BlackRock bets on Saks (New York Post)
"BlackRock raised its stake in Saks to 12.7 percent, bolstering the investment fund's profile among financial and retail heavyweights with a big bet on the luxury chain. The giant money-management firm said it bought 20.3 million shares in the owner of Saks Fifth Avenue 'in the ordinary course of business.'"
House of Fraser celebrates Christmas cheer (Times)
"Surging sales of own-label brands helped House of Fraser, the UK’s third-biggest department store group, to a strong Christmas. Like-for-like sales rose 7.1 per cent in the eight weeks to January 2 — more than making up for a 1.5 per cent fall during the same period last year."
Inspired, or fashion theft? (Independent)
"While stores have long looked to the catwalk for inspiration – top designer's collections barely make it down the runways of London and Paris before lookalikes appear on the rails of mainstream stores – such widespread copying of high-street rivals is a relatively recent phenomenon."
Luxury Retailers, Meet the New Money (Motley Fool)
"There's something of a bait-and-switch going on. In effect, these companies are transforming the notion of product exclusivity, which had been established largely through high price, to a model in which exclusivity is created by the appeal of finding that cheap treasure."
Top designers to highlight biodiversity loss at UN fashion show (Independent)
"Top designers including Diane von Furstenberg and John Rocha will hold a catwalk at the European headquarters of the United Nations on January 21 to appeal against the loss of biodiversity."