Take the money and run: Allen wins $5m for stolen image (Guardian)
"Several million dollars richer, and with his reputation more or less intact, Woody Allen successfully reached a last-minute settlement in a bruising legal battle with one of America's most headline-prone high-street brands." (Click here for Dov Charney's statement and here for BoF's previous article on Shockvertising)
Burberry Posts Loss on Discount Sales, Spain Impairment Charge (Bloomberg)
"The London-based maker of $1,295 checked Lowry handbags lost 5.1 million pounds ($7.8 million), or 1.4 pence a share, compared with profit of 135.2 million pounds, or 30.5 pence, a year earlier, according to a statement today."
DHL invests over HK$100 million in Fashion Competency Center (FinChannel.com)
"The investment is part of a series of initiatives by DHL to expand its presence in the fashion industry. Earlier this year, DHL launched Fashion Centers of Excellence in India and Sri Lanka. In April, the company inaugurated its Fashion-focused DHL Leadership Dialogue Series in Hong Kong which saw participation from leading global fashion brands."
M&S rejigs management as profits crash (Drapers)
"Marks & Spencer saw profits tumble from £1 billion to £604.4 million for the 52 weeks ended March 28, prompting a reshuffle of its management team which has resulted in the departure of director Carl Leaver."
Firms Get Creative in Tough Times (WWD)
"In a down economy, focusing on the details and leveraging new technology is more important than macro trends, fashion executives said at a small business conference." (Subscription required)