Burberry downgraded by JP Morgan, Uniqlo online in China, Apparel prices slip, theOutnet.com launches

Burberry Store, courtesy of Bloomberg

Burberry Store, courtesy of Bloomberg

Burberry cut to neutral at J.P. Morgan (WSJ)
“J.P. Morgan downgraded fashion company Burberry group to neutral from overweight, saying the group is now trading at a 5 percent discount to the luxury goods sector, compared to a historical average discount of 20 percent.”

Taobao Partners with UNIQLO to Grow China’s Online Fashion Market (Businesswire)
“UNIQLO, a new-style casual wear brand under Japan’s leading apparel retail group Fast Retailing Co., today announced a strategic partnership to launch the online sales business of UNIQLO’s casual wear products in China.”

Apparel Prices Slip in March, Up on Year (WWD)
“Recessionary pressures created volatility in retail apparel prices in March.” (Subscription required)

Net-a-Porter launches off price website (Drapers)
Net-a-Porter has launched its off price designer fashion website theOutnet.com, (which) sells around 200 luxury brands at prices discounted by up to 80%.”