J.Crew’s $3b buyout, Haves and have-nots, Lagerfeld for Macy’s, Guess beats expectations, Miyake’s magic

Mickey Drexler | Source: W Magazine

J.Crew agrees to $3bn takeover (FT)
“J.Crew, the US retailer with a preppy style, has agreed to be acquired by TPG Capital and Leonard Green & Partners in a $3bn deal… The two funds have agreed to pay $43.50 per share in cash for J Crew.”

Divergent paths for US consumers as holidays near (AFP)
“Americans appear to be shaking off the gloom heading into the holiday season with recession no longer hanging over them, but the mood is dampened by a growing split between the haves and have-nots, say analysts.”

Karl Lagerfeld Developing Lower-Priced Line for Macy’s (Media Bistro)
“Designer Karl Lagerfeld will soon unveil a fashion venture with Macy’s… for an affordably priced ready-to-wear line that will range from jeans to gowns. The new line, slated to launch with a collection for fall 2011, is also expected to include a major online component.”

Guess sees full-year above view (Reuters)
“Apparel company Guess Inc reported a quarterly profit on Tuesday that far exceeded Wall Street expectations helped by robust expansion overseas, sending its shares up 8 percent.”

Magical Reality in 3-D From Issey Miyake (IHT)
“Last week, the Japanese designer opened an exhibition called ‘Reality Lab’ in his 21_21 Design Sight cultural center in Tokyo… Other work in the show is by photographers, scientists and a planetary physicist.”