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NEWS Gores Group Takes Stake in Big Strike, Schneider Joins Team After years of searching for an investor, Big Strike Inc.—whose juniorswear labels include Heart Soul, Soulmate and Free to Love—has gotten a financial boost from The Gores Group, a Los Angeles privateequity firm. Terms of the deal for a majority share in the company were not revealed. “The Gores Group is an ideal partner to help take Big Strike to the next level,” said Lars Viklund, co-founder and president of the apparel company, which has its headquarters in Gardena, Calif. “They have incredible strategic and operational capabilities with access to an abundance of capital that can be used to support our anticipated growth.” The Gores Group, founded in 1987 by Alec Gores, has been looking for apparel investments. Last year, it invested in J. Mendel, a global luxury fashion brand in New York. This is the company’s first investment in a juniorswear maker. “Big Strike is a great company with terrific product lines and strong relationships with many of the best retailers in the industry. We look forward to partnering with Big Strike’s current management team and founders—Lars Viklund, Jodi Sundberg and Kevin Talbot—to realize the full potential of the business,” said Jeff Schwartz, managing director of The Gores Group. As part of the deal, Paula Schneider, former president of Speedo and Laundry by Shelli Segal, is coming on board as Big Strike’s chief executive. The Sage Group, a Los Angeles investment bank, was an adviser to Big Strike in the transaction.—Deborah Belgum 2 CALIFORNIA APPAREL NEWS June 3–9, 2011 REtAIL SALES May Sales Solid but Uneven May retail sales increased 5.4 percent on a year-over-year basis, according to the International Council of Shopping Centers, but the sales growth was called strong but uneven by the trade group’s chief economist, Michael Niemira. “There were a few pockets of weakness at some mid-tier retailers and among apparel retailers,” he said. May also could be defined as a mixed bag. Hot weather on the East Coast boosted apparel sales during May, but cold and wet weather on the West Coast hurt apparel sales. Easter fell on April 24, later than in previous years, and May apparel sales looked flat in comparison with April sales, according to Michael McNamara, vice president of research and analysis for market researchers MasterCard Advisors Spending Pulse. However, overall, May results still looked good by MasterCard’s research. Total U.S. apparel sales recorded a 5.9 percent year-over-year increase. Department-store giant Macy’s Inc. reported same-store sales increased 7.4 percent in May. The retailer reported total sales of $1.9 billion for the four weeks ending May 28, which was an increase of 8.5 percent compared with total sales of $1.7 billion for the same time last year. With this good news, Macy’s increased its guidance for its second quarter. Samestore sales were forecast to increase by 5 percent in the second quarter, compared $Sales % Change Same-store (in millions) from yr. ago sales % change DISCOUNTERS Target $4,799.00 +3.8% +2.8% OFF-PRICERS Ross Stores $ 661.00 +8.0% +4.0% TJX $1,700.00 +7.0% +2.0% DEPARTMENT STORES Dillard’s $434.00 +2.0% +2.0% JCPenney $1,187.00 -3.3% -1.0% Kohl’s $1,372.00 +2.5% +0.8% Macy’s $1,937.00 +8.5% +7.4% Neiman Marcus $301.00 +12.4% +12.0% Nordstrom $796.00 +13.0% +7.4% Saks $208.20 +17.3% +20.2% SPECIALTY STORES The Buckle $68.10 +12.7% +8.8% Gap $1,060.00 +1.0% -4.0% Hot Topic $42.00 -1.5% +0.4% Wet Seal $44.50 +10.6% +2.9% Zumiez $30.00 +14.9% +7.8% Information from company reports May Retail Sales with the previous guidance of 4 percent in the second quarter. Teen retailers Hot Topic Inc. and Zumiez Inc. reported solid sales for May. Same-store sales for Hot Topic increased 0.4 percent. The retailer had $42 million in net sales, compared with $42.6 million in net sales in May 2010. Zumiez, based in Everett, Wash., reported a same-store-sales increase of 7.1 percent compared with the same time last year. Its net sales increased 14.9 percent to $30.3 million, compared with $26.3 million last year. June sales were forecast to be solid by ICSC. Sales will increase by 4 percent to 5 percent with fuel sales included and 3 percent to 4 percent without fuel.