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	<title>BoF - The Business of Fashion &#187; Prada</title>
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	<link>http://www.businessoffashion.com</link>
	<description>The Business of Fashion is an essential daily resource for fashion creatives, business professionals and entrepreneurs in more than 200 countries around the world.</description>
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		<title>BoF Daily Digest &#124; Canada&#8217;s fashion wave, Ready-to-war, Italian optimism, Richemont sales rise, Prada star power</title>
		<link>http://www.businessoffashion.com/2012/01/bof-daily-digest-canadas-fashion-wave-ready-to-war-italian-optimism-richemont-sales-rise-prada-star-power.html</link>
		<comments>http://www.businessoffashion.com/2012/01/bof-daily-digest-canadas-fashion-wave-ready-to-war-italian-optimism-richemont-sales-rise-prada-star-power.html#comments</comments>
		<pubDate>Mon, 16 Jan 2012 16:00:37 +0000</pubDate>
		<dc:creator>BoF Team</dc:creator>
				<category><![CDATA[Daily Digest]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[Ermenegildo Zegna]]></category>
		<category><![CDATA[Prada]]></category>
		<category><![CDATA[Raffaele Caruso]]></category>
		<category><![CDATA[Richemont]]></category>

		<guid isPermaLink="false">http://www.businessoffashion.com/?p=28362</guid>
		<description><![CDATA[New wave of Canadian fashion brands is looking to build a worldwide presence (FT) &#8220;Canada has many assets – commodities, natural resources, space, poutines – but most people would not count fashion among them&#8230; Yes, the Canadians are coming. And no, it’s not all lumberjack shirts and ice hockey jerseys. Their arrival marks a sense of maturity [...]]]></description>
			<content:encoded><![CDATA[<div id="attachment_28377" class="wp-caption alignnone" style="width: 510px"><a href="http://www.businessoffashion.com/2012/01/bof-daily-digest-canadas-fashion-wave-ready-to-war-italian-optimism-richemont-sales-rise-prada-star-power.html"><img class="size-full wp-image-28377  " title="Joe Fresh Autumn Winter 2011 | Source Mens Models Talk" src="http://www.businessoffashion.com/wp-content/uploads/2012/01/Joe-Fresh-Autumn-Winter-2011-Source-Mens-Models-Talk.jpg" alt="" width="500" height="357" /></a><p class="wp-caption-text">Joe Fresh Autumn/Winter 2011 | Source: Mens Models Talk</p></div>
<p><a href="http://www.ft.com/cms/s/2/b18d3dc8-36fb-11e1-b741-00144feabdc0.html#axzz1jcC3Jt1q" target="_blank">New wave of Canadian fashion brands is looking to build a worldwide presence</a> <em>(FT)</em><br />
<em></em>&#8220;Canada has many assets – commodities, natural resources, space, poutines – but most people would not count fashion among them&#8230; Yes, the Canadians are coming. And no, it’s not all lumberjack shirts and ice hockey jerseys. Their arrival marks a sense of maturity for retailers on both sides of the border.&#8221;</p>
<p><a href="http://www.nytimes.com/2012/01/14/fashion/in-mens-wear-italian-is-premier-but-french-are-the-owners.html?_r=1" target="_blank">France and Italy: ‘Ready-to-War’?</a><em> (NY Times)</em><br />
&#8220;Against all the odds of the flailing euro, mountains of sovereign and personal debt and a general economic uneasiness, men’s wear is booming. As Ermenegildo Zegna opens the Milan winter 2012 men’s season on Saturday, the company has recorded a 14 percent increase in sales in 2011, pushing total revenues to €1.1 billion, or $1.4 billion.&#8221;</p>
<p><a href="http://www.businessweek.com/news/2012-01-16/italian-luxury-clothiers-say-euro-crisis-won-t-stop-2012-growth.html" target="_blank">Italian Luxury Clothiers Say Euro Crisis Won’t Stop 2012 Growth</a> <em>(Bloomberg)</em><br />
&#8220;Ermenegildo Zegna and Raffaele Caruso are among Italian luxury goods makers that say they are optimistic for 2012 even as Europe’s sovereign-debt crisis weighs on demand in the region and growth slows in Asia.&#8221;</p>
<p><a href="http://www.businessweek.com/news/2012-01-16/richemont-third-quarter-sales-rise-on-increased-asian-demand.html" target="_blank">Richemont Third-Quarter Sales Rise on Increased Asian Demand</a> <em>(Bloomberg)</em><br />
&#8220;Richemont, the world’s second-largest luxury-goods maker, reported 24 percent growth in third-quarter revenue, boosted by sales of Vacheron Constantin timepieces and Cartier jewelry in Asia. Revenue rose to 2.62 billion euros ($3.31 billion) in the three months through December from 2.12 billion euros a year earlier, the Geneva-based company said today in a statement.&#8221;</p>
<p><a href="http://www.nytimes.com/2012/01/16/fashion/16iht-rprada16.html?_r=2&amp;ref=fashion" target="_blank">Prada Displays Its Star Power</a> <em>(IHT)</em><br />
&#8220;It was a red carpet, and it had to be, given the stellar lineup on Prada’s runway Sunday: From Adrien Brody in a rich red coat to Gary Oldman in a spiffy black morning coat, and the rest of a star-studded cast&#8230; What the designer seemed to be saying, after her dynamic but simplistic racing car theme for her last women’s collection, was that if men like cars, they like power, with all the trappings of formal tailoring and linear coats even more.&#8221;</p>
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		<title>BoF Daily Digest &#124; Caution in China, Prada slump, Fashion week flare up, H&amp;M sales lag, Julia Restoin-Roitfeld</title>
		<link>http://www.businessoffashion.com/2011/12/bof-daily-digest-caution-in-china-prada-slump-fashion-week-flare-up-hm-sales-lag-julia-restoin-roitfeld.html</link>
		<comments>http://www.businessoffashion.com/2011/12/bof-daily-digest-caution-in-china-prada-slump-fashion-week-flare-up-hm-sales-lag-julia-restoin-roitfeld.html#comments</comments>
		<pubDate>Fri, 16 Dec 2011 16:32:27 +0000</pubDate>
		<dc:creator>BoF Team</dc:creator>
				<category><![CDATA[Daily Digest]]></category>
		<category><![CDATA[Chambre Syndicale]]></category>
		<category><![CDATA[H&M]]></category>
		<category><![CDATA[Julia Restoin-Roitfeld]]></category>
		<category><![CDATA[Prada]]></category>

