Net-a-Porter features Utility Chic | Source: Net-a-Porter

Net-a-Porter is being acquired for up to £350m by Richemont (Telegraph)
“The deal, expected to be completed this week, will see founder Natalie Massenet, a former fashion journalist, become at least £50m richer as Richemont acquires the remaining 70pc of the company it doesn’t already own.”

Phillips-Van Heusen Acquires Hilfiger for $3 Billion (NY Times)
“Phillips-Van Heusen, the clothing conglomerate that owns Calvin Klein, announced Monday that it would buy Tommy Hilfiger, once a leading purveyor of colorful preppy clothing, for about 2.2 billion euros, or $3 billion.”

Prada accused of maltreatment (Japan Times)
“A senior manager at Prada Japan has filed a legal complaint against the Italian fashion label, accusing the company of harassment and discrimination based on appearance and alleging it maltreated other employees in the past.”

Liberty back in fashion as store weighs up bid approaches (FT)
“Liberty, the listed upmarket London retailer, is in take-over talks with Marco Capello, the former managing director of Merrill Lynch Global Private Equity , in a deal that could value the group at about £40m.”

Gen Y Will End Luxury Drought — In ‘20 (Media Post)
“The last two years have permanently altered America’s relationship with the luxe life, says Pamela Danziger… While Gen Y definitely has champagne tastes, they won’t be able to back it up with real bucks for another decade or so.”

Italian fabrics by Alessandro Scotti | Source: WSJ

In Italy’s Mills, a New Spin Emerges (WSJ)
“Factories in China are proving as adept at copying fabrics as films and handbags… While worried, Mr. Ferla is relying on his quality-focused business strategy.”

Luxury Shame Thrives on Facebook (Slate)
“According to a new report from research firm Unity Marketing, nearly 80% of ‘affluent luxury consumers’ belong to a social network… Not surprisingly, well-off consumers engage differently with their favorite brands on Facebook.”

Men’s fashion takes centre stage in London (Independent)
“From Savile Row suits to S&M leathers, the autumn/winter menswear shows at London Fashion Week today ranged right across the style spectrum.”

What Milan Fashion Did for Anna (WSJ)
“Designers in Milan face a chaotic crunch as they scramble to fit 88 runway shows into about 70 hours over six days to accommodate the Vogue editor-in-chief’s plans to stay just four days in Milan instead of a full week.”

Foxy Lady: Gaga To Wear Armani and Prada on Tour (WWD)
“Lady Gaga has tapped two fashion houses — Armani and Prada — to help outfit her for the overseas leg of her Monster Ball tour, which began last week in Manchester.”

George Davies | Source: George Davies

George Davies has further designs on women (Guardian)
“The man who invented Next and George at Asda is launching a spring collection with a brand new label. …GIVe – Davies’s fourth attempt to capture the hearts and minds of British women.  With the launch of its spring collection only days away, he cautiously reflects: ‘We are where I hoped we’d be when we set off. Overall, I’m happy.’”

Prada sounds positive note (FT)
“In a glimmer of good news for the luxury goods industry, Pradayesterday said its operating profit for 2009 would be better than the previous year and better than forecast in its own budget.”

Yoox ‘09 sales rose 50 percent (Reuters)
“Online fashion retailer Yoox reported on Monday a 50 percent rise in 2009 sales, as consumers grew more comfortable and confident in using the Internet to shop.”

Liberty of London creative director exits (Retail Week)
“Tamara Salman, the creative director of the Liberty of London brand, has left the business. Liberty buying director Ed Burstell is reported to be taking over her responsibilities.”

The fashion stars of Central Saint Martins (Guardian)
“As the famous fashion school prepares to leave Soho, Louise Wilson, its razor-tongued head of MA fashion, talks us through her next generation of style superstars.”

Barney's New York | Source: Arabiya

Istithmar World chief resigns (FT)
“The chief executive of Dubai World’s investment arm has resigned as the emirate focuses on unwinding Istithmar World’s debt-laden portfolio of overseas assets amid the restructuring of its holding company.”

Chinese outspend Russians in France (Reuters)
“Tourists from China spend more in French boutiques than visitors from Russia, and they tend to splash out on fashion goods much more than on jewellery or perfume, a study released on Thursday showed.”

India’s wealthy soak up luxury (The National)
“Laleh Busheri used to take two trips a year to New York’s high-end shopping district on Fifth Avenue… But not any more. Now Ms Busheri, an editor in Mumbai for the lifestyle magazine Preview Asia, can find every luxury item she wants in her home city.”

