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Kohl’s delivered a record-breaking Thanksgiving both in-store and on Kohls.com with hundreds of thousands of customers lined up across the country prior to doors opening, more than 16 million visits to Kohls.com, and key doorbuster items selling extremely well.
“Black Friday sales and traffic have been very strong, both online and in store – well ahead of last year,” said Kevin Mansell, Kohl’s Chairman, CEO and President. “We’re leaning into customers’ desire to shop when and how they want, and making their experience seamless in-store and online. Our customers are responding to a real differentiator they can only get at Kohl’s this week – $15 Kohl’s Cash for every $50 spent. While Thanksgiving week is just the beginning of the holiday season, we’re well prepared to keep this momentum going throughout December. With great promotions, well-balanced inventories, compelling products, enhanced personalization tactics, and a strong digital business, we’re confident we’ll deliver a strong holiday season.”

Black Friday Highlights:

Thanksgiving Day was a record day for Kohls.com, both in terms of sales and traffic, with nearly 16 million people visiting the site
Mobile represented more than 60 percent of digital traffic on Thanksgiving
Kohl’s store sales and traffic were very strong and well ahead of last year
Our store associates fulfilled nearly 40 percent more Buy Online, Pick Up In Store orders this year
Home, Tech items and Active were outperforming categories in-store and online
Key selling items were Instant Pot, Fitbit, Apple Watches, Blanket throws, Nike and Under Armour gifts
Customers will continue to find great savings with Kohl’s Cyber Week sales event kicking off Saturday, November 25 and running through Wednesday, November 29 in store and on Kohls.com.

SEATTLE, — Pop-In@Nordstrom is celebrating the holidays with a design-centric gift shop in collaboration with The Museum of Modern Art’s MoMA Design Store, known for its curator-approved gifts that bring quality, creativity, and design innovation to everyday living. The shop opens November 17 in select Nordstrom stores and online.

MoMA Design Store gifts

Each item selected by MoMA Design Store is product-tested using real-life scenarios, and reviewed by MoMA curators. Prices range from $10 for coasters disguised as toast to $6,000 for a giant clock made up of 24 smaller, round clocks choreographed together to form one digital display.

“I’ve always been a huge fan of MoMA Design Store and their ability to thoughtfully consider the most interesting, exclusive, and enticing products from around the world and to have the opportunity to partner with them this holiday season is very exciting,” said Olivia Kim, vice president of Creative Projects at Nordstrom. “We are looking forward to seeing our customers engage with an institutional and iconic brand through a compelling and fun shopping experience and hope they love it as much as we do.”

“MoMA Design Store is thrilled to present a selection of MoMA curator-approved design objects and gifts to the incredible Pop-In@Nordstrom customer base this holiday season,” says Thomas Randon, General Manager, Retail at The Museum of Modern Art. “With such an engaging shopping format, it is a wonderful opportunity for design-conscious shoppers on the West Coast, in the Midwest, and in Canada to discover our unique products in person.”

In addition to MoMA Design Store gifts, the shop includes a selection of gifts hand-picked by Kim and her buying team spanning home, kitchen and dining, tech and gadgets, accessories, beauty, toys and games, and more. There will also be a build your own box program within the shop, allowing customers to pick five out of 25-30 featured products for a total of $50. Featured items include Christmas cards, wrapping paper, twine, stamps, toys, beauty, and more.

The shop design is a clean and simple aesthetic featuring shelving in a gradient of colors from red to magenta that changes in appearance as it is viewed from different angles.

Pop-In@Nordstrom Holidays Featuring MoMA Design Store is available in eight Nordstrom locations and online at Nordstrom.com/pop from November 17 to January 7:

Bellevue Square, Bellevue, Wash.
CF Pacific Centre, Vancouver, B.C.
CF Toronto Eaton Centre, Toronto, Ont.
Downtown Seattle, Seattle, Wash.
Michigan Avenue, Chicago, Ill.
NorthPark Center, Dallas, Texas
South Coast Plaza, Costa Mesa, Calif.
The Grove, Los Angeles, Calif.
ABOUT POP-IN@NORDSTROM
Launched in October 2013, Pop-In@Nordstrom is an ongoing series of themed pop-up shops that transitions every four to six weeks to offer a new shopping experience and batch of new, often exclusive merchandise. Pop-In takes two forms: a shop curated around a theme featuring brands across different product categories (fashion, beauty, lifestyle, home/garden, sports/outdoors, etc.), or a partnership with a single brand to bring “the world of” to customers. Pop-In@Nordstrom was built on a monthly rotation to keep customers coming back to discover new brands, new merchandise and create a fun and compelling experience in stores and online. Each shop features a mix of hand-picked merchandise spanning the high/low price range, with price points often starting at $5.

Pop-In@Nordstrom was the first initiative from the Nordstrom Creative Projects team, under the direction of Olivia Kim (vice president of Creative Projects). In her role, Kim focuses on creating energy, excitement, a sense of discovery and a bit of disruption through engaging and unique shopping experiences at Nordstrom, both in-stores and online. Kim’s Creative Projects initiatives have established Nordstrom as a platform to test retail concepts, bring limited distribution collections to customers, and introduce them to the best up-and-coming brands and new talent.

Pop-In@Nordstrom partnerships have included: Pop-In@Nordstrom partnerships have included: Aesop, Alexander Wang, Converse, Danish home goods brand HAY, design-driven wares from Los Angeles based Poketo, Everlane, Gentle Monster, goop, Hanes, home goods from Liberty London’s Flowers of Liberty collection, Nike, Opening Ceremony, rag & bone, the best of Korean fashion and beauty, Topshop/Topman, the U.S. debut of Hong Kong fashion collective I.T., the Italian Trade Commission, VANS, and Warby Parker.

ABOUT MOMA DESIGN STORE
MoMA Design Store offers curator-approved products that bring quality, creativity, and design innovation to everyday living. Every purchase supports groundbreaking exhibitions at The Museum of Modern Art (MoMA), a wide range of education programs, and the preservation of the Museum’s collection. In 1932, MoMA was the first art museum to establish a curatorial department dedicated to Architecture & Design, and by mid-century, it was playing a leading role in defining and promoting the values of “Good Design,” which MoMA Design Store continues to champion. Shop online at store.moma.org, or at our locations in SoHo, on 53rd Street, and within The Museum in New York City.

BENTONVILLE, Ark. and NEW YORK, NY – Walmart.com and Lord & Taylor announced today that Lord & Taylor will launch a flagship store on Walmart.com. Expected to launch in spring 2018, Walmart.com will introduce a specialized online experience offering premium fashion brands directly from the Lord & Taylor flagship.

“Our goal is to create a premium fashion destination on Walmart.com,” said Denise Incandela, Head of Fashion, Walmart U.S. eCommerce. “We see customers on our site searching for higher-end items, and we are expanding our business online to focus on adding specialized and premium shopping experiences, starting with fashion. We’re excited that Lord & Taylor is part of the team we’re working with as we continue to create a new Walmart.com.”

In conjunction with the launch of the Lord & Taylor flagship store on Walmart.com next year, Walmart is also evolving how customers will be able to shop fashion on the site, adding elements of discovery and inspiration. As part of this experience, Lord & Taylor will have a dedicated store on Walmart.com and the Walmart app that will reflect the premium fashion it is known for, reaching exponentially more shoppers than it currently does through lordandtaylor.com.

“As retail continues to change, this flagship store creates enormous growth opportunities for Lord & Taylor and our brand partners,” said Liz Rodbell, President of Lord & Taylor. “Our customers trust us to deliver high-quality fashion apparel and accessories, and we will soon be able to extend the reach of that offering to new customers through this flagship store. Walmart.com is a shopping destination that reaches a wide base of customers looking for premium fashion brands. They are a great company for us to work with as we continue to grow our digital presence.”

Over the past year, Walmart has aggressively expanded its online assortment. Walmart.com currently offers more than 60 million items on the site, compared to 20 million items last year. At the same time, Lord & Taylor continues to evolve its department store model, combining brick and mortar locations with compelling online destinations for a truly exciting all-channel experience.

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About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, over 260 million customers and members visit our more than 11,600 stores under 59 banners in 28 countries and e-commerce websites in 11 countries. With fiscal year 2017 revenue of $485.9 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.

