Fashion gloom, Lakshmi Menon, Online sales drop, Saks’ new investor, Ferragamo reports loss

The Meatpacking district in the 1970's, courtesy of the Bowery Boys

The Meatpacking district in the 1970's, courtesy of the Bowery Boys

Fashion in Dark Times (The Atlantic)
“During the fashion boom that began in the 1980s, the relationship between fashion and its customers was the same as the one between art and its rich, often unlovely patrons: all that money sloshing around led to excessive consumption, but it also created a fertile soil in which works of beauty and integrity could develop.”

This year’s model: How Lakshmi Menon put India in Vogue (Independent)
“Lakshmi Menon has entered the fashion stratosphere with her first solo editorial shoot in American ‘Vogue’. But her success raises one, deeply unsettling question: why is she the only South Asian model regularly strutting down the international catwalks?”

Online fashion sales fall on month (Drapers)
“Online sales of fashion rose 17 percent on last year in April but fell 2 percent against March according to the IMRG Capgemini e-Retail Sales Index.”

Della Valle Boosts Stake in Saks to 5.9 percent (WWD)
“Carlos Slim Helu has company. Tod’s SpA chairman and chief executive officer Diego Della Valle has doubled his investment in Saks Inc. in the past month and now owns 5.9 percent.” (Subscription required)

Ferragamo Net Slides 17 Percent (WWD)
“Italy’s Salvatore Ferragamo SpA reported a 17 percent drop in earnings in 2008 due to marginal revenue growth and a raft of new store openings.” (Subscription required)