Prada Teams Up With Chinese Artist Yang Fudong For “First Spring” (Jing Daily)
“It seems that Shanghai is becoming the go-to spot for the world’s top fashion brands, not only for new customers but for inspiration as well… This week, Prada released a short film made in partnership with the Chinese contemporary artist Yang Fudong, one of the country’s most renowned photographers.”

Haute Couture in Paris: what’s new this season? (Relax News)
“While the fashion community will be lamenting the absence of Christian Lacroix, who for the first time since 1987 won’t be part of the haute couture shows, this season will also see a more positive novelty: the first-ever jewelry presentations during the event.”

Coach Spring Summer 2010 Poppy Collection | Source: Coach

Not quite a luxury resurgence (Marketwatch)
“The U.S. economy may be slowly coming out of recession, but it appears we’re still pretty conservative when it comes to buying.”

What Hermès’ New Chinese Brand Means for the Luxury Industry (Fashionista)
“Three days before Christmas, the savvy folks over at godly luxury company Hermès quietly announced that they would launch a new brand in China called Shang Xia. The label will incorporate Chinese raw materials and local craftsmanship tailored to the specific desires of the Chinese luxury consumer.”

At Milan’s Fall Shows, the Clothes Go Marching On (NY Times)
“The trench coats, Eisenhower jackets and jumpsuits produced to outfit soldiers in different wars and divergent eras are still with us — or they were throughout the last four days, when designers showing men’s wear for fall seemed to have war on their subconscious minds.”

Fashion Week Underlines Berlin’s Rising Status (ABC)
“Young designers showed off edgy new clothing on Wednesday as Berlin’s fashion week opened, an event that underlines the German capital’s hopes of establishing itself as a fashion power… Event organizers say Berlin — which has grown consistently since its start in 2007 — is now the fifth-largest.”

Britain’s best fashion bloggers (Telegraph)
“The newest power players in the fashion industry aren’t designers or models, they’re bloggers. Jessica Salter meets Britain’s pioneer online style-watchers.”

Macy's Herald Square Advertisement, 1906 | Source: Gjenvick

Macy’s to shut five underperforming stores (Reuters)
“Macy’s Inc. said on Tuesday it was closing five of its namesake department stores, affecting about 307 employees, as it pares underperforming locations. Macy’s said it would offer jobs at nearby stores to displaced employees when possible.”

Prada: Not for Sale (Business Week)
“Prada SpA, the luxury company which has called off four attempts at an initial public offering in the last 10 years, denied a New York Post report that it is in talks to sell a stake to Financiere Richemont.”

Armani opens first design hotel in March (Independent)
“More hotels are planned for Milan, New York, Tokyo, Shanghai and London, although no dates have been specified at this point… Overall, Armani ‘plans to open at least ten hotels and resorts within the next ten years,’ according to a statement.”

Merci: A Concept That Slowly Spells Itself Out (NY Times)
“But Merci isn’t a pointed exercise in high-low, some clash of Chanel and Gap. It’s more like a place that reflects what people actually like and how they actually want to shop. Heartened not just by the selection but by a sense of aesthetic freedom, I found even more eccentric delights…’It’s like Colette for grown-ups’.”

Venetia: Great Scott (Ponystep)
“Venetia Scott is the stylist who stripped away the impenetrable veneer of fashion in the early 90’s. Together with photographer Juergen Teller, her sense of spirit dismantled existing preconceptions of glamour and brought personality as well as earthy grit to dressing.”

Prada Autumn/Winter 2009 | Source: Prada

Luxury jewelry maker Richemont eyes Prada stake (New York Post)
“Prada is close to a tie-up with Swiss watch and jewelry maker Richemont that could shake up the luxury landscape worldwide, sources told The Post. The Italian fashion house — whose ambitions to expand have been hampered for years by a crippling debt load — is nearing a deal to sell about a third of the cash-strapped label to Richemont.”

Luxury retailers see shoppers fed up with ‘frugality fatigue’ spend (Telegraph)
“Fortnum & Mason, the luxury department store on London’s Piccadilly, saw like-for-like sales rise by over 10pc in the first three weeks of December, as the weak pound and “frugality fatigue” caused shoppers to splash out.”

U.K. Retailers Post Strong Holiday Results (WSJ)
“Next and John Lewis, a department store operator, are the first of the U.K.’s big retailers to report Christmas trading results, and the results point to a strong result for the sector as a whole. However, both warned that the outlook for 2010 is still tough.”

