Armani profits drop, PPR focuses, Puma restructures, Uniqlo thrives, Fashion embraces activism

Armani's 5th Ave. store, courtesy of Armani

Armani profits drop 14% in ‘difficult’ year (FT) “Giorgio Armani, the trend-setting Italian fashion group, reported a 14.6 per cent fall in profits in 2008 in spite of a slight rise in revenues and the opening of 50 new stores, as its owner reflected on a ‘difficult’ year for the industry.” PPR says to focus on cash and cost-cutting (Reuters) “French retail and luxury group PPR on Thursday

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Future of Luxury, PPR declines, Sustainable retail, Mizrahi’s Liz launches, Coach profits drop

http://www.youtube.com/v/DJZO3Qs50X8&hl=en&fs=1"

The Future of Luxury in a Recession (Atelier) As companies like Coach, Gucci Group and LVMH report their results this week, this video from Atelier, a division of Leo Burnett, highlights some of the cataclysmic changes in consumer behaviour that will drive the luxury of the future. What do you think of their assertions? PPR Says Luxury Sales Remain ‘Sluggish’ (WSJ) “Mass retail and fashion group PPR SA posted a

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Oscars and the economy, PPR sales slow, America’s popular stores, Uniqlo’s founder is Japan’s richest

Oscars Evolve With Economy (WWD) “With the worldwide economy in turmoil, glamour lives in the run-up to Hollywood’s annual Academy Awards extravaganza on Sunday night, but brands are finding ways to save a buck.” (Subscription required) PPR sees fourth quarter sales slow (Drapers) Although PPR, the French conglomerate that owns Gucci, saw revenues rise in 2008, its fourth quarter earnings slowed. America’s

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PPR: Analyst downgrade drives down stock price

PPR, the Paris-based conglomerate, saw its stock price drop after Credit Suisse analyst Tony Shiret downgraded the stock from "outperform" to "neutral" in his analyst report released yesterday. Shiret reduced his target price for PPR stock by 27% from 144 euros to 105 euros and the stock closed at 110.63 euros in Paris, down 4% for the day and the lowest price since January. According to Shiret The group is becoming less, rather than more, strategically focused. We continue to feel uneasy about the widening scope of the business. Shiret noted that as he tried to do forecasts for PPR going forward, he was struck by how many parts there are to the business. In particular, the report singles out…

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Industry chatter: PPR Going after Clarins?

If rumours floating around Paris yesterday are on the ball, then PPR's Francois-Henri Pinault has now got his acquisitive eyes fixed on Clarins. The French cosmetics company saw its stock jump 7.7% on the speculation that PPR would make a bid for company in the coming days, pushing its market capitalisation to more than 2.6b euros. This rumour follows previous speculation that L'Oreal would make a bid for Clarins, after the death of its founder Jacques Courtin-Clarins in March of this year. Acquisition rumours like this are a dime a dozen. But, this one might actually have some legs. An industry insider sitting next to me at last evening's Walpole Awards said that attempts to reach PPR and Clarins to…

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