Hublot Platinum Watch Detail | Source: Hublot

LVMH Must Watch It (WSJ)
“LVMH should do more to fill out its lack of presence in the ‘hard’ luxury segments of jewelry and high-end watches. High operating leverage at jewelers and watch makers, especially smaller outfits, has left them economically vulnerable and a potential hunting ground to scale up LVMH’s business.”

Giambattista Valli to Sew His Own Clothes (WSJ)
“Mr. Valli said that, starting today, he ‘ceases any contractual deal with Mariella Burani Fashion Group,’… [the group] is in bankruptcy proceedings which were announced last week during Milan fashion week. Mr. Valli had just signed on with the firm last year.”

Reaching Affluents on Social Nets (e-Marketer)
“Most wealthy Internet users in the US are optimistic about the economy going forward… that should make them attractive to retailers, which are increasingly turning to social networks to attract customers.”

McCartney minimalism reflects new austerity (Independent)
“Stella McCartney opened the proceedings at the Paris collections yesterday with a show that went to prove that the return of minimalism to the international catwalks is the story of the autumn/winter 2010 season.”

Red Carpet Fading Away (IHT)
“Sometimes a fashion moment is defined as much by what is not on the runway as by the catwalk favorites. And with only one more day of autumn/winter 2010 in Paris before the season’s close, dressy evening clothes are fading from the limelight.”

Giambattista Valli A/W 09, courtesy of coutorture

Burani to License Giambattista Valli Fashions (WSJ)
“Italy’s Mariella Burani Fashion Group said it has signed a five-year contract to make and distribute the ready-to-wear collection of Italian fashion designer Giambattista Valli, a deal aimed at growing both companies as the luxury goods industry suffers through the economic crisis.”

Haute Couture Faces Uncertain Times (IHT)
“In the closeted world of satin and sequins that is Parisian haute couture, there is uncertainty about the future.”

Berlin Fashion Week Shows a Raw Energy (New York Times)
“From the discomforting sight of homeless people from public shelters as models at Patrick Mohr’s show, to the gritty glamour of the Boss Orange line strutted through a former electricity plant on the city’s outer fringes, Berlin Fashion Week, which closed last weekend, had a distinctive raw energy.”

Too Precious for a Recession (New York Times)
“In a different economy, Billy Mitchell and Nicole Drucker of San Francisco might have splurged on a $10,000 engagement ring. But Ms. Drucker is out of work and they need to save for a house. So in April, Mr. Mitchell got down on one knee on the Golden Gate Bridge and proposed with a $4,000 diamond ring he had bought on the Internet.”

Christian Lacroix: hanging on by a thread (AFP)
“Designer Christian Lacroix has had his back against the wall since the fashion house which bears his name went into administration early last month. If no saviour turns up, the house will close its doors at the end of July and 112 of its current 124 employees will lose their jobs.”

Neiman Marcus, courtesy of Alfred Eisenstaedt

Neiman Sets 375 Layoffs Amid Slump (WSJ)
Neiman Marcus is laying off 375 people or 3% of its workforce.

Retail Sales Collapse, But Keep the News in Perspective (Seeking Alpha)
From August to December, retail sales collapsed 24%. “But it’s important to remember that there is a lot of psychology in these numbers,” reports Seeking Alpha.

Magazine Ads Evaporated in 2008, Faster as Months Went On (WSJ)
“Capping a painful year for print media, the decline in magazine advertising pages accelerated with each passing quarter of 2008.”

The Vulgar Game (Newsweek)
The luxury industry’s seeming turnaround from promoting conspicuous consumption to conscious consumption amid the recession seems insincere.

Back to his heartland: Giambattista Valli’s Italian odyssey (IHT)
Suzy Menkes profiles Giambattista Valli, the Italian, Paris-based designer who many consider to be the next Valentino.