Chinese buy $50b abroad, Hindmarch profits soar, Puma plays catch-up, Couture in Singapore, Fresh kicks

Queue outside Gucci store | Source: Info Seek China

Taxing luxury goods becomes a hot issue (China Daily)
“International luxury brands competing to expand their presence in China have to face the fact that Chinese consumers prefer to buy premium goods abroad instead of domestically.  The World Luxury Association released a report revealing the Chinese spent nearly $50 billion in Europe, four times what they spent on luxury goods in 2010 on the Chinese mainland.”

Anya Hindmarch profits leap (FT)
Anya Hindmarch, the luxury leather accessories group, more than doubled pre-tax profits in 2010 according to accounts filed with Companies House on Monday, but is rethinking its international expansion strategy. The privately owned designer, which is one of Britain’s fastest-growing smaller luxury goods companies, reported pre-tax profits of £830,000 ($1.3m) on revenues up 12 per cent to £20m in the year to December 31.”

Puma plays catch-up in U.S. as Q3 meets targets (Reuters)
“German sporting goods maker Puma said it had more work to do to attract customers in the United States after sales there fell in the third quarter… After rising initially, shares in the group, controlled by French luxury goods group PPR , turned negative and were down 2.5 percent at 229.85 euros.”

Bringing Haute Couture to Singapore (WSJ)
“Frank Cintamani’s business card carries seven logos, identifying him as everything from founder of an interior design firm to magazine publisher…For the past year though, it is what the 38-year-old has done for Singapore’s fashion scene that has drawn attention…Mr. Cintamani also heads Women’s Fashion’s Week, which includes an haute couture component that will be the first one to take place outside Paris.”

The enduring appeal of trainers (Guardian)
“Fortunately, in the absurdly cyclical nature of fashion, the past always comes back screaming… The spring/summer 2012 shows in New York and London suggest that sportswear is back. Take your pick from BMX, surf, ski or, on a subversive level, wide boy. I am enamoured of young Canadian designer Thomas Tait’s show in London, for which he had Nike trainers customised to go with his sleek cocoon coats and loose separates.”