MILAN, Italy — Fausto Puglisi's elaborately embroidered dresses have been worn by Madonna and will be featured alongside titans of Italian fashion at London's Victoria & Albert museum this year, but his ambitions for his young brand are as grand as his designs.
Will Prada Finally Succumb to Global Luxury Slowdown? (CNBC) “Italian fashion house Prada has been a bright spot in a slowing global luxury retail space, and its latest earnings report underscores the resilience. The company delivered another set of solid earnings on Tuesday — first-half net profit surged 60 percent to 286 million euros ($372 milion), thanks to demand from Asian spenders.” Let There Be Light (IHT)
Mobile, Tablets Lead Holiday Charge (WWD) “Holiday shopping has given new meaning to the term ‘click and order.’ In addition to a rise in the number of consumers and the average amount spent per buyer… Overall increases in online spending were fueled by other factors such as a surge in mobile and tablet commerce transactions, luxury brands that typically don’t discount, tiered sale offerings that offer
Hermès Scores Victory in Battle With LVMH (NY Times) “Hermès won a major victory Thursday in its battle to torpedo a potential takeover by its larger rival LVMH after a court cleared the French luxury group’s plans to create a holding company that will lock in descendants of the founding family for 20 years.” Ungaro Departure (Vogue UK) “Giles Deacon has left his position as creative director of Emanuel Ungaro… Deacon’s
Wanted: a Second Chance (WSJ) “It’s the fear of every high-achieving professional: excelling, reaching the pinnacle of your field—and, the next day, having to start over… Many designers say the key to their reinvention came from using skills, interests and contacts from their earlier lives—without stopping for regrets. ‘Nothing’s a bad experience and nothing is a waste of time.’” More
Richemont’s Rupert to Take Over as CEO; Profit Slumps (Bloomberg) “Richemont SA, the world’s largest jewelry maker, said Chairman Johann Rupert will replace Norbert Platt as chief executive officer in April, taking more control amid the deepest recession since the 1930s… Richemont’s first-half profit fell 60 percent.” In downturn, luxury brand Bally eyes Asia and beyond (Reuters) “Fresh from a makeover,
Multinationalism in Fashion’s Tribes (New York Times) “On the face of it, the recent G-20 meeting had nothing on Paris Fashion Week. In terms of a concentration of nations and cultures, there are few rivals to this weeklong summit for which the wildly disparate tribes of fashion converge from all corners of the world. By contrast, even New York’s Fashion Week looks like a county fair.” LVMH, Dior executives upbeat on top brands
U.S. brands’ many routes to Europe (IHT) Some American brands believe in a one size fits all mentality when it comes to selling to Europe, but others such as Tommy Hilfiger take a more segmented approach. Emanuel Ungaro Drops Pre-Fall Prices by 15% (WSJ) “Emanuel Ungaro is pricing its pre-fall collection about 15% below last year’s.” ASOS bucks gloomy retail trend again (Guardian) Due to the popularity of black