J.Crew agrees to $3bn takeover (FT) “J.Crew, the US retailer with a preppy style, has agreed to be acquired by TPG Capital and Leonard Green & Partners in a $3bn deal… The two funds have agreed to pay $43.50 per share in cash for J Crew.” Divergent paths for US consumers as holidays near (AFP) “Americans appear to be shaking off the gloom heading into the holiday season with recession no longer hanging
“I think they are very beautiful objects. There is no touch of what is considered bad taste or bad design [with technology], because bad design is bad taste today. They are flawless in a way. Facebook is a flawless object...it's for me like a Brancusi" Karl Lagerfeld speaking exclusively to BoF Founder and Editor-in-Chief Imran Amed on technology for The Luxury Channel, following the IHT Heritage Luxury Conference hosted by Suzy Menkes and held in London last week.
The New Icons of Fashion (NY Times) “Ms. Dello Russo and her raffish style-world cohort, who populate the mastheads of the fashion magazines, represent a new breed of Web-based reality star… they are casting a spell, their comings and goings relentlessly tracked by a new generation of aspiring style savants.” What Does ‘Masstige’ Mean For China? (Jing Daily) “If masstige collections are offered supplemental
LONDON, United Kingdom — According to network technology and services company Cisco, the number of people who watch web videos will surpass 1 billion by the end of 2010. By 2014, web video alone will account for 57 percent of all consumer internet traffic. Already, more than 2 billion videos are played each day on YouTube alone. With staggering statistics like these, it’s no surprise that fashion brands, both large and small, are investing in online video content, while agencies that represent commercial artists are urging their fashion photographers to reposition themselves as image-makers who can direct short films. But what makes a good fashion film? And are these the same primary concerns that go into a good fashion photograph?…
Web-Bargain Luxury Comes to Japan (WSJ) “For decades, the model for selling luxury imported goods in Japan has been simple: plush surroundings, attentive service—and the ‘Japan premium’… But the cozy system may be cracking, [thanks in part to] third-party websites to jump in with deep discounts.” Karl Lagerfeld cancels Paris show (Catwalk Queen) “Instead, the designer is working on a new
Discount Store Is New York Beachhead for Nordstrom (NY Times) “After more than a century, Nordstrom, the upscale department store chain from Seattle, will make its Manhattan debut… But don’t expect $4,000 dresses. Expect 25,000 pairs of discounted shoes, and an automated checkout line more at home in a supermarket than a purveyor of luxury goods.” Jane Shepherdson: why we want what she’s wearing (Times Online)
Inditex profit climbs 17 percent as sales jump at start of fiscal year (Market Watch) “Inditex posted a 17% rise in fourth-quarter profit on a 13% rise in revenue as the Spanish retailer saw strong growth in international markets and opened its fiscal year with rapid sales growth.” Guess Q4 Profit Jumps 81per cent (RTT News) “International fashion house Guess? Inc. said Wednesday its profit for the fourth quarter
What The Rich Are Buying Now (Forbes) “While most consumers aren’t returning to their pre-recession shopping patterns, there has been a rebound in luxury spending lately. Ultra affluent shoppers … have started to come out of hiding” Miuccia and Me (WSJ) “Bertelli, is the mastermind behind a label most people associate with his wife, Miuccia Prada, the avant-garde designer who has created global
NEW YORK, United States — In recent seasons, while a deep economic downturn has threatened the long-term survival of many magazines, a number of major fashion brands have been creating their own editorial content, and perhaps no brand has done more of this than Chanel. Back in November, Olivier Zahm posted an image of several layouts from 31 Rue Cambon, announcing “the first Chanel magazine which I have art directed and
PARIS, France – We don’t actively engage in the rumour mill here on BoF, but when the whispers involve Karl Lagerfeld, Olivier Theyskens and Alber Elbaz in a Lanvin and Chanel merry-go-round, it seems worthwhile to engage in a bit of Friday afternoon fashion speculation. Today, Diane Pernet has published a bombshell post outlining this scenario: “This is not a fact until you officially read it somewhere else but rumour
Michael Kors: an upbeat, uptown guy in a downturn (The Times) “Michael Kors, one of fashion’s great survivors, is still selling in Manhattan and Palm Beach, despite the Madoff effect, and London is set to follow” Delhi gets fashion pie, Mumbai the crumbs! (The Times of India) Could India finally be getting it’s fashion act together or is it just another acronym to add to India’s fashion scene?
Karl Lagerfeld Discusses Luxury Internet Sales with European Commission (WSJ) “The explosion of online retailing leaves fashion houses with a difficult balancing act between exclusive image and exposure.” Fashion Sees The End Of The Runway (Forbes) “The catwalk’s diminishing presence doesn’t come as a major surprise considering how much the role of the runway has changed over the years.” Inside a
What drives me crazy about most fashion industry coverage is that it is often limited to soundbites, tainted with marketing spin, and driven by editorial objectives. This perpetuates the notion of the superficial designer and undervalues the contributions made by truly innovative creative geniuses like Karl Lagerfeld. It is rare to have an unedited, in-depth conversation with anyone influential in this business-- let alone Karl Lagerfeld. But, not only did PBS interviewer Charlie Rose have this rare opportunity, he seized it with gusto in this clip I recently found on YouTube. Together with Harriet-Mays-Powell, Fashion Editor of New York Magazine, he deftly takes Mr. Lagerfeld through a wide ranging one hour conversation (no easy task!) which goes from his design…