake-up Saks Arrived on Amazon, the Trade War Is Still on Its Way Saks Bondholders Prove to Be a Tough Sell Despite uncertain times — tariffs, market fluctuations, and industry complexities — we remain committed to what works: incrementality, diversification and meeting the customer where they are. Kitsch is championing this new movement in beauty: leaning into the power of incrementality. In a world that often demands overnight transformation, we're embracing thoughtful, step-by-step growth, both for our customers and our brand. We're curating collections that take the guesswork out of beauty, showing customers exactly what they need and how to use it. Our vision for the next 12 to 24 months is to expand our offerings, explore new channels and strengthen our brand ecosystem. Our approach is inspired by the steady, purposeful growth of iconic brands like Apple — where every launch builds on the last and deepens the connection with the customer. We don't believe in disruption for disruption's sake. We believe in progress that lasts. By staying grounded in authenticity and anticipating real needs, we're making beauty feel accessible, intentional and empowering. When you don't know what's going to happen, you stick with what works, and being responsible always works. By collaborating with partners, staying true to our values and genuinely supporting our community, we're ensuring everyone feels taken care of — even in the face of uncertainty. Incrementality is no longer a slow burn — it's the spark. It's the antithesis of the hero sku, it's a strategic play. And Kitsch is igniting a smarter, more sustainable future, one meaningful step at a time. Michelle Peluso, CEO, Revlon The current macro environment is very challenging, but I'm going to look past that to the impact technology and AI are already having and will continue to have on our industry. My career has always been at the intersection of consumer and technology. The shifts happening today in technology and AI remind me of the early days of digital — where whole industries began to get remade, company by company, click by click. Technology and AI already are and will increasingly remake: How we sense consumer demand How we design How we manufacture product How we organize supply chains How we market How we code How we sell How we solve thorny retail problems, like shrink How we provide service How we learn, and so much more AI already can produce compelling content, visual imagery, dynamic creative, innovative pricing models, automation of code, beauty and packaging design alternatives, sophisticated supply chain insights and asynchronous chatbot servicing, to name a few. Moreover, improvement cycles are happening at a rapid pace. With all of this in mind, the question is how do we future-proof our organizations? We need new models for hiring talent, faster and bolder process redesign, new skills, new teaming, new incentives, and, perhaps most of all, new security and governance models. Never for the faint of heart, revolutions in capability like the one we are in now offer tremendous opportunity for those who are both thoughtful and bold. Emily Essner, president & chief commercial officer, Saks Global My vision for the future is grounded in the notion that when our brand partners succeed, Saks Global succeeds, and even more importantly, our customer wins. In the near- and long-term, I'm energized by the opportunity to deepen our relationships with our brand partners and maximize the impact of our partnership by strengthening our connection and collaborating into action, we'll build the most compelling luxury assortment and bring it to life for customers in a way that is expertly curated to their preferences, ensuring that our customer remains central to our strategy. As the largest multibrand luxury retailer in the world — with scale, expertise and robust customer insights — Saks Global is uniquely positioned to make this vision a reality through our well-located store fleet and unique e-commerce experiences. From bringing the most inspiring fashion and beauty to our customers, to amplifying our brand partners through innovative and exclusive activations, I look forward to capitalizing on the opportunity to deliver luxury perfectly curated to each customer. Saks Global's luxury retail brands maintain distinct experiences — preserving their individual and rich brand identities — but all chart towards a common goal of offering the best luxury fashion in partnership with emerging and established designers. With this foundation, and the customer at the forefront of our strategy, we are delivering 'The Art of You,' an elevated and seamless luxury shopping experience that is personalized to every customer at every touch point. Freddy Bharucha, president, global personal care, P&G Beauty Organizational culture and operating values have the ability to meaningfully impact business growth either positively or negatively. This starts with empowered accountability at all levels, where every team member knows what they are accountable to deliver and are fully empowered to make the bold choices needed to get there. Game-changing ideas can come from every corner, so it's important to constantly work at nurturing curiosity, creativity and bold thinking at every turn while empowering employees to trust their