About Lord & Taylor
Founded in 1826, Lord & Taylor is the oldest department store in the United States and one of the country’s premier retailers. It has built its reputation on offering high-quality fashion apparel and accessories, exciting store environments, and seamless service. Lord & Taylor operates 50 full-line locations primarily in the northeastern and mid-Atlantic U.S. and lordandtaylor.com. It is part of the Hudson’s Bay Company brand portfolio.

NEW YORK– Coach, Inc. (NYSE:COH) (SEHK:6388), a leading New York design house of modern luxury accessories and lifestyle brands, today announced it has signed a definitive agreement to acquire Kate Spade & Company (NYSE:KATE). Under the terms of the transaction Kate Spade shareholders will receive $18.50 per share in cash for a total transaction value of $2.4 billion. The transaction represents a 27.5% percent premium to the unaffected closing price of Kate Spade’s shares as of December 27, 2016, the last trading day prior to media speculation of a transaction. The transaction has been unanimously approved by the Boards of Directors of Kate Spade & Company and Coach, Inc.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170508005427/en/

Victor Luis, Chief Executive Officer of Coach, Inc. said, “Kate Spade has a truly unique and differentiated brand positioning with a broad lifestyle assortment and strong awareness among consumers, especially millennials. Through this acquisition, we will create the first New York-based house of modern luxury lifestyle brands, defined by authentic, distinctive products and fashion innovation. In addition, we believe Coach’s extensive experience in opening and operating specialty retail stores globally, and brand building in international markets, can unlock Kate Spade’s largely untapped global growth potential. We are confident that this combination will strengthen our overall platform and provide an additional vehicle for driving long-term, sustainable growth.”

Craig A. Leavitt, Chief Executive Officer of Kate Spade & Company, said, “Following a thorough review of strategic alternatives, reaching an agreement to join Coach’s portfolio of global brands will maximize value for our shareholders and positions Kate Spade for long-term success as we continue our evolution into a powerful, global, multi-channel lifestyle brand. We look forward to working with Coach’s leadership team to leverage their expertise across the business as we continue to innovate and build long-term loyalty with consumers and expand across our product category and geographic axes of growth.”

Kevin Wills, Coach’s Chief Financial Officer added, “Due to the complementary nature of our respective businesses, we believe that we can realize a run rate of approximately $50 million in synergies within three years of the deal closing. These cost synergies will be realized through operational efficiencies, improved scale and inventory management, and the optimization of Kate Spade’s supply chain network. At the same time, to ensure the long-term viability and health of the Kate Spade brand, and similar to the steps Coach has itself taken over the last three years, we plan to reduce sales in Kate Spade’s wholesale disposition and online flash sales channels. Therefore, the reduction in profitability from the pullback in these channels will be offset by the realization of these substantial synergies. As a result, we expect that the acquisition will be accretive in fiscal 2018 on a non-GAAP basis, and will reach double-digit accretion by fiscal 2019, also on a non-GAAP basis.”

Mr. Luis concluded, “The acquisition of Kate Spade is an important step in Coach’s evolution as a customer-focused, multi-brand organization. The combination enhances our position in the attractive global premium handbag and accessories, footwear and outerwear categories, bringing product, brand positioning and customer diversification to the portfolio, and establishing scale in key functions with the resources to invest in talent and innovation. In addition, we believe the Kate Spade brand will benefit from our best-in-class supply chain and strong corporate infrastructure.”

Strategic Rationale
The combination of Coach, Inc. and Kate Spade & Company will create a leading luxury lifestyle company with a more diverse multi-brand portfolio supported by significant expertise in handbag design, merchandising, supply chain and retail operations as well as solid financial acumen. Coach’s history and heritage, multi-channel, international distribution model, and seasoned leadership team uniquely position it to drive long-term sustainable growth for Kate Spade. Coach is focused on preserving Kate Spade’s brand independence as well as retaining key talent, ensuring a smooth transition to Coach, Inc.’s ownership.

Transaction Details
The transaction is not subject to a financing condition. Coach has secured committed bridge financing from BofA Merrill Lynch. The $2.4 billion purchase price is expected to be funded by a combination of senior notes, bank term loans and approximately $1.2 billion of excess Coach cash, a portion of which will be used to repay an expected $800 million 6-month term loan. The transaction is expected to close in the third quarter of calendar 2017, subject to customary closing conditions, including the tender of a majority of the outstanding Kate Spade & Company shares pursuant to the offer and receipt of required regulatory approvals.

Advisors
Coach’s financial advisor is Evercore Group L.L.C. and its legal advisor is Fried, Frank, Harris, Shriver & Jacobson LLP. Kate Spade & Company’s financial advisor is Perella Weinberg Partners LP and its legal advisor is Paul, Weiss, Rifkind, Wharton & Garrison LLP.

A telephone replay will be available starting at 12:00 p.m. EDT today, for a period of five business days. To access the telephone replay, call 1-800-585-8367 or 1-404-537-3406 and enter the Conference ID 20303086. A webcast replay of the conference call will also be available for five business days.

About Coach
Coach, Inc. is a leading New York design house of modern luxury accessories and lifestyle brands. The Coach brand was established in New York City in 1941, and has a rich heritage of pairing exceptional leathers and materials with innovative design. Coach is sold worldwide through Coach stores, select department stores and specialty stores, and through Coach’s website at www.coach.com. In 2015, Coach acquired Stuart Weitzman, a global leader in designer footwear, sold in more than 70 countries and through its website at www.stuartweitzman.com. Coach, Inc.’s common stock is traded on the New York Stock Exchange under the symbol COH and Coach’s Hong Kong Depositary Receipts are traded on The Stock Exchange of Hong Kong Limited under the symbol 6388.

About Kate Spade & Company
Kate Spade & Company (NYSE:KATE) operates principally under two global, multichannel lifestyle brands: kate spade new york and Jack Spade New York™. The Company’s four category pillars – women’s, men’s, children’s and home – span demographics, genders and geographies. Known for crisp color, graphic prints and playful sophistication, kate spade new york aims to inspire a more interesting life. The kate spade new york collection includes the Madison Avenue, Broome Street and on purpose labels. Jack Spade New York offers a timeless and versatile assortment of bags, sportswear and tailored clothing founded on the aesthetic of simple, purposeful design. The Company also owns Adelington Design Group, a private brand jewelry design and development group. Visit www.katespadeandcompany.com for more information.

MONTREAL, QUEBEC – Nov. 14, 2016 – Gildan Activewear Inc. (TSX:GIL)(NYSE:GIL) today announced that it has entered into an asset purchase agreement (APA) to acquire the worldwide intellectual property rights related to the American Apparel® brand and certain assets from American Apparel, LLC, (American Apparel), a U.S.-based manufacturer of fashion basics, for a cash purchase price of approximately $66 million. Gildan will also separately purchase inventory from American Apparel to ensure a seamless supply of goods in the printwear channel while the Company integrates the brand within its Printwear business. Gildan will not be purchasing any retail store assets. The closing of the transaction is subject to approvals by the American Apparel bankruptcy process and customary conditions, and is expected to occur during the first quarter of 2017.

The American Apparel® brand is a highly recognized brand among consumers and within the North American printwear channel. The American Apparel® brand would represent a strong complementary addition to the Company’s portfolio of brands. The acquisition will create revenue growth opportunities by leveraging Gildan’s extensive distribution network in North American and international printwear markets to further increase the brand’s penetration in the faster growing fashion basics segments of these markets. In addition, with American Apparel®’s strong heritage as a consumer brand, the Company will evaluate potential wholesale opportunities for leveraging the brand within its Branded Apparel business.

American Apparel voluntarily filed for Chapter 11 bankruptcy protection on November 14, 2016. The Bankruptcy Court may require American Apparel to hold an auction for its assets and business under which the proposed acquisition would constitute the initial bid. Consummation of the acquisition would be subject to Gildan being selected as the successful bidder in any such auction and Bankruptcy Court approval. Gildan will be entitled to a break-up fee and certain expense reimbursements if it does not prevail as the successful bidder at any such auction.

