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Serena Williams Shows Off Massive Engagement Ring on Reddit [Reddit]
On the heels of their Dec. 29 engagement announcement, Serena Williams and her fiance, Reddit co-founder Alexis Ohanian, finally gave fans a look at the rock that sealed the deal. Williams shared a photo from the evening of the engagement on the Sneakers Subreddit, in which both the massive ring and her black Nikes are visible. The tennis star jokingly captioned the image, “Engagement shoe game.”
Sears Holdings to Close 150 Stores Across America [Fortune]
In addition to the 170 stores it closed in the first three quarters of the fiscal year, Sears Holdings announced Thursday that it will close an additional 150 locations (41 Sears stores and 109 Kmart stores) across the country. Like fellow mall department store Macy’s, Sears has been underperforming in the past few years, thanks in part to digital competition and low mall foot traffic.
Kyle Chan Wins Hollywood & Highland Pop-Up Competition [Pret-a-Reporter Inbox]
Jewelry designer Kyle Chan has been named the winner of Hollywood & Highland’s first-ever Next Great Pop-Up competition. Chan, whose Greek- and Roman-inspired semiprecious and precious stone designs were worn by Emma Stone in La La Land and who was name-checked by costume designer Mary Zophres in our THR interview, will open the doors of his 850-square-foot pop-up on Monday, Jan. 9, and will remain open through Feb. 17. In addition to the coveted retail space, Chan was awarded $2,500 to help build out the store concept.
Amazon, Forever 21 Rumored to Be Bidding for Bankrupt American Apparel [Business of Fashion]
Both Amazon and Forever 21 are among the companies taking an interest in buying American Apparel, which filed for its second bankruptcy in less than two years last November. Any buyer will have to top the $66 million stalking-horse bid put forth by Gildan Activewear, as agreed upon in American Apparel’s last bankruptcy filing. The offer deadline is Friday, and a decision is expected by next week. Given that many of the potential buyers outsource labor to low-cost countries in order to cut costs, it is unlikely that American Apparel’s SoCal factories will continue their full-scale operations.
Carolina Herrera, Oscar de la Renta Settle Suit Over Monse Designer Laura Kim [WWD]
Carolina Herrera has settled its lawsuit against Oscar de la Renta. The suit was filed in December and regarded the September hiring of Laura Kim at de la Renta as the brand’s new co-creative director. (Kim briefly was employed at Herrera over the summer.) Herrera claimed that the hiring violated the non-compete clause, while de la Renta and Kim argued that the clause was not enforceable because Kim was pushed out of the company. Herrera was attempting to block Kim from working at de la Renta until April. Under the settlement, Kim is being allowed to move forward with her employment at de la Renta as co-creative director alongside Fernando Garcia, with whom she is also the co-founder and co-creative director of Monse.
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