intuition. While not a breakthrough idea, empowered accountability is a big idea that's often easier said than done, and critical to the success of any business. This looks like being able to stay humble to learn, hungry to win, and treating each other with kindness, which helps us stay ahead, even in an increasingly dynamic environment. Jaimee Lupton, cofounder, Monday Haircare, Daise Beauty, Laura Polko Los Angeles, Being Haircare Young women have long been a driving force in beauty. While the term 'Sephora tweens' was recently coined to describe high schoolers swarming beauty retailers with feverish intensity —excitedly strolling the aisles of a Sephora, Ulta or local drugstore has been a pastime for tween girls looking to express themselves and make their mark on the world through their beauty purchases. But now they are the leading force in beauty: Since 2023, Gen Alpha is spending more on beauty than any other generation. The context collapse of social media has meant tweens have gained an impressive knowledge of ingredients and routine in recent years, coupled with their almost insatiable appetite for novelty. Considering their virtually unparalleled enthusiasm for beauty and fragrance, many brands count them as 'accidental' customers as a result of trickle-down marketing — but there are very few brands meeting them where they are with aspirational yet age-appropriate product offerings. In late 2024, we launched Daise Beauty: a mood-matching range of fragrance and body care that will soon expand into skin care and cosmetics, encouraging collectability, personalization and a less-serious approach to beauty. We plan on continuing to create products and brands to meet the fast-evolving needs and tastes of Gen Alpha. Unlike the generation before them (Gen Z's direct and indirect spending power is upward of $450 billion, and this is predicted to increase by 48% before 2030) members of Gen Alpha tend to be more at the whim of parental spending. However, their tastes are mature, and they demand an offering that respects this. Brands looking to tap into this cohort must create with Gen Alpha front of mind, from community and values to packaging and product design, and digital spend and marketing activations. With Gen Alpha at the fore, the future of beauty is bright. Joey Shamah, cofounder, AS Beauty Brands At AS Beauty, our core strategy for advancing the business centers around strategic acquisitions. We have become experts in revitalizing brands that have experienced slow growth. By focusing on digital expansion, operational efficiency and scalability, we capitalize on the brand equity built over time, while doubling down on the brands' origins and roots. We also recognize that not all products are created equal, so we prioritize the ones that truly drive the business, allowing us to focus on what matters most and scaling these key items for maximum impact. Our track record speaks for itself: With our initial five brands, we have successfully repositioned them as leaders in their respective markets and categories. As we look toward 2025 and beyond, we're positioned to maintain this momentum by adding transformative brands to our portfolio. This approach not only strengthens our market position but also underscores our commitment to sustainable, bottom-line growth. Dr Julius Few, plastic surgeon and founder, Dr Few Skincare Dr Few Skincare represents the first-of-its-kind clean, scientifically tested and clinically backed skin care that has been shown to be significantly effective through peer reviewed science publication, meaning it has met the rigorous requirements for scientific journal publication, including unbiased panel review and strict scientific method requirements. Our formulations are designed to address unmet needs in the current marketplace for skin care The next 24 months will be dramatic for managing post GLP-1 (i.e. Ozempic) or glucagon-like-peptide-1-related changes to the body and skin. I've developed a new state-of-the-art topical formulation to address skin-related changes in those individuals on GLP-1 therapy. Patients who notice wasting and premature aging of the skin due to GLP-1 therapy now have an answer, our clinically proven topical rejuvenation product DermaReverse. We believe that this will be a significant anchor to our business and at the same time provide an unmet need. We also believe that there is a significant opportunity to address concerns in the appearance of skin while protecting the skin from the environment, a new area that we are calling Regenerative Biodynamic Cosmeceutical Skincare. Melis del Rey, general manager, health and beauty, Amazon U.S. Stores The big idea propelling us forward is our integrated approach to beauty, wellness and health across the customer experience. From where I sit leading Amazon Health and Beauty in the U.S., my team is witnessing firsthand how these categories naturally converge in customers' lives. Customers shop across categories, from cosmetics to skin care to nutrition regimes and personal care essentials, based on a condition they're experiencing, such as acne, hair loss, antiaging or menopause. Amazon is uniquely positioned to understand these interconnected condition-based shopping missions. Today's customers don't see rigid boundaries between offerings. They're