—Andrew Asch EvENtS Fred Hayman Honored for Putting Rodeo Drive on the Map GIORGIO MAN: Legendary retailer Fred Hayman, owner of Giorgio Beverly Hills—later called Fred Hayman Beverly Hills—was honored as the 15th recipient of the Rodeo Drive Walk of Style Award. For more on the event, see ApparelNews.net. check the web ApparelNews.net For more stories •New exec for Not Your Daughter’s Jeans •Obituary: L-R-G’s Jonas Bevacqua, 33 • California Apparel News Calendar (www.apparelnews.net/calendar) volker corell Week In RevIew National Swipe-fee fight. The National Retail Federation has launched a 60-day nationwide campaign to make sure that a reduction in the swipe fee for debit cards goes into effect as planned in late July. A reduction in swipe fees was passed by Congress last year as part of the Wall Street reform bill, but the credit-card industry is spending funds to delay the reform. The NRF believes that the reduction in swipe fees, also known as interchange fees, will save retailers at least $14 billion a year. Swipe fees are charges banks impose to process debitcard transactions. Part of the campaign involves flying in business leaders to Washington, D.C., in June to meet with congressional leaders to support the swipe-fee reform. The campaign is also mobilizing retailers across the country to lobby their local representatives to support swipe-fee reform. Trade-agreement controversy. A bipartisan letter signed by 52 members of Congress has been sent to U.S. Trade Representative Ron Kirk urging him to negotiate for strong textile and apparel terms in the ongoing Trans-Pacific Partnership free-trade-agreement talks. Smyth McKissick, chief executive of Alice Manufacturing of Easley, S.C., said a loophole-free rule of origin must encompass fiber, yarn, fabric, dyeing and finishing, thread, pocketing, and assembly to make sure the agreement is favorable to all parties involved. The Trans-Pacific Partnership is a free-trade agreement that would encompass countries on both sides of the Pacific Ocean. Countries that have signed on for negotiations include the United States, Chile, Peru, Malaysia, Vietnam, New Zealand, Australia, Brunei and Singapore. Apparel and textile leaders in the United States want to make sure customs enforcement rules are strengthened, that a yarn-forward rule of origin for textiles and apparel be adopted, and that Vietnam be required to meet certain transparency and market-based economy benchmarks before gaining any trade benefits. International Luxury brands fight. The controversy between Hermès and LVMH hit front and center at a recent shareholders’ meeting in Paris. Hermès called on LVMH to sell half of its 20 percent stake in Hermès stock. Luxury brand LVMH—whose products include Möet & Chandon champagne, Louis Vuitton leather goods and Christian Dior fragrances—has since 2008 been quietly buying up Hermès stock and alarming the family members who own 70 percent of Hermès. They believe LVMH is posing to take over the company. At the stockholder meeting on May 30, LVMH executives said they wanted to forge a dialogue with Hermès and were not interested in destabilizing the company. Quote of the Week If they want to try something different, I’m all for it because I like innovation and I want to see what they’ll do without Big Daddy. —Tommy Hilfiger, quoted in an interview with The Wall Street Journal about his two design specialists, Peter Som and Simon Spurr, who are helping to innovate the label
Texprocess Continued from page 1 At Texprocess, the new apparel supplychain trade show organized by Messe Frankfurt, the full apparel-industry supply chain was on display at the cavernous Messe Frankfurt convention center. The new show debuted alongside the longstanding Techtextil show, which highlights the latest in technical textiles for industrial—and apparel—applications, and Material Vision, a trade show for product development, design and architecture. “The whole range of product is here,” said Stephanie Everett, group show director, textile shows, for Messe Frankfurt. According to Messe Frankfurt, the debut of Texprocess drew 16,000 visitors. Techtextil and Material Vision drew 24,500 visitors, up 2.5 percent from the last show in 2009. In all, both shows featured 1,561 manufacturers from 60 countries. Many of the exhibitors at Texprocess said the mix of equipment, technology and technical textiles provided lots of opportunities across several industries. “The concept is a good one, and it brings a lot of opportunities, being together with Techtextil,” said Alexander Neuss, general manager for Lectra Deutschland GmbH, the German division of the French machinery and software maker. “We’re surprised with the quantity and the quality of people who have shown up. For all markets [including automotive, technical textiles, upholstery and fashion], the most important customers have shown up.” Many Techtextil exhibitors were also taking advantage of the new influx of apparel attendees for Texprocess. French textile