Escada in talks with insolvency experts (Drapers)
"German womenswear brand Escada may cease to trade as it teeters on the brink of insolvency, according to its chairman Bruno Saelzer."
Sales ring the alarm on what defines luxury (Gulf News)
"Inventory-driven business models now rule much of the high street apparel on offer. But the heavily discounted sales across town come to an abrupt end when you stumble upon the highest-end shops."
Cartier courts next generation (AP)
"Christian Dior, Hermes, Lalique, Louis Vuitton and sunglass maker Luxottica also participated in The Design and Marketing of Luxury Goods, a joint interdisciplinary course at Columbia Business School and Parsons The New School for Design. Students had access to top company executives, scoped out the competition and rated the overall customer experience."
Seoul emerges as new hub of luxury business (Korea Herald)
"Korean companies have recently been rushing to link up with foreign luxury brands in order to attact the kind of customers who love to show off expensive products with prestigious logos. The local retail market has no exception, with foreign luxury houses quickly expanding business and introducing high-end culture from the West."
Retail sales rise 1.4% in June (Drapers)
"Like-for-like retail sales rose 1.4% in June when fashion sales were boosted by the hot sunny weather and high street discounting."