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Fashion Law Blog

An Interactive Discussion on the Business of Fashion

Loyola’s Fashion Law Project’s Summer Intensive

Posted in The Business of Fashion

I am blown away by all your support, encourage and positive feedback. Thanks to you, the Deans have approved a Fashion Law Summer Intensive as part of the Fashion Law Project at Loyola Law School!

So for all of you who don’t have Fashion Law at your design school, college or law school OR in your neighborhood, city or country, we invite you to join us for Loyola’s Fashion Law “bootcamp” this summer in California!

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The Fashion Law Summer Intensive will be a nine day course from July 24th to August 1, 2014, which is roughly the equivalent of a two unit class, geared towards law students and practicing lawyers that want to become Fashion Lawyers, as well as perfect for Fashion Industry Executives wanting to expand their job skills and Fashion Students who are thinking of launching their own line or want to learn more about the business of fashion.

Yes, you will learn Fashion Law (similar to the class I teach to Loyola Law School students), but, for the same price as Fordham’s program, the Fashion Law Summer Intensive will offer much, much more. Following Loyola’s traditional theory on class offerings, we will give you practical skills and hands-on training that should be applicable to your daily job, or help you “hang-up your own shingle,” as my law professors used to say. And of course since:

this ain’t no disco, It ain’t no country club either…….this is L.A.

there will designers, “special” guests, social events, field trips and lots of networking. And yes, we will leave you time to enjoy all LA has to offer – from Rodeo Drive to celebrity sightings, from the California Market Center to Disney Land or from the beaches of Malibu to the Hollywood Sign. And, because all us Fashionistas need our accomplishments documented (hello, selfie!), you will get a graduation certificate.

Each year, the Fashion Law Summer Intensive will be structured into a two “pod” approach. As mentioned above, the first pod will be a version of the Fashion Law class currently taught at Loyola Law School, which is the cornerstone of our Fashion Law Concentration and the course that launched The Fashion Law Project! This segment of the Summer Intensive will take place Friday-Sunday (July 25 to July 27, 2014).

The second “pod” will take place Monday-Thursday evenings (July 28 to July 31, 2014) and the topic of the second pod will change every year. This year, the theme of our second pod is brand building and is titled, “From Basics to Billions: How to Launch and Grow a Fashion Brand.” Starting with a case study and utilizing a clinic style of teaching, participants will learn what it takes to launch and grow a successful brand and then practice those skills during the Summer Intensive. The bootcamp will end with a graduation ceremony on Friday, August 1, 2014. With the “pod” approach, you will be able to join us year after year for the second pod, as a way to keep your Fashion Law knowledge and skills cutting edge.

To ensure you have all the information needed to decide to join us, here is a detailed schedule of the Fashion Law Summer Intensive:

  • July 24, 2014: Welcome Reception
  • July 25th & July 26, 2014: class sessions from approximately 9am to 5pm.
  • July 27, 2014: late morning class (approximately 2 hours) followed by a field trip to Beverly Hills where we will conduct a walking tour of the luxury brand flagships in the Rodeo Drive Area
  • July 28 to July 31, 2014: evening class sessions from 6pm to 9pm.
  • August 1, 2014: graduation ceremony and closing dinner

Registration is open, so if you are interested, sign up now. If you need more information, or want to find out about hotels, where to fly into, and those details, see the Fashion Law Summer Intensive page here.

The faculty list will be posted after the Fashion Law Project’s inaugural Fashion Law Symposium on March 22, 2014, so be sure to check back if you are curious.

Hope you can join us!

xoxo

Staci

 

 

Loyola’s Fashion Law Project’s Inaugural Fashion Law Symposium

Posted in The Business of Fashion

As you regular readers know, last December Loyola Law School made history when it officially launched The Fashion Law Project – the very first “fashion law institute” on the west coast.

For those of you who may have heard me up on my soap box discuss The Fashion Law Project, our mission is to bring all facets of Los Angeles’ fashion community together:

  • to support each other;
  • to learn and grow from each other;
  • to highlight the ability to make and design in LA;
  • to create jobs; and
  • to draw attention to the important of Los Angeles in the global fashion market (which now tops 1 trillion dollars and is the second largest industry in the world behind food!).

