Tommy Hilfiger Spring/Summer 2010 | Source: Tommy Hilfiger

A big takeover brings cheer to gloomy fashion retailing (Economist)
“PVH’s acquisition of Tommy Hilfiger has aroused widespread interest, because it is a sign of life in an ailing industry. Analysts are predicting that more deals will follow this year. The cutbacks fashion companies have made in the past two years have left some of them with cash to spend on takeovers.”

Cost-cuts take shine off Bulgari (FT)
“Bulgari sank yesterday after the Italian watch and jewellery maker posted a €13.6m fourth-quarter loss in spite of an improving luxury goods sector. Analysts said the numbers were the result of poor fundamentals, adding that the company should expect downgrades.”

Moody’s lifts Saks outlook to stable (Business Week)
“Moody’s Investors Service lifted its outlook for Saks Inc. on Tuesday, saying the luxury retailer is likely to fatten operating income over the next two quarters.”

Retailer Liberty agrees sale of flagship store for £41.5m (Guardian)
“Liberty, the department store group, has agreed a sale and leaseback deal on its Tudor-style building in London’s West End… [the company] has exchanged contracts to sell the building for £41.5m to Sirosa Liberty, with the proceeds used to pay off its debt.”

Luxury Brands Declining Demand in Russia (Pravda)
“Decrease in demand for products of Luxury, Premium and Upper Middle segments in Russia in 2009 amounted to… 40-45% because of the exchange rate difference. Most luxury operators had stopped their expansion and focused on the development of their existing projects in large Russian cities.”

Net-a-Porter features Utility Chic | Source: Net-a-Porter

Net-a-Porter is being acquired for up to £350m by Richemont (Telegraph)
“The deal, expected to be completed this week, will see founder Natalie Massenet, a former fashion journalist, become at least £50m richer as Richemont acquires the remaining 70pc of the company it doesn’t already own.”

Phillips-Van Heusen Acquires Hilfiger for $3 Billion (NY Times)
“Phillips-Van Heusen, the clothing conglomerate that owns Calvin Klein, announced Monday that it would buy Tommy Hilfiger, once a leading purveyor of colorful preppy clothing, for about 2.2 billion euros, or $3 billion.”

Prada accused of maltreatment (Japan Times)
“A senior manager at Prada Japan has filed a legal complaint against the Italian fashion label, accusing the company of harassment and discrimination based on appearance and alleging it maltreated other employees in the past.”

Liberty back in fashion as store weighs up bid approaches (FT)
“Liberty, the listed upmarket London retailer, is in take-over talks with Marco Capello, the former managing director of Merrill Lynch Global Private Equity , in a deal that could value the group at about £40m.”

Gen Y Will End Luxury Drought — In ‘20 (Media Post)
“The last two years have permanently altered America’s relationship with the luxe life, says Pamela Danziger… While Gen Y definitely has champagne tastes, they won’t be able to back it up with real bucks for another decade or so.”

Phoebe Philo by Solve Sundsbo | Source: NY Times

Phoebe Philo’s Third Act (T Magazine)
“A designer’s debut at a new label is always exciting, especially if it is backed by a luxury colossus, as Céline is by LVMH. But this particular designer is the fashion superstar who made Chloé one of the hottest labels of the early 2000s.”

Bottega Veneta Grows Up (WSJ)
“As Bottega pursues its strategy to grow from a niche player into a global brand, it has been conducting a major overhaul to its business, starting from the production line. As part of that, it now decides well before its catwalks what—and how much—to manufacture and send to stores.”

Liberty considers freehold sale of iconic flagship store (Retail Week)
“Liberty has confirmed that investors are circling the luxury department store’s iconic Tudor-style building to lease it back to the company.”

Vogue App Turns Ads Into Shopping Links (WSJ)
“Vogue readers with iPhones are getting another toy to play with this month. The magazine is launching an application that looks like a fun shopping and styling tool but is actually a savvy way to connect the magazine and its advertisers directly with readers’ wallets.”

Milan Goes in All Directions (NY Times)
“The problem is Ms. Prada doesn’t know what to do with these older forms other than offer them… By contrast, the clothes for Fendi looked modern and relaxed.”

J. Crew Spring/Summer 2010 Preview | Source: J. Crew

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 how its strategy of expanding price points and carrying more exclusive merchandise is leading to more full-priced selling.”

Britain a cut above the rest (Telegraph)
“The creativity of these highly inspirational designers [generates] consistent demand via regular showcasing of new trends and design styles. Without this talent there would simply be no thriving high street, no £46bn sector and far fewer jobs.”

Liberty’s designer open call event (FT)
“The Liberty Best of British Open Call, an initiative launched last April by the store’s buying director… involves designers showing their wares to Liberty’s textile, furniture and fashion buyers.”

Christopher Kane updates the little black dress at LFW (Independent)
“When Gabrielle ‘Coco’ Chanel created the little black dress in the Twenties, she could hardly have foreseen the sexy leather and lace versions which graced London Fashion Week.”

George Davies | Source: George Davies

George Davies has further designs on women (Guardian)
“The man who invented Next and George at Asda is launching a spring collection with a brand new label. …GIVe – Davies’s fourth attempt to capture the hearts and minds of British women.  With the launch of its spring collection only days away, he cautiously reflects: ‘We are where I hoped we’d be when we set off. Overall, I’m happy.’”