About Gildan
Gildan is a leading manufacturer and marketer of quality branded basic family apparel, including T-shirts, fleece, sport shirts, underwear, socks, hosiery, and shapewear. The Company sells its products under a diversified portfolio of company-owned brands, including the Gildan®, Gold Toe®, Anvil®, Comfort Colors®, Alstyle®, Secret®, Silks®, Kushyfoot®, Secret Silky®, Peds®, MediPeds® and Therapy Plus™ brands. Sock products are also distributed through the Company’s exclusive U.S. sock license for the Under Armour® brand, and a wide array of products is also marketed through a global license for the Mossy Oak® brand. The Company sells its products through two primary channels of distribution, namely printwear and retail markets. The Company distributes its products in printwear markets in the U.S., Canada, Europe, Asia-Pacific, and Latin America. In retail markets, the Company sells its products to a broad spectrum of retailers primarily in the U.S. and Canada and also manufactures for select leading global athletic and lifestyle consumer brands.

Gildan owns and operates vertically-integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean Basin, North America, and Bangladesh. These facilities are strategically located to efficiently service the quick replenishment needs of its customers in the printwear and retail markets. Gildan has over 48,000 employees worldwide and is committed to industry-leading labour and environmental practices throughout the Company’s supply chain. More information about the Company and its corporate citizenship practices and initiatives can be found at www.gildan.com and www.genuinegildan.com, respectively.

NEW YORK and BEAVERTON, Ore. – Funds affiliated with Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) and NIKE, Inc. (NYSE: NKE) today announced that Nike and affiliates of Apollo have entered into a strategic partnership regarding the
apparel supply chain in the Americas. This innovative strategic partnership will increase regional manufacturing capabilities, enable quicker delivery of more customized product to consumers, and drive investment in sustainability.

To establish the strategic partnership, a new apparel supply chain company has acquired existing apparel suppliers in North and Central America and plans to invest in advancing their manufacturing operations and expertise to produce innovative, technical and customized apparel. In addition, this new company expects to acquire additional textile and apparel suppliers in the Americas in order to broaden and diversify its capabilities and product offerings. This will create a more vertically-integrated apparel ecosystem – from materials suppliers and apparel manufacturers, to final
embellishment, warehousing and logistics.

“We are excited to be working with Apollo to rethink a new supply chain model to revolutionize apparel manufacturing in the Americas,” said Nike Chief Operating Officer, Eric Sprunk. “The new company, under Apollo’s leadership, is committed to embedding sustainability and transparency into the business, investing in new technology, vertically integrating critical elements of the supply chain and delivering the best Nike
performance product to our retail and sports partners.”

Josh Harris, Co-Founder and Senior Managing Director of Apollo, said, “We see a tremendous opportunity to meet the rising demand for responsive apparel manufacturing to serve increasing consumer expectations for products delivered when and where they want them. We intend to work with management to develop a regional supplier capable of servicing the needs of a wide variety of customers, and we are particularly enthusiastic to be working with such an iconic brand as Nike. While Nike has not made a capital investment in the company, this strategic partnership is a testament
to Nike’s commitment to increasing regional manufacturing capabilities, driving investment in innovation and creating long-term growth.”

While terms of the agreements were not disclosed, Apollo today announced the new supply chain company has acquired two businesses to form the cornerstone of this strategy: the apparel manufacturer, New Holland; and the embellishment, warehousing and logistics operator, ArtFX. The investment is made by the Apollo-managed Special Situations I fund.

About NIKE, Inc.
NIKE, Inc., based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned NIKE, Inc. subsidiary brands include Converse, which designs, distributes and licenses casual sneakers, apparel and accessories; and Hurley, which designs and distributes a line of action sports and youth lifestyle apparel and accessories. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.NIKE.com and individuals can follow @NIKE.

About Apollo Global Management LLC
Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $186 billion as of June 30, 2016 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about
Apollo, please visit www.agm.com.

MENOMONEE FALLS, Wis., – Kohl’s (NYSE: KSS) today announced a new partnership with Under Armour
(NYSE: UA), the originator of performance footwear, apparel and equipment, furthering Kohl’s commitment to becoming the
active and wellness destination for families.

“I am absolutely thrilled to announce our new partnership with Under Armour. This is a memorable and significant moment for
Kohl’s as we bring this incredible brand to our customers nationwide,” said Michelle Gass, Kohl’s chief merchandising and
customer officer. “We greatly admire what Under Armour has accomplished in creating a powerful and successful brand that has
really changed the Active industry. This brand launch builds on other notable investments we’ve already made in our Active
business. We believe Kohl’s is uniquely positioned to celebrate the athletes and wellness enthusiasts in every family.”

Since 2014, Kohl’s has made a sizable investment in the active and wellness category enhancing and expanding key national
and private brands, acquiring new, notable brands and partners, and providing customers with an expanded assortment of
products for the entire family.

Under Armour will be available at Kohl’s stores nationwide and Kohls.com in early 2017 in women’s, men’s, kids, accessories,
footwear and home.

About Kohl’s
Kohl’s (NYSE: KSS) is a leading specialty department store with more than 1,100 stores in 49 states. With a commitment to
inspiring and empowering families to lead fulfilled lives, the company offers amazing national and exclusive brands, incredible
savings and inspiring shopping experiences in-store, online at Kohls.com and via mobile devices. Committed to its communities,
Kohl’s has raised nearly $300 million for children’s initiatives nationwide through its Kohl’s Cares® cause merchandise program,
which operates under Kohl’s Cares, LLC, a wholly-owned subsidiary of Kohl’s Department Stores, Inc. For additional information
about Kohl’s philanthropic and environmental initiatives, visit http://www.Kohls.com/Cares. For a list of store locations and
information, or for the added convenience of shopping online, visit www.Kohls.com.

About Under Armour, Inc.
Under Armour (NYSE: UA), the originator of performance footwear, apparel and equipment, revolutionized how athletes across
the world dress. Designed to make all athletes better, the brand’s innovative products are sold worldwide to athletes at all
levels. The Under Armour Connected Fitness™ platform powers the world’s largest digital health and fitness community through
a suite of applications: UA Record, MapMyFitness, Endomondo and MyFitnessPal. The Under Armour global headquarters is
in Baltimore, Maryland. For further information, please visit the Company’s website at www.uabiz.com.

NIKE, Inc. announced today that it will accelerate innovation in its Golf footwear and apparel business and will partner with more of the world’s best golfers. With this new focus, Nike Golf will transition out of equipment — including clubs, balls and bags.

“We’re committed to being the undisputed leader in golf footwear and apparel,” says Trevor Edwards, President, Nike Brand. “We will achieve this by investing in performance innovation for athletes and delivering sustainable profitable growth for Nike Golf.”

“Athletes like Tiger, Rory and Michelle drive tremendous energy for the game and inspire consumers worldwide,” says Daric Ashford, President of Nike Golf. “Over the past year the MM Fly Blade Polo, the Flyknit Chukka and Air Zoom 90 have all connected strongly with golfers. We’ll continue to ignite excitement with our athletes and deliver the best of Nike for the game.”

When I was 20, living in my mom’s house, the new sound of hip hop was breaking out from the streets to the stores. Records were flying off the shelves, and although my community was underserved in resource, we were rich with hustle. I knew it was time for a brand that represented this rise and movement — a brand that was “For Us By Us.”

But I was broke with no guidance on how to make my dream a reality. So I started sewing and stitching at night. I made forty hats-and my brand FUBU was born. At the time, I didn’t know how to access capital or source material. I didn’t know how to build a business.

So I got my neighbor, L.L. Cool J, to take a photo wearing a FUBU hat. I spent my last dollars mailing that photo to trade buyers. It was my big break. Suddenly, every major music artist was begging to wear my swag and I amassed over $300,000 in orders. To meet demand, my three partners and I transformed my childhood home into a full-on clothing factory. I learned to exercise what I call “The Power of Broke.” By harnessing that power and that drive, I managed to turn FUBU into a multi-billion dollar iconic brand.

The challenges I faced and the journey I took mirror the potential of millions of young entrepreneurs here and around the world. They have the drive and spirit to imagine, innovate, and create-but we must all come together in order to keep lifting them up.

That’s why, in 2015, I became a Presidential Ambassador for Global Entrepreneurship (PAGE), working with the White House to develop the next generation of entrepreneurs across the globe, providing opportunities and pathways to capital and skills, and helping to inspire success in others.

This year I am proud to travel with President Obama to the seventh annual Global Entrepreneurship Summit (GES) at Stanford University. With over 700 entrepreneurs from 170 countries and 350 investors in attendance, we’re bringing the world to Silicon Valley and Silicon Valley to the world.

