François-Henri Pinault | Source: Coolspotters

PPR Chief to Run Gucci Himself (NY Times)
“The French luxury magnate François-Henri Pinault said… he would personally take charge of Gucci Group as he reorganizes its parent company to focus on the most profitable businesses. Robert Polet, who has headed Gucci since 2004, will be stepping down in a few weeks… Mr. Pinault also said Paul Deneve would replace Valérie Hermann as chief executive of Yves Saint Laurent.”

At Marc Jacobs, the Show Before the Show (NY Times)
“‘Sometimes, I don’t know how we got from there to here,’ Mr. Duffy said, referring to the early days of his 27-year partnership with Mr. Jacobs, when the two of them constructed sets themselves and went around ‘with a tin cup’ to friends. ‘Nobody has any idea what it takes to do all this,’ he added.”

Hermès Wants LVMH to Cut Stake to Free Up Shares in the Market (Bloomberg)
“Hermès wants LVMH to reduce its stake by more than half to free up shares on the open market… With the family controlling more than 70 percent of Hermès stock, ‘it’s not normal’ that LVMH Chief Executive Officer Bernard Arnault should hold 20.2 percent of the shares, Bertrand Puech said in an interview in Paris yesterday. ‘We want him to reduce his stake to less than 10 percent.’”

Cinderella Dreams, Shoestring Budget? No Problem (WSJ)
“If consumers can rent a movie by mail, or wheels on a whim, why not a couture gown should the occasion strike? That’s the concept behind Rent the Runway, a website launched in November 2009 that promises to give ‘every woman the opportunity to be Cinderella for the night’.”

Cast Your Vote for Calgary (NY Times)
“Imran Amed, the founder and editor of the popular Web site The Business of Fashion, has teamed with the renowned British leather craftsman Bill Amberg to create a new line of unisex totes designed with the globetrotting fashion follower in mind.”

Olivier Zahm Self-Portrait | Source: purple DIARY

For Fashion’s Bad Boy, No Secrets (NY Times)
“[With Purple] and often salacious photographic blog, purple-diary.com, Mr. Zahm, a former art critic, has become a demi-celebrity in the fashion world. He likens himself to Andy Warhol, who managed a similar feat with Interview.”

Discount luxury e-tailer BrandAlley to launch a crowdsourced platform (Independent)
“Discount luxury e-tailer BrandAlley is launching a new virtual platform… Taking a cue from the rising trend of crowdsourcing, Le Lab will allow BrandAlley Web users to vote on and decide which designs make it into production.”

Master of the Brand: Bernard Arnault (Forbes)
“Though LVMH quickly denied it would try to take control of the 173-year-old Hermès, the stage is clearly set. It may be a long drama: Three-quarters of the company is still in the hands of 200 Hermès family members. Winning them over could take decades.”

Adidas raises earnings guidance for 2011 (FT)
“Adidas, Europe’s biggest sports goods maker, gave its first indications of how economic recovery will extend into next year, saying it expects earnings growth of up to 15 percent in 2011 after raising its guidance on 2010 earnings for the third time.”

Window Dressing Warriors (NY Times)
“David Hoey [and] Linda Fargo, have dressed windows for 14 years… During that period, they have earned Bergdorf a reputation for decadent, intellectual art pieces that tickle both street crowds and museum snobs alike.”

Cotton Ball Illustration | Source: Cotton in Sector

Cotton Clothing Price Tags to Rise (NY Times)
“Cotton inventories had been low because of weak demand during the recession. This summer, new cotton crops were also depleted because of flooding in Pakistan and bad weather in China and India, all major cotton producers.”

Luxury group Hermès tells LVMH to back off (Business Times)
“‘The family has clearly and unanimously said: If you want to be friendly, Mister Arnault, you need to withdraw,’ Mr Puech, a fifth-generation descendant of founder Thierry Hermès, was quoted as saying in the [Le Figaro] newspaper.”

Preserving New York as a Fashion Capital (NY Times)
“The mayor announced a six-part initiative to ensure the industry’s growth in the next decade… intended to reinforce the city’s position as a magnet for emerging designers and to nurture the next wave of design, management and retail professionals.”

SVG posts gains as Permira rebounds (FT)
“A rebound in profitability at Permira’s biggest portfolio companies, including fashion houses Valentino and Hugo Boss, helped the private equity group’s biggest investor SVG Capital to report investment gains in the three months to September.”

Drawing Fashion (Wallpaper)
“It may be seen as a fickle industry, but while others have flippantly dropped the humble pen and paper in favour of photography, the traditional technique has not only endured but flourished in fashion circles.”

Roger Vivier Miss Viv | Source: Holt Renfrew

What The Rich Are Buying Now (Forbes)
“While most consumers aren’t returning to their pre-recession shopping patterns, there has been a rebound in luxury spending lately. Ultra affluent shoppers … have started to come out of hiding”

Miuccia and Me (WSJ)
“Bertelli, is the mastermind behind a label most people associate with his wife, Miuccia Prada, the avant-garde designer who has created global sensations out of industrial nylon black backpacks, wallpaper-motif pleated skirts, tiedyed dresses and thick high-heeled wedge shoes, to name just a few.”

Italy’s Della Valle ups stake in Saks to 7.1 pct (CNN Money)
“Italian businessman Diego Della Valle increased his stake in Saks Inc with a series of stock purchases this week, strengthening his position as the second-largest investor in the U.S. upscale department store operator.”

Fashion to hit Tokyo’s runways (Independent)
“Japan has produced some of the world’s most famous designers – from Issey Miyake to Rei Kawakubo, Yohji Yamamoto and Hanae Mori – and the Japan Fashion Week Organization is aiming to build on their reputations for a new generation of fashion geniuses at the same time as enhancing Tokyo’s reputation as the center of the fashion business in Asia.”

It bags are back as luxury brand sales soar by 60% (Daily Mail)
“Fashion insiders have long been predicting its death. But it seems there is still life in the old ‘It bag’ yet. Selfridges says that it has seen a 60 per cent increase in the past year in sales of ‘must-have’ luxury handbags.”

Bernard Arnault, Francois Pinault and Ralph Lauren, courtesy of Forbes

Fashion’s Billionaires (Forbes)
“If hemlines suggest whether the stock market goes up or down, most economic indicators say it’s likely we’ll be looking at longer skirts for the foreseeable future. But even if the economy doesn’t show us more leg for a while, the fortunes of fashion billionaires–who decide what we wear, where we buy it and what bag and shoes goes with it–should remain relatively flush.”

As Fashion Exports Drop, Hong Kong Refocuses on Design (Voice of America)
“Hong Kong’s Fashion Week features the usual parade of models on catwalks showing the latest designs, many of which end up in stores worldwide a year later. But as the global economic crisis lingers, exports of Hong Kong fashions are down more than 75 percent for January through April, from a year ago.”

CIT, Clients Scramble to Secure Lifelines (WSJ)
“Worries about the fate of CIT Group Inc. cascaded through the retail and manufacturing industries on Thursday, as companies stopped shipments and businesses worried about cash being tied up at the lender should it file for bankruptcy-court protection.”

Kellwood Extends Deadline For Debt Exchange Offer To Fri (WSJ)
“Kellwood Co. said it was unable to renegotiate and extend its bond issue that matured Wednesday and its board extended the deadline for acceptance of a proposed debt exchange until midnight Friday.”