		<guid isPermaLink="false">http://www.businessoffashion.com/?p=27687</guid>
		<description><![CDATA[Luxury brands turn cautious on China (FT)  &#8220;Watching three malls open within a square mile over the past year and a fourth preparing to follow, all with their share of luxury boutiques, Beijingers may think that soon their city will have as many Louis Vuitton and Salvatore Ferragamo stores as bank branches or McDonalds restaurants. But [...]]]></description>
			<content:encoded><![CDATA[<div id="attachment_27719" class="wp-caption alignnone" style="width: 510px"><a href="http://www.businessoffashion.com/2011/12/bof-daily-digest-caution-in-china-prada-slump-fashion-week-flare-up-hm-sales-lag-julia-restoin-roitfeld.html"><img class="size-full wp-image-27719         " src="http://www.businessoffashion.com/wp-content/uploads/2011/12/Salvatore-Ferragamo-China-Source-Moda-Online.jpg" alt="" width="500" height="363" /></a><p class="wp-caption-text">Salvatore Ferragamo store Huhehaote China | Source: Moda Online</p></div>
<p><a href="http://blogs.ft.com/beyond-brics/2011/12/15/luxury-brands-turn-cautious-on-china/#axzz1gavT6Rdx" target="_blank">Luxury brands turn cautious on China</a> <em>(FT) </em><br />
&#8220;Watching three malls open within a square mile over the past year and a fourth preparing to follow, all with their share of luxury boutiques, Beijingers may think that soon their city will have as many Louis Vuitton and Salvatore Ferragamo stores as bank branches or McDonalds restaurants. But things might be on the verge of changing.&#8221;</p>
<p><a href="http://www.businessweek.com/news/2011-12-16/prada-poised-to-extend-slump-as-china-shoppers-cut-back-retail.html" target="_blank">Prada Poised to Extend Slump as China Shoppers Cut Back</a> <em>(Bloomberg)</em><br />
&#8220;Prada is falling out of fashion six months into its Hong Kong trading debut as investors brace for Chinese shoppers to curb spending. Shares of the maker of $2,000 bags and Miu Miu shoes, which gets more than 42 percent of sales from Asia, have dropped 34 percent from its July peak.&#8221;</p>
<p><a href="http://nymag.com/daily/fashion/2011/12/paris-reignites-brouhaha-over-fashion-schedule.html?mid=twitter_TheCut" target="_blank">Paris Reignites Brouhaha Over Fashion Schedule</a> <em>(The Cut)</em><br />
&#8220;After Milan, London, and New York finally compromised on their respective Fashion Week dates for 2013 and 2014, France&#8217;s Chambre Syndicale — which has been relatively quiet on the matter until now — announced that they&#8217;re unhappy with the proposed arrangement.&#8221;</p>
<p><a href="http://www.reuters.com/article/2011/12/15/hm-sales-idUSS3E7MO00S20111215" target="_blank">H&amp;M Nov comparable sales lag consensus</a> <em>(Reuters)</em><br />
&#8220;Sweden&#8217;s Hennes &amp; Mauritz, the world&#8217;s second-biggest apparel retailer, posted on Thursday a one percent drop in local-currency turnover at established stores in November, missing a consensus forecast for a narrow rise.&#8221;</p>
<p><a href="http://www.nytimes.com/2011/12/15/fashion/carine-roitfelds-daughter-builds-her-own-empire.html?_r=1&amp;ref=fashion" target="_blank">Building an Empire of Her Own</a> <em>(NY Times)</em><br />
&#8220;It’s a distinctive pedigree, all right, lofty enough to have secured the younger Ms. Roitfeld a flurry of modeling gigs, invitations to the coolest parties and the fawning attention of scores of bloggers. But not lofty enough, evidently, for Ms. Roitfeld herself. &#8216;I want to be known as me,&#8217; she insisted the other evening&#8230; &#8216;I want to be known for what I can do on my own.&#8217;&#8221;</p>
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		<title>Market Pulse &#124; Strong Results Mask Market Jitters</title>
		<link>http://www.businessoffashion.com/2011/12/market-pulse-strong-results-mask-market-jitters.html</link>
		<comments>http://www.businessoffashion.com/2011/12/market-pulse-strong-results-mask-market-jitters.html#comments</comments>
		<pubDate>Mon, 05 Dec 2011 12:29:53 +0000</pubDate>
		<dc:creator>Pierre Mallevays</dc:creator>
				<category><![CDATA[Market Pulse]]></category>
		<category><![CDATA[Brioni]]></category>
		<category><![CDATA[Burberry]]></category>
		<category><![CDATA[Ferragamo]]></category>
		<category><![CDATA[Hermes]]></category>
		<category><![CDATA[Luxottica]]></category>
		<category><![CDATA[PPR]]></category>
		<category><![CDATA[Prada]]></category>
		<category><![CDATA[Richemont]]></category>
		<category><![CDATA[Tiffany]]></category>

		<guid isPermaLink="false">http://www.businessoffashion.com/?p=27155</guid>
		<description><![CDATA[LONDON, United Kingdom — As the luxury and fashion sector enters the critical holiday shopping period on the back of strong results for the first half of the year, there are growing signs that executives are worried about what the future holds for the luxury market in 2012. Big news • This has been another month [...]]]></description>
			<content:encoded><![CDATA[<p><strong> </strong></p>
<div id="attachment_27157" class="wp-caption alignnone" style="width: 510px"><strong><a rel="attachment wp-att-27157" href="http://www.businessoffashion.com/2011/12/market-pulse-strong-results-mask-market-jitters.html/savigny-luxury-index-november-2011-source-savigny-partners"><img class="size-full wp-image-27157 " title="Savigny Luxury Index November 2011 | Source: Savigny Partners" src="http://www.businessoffashion.com/wp-content/uploads/2011/12/Savigny-Luxury-Index-November-2011-Source-Savigny-Partners.jpg" alt="" width="500" height="346" /></a></strong><p class="wp-caption-text">Savigny Luxury Index November 2011 | Source: Savigny Partners</p></div>
<p><strong>LONDON, United Kingdom</strong> — As the luxury and fashion sector enters the critical holiday shopping period on the back of strong results for the first half of the year, there are growing signs that executives are worried about what the future holds for the luxury market in 2012.</p>
<p><strong>Big news</strong></p>
