Buyer for Hartmarx, Luxury market woes, Fashion graduates outlook, Luxury challenges, Tommy gains

Barack Obama wearing a Hartmarx suit

Barack Obama wearing a Hartmarx suit

British firm offers stitch in time to save Barack Obama’s tailor (Guardian)
“About 3,000 midwestern factory workers at Hartmarx are lobbying creditors to accept a $128m (£79m) buyout by a London-based private equity firm, Emerisque Brands.”

Fire Sale: Once Towering, the Luxury Market Teeters (Time)
“The typical luxury consumer has traded in high-priced fashion for quality, durable goods at a lower price, according to a recent report by Bain & Company.”

The future of today’s fashion graduates (FT)
“The photographer Annie Leibovitz, in a jocular mood earlier this month, aimed to assuage the fears and raise the spirits of nervous graduates during her speech at New York’s Fashion Institute of Technology. And with good reason: for graduates, the future is about as bright as a wet weekend.”

Luxury market recovery seen slow (Reuters)
“At a time when just being able to afford the rent seems like a luxury, purveyors of high-end jewels, fashion and handbags are facing challenges like never before.”

Cool American chic, Tommy bets on Obama effect (Times)
“The company, which today reports a 21 percent rise in full-year sales to €1.6 billion (£1.39 billion), insists that it was able to survive a tide of anti-Americanism over the past decade inspired by George W. Bush.”