I’m excited to meet people like Sumana Shrestha, who started Medication for Nepal, an organization that uses technology to tackle inefficiencies and high health care costs, ensuring medical access for the most vulnerable populations in her country. And Evans Wadongo from Kenya, the co-founder of GreenWize Energy, which is advancing cutting edge African-designed renewable energy products and solutions in Sub-Saharan Africa.

I hope you’ll join me in watching the President’s remarks at this year’s Global Entrepreneurship Summit.

Thanks,

Daymond John, the founder of FUBU and Presidential Ambassador for Global Entrepreneurship, writes about his journey as an entrepreneur.

NEW YORK – Revlon, Inc. (NYSE: REV) and Elizabeth Arden, Inc. (NASDAQ: RDEN) today announced that they have signed a definitive agreement under which Revlon will acquire all of the outstanding shares of Elizabeth Arden for $14.00 per share in cash, representing an enterprise value for Elizabeth Arden of approximately $870 million.

By bringing together two highly complementary, iconic brand portfolios, Revlon will benefit from greater scale, an expanded global footprint, and a significant presence across all major beauty channels and categories, including the addition of Elizabeth Arden’s growing prestige skin care, color cosmetics and fragrances. The combination will leverage Revlon’s scale across major vendors and manufacturing partners, improving distribution and procurement. Cost synergies of approximately $140 million are expected to be achieved through the elimination of duplicative activities, leveraging purchasing scale, and optimizing the manufacturing and distribution networks of the combined company. The companies anticipate that they will achieve additional growth opportunities in both sales channels and geographies.

STRATEGIC BENEFITS
• Expanded Category Mix: Revlon’s strength and expertise in color cosmetics, hair care, men’s grooming, antiperspirants, deodorants and beauty tools will be complemented by the addition of Elizabeth Arden’s world-class portfolio of licensed prestige fragrances and the internationally recognized line of Elizabeth Arden-branded prestige skin care, color cosmetics and fragrance products, highly profitable categories that are key to future industry growth.

• Channel Diversification: Elizabeth Arden’s strong global reach in prestige distribution and travel retail will complement Revlon’s strength in mass and salons, strongly positioning the combined company in all key beauty channels.

• Broader Geographic Footprint: Revlon currently sells its products in approximately 130 countries. With Elizabeth Arden’s presence in important international growth regions, including Asia Pacific, the combined company will be better positioned to compete globally. Fabian Garcia, President and Chief Executive Officer of Revlon, Inc., said: “This acquisition is strategically and financially compelling. Elizabeth Arden and Revlon are both known for their iconic brands, entrepreneurial spirit and commitment to innovation, quality and excellence. Revlon plans to build upon Elizabeth Arden’s ongoing transformation by further enhancing the brand, with even more vibrant and relevant product development and marketing, while carefully preserving its unique heritage within prestige. Combining our brands, talent, and global distribution will give our company a significant presence in all major channels and categories, while accelerating sales growth in existing and new geographic regions. We look forward to bringing together our two top-notch teams to form a global leader in beauty.”

E. Scott Beattie, Chairman, President and Chief Executive Officer of Elizabeth Arden, said: “We believe this is a compelling transaction that delivers certain value to our shareholders, while recognizing the unique equity in the Elizabeth Arden brand, our impressive fragrance portfolio and global footprint, as well as the positive momentum and growth potential for our business. We look forward to working with the Revlon leadership team to create a leading global beauty company, able to provide accelerated growth for the Elizabeth Arden-branded products as well as our prestige licensed fragrance portfolio, and broader opportunities for many of our employees.”

TRANSACTION DETAILS
Under the terms of the agreement, Revlon will acquire all of the outstanding shares of Elizabeth Arden for $14.00 per share in cash, which represents a 50% premium over Elizabeth Arden’s closing share price of $9.31 on June 16, 2016. The transaction, including repayment of Elizabeth Arden debt and preferred stock, implies an enterprise value for Elizabeth Arden of approximately $870 million.

BofA Merrill Lynch and Citigroup Global Markets Inc. have committed approximately $2.6 billion of financing to fund the acquisition and refinance Elizabeth Arden’s existing debt, as well as Revlon’s existing bank term loan and revolving credit facility. Revlon’s existing senior notes will remain outstanding. Assuming full realization of expected multi-year synergies and cost reductions of approximately $140 million, Revlon expects pro forma leverage will be approximately 4.2x Net Debt/Adjusted EBITDA by the end of 2016. The combined company will be well positioned to de-lever based on its anticipated strong cash flow.

Scott Beattie is committed to executing on Elizabeth Arden’s business plans and it is expected that he will join Revlon’s Board of Directors as non-executive Vice Chairman. He will also serve as a senior advisor to Fabian Garcia, Revlon’s President and CEO, to ensure a successful integration and transition. The transaction has been unanimously approved by both Revlon’s and Elizabeth Arden’s Boards of Directors. Rhone Capital LLC, which holds approximately 14% of Elizabeth Arden’s outstanding shares of common stock and 20% of Elizabeth Arden’s voting interests, and Mr. Beattie, who holds approximately 4% of Elizabeth Arden’s outstanding shares of common stock, have signed voting agreements in support of the transaction. Revlon and Elizabeth Arden expect the transaction, which is subject to approval by Elizabeth Arden’s shareholders and regulatory clearances, as well as the
satisfaction of customary closing conditions, to close by the end of 2016.

GUIDANCE
In recent quarters, Revlon has enjoyed top-line growth while maintaining a highly competitive Adjusted EBITDA margin and generating significant free cash flow. For 2016, on a standalone constant currency basis, without taking into account the pending acquisition, Revlon expects to generate net sales between $2.0 billion and $2.1 billion, implying a high single-digit growth rate, and between $400 million and $420 million in Adjusted EBITDA. For the 12 months ending December 31, 2016, the combined company would be expected to have annualized net sales of approximately $3 billion. Assuming full realization of approximately $140 million of expected multi-year synergies and cost reductions, Adjusted EBITDA for the combined company would be approximately $560 million.

ABOUT REVLON
Revlon is a global beauty company that provides a range of cosmetics, hair color, hair care and hair treatments, beauty tools, men’s grooming products, antiperspirant deodorants, fragrances, skin care, and other beauty care products. Revlon’s Consumer segment global brand portfolio includes Revlon® color cosmetics, Almay® color cosmetics, SinfulColors® color cosmetics, Pure Ice® color cosmetics, Revlon ColorSilk® hair color, Revlon® Beauty Tools, Charlie® fragrances, and Mitchum® antiperspirant deodorants. Revlon’s Professional segment global brand portfolio includes: Revlon Professional®, CND®, including CND’s Shellac® brand 14+ day nail color and Vinylux® weekly nail polish, and American Crew® men’s grooming products. Websites featuring current product and promotional information can be reached at www.revlon.com, www.almay.com, www.mitchum.com,
www.revlonprofessional.com, www.americancrew.com and www.cnd.com.

ABOUT ELIZABETH ARDEN
Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company’s brand portfolio includes Elizabeth Arden skin care, color and fragrance products; its professional skin care line, Elizabeth Arden PRO; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; the heritage fragrance brands of Britney Spears, White Diamonds Elizabeth Taylor, Curve, Giorgio Beverly Hills, Ed Hardy, Jennifer Aniston, Lucky Brand, Paul Sebastian, Halston, Geoffrey Beene, Rocawear, Alfred Sung, White Shoulders and BCBGMAXAZRIA; and the celebrity fragrance brands of Taylor Swift, Nicki Minaj, Mariah Carey and Justin Bieber.

NEW YORK, Elizabeth Arden, Inc. (NASDAQ: RDEN), a global prestige beauty products company, announced today that it has signed an agreement to acquire the global license and certain related assets for the Christina Aguilera fragrance business from Procter & Gamble International.

Internationally acclaimed superstar recording artist Christina Aguilera introduced her first fragrance in 2007. Today her fragrances command a global reach and have seven brands. In addition to being the No. 1 celebrity fragrance brand in Europe, it stands as the most awarded celebrity fragrance brand in this region.

“We are tremendously excited with our agreement to acquire the Christina Aguilera fragrance license,” said George Cleary, President Global Fragrances at Elizabeth Arden. “This stellar brand is one with a global footprint and a significant international presence in Europe. This acquisition is consistent with our strategy to acquire brands to grow our fragrance business on a global basis, and we look forward to working with Christina to advance the success of this luxury, longstanding fragrance brand.”

Christina Aguilera said, “I really enjoy developing my fragrances and I am excited to continue the process with Elizabeth Arden. Their commitment to creating fragrances is important to me and I know they will do a great job helping me deliver top quality product to my fans.”