seeking holistic solutions, including, in some cases, access to care and other health services. Looking ahead, we're strategically expanding beauty adjacencies to create a shopping experience that supports Amazon customers to discover the right solution for their needs, all in one trusted destination. Priya Nair, president, beauty & wellbeing, Unilever Beauty and well-being are deeply interconnected: Enhancing one enhances the other and compromising one compromises both. People no longer see the pursuit of beauty and well-being as independent of each other. In fact, nearly nine in 10 people say they don't feel beautiful unless they also feel good on the inside. They're now seeking solutions that support physical appearance, mental well-being and positively contribute to overall health. At Unilever, we've seen this shift happen and are converging beauty and well-being to meet these evolving consumer needs. Part of our approach involves the advancement of new thinking through market-leading science. Unilever R&D started exploring the wellness-beauty connection over a decade ago. In the last five years, we've initiated several programs to establish a direct link between beauty and well-being. For example, stress can accelerate the aging process, signs of aging in return contribute to lower self-esteem which in turn can lead to higher psychological stress. We're also continuing to deliver premium products that address consumers' desire for both beauty and well-being benefits. This can be seen across our portfolio with brands such as Nutrafol and Liquid I.V., where this connection is integral to their core proposition, as well as in new innovations from brands like Dove and Clear. Jamie Elden, chief revenue officer, Listrak The industry is facing a pressing challenge as it navigates the evolving relationship between in-store and e-commerce — amid rising consumer demand for seamless, personalized shopping journeys. Meanwhile, conversations between brands and consumers have evolved. Consumers no longer want to be 'advertised to.' They're interested in brands that communicate their values, participate in their topics of interest and contribute to their conversations. The challenge for brands is to deliver these kinds of hyper-personalized communications, ones that are simultaneously rooted in both the brand's core values as well as the consumer's individual interests, and have those communications be consistently personalized across touch points, from SMS and email to e-commerce and brick-and-mortar. Key elements include: Brick-and-Mortar Meets Technology: Physical stores must evolve into hubs of engagement by integrating technology, transforming stores into experiential spaces and ensuring that shoppers receive tailored recommendations. E-Commerce Becomes More Dynamic: E-commerce platforms must also level up, integrating elements like dynamic on-site product recommendations to help personalize the shopping experience and differentiate themselves from the competition. Marketing Automation as the Bridge: By leveraging technology, brands can understand each consumer, unifying data to deliver hyper-personalized campaigns. Platforms like Listrak empower brands to engage customers effectively with the right content, on the right channel, at the right time — creating a single customer view so you can market to individuals, not just email or SMS lists. By truly understanding each individual, brands can deliver personalized messages that resonate and drive results, by winning, engaging and keeping customers. Best of WWD The Best Makeup Looks in Golden Globes History A Look Back at Golden Globes Best Makeup on the Red Carpet, From Megan Fox to Sophia Loren [PHOTOS] The Best Hairstyles in Golden Globes History
Yahoo
12-05-2025
- Business
- Yahoo
Saks Global Hires Advisers as It Works to Shore Up Liquidity
Saks Global, which told bondholders two weeks ago that it was looking at options to shore up its balance sheet, has brought some heavy-hitting advisers on board to help with the process. Sources told WWD that the Saks and Neiman Marcus parent is working with financial advisers at Bank of America and PJT Partners as well as legal experts at Willkie Farr & Gallagher and Kirkland & Ellis. More from WWD Saks Connections: Luxury Reset and Industry Shake-up What's the Big Idea? The WWD Beauty CEO Summit Speakers Have Quite a Few Saks Arrived on Amazon, the Trade War Is Still on Its Way Bank of America declined to comment and none of the parties immediately replied to a WWD query on Monday. While PJT and Kirkland are known for their expertise in helping companies navigate distressed situations, sources said Saks is looking to tap into the capital markets and strengthen its liquidity and is not working with the teams that handle other situations, like bankruptcies. The idea is to explore the company's different options and to beef up the balance sheet in 'an efficient manner' and not with a 'hair on fire process,' said one personal familiar with the effort. 