Alexander McQueen Autumn/Winter 2010 | Source: Style.com

A light in the darkness (Style.com)
“In Alexander McQueen’s final collection, medieval influences transformed into calm, poetic beauty.”

Phillips-Van Heusen May Gain From Buying Hilfiger (Bloomberg)
“Phillips-Van Heusen would gain extra profit within a year of a reported potential acquisition of Tommy Hilfiger Corp.”

Neiman Marcus posts profit as sales start improving (Reuters)
“Neiman Marcus reported a quarterly profit on Tuesday as shoppers returned to its upscale department stores over the holidays and the retailer avoided profit-devouring discounts by keeping inventories low.”

2010 landmark year as online ad spending overtakes print (Biz Report)
“New figures released by research firm Outsell show that, for the first time ever, businesses plan to spend more this year on digital and online advertising and marketing than on print.”

Can Sackcloth Have Fur Trim? (NY Times)
“Perhaps sensing that fashion editors, at this point, did not need to see another plain camel coat, Karl Lagerfeld showed a Chanel collection on Tuesday that combined seven or eight ideas in a single outfit.”

Browns' 40th Anniversary | Source: Browns

Browns celebrates 40 years in fashion (Telegraph)
“The John Galliano shirt wasn’t my first temptation at Browns, but has somehow come to represent what the shop stands for. Some four decades on, it has kept the flag flying for delightful conspicuous expenditure.”

Neiman boosted by sales revival (FT)
“Neiman Marcus, yesterday said its February store sales had improved, underlining the continuing revival of US luxury spending. The retailer said comparable sales rose 5.1 per cent in February from the same period the previous year.”

Women dominate mobile social networking scene (Biz Report)
“Over half (55%) of mobile social networkers were found to be women – not teens, who are more likely to use their devices to text. In fact, teenagers and college students combined account for less mobile social network traffic than their parents.”

Retailers are taking Liberty to heart (Independent)
“Target’s collaboration with the iconic London department store has resulted in the characteristic flower and paisley prints appearing on dresses, jumpsuits, swimsuits, bags, and even some home accessories, hitting US stores March 14.”

Fashion falls for Alice (The Toronto Star)
“Fashionable institutions are also falling down the rabbit hole in their rush to embrace the wonderment that is Alice. Paris’s Printemps and London’s Selfridges have dedicated entire display windows to fantastical scenes.”

Hermès Timeless Silk Twill Ties | Source: Hermès

It’s a Man’s World (Newsweek)
“Just as some educators believe that single-sex classrooms are better for learning, some luxury brands are finding that single-sex boutiques boost the bottom line. While it’s not exactly a man’s world on Main Street, luxury brands are increasingly offering greater exclusivity in men-only shops.”

Versace Agrees on Job Cuts, Unveils Lower-Priced Women’s Line (Bloomberg)
“Gianni Versace has signed a preliminary agreement with unions on job cuts in Italy and introduced a lower-priced women’s wear collection as part of a plan to return to profitability in 2011.”

H&M fashions hopes of revival (FT)
“The results suggested H&M could be turning the corner after a series of disappointing sales figures last year… Karl-Johan Persson, H&M chief executive, said the economic outlook remained uncertain but predicted same-store sales would increase in 2010.”

Despite Economy, Neiman Marcus Stays Glamorous (Brand Channel)
“‘We have no intention of changing our business model or trading down,’ chief executive Burt Tansky told Wall Street analysts on a conference call last month. ‘It’s important to reiterate that we will continue to offer our customers the luxury and designer merchandise that they want to buy.’”

Juicy Couture’s Founders Step Back (Fashionista)
“Juicy Couture’s dynamic co-founders Gela Nash-Taylor and Pamela Skaist-Levy are stepping down as creative directors.  There will soon be a new creative director—Nash-Taylor and Skaist-Levy will transition into creative consultant roles.”

Holt Renfrew Flagship, Toronto | Source: 3G Lighting

Changes at the top for Holts (Globe and Mail)
“Upscale fashion retailer Holt Renfrew & Co. has replaced its president Caryn Lerner with company insider Mark Derbyshire, making the leadership change just as it is gearing up for a more prosperous economic environment.”