<p><strong> </strong>• This has been another      month of record results for the luxury sector, with Hermès, Richemont,      Ferragamo, Burberry, Tiffany, Prada and Ports all posting outstanding      numbers for their first half or third quarter period.  Buoyant growth in Asia continued to lift      sales; Richemont in particular shone with revenues in the region soaring      by 60 percent in its first half report.       Growth was also present in mature markets, notably in the USA where      Burberry’s first half sales and Tiffany’s third quarter revenues rose by      25 percent and 17 percent respectively.  This was      confirmed by recent news of a very strong Thanksgiving weekend, with US      retail sales estimated at a record $52.4 billion.</p>
<p>• Yet worries are growing      over 2012.  The global markets      rebound which took place towards the end of November following news of      concerted action to solve the eurozone debt crisis did not happen for the      luxury sector, with our Savigny Luxury Index resuming its downward      slide.  Some market participants      have issued thinly veiled warnings over next year, notably Richemont and      Tiffany (see below).  Retailers are      keeping inventories low into the end-of-year season; we have heard reports      of some of them asking leading fashion brands not to deliver too early, a      shocking role-reversal mode.       Industry CEOs are hoping for the best but quietly making contingency      plans.  Overall,      the SLI has lost 4.9 percent over the month of November, compared to an increase      of 1.8 percent in the MSCI general index.</p>
<p>• The long-rumoured      acquisition of Italian tailor Brioni by PPR finally crystallised, evidencing      the importance of the menswear segment for the sector’s growth      expectations, especially in China.</p>
<p><span id="more-27155"></span><strong>Going up</strong></p>
<p><strong> </strong>• Luxottica’s share price is the only one to have risen during November, attributable to recent M&amp;A activity.  The world’s leading eyewear group continues to expand geographically its successful vertical integration model to emerging markets, namely Latin America.</p>
<p><strong>Going down</strong></p>
<p><strong> </strong>• Tiffany’s candid statement that trading was starting to be difficult in Europe and on the East Coast in the US caused its share price to tumble, taking US luxury peer Ralph Lauren down with it.</p>
<p>• At nearly 12 percent down, Ferragamo’s share price performance for the month ranks near the bottom of the sector, despite strong third quarter results and sales momentum.  Investors’ concerns seem to centre around the Italian’s group relative lack of scale compared to most of its peers and on Ferragamo’s already large Chinese presence, potentially signalling a lesser upside.</p>
<p><strong>What to watch</strong></p>
<p><strong> </strong>• Investors are hanging on to every piece of news in anticipation of the Christmas results. Sector outlook has rarely been so uncertain.</p>
<p><strong>Sector Valuation</strong></p>
<p><a rel="attachment wp-att-27160" href="http://www.businessoffashion.com/2011/12/market-pulse-strong-results-mask-market-jitters.html/mp2"><img class="alignnone size-full wp-image-27160" title="MP2 November 2011" src="http://www.businessoffashion.com/wp-content/uploads/2011/12/MP2.jpg" alt="" width="500" height="397" /></a></p>
<p><em>Pierre Mallevays is a contributing editor at The Business of Fashion and founder and managing partner of <a href="http://www.savignypartners.com/" target="_blank">Savigny Partners</a>, a corporate advisory firm focusing on the retail and luxury goods industry</em></p>
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		<title>BoF Daily Digest &#124; Michael Kors IPO, Gucci sales hold firm, Tailoring to Asia, Frisoni thrives at Vivier, All that glitters</title>
		<link>http://www.businessoffashion.com/2011/12/bof-daily-digest-michael-kors-ipo-gucci-sales-hold-firm-tailoring-to-asia-frissoni-thrives-at-vivier-all-that-glitters.html</link>
		<comments>http://www.businessoffashion.com/2011/12/bof-daily-digest-michael-kors-ipo-gucci-sales-hold-firm-tailoring-to-asia-frissoni-thrives-at-vivier-all-that-glitters.html#comments</comments>
		<pubDate>Mon, 05 Dec 2011 11:11:52 +0000</pubDate>
		<dc:creator>BoF Team</dc:creator>
				<category><![CDATA[Daily Digest]]></category>
		<category><![CDATA[Bruno Frisoni]]></category>
		<category><![CDATA[Coolhunting]]></category>
		<category><![CDATA[Gucci]]></category>
		<category><![CDATA[Michael Kors]]></category>
		<category><![CDATA[Prada]]></category>
		<category><![CDATA[Roger Vivier]]></category>

		<guid isPermaLink="false">http://www.businessoffashion.com/?p=27142</guid>
		<description><![CDATA[Michael Kors Seeks to Raise $792.3 Million in U.S. IPO (Bloomberg) &#8220;Michael Kors Holdings Ltd., the luxury-clothing company, is seeking to raise as much as $792.3 million in a U.S. initial public offering as the company’s founder and the biggest investor trim their stakes&#8230; Michael Kors, the designer who founded the company in 1981, is [...]]]></description>
			<content:encoded><![CDATA[<div id="attachment_27148" class="wp-caption alignnone" style="width: 510px"><a href="http://www.businessoffashion.com/2011/12/bof-daily-digest-michael-kors-ipo-gucci-sales-hold-firm-tailoring-to-asia-frissoni-thrives-at-vivier-all-that-glitters.html/michael-kors-source-life" rel="attachment wp-att-27148"><img class="size-full wp-image-27148 " title="Michael Kors | Source: Life" src="http://www.businessoffashion.com/wp-content/uploads/2011/12/Michael-Kors-Source-Life.jpg" alt="" width="500" height="355" /></a><p class="wp-caption-text">Michael Kors | Source: Life</p></div>
<p><a href="http://www.bloomberg.com/news/2011-12-02/michael-kors-seeks-to-raise-792-3-million-in-u-s-ipo-of-fashion-designer.html" target="_blank">Michael Kors Seeks to Raise $792.3 Million in U.S. IPO</a> <em>(Bloomberg)</em><br />
&#8220;Michael Kors Holdings Ltd., the luxury-clothing company, is seeking to raise as much as $792.3 million in a U.S. initial public offering as the company’s founder and the biggest investor trim their stakes&#8230; Michael Kors, the designer who founded the company in 1981, is planning to cut his stake as retailers of luxury goods outperform mid-priced department stores and discounters this year.&#8221;</p>
