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What’s Going On With Barneys? (Business of Fashion)
Despite the October 31st deadline for pitches to buy Barneys, Authentic Brands Group is claiming its $271.4 million bid has already won. On Thursday, ABG’s founder and CEO, Jamie Salter, claimed the company’s offer was accepted. But the retailer has refuted this claim to BoF.
Barneys first filed for bankruptcy in August. ABG made its bid public earlier this month, but faced competition from a group of investors led by KITH co-founder Sam Ben-Avraham. Originally, a bankruptcy judge was set to make a decision on October 24, but the deadline has since been pushed to the 31st. Ben-Avraham is still very much in the race, and even launched a “Save Barneys” petition. Meanwhile, David Jackson, the former CEO of Istithmar World, has also submitted a bid.
Kim Jones Talks About Dior’s Rimowa Collab (Vogue Business)
In June, Kim Jones debuted a collaboration with Rimowa on Dior’s menswear runway. It was a smash hit, generating a lot of excitement from fans. The reason for much of the interest (besides how cool they looked) was thanks to Jones introducing new shapes, including a champagne case. “I like the fact that they don’t say no,” he says of working with Rimowa. “I don’t believe in ‘no, impossible.’ I believe in ‘let’s try.'” If this collab is successful with shoppers, Dior might launch its own luggage collection.
Gucci Awards 11 Young Designers Coveted Design Fellowships (WWD)
Last night in Rome, Gucci narrowed down 50 finalists for its design fellowship program to 11 lucky designers. The winners, all students, hail from 10 design schools from around the world, including China, Dubai, Ghana, Japan, Kenya, Korea, Mexico, Nigeria, South Africa, and the U.S. Originally only 10 spots were offered, but Gucci’s team was so taken with the young designer from Ghana that they didn’t want to let him go.
Facebook Introduces Facebook News (New York Times)
Today, Facebook is launching a new section on its mobile app, Facebook News. The platform is paying for news from a variety of sources — including the New York Times and the Wall Street Journal, as well as Buzzfeed and local outlets — to offer stories. “We feel acute responsibility because there’s obviously an awareness that the internet has disrupted the news industry business model,” Mark Zuckerberg said. “We’ve figured out a different way to do this that we think is going to be better and more sustainable.”