Gucci Museo | Source: Oyster Magazine

Gucci Feeds Its Florentine Roots (IHT)
“The museum, housed in a 14th-century building in the Piazza della Signoria, is designed to honor the company’s leather goods legacy and to bring it into the 21st century by juxtaposing the innovation of bamboo-handled bags or luxe sports equipment with modern art… The idea of facing off past with present — under the slogan “forever now” — was the brainchild of Frida Giannini, the creative director of the famous brand.”

Paris fashion week strutting under cloudy economy (Reuters)
“Paris Fashion Week kicked off on Tuesday under a cloud of economic pessimism mixed with uncertainty about the creative direction of some of the world’s biggest fashion brands… After New York, London and Milan, Paris closes the season of presentations for next spring and summer with nine days of shows at which designers will be fighting for buyers and media attention amid worries about a possible economic slowdown.”

Cavalli Chief Sees Luxury-Goods Slowdown (Bloomberg)
“Luxury-goods companies should brace for weaker growth in 2012 asEurope’s sovereign debt crisis leads to a slowdown in spending, according to Gianluca Brozzetti, chief executive officer for designerRoberto Cavalli… ‘The luxury sector is not immune,’ CA Cheuvreux analysts including Pierre Lamelin, wrote in a note this month. They estimate that so-called organic sales growth across the industry will slow to 9 percent in 2012 from 15 percent in 2011.”

Hearst Passes 300,000 Monthly Digital Subscribers, Takes a Bow (All Things Digital)
“Hearst, which is about to sell its digital magazines via Amazon’s new tablet, wants the world to know it’s selling its digital magazines on plenty of other gadgets, too: The publisher says it is now racking up more than 300,000 paid digital downloads per month.”

20 Q&As: Gareth Pugh (Dazed Digital)
“In 1991, Gareth Pugh and Katie Shillingford were ten years old. They’re a bit older now – one is a successful fashion designer, and the other works as his stylist and senior fashion editor of Dazed. Graduating from Central Saint Martins in 2003, Dazed was the first to celebrate his work, featuring the red and white balloons from his BA collection on the cover in April 2004… Shillingford talks to her friend about life in 1991, and how the past 20 years have shaped their worlds.”

Roberto Cavalli, courtesy of H&M

Cavalli agrees to sell 30 percent to Clessidra (Reuters)
“Italian designer Roberto Cavalli has signed a letter of intent with Italian investment fund Clessidra to sell 30 percent of his fashion house.”

New Look EBITDA soars 10 percent (Drapers)
“Total group sales in the year to March 28, grew by 14.9 percent to £1.32 billion and EBITDA rose 10.2 percent to £217.6 million.”

What Is Sugar, Inc. and Why Is It Worth $31M in VC Funding? (Fast Company)
“Sequoia Capital announced yesterday that it will give a third round of cash to a quick-growing media network, Sugar Inc., bringing the Valley-based company’s total VC purse to $31 million.”

Gucci, Richemont Seek $4 Million Sanction Against Bank of China (Bloomberg)
“Gucci, along with Chloe SAS and Alfred Dunhill Ltd, a unit of Cie. Financiere Richemont SA, said in court papers filed last night that Bank of China has refused to surrender records of companies against whom they won a $4.3 million judgment in a fashion-counterfeiting case.”

H&M Home Collection, courtesy of H&M

H&M launches home textiles bid (WSJ)
As a way to buffer the lackluster fashion market, H&M has launched a textile business which was slated for a 2007 debut.

Ittierre to Sue Cavalli (WWD)
Ittierre SpA is suing Roberto Cavalli for his comments regarding their ability to turn the company’s bankruptcy around. (Subscription required)

Chanel Closing Two Japan Stores (WWD)
As the Japanese economy sinks further into recession, Chanel has announced it will be closing two of its stores there. (Subscription required)

Fashion’s invisible woman (Los Angeles Times)
“The average American woman is size 14. Why is the fashion industry still pretending she doesn’t exist?” asks The LA Times.

Fashion feels the pinch in London and Milan (CNN)
The economic crisis is casting a dark shadow over London and Milan fashion weeks.

Ad campaign by Annie Liebowitz, courtesy of the Gap

Gap earnings rise but sales fall (Drapers)
“Total international sales fell slightly to $505 million over the fourth quarter.”

US economy contracts 6.2% (FT)
“The US economy contracted by an annualised 6.2 per cent in the final quarter of last year, revised government figures showed on Friday, the sharpest quarterly contraction since 1982 and a sign of an even deeper recession.”

Reiss plans young, cheaper sub-brand (Drapers)
“Premium high-street chain Reiss is launching a younger, lower-priced sub-brand for Autumn to widen its customer base.”

Despite IT Bankrupcty, Just Cavalli Presents Collection (New York Times)
With the collapse of its manufacturing firm Ittierre, Just Cavalli forges on with a presentation in Milan.