Luella Looks To The Future (Vogue)
“AFTER the announcement yesterday by Luella Bartley that her Luella label had ceased trading, the designer has now begun the process of seeking a new backer in order to continue her eponymous label.”

Fashion industry downsizes: layoffs looming at Zac Posen, Gucci (NY Daily News)
“It’s a fashion nightmare — and no, were not talking about Lady Gaga’s latest ensemble. Buzz in Seventh Avenue showrooms is that Zac Posen and Gucci are about to have some major layoffs. As of Monday, Posen vice president of communications Karen Duffy’s position was officially ‘eliminated’.”

For cashmere capitalist, dignity is bottom line (Reuters)
“Motivated at age 15 by the tears in his father’s eyes when the former farmer was forced to accept a factory job, Brunello Cucinelli is anything but an orthodox capitalist.”

Changing face of the market (Times)
“Burberry has marched into the FTSE 100. Sir Philip Green has taken his Topshop chain to the United States. London Fashion Week has regained its lustre. Recession or no recession, fashion remains one of our leading exports. But on home turf life has been tough.”

Betting on the Return of the Big Spenders (WSJ)
“Roughly a year ago… There was talk of a shift away from conspicuous consumption and a newfound appreciation for the virtues of friends, family and home cooking. That was then. On Nov. 4, an auction of Impressionist and modern art at Sotheby’s brought in $182 million, well above estimates.”