Burberry profit tops forecast, steps up expansion (Reuters) "Luxury goods group Burberry beat forecasts with a 23 percent rise in annual profit, boosted by sales of coats and leather goods, and said it was stepping up its expansion despite a tough economic backdrop." Louis Vuitton lands in London (Guardian) "Welcome to the new Bond Street palace of Louis Vuitton, which takes the dark art of luxury retail to a new level. For starters – despite the racks of handbags, luggage and clothes – this flagship, which opens to the public on Friday, is not – repeat not – a shop." The Japanese love affair with fast fashion (Philippine Star) "The aggressive marketing and advertising campaigns employed by the fast-fashion brands…
Discount Store Is New York Beachhead for Nordstrom (NY Times) “After more than a century, Nordstrom, the upscale department store chain from Seattle, will make its Manhattan debut… But don’t expect $4,000 dresses. Expect 25,000 pairs of discounted shoes, and an automated checkout line more at home in a supermarket than a purveyor of luxury goods.” Jane Shepherdson: why we want what she’s wearing (Times Online)
Needle and Thread Still Have a Home (NY Times) “How is the garment district like a coral reef? A coral reef, as Animal Planet instructs us, shelters diverse species of sponges, snakes, clownfish and barracudas. So does the garment district.” Why Does This Pair of Pants Cost $550? (NY Times) “Even in a season when designers made no secret about reining in prices… it is still possible to walk into a store and
Levi’s Shoots for the High-End Hipster (WSJ) “The 157-year-old company is trying to reinvent itself as not just a purveyor of basics but as an edgier brand suitable for the fashion cognoscenti.” Polo Ralph Lauren: The Winning Streak Continues (Smart Trend) “Shares of Polo Ralph Lauren traded near a new 52-week high yesterday, touching a price of $90.89. Approximately 758,000 shares traded hands yesterday vs.
Europe laments craftsmen’s demise (FT) “Europe’s luxury goods makers have warned that numbers of skilled craftsmen – prized by dressmakers, perfumiers and watchmakers for their expertise – are dwindling rapidly as suppliers have sourced more production from Asia.” Ready for the next chapter in e-tailing (FT) “E-tailing is no longer a luxury for the luxury industry – it’s a necessity… [Richemont] became the