Macy's to shut five underperforming stores (Reuters)
"Macy's Inc. said on Tuesday it was closing five of its namesake department stores, affecting about 307 employees, as it pares underperforming locations. Macy's said it would offer jobs at nearby stores to displaced employees when possible."
Prada: Not for Sale (Business Week)
"Prada SpA, the luxury company which has called off four attempts at an initial public offering in the last 10 years, denied a New York Post report that it is in talks to sell a stake to Financiere Richemont."
Armani opens first design hotel in March (Independent)
"More hotels are planned for Milan, New York, Tokyo, Shanghai and London, although no dates have been specified at this point... Overall, Armani 'plans to open at least ten hotels and resorts within the next ten years,' according to a statement."
Merci: A Concept That Slowly Spells Itself Out (NY Times)
"But Merci isn’t a pointed exercise in high-low, some clash of Chanel and Gap. It’s more like a place that reflects what people actually like and how they actually want to shop. Heartened not just by the selection but by a sense of aesthetic freedom, I found even more eccentric delights...'It’s like Colette for grown-ups'."
Venetia: Great Scott (Ponystep)
"Venetia Scott is the stylist who stripped away the impenetrable veneer of fashion in the early 90’s. Together with photographer Juergen Teller, her sense of spirit dismantled existing preconceptions of glamour and brought personality as well as earthy grit to dressing."