Luxury leads recovery, Asos launches US site, Italians invest in India, Fast Retailing sees decline, Runway top ten

Neiman Marcus, Boston | Source: ICSC

US luxury stores outperform rest of retail sector (FT)
“US luxury department stores outperformed the rest of the retail sector during September, underlining the extent to which more prosperous shoppers are leading the recovery in consumer spending.”

Asos launches US site (Retail Week)
“Asos is promoting the new website, Us.asos.com, by giving US customers free delivery. It plans to launch French and German versions of its site later this year. With Asos delivering to 167 markets, international sales account for 37% of total turnover.”

Italian Luxury Firms To Invest in India Over 5 Years (Fox Business)
“Top Italian luxury companies will invest at least EUR150 million in India setting up an additional 50-60 stores over the next five years, the executive director of Italian trade group Fondazione Altagamma said.”

Fast Retailing Forecasts 17 percent Profit Decline (Bloomberg)
“Fast Retailing Co., Asia’s biggest clothing chain operator, forecast full-year profit will fall 17 percent because of lower same-store sales in the first half.”

The Top 10 on the Runways (WSJ)
“A top 10 list from the Spring 2011 shows. Milan and Paris dominate the list, as they do the world of fashion and luxury production, but the highlights include both fashion’s heavyweights and some surprises.”