Terms of the transaction were not disclosed. The transaction is expected to close in the first quarter of fiscal 2017 and is subject to customary regulatory approvals.

Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 120 countries. The Company’s brand portfolio includes Elizabeth Arden skincare, color and fragrance products; its professional skincare line, Elizabeth Arden PRO; the designer fragrance brands of Juicy Couture, John Varvatos and Wildfox Couture; the heritage fragrance brands of Britney Spears, White Diamonds Elizabeth Taylor, Curve, Giorgio Beverly Hills, Ed Hardy, Jennifer Aniston, Lucky Brand, Paul Sebastian, Halston, Geoffrey Beene, Rocawear, Alfred Sung, White Shoulders and BCBGMAXAZRIA; and the celebrity fragrance brands of Taylor Swift, Nicki Minaj, Mariah Carey and Justin Bieber.

Cadillac and the Council of Fashion Designers of America (CFDA) announced the launch of the Retail Lab, an innovative program providing tangible value to designers who are driving the fashion industry forward. The main component of Retail Lab will be a custom retail shop located on the ground floor of Cadillac’s global headquarters in New York. Participating designers, selected through a competitive application process, will gain valuable retail experience under the tutelage of fashion industry experts.

Six designers will be part of the 2016/2017 term, each opening their respective retail shop for three months while under the mentorship program. The inaugural fashion designer is Timo Weiland, whose shop will open to the public in early July.

Since Timo Weiland launched the brand with Alan Eckstein and Donna Kang in 2010, the collection, which is built around the ethos of clothes to live in, has developed a following with celebrities like Kerry Washington, Elizabeth Banks, Elijah Wood, and Andrew Garfield.

“Our ongoing partnership with the CFDA represents Cadillac’s unwavering commitment to the fashion community and its growth,” said Melody Lee, Director, Brand Strategy & Planning at Cadillac. “Retail Lab will give designers a space in the heart of Cadillac’s headquarters, along with the tools, training and inspiration to take their business to the next level.”

The Retail Lab program is funded by Cadillac and features key elements integral to success in retail, including business development, marketing and PR. In addition to covering costs associated with a retail space, such as real estate, display units, mannequins, signage and point of sale system, Cadillac will provide each designer with a $75,000 grant to put towards wholesale buys, sales support and marketing.

The CFDA and Cadillac have assembled a team of experts across fashion, retail, business and technology to comprise the Advisory Board, who will curate the program curriculum, develop a Retail Lab handbook and provide valuable mentorship guidance throughout. The Advisory Board consists of Billy Reid; Bobby Schuessler, Who What Wear; Darcy Penick, Shopbop /East Dane; Jan-Hendrik Schlottmann, Derek Lam; Jay Silver, CBiz; Josh Peskowitz, Magasin; Julie Gilhart; Kelli Adams, Redscout; Liz Rodbell, Hudson Bay Company; Marigay McKee, MM Luxe Consulting; Matt Marcotte; Melody Lee, Cadillac; Rachel Besser, Market Editor, Refinery29; Rachel Shechtman, STORY; Reed Krakoff; Robin Kramer, Kramer Design Group; Robin Zendell, Robin Zendell LLC; Simon Doonan, Barneys New York; Stacey Bendet Eisner, Alice + Olivia, and Steven Alan.

“The CFDA is always looking for meaningful programs that help strengthen the impact of American Fashion,” said Steven Kolb, President and CEO of the CFDA. “Every designer aspires to a freestanding retail experience that allows them to tell their brand story and connect directly with consumers. Cadillac’s commitment to the industry will help the selected designers make this a reality.”

The Retail Lab application process will be open from April 6th through May 6th. Five designers will be chosen by the Advisory Board and announced at the end of May for the 2016/2017 term. Eligible designer will need to meet the following criteria:

Must be 18 years of age or older
Be American or have established a primary design business in the United States
Be in business for a minimum of 3 years
Be a designer of demonstrable talent, i.e. have garnered substantial editorial coverage
Have support (orders) from notable wholesale retailers
Be able to demonstrate sales growth during their time in business
Does not have current stand-alone retail location
Be able to occupy the Retail Lab space for a maximum of 3 months, inclusive of producing and providing inventory for the store
Open to womenswear, menswear, or accessory designers
Open to both CFDA and non-CFDA members
###

ABOUT CADILLAC
Cadillac has been a leading luxury auto brand since 1902. Today Cadillac is growing globally, driven by an expanding product portfolio featuring distinctive design and technology. More information on Cadillac appears at www.cadillac.com. Cadillac’s media website with information, images and video can be found at media.cadillac.com.

ABOUT THE CFDA
The Council of Fashion Designers of America, Inc, (CFDA) was founded in 1962 and aims to strengthen the impact of American Fashion in the global economy. In addition to hosting the CFDA Fashion Awards, the organization owns the Fashion Calendar and stages the bi-annual New York Fashion Week: Men’s. Other initiatives include the CFDA {Fashion Incubator} and the CFDA/Vogue Fashion Fund as well as several Scholarship and charitable programs. For more information, please visit www.CFDA.com, facebook.com/cfda, twitter.com/cfda, cfda.tumblr.com, and youtube.com/cfdatv.

ABOUT TIMO WEILAND
Co-founded in 2010 by Timo Weiland, Alan Eckstein and Donna Kang, Timo Weiland is a New York based Womens and Menswear brand. Built around the ethos of creating clothes to live in, the collections are inspired by the multifaceted lifestyles of the designers and those around them. Drawing from a shared love of music, travel and contemporary culture, Timo Weiland presents an updated take on classic American sensibilities. Known for eclectic combinations of fabrics and detailing, the collection places focus on quality and wearability, while injecting touches of the designers’ distinct brand of playfulness. Modern prep meets streetwear, with a touch of romance, the brand encompasses the adventurous spirit of New York City.

SEATTLE- (NASDAQ: AMZN) — Amazon today announced the premiere of its first daily, live show, Style Code Live. The show is dedicated to fashion and beauty, featuring useful tips from style experts and viewers, looks the audience can easily shop, and an interactive viewing experience that includes live chat. Style Code Live is a 30-minute show, free to all viewers, and streams weeknights at 9 ET/6 PT at www.amazon.com/stylecodelive. Viewers can also follow Style Code Live for show updates on Instagram, Facebook, Twitter, and Snapchat (StyleCodeLive).

The Style Code Live team is led by hosts Lyndsey Rodrigues, Rachel Smith, and Frankie Grande. Together they bring three unique styles—and one shared style-obsession. Lyndsey has hosted shows including MTV’s Total Request Live and has interviewed a range of film and music stars. Her style code is edgy yet totally approachable. She is influenced by NYC, where there is no wrong answer in fashion. Rachel is a correspondent at ABC News for Good Morning America and Nightline. Her style code is classic and feminine—though she admits to loving a gutsy look and spending her weekends in harem pants. Frankie is a television personality and theatre actor. He is best known for his appearance on CBS’s Big Brother 16 and his role in Rock of Ages on Broadway. His style code is glam—inspiring people to step out of the background and into the spotlight.

“I’m so thrilled to be a part of Style Code Live. Live TV is my greatest passion, and to be able to work on such an original and interactive show really is a dream come true,” said host Lyndsey Rodrigues. “Bring on the live premiere!”

“Our customers love fashion, and have wanted a place to keep up with new trends and get expert tips. We created Style Code Live for them, and we are just getting started with this show,” said Munira Rahemtulla, head of Style Code Live. “The team can’t wait for tonight’s premiere—come watch with us at 9 p.m. Eastern.”

“Style Code Live gives viewers a first-of-its-kind daily style and entertainment experience. We’re live, interactive, and covering the latest trends in fashion and beauty each weeknight—with guest experts, celebrities, and viewer tips,” added Terence Noonan, Style Code Live’s Executive Producer. “We are building a community and are super excited for our viewers to be part of it.”

On tonight’s live premiere, guest Danielle Bernstein, founder of fashion blog WeWoreWhat, shares her top three must-haves for spring. Also this week Grammy winner Meghan Trainor talks fashion and beauty and shares the inside scoop on her new single “No,” Frankie talks with actress Keri Russell on the red carpet of her TV series premiere, and YouTube star Tati Westbrook reveals her beauty pick of the week.

