Retail rents to drop, Loewe appoints new CEO, Recession-proof handbags, India repositions

Empty retail space

Empty retail space

Retail rents to drop 20% by end of next year (Drapers)
“Retail rents are expected to drop by almost a fifth by the end of next year, as struggling retailers demand cheaper leasing deals in the recession.”

Loewe appoints Lisa Montague as CEO (Drapers)
“Lisa Montague will be reunited with designer Stuart Vevers when she joins luxury brand Loewe as chief executive later this year.”

India tells foreign luxury brands to wait a decade (Mid Day)
“With local partners pulling out as franchisees of international luxury brands, and a non-luxe label being the only one to arrive in India this year, Shweta Shiware asks if the biggest names in luxury failed at mapping the Indian buyer’s mind.”

Mitzi: the handbag that’s recession-proof (Independent)
“Financial analysts and fashion experts alike have been predicting the death of the It-bag for months, but it seems that designer handbags have risen from the grave, despite the economic sickness threatening many high-end fashion brands.”