Neiman Marcus key sales figure climbs in December (Business Week)
“Luxury retailer Neiman Marcus Inc. said Thursday that sales at its namesake stores and Bergdorf Goodman locations open at least a year rose 4.5 percent in December, as shoppers picked up designer handbags, jewelry, shoes and men’s and women’s clothing.”

Like-for-likes drop at Gap’s international stores (Drapers)
“Gap, the US casualwear giant, said like-for-likes at its international stores fell 1% in the five weeks to January 2, compared with a 5% drop over the same period last year.”

Luxury brands turn to DNA for protection (Toronto Sun)
“A New York state-based company has announced it will be adding genetic material to some high-end products. Applied DNA Sciences, based in Stony Brook, N.Y., said it has reached an agreement to supply a European luxury goods company with DNA markers to protect its products from counterfeiters.”

Charles Kleibacker, Fashion Designer, Dies at 88 (NY Times)
“Charles Kleibacker, a former fashion designer whose taste for intricately constructed gowns gave him the nickname Master of the Bias in the 1960s, died Sunday in Columbus, Ohio. He was 88.”

Esprit Casual Fall/Holiday 2009 | Source: Brandthink

HK’s Esprit buys $500M JV stake in China push (Reuters)
“Hong Kong fashion retailer Esprit Holdings is buying out its partner in a Chinese retail joint venture for HK$3.88 billion ($500 million) as part of a drive to expand in the world’s third largest economy. The deal will see Esprit take full control of the 10-year-old venture, while China Resources Enterprise, which is selling the stake, will focus on its core businesses.”

Neiman Enlists Designers in Cost-Cutting Plan (WSJ)
“Burton Tansky, the 71-year-old rag-trade journeyman who has led Neiman Marcus Group for nearly a decade, is quietly refashioning the upscale department store chain for an age of belt-tightening and less conspicuous consumption. Mr. Tansky, Neiman’s chairman and CEO, is pressing suppliers to produce lower-priced versions of designer styles, a stark reversal for a chain long labeled ‘Needless Markup’ by more frugal-minded shoppers.”

Fashion boss who hired Lindsay Lohan leaves Ungaro (Reuters)
“Mounir Moufarrige, president and chief executive of French fashion house Emanuel Ungaro, has resigned just over two months after a widely panned collection by American actress Lindsay Lohan. Ungaro said in a statement on Wednesday that Moufarrige would continue to advise the company, which has gone through several stylists and two chief executives since couturier Emanuel Ungaro retired in 2004.”

Madonna does the dishes (Telegraph)
“But the pop star has not let her glamourous image slide, the pictures are acutally part of a photo shoot to promote the Dolce & Gabbana spring/summer clothes campaign.Madonna takes on the role of housewife for the campaign, in which she is also pictured preparing vegetables and tucking into a plate of pasta with her hands, sat on top of a kitchen work surface.”

Dsquared2’s Caten twins launching into limelight (AP)
“The twin-brother team behind the fashion label Dsquared2 are on TV and the radio, they created concert costumes for Madonna and Britney Spears, and they’ll be outfitting the headlining performers at the opening and closing ceremonies at the 2010 Winter Olympics… But any time it seems success might go to their heads, they remember their modest Canadian roots and have a good chuckle.”

Holly Fulton A/W 09, Swarovski Emerging Talent Award Winner | Source: Dazed

British Fashion Awards 2009 – The Winners (Independent)
“British fashion’s leading lights were rubbing shoulder pads last night at the prestigious annual awards which celebrate home-grown design talent and business success and are voted for by industry leaders, designers and retailers.”

Neiman Marcus sees weak luxury demand (FT)
“Neiman Marcus, the US luxury retailer, said on Wednesday it was seeing “some encouraging signs” of a recovery in parts of its high-end business, while warning that it expected overall demand to remain weak for some time.”

New York cracks down on counterfeit luxury goods (Reuters)
“New York authorities are cracking down on the sale of counterfeit luxury items, shutting down 31 stalls in raids on Tuesday and Wednesday and seizing $1 million of fake bags and watches.”

