Wednesday, January 16, 2008

Isaac Lifts Liz Up Today

The buzz around the fashion world continues to be about how Isaac Mizrahi is leaving Target to become the Creative Director for Liz Claiborne. While I think this is a great choice for Liz Claiborne, I worry about what this means for Target. According to WWD today, “sources estimated Mizrahi's collection for Target to have done more than $300 million @ retail annually. Sales have doubled every year since his line was launched in 2003.” WWD also indicated that he will continue to design his couture collection for Bergdorf Goodman. According to the WSJ, the Mizrahi collection will be available through the end of 2008. Liz Claiborne’s stock price seems to be reacting positively, lifting the stock price today [around 67 cents at the time of this article.]
I wonder if Target is surprised by this move since Mizrahi’s contract is up at the end of this year? I wonder if they have someone already in the works…nobody panic yet!

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