<p><a href="http://www.reuters.com/article/2011/12/02/gucci-idUSL5E7N206X20111202" target="_blank">Gucci sales not slowing yet, has plan B ready</a> <em>(Reuters)</em><br />
&#8220;Luxury brand Gucci has not seen any impact on its business from global economic woes but it would be prepared to react quickly and cut costs if sales slowed, its chief executive said in a newspaper interview. Patrizio di Marco told Le Figaro that Gucci, part of French luxury and retail group PPR, had a &#8216;Plan B&#8217; that could see it delaying store improvement work while sticking to its store opening programme.&#8221;</p>
<p><a href="http://www.latimes.com/business/la-fi-fashion-asians-20111205,0,7895354.story" target="_blank">U.S. retailers tailor fashions to Asian tastes</a> <em>(LA Times)</em><br />
&#8220;As the U.S. market continues to sputter and China&#8217;s continues to boom, U.S. retailers are updating business plans to include the world&#8217;s second-largest economy as well as the rest of growing Asia. Just as Louis Vuitton, Gucci and Apple have erected temples of capitalism in cities such as Shanghai and Beijing, Western apparel makers are infusing their clothing lines with Asian sensibilities in look, feel and size.&#8221;</p>
<p><a href="http://online.wsj.com/article/SB10001424052970204449804577068873841262312.html?mod=WSJ_Magazine_LEFTSecondStories" target="_blank">Future Classic</a> <em>(WSJ)</em><br />
&#8220;At the house of Roger Vivier, the buckle reigns supreme&#8230; The buckle, which has adorned Vivier shoes and handbags for more than four decades, is a signature that you recognize without realizing that you have&#8230; But Bruno Frisoni, the dashing, bespectacled and asparagus-slim Frenchman who is artistic director of the label, has quietly been masterminding another house signature: the Prismick.&#8221;</p>
<p><a href="http://www.ft.com/cms/s/2/beef0ef6-1455-11e1-85c7-00144feabdc0.html#axzz1fegRYxk4" target="_blank">A glint in his tie</a> <em>(FT)</em><br />
&#8220;&#8216;Clothes maketh the man,&#8217; goes the cliché: but what exactly do they maketh of him? What, for example, to make of the landslide of lads in spangly sweaters at the autumn/winter Prada show?&#8230; For many men the latter might seem the most likely answer, except for the fact that those metallic sweaters are currently hitting shop floors and selling out.&#8221;</p>
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		<title>BoF Daily Digest &#124; Dior by Demarchelier, Prada profits surge, Tiffany sales slow, Patricia Field&#8217;s way, Sean McGirr rising</title>
		<link>http://www.businessoffashion.com/2011/11/bof-daily-digest-dior-by-demarchelier-prada-profits-surge-tiffany-sales-slow-patricia-fields-way-sean-mcgirr.html</link>
		<comments>http://www.businessoffashion.com/2011/11/bof-daily-digest-dior-by-demarchelier-prada-profits-surge-tiffany-sales-slow-patricia-fields-way-sean-mcgirr.html#comments</comments>
		<pubDate>Wed, 30 Nov 2011 10:29:21 +0000</pubDate>
		<dc:creator>BoF Team</dc:creator>
				<category><![CDATA[Daily Digest]]></category>
		<category><![CDATA[Dior]]></category>
		<category><![CDATA[Patricia Field]]></category>
		<category><![CDATA[Patrick Demarchelier]]></category>
		<category><![CDATA[Prada]]></category>
		<category><![CDATA[Sean McGirr]]></category>
		<category><![CDATA[Tiffany]]></category>

		<guid isPermaLink="false">http://www.businessoffashion.com/?p=27044</guid>
		<description><![CDATA[Opening the Doors of Dior (NY Times) &#8220;Saint Laurent, Chanel, Dior: the names of the most famous Paris houses sort of dance off the tongue. Their histories defeat the idea that younger generations might be bored with old things. And a stream of books and films helps to assure that they won’t be. “Dior Couture” [...]]]></description>
			<content:encoded><![CDATA[<div id="attachment_27055" class="wp-caption alignnone" style="width: 510px"><a rel="attachment wp-att-27055" href="http://www.businessoffashion.com/2011/11/bof-daily-digest-dior-by-demarchelier-prada-profits-surge-tiffany-sales-slow-patricia-fields-way-sean-mcgirr.html/dior-couture-by-patrick-demarchelier-source-mamas-rolling-stone"><img class="size-full wp-image-27055 " title="Dior Couture by Patrick Demarchelier | Source: Mama's Rolling Stone" src="http://www.businessoffashion.com/wp-content/uploads/2011/11/Dior-Couture-by-Patrick-Demarchelier-Source-Mamas-Rolling-Stone.jpg" alt="" width="500" height="333" /></a><p class="wp-caption-text">Dior Couture by Patrick Demarchelier | Source: Mama&#39;s Rolling Stone</p></div>
<p><a href="http://www.nytimes.com/2011/12/01/fashion/with-dior-couture-patrick-demarchelier-opens-the-houses-doors.html?ref=fashion" target="_blank">Opening the Doors of Dior</a> <em>(NY Times)</em><br />
&#8220;Saint Laurent, Chanel, Dior: the names of the most famous Paris houses sort of dance off the tongue. Their histories defeat the idea that younger generations might be bored with old things. And a stream of books and films helps to assure that they won’t be. “Dior Couture” (Rizzoli), by the photographer Patrick Demarchelier, is far and away the most gorgeous book on the house&#8230;What Mr. Demarchelier offers is a personal view of fashion from a great Paris house.&#8221;</p>
<p><a href="http://www.bbc.co.uk/news/business-15956404" target="_blank">Prada profit surges 75% in third quarter on Asia sales </a><em>(BBC News)</em><br />
&#8220;Profits at Italian fashion house Prada soared in the third quarter boosted by increased sales in the Asia-Pacific region. Prada said it made a net profit of 273m euros ($364m; £234m) in the three months to the end of October, a 75% jump from year earlier.&#8221;</p>
<p><a href="http://www.reuters.com/article/2011/11/29/us-tiffany-idUSTRE7AS0TL20111129" target="_blank">Tiffany sales growth shows signs of slowing</a> <em>(Reuters)</em><br />