Burberry confirms London Fashion Week return (Drapers)
“Burberry chief creative officer Christopher Bailey has confirmed that the luxury British brand will stay at London Fashion Week this February.”

Alexander Wang, for Cool Kids, and Now You (NY Times)
“Don’t tell Alexander Wang that blue is the new black or that wedge-heel boots are the season’s must-have. Such airy edicts would most likely make him laugh. “No one talks like that anymore,” said Mr. Wang, whose keen sense of what young women want to wear is matched only by his no-nonsense approach to his, um, métier.”

Aquascutum A/W 09 ad campaign, courtesy of Aquascutum

Tillman Buys Storied Clothier Aquascutum (WSJ)
“U.K. retail mogul Harold Tillman, chairman and majority owner of Jaeger Ltd., has purchased Aquascutum Group PLC, the luxury clothier and trench-coat maker that has dressed British elites from Margaret Thatcher to Sean Connery for 158 years.”

Fashion elite tries on stimulus for size (FT)
“The fashion industry in 13 countries will on Thursday attempt to do what central bankers have struggled to do: get consumers spending again.”

Debenhams to confirm Henry Holland deal (Drapers)
“Debenhams is expected to confirm that it has signed London Fashion Week designer Henry Holland to join its Designers at Debenhams range at its pre-close trading update next week.”

Neiman Marcus, Inc. Reports Fourth Quarter and Fiscal Year 2009 Results (Reuters)
“For the fourth quarter of fiscal year 2009, the Company reported total revenues of $768.0 million compared to $1.03 billion in the prior year. Comparable revenues decreased 23.4 percent.”

Richemont Five-Month Revenue Declines 16% as Rich Cut Spending (Bloomberg)
“Cie. Financiere Richemont SA, the world’s largest jewelry maker, said five-month revenue fell 16 percent as wealthy customers reduced spending on Cartier jewelry and Montblanc watches.”

Private Sale

Designer Bargains, for the Invited (WSJ)
“Online retail startups that specialize in “private sales” of discount designer apparel are gaining traction in the U.S. and, armed with fresh venture capital, plan to branch into new businesses.”

Couture houses refuse to tumble (Toronto Star)
“You can never be too rich, too thin or own too many couture items. High-end buyers continue to pop in to Paris for the shows.”

Neiman Marcus, Inc. Reports June Revenues (WSJ)
“In the five-week June period, comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, decreased 23.0 percent. The Company experienced weakness across all geographies and merchandise categories in the Specialty Retail Stores segment.”

Gap, Abercrombie June Sales Trail Analysts’ Estimates (Bloomberg)
“Gap Inc. and Abercrombie & Fitch Co. reported June sales declines that were steeper than analysts estimated as a rise in U.S. unemployment and a drop in consumer confidence kept shoppers away from the malls.”

American Apparel June same-store sales drop 13 pct (MSN Money)
“Many merchants in June struggled to drum up sales amid continuing worries about the overall economy and jobs, but clothing retailers have been particularly hard hit as consumers cut back on discretionary spending.”

Neiman Marcus, 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 painful year for print media, the decline in magazine advertising pages accelerated with each passing quarter of 2008.”

The Vulgar Game (Newsweek)
The luxury industry’s seeming turnaround from promoting conspicuous consumption to conscious consumption amid the recession seems insincere.

Back to his heartland: Giambattista Valli’s Italian odyssey (IHT)
Suzy Menkes profiles Giambattista Valli, the Italian, Paris-based designer who many consider to be the next Valentino.

As the big three U.S. automakers await to hear their fate on a requested bailout from the U.S. government and Citigroup teeters on the verge of bankruptcy, it now seems that the fall of Lehman Brothers, Bear Stearns and other corporate casualities was just the beginning of what is likely to be a global economic meltdown of epic proportions.

With this as the backdrop, a reader recently wrote in to ask about the prospects for aspiring job seekers in the fashion industry more generally. Others have been wondering how some of the emerging businesses that have come to the fore in recent years are faring.

The short answer to both questions is that things are extremely tough out there, but there is always opportunity for innovators.

… Continue Reading