Hermès A/W 08 advertising campaign

Luxury’s Breaking Point (CNBC European Business)
“MasterCard SpendingPulse reported luxury goods was the worst hit category in the final two months of 2008, with year-on year sales nosediving 34% between 1 November and 24 December in the US.” 

Versace Profits Fall 30 Percent (WWD)
Versace feels the effects of the downturn with a 30 percent decrease in net profits. (Subscription required)

Bill Blass is Hiring (Fashionista)
“Peacock International Holdings LLC, the company that bought the Bill Blass Ltd name at the end of last year, is officially looking for a creative director to bring the brand back to the runway.”

US fashionistas go wild as Topshop gets set to open in Manhattan (The Observer)
“Philip Green lays on supermodels, socialites and swanky dinners to celebrate the belated arrival of a UK high street favourite”

Richemont Said to Hire Wikstrom to Revive Chloe (Bloomberg)
Martha Wikstrom will head up a new unit at Richemont dedicated to creating stronger competition.

 
Italian Luxury Brands See Potential in Brazil (WWD)
With its growing GDP and rising number of affluent people, Brazil is an attractive market for luxury brands.

Bill Blass’s New Owner Plans to Revive Couture Line (WSJ)
Peacock International Holdings LLC, the new owner of Bill Blass plans to revive the line “within nine to 12 monthw.”

Parent Company, a Retailer, Files for Bankruptcy (NY Times)
“A rash of retailing bankruptcies is expected in the new year, but as the clock winds down on one of the weakest holiday shopping seasons in decades, the fallout has already begun.”

French fashion designer Ted Lapidus dies at 79 (AP)
Ted Lapidus, the legendary French designer who favored chic, unisex looks, died at a hospital in Cannes.

Wal-Mart, courtesy of Ravi Patel

Retail Winners and Losers This Holiday Season (Seeking Alpha)
“Wal-Mart is the only real retail winner during the 2008 holiday shopping season, which is presaging more retail bankruptcies in the year ahead,” reports Seeking Alpha.

A long swan song for the Blass House (IHT)
It was the beginning of the end when Bill Blass sold his eponymous label in 1999.

Veggies invading the skin care market (IHT)
The supermarket produce section is the new source of ingredients for beauty companies.

Chanel to cut 200 jobs as the rich tighten their belts (The Telegraph)
As the wealthy tighten their belts, Chanel is expected to cut 200 jobs in France.

Bill Blass, photo courtesy of Bill Blass.

Bill Blass Couture to Close (WSJ)
Once the go-to house for American socialites and Hollywood elite, Bill Blass Couture will close.

Nike picks ups its pace  (Just-style)
Strong performance in international markets has helped the sportswear giant achieve a 9% profit increase in the second quarter. 

Max Azria: The Show(s) Must Go On (WSJ)
Although the BCBG Max Azria Group has taken a financial hit like so many other fashion companies, the company will still stage three runway shows in New York.  

Chanel Cancels Mobile Art Tour (WWD)
Due to the bad economic climate, Chanel cancels costly traveling Mobile Art exhibition.

NEW YORK, United States - In recent days, NexCen has experienced a meltdown unlike anything the fashion world has seen, leaving Bill Blass,  its star brand, in play as vulture investors circle to assess what value remains. NexCen’s failure to disclose a $30m debt that must be paid back by October has sent its stock reeling and could very likely result in the company going bankrupt. Its CEO Robert D’Loren’s job is at stake and the company’s investors and other stakeholders are furious.

The dramatic turn of events underlines the fact that even culturally important brands like Bill Blass can suffer collateral damage in the new era that has brought fashion and finance together.

In February, Lauren Goldstein Crowe investigated NexCen’s business model in the FT. Having spent several days with D’Loren and his team, Lauren saw the inner workings of the company, its team dynamic and business model. I asked Lauren if she would answer a few questions about what might lie behind the dramatic headlines and what could be in store for NexCen in the weeks to come.

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A couple of weeks ago in New York I caught up with Elana Posner, President of Peter Som, over lunch. Amongst a flurry of topics, we touched (briefly) upon the gossipy item in WWD on July 6th which leaked the news that Peter was soon to be appointed as the new womenswear designer for Bill Blass, owned by NexCen brands.

What I didn’t know at the time was that Michael Bastian would be designing the men’s collection. So, I was excited to hear the news confirmed today, not only because it could finally be discussed on The Business of Fashion, but also because these are inspired choices made in part by NexCen. What a pleasant surprise! It’s been a good week for Bastian as he was also confirmed as one of the finalists for the CFDA/Vogue Fashion Fund.

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