maker Sofileta is a longtime exhibitor at Techtextil, but the company typically only sends representatives from its technical textile divisions. This time, the company brought its fashion division BUSY LAUNCH: Texprocess drew 16,000 visitors to its debut in Frankfurt, Germany. The trade show, which features the full spectrum of the apparel-industry supply chain, will be held next in Atlanta in 2012, alongside the Techtextil North America trade show. for the first time, said Eric Firmann, who overseas Sofileta’s fashion and activewear business. Sofileta landed an Avantex Innovation Award at the show for its new Sofileta Cooling Fabric, which uses Luxicool yarn. The fabric is already in production with a high-end cycling brand, a company that manufactures running clothing and a company that produces apparel for rescue workers operating in extreme conditions. Test-driving software Software providers—from product lifecycle management and product data management solutions to CAD software—were also part of the Texprocess mix, where attendees had a chance to preview the latest software for apparel designers, patternmakers and production teams. TRADE SHOW REPORT FIRST Première IN It was back-to-back demonstrations at the Optitex booth, where Amnon Shalev, vice president of sales and marketing for the Israelbased company, and Julia Shaw, national support manager, were walking visitors through the company’s latest 3-D CAD system. “It’s been a pretty big crowd,” Shalev said. Shalev and Shaw agreed that the turnout from Eastern Europe was “very dominant” but said they also met with attendees from the United States, Asia, India, China, Pakistan, North Africa and Western Europe. Shaw said some European apparel makers were looking to shift some of their production from China back to Europe and were interested in workflow solutions that integrated PLM and PDM functions. Visitors from Russia, Poland, India and Pakistan turned out to meet with TXT e-solutions GmbH, a Halle, Germany–based provider of supply-chain-management solutions. Managing Director Holger Klappstein said the prospective customers were “very interesting.” The company did not meet with many U.S. companies, added Wolfgang Amann, strategic account manager, although he said the company had other plans for U.S. expansion. “The strategy is more to acquire a company in the U.S.—rather than grow organically— and have a push immediately then,” he said. For now, the company has been building its U.S. customer base though referrals as a member of the Microsoft partnership network. With 20 years working with the fashion industry—“apparel is our heritage,” Amann said—TXT has products for a company of any size. “We can work with small companies and the big guys,” he said, adding that TXT has a pricing structure that supports small- to midsize companies. “That’s where we see growth in the U.S.” JULY 13-14, 2011 FALL WINTER I2 I3 Vision Preview New York The premier textile workshop Première Vision Inc. Tel: [1] 646 351 1943 pvusa@premierevision.com www.premierevision-newyork.com Munich, Germany–based Koppermann Computersysteme GmbH was showing its system, which includes modular solutions for PLM, PDM and visual merchandising. “For the PDM system, you can start with a small database, and the database can grow with you,” said Madlen Gschwenter, international sales and marketing. “It’s the same with visual merchandising. You can start on your laptop and add on after that.” Eye on Atlanta Next year, Messe Frankfurt will bring Texprocess to the United States for its April 24–26 debut at the Georgia World Congress Center in Atlanta. Co-produced by industry organization SPESA (the Sewn Products Equipment & Suppliers of the Americas), Texprocess Americas will also run alongside Techtextil North America. (Texprocess Frankfurt is co-produced by the VDMA Garment and Leather Technology trade association.) Texprocess organizers hope to draw more attendees from North and South America at the Atlanta show. “We’re bringing the mountain to them,” said David Audrain, president of Messe Frankfurt U.S.A. For SPESA, Texprocess America’s cosponsor, the Frankfurt show was a good beginning. “This is a good first show,” said Dave Gardner, SPESA’s managing director. “The international players are all set to go to Atlanta. We’re in a business that is growing.” ● Check the Web for more Texprocess coverage, including THERE’S MORE at ApparelNews.net new developments in machinery and new opportunities in the United States. PreviewNY_CaliforniaAppareilNews_AW1213_250,8x171,4.indd 1 JUNE 3–9, 2011 CALIFORNIA APPAREL 06/05/11 NEWS 10:453
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