BoF editor-in-chief Imran Amed recaps the week in the business of fashion.
http://www.youtube.com/watch?v=BmogH4tp0Vw Engaging The Millennial: Augmented Reality And The Wired Generation (Luxist) “Millennials have grown up linked by BlackBerries, Androids, IPhones, computers, IPods, and video games. This is the generation of Wii, Facebook, Twitter, free downloads, access to just about everything. How do luxury brands engage these mindsets?” J. Crew $10 Million Settlement of TPG Buyout Suit
Seen on the Street: Strangers as Style Icons (WSJ) “We’ve had the age of supermodels as fashion icons and the age of celebrities. Now comes the age of attractive strangers… BeautifulStranger, The Sartorialist and other photo websites are turning fashion’s focus from models to regular people.” Chinese luxury wannabes try to shake off “Made in China” image (Reuters) “‘I threw away
Hugo Boss European sales fall 13 percent (Drapers) “Total European sales at Hugo Boss fell 13% to €852m (£766m) over the first nine months of 2009 as the brand and retailer was hit by a turbulent northern European and Spanish trading climate.” M&S and Next fight back while Primark shines (Reuters) “Updates from three of Britain’s biggest clothing retailers should shed a little more light next week on
Polo Ralph Lauren sales and profits fall (Drapers) “Polo Ralph Lauren has notched up first quarter sales of $1bn (£588.6m), an 8 percent fall on the same period last year.” Luxury Brands Gain Momentum in China Despite the Slowdown (Seeking Alpha) “Even as luxury goods consumption has fallen worldwide, China’s appetite for high-end retail has shown a strong momentum.” Shoppers see a value in unique
Etail 3.0 takes customer service to the next level (Mad.co.uk) “The industry body for global online retailing, IMRG, predicts that by the end of this year, 20 percent of the UK’s £300bn retail business will be e-commerce. Fashion brands such as ASOS (originally “As seen on screen”), Net-A-Porter, jewellery and diamond specialists Blue Nile, optician business Glasses Direct and many others are providing