Prada sounds positive note (FT)
“In a glimmer of good news for the luxury goods industry, Pradayesterday said its operating profit for 2009 would be better than the previous year and better than forecast in its own budget.”

Yoox ‘09 sales rose 50 percent (Reuters)
“Online fashion retailer Yoox reported on Monday a 50 percent rise in 2009 sales, as consumers grew more comfortable and confident in using the Internet to shop.”

Liberty of London creative director exits (Retail Week)
“Tamara Salman, the creative director of the Liberty of London brand, has left the business. Liberty buying director Ed Burstell is reported to be taking over her responsibilities.”

The fashion stars of Central Saint Martins (Guardian)
“As the famous fashion school prepares to leave Soho, Louise Wilson, its razor-tongued head of MA fashion, talks us through her next generation of style superstars.”

Jean Paul Gaultier

Hermès Denies Any Gaultier Plans To Quit (Fashion Wire Daily)
“Hermès and Jean Paul Gaultier have vehemently denied recent reports on the Internet that the French designer was planning to quit his position as creative director of women’s wear for the luxury label.”

Good Things Do Come in Pairs (New York Times)
“Very few celebrities are either so fascinating or appalling that they manage to get under our skins, as Mary-Kate and Ashley Olsen have, and it may be because they are twins. Yet their success in a field as competitive as fashion is impossible to deny. The Olsens, who are 23, have succeeded with two different labels simultaneously — The Row and the hip, less expensive Elizabeth and James — and without formal design training.”

Liberty losses reduce (Drapers)
“Iconic London department store Liberty has reduced its first half losses after the relaunch of its West End flagship store proved a success.”

Anna Wintour: The most powerful woman in fashion (Daily Record)
“You know, you can make a hit movie without Steven Spielberg’s blessing and you can publish best-selling software without Bill Gates’ blessing, but you can’t really be a successful fashion director right now without Anna Wintour’s blessing.”

Returnees and Spoofs (New York Times)
“Jenny Dyson, the publisher of Rubbish Magazine in London, is introducing a collection of finger puppets in their likenesses as a sort of tribute to famous fashion figures around the world.”

Hermès Autumn/Winter 2009, courtesy of Hermès

Jean Paul Gaultier Said to be Leaving Hermès (Fashion Week Daily)
“Change is brewing at Hermès, and it’s starting with Jean Paul Gaultier. The designer is said to be resigning from the company; his last collection for the house is due to bow in Paris this October.”

Liberty linked to Target collaboration (Drapers)
“Liberty, the iconic London department store, is reported to be in talks with US value chain Target about a collaboration on clothing next year.”

Escada Draws Interest From Several Investors, Handelsblatt Says (Bloomberg)
“Several investors are interested in buying German luxury clothing maker Escada AG, which filed for insolvency this month, Handelsblatt reported, without saying where it got the information.“

Fashion World Moves to Damp Sale Frenzy (Wall Street Journal)
“Next week begins the media blitz for Fashion’s Night Out—a global pep rally sponsored by two fashion icons, Anna Wintour and Diane von Furstenberg.”

Iconic floral prints, courtesy of Liberty

Liberty appoints advisers to review the business (Drapers)
“Liberty has confirmed it is set to appoint advisers to lead a review of the business, which could lead to a sale of the iconic London department store.”

LVMH, Chanel Force EU to Modify Draft Law on Internet Sales (Bloomberg)
“Luxury goods makers LVMH Moet Hennessy Louis Vuitton SA and Chanel SA may win more control over how Web-based retailers sell their products after a last- minute lobbying campaign over a draft European Union regulation.”

Why your price is right (FT)
Vanessa Friedman explores the “Dutch Auction,”  leaving pricing to the people.

Winning Designs in China: Standing Out to Fit In (Huffington Post)
“The Chinese consumer is becoming increasingly modern and internationalized. However, while “egos” and ambitions are huge, the “new generation” is not becoming “individualistic” in the Western sense – i.e., the peoples never define themselves independent of society.”

China becomes world’s 2nd largest luxury market (People’s Daily Online)
“If you think China is still a developing country, this piece of news is going to surprise you. China has overtaken the US to become the world’s second largest luxury market.”

Missoni S/S 09 ad campaign, courtesy of Missoni

Stars in their stripes: Missoni a fashion powerhouse (Independent)
“For 50 years, it has dressed the stylish in its striped and zig-zag knits. Missoni is a fashion powerhouse, a family business and, a new exhibition argues, an Italian national treasure.”

Fast Retailing Lives Up to Name With Global Gains (WSJ)
“Despite the economic gloom brought on by Japan’s shrinking domestic consumption, Fast Retailing Co. has had no trouble living up to its name: domestic same-store sales in May of its Uniqlo chain shot up 18.3%, extending on-year gains to seven consecutive months.”

From South Korea, Innovation in Menswear (New York Times)
“South Korea is shaping up as the next hotbed of innovative menswear, with three of its most prominent designers creating tailoring with a twist for an international audience just as Seoul itself is becoming something of a fashion center.”

Liberty to sell Sloane Street standalone (Drapers)
“Iconic department store Liberty has closed its standalone Liberty of London shop on Sloane Street 12 months after it opened, after receiving an offer for the lease.”

Glimmer of hope for fashion (Business World)
“After a ‘frosty’ start to the year – when there were fewer shows at the January Autumn/Winter 2009-2010 menswear fashion week – there are some positive signals emerging, according to Italy’s National Chamber of Fashion.”