I am honored to invite you to join me at our first ever event, a fashion law symposium titled, “One Chanel Does Not Fit All: The Fashion Law Implications of Omnichanel Marketing.”

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When:

March 22, 2014 — 9am to 4:30 pm. Networking Reception to follow.

Who Should Attend:

Fashion industry executives, design students, marketing professionals, law students, ecommerce strategists, brand owners and lawyers looking to break into Fashion Law.

What:

Throughout the day, interactive panels will address how to create and launch a successful Omnichannel marketing plan, including the business and legal considerations and challenges faced by brands. The conference is jam-packed with speakers to help you understand the blurred lines between digital and bricks and mortar and how to establish a seamless on-line and off-line retail strategy. You will leave armed with tips and tricks, best practices and new connections to help your brand (or clients) succeed in this rapidly developing area.

Who:

We have an incredible line-up of speakers, including:

  • Bruce Berton, CEO of B&B International; Professor at Fashion Institute of Design & Merchandising (FIDM);
  • Bernard Campbell, Co-Founder, Fi3;
  • Giovanni Feroce, CEO of Alex and Ani;
  • Elton Graham, VP of E-Commerce, Kellwood Company;
  • Deborah Greaves, Adjunct Professor of Law, Loyola Law School & Former GC of True Religion Brand;
  • Candice Hyon, Corporate Counsel of Marketing, Privacy, & Intellectual Property, Forever 21;
  • Lauren Indvik, Co-Editor in Chief of Fashionsta.com;
  • Rey Kim, SVP and General Counsel, Halston;
  • Danielle Lowy, Corporate Counsel, JustFab;
  • Glyn Milburn, Business Team Member, Los Angeles Majors Office for Economic Development;
  • Stacy Procter,  Staff Attorney, Federal Trade Commission;
  • Sean M. Scott, Senior Associate Dean for Academic Affairs , Loyola Law School;
  • Macala Wright, Digital Consultant, Why This Way; and
  • Me!

And, we still have a few more speakers to announce (surprises are good, right?!), so be sure to check back.

Where:

Loyola Law School, Los Angeles
919 Albany Street
Los Angeles, CA  90015

How Much:

$95 – Registration
$20
– additional MCLE fee, if requested, for 1 hour Ethics credit for the 3pm panel, “Legally Good”
$25 – Current Students (non-Loyola)
Free for current Loyola Law Students with valid Student ID

Registration/RSVP:

Click here

Want to Sponsor The Fashion Law Project?

Email me or click here and select “Fashion Law Project on the drop down menu.”

Last but not least, make sure to save the date for our Summer Intensive!  This is The Fashion Law Project’s summer “bootcamp” and will take place July 24, 2014 through August 1, 2014.  Click here for more information and here to register.

xoxo

Staci

ps – for all of you that wanted to meet for coffee, lunch, or to just “pick our brain,” this seminar would be a good time.

 

UC Hastings Fashion Law Symposium

Posted in The Business of Fashion

Hi everyone!  I want to invite all my Northern California fashion law friends and enthusiasts to join me on Friday, February 28, 2014 from 9am to 7:30pm at UC Hastings’ first ever Fashion Law Symposium, entitled “Growth in the Fashion Industry: A New Approach to Protection?”

Organized by Ashli Weiss and her team from UC Hastings Fashion, Art & Design Society, the agenda is packed with fabulous speakers gathered from across the country.

I hope to see you there!

xoxo

Staci

ps – for all you that want to meet for coffee, lunch or just “pick our brain,” this would be a perfect time.

Fashion Law Week 2014

Posted in The Business of Fashion

If you can brave the weather, I would love to meet you in DC at Howard University’s fourth annual Fashion Law Week.  This year’s theme is Fashion Tech: The Law of Fashion in a Digital Marketplace.

I was beyond thrilled to be invited to present the keynote at Fashion Law Week, which was instrumental in making Fashion Law a movement.  Events take place from February 24 through March 1, 2014, ending with a fashion show featuring “intelligent designs.”

My presentation will be Wednesday, February 26, 2014 at 7 pm in room 101 (which is Howard University Law School‘s Mock Trial courtroom).

