Luxury’s new king, Barneys and Holts?, Escada deadline, Samsonite bankruptcy, Norma Kamali’s internet push

Francois Henri-Pinault and Salma Hayek

François-Henri Pinault and Salma Hayek

The new king of luxury (Fortune)
“Since taking the reins of one of the world’s biggest fashion empires, François-Henri Pinault has put his stamp on Gucci, YSL, and Puma. Now the luxury business is putting him to the test.”

Barneys Said to Weigh Debt Swap Amid Buying Interest (Bloomberg)
Barneys New York is weighing a debt restructuring or bankruptcy filing that may wrest control from the Dubai government-owned firm …Hedge fund Perry Capital LLC, has been approached by Holt Renfrew, the Toronto-based department-store chain, about a joint offer for control of the 86-year-old luxury retailer, one of the people said.”

Escada needs to find buyer by early November-source (Reuters)
“Insolvent luxury fashion house Escada  has to find a buyer by early November because its financing will run out by December at the latest, a person close to the situation told Reuters.”

Samsonite Unit Seeks Chapter 11 (Wall Street Journal)
“The U.S. retail unit of luggage maker Samsonite Corp. has filed for bankruptcy-court protection with the goal of cutting its store count in half in a bid to boost earnings.”

Fashion Diary: Norma Kamali reinvents the runway (Los Angeles Times)
“Not only is the economy a challenge, so is the Internet. The speed with which photos of runway looks travel around the world is making the whole seasonal exercise of fashion weeks seem more and more ridiculous. So it’s no surprise that designers are rethinking how they can use the Internet to their advantage, including Norma Kamali, whose presentation titled “The Democratization of Fashion” will be held on Sept. 17 at the Soho Apple store.”