Macy's Inc said on Tuesday it planned to raise $1.1 billion (£893.36 million) in a bond offering, backed by a first mortgage on some of its properties, to repay funds borrowed under a revolving credit facility.
Designers are clamoring for a radical change in the fashion system; for less seasons and shows and later fashion week dates. But Carlo Capasa, president of the Camera, still expects to have four Fashion Weeks per year.
HFR will host a virtual fundraiser in order to build funds for Icon 360, a nonprofit made to provide relief to designers of color who are pivoting their businesses in response to Covid-19 and need funding to scale.
One day after Alessandro Michele, creative director of Gucci, revealed on Instagram that the brand would in future stage only two shows per year, the designer called for a reformulation of the fashion calendar.
Darroch, who has been a senior independent director at Burberry since 2017, said he will not stand for reelection at the company’s annual general meeting in July to focus on his other executive commitments.
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