NEW YORK, United States — G-III Apparel saw second-quarter profits more than double and it boosted its expectations for the year Wednesday. Shares jumped more than 5 percent to $49.50 in morning trading, sales spiked 21 percent.
Why China’s Fashionista Websites Aim High (And Low) (Forbes) “Online shopping offers a platform for new fashion brands to enter China, without the expense and risk of opening physical stores. Even deep-pocketed fashion houses face a challenge in planting a flag in China’s frothy real estate market. ‘All the good locations have been taken by the big brands,’ says Angelica Cheung, editor of Vogue China , which
Is Graphite the Answer to F-Commerce Woes? (The Bottom Line) “8th Bridge has launched a new social commerce product that turns the traditional F-commerce model on its head. Rather than bringing the cash register to the watercooler, the platform, called Graphite, puts the watercooler next to the cash register, bringing a Facebook-powered social layer to existing commerce channels.” Clouds on the Horizon? (Market Pulse)
Kenneth Cole to take company private (FT) “Fashion designer Kenneth Cole is taking the publicly traded company that bears his name private in a deal that values it at $279m… Mr Cole drew on a number of sources to finance the deal, according to people familiar with the company.” Brooks Brothers eyes Indian market (FT) “Brooks Brothers has formed a joint venture with Reliance Brands Limited, a part of Reliance
Italian Luxury-Goods Makers to Follow Clients in Spending More (Bloomberg) “Ermenegildo Zegna, Salvatore Ferragamo and Roberto Cavalli will increase investment in 2011, signaling greater confidence among Italian luxury-goods makers as demand continues to rise.” Milan: Heritage, Showmanship, Theater (IHT) “But even the face-paint effects for the Facebook generation… did not give that extra kick of excitement
Puma prepares for ‘volatile’ retail sector (FT) “Puma, the world’s third-largest sports goods maker, said it expects a challenging second half of the year after posting better-than-expected results for the second quarter on Friday.” David Reiss and Andy Rogers (Drapers) “Reiss launches its first sub-brand this week, aimed at a younger, edgier customer. Founder David Reiss and brand director Andy Rogers
Adidas issues profit warning (Drapers) “Pre-tax profits at the Adidas group sunk by 97% to just €5 million (£4.4m) in the first three months of 2009. Currency-neutral group sales fell 6% to €2.58 billion (£2.28bn), compared to €2.62bn (£2.32bn) in the first three months of 2009.” The Sui Target (Vogue UK) “ANNA SUI has become the second designer to participate in discount retailer Target’s Designer