Macy’s announces closures, Prada not for sale, Armani’s first hotel, Thank you Merci, Great Venetia Scott

Macy’s to shut five underperforming stores (Reuters) “Macy’s Inc. said on Tuesday it was closing five of its namesake department stores, affecting about 307 employees, as it pares underperforming locations. Macy’s said it would offer jobs at nearby stores to displaced employees when possible.” Prada: Not for Sale (Business Week) “Prada SpA, the luxury company which has called off four attempts at

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Rachel Roy at Macy’s, Bulgari’s Q1 loss, Fashion sales rise, Prepping for Vionnet

Rachel Roy F/W 09, courtesy of Refinery29

Jones to sell exclusive Rachel Roy line at Macy’s (WSJ) “Jones Apparel Group Inc., which has a 50 percent stake in designer Rachel Roy, said it’s launching a contemporary line called Rachel Rachel Roy to be sold exclusively at Macy’s Inc.” Bulgari CEO Sees First Loss Since 1999, Then Rebound (Bloomberg) “Bulgari SpA Chief Executive Officer Francesco Trapani said he expects the Italian luxury

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Gucci’s Q1, Project Runway moves, Lundgren’s rich compensation, Hermès sets up on the beach

Gucci S/S 09 Ad campaign, courtesy of Gucci

Gucci CEO sees satisfactory Q1-report (Reuters) “Fashion house Gucci has had a satisfactory trend in the first quarter.” ‘Project Runway’ Will Move to Lifetime (WSJ) “Nearly a year of litigation between General Electric Co.’s NBC Universal and Weinstein Co. over “Project Runway” ended Wednesday with an agreement that allows Weinstein to move its popular reality-TV show to Lifetime

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Bottega’s cruise, Returns rise, LVMH strong in China, Macy’s loss

Bottega Veneta Invests in Cruise (WSJ) In a difficult time for luxury retailers, Bottega Veneta is launching a glitzy marketing campaign. Returns on the Rise–Retailers Are Rolling Out More Flexible Return Policies (WSJ) According to the Wall Street Journal, "Retailers are expected to see the value of merchandise returned in 2008 increase a whopping 23%." LVMH Stresses China Growth (WWD) LVMH "issued a statement saying its business in China remained strong." Macy's Posts $44M Loss in Q3 (DNR) In its Q3 ending in the 4th quarter, Macy's posted a $44M loss. Bottega Veneta's Cruise campaign, photo courtesy of Bottega Veneta.

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