Mixed emotions at Prada, Lululemon stalls, Gilt doubles down, Pinault in conversation, Kors chat

| Daily Digest

Prada's flagship store in Milan | Source: LA Times

Prada frets about tourist stayaways (Reuters) “First-quarter profit doubled at the Milan-based maker of colored Miu Miu dresses, outpacing revenue growth, but the company is not immune from concerns about the euro zone, a sluggish U.S. recovery and a possible slowdown in Asia.” Lululemon CEO Eyes Holidays After Sales Miss (Bloomberg) “Chief Executive Officer Christine Day was unapologetic after projections for

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PPR and Yoox, Versace seeks investors, New York start-ups, London menswear, Laidback Lim

| Daily Digest

Phillip Lim by Nagi Sakai | Source: The Fashionisto

PPR Signs Letter of Intent With Yoox for Online Luxury Venture (Bloomberg) “PPR signed a non-binding letter of intent with Yoox SpA, an Italian online fashion retailer, to set up an e-commerce venture for PPR’s luxury brands. PPR plans to have more than 1 billion euros ($1.25 billion) of sales online by 2020.” Fashion house Versace may seek outside investors (Reuters) “Italian family-owned fashion house Versace may seek

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Glare on Alber, Yoox and PPR in JV talks, Gap inches back, Facebook float, Pinterest’s riches

| Daily Digest

Alber Elbaz | Source: Hypebeast

In the Spotlight’s Glare (NY Times) “Much of what has been written about Mr. Elbaz on the occasion of his 10th anniversary as the designer of Lanvin, a milestone that normally might merit a mention somewhere near the classifieds, could illustrate what is a rare example in the catty fashion industry of the Buddhist concept of mudita, or taking pleasure in another person’s good fortune. These days, everyone seems to love him,

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Market Pulse | No Sparkle Despite Shiny Results

| Market Pulse

Savigny Luxury Index April 2012 | Source: Savigny Partners

LONDON, United Kingdom — The Savigny Luxury Index (SLI) continued its sluggish performance this month, ending almost flat (SLI components actually fell an average of nearly 2 percent when expressed in local currency) compared to a drop of 0.7 percent in the benchmark MSCI World Index (MSCI).  Newsflow was good overall, with strong results and two successful IPOs, but dampened somewhat by concerns about growth prospects. Big news

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Gap’s brand lab, Italian IPO appeal, PPR sustainability plan, Social gifting, Tumblr show

| Daily Digest

Brunello Cucinelli Spring/Summer 2012 | Source: Neiman Marcus

A Humbled Gap Tries a Fresh Coat of Pep (NY Times) “Yet this is a Gap — at the Grove, an upscale mall in Los Angeles. Only it’s more than a Gap — it’s a laboratory for reviving the brand, one of the great hot-to-not stories of American retailing” Cucinelli’s stellar debut seen boosting Italy IPO appeal (Reuters) “Italian cashmere specialist Brunello Cucinelli made a sparkling market debut in Milan on Friday,

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