The public image: Louis Vuitton’s ‘Savoir-Faire’ campaign (FT)
“‘Heritage’ and ‘hand-crafted’ have become catchphrases for the luxury industry since the recession hit, as old names that had embraced fashion during the consumption bubble attempt to shore up their credentials as investment-worthy brands. No campaign has made the connection quite so obvious, however, as that of Louis Vuitton.”

Meet Mr. Gaga | The Stylist Nicola Formichetti (T Magazine)
“Whether or not you know him by name, you’ll recognize the stylist Nicola Formichetti by his aggressively modern looks (Lady Gaga’s metal orb, anyone?). When it comes to his personal style, Formichetti attributes his unrestricted creativity to his multicultural upbringing, which was shared between Italy and Japan.”

Johann Rupert, CEO Richemont Group | Source: Connectingwatches

Rupert ready to resume the helm at Richemont (FT)
“Johann Rupert said yesterday that he would retake the helm as chief executive of Richemont from April, indicating that the world’s second-largest luxury goods group still expected storms ahead.”

Style bloggers take centre stage (FT)
“Also on the front row… sits a slender, less familiar figure dressed in grey T-shirt, jewelled necklace and tuxedo jacket. Meet Bryan Grey-Yambao, known as Bryanboy to the 215,000 unique users who visit his eponymous blog each day (British Vogue magazine, by comparison, sells just over 200,000 copies a month.)”

Tom Ford’s new focus (The National)
“From his single-handed revitalisation of Gucci to his innovative approach to the aesthetics of cinema, Tom Ford is a man of many accomplishments. However, his greatest achievement may be a much more personal reinvention.”

One step ahead: Prada the world’s most influential fashion label (Independent)
“From simple nylon rucksacks to willfully challenging shoes, one label has always been at fashion’s cutting edge. And that’s to say nothing of the yachts, architecture, art patronage…”

Fashion forward (Business Standard)
“For Singh, fashion is a minuscule part of a larger, more dynamic, and meaningful, world of design. He says, ‘I want to do products that are the very best. I want to achieve quality that one can say is great.’”

Hugo by Hugo Boss Autumn/Winter 09 | Source: Hugo Boss

Hugo Boss European sales fall 13 percent (Drapers)
“Total European sales at Hugo Boss fell 13% to €852m (£766m) over the first nine months of 2009 as the brand and retailer was hit by a turbulent northern European and Spanish trading climate.”

M&S and Next fight back while Primark shines (Reuters)
“Updates from three of Britain’s biggest clothing retailers should shed a little more light next week on whether consumers are starting to spend more freely ahead of the key Christmas trading period.”

Lulu Guiness signs investor to fund Asian expansion (Drapers)
“Lulu Guiness has sold a 15% stake in the luxury handbags and accessories label to Hong Kong-based First Eastern Investment Group to further expansion in Asia.”

Prada shortens temporary layoffs as orders rise (Reuters)
“Italian fashion house Prada is shortening temporary suspensions for some workers by three weeks after orders for its spring/summer 2010 clothes exceeded expectations by 10 percent.”

The Fashion Fund (Vogue)
“Vogue and the British Fashion Council have launched a new £200,000 fund today to support Britain’s young design talent both financially and with expert business advice.”

Vogue editor Wintour critiques Letterman’s socks (AP)
“Wintour, making her first appearance on CBS’ “Late Show,” made light of her image as an imperious and tough boss, but acknowledged that she is direct with her staff. “Well, I’m very decisive and I try and give very clear direction to the people that I’m working with, and sometimes, unfortunately, they don’t hear the answer that they would like to hear,” Wintour said.”

Online sales soar during July (Drapers)
“Online sales surged to £4.2bn in July as shoppers showed signs of renewed confidence. According to the latest IMRG Capgemini e-Retail Sales Index, July recorded around 15.7% more online sales than June, a 16.8% year-on-year rise.”

Prada quashes speculation it is seeking a partner (Drapers)
“A spokesman for the Italian fashion house said “there are no talks with anyone” following speculation Prada’s banks were seeking a partner to take a 30% slice of the group.”

Where the streets have no shame (Salon.com)
“The Sartorialist blog is an ever-evolving pictorial essay on the distinction between personal style and mere fashion. The former is a living, breathing element; the rest is just clothes. At last a selection of Schuman’s best images have been collected in one place, a book called, simply enough, The Sartorialist.”