Karen Wazen jets over for NYFW

(Left: L-R) Leena Al-Ghouti, Nour Arida and Karen Wazen attend the Tory Burch show at the Smithsonian Design Museum. (Below) Models walk the runway for Tory Burch. (AFP)
Updated 10 September 2018
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Karen Wazen jets over for NYFW

  • Video circulating on social media shows Cardi B lunging toward someone and being held back

DUBAI: Lebanese fashion blogger Karen Wazen has been flitting around New York this past week, running from event to event as fashion week goes on.
The Dubai-based fashion icon jetted into the Big Apple courtesy of Tory Burch and attended the brand’s runway show, stopping to pose for a photograph with UAE-based Palestinian-Canadian blogger Leena Al-Ghouti and Lebanese style star Nour Arida.
“Touched down in New York with my @toryburch family. Thank you so much for brining me here during NYFW! I absolutely can’t wait for your show!” Wazen posted on Instagram last week.
“Thank you, New York for your amazing vibes!” she added in another post.
Wazen attended the Tory Burch Spring/Summer 2019 fashion show at the Smithsonian Design Museum on Sept. 7 and watched the unveiling of a collection imbued with the memory of the founder’s wealthy parents and their Mediterranean cruises.
The clothes were inspired by their steamer-hopping trips from Italy to Greece, and from Spain to Morocco, full of contrast from Cypriot lace to North African djellabas, and from flamenco flounces to safari suits.
Wazen also made an appearance at Friday night’s Harper’s Bazaar Icons party, where rappers Nicki Minaj and Cardi B were the center of attention due to an alleged altercation between the two.
A-list guests reportedly huddled around their phones to watch footage of the fracas — physical altercations aren’t normal fare at fashion week after parties.
A person who witnessed the incident, who asked for anonymity because they were not authorized to speak publicly, said Minaj was finishing up a conversation with someone when Cardi B tried to attack her, but Minaj’s security guards intervened, the Associated Press reported.
Video circulating on social media shows Cardi B lunging toward someone and being held back. Cardi B reportedly threw one of her shoes at Minaj. Another video shows the platinum rapper being escorted out of the event by security.
Cardi B, wearing a voluminous red Dolce & Gabbana gown, was seen leaving the party barefoot, with what appeared to be a bump on her head. In a post on Instagram Cardi B didn’t call out Minaj by name but alluded to the fight and said it was sparked because her mothering skills were being disparaged. She and rapper Offset recently had their first child together, a girl.
Minaj has not yet commented on the incident.


Michael Kors agrees to buy Versace for €1.83 billion

Updated 25 September 2018
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Michael Kors agrees to buy Versace for €1.83 billion

MILAN: US fashion group Michael Kors has agreed to buy Versace in a deal valuing the revered designer at $2 billion including debt, the companies said on Tuesday, making it the latest Italian brand to fall into foreign hands.
Michael Kors, whose namesake label is best known for its leather handbags, has made no secret of its ambition to grow its portfolio of high-end brands after buying British stiletto-heel maker Jimmy Choo for $1.2 billion last year.
Versace, known for its bold and glamorous designs and its Medusa head logo, was one of a clutch of family-owned Italian brands cited as attractive targets at a time when the luxury industry is riding high on strong demand from China.
“We believe that the strength of the Michael Kors and Jimmy Choo brands, and the acquisition of Versace, position us to deliver multiple years of revenue and earnings growth,” John Idol, chairman and CEO of Michael Kors said.
As part of the deal, Michael Kors agreed to buy all of Versace’s outstanding shares for a total enterprise value of €1.83 billion ($2.2 billion), to be funded in cash, debt and shares in Michael Kors Holding Ltd, which will be renamed Capri Holdings Ltd.
US private equity firm Blackstone, which bought 20 percent of Versace back in 2014, will fully exit its investment.
The Versace family, which currently owns 80 percent of the fashion house via a holding company called Givi, will receive €150 million of the purchase price in Capri shares.
“We believe that being part of this group is essential to Versace’s long-term success. My passion has never been stronger,” said Donatella Versace, sister of the company’s late founder, and artistic director and vice president of the Milan-based group.
After the deal, Versace CEO Jonathan Akeroyd will remain at the helm of the company, while Donatella Versace will “continue to lead the company’s creative vision,” Idol added.
The deal is expected to close in the fourth fiscal quarter, subject to regulatory approvals.
Michael Kors said it plans to grow Versace’s global sales to $2 billion globally, boost its retail footprint to 300 stores from around 200 at present and accelerate its e-commerce strategy. It also plans to raise the share of higher-margin accessories and footwear to 60 percent of sales from 35 percent.
Versace does not disclose its financial details, but documents deposited with the Italian chamber of commerce show that last year it posted sales of €668 million and earnings before interest, tax, depreciation and appreciation of €45 million.