Diesel USA has filed for Chapter 11 bankruptcy protection from creditors after reporting losses for a number of years.The company filed the claim at a US Bankruptcy Court in Delaware on Tuesday (05Mar19), citing falling sales, high rents, theft and cyb…
Diesel USA has filed for Chapter 11 bankruptcy protection from creditors after reporting losses for a number of years.
The company filed the claim at a US Bankruptcy Court in Delaware on Tuesday (05Mar19), citing falling sales, high rents, theft and cyber-fraud as the main causes of its financial problems.
Operating losses at Diesel USA increased from $4 million in 2014 to $ 27 million in 2015. In 2018, the company had an operating loss of $24 million.
CBS News reported that Diesel USA chief restructuring officer Mark Samson noted the company was unable “to sustain the kinds of losses it has suffered in recent years”.
Despite the money struggles, the much-loved denim and accessories brand has insisted it will continue to operate throughout the process, with plans to close 28 stores so it can invest in its online and wholesale proposition.
In a statement issued on Wednesday, Diesel reps said they were addressing “long-term liabilities” to create a “healthier and stronger” U.S. business.
“This procedure opens the way to a redefinition of the brand’s geographic footprint in the United States, a strategic roadmap that will include some important milestones in 2019,” they said.
The long-term plan includes refitting and reviewing most of the line’s retail store network, strengthening its e-commerce presence, and instigating a series of key wholesale partnerships to enhance the way that consumers interact with the brand, both physically and digitally.
While parent company Diesel S.p.A., founded by Italian designer Renzo Rosso, will not be affected by the bankruptcy, it confirmed plans to continue operating in the U.S. market going forward.
“The company remains fully committed to the U.S. market, a unique and fundamental window to be an important player globally,” bosses commented.
© Cover Media
Nicki Minaj is continuing her venture into fashion with a surprise new Diesel collaboration.The Super Bass singer has only recently launched her new album, Queen, but in between recording and promoting her fourth record, she found time to join forces w…
Nicki Minaj is continuing her venture into fashion with a surprise new Diesel collaboration.
The Super Bass singer has only recently launched her new album, Queen, but in between recording and promoting her fourth record, she found time to join forces with the Italian brand on a new collection.
“You need people like me. So you can point your finger & say: THAT’S THE BAD GUY‼️ Got a surprise for anyone who’s ever been labeled #TheBadGuy,” Nicki teased on her Instagram account before fully letting the cat out of the bag.
“ITALY!!!! I’ve waited so long to share this surprise with you! I’m shutting down an entire block in Milan to present my collection w|@diesel. This will be one for the (books)! Missed you!!! 9|19 #MinajInMILAN,” she exclaimed next to a photo of her starring in large billboard ad for Diesel’s new Hate Couture campaign.
WWD reports invites for Diesel’s Milan Fashion Week show have now been sent out, with the invitation stating “The Queen is coming” on a black-and-white background that says “Diesel Is Dead”.
While the 35-year-old has skipped the London Fashion Week round of shows, she was a regular at the New York presentations, sitting front row for Marc Jacobs, Oscar de la Renta and Opening Ceremony.
She also made it to countless parties, including a Harper’s Bazaar bash where she brawled with fellow rapper Cardi B – an incident she called “humiliating” on her Beats 1 radio show.
Nicki previously worked with H&M on a capsule collection, as well as starring in the Swedish retailer’s Christmas advert. However, fans urged her to cut ties with the brand after a young black model posed in a hoodie bearing the slogan “Coolest monkey in the jungle”, causing a racism backlash.
© Cover Media
Steve Aoki has landed the role of watch ambassador for Diesel.The electronic dance music (EDM) producer and DJ is known for his signature edgy style and long hair, which he shows off in the imagery for Diesel’s new transparency watch collection.”I’m co…
Steve Aoki has landed the role of watch ambassador for Diesel.
The electronic dance music (EDM) producer and DJ is known for his signature edgy style and long hair, which he shows off in the imagery for Diesel’s new transparency watch collection.
“I’m constantly looking for ways to create and collaborate on unique and one-of-a-kind material, musically and artistically, whether it be through different brand collaborations, through my lifestyle and fashion brand Dim Mak or expanding my art collection,” Aoki said in a statement. “My mind is always on overdrive, which allows me to develop my brand through various channels.
“(The watch design) was orchestrated with my influence in mind, the clashing features and futuristic design of Diesel watches very much aligns with my style and aesthetics, on and off the stage.”
Andrea Rosso, creative director of licenses for Diesel and son of founder Renzo Rosso, added that Aoki was the perfect fit for the fashion house.
“His style and his sense of aesthetic perfectly match the design and the clashing features of this watch, together with its new futuristic approach based on transparency,” Rosso said.
There are four watches in the blue transparency line, which have been inspired by the indigo dyeing of jeans and are all on sale now. Prices range from $140 (£108) to $240 (£186).
As well as his Dim Mak line, which became a part of the New York Fashion Week: Men’s schedule in 2017, Aoki has also previously teamed with sports brand Asics and co-owns streetwear brand Vision Street Wear.
