MILAN, Italy — Moncler picked six securities firms led by Bank of America Corp. and Goldman Sachs Group Inc. to manage an initial public offering as soon as this year, according to three people with direct knowledge of the plan.
Tight belts take edge off Italian luxury (FT) “Italians have long balked at paying full price for the luxury goods they consider to be their birthright. But as austerity measures hit hard in the home of Prada, Versace and Armani, the quest for bargains and invitations to warehouse sales with rock-bottom prices has reached a new level of frenzy.” Online shoppers ready for busiest day (FT) “Online retailers are
Then Comes the 4th Dimension (IHT) “To be modern in fashion today, a designer needs a sculptural knowledge of the human body, an architect’s understanding of graphic proportions and an ability to absorb the digital revolution. Then comes the fourth dimension. The Paris shows for summer 2013 over fashion’s long weekend have divided the protagonists into those who get the depth of possibilities — and those who are still making
LONDON, United Kingdom — The M&A and IPO scene in luxury goods and fashion continues to storm ahead. This month’s Market Pulse reveals a redefined Savigny Luxury Index which now includes Italian fashion powerhouses Prada, and soon, Salvatore Ferragamo. Big news • Two very high-profile IPOs: Prada listed in Hong Kong on 24 June and Salvatore Ferragamo listed in Milan on 29 June. Both pulled off their IPOs amongst tricky
Spain’s Puig Group succeeds by swimming against the stream (FT) “Puig is an anomaly in the luxury market in a number of ways. It is the only Spanish luxury group. It is private and remains family-run. And it is… a ‘hybrid’ of fashion and fragrance… Marc Puig, chairman and the third generation of the family to run a company founded in 1914, says ‘We don’t really follow the normal
Will Top Firings Change Barneys’ Cool? (On the Runway) “Increasing Barneys’ profitability was a prime objective… The recession forced retailers to become leaner and more competitive, in particular with online sales, and that urgency will be critical to Barneys’ cool.” Moncler fights against fakes (Fashion United) “The Italian Fashion Chamber is joining Moncler and also stepping up against fakes…