Adidas Net Profit Drops 65 percent (WSJ) “Adidas reported a sharper-than-expected 65% fall in quarterly net profit Wednesday, but said it expects a rise in 2010 sales and earnings.” H&M plans two-for-one stock split (Reuters) “The world’s third largest fashion chain by sales said on Wednesday its board would propose the split at its annual shareholders’ meeting on April 29 and it would take effect
End of a fairytale: Christian Lacroix fashion house to strip down (Guardian) “Christian Lacroix, the celebrated French designer whose fantastical creations and luxurious image captured the decadence of its age, was told today that the fashion house he founded over two decades ago is to cease making haute couture.” J.C. Penney Is Betting Big By Adding A European Flair (WSJ) “J.C. Penney Co.may be making its biggest
No firm buyer seen for Christian Lacroix fashion house (AFP) “The outlook for beleaguered French couture house Christian Lacroix looked bleak at the weekend after potential buyers let a deadline pass to deposit cheques ahead of Tuesday’s bankruptcy court hearing.” Upscale Retailers May Get Lift from High-Income Shoppers (USA Today) “The holiday shopping season may just prove a little merrier than expected.
One long-time designer is conspicuously absent from the Paris Fashion Week schedule for Spring/Summer 2010. Indeed, Christian Lacroix’s Haute Couture show in July (pictured above) was billed as possibly his last fashion show ever. But, while rumours continue to swirl of would-be white knight investors to save Lacroix — the latest is Hassan bin Ali al-Nuaimi, a nephew of the ruler of Ajman — BoF investigates the wider
Armani Names Group of Lieutenants But Succession Questions Linger (WSJ) "Giorgio Armani, after recovering from a months-long bout of hepatitis, slightly loosened his grip on his fashion empire Wednesday, naming one of his most-loyal executives as deputy chairman, as part of a management reorganization." View the Armani S/S 10 runway video here. Sheikh's position strengthens in Lacroix auction (FT) "The sheikh of Ajman yesterday emerged as the frontrunner to buy Christian Lacroix, the loss-making French fashion house, after Italy's Borletti Group dropped out of the auction." Hugo Boss signs Graeme Black to drive womenswear (Drapers) "Hugo Boss has named London-based designer Graeme Black as creative consultant for the Boss Black women’s collection." Gucci Snake Bag Draws Ire in China as…
Prada bankers contact Richemont on stake-paper (Reuters) “Bankers for Italy’s Prada fashion house have contacted Compagnie Financiere Richemont SA about the Swiss company taking a stake in it, la Repubblica newspaper said on Saturday. In an unsourced report, the Italian daily said the banks, including Intesa Sanpaolo SpA and UniCredit SpA, would like an industrial partner for Prada with a stake of up to 30.”
Bidding for Lacroix Fuels Hopes of Survival (WSJ) “Italy’s Borletti Group, an investment company that owns stakes in Europe’s La Rinascente and Le Printemps department stores, is one of four firms to have submitted bids for Christian Lacroix fashion house, raising hopes that the struggling French brand won’t be closed down.” LVMH 1H Net Pft -23% On Distributor Destocking (WSJ) “LVMH Moet Hennessy
Bernard Krief Consulting bids for Christian Lacroix (Reuters) “Turnaround investment group Bernard Krief Consulting is planning to make an offer next week for cash-strapped French fashion designer Christian Lacroix, it said on Monday.” Hermès 2Q Sales Rise 12%, Keeps ’09 Guidance (WSJ) “Luxury goods company Hermès International Tuesday stuck to its full-year target of flat revenue after posting a 12 percent