Murjani divests Gucci, Luxury succumbs to cycle, Choo’s schools, New home for NYFW, Macy’s cuts staff

Gucci spring / summer '09

Gucci Spring/Summer '09 ad campaign

Murjani to divest Gucci stores in India (Economic Times)
In an effort to recoup investments he’s made in the luxury sector, Mohan Murjani plans to divest the operations of Gucci in India.

Luxury goods succumb to the cycle (FT)
Despite some views to the contrary, the luxury industry is proving to be prone to cyclical ups and downs.

Malaysian shoe guru Jimmy Choo plans teaching academies
(Yahoo)
“Malaysian-born luxury shoemaker Jimmy Choo is planning a network of “Couture Shoe Academies” worldwide, with the first to open in his home country.”

A New Home for New York Fashion Week (New York Times)
After this month’s New York Fashion Week at Bryant Park, the event will move to the Lincoln Center for Spring/Summer 2010.

Macy’s to Centralize and Cut 7,000 Jobs (WWD)
As another sign that the retail landscape in New York is abysmal, Macy’s cuts 4% of their workforce or 7,000 jobs. (Subscription required)