'There's money around the edges' that can be tapped into, said the source, adding that every option was being looked at. Executive chairman Richard Baker and chief executive officer Marc Metrick have been working on a high-wire transformation at Saks — from integrating Neiman's and launching a storefront on Amazon to extending payment terms on vendors and smoothing out the finances. While that already seemed an ambitious undertaking when the company sold $2.2 billion in bonds to close the $2.7 billion Neiman's acquisition in December, it is now all the harder in a world scrambled by the Trump administration's on again, off again tariffs. The trade war, the attendant macro uncertainty and the roller-coaster market have especially pressured companies like Saks that are working through a transition. The company is said to still have liquidity of nearly $400 million, as it did when it updated bondholders late last month, and is positioned to make its $120 million interest payment on the bonds next month. But keeping bondholders calm has been a job. While the debt was trading at 97 cents on the dollar at the start of the year, it was going for about 60 cents on the dollar on Monday — a sharp decline for bonds just six months old. Metrick previously told bondholders that the company was working on a $300 million FILO facility that could be tapped quickly and would not add to the debt load as it would be carved out of the existing $1.8 billion asset-backed loan. Work on that is said to be coming along while the new advisers are also helping the Saks explore other options — including the potential sale of some of its $3.5 billion real estate portfolio or a sale-leaseback transaction or tapping into the value of noncore businesses. That would have Saks, which turned to vendors to help it through lean times in the past, digging into its own piggy bank to keep the business moving forward. Sources said the retailer plans to stick to its new 90-day payment terms with vendors while beginning to pay past-due bills to brands in July, as previously laid out. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Sign in to access your portfolio
Yahoo
09-05-2025
- Business
- Yahoo
Saks Connections: Luxury Reset and Industry Shake-up
Any good controversy has two, maybe three players squaring off, repositioning for a future that is usually coming much sooner than later. And then there's a focal point — some kind of friction or worry — that animates it all, forcing a kind of forward momentum. More from WWD What's the Big Idea? The WWD Beauty CEO Summit Speakers Have Quite a Few Saks Arrived on Amazon, the Trade War Is Still on Its Way Saks Bondholders Prove to Be a Tough Sell The state of Saks Global is not just a good controversy — it's a great one. Instead of only a few players, there's a kaleidoscope of interests all coming together, looking to merge Saks and Neiman Marcus, build the future of luxury shopping, continue to ship their goods — or just get out with a return on their investment. At the center of it all are Saks' executive chairman Richard Baker and its chief executive officer Marc Metrick. It was Baker who realized his years-long dream to buy Neiman's, closing a hard-fought $2.7 billion deal last year. But it's Metrick who has the day-to-day responsibility for making it work. Their attempt to reset the luxury model has included longer payment terms for vendors, a new organizational structure with a commercial team instead of chief merchants, cost cutting and more. Each step of the way there has been something noteworthy — a ton of angst, some strategic pivot, strange bedfellows or big-time money. Early investors like Insight Partners, who gave the company $500 million in 2021 to establish a stand-alone Saks e-commerce business, needed to flex with the changing market and strategy. New investors and partners had to be brought onboard, including Amazon, which just launched a Saks e-commerce storefront. Brands that kept shipping to Saks even as past-due bills piled up needed to accept a delayed repayment schedule. Factors, like Hilldun's Gary Wassner, had to navigate between brands and the retailers, deciding which shipments to secure. The workforce at Saks and Neiman's weathered cuts and some store closures. And all the while competitors like LuxExperience, the new Mytheresa and Net-a-porter mashup, have have been angling for advantage. Now it's the bondholders who have surged to the fore. Even though it was just five months ago that Saks sold $2.2 billion in bonds to finance the combination, the investors holding that debt are nervous, trading it for less than 58 cents on the dollar. Metrick said the company has nearly $400 million in liquidity. But talk of liquidity is rarely all that reassuring and the market — made up of the hundreds of investors who now hold the bonds — is looking ahead to a roughly $120 million interest payment due at the end of June. That comes on top of the bills to vendors for spring merchandise and the back payments to brands that are promised to start in July. Bondholders are now waiting to see how the luxury reset will play out. They have plenty of company. The Bottom Line is a business analysis column written by Evan Clark, deputy managing editor, who has covered the fashion industry since 2000. It appears periodically. Best of WWD Tailoring Black Style: Celebrating Iconic Black Male Figures in Fashion Kate Middleton and Prince William's 14 Most Iconic Matching Moments: A Celebration of Style and Love 14 Cutest Kate Middleton and Prince William's Look-alike Couple Style Moments [PHOTOS] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
