Bidding for Lacroix, LVMH optimistic, Galliano licensing deal, High street predictions, Polyvore designs

Christian Lacroix

Christian Lacroix

Bidding for Lacroix Fuels Hopes of Survival (WSJ)
“Italy’s Borletti Group, an investment company that owns stakes in Europe’s La Rinascente and Le Printemps department stores, is one of four firms to have submitted bids for Christian Lacroix fashion house, raising hopes that the struggling French brand won’t be closed down.”

LVMH 1H Net Pft -23% On Distributor Destocking (WSJ)
“LVMH Moet Hennessy Louis Vuitton SA Monday reported a bigger-than-expected 23% decline in first-half net profit, despite a 0.2% gain in sales, hurt by heavy destocking at its third-party distributors at its wines & spirits and Watches & Jewelry businesses. Still, the Paris-based luxury goods and beverages group predicted it will increase market share in general.”

IT Holding unit signs Galliano fashion licence (Reuters)
“A unit of Italian fashion group IT Holding, currently in special administration, has signed a licence agreement with designer John Galliano to produce and distribute its Galliano menswear and womenswear lines.”

High street revival `unsustainable` (Drapers)
“A leading credit ratings agency has dismissed recent signs of life on the high street as unsustainable, predicting that the downturn may continue through to 2011.”

Site Wins Fashion Fans by Letting Them Design (New York Times)
“The fashion magazines Vogue, InStyle and Lucky may rule the newsstand racks. But online, they are also-rans, overlooked by the fashion-conscious in favor of Polyvore, an upstart Web site far from Fifth Avenue.”