Buyer for Hartmarx, Luxury market woes, Fashion graduates outlook, Luxury challenges, Tommy gains

| Daily Digest

Barack Obama wearing a Hartmarx suit

British firm offers stitch in time to save Barack Obama’s tailor (Guardian) “About 3,000 midwestern factory workers at Hartmarx are lobbying creditors to accept a $128m (£79m) buyout by a London-based private equity firm, Emerisque Brands.” Fire Sale: Once Towering, the Luxury Market Teeters (Time) “The typical luxury consumer has traded in high-priced fashion for quality, durable goods at a lower price,

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Friday Column | Japanese Luxury Fatigue

| Tokyo

Prada flagship store in Omotesando, Tokyo

LONDON, United Kingdom — The scariest news I have recently read about luxury was in Tuesday’s Financial Times. The Japanese, it seems, have stopped buying luxury goods. Luxury imports in Japan were down 10 percent and sales of LVMH in the country were down 18 percent in the first quarter. And no, it’s not just the recession. “This is not a blip. This is a long-term shift in the market,” Brian Salsberg, the

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Aquascutum teetering, Lower profits for Zegna, Bergdorf and Neiman share talent, Luxury here to stay, Bastian buzz

| Daily Digest

Aquascutum S/S 09 ad campaign, courtesy of Aquascutum

Aquascutum puts entire workforce into consultation (Drapers) “Aquascutum has put its entire workforce into consultation, fueling speculation about the future of the luxury heritage brand.” Italy’s Zegna sees lower profits in 2009 (Reuters) “Italian luxury men’s suits maker Gruppo Ermenegildo Zegna forecast lower profits this year after a 20 percent drop in net profit excluding an extraordinary item for

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The Barbie dream, Brands look East, Luxury demand in India, Insurers harm recovery, Deflation fears increase

| Daily Digest

Chinese kids sold 'Barbie dream' (BBC) "Mattel, the world's largest toymaker, opened the world's first Barbie store in Shanghai in March of this year, offering patrons a chance to live and embrace the Barbie lifestyle in its entirety." (See video here) Luxury brands look to China amid global crisis (Forbes) "China's 6 billion euro ($8 billion) luxury market accounts for just 3 percent of global sales, but China and Brazil are projected to be the two fastest-growing luxury markets for the five years through 2012, according to consulting firm Bain & Co." Recession: No let-up in demand for designer wear (The Economic Times) "Those who are rich in the true sense have enough reserves to maintain their lifestyle. They are…

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Resilient Hermès, Analysts predict 2010 recovery, Most powerful luxury brands, Fashion’s blue book

| Daily Digest

http://www.youtube.com/v/9oTtvhqA-KM&hl=fr&fs=1"

Hermès Q1 sales get lift from bags, currencies (Reuters) “Hermès proved again it was resisting the crisis better than many of its rivals with a 3.2 percent rise in first-quarter sales, helped by exchange rates and resilient demand for its handbags.” Have a look at this video from the CBC’s Fashion File to see the underlying craftsmanship that has served the brand well during the downturn. Financial Analysts

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