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BoF Daily Digest | Fast Retailing bids on Link Theory, Beauty drops, Stealth wealth, Redefining luxury
Tokyo Theory Store, courtesy of Theory
Fast Retailing bids for Theory and Helmut Lang (Drapers)
Fast Retailing, the owner of Uniqlo, has made an offer for 68% for Link Theory Holdings, the company behind Theory and Helmut Lang.
U.S. Beauty Industry Sales Dropped 3.3% in 2008 (WWD)
The sales performance of the beauty industry in the US has dropped 3.3% from last year, “the biggest drop in sales among the global markets” studied by the NPD Group.
The wealthy turn stealthy as economy weakens (AP)
“As the economy weakens, the wealthy and the businesses that cater to them say it’s more common — even chic — to scale back extravagant spending and play down affluence.”
Luxury retailers seek to rekindle the desire to shop (MarketWatch)
“After a holiday season marked by steep discounting, the sector, whose clientele traditionally didn’t worry about price, finds itself forced to redefine “luxury” while searching for ways to lure paying customers back into their stores.”
