Jak & Jil window at Holt Renfrew, Toronto

Holt Renfrew owner rumoured to be eyeing Barneys New York (National Post)
“Barneys, an 86-year-old luxury retailer which has famously catered to a broad and often eclectic range of needs of high-end consumers, would fit well within Mr. Weston’s portfolio and extend his buying power for his other luxury goods chains, including Holts, Selfridges in Britain and Brown Thomas in Ireland, analysts say.”

When cheap is exclusive (The Economist)
“Luxury e-tailers, which sell designer goods online at discounted prices, are flourishing. The slowdown has actually helped them, simultaneously producing seemingly endless supplies of unsold inventory and forcing consumers to tighten their belts.”

A winning formula for fashion retail (Fortune)
“Chic digital merchant Net-a-porter is proving that women will buy a $2,000 dress with just a click of a BlackBerry.”

Jay-Z’s Rocawear Line: The King Of Hip-Hop Fashion Labels (MTV Newsroom)
“At the beginning, Jay-Z’s approach to fashion was all over the map. From the baggy pants and sports jerseys that were stereotypically associated with the rap game to a tuxedo and top hat, Jay-Z’s music videos and songs incorporated various nods to fashion labels, styles and trends.”

François-Henri Pinault and Salma Hayek

The new king of luxury (Fortune)
“Since taking the reins of one of the world’s biggest fashion empires, François-Henri Pinault has put his stamp on Gucci, YSL, and Puma. Now the luxury business is putting him to the test.”

Barneys Said to Weigh Debt Swap Amid Buying Interest (Bloomberg)
“Barneys New York is weighing a debt restructuring or bankruptcy filing that may wrest control from the Dubai government-owned firm …Hedge fund Perry Capital LLC, has been approached by Holt Renfrew, the Toronto-based department-store chain, about a joint offer for control of the 86-year-old luxury retailer, one of the people said.”

Escada needs to find buyer by early November-source (Reuters)
“Insolvent luxury fashion house Escada  has to find a buyer by early November because its financing will run out by December at the latest, a person close to the situation told Reuters.”

Samsonite Unit Seeks Chapter 11 (Wall Street Journal)
“The U.S. retail unit of luggage maker Samsonite Corp. has filed for bankruptcy-court protection with the goal of cutting its store count in half in a bid to boost earnings.”

Fashion Diary: Norma Kamali reinvents the runway (Los Angeles Times)
“Not only is the economy a challenge, so is the Internet. The speed with which photos of runway looks travel around the world is making the whole seasonal exercise of fashion weeks seem more and more ridiculous. So it’s no surprise that designers are rethinking how they can use the Internet to their advantage, including Norma Kamali, whose presentation titled “The Democratization of Fashion” will be held on Sept. 17 at the Soho Apple store.”

Unlike the United States, Europe and the Middle East, the Canadian retail luxury landscape is dominated by one major player, Holt Renfrew, which was founded in 1837 in Quebec City. 

In 1986, the venerable retail chain was acquired by Galen Weston, who also owns Selfridges in London and Brown Thomas in Ireland.  Since then, Holts has gone on to become the destination for luxury shoppers in Canada with 9 locations in all major cities, an estimated $500m in revenues, and still virtually no competition to speak of in the domestic luxury department store market.

However, with monopoly can come complacency. 

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