Sears: to take over Eleven??
Sears Holdings Corp. has reportedly named Craig M. Israel to a newly created job as president of its apparel division, according to a report in Monday's Women's Wear Daily magazine.
Israel will have his hands full as Sears, based in Hoffman Estates, has been burdened by too-large inventories of clothes and resulting markdowns that have pulled down its financial results.
Israel will report to Bruce Johnson, interim Sears CEO. He will oversee clothing and accessories for men's, women's and children's, according to the WWD report.
Sears has set up shops featuring Lands' End clothing, and recently launched a line of young men and girls' casual clothes with rapper LL Cool J.
The retailer also has been reported to be in talks with Steve & Barry's, the low-cost retail chain that has filed for Chapter 11 bankruptcy protection, to take over licenses with celebrities such as the clothing line "Bitten" by Sarah Jessica Parker and "Eleven" by Venus Williams.
Most of its better-known fashion labels — Bitten, Dear by Amanda Bynes and Eleven by Venus Williams, as well as a group of TV-related brands from CBS Consumer Products — are believed to be licensed to it, rather than wholly owned. The status of these labels in a sale or liquidation is uncertain.
So sad but Vee will get sumthing better
Last edited by V's a star; Jul 14th, 2008 at 05:26 PM.