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The fucker just refuses to die. At least he has finally settled where he belongs, and will be laughing all the way to the bank. Between him and Tim Gunn, this should be a great clown show.
http://www.wwd.com/issue/article/121511
Published: Wednesday, January 16, 2008
Mizrahi's Major Move: Isaac Tapped to Design Liz Claiborne Women's
Liz Claiborne Inc. has enlisted Isaac Mizrahi to rescue its struggling flagship brand.
Mizrahi
is leaving Target Corp. ? the venue that introduced him to the
mainstream customer ? at the end of this year and will become creative
director for all categories of the better-priced women's Liz Claiborne
brand, beginning in spring 2009.
William L. McComb, chief
executive officer of the $4.99 billion Liz Claiborne Inc., told WWD
that the "long-term" deal ? the brainchild of Dave McTague, executive
vice president of partnered brands for Liz Claiborne Inc. ? has been in
the works for months.
"Dave walked in the door with a charter to
fill the emotional vacuum of the brand," McComb said. "Liz Claiborne is
an extremely well-known, well-regarded brand that failed to deliver on
the core values that made it great in the first place: color, fit,
value and style. The turning point was when Liz Claiborne died [in
June], and we got lots of calls and letters from consumers who didn't
know she hadn't been working here since 1989."
Claiborne is hopeful that Mizrahi can bring his fashion wit and color sense to the struggling women's collection.
Mizrahi's
appointment follows Monday's announcement that John Bartlett will
design the Claiborne men's sportswear line, under the label Claiborne
by John Bartlett, also launching for spring 2009. Unlike the men's
line, the core Liz Claiborne collection will not be called Liz
Claiborne by Isaac Mizrahi, though his association with the brand will
be clear on the labels.
"Isaac is an international icon,"
McTague said. "He not only knows this woman, he adores her. His core
values are so perfectly aligned with our core brand: fit, color,
comfort, value, fun and a uniquely American brand."
Mizrahi replaces Richard Ostell, who has designed the line since 2005. Karen Harvey Consulting conducted the search.
Suffering
from what Claiborne executives have admitted was stagnant product, the
flagship brand has seen a continued slide in volume, from about $2
billion in the early Nineties to accounting for part of the $1.5
billion in sales of the Liz Claiborne brand family, which now also
includes Liz & Co., Concepts by Claiborne, Claiborne, Axcess and
Villager, brought in last year. McComb said the goal still is to
stabilize the losses before he focuses on growing the line. He added
that the company will probably be holding prices, but improving the
product to deliver better value for the price, which has been a
weakness of the brand.
Last year the biggest wholesale partner
for the Claiborne brand, Macy's, drastically cut back orders, partly as
a response to the creation of the diffusion Liz & Co. line for J.C.
Penney. Mizrahi will not design Liz & Co. or other diffusion lines.
"This
is the long-awaited differentiation that Macy's has been asking for,"
McComb said. "This is the vital answer to the differentiation."
Jennifer
Black, a retail analyst at her namesake firm, thinks the move will earn
back the space the line has lost in retailers, which sources said have
scaled back spring orders 30 percent, after 50 percent reductions last
year. "In the short run, are things going to change? No, but longer
term, the space they have been losing in department stores may
stabilize," said Black. "If these department stores have the
opportunity to carry Isaac Mizrahi, which was a huge draw for Target,
they would be crazy to not do it."
Sources speculate Mizrahi
will appear in everything from in-store appearances to runway shows
during New York Fashion Week for the line. Like Liz Claiborne Inc.
chief creative officer Tim Gunn, who has been promoting the collection
this fall with in-store shows, Mizrahi is a familiar face on
television. In addition to hosting his own series on both the Oxygen
Network and the Style Network, Mizrahi is a regular guest star on other
shows, including, interestingly, a recent appearance on "Tim Gunn's
Guide to Style." In February, he will launch his new Web-based series
"WatchIsaac" at Watchisaac.com.
"It's a great move for Liz
Claiborne, and a huge loss for Target," said Black. "They couldn't have
picked a better person. Isaac really understands this customer, and he
has done the high-end and really done a great job targeting it to the
mainstream market. I would bet he would be doing lots of personal
appearances once they have the product out. With him designing it, the
line could be pretty great."
Sources estimated Mizrahi's
collection for Target does more than $300 million at retail annually,
with last year being its best ever. Sales have doubled every year since
the line was launched in 2003. Target's agreement with Mizrahi expires
at the end of this year, which some might see as a blow to the discount
retailer. Mizrahi's arrival at Target helped foster its cool image and
was a major force in elevating its apparel offering. Recently, however,
Target has seen sharp falls in same-store sales, with many analysts
saying the Mizrahi collection and other lines need freshening up.
A
three-time winner of the designer of the year award at the Council of
Fashion Designers of America, Mizrahi opened his own sportswear
business in 1987. Before shuttering his design house, bankrolled by
Chanel, in 1998, the industry heralded Mizrahi as the next big thing in
American fashion as a designer who was known for his wit and charm. He
hosted theatrical runway shows and was featured in his line's print
ads. At the time of its closing, Mizrahi's collection business was
estimated at $8 million to $10 million at wholesale, plus another $15
million to $20 million from the ISAAC bridge division. He made his big
media debut with the documentary "Unzipped," about the development of
his fall 1994 collection.
He reinvented himself four years ago
when he started designing his line for Target, as well as a couture
collection for Bergdorf Goodman ? epitomizing the emergence of
high-low. He will continue his designer line.
Mizrahi wasn't
available for comment Tuesday, but said in a statement: "Liz Claiborne
is an American fashion icon. Her clothes were not only beautiful, not
only smart, they were revolutionary. She invented separates, and
invented an entirely new category in the department store.
"She
made fashion friendly and accessible, and in doing so, she became every
woman's best friend. These are all ideas I treasure and I'm honored to
have the opportunity to build on this fantastic legacy and excited to
reestablish the label as a must-have. And, as excited as I am about
developing Liz Claiborne, the collaboration also affords fantastic
opportunities for growth in my own brand," said Mizrahi.
Mainstream
brands have brought in well-known designers to resuscitate themselves
with varying success. Although Patrick Robinson at Perry Ellis and,
more recently, Isabel Toledo at Jones Apparel Group's Anne Klein,
enjoyed critical success, both had short-lived tenures. But McComb
promised the deal with Mizrahi will have a better fate, and consultants
seem to agree.
"Liz has felt like a dormant brand for quite some
time without a strong sense of identity or relevancy," said Catherine
Sadler, president of New York marketing firm Catherine Sadler Group.
"Isaac represents approachable fashion to Middle America."
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