I hope to see you there!

xoxo

Staci

MAGIC Market Week – Crafting Hollywood: How Costume Designers and Wardrobe Stylists Source Characters

Posted in The Business of Fashion

Hi everyone! I hope your President’s Day is going well. We are off to VEGAS BABY, and are guessing most of you are too (if you are not already there). In between, the fashion, food and other fabulous events, I hope you have time to come to the panel I am moderating on how costume designers create characters. In case you didn’t see the announcement, all the details are below.

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What:

Crafting Hollywood: How Costume Designers and Wardrobe Stylists Source Characters

When:

Wednesday, February 19, 2013 | 1 p.m. to noon

Where:

Sourcing – South Hall
Las Vegas Convention Center
3150 Paradise Rd
Las Vegas, NV 89109

What:

When it comes to outfitting for film, television and web programming, designers don’t run to local shops or designer showrooms for clothing to tell the stories of the characters they’re dressing. Often they create what they need. That’s where sourcing textiles and materials comes in. Costume designers discuss how they build characters through their wardrobes, whether they make it from scratch, thrift it or even customize something found. They also tell retailers, buyers and designers about current industry trends.

Moderator:

Me! Staci Jennifer Riordan – Partner and Chair of Fashion Law Practice, Fox Rothschild LLP

Panelists:

Looking forward to seeing you there!

xoxo

Staci

ps – for all of you that wanted to meet for coffee, lunch, or to just “pick our brain,” this seminar would be a good time.

 

The Fashion Law Project

Posted in The Business of Fashion

Well, even though this post is extremely overdue, I am very very excited to share with you that last December, Loyola Law School officially launched the Fashion Law Project!

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Just in case you live under a rock haven’t heard, the Fashion Law Project is is an academic center housed at Loyola Law School that will focus on the law and business of fashion. We want to be a resource for the Fashion Industry so our programming will be tailored to appeal to several audiences such as design students, legal professionals and fashion industry professionals in addition to those students attending Loyola. The curriculum will feature innovative courses and present practical training opportunities and clinical offerings that provide attendees with the skills and experience needed to succeed in today’s market.

In addition to the course work open to Loyola’s students (who will be able to obtain a concentration designation) we will offer the following to anyone interested in fashion law:

My goal for the Fashion Law Project is to bring together the country’s top fashion lawyers, give them a platform, and help highlight the importance of Los Angeles in the global fashion market while educating the next generation of business and legal thought leaders in the process.

I am honored Loyola has entrusted me to be part of this historic endeavor and extremely grateful my firm supports my participation in this new area of scholarship.

So, please check back often as I will be posting more information about our upcoming events (our first one is on March 22, 2014 so save the date!)

xoxo

Staci

 

New York Fashion Week: Will Designers Stop Employing Young Models?

Posted in The Business of Fashion

Guest Post by Dana Katz

Mercedes-Benz Fashion Week is fast approaching and we’re hoping to attend some shows.  I was lucky enough to attend a Lela Rose show for the spring 2014 collection that simply blew my mind. I mean look at this stunning dress!!

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But, the fall 2014 shows pose new challenges for NY fashion week designers.  As of November 20, 2013, print and runway models under the age of 18 that live or work in the State of New York are covered by New York labor law and regulations as “child performers.”  The Child Performer Regulations are available in full on the New York Department of Labor website along with these FAQs.

Among other requirements, at least two days prior to employing a child model to work in New York, employers must obtain a Certificate of Eligibility from the Department of Labor, which is valid for 3 years.  Employers must also provide a Notice of Use to the Department of Labor at least two days prior to the employment of a child model. Child models are required to obtain a Child Performer Permit, issued by the Department of Labor at no cost and valid for 1 year.  Child models must also set up a trust account as employers are required to deposit at least 15% of earnings into a trust.

The total daily and weekly hours that child models may work are limited depending upon their age and whether school is in session. Specifics regarding the hour requirements can be found here.  In addition, a responsible person 18 years or older, to be designated by the child model’s parent or guardian, must attend work with a child model under the age of 16.

