MADRID, Spain — Zara owner Inditex tapped fashion-hungry consumers in new markets in 2012 to grow net profit by 22 percent even as austerity-hit shoppers in Europe tightened belts. The world's largest clothing retailer, which runs eight brands, posted net profit of 2.4 billion euros ($3.1 billion), opening new stores in 64 markets. It entered markets like Georgia, Bosnia and Ecuador for the first time.
LONDON, United Kingdom — According to an estimate released this week by Credit Suisse, Inditex, the Spanish company that owns ‘fast fashion’ giant Zara, will achieve online sales of over 600 million euros in 2013, almost double that of 2012, the results of which will be announced next week.
MADRID, Spain — The fourth day of Paris Fashion Week saw Raf Simons unveil the latest chapter of his journey after nearly a year at the design helm of Christian Dior. Following his acclaimed debut last year, the pressure has been stacked on the Belgian designer to deliver again in what is only his second ready-to-wear show in one of the most influential jobs in fashion. Spain's Amancio Ortega, elevated by Forbes to become the third
As materials, transportation and labour costs rise, putting pressure on margins, producers of fast fashion face growing challenges that only some will survive.
Topshop’s Sir Philip Green: How he became king of the High Street (BBC News) “The moment Sir Philip Green finally ‘arrived’ was in the year 2000, when he bought the dowdy British Home Stores chain for £200m and rebranded it BHS. According to Stuart Lansley, his restless mind had spotted a beguiling new way to make money from the High Street…” Spain’s Inditex posts 27 pct rise in nine-month
Op-Ed | Making The Case Against Fast Fashion Collaborations (Opinion) “These underlying commercial motives are often obscured, however, by a ubiquitous but pernicious phrase: ‘the democratisation of fashion.’ Whoever coined the term is surely the marketing genius of the 21st century. On the face of it, who can argue that ‘the democratisation of fashion’ isn’t a good thing?” Joseph Mimran’s Fresh Approach (Intelligence)
Sporty? It’s the Olympics, Stupid! (IHT) “This year has been a game changer in British attitudes toward sports, leaving behind the typical ironic and laconic talk about being ‘good losers’ and instead rejoicing in gold medal glory. So it is with fashion. While New York designers appear to be moving away from their American sportswear roots, the London summer 2013 collections are embracing dynamic
Kors Crushes Earnings: Will the Growth Continue? (Daily Finance) “Shares of design house Michael Kors popped on the open today, with the stock climbing more than 5%. The luxury-goods retailer reported fiscal fourth-quarter earnings that beat on both the top and bottom lines.” Clothing retailer Esprit’s shares slide 23 percent as CEO quits (Reuters) “Shares of Esprit Holdings Ltd fell by nearly a quarter on
Fashion forward (The Economist) “Flogging fashion is like selling fish, as Amancio Ortega, the founder of Inditex, likes to say. Fresh fish, like a freshly cut jacket in the latest colour, sells quickly and at a high price. Yesterday’s catch must be discounted and may not sell at all. This simple insight has made Inditex one of the world’s two biggest clothes makers. ” Neiman Marcus to woo China shoppers via the web
The Man Behind the Puffy Purple Coat (WSJ) “Mr. Katsuta is senior vice president of global research and design for Fast Retailing’s Uniqlo. Known for urbanized basics like T-shirts, sweaters and khakis, Uniqlo is one of the fastest-growing clothing chains in Asia. Mr. Katsuta joined the company in 2005 and now manages 100-plus designers based in New York, Tokyo and Shanghai, directing them like the maestro of an
Michael Clinton, Hearst’s Billion-Dollar Man (WWD) “It was a mere 18 months ago that many questioned whether his career at Hearst Magazines was over… But Clinton, a 30-year publishing veteran, has had plenty of practice at taking a proverbial punch, shaking it off and bouncing back. Since his very public pass over, he’s been promoted to president, marketing and publishing director and one could argue his career is
Lunch with the FT: Carine Roitfeld (FT) “Roitfeld, 55, has built a career on being cool. She made her mark as a stylist in the 1990s, when she and the photographer Mario Testino created risqué campaigns for Gucci… [As the editor of French Vogue] she became one of the most powerful women in the fashion industry, famous for edgy, sometimes controversial and frequently erotic photo shoots.” Jimmy Choo sold to Labelux
The Tribes of Westwood, Owens and Demeulemeester (The Cutting Class) “While some designers tend to beat to the drum of being on-trend, others have already cultivated their own communities and are even referencing it within their collections. In the recent Ann Demeulemeester, Rick Owens and Vivienne Westwood collections you feel that they are speaking in a language that their customers already know and understand.”