Bankruptcy: Department store chain Barney’s announced at midnight on Monday that it is seeking bankruptcy protection. The New York Times reports that it plans to close 15 of its 22 stores, including outlets in Chicago, Seattle and Las Vegas; however, its iconic Madison Avenue store will stay open.
‘Vitriol’: Coke billboards depicting same-sex couples have attracted “vitriol” from websites close to the ruling party in Hungary, reports Bloomberg. The pictures feature couples with the hashtag #loveislove, timed for Budapest’s popular Sziget Festival However, Coca-Cola refused to back down over the campaign, citing its values of equality and diversity.
Retiring: Victoria’s Secret CMO Ed Razek is to retire, reports the New York Times. The news comes a day after it emerged the lingerie brand has hired its first transgender model, as reported in yesterday’s Wake-Up Call. His duties will be temporarily covered by Ed Wolf, senior VP of brand and creative and Bob Campbell, VP of creative.
Promoted: WPP’s Wunderman Thompson is promoting Swift CEO and Co-Founder Liz Valentine to chief executive of the network’s west region, writes Ad Age’s Lindsay Rittenhouse. It also hired Isobar Chief Growth Officer Melissa Dorko as the chief growth officer of Wunderman Thompson North America and Carrie Philpott, managing director of Huge Atlanta, as president of Wunderman Thompson Atlanta.
News shake-up: New Media will acquire Gannett in a $1.38 billion deal that unites the two biggest U.S. daily newspaper chains, reports Bloomberg. The merged entity will own one-sixth of all local daily newspapers in the U.S. including USA Today.
Ad of the Day: Dwayne “The Rock” Johnson is starring in a new campaign for bottled water brand Voss, since acquiring a stake in the company. In the spot, by his own agency Seven Bucks, we see the megastar in the role of a modern business-type guy in contrast to his usual action-man image, sipping from a bottle while reading reports and writing at a desk. “Success doesn’t happen by accident,” he says. “In this life, you get out what you put in.” See the ad over at Creativity Online.
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