If employers do not comply with the laws, the Certificate of Eligibility could be revoked or suspended, and the New York Department of Labor could impose civil penalties of up to $1,000 for the 1st violation, $2,000 for the second violation and $3,000 for the 3rd violation.

Fashion Law 101: Mergers and Acquisitions Part II

Posted in The Business of Fashion

Guest Post by Mary Therese O’Sullivan

Since we received so much great feedback on our intial Fashion Law 101: Mergers and Aquisitions post, and so many requests for more information, we decided to turn this topic into a series!

So, since you already understand what a merger or acquisition is, and you made the very BIG decision to acquire, be acquired, or merge – now what?  What exactly does an acquisition look like?  How does it happen? What are the pros and cons?

Mergers and acquisitions are often complicated deals with intricate purchase schemes and specific tax considerations (topics for another blog post).  Yet, at its most basic level, there are three ways to acquire a business and/or its assets: (1) Acquisition of Stock, (2) Acquisition of Assets, and (3) Merger.  Understanding the differences between these three methods will enable fashion companies to make educated and appropriate decisions for future growth.

So, let’s talk about acquisitions . . .

Acquisition of Stock

  • What happens? A buyer corporation acquires all or substantially all of the outstanding stock of the seller corporation, and the seller becomes the subsidiary of the buyer.  In other words, through buying the majority of seller’s stock, buyer becomes the “parent” of the seller corporation and has control over it.
  • What are the Pros?
    • Once the purchase price is determined, stock purchase agreements are relatively straightforward transactions.
    • Buyers do not need to spend time identifying each and every asset or liability it is planning on acquiring.
    • Third-party consents are often not required.
    • Most states do not impose transfer or sales tax on stock purchases.
    • What are the Cons?
      • Getting corporate approval can be difficult.
      • A high level of due diligence is required to ensure that the buyer knows all of the risks, liabilities, and contracts that it is acquiring.  This can be both costly and time consuming.

Stock Acquisition in Action: Just last month, Joe Jeans Inc. acquired Hudson Clothing Holdings, Inc. for $97.6 million.  The unity of ownership between Joe Jeans and Hudson Clothing will enable both brands to continue to exist separately in the consumer market, while also promoting collaboration of ideas and cost-efficiency in denim production behind the scenes.

Acquisition of Assets

  • What happens? A buyer corporation acquires some of the assets and/or liabilities of the seller corporation. Through this, the buyer obtains the rights and obligations only in regard to the specified assets or liabilities purchased.  Therefore, the seller corporation remains an autonomous entity, often unchanged, with the exception of the sale.
  • What are the Pros? 
    • The purchase agreement is asset and liability specific, therefore, both parties to the sale have flexibility to ensure that they are not buying or selling assets or liabilities that they do not want to buy or sell.
    • Due diligence is often quicker and more cost effective than due diligence in stock purchases.
    • What are the Cons?
      • It can sometimes be time consuming for a buyer to identify each specific asset or liability it wants to purchase and for the parties to agree upon a value.
      • Transfer or sales tax may apply to the assets and/or liabilities purchased.
      • Third-party consents may be required, depending upon the specific contractual terms of the assets and/or liabilities.

Asset Purchase in Action: Just this past month, rumors began to circulate that Permira Group, a private equity firm and the owner of the Hugo Boss brand, is in negotiations with R. Griggs Group to purchase the Dr. Martens brand.  R. Griggs Group has owned and manufactured Dr. Martens since the brand’s creation in the 1960’s.  The Dr. Martens brand is currently valued at around $485.3 million.

What is the Takeaway?

When making acquisition decisions, fashion groups should consider the factors that are most important – cost, taxes, time, flexibility, desirable assets, continued control, etc.  Before taking any legal steps, fashion groups need to carefully weigh the pros and cons of partaking in an acquisition method, and should carefully outline it’s needs, risks, and interests.

Fashionably Friday: Recommended Reading

Posted in Fashionable Friday

Happy almost MLK day!  I am looking forward to spending time with my family this weekend.  How about you?

Speaking of family, my dad shared this quote with me when I was in Boston last week for for my sister Mollie’s wedding.  I knew you would love it too, so I had to share:

The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.

- Dr. Martin Luther King, Junior