Tiffany & Co., Eight Million Open Tokyo Flagships (WWD)
Despite the economic doom and gloom, numerous foreign fashion retailers are opening stores in Tokyo.

Scent Notes | Brooks Brothers for Gentlemen (New York Times)
Brooks Brothers will introduce perfumes for both men and women.

German Retail Sales Decline as Turmoil Unsettles Consumers (Bloomberg)
Retail sales in Germany fell more than expected in September.

Bravo adds two fashion shows to schedule (Hollywood Reporter)
With Project Runway's future unclear, Bravo is slated to add two more fashion related shows to its lineup.

Tokyo, photo courtesy of earthcoincidence.blogspot.com.

Luxury purveyors fall amid darkening outlook (Forbes)
"Amid a darkening consumer spending outlook among the affluent," shares of luxury goods companies fell. 

LONDON, United Kingdom - In the latest sign of just how quickly consumer psychology is changing, Net-a-Porter yesterday sent an email blast to its huge customer database, offering a “discreet packaging service” to offset the conspicuousness and potential guilt associated with shopping in this, the most severe economic crisis in at least a generation.

Whereas previously the direct marketing email from the world’s pre-eminent online luxury fashion retailer would have been accompanied by a strong, aspirational fashion image, the latest email features whispering women in a 1950’s era photograph. The ad, while cleverly recalling the current fashion revival of the one-piece dress, focuses its message instead on the opportunity to continue to shop “and receive items in an unbranded recycled brown paper bag.”

The move to the discreet strategy is even more noteworthy when one considers that the deluxe packaging usually offered by Net-a-Porter has generally been thought of one of the secrets to the success of the online retailer, and certainly one of the defining moments in its customer experience. Indeed, fashion magazines are currently running two-page Net-a-Porter advertisements showing nothing but the company’s famous black boxes.

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Recession? Not in New Delhi's Luxury Stores (Time)
According to Time magazine, "analysts expect that New Delhi's luxury sector will be more resilient during this global slowdown than its equivalents in the U.S. and Europe."

NEW YORK, United States – Openly spreading the latest fashion gospel to an uninitiated crowd has always been anathema to the fashion elite. Until recently, this required fashion media to work a delicate balance between informing the mass public of the latest trends without being too direct as to make those new trends over-exposed and passé.

The internet — web 2.0 media and blogs, in particular — has been kicking down doors and fostering greater inclusion in most cultural fields. With fashion, the net has created unprecedented opportunities for fashion pedagogy, making old media look decidedly old-school.

So what’s an old media brand to do in this new environment? Men’s fashion bible GQ has responded with a web-offshoot called GQ Rules, possibly the greatest experiment in mass fashion teaching ever attempted.

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Official: Peter Som Exits from Bill Blass (Fashionista)
Due to NexCen's inability to sell  Bill Blass, Peter Som leaves the 40 year old American brand.

Auction Watch: A Bellwether For The Luxury Industry? (The Luxe Chronicles)
Though the top three luxury goods companies have posted better than expected sales, its "anyone's guess what the ultimate damage will be to the [luxury] sector."

Having fun with Moschino: A designer takes a bow (IHT)
The International Herald Tribune profiles the irreverent Moschino brand and its creative director Rossella Jardini.

Rich Shoppers Prefer Their Luxury Online (WSJ)
Despite luxury retailers' belief in creating customer experience for rich shoppers, a new survey reveals that 95% of people with an income of over $1 million prefer to shop online.

Peter Som, photo courtesy of Daily News.

Left on the shelf  (The Economist)
"American consumers are losing their urge to shop."

Claiborne Cuts Outlook as Firms Batten Down to Cope With Economy (WWD)
As a result of a "shut down in discretionary spending," Liz Claiborne has cut financial projections for 2009.

Usher, fashion icons sniff out fragrance market (MSNBC)
Usher, the American singer, and other storied fashion houses from YSL to Jil Sander launch new scents this fall.

Macy’s to Reinstate Monthly Sales Reports (WSJ)
As a measure to provide investors with as "much information and transparency" as possible, Macy's will temporarily re-instate monthly selling reports.

Toronto Eaton Centre, photo courtesy of Christopher Chan.

LONDON, United Kingdom – In recent conversations with global luxury business leaders and American fashion entrepreneurs, young designer brands and fashion executives in the UK’s high-street behemoths, the mood has been decidedly downbeat, with rapidly decreasing sales leading to increasingly desperate sale signs. Hiring freezes and spending cutbacks are in place almost across the board. 

Emerging fashion businesses I have spoken to are reporting significant decreases in orders for Spring/Summer 2009. Orders are being cut back or canceled altogether and there are reports of fabric mills in Italy and manufacturers in China facing dire straits as the brakes are put on consumer spending around the world. 

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Christmas could be worst for two decades (Drapers)Retailers are bracing for the worst holiday retail season in two decades.

Lunchtime Snap: The $1,000 Face Cream (WSJ)
Despite the economy steadily declining, La Prairie launched a new $1,000 face cream.

Crunch time for luxury mall launch (BBC)
Westfield London, "Europe's biggest inner-city mall" is set to open.

Gucci Dragged into Spy Investigation (DNR News)

According to DNR, "Gucci Group was pulled into one of Italy’s so-called “Spy-Stories,” stemming from an investigation on illicit access to the Ministry of Interior’s data bank.

Holiday retail scene, photo courtesy of Yogenfruz.

LONDON, United Kingdom – By now, it is well known that Japan, Western Europe and North America are already well into recessionary mode, but emerging markets have not been spared either. In India, so the wisdom goes, people spend for occasions but during this year’s Diwali Festival, usually brisk sales of diamonds have stalled, as consumers tighten their belts. In China, at a major luxury goods fair in Shanghai, accessibly-priced merchandise moved, but the most pricey items sat on the shelf.

Perhaps more than ever before, luxury businesses need to seize new business opportunities in emerging markets, but the market context there is changing so fast, it is hard to keep up with it all.

James Ogilvy has convened a great set of speakers to provide their perspectives on the opportunities presented by emerging markets against the backdrop of global economic doom and gloom at the annual Luxury Briefing Conference. Sheikh Majed al-Sabah of Villa Moda, Chris Colfer of Dunhill, and Tyler Brule of Monocle are amongst the experts scheduled to speak.

I am honoured to have the opportunity to present my own points of view on “What work’s where?”, focusing on case studies from in India and China.

For tickets to the annual Luxury Briefing Conference, contact Luxury Briefing. For a complete agenda and further information, please click here.