How Mulberry bagged success in the battle for affordable luxury (Guardian) “Many women spending nearly £1,000 on a handbag may salve their conscience by telling themselves it is an investment. But is it? ‘I am rather keen on the idea,’ chuckles Godfrey Davis, the chief executive of the fast-growing luxury brand Mulberry.” Mickey Drexler Has Yet Another Reason to Be Giving High Fives (Vanity Fair) “The
Levi’s Shoots for the High-End Hipster (WSJ) “The 157-year-old company is trying to reinvent itself as not just a purveyor of basics but as an edgier brand suitable for the fashion cognoscenti.” Polo Ralph Lauren: The Winning Streak Continues (Smart Trend) “Shares of Polo Ralph Lauren traded near a new 52-week high yesterday, touching a price of $90.89. Approximately 758,000 shares traded hands yesterday vs.
J. Crew Is Going Global on Net-A-Porter (Stylelist) “Now, the classic American outfitter, currently available only in North America and Japan, has entered into an agreement with Net-A-Porter to be sold globally starting in May.” Nordstrom’s Profit More Than Doubles (WSJ) “Upscale department-store chain Nordstrom Inc. reported a 152 percent increase in profits during the quarter ended Jan. 30, underscoring
J. Crew more than doubles profit in 3Q (AP) “J. Crew Group Inc., seller of clothes, shoes and accessories, said Tuesday its profit more than doubled in the third quarter as sales rose by a double-digit percentage. The results sent its stock surging in after-hours trading after the retailer beat Wall Street consensus estimates for profit and revenue.” Michael Kors: The fashion designer who fits and flatters (Independent)
Richemont Creates Post To Turn Around Ailing Brands (WSJ) “The world’s second-largest luxury company by sales named Martha Wikstrom, 52, head of a portfolio comprising most of Richemont’s less-prominent brands, including Alfred Dunhill and Lancel, which market so-called soft luxury goods such as leather and fashion.” Burberry eyes expansion in U.S. (Guardian) “While other retailers apply the brakes on
Despite Fourth-Quarter Loss, J. Crew Sees Room to Grow (WWD) “Tightfisted consumers and rising costs may have pushed J. Crew Group Inc. to a $13.5 million loss in the fourth quarter, but the retailer still has cautious expansion.” (Subscription required) Has spring sprung for US retailers? (Just-Style) Though February sales have improved, this is an unlikely sign of a total recovery. Simon Fuller to launch fashion
Hachette to Break Through ‘Silos’ As It Restructures Women’s Magazines (WSJ) “This week, the New York publisher will take what it says is a big step toward fortifying itself, reorganizing its women’s magazines, which make up the bulk of its business.” J. Crew Group cuts jobs, suspends 401(k) plan (Forbes) J. Crew will cut 95 jobs and 401k plans to help save on costs. Niche Web Sites Buck Media
Oscar fashions give no hint of the weak economy (Newsday) Despite tough times, no one was slumming it at the Oscars. Factors Drop Barneys Over Sale Uncertainty (WWD) Factors are no longer approving spring orders from Barneys over its uncertain future. (Subscription required) London’s ‘cool girl’ starts growing up (IHT) The perpetual focus on an ever-renewing young generation seems to be the mark of British