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PREVIEW VERSION
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Hi, and welcome back to Line Sheet. London Fashion Week has begun, but if
you’re in Los Angeles for Frieze (or because you live here), please don’t hesitate to stop by Coop on Beverly Boulevard today or tomorrow. Owner Jenna Cooper and many of my friends, including The Only Jane founder Jane Herman and designer Clare Vivier, are hosting a pop-up shop with other L.A.-based fashion brands, from kids’ line Milk Teeth
(co-founded by longtime fashion editor Catherine Newell-Hanson) to Jamie Haller. Ten percent of the proceeds will benefit people impacted by the fires.
In today’s oh-so-very-special Inner Circle issue (upgrade here for eternal salvation), I’m sharing everything I
know about what’s happening at Saks Global as owner Richard Baker and C.E.O. Marc Metrick aim to, uh, reset how fashion is bought and sold in the U.S. I’ve also got some intel on a quintessential California brand on the block, and a look at how Rothschild became the go-to banker for midsize fashion companies looking to sell. Finally, Sarah Shapiro explains how the new California bill that prevents under-18s from buying certain skincare
formulations would be a real pain (and expense) for brands.
🚨🚨 Programming note: Tomorrow on Fashion People, I’m joined by Emilia Wickstead, who shows her new collection on Sunday. (See you there!) We discuss what it’s like to build a business around dressing up in a dressed-down world, why bothering with a fashion show is a worthy endeavor, and why she drinks Athletic Greens.
Listen here and here.
Mentioned in this issue: Saks Global, Marc Metrick, Neiman Marcus, Bergdorf Goodman, Richard Baker, Hermès, Bottega Veneta, Gary
Wassner, LVMH, Amazon, Luca Solca, Bernard Arnault, Rothschild & Co., the Wertheimers, Chanel, The Row, Jenni Kayne (the brand and person), Richard Kayne, and many more…
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Three Things You Should Know…
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- Everything’s coming up Rothschild & Co.: Last week, after I wrote about Oscar de la Renta, a close Line Sheet reader suggested I examine the rise of Paris-headquartered Rothschild & Co. as the preferred...
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today.
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The Metrick memo that shook the world—and the broken model of multibrand retail that
produced it.
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Late Friday afternoon, which just happened to be Valentine’s Day, my phone started buzzing with
angry texts about the letter that Saks Global C.E.O. Marc Metrick had just sent to vendors. The memo was straightforward about the company’s attempt to change the way the fashion industry does business in the U.S. In particular, Metrick declared that brands will now be paid within 90 days of shipping products to Saks, Neiman Marcus, or Bergdorf Goodman (its portfolio companies), rather than the customary 30. And while the net-90 policy was worrisome enough to vendors,
Metrick also wrote that the company wouldn’t start paying back currently overdue invoices to brand partners until...
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Puck founding partner Matt Belloni takes you inside the business of Hollywood, using exclusive reporting and insight to
explain the backstories on everything from Marvel movies to the streaming wars.
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Puck’s daily art market email, anchored by industry expert Marion Maneker, offers unparalleled access to the mega-auctions
and galleries, elite buyers and sellers, and the power players who run this opaque world. Wall Power also features Julie Brener Davich, a veteran of Christie’s and Sotheby’s, who provides unique insights into how the business really works.
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