Liberty explores sale, EU internet sales, Dutch auctions, Chinese consumers, China overtakes the US

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

…Continue Reading Break-up, September ad pages plummet, Discounting to 2010, US copyright law, Escada raises funds

Conde Nast Says Goodbye to, Hello to, (Ad Age) “Conde Nast will shut down one of its web-only brands,, when it gives two of its titles, GQ and Details, their own websites in October.” September Ad-Page Tallies Plunge (Ad Age) “Is September now the cruelest month? It may very well be for fashion and beauty titles this year. The final tallies for those crucial issues

…Continue Reading

Escada on bankruptcy brink, Luxury sales, Cartier courts talent, Korean Luxury, UK Retail sales rise

Escada ad in Berlin

Escada in talks with insolvency experts (Drapers) “German womenswear brand Escada may cease to trade as it teeters on the brink of insolvency, according to its chairman Bruno Saelzer.” Sales ring the alarm on what defines luxury (Gulf News) “Inventory-driven business models now rule much of the high street apparel on offer. But the heavily discounted sales across town come to an abrupt end when you stumble upon

…Continue Reading

Luxe Redux, Gaultier is inspired, Jil Sander for Uniqlo, Standouts spur spending

Jean-Paul Gaultier Couture A/W 09, courtesy of Coutorture

Luxe Redux (Reuters) “Lavish. Silent. Undisturbed. Visiting luxury boutiques these days can seem like stepping into a time capsule, and in a sense, you are, as retail and marketing plans and products conceived during the bully days of early 2008 are still on display and feel, in this post-luxury age, as anachronistic and appealing as Zeppelin travel after the Hindenburg disaster.” Let crisis inspire haute couture, says

…Continue Reading

Indies go online, Downturn hits UAE, Lunch with Manolo, Bangladeshi protests, The skinny on men’s jeans

Indies click onto online portal to boost sales (Drapers) “An increasing number of independent retailers are planning to plug into online portals to help raise their profile and drive online sales.” Wealthy look for value as downturn bites (The National) “Luxury retailers in the UAE are stocking more lower-priced items and classic pieces to cater to a new customer mentality after the economic downturn.” Lunch

…Continue Reading

PPR’s green film, Future of fashion shows, Gilt Groupe’s capital, Luxury in the Hamptons, BRC “Consumer Advocate”

U.S. 2010 Olympic dress, by Polo Ralph Lauren

Luxury-Goods Makers Brandish Green Credentials (WSJ) “The bad economy and a fundamental shift in the market for luxury goods are forcing an industry that reveres names like Chanel and Versace to embrace a different icon: Mother Nature.” See video here. If You Gave a Fashion Show and No One Came… (WSJ) “Until a few years ago, the magazine editors and retailers who attended runway shows closely guarded access

…Continue Reading

Retail rents to drop, Loewe appoints new CEO, Recession-proof handbags, India repositions

Empty retail space

Retail rents to drop 20% by end of next year (Drapers) “Retail rents are expected to drop by almost a fifth by the end of next year, as struggling retailers demand cheaper leasing deals in the recession.” Loewe appoints Lisa Montague as CEO (Drapers) “Lisa Montague will be reunited with designer Stuart Vevers when she joins luxury brand Loewe as chief executive later this year.” India tells foreign luxury

…Continue Reading

FT Business of Luxury Summit | Debating the Future of the Industry

MONTE CARLO, Monaco — The global luxury industry has descended on the luxurious and beautiful principality of Monaco to discuss the future of luxury at the Financial Times Business of Luxury Summit at a time when there seem to be far more questions than answers. I am delighted to be representing Luxury Society, which is an official media partner of the conference. To start off the conference, we heard from Bernard Arnault, Chairman

…Continue Reading

Luxury strategy revisited, Interview: Bernard Arnault, Gaultier goes 2.0, Britain’s fashion graduates

"Love of Pink" perfume ad, courtesy of Lacoste

Luxury marketing plays by a different set of rules (FT) “The present economic crisis has forced all companies to question their strategies and practices, and this has never been more crucial than for luxury brands and marketing.” Bernard Arnault: How to manage the transition into quality (FT) “Bernard Arnault, chairman of Möet Hennessy Louis Vuitton, the largest luxury company in the world, does not like the word

…Continue Reading

Inditex Q1 loss, Net-a-Porter profits treble, Bulgari issues bond, China may escape, Ferraris to Versace

Zara S/S 09 ad campaign, courtesy of Zara

Inditex 1Q Net Pft Down 16%; May Trading Resilient (WSJ) “Inditex SA (ITX.MC), Europe’s largest fashion retailer by revenue, Wednesday said its first quarter net profit fell 16 percent on a slump in consumer spending in Europe, but its stock rallied after it reported resilient clothing sales in May and the first week of June.” Net-a-Porter demonstrates strength of business model as profits treble (FT)

…Continue Reading

CEO Talk | Greg Furman, Founder and Chairman, Luxury Marketing Council

Greg Furman

NEW YORK, United States — As the recession wears on, luxury companies are beginning to realise they will have to do more than cut costs in order to survive this downturn. Indeed, for many brands, a fundamental repositioning and reevaluation of their long-standing strategies may be in order. In this kind of environment, many luxury executives turn to the New York-based Luxury Marketing Council, where their membership enables them to

…Continue Reading

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

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,

…Continue Reading

Friday Column | Japanese Luxury Fatigue

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

…Continue Reading