&#8220;Concerns about slowing sales momentum took some of the luster off Tiffany &amp; Co&#8217;s stock amid signs that European and U.S. economic distress are weighing on luxury consumers, and shares fell 9 percent. The upscale jeweler, a stock market darling for how fast its international business has grown, reported third-quarter.&#8221;</p>
<p><a href="http://www.wwd.com/footwear-news/people/hall-of-fame-patricia-field-5390935" target="_blank">Hall of Fame: Patricia Field</a><em> (WWD)</em><br />
&#8220;Patricia Field has always done things her way. With a career spanning 45 years and counting, the designer, stylist and boutique owner built her reputation by creating her own blueprint. &#8216;If you asked me who I looked up to from the beginning of my career, I would say no one,&#8217; Field said. &#8216;I didn’t see fashion that way. I felt fashion.&#8217;&#8221;</p>
<p><a href="http://www.dazeddigital.com/fashion/article/11894/1/rise-sean-mcgirr" target="_blank">Rise: Sean McGirr</a> <em>(Dazed Digital)</em><br />
&#8220;It’s no coincidence that Candy Nippon in Tokyo and Immense in Taipei – two of Japan’s most closely watched boutiques – have Sean McGirr’s A/W 2011 collection hanging from the clothes hangers. Titled ‘The Adolescent Years’, it draws from the Oriental kimono silhouette and shares a sensibility with Japanese fashion that gives it an uncanny autonomy.&#8221;</p>
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		<title>Fashion 2.0 &#124; Top 10 Fashion Films of the Season</title>
		<link>http://www.businessoffashion.com/2011/10/fashion-2-0-top-10-fashion-films-of-the-season-5.html</link>
		<comments>http://www.businessoffashion.com/2011/10/fashion-2-0-top-10-fashion-films-of-the-season-5.html#comments</comments>
		<pubDate>Sun, 23 Oct 2011 18:27:33 +0000</pubDate>
		<dc:creator>BoF Team</dc:creator>
				<category><![CDATA[Fashion 2.0]]></category>
		<category><![CDATA[Features]]></category>
		<category><![CDATA[Alister Mackie]]></category>
		<category><![CDATA[Another Magazine]]></category>
		<category><![CDATA[Lanvin]]></category>
		<category><![CDATA[Miu Miu]]></category>
		<category><![CDATA[Nick Knight]]></category>
		<category><![CDATA[NOWNESS]]></category>
		<category><![CDATA[Olympisa Le-Tan]]></category>
		<category><![CDATA[Prabal Gurung]]></category>
		<category><![CDATA[Prada]]></category>
		<category><![CDATA[Rachel Weisz]]></category>
		<category><![CDATA[Spike Jonze]]></category>

		<guid isPermaLink="false">http://www.businessoffashion.com/?p=26192</guid>
		<description><![CDATA[Lanvin Spoof Video &#124; Source: NEW YORK, United States — At BoF, we’ve been ranking the top fashion films of the season since 2009, when the genre was still just coming into existence. But even back then, set against the staggering rise of online video consumption and the growing importance of engaging young digital consumers, the [...]]]></description>
			<content:encoded><![CDATA[<p><iframe src="http://player.vimeo.com/video/29112896" width="500" height="281" frameborder="0" webkitAllowFullScreen allowFullScreen></iframe></p>
<p style="text-align: center;"><em>Lanvin Spoof Video | Source: </em></p>
<p><strong>NEW YORK, United States —</strong> At <em>BoF</em>, we’ve been ranking the top fashion films of the season since 2009, when the genre was still just coming into existence. But even back then, set against the staggering rise of online video consumption and the growing importance of engaging young digital consumers, the medium’s tremendous potential was clear.</p>
<p>Fast-forward to the Autumn of 2011 and YouTube-friendly short videos are practically <em>de rigueur</em> for fashion brands, large and small. But interestingly, it’s not digital &#8220;Geniuses&#8221; like Burberry who have been creating the most compelling fashion films. Despite being labeled “Challenged” by a <a href="http://www.businessoffashion.com/2011/10/fashion-2-0-l2-study-reveals-shortfalls-in-digital-competence.html">Digital IQ report</a> recently released by LuxuryLab, we think the Prada Group is making some of the best digital films in the industry, working with top fashion image-maker Steven Meisel.</p>
<p>But this season, it was Lanvin’s viral sensation (also shot by Meisel), featuring Karen Elson and Raquel Zimmermann dancing awkwardly to “I Know You Want Me (Calle Ocho)” by Pitbull, that proved to be the game-changer that propelled fashion film decisively into the mainstream. The film struck a chord with a broad internet audience, earning over 100,000 YouTube views in the first three days online, providing the spark for a real-life dance competition at a buzzed about and well-attended Fashion’s Night Out event at the brand’s Madison Avenue boutique, and even spawning <a href="http://vimeo.com/29112896" target="_blank">spoofs</a>, the surest sign of of viral success.</p>
<p>Notably, it was stills from the Lanvin video that appeared in print advertising, flipping a well-established paradigm and highlighting fashion film’s trajectory towards the very centre of seasonal marketing initiatives.</p>
<p>And while we continued to see some absolutely stunning examples of films that look and feel like print campaigns or magazine editorial beautifully brought to life, it’s ‘digital first’ fashion videos, conceived from first principles with the online medium in mind, that broke the mold with humour, quirky charm or unconventional visual techniques which seemed to resonate most with online audiences.</p>
<p>What follows is <em>BoF</em>’s selection of the most powerful and interesting fashion films of the 2012 Spring-Summer season. As you sit back and enjoy the videos, let us know which ones you like best.</p>
<p><span id="more-26192"></span><strong>1. Lanvin Fall/Winter 2011 Ad Campaign</strong></p>
