Crocodile skin Birkin bag, courtesy of Hermès

Hermès breeds own crocodiles in Australia for luxury handbags (Times)
“Hermès chief executive Patrick Thomas admitted this week his French fashion house has resorted to farming crocodiles in Australia to keep up with the increasing international demand for their world famous crocodile skin handbags, including the popular Birkin design.”

Prada Approached on Investment (WSJ)
“Prada SpA has been approached by potential investors seeking a minority stake in the Italian fashion house, a company spokesman said Thursday.”

Jones Apparel sees business steadying (Reuters)
“Jones Apparel Group Inc is seeing business stabilize and does not expect markdowns in the holiday shopping season to be deep as they were a year earlier, its chief executive said on Thursday.”

Department store Sale dates dismay indies (Drapers)
“Department stores will lead the high street into full-blown summer Sales next week, dealing a hammer blow to indies, which have seen sales fall back significantly in May.”