Gucci Spring/Summer 2011 Campaign | Source: Fashion Fame

The reasons behind the major shake up at Gucci Group (CPP Luxury)
“International media as well as major luxury players have been taken by surprise this week by several major changes within PPR/Gucci Group and it seems this is just the beginning…. Francois Henri Pinault has radically changed management… responding fast to market conditions.”

Dropping Galliano lets Dior open new chapter (Reuters)
“Behind the scenes, Dior is telling industry watchers it is glad Galliano is gone, as it wanted to move away from his theatrical style and embrace a more subtle and refined elegance to better reflects post-economic crisis society. ‘This could be a driver for positive change, which is what Dior itself was looking for.’”

Balenciaga for Today (IHT)
“Mr. Ghesquière, who had gone punk and downtown last season, faced a difficult task. No longer the catwalk ingénue spicing up a house with a glorious past, he had to prove that he could move ahead within the spirit of the august founder. The designer’s process was via fabric, technique and cut.”

Hermès Annual Profit Jumps, Margins Exceed Forecast (Bloomberg)
“[Hermès] reported a surge in full-year earnings as improved confidence among wealthy customers boosted revenue. Operating profit jumped 44 percent to 668.2 million euros ($933 million)… Sales rose 25 percent to 2.4 billion euros and margins exceeded a forecast that Hermes raised last month.”

Thank goodness for Lady Gaga! (Telegraph)
Thank goodness for Lady Gaga! The bonkers blonde from New York has single-handedly rescued a week that on paper should be one of the high points of the entertainment calendar, but instead was fast becoming a car crash of disappointment… The party felt like a complete damp squib until the platinum blonde vision of Stefani Germanotta [arrived] making her catwalk debut at the Thierry Mugler show.”

Dying Cambodian silk using flowers, leaves, and bark | Source: Samatoa

Cambodia Slowly Reweaves Its Silk Industry (NY Times)
“Far from the glamour at fashion weeks in America and Europe, Cambodia’s silk industry is struggling to regain the foothold it lost during years of political and civil unrest.”

Armani Hitches Wagon to Gaga (WSJ)
“The 76-year-old designer’s multimillion-dollar partnership with the 24-year-old pop idol has put Mr. Armani ‘in a new creative spotlight… It is also an effort by one of fashion’s oldest figures to rejuvenate his €1.5 billion business.”

Luxury fashion retailers: functionality or flash? (Retail Bulletin)
“Eight out of 10 globally recognised luxury brands are now selling directly to customers online. Chanel and Versace are the only two retailers not currently offering customers any transactional options.”

Forbes Price Index Of Luxury Goods Keeps Pace With Inflation (Forbes)
“Over the 12 months ended in August–a period in which the aggregate net worth of the Forbes 400 Richest People in America rose 8%, from $1.27 trillion up to $1.37 trillion.”

Italy’s Top Designers Take Over Milan (WSJ)
“It’s a different Milan fashion editors and buyers are descending upon this season. More sophisticated. More serene. And that’s to say nothing of the clothes.”

Giles Deacon confirmed as Creative Director of Ungaro (Vogue.com)
“The new appointment is bound to bring a close to an unsettled atmosphere at the French house that has reigned since Emanuel Ungaro himself retired in 2004.” (RSS and email subscribers: watch exclusive BoF interview here)

Phillips-Van Heusen beats, but Tommy weighs in Q2 (Reuters)
“Analysts had been expecting a bigger boost from Tommy Hilfiger, the preppy apparel brand recently acquired by the clothing maker, but the company cited weaker seasonal business trends in that unit for the second quarter.”

Prada Q1 revenue up on strong retail sales (Reuters)
“Italian fashion house Prada posted a 26 percent rise in first-quarter consolidated revenue on Monday, boosted by strong sales in all main markets, including Europe.”

Reassessing the ’70s: A Brave New Wave (IHT)
“It has been dismissed by opinion makers as ‘the decade that taste forgot’ — the era of bell-bottom pants, glam rock glitter, clammy polyester, shrunken sweaters and a palette of orange, brown and avocado. Yet suddenly ’70s style is being re-assessed.”

The world’s gone Gaga (Times Online)
“As the Gaga juggernaut sweeps back into town this week for a second stab at her British tour, we thought it was time to take stock of the great lady’s fashion effect.”

Lady Gaga by Zaldy in the Monster Ball Tour | Source: Fan site

To further explore the powerful synergy between the fashion and music industries, BoF brings you an exclusive two-part interview with fashion designer Zaldy, known for his close connection to the music industry’s biggest stars.

NEW YORK, United States — Zaldy Goco is one of those rare creative talents who moves seamlessly between music and fashion. For almost two decades, the New York-based fashion designer has been working at close range with music stars to create looks that fit with their music and amplify their personal style, taste and aesthetic to millions of fans. From Rufus Wainwright to RuPaul, Mary J. Blige to Jennifer Lopez, and Mick Jagger to the Scissor Sisters, Zaldy’s fashion-meets-music resume is impressive and diverse indeed.

And, while his first big break may have come from working with Gwen Stefani on her L.A.M.B. label, it wasn’t until 2009 that Zaldy’s career reached its apogee. Last year, in quick succession, both the King of Pop, Michael Jackson, and the reigning queen of the online music industry, Lady Gaga, called on Zaldy to create the costumes for their concert tours. This is particularly noteworthy as both Michael Jackson and Lady Gaga have used costumes to project their unique, star qualities and create iconic images.

In the first part of an in-depth, two part interview, BoF spoke exclusively with Zaldy about how he got started working in the music/fashion space, collaborating with Gwen Stefani, and becoming part of the now legendary Haus of Gaga for her Monster Ball Tour.

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