Internet private sales, Couture endures, Neiman Marcus still down, Mass fashion retailers struggle

| Daily Digest

Private Sale

Designer Bargains, for the Invited (WSJ) “Online retail startups that specialize in “private sales” of discount designer apparel are gaining traction in the U.S. and, armed with fresh venture capital, plan to branch into new businesses.” Couture houses refuse to tumble (Toronto Star) “You can never be too rich, too thin or own too many couture items. High-end buyers continue to pop in to Paris for the

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Gap revamps, Rodarte reviewed, Fashion fakers, Sir Philip Green interviewed, Graduate Fashion Week winners

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oldnavy.com, courtesy of Old Navy

Gap Revamping Old Navy, Seeking To Reclaim Mkt Share (WSJ) “Gap, which is the largest U.S. clothing chain, will remodel 50 Old Navy stores this year after a successful pilot in California, according to Chief Executive Glenn Murphy, speaking at a Piper Jaffray conference in New York Wednesday.” Rodarte: California dreamers put B-movies before business (Times) “Interest in the Mulleavy sisters and their fantastical

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Prada’s profit falls, Cartier cuts hours, Gap teams with ASOS, Missoni’s London store, Ballantyne’s new Chairman

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Prada S/S 09 Ad campaign, courtesy of Prada

Prada lays foundations for future growth (Financial Times) “Prada, the privately owned Italian fashion house, reported on Tuesday a 22 per cent fall in net profit for 2008 of €99m and sought to position itself for growth when the global economic crisis eases.” Cartier cuts working hours as demand dwindles (Reuters) “Richemont, the world’s second-largest luxury goods group behind LVMH, is cutting working

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Recessionary designs, Rochas’ clothes, Gap’s boss takes pay cut, Hermes holds steady…

| Daily Digest

Lanvin A/W '09, courtesy of the New York Times

Two Words for Fall: Toughen Up (New York Times) The recession could turn out to make designers better. Do You Want Clothes to Go With That Perfume? (WSJ) At Rochas, there are now clothes that come with its legendary scent. Gap boss takes pay cut (Drapers) “Gap’s chairman and chief executive Glenn Murphy will take a 15% salary cut as part of plans to cut costs.” Hermès Net Up 0.8 Percent (WWD) Hermès post steady sales

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Gap earnings fall, US economy contracts, Reiss’ younger line, Just Cavalli presents

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Gap, photo courtesy of Slate

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

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