Boss Black by Peter Lindbergh | Source: Hugo Boss

Permira to keep Hugo Boss, ProSieben for years (Reuters)
“Permira doesn’t plan to exit from media company ProSiebenSat.1 and fashion label Hugo Boss for a couple of years, the German head of the private equity company told Reuters.”

Chanel wins counterfeit case but is forced to pay damages (Telegraph)
“A seamstress who took Chanel to court for stealing her small firm’s crochet pattern has lost her counterfeit case but the famous fashion house was ordered to pay 400,000 euros for breach of contract.”

Do These Vuitton Ads Stretch Too Far? (Business Week)
“Instead of sexy models flaunting handbags and lots of skin, Louis Vuitton’s current ad campaign features Vermeer-inspired images of demure young women hand-finishing purses and wallets at a workshop table… There’s just one tiny detail missing. Hardly any Vuitton bags or wallets are handmade.”

Luxury shoppers still spending, but shelling out less (Los Angeles Times)
“The recession’s end hasn’t reached Rodeo Drive, where salesclerks can at times outnumber customers. But many stores are better prepared than last year, with leaner inventories and lower-priced goods.”

Retailers expect steady Christmas trading (Drapers)
“Every retailer surveyed in the British Retail Consortium’s Christmas Trading Snapshot Survey agreed that this year’s Christmas trading period would be at least as good as 2008.”

Valentino Autumn/Winter 2009 | Source: Valentino

Permira in talks to buy back Valentino debt-sources (Reuters)
“Private equity investor Permira is in talks to buy back some of the debt it amassed to purchase Italy’s Valentino Fashion Group two years ago, sources close to the matter said. Permira and other shareholders of Valentino Fashion Group plan to invest up to 300 million euros ($452 million) to reduce the Italian fashion house’s debt of about 2.2 billion euros by about a third.”

Roland Mouret to launch menswear (Drapers)
“Roland Mouret is to design a menswear collection that will launch in January. The luxury womenswear designer will introduce a 15-piece collection of men’s tailored clothing and separates.”

Saks faces dilemma as luxury shoppers stay away (Reuters)
“Swooning sales have forced Saks to expand its more affordable lines, given that the mindset of its traditional well-heeled shoppers has been changed by the financial crisis and as a result, they’re much more careful spenders now.”

Invest during a crisis to widen gap with competitors (Channel NewsAsia)
“LVMH believes that when a crisis hits, it is time to increase investments and not cut back. LVMH’s chairman and CEO, Bernard Arnault, said quality is even more paramount to customers during a downturn. He added that a crisis is a good time to push their brands even further ahead.”

A notch above (FT)
“After a rough ride during the height of the financial crisis, things could be starting to look up for the luxury industry. However, the shock to a sector accustomed until recently to double-digit growth has been severe. And this, say business schools, is why a management education programme focused on luxury is even more relevant to industry professionals than it was in the past.”