“I am absolutely thrilled to be on this new adventure hosting Style Code Live! It’s been exciting cultivating the show’s fresh take on programming and the viewing experience,” said host Rachel Smith. “Anyone who loves fashion and beauty can watch, weigh-in on the conversation, and take away something valuable.”

Every weeknight the Style Code Live team and expert guests will help viewers discover products to achieve the looks they want. They will style and model on-trend looks such as print mixing, debate style do’s-and-don’ts, and share beauty hacks like how to use a bold red lipstick as concealer.

Style Code Live has interactive features which involve the audience in every live show. Examples include:

Live Chat: The audience can join the Style Code Live conversation via live chat at any time during the show, ask questions, and share their own perspectives and tips.
Style Carousel: A Style Carousel directly under the Style Code Live player dynamically updates to highlight products available on Amazon as they are featured in the show.
Style Links: A running list of links captures products and topics discussed, including those that viewers can find off of Amazon.
Chat Host: Our show hosts will participate in live chat, chiming in frequently to respond to viewer questions and comments.
Style Code Love Bag: Viewers can click on the Style Code Love Bag to “applaud” segments and products throughout the show. They’ll see the bag fill as viewers click and release virtual confetti once it’s full.
“I am BEYOND excited about Style Code Live! It is a fun, informative, and energetic show where we will be able to interact with our audience in ways never done before,” said host Frankie Grande. “I am very proud to be a part of it!”

Style Code Live streams live Monday through Thursday at 9 PT/6 ET, with a “best of” show on Friday. Today viewers can watch on their computers at www.amazon.com/stylecodelive, with mobile coming soon. Anyone can follow Style Code Live via Instagram (@StyleCodeLive), Facebook (www.facebook.com/StyleCodeLive), Snapchat (StyleCodeLive), and Twitter (@StyleCodeLive), and subscribe to receive Style Code Live email notifications.

About Style Code Live
Style Code Live – Amazon’s first daily, live show – is dedicated to fashion and beauty, featuring useful tips from style experts and viewers, looks the audience can easily shop, and an interactive viewing experience that includes live chat. The show is free to all viewers and streams live Monday through Thursday at 9 p.m. ET/6 p.m. PT, with a “best of” show on Friday. Viewers can watch on their computers, with mobile coming soon. To follow the show via Instagram, Facebook, Twitter, and Snapchat (StyleCodeLive), and sign up to receive email notifications with Style Code Live news, visit www.amazon.com/stylecodelive.

About Amazon
Amazon.com opened on the World Wide Web in July 1995. The company is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about.

NEW YORK– The Estée Lauder Companies Inc. (NYSE:EL) announced today that it has acquired By Kilian, the Paris-based prestige fragrance brand that embodies timeless sophistication and modern luxury. Terms of the deal were not disclosed.

Founded in 2007 by Kilian Hennessy, By Kilian has built a passionate global following with its distinctive emphasis on sensuous olfactive storytelling. Sold in more than 40 countries worldwide – primarily in North America, Europe and the Middle East – through immersive freestanding stores, select prestige department stores and perfumeries, By Kilian offers an exclusive “wardrobe” of scents that reflect Mr. Hennessy’s deep-rooted legacy of luxury and creativity. By Kilian’s current product offerings include fragrances, candles and other accessories, as well as exclusive collections available in certain regions. Elements of the brand’s packaging – including perfume bottles and candle holders – are meant to be kept as keepsakes, which is reflective of Kilian’s philosophy that true luxury should not be disposable.

“By Kilian is a perfect complement to our portfolio of prestige fragrances,” said Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder Companies Inc. “Kilian has built a beautiful and sumptuous brand that elevates the art of perfume creation with elegance and uncompromising luxury. This acquisition gives our Company a strategic opportunity to continue to build upon our leadership in ultra-luxury fragrances. We are very excited to work closely with Kilian and the entire By Kilian team to continue building on the brand’s terrific success.”

“I could not imagine a better home for my brand,” said By Kilian founder and CEO Kilian Hennessy. “The Estée Lauder Companies not only understands the philosophy behind By Kilian – which is to bring perfumery back to the level of luxury that it enjoyed in the early 20th century – but also has the resources and support to help By Kilian continue to strategically grow by category, region and distribution. The Company has an incredible track record of nurturing entrepreneurial brands, and I’m thrilled to be partnering with them.”

“Kilian’s heritage of sophistication and luxury is a terrific match for The Estée Lauder Companies,” said William P. Lauder, Executive Chairman, The Estée Lauder Companies Inc. “One of our leading strengths is the ability to identify brands with unique positioning and nurture them to realize their full growth potential. We are so pleased to partner with Kilian to continue this legacy, and we welcome him and his team to our family.”

John Demsey, Executive Group President, The Estée Lauder Companies Inc., will add By Kilian to his portfolio, while continuing to oversee Clinique, M·A·C Cosmetics, Tom Ford Beauty, Prescriptives, Bobbi Brown, Jo Malone London, Smashbox, Aramis & Designer Fragrances, the Men’s Skincare Group, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW.

In this transaction, BNP Paribas served as financial advisor to The Estée Lauder Companies Inc., while Lowenstein Sandler LLP, Wragge Lawrence Graham & Co. LLP and Arendt & Medernach served as legal counsel. By Kilian received financial advice from Michel Dyens & Co. and legal counsel from Skadden, Arps, Slate, Meagher and Flom LLP and CMS Bureau Francis Lefebvre.

The forward-looking statements in this press release, including those in the quoted remarks and those relating to the expectations for the acquired brand and the benefits of the acquisition, involve risks and uncertainties. Factors that could cause actual results to differ materially from those forward-looking statements include current economic and other conditions in the global marketplace, actions by retailers, suppliers and consumers, competition, the Company’s ability to successfully integrate the acquired business and/or implement its long-term strategic plan, and those described in the Company’s annual report on Form 10-K for the year ended June 30, 2015.

About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M·A·C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, Marni, Tory Burch, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW and By Kilian.

For over half a decade, Jun Takahashi, founder of the apparel brand Undercover, has comfortably worn three hats — that of a runner, designer and Nike collaborator, consulting on the NikeLab x Undercover Gyakusou collection. It is a rare fusion, explains NikeLab Senior Design Director Jarrett Reynolds.

“Jun is a real runner,“ Reynolds elaborates. “I’ll sit down and ask him how he‘s been running, what has changed, what‘s working and what‘s not. I’m able to get insight that could only come from him because he has an insane eye for design and is a passionate runner.“

This confluence means that after 12 collections, NikeLab and Takahashi are still tackling new challenges by blending Nike innovation with Takahashi‘s ever-evolving running insights and signature aesthetic.

For Spring 2016, they dig into weather and temperature, be it that of the environment or the runner, with data-informed placement of water-resistant materials and pockets that allow for quick and efficient storage of outer layers. The latest offering also features silhouettes designed for both men and women.

NIKELAB GYAKUSOU LUNAREPIC FLYKNIT
A unique take on the latest Nike Running footwear innovation, the NikeLab Gyakusou LunarEpic Flyknit features a mid-height collar for a locked-down fit and a contoured Lunarlon midsole with articulated laser cuts for a smooth transition from heel to toe. The laser-cut pods on the outsole aim to enhance cushioning and offer multi-surface traction.

SAN FRANCISCO – As a strategic investment to foster cleaner global business, Gap Inc. (NYSE: GPS) today announced an ambitious new goal to reduce absolute greenhouse gas (GHG) emissions across all owned and operated facilities globally by 50 percent from 2015 levels by the end of 2020. With this new emissions target, Gap Inc. joins the international effort to tackle climate change, building upon the momentum of the landmark Paris Agreement reached last month by the 2015 United Nations climate change summit, COP 21.

Gap Inc.’s new climate goal was announced as part of the company’s most recent Global Sustainability report, “Our Futures are Woven Together,” which outlines the company’s steadfast commitment to protect human rights and improve working conditions in garment factories across the company’s supply chain; to advocate for greater equality and opportunity across its global enterprise; and to change the lives of one million women through P.A.C.E., its award-winning women’s life skills education program by 2020.

Recognizing Gap Inc.’s commitment to equality, inclusion and diversity, the leading nonprofit Catalyst announced today that Gap Inc. would be presented with the prestigious 2016 Catalyst Award at their annual awards dinner on March 16.

