NEW YORK, United States — At a time when department stores are chopping themselves into mini-malls — J.C. Penney Co. being the most prominent example — Barneys is doing the opposite.
What’s a Store For? (NY Times) “But Perry, no doubt out of devotion to his wife, Lisa, a fashion designer who made the suit in the same double knit she uses for her mod dresses, decided to wear it that night. And it was an evening of some importance, for the Perrys were off to a party at Barneys — their first since Richard bought the renowned specialty store.” China Luxury Buyers Getting More Impulsive (WSJ)
Two Financiers Take Control of Barneys, Ending Its Debt Struggles (NY Times) “Barneys New York, one of New York’s bastions of high fashion, ended years of struggles with its hefty debt load by selling itself to the financiers Richard C. Perry and Ronald W. Burkle.” Global luxury goods sector continues to grow (Business Week) “Monitor Altagamma said Monday that luxury spending in China is expected to grow by 18
The Reality of ‘Fashion Star’ (WWD) “Fashion and entertainment is nothing new.But add commerce into the mix and you’ve got the novel ingredients for “Fashion Star,” the latest entry in the fashion-reality genre that made its debut on NBC Tuesday. Unlike some of its predecessors, this show landed with a concept that was compelling — too bad the clothes weren’t.” Lucy Yeomans quits Harper’s Bazaar for Net-A-Porter
Burberry targets India’s brand-aware middle class (Times) “Burberry, the British luxury brand, is poised to enter a joint venture to expand its presence in India, a market in which the ultra-rich are thriving because of a soaring stock market.” Phillips-Van Heusen 3Q profit up, raises outlook (AP) “Clothing maker Phillips-Van Heusen Corp. on Wednesday posted a jump in third-quarter earnings, boosted by a $30.4
Levi’s sees Q1 profits slashed (Drapers) “Net income at denim brand Levi’s sank by 50% to $48 million (£32m) in the first quarter ended March 1.” Istithmar provides ‘significant’ loan for Barneys (AP) “Istithmar World Capital says it has provided a “significant” level of additional capital to support upscale retailer Barney’s New York.” H&M March Same-Store Sales
Fashion Forward (Portfolio) “Moving ahead in the current economy will require fashion companies to be as flexible and innovative as they’ve claimed to be all along.” S&P cuts Barney’s credit rating, warns on liquidity (Reuters) Standard & Poor’s on Monday cut its ratings on Barney’s New York Inc to a deeply distressed level and warned that vendors may tighten terms or limit shipments to
Fashion: How Do You Sell in Paris? With Romance (The New York Times) In Paris, “unless the economic crisis worsens, designers are not likely to react in a meaningful way. That’s because men’s fashion has enjoyed an incredible run among young consumers in the last decade, with some of the strongest interest directed to tailoring.” The $43,000 Recession Suit (WSJ) With many retailers staying conservative amid the