LONDON, United Kingdom — London, of course, is widely known in the fashion world for its unbridled creativity and superb emerging fashion talent. But, increasingly, it could also be described as fashion’s Silicon Valley, with a growing number of innovative fashion ecommerce startups sprouting in the city, following in the footsteps of the ultimate luxury e-tailing pioneer, Net-a-Porter.com. During my visit to Vienna
Inditex 1Q Net Pft Down 16%; May Trading Resilient (WSJ) “Inditex SA (ITX.MC), Europe’s largest fashion retailer by revenue, Wednesday said its first quarter net profit fell 16 percent on a slump in consumer spending in Europe, but its stock rallied after it reported resilient clothing sales in May and the first week of June.” Net-a-Porter demonstrates strength of business model as profits treble (FT)
[caption id="attachment_2450" align="alignnone" width="501" caption="Stefano Pilati of YSL, courtesy of Wallpaper"][/caption] Black is back at Yves Saint Laurent (Financial Times) After ten years of losses, Yves Saint Laurent breaks even amid the current recession. Net-a-Porter profits rocket (Drapers) Due to improved margins, Net-a-Porter's pre tax profits are up 300 percent to £9 million. Wal-Mart's Profits Attributable to Sad State of Economy (Seeking Alpha) "Wal-Mart is one of the few stalwarts to actually expand business amidst today's financial carnage and the glowing statistics are not to be mistaken for a grandiose harbinger of U.S. economic vitality." Christian Lacroix Heads Back to the Basics (WSJ) As a response to the economic tumult, Lacroix pulled back on his signature exuberance.
Net-a-Porter gives details of discount venture (Drapers) As revealed in BoF’s exclusive interview with Natalie Massenet in November, Net-a-Porter will launch a discount e-Commerce venture called Outnet.com. Milan’s Choice: Appeal to Reason or the Gut? (WSJ) In order to lure customers, designers in Milan employed polarising design strategies. Mulberry to beat expectations (Drapers) According to Mulberry, the holiday
LONDON, United Kingdom – When Natalie Massenet talks, people listen. It wasn’t always that way. When Massenet first proposed the idea of selling luxury products online in 1999, she faced more than a few doubters. Nobody doubts her now. Frequently described as one of the most influential women in the fashion business, as Chairman and Founder of NET-A-PORTER, Massenet has built the pre-eminent online luxury