A Younger Coach, Escada optimism, UK sales down, Aquascutum bows out of LFW, Museum fashion

Poppy line for Coach, Courtesy of Coach

Coach Is Now Traveling Coach (Reuters) “With this month’s release of the budget-conscious Poppy line, Coach, a luxury-retail marvel once ridiculed for being stodgy, is increasingly associated with an entirely different-and notoriously fickle-population: teens, coeds, and grads.” Escada Optimistic of Rescue as Katie Holmes Dressmaker Suffers (Bloomberg) “Escada AG Chief Executive Officer Bruno Saelzer said

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Comme at 40, Luxury turbulence, Oliver Sweeney rescued, Escada bond swap, Pringle to London

An advertisement in a Tokyo railway station, courtesy of The New York Times

Positive Energy: Comme at 40 (New York Times) “Comme des Garçons is marking its 40th anniversary by bringing out a guerrilla-style, temporary brand called “Black” that epitomizes the style, the inventiveness and the originality of its founder.” Luxury market faces turbulence: Hermès (Reuters) “Hermès believes turbulence could hit the global luxury goods industry for the next two years and has put some

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Escada divests brands, Ferre and Damiani unite, Miuccia on CNN, Evisu hires Scott Morrison

Apriori S/S 09 ad campaign, courtesy of Apriori

Escada sells off Apriori, Cavita and Laurèl (Drapers) “Escada has sold off its Apriori, Cavita and Laurèl womenswear brands which operate under its Primera subsidiary, to German investment firm Mutares.” Ferre and Damiani announce cooperation (Forbes) “The Gianfranco Ferre fashion house, which suffered the death of its founder and the bankruptcy of its holding company in the span of two years, said Tuesday it was

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Escada shows promise, Asos sales double, China encourages exports, Retail stocks continue to rally

Escada S/S 09 ad campaign, courtesy of Escada

Escada seen up on report of unit sale (Reuters) Could there finally be a way out of the red for beleaguered Escada? Shares in the German luxury-fashion company rose, “8.3 percent in pre-bourse trade making them one of the few German pre-market gainers after a report in the Frankfurter Allgemeine Sonntagszeitung says the company is in advanced talks with one suitor to sell its Primera subsidiary, which offers mid- to

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French Connection loss, Shoppers’ worries, Beauty over 50, Escada fights for life

French Connection Ad Campaign, Spring 09

French Connection swings to £5.5m loss (Drapers) French Connection posted a £5.5m loss compared with £3.1m profit last year. NPD Group Tracks Consumer Feelings About Economy (WWD) “Shoppers’ worries about the economy are high, and intention to spend is low, but according to The NPD Group, there may be light at the end of the tunnel.” (Subscription required) Luxury: Evolving Beauty Standard or Merely an Evolving Business

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Fashion investing | Return of the strategic investor?

Apax Partners, the London-based private equity firm, has abandoned its bid to take a stake in Escada AG, the embattled German fashion company.  Citing deteriorating market conditions, Apax stated that "the recent evolution of the stock price and the weakness of the international financial market do not give a basis for pursuing the project." This is absolutely the right decision. Not only has Escada become somewhat of an industry basket-case in recent years, on Wednesday the company also revised its earnings projections for year ending October 31 downwards yet again. EBITDA margins are  expected to fall by about 25% compared to 2007. The company cited recessionary conditions in the USA and other key markets as the reason behind the revisions.…

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Escada | In private equity’s crosshairs?

Not long after Valentino Fashion Group was acquired by Permira in 2007, Escada AG is the latest major European fashion company to find itself in the crosshairs of a private equity firm. The German newspaper Handelsblatt is reporting that Apax Partners is considering taking a stake in the the German fashion company -- and possibly looking to execute an outright takeover. Escada's stock lost more than one third of its value in 2007, and another third of value was obliterated in the first few months of 2008, making it a very ripe target for acquisition. But any Escada-turnaround effort backed by private equity will not be easy, even if the price is cheap. Last week, Escada reported that its sales…

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