Web-Bargain Luxury Comes to Japan (WSJ)
"For decades, the model for selling luxury imported goods in Japan has been simple: plush surroundings, attentive service—and the 'Japan premium'... But the cozy system may be cracking, [thanks in part to] third-party websites to jump in with deep discounts."
Karl Lagerfeld cancels Paris show (Catwalk Queen)
"Instead, the designer is working on a new 'masstige' ready-to-wear collection in a bid to change the brand image into a more commercial line... The collection will be ready for A/W 2011, and will be sold online."
Richemont sales beat forecast, Asian demand soars (Reuters)
"Swiss luxury goods group Richemont's five-month sales jumped 37 percent, beating forecasts and confirming a rebound in the sector as wealthy Asians splash out again on top-end watches and jewellery."
Phillips-Van Heusen raises outlook (Reuters)
"Apparel maker Phillips-Van Heusen Corp posted an adjusted quarterly profit that surpassed analysts' expectations, helped by revenue gains in all three units, including its newly-acquired Tommy Hilfiger brand."
Anna Wintour Weaves Her Web (WWD)
"Just what Anna Wintour needed: another project. On the eve of New York Fashion Week and a mere two days before her brainchild, Fashion’s Night Out... she is unveiling the new vogue.com."