CEO Art Peck opens the new report, reflecting on the social and environmental challenges collectively faced by Gap Inc. and the people touched by its business, as well as on the opportunities and promise that lie ahead. “Change is not just possible, but imperative – our futures are tied together and we can’t afford not to act,” Peck writes.

“At Gap Inc., we believe that environmental issues are fundamentally human rights issues. We also believe that creating a more sustainable environment is critical to our company’s business success,” said Melissa Fifield, Senior Director of Sustainable Innovation at Gap Inc. “As we look to integrate our sustainability efforts more deeply into our business strategies and policies, we recognize the potential to create tremendous positive change for the people touched by our business while unlocking new possibilities to grow our global enterprise. We recognize that much work lies ahead of us, but we remain steadfast in our commitment to help ensure the safety and well-being of the people who make our clothes, to advocate for greater equality, and to foster more sustainable communities in the places we live and work.”

Gap Inc. has set its new emissions goal after having achieved its previous goal, which called for reducing absolute greenhouse gas emissions across U.S. operations from a 2008 baseline by 20 percent by the end of 2015; the company is reporting today a total of approximately 37 percent emissions reduction during the 2008-2015 timeframe. Gap Inc. today also announced a companion waste goal for its U.S. facilities to divert 80 percent of waste from landfill by the end of 2020.

“With our new environmental goals, we are stepping up to join the unprecedented global effort to tackle climate change and create a healthier, low-carbon future. As a global fashion company, we rely on the same vital resources that are critical to the health of the communities that support our business. We recognize that embedding our new emissions and waste goals into our company’s priorities and practices is not only the right thing to do, it will allow us to further drive innovation and cost savings across our business,” said Shawn Curran, Executive Vice President of Global Logistics at Gap Inc. and Executive Sponsor of Gap Inc.’s Environmental Council.

The new report details the company’s most recent sustainability initiatives, and covers data from fiscal years 2013-2014. Gap Inc. was one of the first apparel companies to issue a comprehensive social responsibility report in 2003, and the company continues to re-examine the progression of this work as it learns more about the root causes of the challenges across the global value chain and strives to identify, test and implement solutions that can help achieve even greater positive impacts.

Report highlights include:

Environment
Setting a goal to reduce absolute greenhouse gas emissions in our owned and operated facilities globally by 50 percent by the end of 2020
Committing to a goal of 80 percent waste diversion from landfill across our U.S. owned and operated facilities by the end of 2020
Working towards phasing out the use of hazardous chemicals in the making of our products by 2020, as a founding member of the Zero Discharge of Hazardous Chemicals group
Partnering with fabric mills to fight pollution and conserve water through our partnership with the Natural Resources Defense Council and the Sustainable Apparel Coalition
Providing access to clean water for 17,000 people in India through our new Women + Water program
Working Conditions

Consistently visiting the factories that make our clothes, about 1,000 factories each year, to assess and improve working conditions for garment workers
Expanding Gap Inc.’s P.A.C.E. (Personal Advancement & Career Enhancement) program, our signature, award-winning life skills education program, to more factories and communities to give one million women worldwide by 2020 the opportunity to gain the skills and confidence to change their lives
Improving the lives of the people who make our clothes and forging industry-wide change through innovative partnerships with leading organizations focused on improving workplace conditions and labor standards, such as Better Work and Verité
Equality and Opportunity

Establishing Gap Inc. as the first Fortune 500 Company to disclose that we pay our female and male employees equally for equal work across our global organization
Announcing plans in 2014 to raise the hourly minimum wage to $10 for more than 60,000 U.S. employees in 2015, making Gap Inc. one of the first U.S. retailers to make this investment in our frontline talent
Gap Inc. employees volunteered more than one million hours over 2013 and 2014; this new record was set with the support of more than 2,000 Community Leaders across the world, who lead a wide range of volunteering projects for their teams
Creating opportunities for more than 2,000 youth and young adults since 2006, by providing job training and store internships through our This Way Ahead program; our investments in nonprofit organizations have reached 270,000+ teens and young adults in the past three years
Standing up as a voice for marriage, racial and gender equality; in 2015, women made up more than 70 percent of our senior leadership, and we sponsored six employee resource groups to promote diversity and inclusion
Signing the Women’s Empowerment Principles, developed by UN Women and United Nations Global Compact to advance gender equality; one of the first acts by Art Peck as chief executive officer in February 2015
Receiving the 2016 Catalyst Award, a leading nonprofit organization with a mission to expand opportunities for women and business; Gap Inc. is being recognized for its commitment to equality, inclusion and diversity
To learn more, please visit gapinc.com/sustainability, where you can also download a copy of the report.

About Gap Inc.
Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brands. Fiscal year 2014 net sales were $16.4 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,300 company-operated stores, over 400 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.

PETALUMA, Calif. – Athleta announced it is launching a new girls’ clothing line called “Athleta Girl.” The collection, which will include both performance and lifestyle clothing, launches online and in select Athleta stores across the U.S. this summer.

According to NPD data, the women’s active wear category is continuing to grow at a fast pace, with overall sales increasing 20 percent to $19.6 billion in 2015*. A portion of this growth can be attributed to younger customers, including pre-teens and teens.

“Sporty is how girls are dressing today. Just like their moms, sisters, aunts and friends, they are living more active lives,” said Nancy Green, president, Athleta. “We see Athleta Girl as an opportunity to offer her clothes that are comfortable, stylish, high-quality, built to move and will perform for her.”

At launch, Athleta Girl product offerings will cover a range of sports, including running, soccer, dance, gymnastics and basketball as well as swim. It will also include an active lifestyle category with products that can transition throughout her entire day.

“Similar to our women’s line, we wanted to create pieces that are rooted in performance, but are versatile enough to be worn at any time in a girl’s day,” continued Green. “Her style is already all about sport, even if she’s not playing a sport. The collection will be the go-to pieces for her wardrobe.”

The line is for girls aged 6 to 14 years and will include key styles from Athleta’s women’s collection, including run shorts, capris and tops, along with new styles designed specifically for a younger customer.

The girls’ category is a natural fit for Athleta as the brand has been active in empowering both women and girls through fitness since its founding in 1998. In 2011, the brand became the national sponsor of Girls on the Run, a non-profit organization dedicated to helping girls build confidence through fitness.

“Athleta Girl is perfectly aligned with our brand mission and values,” said Elisabeth Charles, SVP of Marketing, Athleta. “Our mission is to ignite a community of active, healthy, confident women and girls who empower each other to realize their limitless potential. Our new girls’ clothing line allows us to encourage healthy, active lifestyles and instill a strong sense of confidence with the next generation of girls.”

In select stores, Athleta will create a unique shopping experience for its Athleta Girl customers with tailored bags, clothing tags and mannequins.

ABOUT ATHLETA
Athleta has been the premier fitness apparel brand exclusively for women since 1998. With female athletes as its designers, Athleta creates versatile and fashionable performance and lifestyle apparel for the fitness-minded woman who lives life on the go. Offering products that move with her throughout the day, Athleta strives to help her look as amazing as she feels. Athleta offers apparel and gear for a range of activities from yoga and spin to strength training and run as well as seasonal sports, including ski and tennis. Athleta apparel is sold in retail stores across the country and online at www.athleta.com.

Sir Philip Green said in a press release comment on company performance and plans: “We are pleased once again to report strong cash generation of £328m, against the background of the fast changing retail industry. The number of channels through which customers choose to purchase and engage with us continually evolves, thus increasing the complexity of our operations. Hence our continued investment in the business as our need for efficiency and speed to market is paramount.

Over the past year, we have continued to trade successfully in the UK across all brands, whilst expanding our operations internationally.

In the USA we opened 5 new TOPSHOP/TOPMAN wholly owned stores, bringing the total now to 9 – including the 40,000 sq ft flagship on the world renowned 5th Avenue in NYC. We also opened a 12,620 sq ft flagship in Amsterdam.

We have further developed our successful partnership with Nordstrom, consumer sales increasing strongly by +50% compared to last year, and now trading out of 94 TOPSHOP concessions and 85 TOPMAN concessions in addition to Nordstrom.com. We are in discussions to further develop additional space across both brands, as in the current year sales have continued to achieve double digit increases. This is an exciting partnership with significant further growth potential.