<p><object width="500" height="281"><param name="movie" value="http://www.youtube.com/v/cwwcnUBY9Zg?version=3&#038;feature=oembed"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/cwwcnUBY9Zg?version=3&#038;feature=oembed" type="application/x-shockwave-flash" width="500" height="281" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<p>Dubbed “Park Avenue YouTube,” Lanvin’s tongue-in-cheek, fall campaign video — featuring top models Raquel Zimmermann and Karen Elson dancing uncomfortably in a chic apartment to Pitbull’s 2009 smash hit “I Know You Want Me (Calle Ocho)” and a hilarious cameo by creative director Alber Elbaz — had just the right elements to drive explosive word of mouth amongst fashion fans across the internet, while perfectly communicating the distinctive personality of the Lanvin brand. Shattering the seriousness that has often prevented fashion film from resonating with a broader audience, the Steven Meisel-shot video has already earned almost a million cumulative views on YouTube, been shared hundreds of thousands of times on Facebook, and inspired a spoof <a href="http://vimeo.com/29112896">remix</a> “starring the attendees of Fashion Week in New York” as well as a popular fan made <a href="http://www.youtube.com/watch?v=aR_nNV4L1G8">imitation video</a>.</p>
<p><strong>2. Prada Fall/Winter 2011 Ad Campaign</strong></p>
<p><object width="500" height="281"><param name="movie" value="http://www.youtube.com/v/z_3SDmz0Atw?version=3&#038;feature=oembed"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/z_3SDmz0Atw?version=3&#038;feature=oembed" type="application/x-shockwave-flash" width="500" height="281" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<p>Following on their <a href="http://www.businessoffashion.com/2011/04/fashion-2-0-top-10-fashion-films-of-the-season-4.html#more-21091">first place ranking last season</a>, Prada’s fall womenswear video, shot by Steven Meisel and featuring Antonia Wesseloh, Ondria Hardin, Kelly Mittendorf, Julia Zimmer and Frida Gustavsson, perfectly captures and communicates the delicate co-mingling of sensuality and innocence at the heart of Mrs. Prada’s collection. Set to a hypnotic soundtrack with a breathy voiceover, the slow motion film is also a seductive and transfixing digital merchandising dream, full of sequins, fur and snakeskin. We only wish it was directly shopable.</p>
<p><strong>3. Mourir Aupres De Toi by Spike Jonze &amp; Olympia Le-Tan</strong></p>
<p><iframe src="http://player.vimeo.com/video/30704658" width="500" height="281" frameborder="0" webkitAllowFullScreen allowFullScreen></iframe></p>
<p>Set after-hours on the shelves of famous Left Bank bookstore Shakespeare &amp; Company, Spike Jonze’s quirky stop-motion animation “Mourir Aupres De Toi” brings to life the embroidered ‘covers’ of Olympia Le-Tan’s book-clutch bags to tell the touching story of a clumsy skeleton and his lover. Using over three thousand pieces of hand-cut felt, the film beautifully communicates the handmade aesthetic and human charm of Le-Tan’s work. “I love getting performances from, telling stories about and humanizing things that aren’t human,” Jonze told <em>Nowness</em>, where the film first appeared.</p>
<p><strong>4. “Dynamic Blooms” by Nick Knight &amp; Alister Mackie</strong></p>
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<p>Recently released by experimental filmmakers Tell No One in collaboration with SHOWstudio, this succinct, visually stunning film brings to life Nick Knight and Alister Mackie’s breathtaking editorial for last season’s <em>AnOther Magazine</em>. Featuring Benjamin Warbis and Jac Jagaciak, the video collides dance and fashion, transforming pieces by Lanvin, Versace, Chloe, Valentino, Christian Dior Haute Couture, Jil Sander and Haider Ackermann into dynamic contemporary blossoms that explode across the screen.</p>
<p><strong>5. Prabal Gurung Resort 2012 – “New Thing” feat. Rye Rye</strong></p>
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<p>For the launch of his first ever foray into resort, inspired by Japanese artist Yayoi Kusama and the portraits of George Condo, rising designer Prabal Gurung teamed up with booty-shaking Baltimore artist Rye Rye to create a viral music video as bold and energetic as the graphic black and white theme, 60s-inspired florals, polka-dots, and pops of pinks, yellows and greens that run through the collection. Directed by Kenneth Cappello, the video deploys a dynamic high-low mix to explosive effect and underscores the power of integrating fashion, film and music to earn the attention of what Gurung has called “the YouTube generation.”</p>
<p><strong>6. AnOther Magazine Issue 21 featuring Rachel Weisz</strong></p>
<p><iframe src="http://player.vimeo.com/video/30544510" width="500" height="281" frameborder="0" webkitAllowFullScreen allowFullScreen></iframe></p>
<p>Shot by Craig McDean with creative direction by David James and styling by Olivier Rizzo, this off-kilter film features Rachel Weisz, cover star of this season’s <em>AnOther Magazine</em>, in a series of non-narrative micro-performances, inspired by German modern dance legend Pina Bausch. While magazines have long used online videos as supplementary material to support their print content, this film is a compelling example of ‘digital first’ editorial: the images that appear in print are stills taken from this surreal film.</p>
<p><strong>7. Love F/W 2011 What Lies Beneath by Mert Alas &amp; Marcus Piggott</strong></p>
<p><object width="500" height="281"><param name="movie" value="http://www.youtube.com/v/nIK_sQODYEU?version=3&#038;feature=oembed"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/nIK_sQODYEU?version=3&#038;feature=oembed" type="application/x-shockwave-flash" width="500" height="281" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<p>Accompanying “What Lies Beneath,” an epic 46-page, Jeff Bark-inspired fashion story shot by Mert Alas and Marcus Piggott for Katie Grand’s <em>Love</em> magazine, this disturbing but compelling film collides romantic elements with a hard-edged and dangerous undercurrent. Complete with white swans, bondage gear and submerged cars, this sexually-charged and transfixing film unfolds like a classical myth reimagined for a disjointed, nightworld where Lara Stone, Mariacarla Boscono, Saskia De Brauw, Kristen McMenamy, Paul Boche, Anais Pouliot, Jed Texas, Guinevere Van Seenus, Xiao Wen Ju and Angus Whitehead play dark contemporary demigods and water nymphs.</p>
