Esprit’s China push, Neiman trades down, Moufarrige out, Madonna for D&G, Dsquared2’s humble roots

| Daily Digest

Esprit Fall/Holiday 2009 | Source: Esprit

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

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Sparkling BFAs, Neiman Marcus caution, Counterfeit crackdown, Burberry back at LFW, Wonderkid Wang

| Daily Digest

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

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Aquascutum sold, Fashion stimulus, Henry to Debenhams, Neiman Marcus Q4 down 23%, Richemont declines

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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

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Internet private sales, Couture endures, Neiman Marcus still down, Mass fashion retailers struggle

| Daily Digest

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

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

| Daily Digest

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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