New Gucci store concept, courtesy of Gucci

Gucci Renews GG-Logo Purses Priced Below $3,000 Under New Chief (Bloomberg)
As reported late last year on BoF, “Gucci’s new chief executive officer, Patrizio di Marco, said he’s fighting the recession by cutting production, making fewer styles to reduce costs, and bulking up the luxury label’s mid-priced range.”

Lengthy Search for New CEO Dogs Barneys (WSJ)
“Barneys has spent more than a year without filling its top slot, an unusually long time for a CEO hire and one of the longest-running hunts for a new chief executive now going on anywhere.”

Tough Times for Small Luxury Goods Makers (Business Week)
“Bankruptcies are hitting small and midsize European companies that supply luxury houses with everything from hand-tooled leather to perfume bottles.”

Samsonite joins list of debt-for-equity groups (FT)
“Samsonite, the world’s biggest maker of suitcases, backpacks and carry-bags, is the latest to join the fast-growing list of private equity-owned companies that have run into trouble and needed to be saved by swapping debt for equity.”

Giles Deacon to quadruple sales (Drapers)
Giles Deacon has announced a business partnership with Castor Srl which will help him to achieve the business aspirations he first mentioned to us in our Inside the Studio video series in February. (Watch video here)

EBay May Sell More Luxury Goods Under Draft EU Rules (Bloomberg)
“EBay Inc.’s traders may have fewer restrictions on selling luxury goods under European Union regulators’ plans to break down barriers to Internet sales.”

April clothing sales strongest since 2006 (Drapers)
“Retail like-for-like sales rose 4.6% in April, with clothing showing the strongest growth since late 2006, according to the British Retail Consortium (BRC).”

Barneys aiming to close 2 stores (Reuters)
“As the impact of the global recession weighs in on wealthy Americans, high-end retailer Barneys New York Inc aims to close two of its seven department stores, the Wall Street Journal said, citing people familiar with the matter.”

White House Correspondents’ Dinner: Glamour Is Back! (Huffington Post)
Donatella Versace writes her first blog entry on the White House Correspondents’ Association dinner.

Oscar fashions give no hint of the weak economy (Newsday)
Despite tough times, no one was slumming it at the Oscars.

Factors Drop Barneys Over Sale Uncertainty (WWD)
Factors are no longer approving spring orders from Barneys over its uncertain future. (Subscription required)

London’s ‘cool girl’ starts growing up (IHT)
The perpetual focus on an ever-renewing young generation seems to be the mark of British fashion: always the hip chick, never the adult. But there are signs this London autumn 2009 season that the role model is growing up,” reports IHT.

J. Crew’s Madewell Launching Stores (WWD)
Despite the economy, J.Crew’s Madewell will open more stores. (Subscription required)

News has been trickling in all week about confusion around the strategic direction being taken by Barneys and today, the New York Times is reporting that its highly respected CEO Howard Socol will resign next week. This is an abrupt change of tone in the buzz around Barneys, which is arguably the most influential and forward thinking luxury and fashion department store chain in America today.

Bergdorf Goodman, of course is a venerable store in its own right, but it only has one location in New York and  its sister company, Neiman Marcus, based in Dallas, is far removed from the New York fashion hub. Yes, Neimans serves an unequaled luxury customer, but it just does not have the fashion cred that Barneys has managed to build in recent years.  Barneys’ affable Fashion Director, Julie Gilhart, has been a champion of emerging talent and amongst others, is credited with recognising the talent of the Proenza Schouler boys, buying their graduate collection from Parsons.

But, is Barneys about to become a basket case?

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Everyone’s talking about London’s young designer set — and the news is not good.

The media has been buzzing about the wave of  familiar faces who will be missing from the front rows this season. Julie Gilhart, Ron Frasch, and Ken Downing won’t be making it to London Fashion Week this season to represent major American department stores Barneys, Saks and Neiman Marcus, respectively. For Julie, a fervent supporter of London’s emerging brands, it is the first time in 20 years that she won’t be here.

These buyers have told the press that unless London’s designers produce something very special or have strong existing relationships with US retailers, they will have a hard time making up for the spiralling effect that the strong pound has had on their prices once converted to American dollars.

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