“A year and a half into his dismal attempt to turn around J.C. Penney, Ron Johnson was ousted as chief executive on Monday and replaced with his predecessor, Myron E. Ullman III, as the board searched for a new direction for the struggling retailer.”
“Seated opposite is Elizabeth von Guttman, 36, her partner in their previous publishing ventures, Industrie, the influential magazine for fashion insiders, and Ever Manifesto. Between them is Jonathan Wingfield, 39, the former editor of Numéro. Not present, but equally as involved are Thomas Lenthal, the art director of the art-and-erotica journal Paradis (and who is married to the Dior fine jewelry designer Victoire de Castellane), and the power stylist Marie-Amélie Sauvé. Collectively, the five-person editorial board represents the next generation of Annas, Graydons and Graces. Or so they hope.”
“Counting on the old adage that sales of affordable luxuries like lipstick and scarves climb in tough times, Hennes & Mauritz AB is rolling out a new chain called & Other Stories that focuses on upscale accessories.”
“It is fashion, darling. That is supposed to explain why luxury goods company shares command such high multiples. Italy’s Prada knows this only too well. It trades with an enterprise value that is 15 times its forward earnings before interest, tax, depreciation and amortisation.
“Black and white stripes are used to dizzying effect — on floors, tables, china, hose and myriad framed images. Not to mention nature’s lines on a baby zebra. Even the outside and inside walls of the gallery play games of geometry in black and white.”
“This 32-year-old from Billericay in Essex is now said to be the world’s highest-paid male model, and was the only man in the line-up of British supermodels who strutted their stuff during the closing ceremony of the London Olympics.”