Gucci’s CEO charts new direction, Barneys still CEO-less, Small luxury takes a hit, Samsonite’s lifeline

| Daily Digest

New Gucci store concept, courtesy of Gucci

Gucci Renews GG-Logo Purses Priced Below $3,000 Under New Chief (Bloomberg) As reported late last year on BoF, “Gucci’s new chief executive officer, Patrizio di Marco, said he’s fighting the recession by cutting production, making fewer styles to reduce costs, and bulking up the luxury label’s mid-priced range.” Lengthy Search for New CEO Dogs Barneys (WSJ) “Barneys has spent more than a year

…Continue Reading

Future of Luxury, PPR declines, Sustainable retail, Mizrahi’s Liz launches, Coach profits drop

| Daily Digest

PPR Chairman Francois Henri Pinault, courtesy of AP

The Future of Luxury in a Recession (Atelier) As companies like Coach, Gucci Group and LVMH report their results this week, this video from Atelier, a division of Leo Burnett, highlights some of the cataclysmic changes in consumer behaviour that will drive the luxury of the future. What do you think of their assertions? PPR Says Luxury Sales Remain ‘Sluggish’ (WSJ) “Mass retail and fashion group PPR SA posted a

…Continue Reading

Gucci’s Q1, Project Runway moves, Lundgren’s rich compensation, Hermès sets up on the beach

| Daily Digest

Gucci S/S 09 Ad campaign, courtesy of Gucci

Gucci CEO sees satisfactory Q1-report (Reuters) “Fashion house Gucci has had a satisfactory trend in the first quarter.” ‘Project Runway’ Will Move to Lifetime (WSJ) “Nearly a year of litigation between General Electric Co.’s NBC Universal and Weinstein Co. over “Project Runway” ended Wednesday with an agreement that allows Weinstein to move its popular reality-TV show to Lifetime

…Continue Reading

Murjani divests Gucci, Luxury succumbs to cycle, Choo’s schools, New home for NYFW, Macy’s cuts staff

| Daily Digest

Gucci spring / summer '09

Murjani to divest Gucci stores in India (Economic Times) In an effort to recoup investments he’s made in the luxury sector, Mohan Murjani plans to divest the operations of Gucci in India. Luxury goods succumb to the cycle (FT) Despite some views to the contrary, the luxury industry is proving to be prone to cyclical ups and downs. Malaysian shoe guru Jimmy Choo plans teaching academies (Yahoo) “Malaysian-born luxury

…Continue Reading

Luxury Outlook | Gucci cuts back production capacity

Intelligence | Milan

MILAN, Italy - Take a walk into a Gucci store these days and one cannot help but notice the preponderance of logos and icons on almost every Gucci product in sight, especially the brand's leather goods, shoes and accessories. Horsebits, double G's, and Gucci crests abound. But, it seems the conspicuous logos are failing to resonate with consumers in these recessionary times. Rumours are circulating in Italy that Gucci has dramatically cut production orders to make up for waning demand for the Italian luxury brand's core leather goods offering. If the reports are accurate, it speaks volumes about the worsening climate for luxury goods players in general, but particularly for brands like Gucci which have chosen to follow an explicit…

…Continue Reading

1011121314