© Cover Media
Winnie Harlow is constantly inspired by her pal Bella Hadid’s work ethic and career.The Canadian model, who has a prominent form of skin condition vitiligo, first gained prominence as a contestant on the twenty-first cycle of the U.S. television series…
Winnie Harlow is constantly inspired by her pal Bella Hadid’s work ethic and career.
The Canadian model, who has a prominent form of skin condition vitiligo, first gained prominence as a contestant on the twenty-first cycle of the U.S. television series America’s Next Top Model, and has since gone on to star in campaigns for the likes of Diesel and Swarovski.
While Winnie is making a splash in the fashion world in her own right, she has now explained that one of her top inspirations is her 21-year-old friend Bella.
“Bella Hadid is an inspiration. She continues to master her craft – it’s amazing to witness as her friend,” she told Elle U.K. magazine. “When we walked the Tommy Hilfiger show, we were hanging out all day and then flew to Paris together, which was a lot of fun.”
Winnie went on to explain that she is also influenced by a number of other style stars, including Halima Aden, who is known as one of the first models to wear a hijab on the runway, and actor and model Luka Sabbat, who is playing Yara Shahidi’s love interest on her new show Grown-ish. But it’s Super Bass hitmaker Nicki Minaj who she calls whenever she is confronted with a serious issue.
“Nicki Minaj is who I can rely on to keep it 100 per cent real. She once called to say that if I ever had a problem, I shouldn’t hesitate to call and talk it through, as so much drama in our industries could be prevented with communication,” the 23-year-old shared.
Winnie credits her best friend Shannon Hamilton with keeping her grounded, while she considers British fashion photographer Nick Knight a constant source of support.
“I wouldn’t have my career without him. When I was 19, he asked me to shoot with him in London. It was a magical experience. It’s the reason I’m still modelling today,” she smiled.
© Cover Media
Diesel has tapped Hood By Air’s Shayne Oliver as the first designer for its new Red Tag Project.Hot on the heels of Moncler’s Genius initiative, which has seen eight top designers join the label for eight new lines, Italian label Diesel has announced a…
Diesel has tapped Hood By Air’s Shayne Oliver as the first designer for its new Red Tag Project.
Hot on the heels of Moncler’s Genius initiative, which has seen eight top designers join the label for eight new lines, Italian label Diesel has announced a similar idea.
The brand will be working with influential designers, who will create capsule collections that will be distributed exclusively by selected retailers worldwide.
Oliver has designed 10 looks, which Diesel will debut in Paris on Saturday (03Mar18).
“I love denim’s heritage and its American roots, as well as Diesel’s Italian core,” Oliver said in a statement. “This capsule is really the language of Renzo (Rosso), the brand founder. Refined razor-sharp denim aesthetics that devours the excesses of trendiness.”
Streetwear brand Hood By Air is currently on hiatus, though Oliver has been keeping busy by teaming with other brands, including Helmut Lang and now Diesel.
Talking about the new project, Rosso, explained how each designer will interpret the fashion house’s offerings.
“This is a vibrant moment for Diesel: we are working on a series of global initiatives, one of which is this with the most groundbreaking and radical international designers, like Shayne,” he added. “The new generations are excited and engaged by beautiful products that have a soul and speak the language of today.”
Rosso is no stranger to pushing the boundaries of fashion, and recently set up a Diesel knock-off store in New York’s Canal Street selling genuine garments that looked fake, thanks to the misspelled DEISEL logo splashed across denim, sweatshirts, caps, and T-shirts.
© Cover Media
Diesel has set up a knockoff shop in New York selling genuine goods.The Italian label has taken over a store in the Big Apple’s famous Canal Street, a shopping district notorious for selling fake designer clothes, bags, and jewellery. Opening just in …
Diesel has set up a knockoff shop in New York selling genuine goods.
The Italian label has taken over a store in the Big Apple’s famous Canal Street, a shopping district notorious for selling fake designer clothes, bags, and jewellery.
Opening just in time for New York Fashion Week, the Canal Street store is all to do with Diesel’s spring/summer 2018 campaign strategy, Go With the Flaw.
“We wanted to bring out our self-irony… and also to slightly mock the current logomania trend, in a Diesel way. We never want to take ourselves too seriously,” Renzo Rossi, the president of OTB group, which owns Diesel, told Vogue.co.uk.
On offer is denim, sweatshirts, caps, and T-shirts, printed with the misspelled Diesel logo, DEISEL, all carrying a knockoff price tag.
“We are using the power of Diesel to strengthen it even more. The real deal is for those who own a DEISEL item now – it will become something to collect and impossible to find unless you buy it fast on our e-comm before it’s sold out,” Rossi continued. “We did this for our core fashion customer looking for something that will turn heads and spark questions, while actively taking part in the culture and reinforcing our commitment to go with the flaw. The ‘knockoff’ price point and the fake store was an experiment to celebrate those brave enough to find their own unique style.”
The fashion entrepreneur added that while he has no tolerance for real counterfeit items, being copied is flattering.
“If someone copies you, it means that your brand is worthy and top of mind with consumers, but at the same time we make every effort to protect our brand from counterfeit activity,” the 62-year-old stated.
The label has now trademarked DEISEL for its own use.
© Cover Media