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Gigi Hadid Named Model of the Year, Adidas Sells Rockport

And Puig has acquired a few new fragrance brands.
Gigi Hadid at the Fashion Los Angeles awards. Photo: Jason Kempin/Getty Images

Gigi Hadid looks stunning at the FLA awards. Photo: Jason Kempin/Getty Images

Gigi Hadid was named "Model of the Year" Thursday night at the Daily Front Row's first Fashion Los Angeles Awards. A-listers including Miley Cyrus, Rihanna, Katy Perry and Kanye West were in attendance to honor those awarded for their outstanding work. {Fashion Week Daily}

Following poor performance in 2014, Adidas has sold off Rockport's shoe business for $280 million to a new entity created by competitor New Balance and Berkshire Partners. {WWD}

Scottish designer Jonathan Saunders has secured an investment from Eiesha Bharti Pasricha, also a backer of the London-based brand Roksanda. The two have agreed on a fresh vision for the label and say they're confident the infusion of cash will set a foundation for its growth. {WWD}

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Niche beauty brands continue to be hot acquisition targets. Spanish fashion and fragrance company Puig has struck a deal with Fox Paine & Co to acquire the European fragrance brands Penhaligon's and L'Artisan Parfumeur. {WWD}