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Discussions about the fashion industry thread

BlakeRVA

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He was with some talk show host who's 20 years younger than him. She's hot, but I don't know if she's "I'll die in the federal penitentiary" hot. Say a prayer every night that you never get divorced and have an insane mid-life crisis folks. It could happen to any of us.

"Besides the nearly $12 million in stolen cash wired directly to de la Garza and the Lucky Gal company, Hajjar purchased a million-dollar New York City co-op for the former TV darling using company money, the suit alleges.

Other gifts included a Mercedes-Benz, a $60,000 diamond bracelet, a $158,000 diamond ring, diamond earrings, designer handbags, designer clothing and other luxury goods all allegedly paid for with stolen money, according to the suit."


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dieworkwear

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Just like @BlakeRVA , I was most surprised at the scale, and therefore the scale of Alden's business and profitability to continue operating with millions of cash missing every year. I knew that Japan and HK were huge markets for Alden, but I don't think I realized quite how large that company really is.
It's actually just 100 customers who each own 1,000,000 pairs of Aldens in slightly different shell colors.
 

heebalabala

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I'm more surprised than anything that Alden has high enough sales that someone can embezzle $3.4M/year and it took 9 years to notice.

Hopefully dude was living his best life, prison won't be nearly as fun.
"During that time, Hajjar tried to conceal the fraud by taking money from a line of credit the company had with Santander Bank to replenish the funds he stole from the account in advance of the company's yearly financial statement review. After the review was over, he would return the money previously borrowed, [Assistant U.S. Attorney MacKenzie] Queenin said. He also altered the company's year-end bank statements and provided false information to its accounting firm.

"In the lawsuits, the company said it discovered the theft in 2019 after the owner, Arthur Tarlow Sr., asked Hajjar to distribute earnings into a series of family trusts. Hajjar delayed making the transfers, and then stopped showing up for work, claiming he was sick. When the funds never appeared, Tarlow texted Hajjar, who stopped responding."


And wow [emphasis mine]:

"Assistant U.S. Attorney MacKenzie Queenin said in a criminal information that between 2011 and 2019, when he was fired, Hajjar embezzled $30 million from Alden by writing himself checks from the company and transferring money to himself from a company bank account.

"At least $11.5 million of that money was transferred to a person only identified as 'Individual 1' and an 'entity associated' with that person, Queenin said.

"He spent millions of dollars on 'luxury goods' for the unidentified individual.

"The shoe company filed a lawsuit against Hajjar last May to recover $27 million in stolen funds. Alden also filed separate lawsuit against Hajjar's 'romantic interest,' former WCVB reporter Bianca De La Garza and her company, Lucky Gal Productions, for $15 million in June 2020.

"Garza's attorney, Terry Bird, wrote in a settlement offer filed in court that almost all of the money she received from Hajjar, which she believed to be his own, had been spent by her production company, and only $81,000 was left, in addition to $800,000 in equity on her New York apartment."


That is some expensive trim. She vacuumed up that cash like a Dyson. He got greedy -- the smart move would have been to hit up one of those sugar daddy web sites.

 
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Salad

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Every year I and probably a lot of other people here get these dire warnings from Shoemart to hurry up and kop before the price goes up! "Due to increasing costs....", lol. Trying to fill a $30M hole. $579 for the Indy now. Sheesh.

Alden1.png


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thatboyo

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Price only goes up like $10-15 though from what I remember. Most shoe brands do the same tbh except Alden does it annually versus other brands might raise for example $50 every few years.
 

Salad

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Price only goes up like $10-15 though from what I remember. Most shoe brands do the same tbh except Alden does it annually versus other brands might raise for example $50 every few years.
Yeah, I can't remember the last time I kopped Alden party because of the annual price raise. It kind of makes me feel like I'm being hustled or like I'm on car lot or something. I think I'd almost prefer one big jump every 5yrs or whatever than annually.
 

Texasmade

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Price only goes up like $10-15 though from what I remember. Most shoe brands do the same tbh except Alden does it annually versus other brands might raise for example $50 every few years.
G&G just raised prices £45 while Church’s raised their prices by like 40-50%. Church’s is not a typo.

John Lobb and Corthay have went up roughly $500 over the past 8-10 years,
 

Coffandcig

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Every year I and probably a lot of other people here get these dire warnings from Shoemart to hurry up and kop before the price goes up! "Due to increasing costs....", lol. Trying to fill a $30M hole. $579 for the Indy now. Sheesh.

View attachment 1595267

View attachment 1595268
Heddels had an article on this topic that mentioned the Indy boot

 

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