Neiman Marcus layoffs, Retail collapse, Magazine ads evaporate, Luxury’s turnaround, Giambattista Valli

Photo courtesy of Alfred Eisenstaedt

Neiman Sets 375 Layoffs Amid Slump (WSJ) Neiman Marcus is laying off 375 people or 3% of its workforce. Retail Sales Collapse, But Keep the News in Perspective (Seeking Alpha) From August to December, retail sales collapsed 24%. “But it’s important to remember that there is a lot of psychology in these numbers,” reports Seeking Alpha. Magazine Ads Evaporated in 2008, Faster as Months Went On (WSJ) “Capping a

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L.A. boutique shutdowns, Luxury spending rules, Ideeli’s recession proof retail model, Sales plummet in December

Store fronts on Rodeo Drive, photo courtesy of WWD.

L.A. Specialty Boutiques Rocked by Shutdowns (WWD) In LA, troubled boutiques are closing in droves. The New Rules Of Luxury Spending (Forbes) “Today’s high-net-worth consumers are still spending–but they’re putting more thought into their purchases.” Ideeli.com, Ideal Online Shopping? (JC Report) Ideeli’s invitation only online retail model is proving to be recession proof. Retail Sales Tumbled

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Luxury Outlook | Hermès continues to defy gravity

Savigny Luxury Index Since Jan 1, 2007, Courtesy of Savigny Partners

LONDON, United Kingdom — It’s all been a bit doom and gloom around here for months now, and I’m afraid the latest Savigny Luxury Index (SLI) does not deviate from this theme. Valuation multiples have dropped from a peak of 13x EBITDA (operating profit) in June 2007 to 8.5x EBITDA just before Christmas, effectively wiping billions off of the market capitalisation of luxury stocks. But there is still some good news for

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Theyskens at Nina Ricci, Retail stocks, New consumer mind-set, Retail winners and losers

Nina Ricci Pre fall 2009, courtesy of WWD

Nina Ricci: Theysken’s Beat Goes On (WWD) Olivier Theyskens will be staying put at Nina Ricci with an “expanded accessories line, particularly handbags.” Retail Stocks: Sizing Up 2009 (Seeking Alpha) Seeking Alpha lists the reasons why 2009 will be an ugly year for many brands. Retail’s winners and losers (Just-Style) Wal-Mart was a retail winner in 2008, but Gap and Abercrombie & Fitch were amongst the

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Calvin Klein underwear, Conde Nast’s ugly January, Retailer’s scrutiny, Grim December

Condé Nast's magazines, photo courtesy of the New York Times

Calvin Klein and the underwear revolution (Ponystep) Ponystep pays homage to Calvin Klein, the undisputed king of underwear. Prominent Magazines Lose Weight, Shedding Nearly Half Their Ads (New York Times) “It was an ugly January not just for Allure, but also for Condé Nast magazines in general.” The Coming Fallout: Who’s Vulnerable? (WWD) Due to the triple threat of recession, tight credit market, and low

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Shopping Outlook, Plastinina bankrupt, Retail slump, Terminal 5′s Luxe, Top 40 E-commerce

Tokyo shoppers checking out January deals, photo courtesy of the Wall Street Journal

Kira Plastinina Files for Bankruptcy–U.S. Firm Owes Creditors More Than $54 Million (WSJ) “Despite much publicity last year for being a teenage fashion mogul, Kira Plastinina has now filed for bankruptcy.” The 2009 Shopping Outlook (WSJ) “It’s only days into the new year but the retail forecast for 2009 already doesn’t appear to be rosy.” Footfall slumps on New Year’s Day (Drapers) “Footfall fell

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Friday Column | How to Survive the Recession

Hollywood stars take on the red carpet

LONDON, United Kingdom – According to analysts, we’ve just come through the worst holiday selling season in 40 years. If that’s not bad enough, Chanel announced that it is laying off 200 people in Paris. Chanel! That surprised everyone I spoke to in the industry. For one thing, Chanel is not masstige — it wasn’t catering to the masses, the part of the market said to be most impacted by the recession. For another thing,

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Creative Entrepreneurship | A Wish for 2009

NAIROBI, Kenya - The way things are looking, 2009 is going to be a very tough year indeed. And, with all the froth and gloss in the fashion business over of the past few years, it will not be surprising to see many fashion companies fail, especially those that have been able to coast on the excesses of easy credit, copy designs from others with impunity, and take advantage of benign conditions that have enabled even the most mediocre to succeed. But, the silver lining of this economic pain is that we will have to make do with less. We will have to be more resourceful than ever. And, as a result, creativity, innovation and entrepreneurship will flourish, as the…

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Luxury market resolutions, Anthropologie’s workshops, Children’s wear grows, “Buzzworthy” retailers

New Year

New Year’s Resolutions for the Luxury Market (US News & World Report) With the luxury market “receiving a beating this year,”the US News & World Report lists strategies for the industry to “resuscitate itself and land firmly on its feet.” Anthropologie Engages Shoppers With Craft Workshops (WWD) Anthropologie, the U.S. specialty store chain, holds a series of events to “teach women how to

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