H&M sales disappoint, LFW looks forward, Condé Nast prepares for cuts, Leibovitz for LV, Luxury and social media

Jimmy Choo for H&M, courtesy of H&M

Jimmy Choo for H&M, courtesy of H&M

H&M August sales disappoint (FT)
“Hennes & Mauritz, the world’s third-biggest clothing retailer by sales, on Thursday announced a 4 per cent increase in third-quarter earnings but August sales were worse than expected.”

Eye on London: Fashion Week at a Turning Point (WSJ)
“A three-year, $6.9 million funding package from the London Development Agency has helped fund the British Fashion Council’s efforts to raise the city’s profile, which include a showroom in Paris and programs to support emerging designers. But the package runs out next year, and while the agency plans to put forward another proposal, some doubt that the funding will be as generous.”

Condé Nast Execs Expected to Cut Budgets by 25% (Ad Age)
“Condé Nast is inching closer to slashing costs at its magazines, as editors and publishers begin preparing their 2010 budgets following meetings with Chief Operating Officer John Bellando.”

Annie Leibovitz to design for Louis Vuitton (ELLE UK)
“Iconic photographer Annie Leibovitz and British artist Damien Hirst are just two guest designers creating their ultimate piece of Louis Vuitton luggage for charity.”

Time for luxury to engage (Brand-e.Biz)
“Luxury brands are facing something of a dilemma when it comes to social media. On the one hand, everyone else seems to be at it, and they certainly don’t want to miss out. On the other, they’re all about luxury – and that means maintaining a certain distance from the consumer.”