Our Digital Wholesale business has expanded rapidly, and our brands now feature on multiple partner web-sites overseas, with our relationship with Zalando growing strongly across all of our brands.
Taveta Investments Limited

We opened 34 new franchise outlets for TOPSHOP/TOPMAN and 45 across our other brands during the year. Notable openings were the first TOPSHOP/TOPMAN flagship store in Auckland (New Zealand), further TOPSHOP/TOPMAN stores in Perth, Sydney and Vancouver, Multi Brand openings in Yas Mall (UAE) and Cairo Festival City (Egypt).

The year ahead will see the product launch of our 50/50 joint venture company Parkwood Topshop Athletic Ltd, created in partnership with Beyonce to produce a global athletic street-wear brand in this rapidly growing area of the market. We are developing our distribution globally for the launch of this exciting new brand in Spring 2016.

In the UK we are testing a new format trading Dorothy Perkins, Burton and Evans brands with Tesco, opening 14 outlets in 5 Tesco stores, with very encouraging results to date.

We invested £118m of capital into the Group, and have committed a further £84m this year. We continue to invest heavily in new systems to support our international and multi-channel development, and to refurbish our Head Office to provide our employees with a dynamic and creative working environment.

We continue to review our property portfolio in the UK, given the number of leases due to expire. Over the last year we have lease expired 86 sites and 236,400 square feet of space. Our current UK store portfolio stands at 2,358.

In March we sold our BHS business to Retail Acquisitions Limited, to enable us to focus on the growth of our multiples Brand operation in the UK and Internationally, across the Retail, Digital and Franchise channels.

Tight stock management remains a priority across the Group, alongside an effective and well-audited supply chain. We remain passionate about delivering relevant, exciting and well-priced ranges – giving our customers constant newness of product and digital content.

In the first 10 weeks of this year total VAT inclusive LFL sales were down -2.3% versus last year.

I would like to thank all of the teams within Arcadia for their commitment, energy and enthusiasm, which has enabled us to deliver a robust performance in challenging times. I would also like to thank Leonard Green and Partners for their continued engagement and support. Finally, I would like to thank our customers for their continued loyalty in shopping with our brands across multiple channels.”

FRAMINGHAM, Mass.- The TJX Companies, Inc. (NYSE:TJX), the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, today announced that it has completed its acquisition of Trade Secret, an off-price retailer that operates 35 stores in Australia, from Gazal Corporation Limited (ASX: GZL) for a purchase price of AUD$80 million subject to customary post-closing adjustments. The acquisition of Trade Secret provides TJX an opportunistic entry into Australia, where TJX currently operates one of its 13 buying offices.

Trade Secret offers branded apparel for women, men and children, as well as footwear, accessories and home fashions at great values. Trade Secret stores are located in Queensland, New South Wales, Victoria, and the Capital Territory. Trade Secret opened its first store in 1992 and since then, has grown to over AUD$160 million in revenue for its fiscal year ended June 2015.

Carol Meyrowitz, Chairman and Chief Executive Officer of The TJX Companies, Inc., stated, “We are very pleased to add Trade Secret to the TJX family of companies, which fits directly into our clear vision for continued global growth. Trade Secret’s business is closely aligned with ours, and this acquisition provides us with immediate scale and first-mover advantages in Australia. We believe that, similar to our successful expansion in Canada, which started with our acquisition of Winners in 1990, we can further develop Trade Secret by leveraging our off-price leadership experience, global buying scale, vendor universe, marketing, and other capabilities. As one of the few major U.S. retailers to have expanded profitably in international markets, including Canada and Europe, we are very confident in our potential to grow successfully in our third continent and eighth country. We are delighted to welcome Trade Secret and its organization to TJX.”

About The TJX Companies, Inc.
The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. As of August 1, 2015, the end of the Company’s second quarter, the Company operated a total of 3,461 stores in seven countries, the United States, Canada, the United Kingdom, Ireland, Germany, Poland, and Austria, and three e-commerce sites. These include 1,130 T.J. Maxx, 990 Marshalls, 503 HomeGoods and 6 Sierra Trading Post stores, as well as tjmaxx.com and sierratradingpost.com in the United States; 240 Winners, 97 HomeSense, and 39 Marshalls stores in Canada; and 423 T.K. Maxx and 33 HomeSense stores, as well as tkmaxx.com, in Europe. TJX’s press releases and financial information are also available at tjx.com.

NEW YORK, Nov. 2, 2015– Coty Inc. (NYSE:COTY) announced today that it has entered into a definitive agreement to acquire the personal care and beauty business (the “Beauty Business”) of Hypermarcas S.A. (BM&FBovespa:HYPE3) for approximately $1.0 billion (R$3.8 billion) in cash. The transaction will be funded with a combination of cash on hand and available debt facilities.

The Beauty Business is a $253.5 million (R$977.5 million) net revenue business as of 2014, with an offering of brands that hold leading positions in the highly competitive Brazilian beauty and personal care market, which is the third largest in the world. Brands that Coty would acquire include:

Monange – a multi-category personal care brand (body care, hair care, female deodorant)
Risqué – the market leader in nail polish in Brazil
Bozzano – the market leader in men’s care in Brazil
Paixão – largest skin care brand in Brazil
Biocolor – a best-selling hair colorant in Brazil
The Beauty Business comprises state of the art manufacturing and distribution facilities in the state of Goias, with critical mass go to market capabilities complemented by a proven management team. As a result, it provides an excellent platform to integrate the existing small Coty business as well as the larger Procter & Gamble Specialty Beauty business in Brazil. The latter is expected to be merged into Coty in the second half of calendar 2016, subject to regulatory clearances and other customary closing conditions.

Bart Becht, Interim CEO and Chairman of Coty, commented: “We are excited to announce the acquisition of the Beauty Business of Hypermarcas, a leading beauty and personal care business in one of the world’s most important retail markets. We expect that the strength of the brands, the impressive leadership team and its robust infrastructure will enhance Coty’s competitive position and very much complement our contemplated merger with the P&G Specialty Beauty Business. Today’s announcement is another step in our progression towards creating a pure-play global leader and challenger in Beauty.”

The transaction is subject to regulatory clearances and other customary closing conditions. The transaction is expected to be closed in two stages by end of March 2016.

As a reminder, Coty will release fiscal 2016 first quarter financial results before the open of the U.S. equity markets on the morning of Thursday, November 5, 2015. On that date, at 9:00 a.m. ET, Coty will webcast live its conference call discussing its results, business outlook and recent corporate developments, including the Beauty Business acquisition. Bart Becht and Patrice de Talhouët, Executive Vice President and Chief Financial Officer, will host the call. Those wishing to access the webcast can do so at http://investors.coty.com. The webcast will also be archived on the website.

About Coty Inc.

Coty is a leading global beauty company with net revenues of $4.4 billion for the fiscal year ended June 30, 2015. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty’s product offerings include such leading power brands as Adidas, Calvin Klein, Chloé, DAVIDOFF, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.

For additional information about Coty Inc., please visit www.coty.com.

About Hypermarcas

Founded in 2001, Hypermarcas is Brazil’s national champion in pharmaceutical products. The company has 14% market share in units, ranking #1 in the market. It competes in all relevant segments of the sector, with leadership positioning in several of them.

The company is #1 in OTC drugs, with about 13% market share. It has leadership in segments such as flu symptoms, pain relief, antacids, among others. Its brands are widely traditional, established in the market for many years. In some cases, they are category icons, such as Benegrip, Engov, Rinosoro, Epocler, Estomazil, Atroveran, Alivium, Tamarine, among others.

In addition, the company is #1 in branded generics, with the Neo Química brand, which also ranks #3 in pure generics.

In RX drugs, the company has a portfolio of well-established brands in several markets, such as Predsim, Celestamine, Maxsulid, Diprospan, Mioflex-A. This segment is supported by a field team which visits more than 150,000 doctors monthly.

Hypermarcas also has leadership in other Consumer Health markets, such as #1 in condoms, with about 55% market share, under brands Jontex, Olla and Lovetex; #1 in nutritionals, with more than 50% market share, under brands Zero-Cal, Finn and Adocyl; #2 in dermocosmetics, sharing the leadership, under the Mantecorp Skincare brand.

The strength in the pharmaceutical market is based upon large-scale, low-cost operations, with one of the biggest drug manufacturing plants in the world. In addition, the company has robust distribution, both in the drugstore chains channel, as well as in traditional stores, reached by means of unique, exclusive distributors. This operating platform is supported by high marketing investments and an aggressive innovation policy, with continuous launches of new products.

For more information on Hypermarcas, please visit www.hypermarcas.com.br.