Richemont stake in Prada?, Frugality fatigue, UK’s strong holiday, Vuitton’s savoir-faire, Nicola Formichetti goes Gaga

Prada Autumn/Winter 2009 | Source: Prada

Prada Autumn/Winter 2009 | Source: Prada

Luxury jewelry maker Richemont eyes Prada stake (New York Post)
“Prada is close to a tie-up with Swiss watch and jewelry maker Richemont that could shake up the luxury landscape worldwide, sources told The Post. The Italian fashion house — whose ambitions to expand have been hampered for years by a crippling debt load — is nearing a deal to sell about a third of the cash-strapped label to Richemont.”

Luxury retailers see shoppers fed up with ‘frugality fatigue’ spend (Telegraph)
“Fortnum & Mason, the luxury department store on London’s Piccadilly, saw like-for-like sales rise by over 10pc in the first three weeks of December, as the weak pound and “frugality fatigue” caused shoppers to splash out.”

U.K. Retailers Post Strong Holiday Results (WSJ)
“Next and John Lewis, a department store operator, are the first of the U.K.’s big retailers to report Christmas trading results, and the results point to a strong result for the sector as a whole. However, both warned that the outlook for 2010 is still tough.”

The public image: Louis Vuitton’s ‘Savoir-Faire’ campaign (FT)
“‘Heritage’ and ‘hand-crafted’ have become catchphrases for the luxury industry since the recession hit, as old names that had embraced fashion during the consumption bubble attempt to shore up their credentials as investment-worthy brands. No campaign has made the connection quite so obvious, however, as that of Louis Vuitton.”

Meet Mr. Gaga | The Stylist Nicola Formichetti (T Magazine)
“Whether or not you know him by name, you’ll recognize the stylist Nicola Formichetti by his aggressively modern looks (Lady Gaga’s metal orb, anyone?). When it comes to his personal style, Formichetti attributes his unrestricted creativity to his multicultural upbringing, which was shared between Italy and Japan.”