<p><strong>8. Gareth Pugh S/S 2012 by Ruth Hogben</strong></p>
<p><object width="500" height="281"><param name="movie" value="http://www.youtube.com/v/bRmhintLBUg?version=3&#038;feature=oembed"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/bRmhintLBUg?version=3&#038;feature=oembed" type="application/x-shockwave-flash" width="500" height="281" allowscriptaccess="always" allowfullscreen="true"></embed></object></p>
<p>This season, East London’s <em>enfant terrible</em> Gareth Pugh teamed up with Ruth Hogben to create a dark and punchy film that was screened at the designer’s Paris catwalk show, as well as on Nick Knight’s fashion website SHOWstudio. Integrated into the runway event, the film both set the tone at the beginning of the show and provided a digital backdrop to the models on the catwalk, turning the presentation of Pugh’s collection into a multimedia viewing experience for the assembled press, buyers and industry insiders.</p>
<p><strong>9. Twin Parallel by Justin Anderson</strong></p>
<p><iframe src="http://player.vimeo.com/video/28003257" width="500" height="281" frameborder="0" webkitAllowFullScreen allowFullScreen></iframe></p>
<p>Directed by Justin Anderson for London-based designer Jayne Pierson and inspired by the <a href="http://en.wikipedia.org/wiki/Twin_paradox">twin paradox</a> in physics, this beautiful film won this season’s ‘Best Styling’ prize at Diane Pernet’s A Shaded View on Fashion Film festival, which took place during Paris Fashion Week at the Centre Pompidou. The film’s immaculately styled, still life tableaux, featuring fruit, candles, a cuckoo clock and a goose that presumably lays gold, sharpen the eye and draw attention to the royal details of Pierson’s collection.</p>
<p><strong>10. Kenzonique by Kenzo</strong></p>
<p><iframe src="http://player.vimeo.com/video/29827328" width="500" height="281" frameborder="0" webkitAllowFullScreen allowFullScreen></iframe></p>
<p>This snappy and upbeat trailer for the relaunch of Kenzo, directed by Jo Ratcliffe with music by Rob Coudert, perfectly teased the energy of the brand’s first presentation under new creative directors Humberto Leon and Carol Lim of Opening Ceremony. Dubbed “hyperdelic” on YouTube, the video’s vibrant colour palette and fun feel were totally in tune with the new collection and clearly communicated the brand’s repositioning as a playful creative force at the top end of the contemporary market.</p>
<p><em>What were your favourite fashion films this season?</em></p>
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		<title>BoF Daily Digest &#124; In Manolo&#8217;s shoes, Prada&#8217;s great expectations, No logo, China leads luxury spending, Steve Jobs: Fashion inspiration</title>
		<link>http://www.businessoffashion.com/2011/10/bof-daily-digest-in-manolos-shoes-pradas-great-expectations-no-logo-china-leads-luxury-spending-steve-jobs-fashion-inspiration.html</link>
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		<pubDate>Mon, 17 Oct 2011 11:57:55 +0000</pubDate>
		<dc:creator>BoF Team</dc:creator>
				<category><![CDATA[Daily Digest]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[Manolo Blahnik]]></category>
		<category><![CDATA[Prada]]></category>
		<category><![CDATA[Steve Jobs]]></category>

		<guid isPermaLink="false">http://www.businessoffashion.com/?p=26041</guid>
		<description><![CDATA[In His Shoes (NY Times) &#8220;This is the tale of the little stiletto that could, a shoe that in the long-ago days of the luxury-goods boom scampered to the top of a rarefied heap. It was just a handful of years ago that the name of Manolo Blahnik, a 68-year-old London cobbler born in the [...]]]></description>
			<content:encoded><![CDATA[<div id="attachment_26046" class="wp-caption alignnone" style="width: 510px"><a href="http://www.businessoffashion.com/2011/10/bof-daily-digest-in-manolos-shoes-pradas-great-expectations-no-logo-china-leads-luxury-spending-steve-jobs-fashion-inspiration.html"><img class="size-full wp-image-26046 " title="Manolo Blahnik | Source: Briseis" src="http://www.businessoffashion.com/wp-content/uploads/2011/10/Manolo-Blahnik-Source-Briseis.jpeg" alt="" width="500" height="334" /></a><p class="wp-caption-text">Manolo Blahnik | Source: Briseis</p></div>
<p><a href="http://www.nytimes.com/2011/10/16/fashion/manolo-blahnik-shoes-regain-it-status-in-fashion-world.html?_r=1&amp;ref=fashion" target="_blank">In His Shoes</a> <em>(NY Times)</em><br />
&#8220;This is the tale of the little stiletto that could, a shoe that in the long-ago days of the luxury-goods boom scampered to the top of a rarefied heap. It was just a handful of years ago that the name of Manolo Blahnik, a 68-year-old London cobbler born in the Canary Islands, was familiar only to hard-core fashion hunters and residents of ZIP code 10021.&#8221;</p>
<p><a href="http://www.reuters.com/article/2011/10/17/prada-outlook-idUSL3E7LH08H20111017" target="_blank">Prada forecasts China sales to triple in 2-3 years</a> <em>(Reuters)</em><br />
<em>&#8220;</em>Italian fashion house Prada sees strong growth in China, with sales expected to triple in coming years&#8230; The luxury market would not closely track economic weakness, and Prada was optimistic over growth in Asia particularly in China, where sales are expected to double or even triple in the next two to three years, Deputy Chairman Carlo Mazzi told reporters.&#8221;</p>
<p><a href="http://www.ft.com/cms/s/2/8afe8c12-f401-11e0-b221-00144feab49a.html#axzz1b1ayoDxx" target="_blank">No logo</a> <em>(FT)</em><br />
&#8220;The appeal of living large hasn’t disappeared but it seems the logos associated with lavish lifestyles have. When it comes to statement accessories, brands as diverse as Victoria Beckham and Céline are whispering their exclusivity amid a growing consensus that &#8216;anonymity&#8217; is the key to being recognised.&#8221;</p>
<p><a href="http://www.forbes.com/sites/anthonydemarco/2011/10/14/china-leads-world-in-luxury-spending/" target="_blank">China Leads World in Luxury Spending</a> <em>(Forbes)</em><br />
