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.”

Prada S/S 09 Ad campaign, courtesy of Prada

Prada lays foundations for future growth (Financial Times)
“Prada, the privately owned Italian fashion house, reported on Tuesday a 22 per cent fall in net profit for 2008 of €99m and sought to position itself for growth when the global economic crisis eases.”

Cartier cuts working hours as demand dwindles (Reuters)
“Richemont, the world’s second-largest luxury goods group behind LVMH, is cutting working hours at its main Cartier factory as the economic slowdown dampens demand for pricey timepieces.”

Gap to debut online via ASOS (Drapers)
“Gap will make its online debut in the UK via young fashion website ASOS this august.”

Missoni Store Debuts in London (WWD)
“Missoni is continuing its retail push, opening its first stand-alone store here as well as a unit in Casablanca, Morocco.” (Subscription required)

Ballantyne appoints chairman (Drapers)
“Premium knitwear brand Ballantyne has appointed Giacomo Canessa as Chairman.”