Coach Looking to Europe for Expansion: Coach has signed a partnership arrangement with French department store operator Printemps and a joint venture with UK men’s wear company Hackett for distribution in the UK, Spain and Portugal. The first result of the deal in France will be a 1700 sq ft shop in Printemps Boulevard Haussman flagship in Paris scheduled for June. The agreement has plans for 14 such boutiques in the next 3 years.
Vera Wang Marries David’s Bridal: Vera Wang, perhaps the biggest name in luxury bridal, has signed a long-term agreement with David’s Bridal, the 308 store mall and strip center based volume bridal house. This looks like a win win for both parties and also for all of those brides out there in America (David’s has locations in all 50 states) whose aspirations are larger than their pocketbooks. The gowns will be priced from $600-$1200.
Armani & Reebok Partner Up: Giorgio Armani and Reebok are collaborating on an activewear collection for men and women called EA7/Reebok scheduled to ship to stores this summer. The product will be both apparel and footwear. The apparel will be priced at $65-$190 and the footwear at $140-$150. The plans are for a continued partnership beyond the first season.
Iconix Continues to Deal: Iconix announced that they are purchasing the iconic cartoon character “Peanuts” and related properties, for $175 million in cash from United Features Syndicate and EW Scripps. They are setting up a new subsidiary in partnership with the heirs to Charles Schultz, the Peanuts creator, with Iconix owning 80% and the Schultz family 20%. They estimate that the properties, which have $2 billion in annual retail sales, will generate $75 million in annual royalty revenue and add between 12 and 15 cents to EPS. Additionally, it is part of an initiative to further diversify the Iconix portfolio away from dependence on pure fashion.
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