Craft Punk exhibit in Miami, courtesy of Fendi

Why Luxury needs a recession (Business 24-7)
“Michael Burke, President and CEO of Italian fashion house Fendi, has always maintained that luxury should not be affordable. ‘It cannot be, it shouldn’t be for everybody,’ he insists. ‘The way the products are made, the quality and the works… luxury is not for instantaneous gratification. One should aspire for it.’”

Distinctive Men’s Styles From Some ‘Little Brothers’ (New York Times)
“The final day of the spring 2010 menswear collections in Milan spotlighted many of the secondary lines of some of the biggest names in fashion, collections generally perceived to be the sportier, more rebellious young brothers to the high-end lines. But rather than looking like second-class fashion citizens, these shows were collectively strong, with distinctive messages that pushed them out of the shadows of their big brothers’ broad shoulders.”

Clements Ribeiro return to London Fashion Week (Drapers)
“Design duo Clements Ribeiro will return to the London Fashion Week schedule this September after a four year break.”

Protests threaten launch of Bread & Butter Berlin (Drapers)
“Protesters who operate under the banner ‘Rescue Tempelhof’ are campaigning for the disused airport, which will host B&B next week, to be registered as a UNESCO World Cultural Heritage site and do not want it used as a trade show venue.”

Saks Signature Bag

Saks Upends Luxury Market With Strategy to Slash Prices (WSJ)
Saks’ deep discounting before the holiday season will have a long-term effect on the consumer psychology.

Fashion Walks a Fine Line (WSJ)
During New York Fashion week, you’ll see dour and spunky on the runways, the magic blend that will court customers.

Retailers feel credit squeeze in India (FT)
“India’s biggest discount retailer said that hundreds of its stores had been attacked at the weekend after it failed to pay its security guards, in a sign of the potential socio-economic implications of the credit crisis hitting the sector.”

Shows must go on (The National)
In New York, despite the series of upheavals in the industry just before fashion week, “shows must go on.”