Luxury’s breaking point, Versace’s loss, Blass hires, Topshop goes West, Richemont revives

Hermès A/W 08

Hermès A/W 08 advertising campaign

Luxury’s Breaking Point (CNBC European Business)
“MasterCard SpendingPulse reported luxury goods was the worst hit category in the final two months of 2008, with year-on year sales nosediving 34% between 1 November and 24 December in the US.” 

Versace Profits Fall 30 Percent (WWD)
Versace feels the effects of the downturn with a 30 percent decrease in net profits. (Subscription required)

Bill Blass is Hiring (Fashionista)
“Peacock International Holdings LLC, the company that bought the Bill Blass Ltd name at the end of last year, is officially looking for a creative director to bring the brand back to the runway.”

US fashionistas go wild as Topshop gets set to open in Manhattan (The Observer)
Philip Green lays on supermodels, socialites and swanky dinners to celebrate the belated arrival of a UK high street favourite”

Richemont Said to Hire Wikstrom to Revive Chloe (Bloomberg)
Martha Wikstrom will head up a new unit at Richemont dedicated to creating stronger competition.