Revamping Richemont, China rules out luxury tax, Online boomers, Theyskens’ next act, Paris looks to the past

Salvatore Ferragamo Autumn/Winter 2010 | Source: Ferragamo

Salvatore Ferragamo Autumn/Winter 2010 | Source: Ferragamo

Revamping Richemont’s Wardrobe Search The Source (WSJ)
“A logical alternative to Prada, which has denied reports about selling a stake [to Richemont], would be Ferragamo, which has been mulling an IPO for a couple of years. The Italian company offers an opportunity for diversification–with a portfolio ranging from footwear and clothes to perfumes and accessories it could complement Richemont’s strengths.”

MOF rules out luxury goods tax (The China Post)
“Finance Minister Lee Sush-der assured foreign investors yesterday that there were no plans to impose a special tax on luxury goods… Lee said that while a tax on luxury goods had been considered, it would be ‘impossible’ to implement in the current economic climate.”

Boomers consuming more media (Biz Report)
“Don’t look to Millenials as the touchstone for how much time is spent online. According to a recent report from CPH Research baby boomers, those between age 42 and 64, are spending more time online and are least willing to give up Internet access.”

Art Couture: Theyskens’ Next Act (WSJ)
“Often heralded as one of the greatest designers of his generation, Olivier Theyskens has seen his wispily layered clothes enshrined at the Metropolitan Museum of Art and worn to the Oscars by Madonna. It’s hard to fly higher than that in fashion… Yet Mr. Theyskens has had a hard time keeping jobs.”

In Paris, Tempted by History (NY Times)
“Haute couture, what remains of it, is a little like a fragile ecosystem under siege by modern tastes and habits, and by couturiers who are stuck in the past.  Most women don’t pay attention to haute couture, and the reason isn’t the money… it’s because the houses don’t give people a reason to care and at least follow along.”