Bulgari under fire for global ambition (FT)
In a globalised world, the relatively small scale of many Italian companies... is proving a problem that is shared by Italian industry at large... 'The risk to independent brands is that if they do not have revenues of around €3bn [$4bn], they will probably lose market share.' This is because it is too difficult to compete with companies such as LVMH.
A new day for Valentino couture (Telegraph)
"The task before Chiuri and Piccioli - to take couture and ready-to-wear to the next generation - was seen by many as a poisoned chalice... Alessandra Facchinetti's designs were judged too directional for established customers and yet not appealing enough for a new audience... Now young Hollywood in particular is embracing Valentino."
Luxury brands need more of a woman's touch (Independent)
"Even Arnault wants more women at the very top: a third non-executive female director will be joining in May and more will follow. He's given Chantal Gaemperle, the head of human resources and synergies for the group, the task of helping push the proportion of female executive committee members to 35 per cent by 2012."
China Split Between Conspicuous And Sophisticated Shoppers (Jing Daily)
"Currently, China’s luxury consumption remains in the 'conspicuous consumption' or 'competition in consumption' stage. Of course, there are some consumers who are highly educated and erudite, some rich second- and third-generation individuals, and those who have had experience living abroad — all of whom have learned how to enjoy luxury goods."
Fashion designer crackups: Is industry’s pace too relentless? (Washington Post)
"You are on a very, very tight schedule. It’s like a factory putting out an aesthetic. There is no space for imperfection.' The shift occurred during the past two decades, when business tycoons took over established family-run houses and — with the help of bright, young talents — transformed them into publicly traded billion-dollar global luxury brands."