&#8220;Affluent consumers in the U.S. and much of the world are pulling back on their spending and attitude toward luxury. However, in China, affluent consumers are choosing luxury in every aspect of the lives, according to a seven-country survey of households earning at least $150,000.&#8221;</p>
<p><a href="http://www.ft.com/cms/s/2/b36c6690-f336-11e0-8383-00144feab49a.html#axzz1b1ayoDxx" target="_blank">Steve Jobs: fashion inspiration</a> <em>(FT)</em><br />
&#8220;&#8230;By &#8216;fashion&#8217; I mean the industry at large. It owes an entire product category – and possibly more, possibly the whole concept of brand extension – to Jobs. Without him, would it have ever occurred to anyone that technology could be an aspirational accessory that would itself spawn more aspirational accessories that could be changed season to season, niche collection to niche collection, ad infinitum?&#8221;</p>
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		<title>Fashion 2.0 &#124; L2 Study Reveals Shortfalls in Digital Competence</title>
		<link>http://www.businessoffashion.com/2011/10/fashion-2-0-l2-study-reveals-shortfalls-in-digital-competence.html</link>
		<comments>http://www.businessoffashion.com/2011/10/fashion-2-0-l2-study-reveals-shortfalls-in-digital-competence.html#comments</comments>
		<pubDate>Tue, 11 Oct 2011 18:51:49 +0000</pubDate>
		<dc:creator>Vikram Alexei Kansara</dc:creator>
				<category><![CDATA[Fashion 2.0]]></category>
		<category><![CDATA[Insight & Analysis]]></category>
		<category><![CDATA[Digital IQ Index]]></category>
		<category><![CDATA[Hermes]]></category>
		<category><![CDATA[LuxuryLab]]></category>
		<category><![CDATA[Prada]]></category>
		<category><![CDATA[Scott Galloway]]></category>

		<guid isPermaLink="false">http://www.businessoffashion.com/?p=25906</guid>
		<description><![CDATA[NEW YORK, United States — On Monday, Professor Scott Galloway’s NYU-based thinktank LuxuryLab, or L2, released advance copies of their third annual “Digital IQ” report, assessing the digital competence of 49 global fashion and leather goods firms, to a small number of media outlets, including BoF. According to the study, which will be published later [...]]]></description>
			<content:encoded><![CDATA[<p><strong> </strong></p>
<div id="attachment_25925" class="wp-caption alignnone" style="width: 510px"><a href="http://www.businessoffashion.com/2011/10/fashion-2-0-l2-study-reveals-shortfalls-in-digital-competence.html"><img class="size-medium wp-image-25925 " title="Digital IQ Index 2011, Greatest Year-Over-Year Gain or Loss, 2010 vs. 2011 Digital IQ Percentile Rank | Source: L2" src="http://www.businessoffashion.com/wp-content/uploads/2011/10/Digital-IQ-Index-2011-Greatest-Year-Over-Year-Gain-or-Loss-2010-vs.-2011-Digital-IQ-Percentile-Rank-500x319.jpg" alt="" width="500" height="319" /></a><p class="wp-caption-text">Digital IQ Index 2011, Greatest Year-Over-Year Gain or Loss, 2010 vs. 2011 Digital IQ Percentile Rank | Source: L2</p></div>
<p><strong>NEW YORK, United States —</strong> On Monday, Professor Scott Galloway’s NYU-based thinktank <a href="http://bit.ly/L2FashionIndexBoF">LuxuryLab</a>, or L2, released advance copies of their third annual “Digital IQ” report, assessing the digital competence of 49 global fashion and leather goods firms, to a small number of media outlets, including <em>BoF</em>.</p>
<p>According to the study, which will be <a href="http://bit.ly/L2FashionIndexBoF" target="_blank">published</a> later today, fashion brands are embracing digital innovation with enthusiasm and have been amongst the first to pilot forward-thinking marketing initiatives on platforms like Foursquare, Tumblr and the fashion flock’s current obsession, photo-sharing app Instagram. “Some programs could best be described as bleeding edge,” says the study, referring to Ralph Lauren’s <a href="http://www.businessoffashion.com/2010/11/digital-scorecard-ralph-lauren-4d-projection-mapping.html" target="_blank">experimentation with ‘4D’ projection mapping technology</a>.</p>
<p>But a closer reading reveals that a majority of fashion companies — in a sector which trades on being perfectly contemporary and thinks in terms of trend cycles — still regard the rise of digital media as a trend to be exploited, first and foremost, for its PR and image value.</p>
<p><span id="more-25906"></span></p>
<p>“Brands are seeking the halo of innovation that comes from inspired  online programming,” says the study. “However, most fashion brands still  approach digital as a series of pet projects rather than presenting a  coherent multi-platform strategy.”</p>
<p>While digital darling Burberry claimed first place in the rankings, more revealing was the poor performance of top brands like Hermès and Prada which have failed to keep pace with innovation, falling from “Gifted” in 2009 to “Challenged” in 2011. “Hubris has infected them with complacency online,” says the study, noting that Prada still doesn’t maintain any official presence on social media, including Facebook, where a &#8220;rogue page&#8221; maintained by a Prada brand loyalist has attracted more than 800,000 fans.</p>
<p>Interestingly, the report also reveals that the European conglomerates which own many of the world’s top fashion houses appear to be doing little to facilitate knowledge sharing amongst their brands, evidenced by wildly uneven digital competence scores within the major groups. At LVMH, for example, Louis Vuitton is ranked “Gifted,” while Givenchy came in 48th place amongst the 49 brands included in the study. At PPR, Gucci is ranked “Genius” while Balenciaga, one of the industry’s most forward-thinking brands in terms of design, remains “Challenged” when it comes to digital.</p>
<p><em>Download the full Digital IQ Index <a href="http://bit.ly/L2FashionIndexBoF" target="_blank">here</a></em></p>
<p><em>Vikram Alexei Kansara is Managing Editor of The Business of Fashion</em></p>
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		<title>Market Pulse &#124; Fears Over China Trigger Luxury Sell-Off</title>
		<link>http://www.businessoffashion.com/2011/10/market-pulse-fears-over-china-trigger-luxury-sell-off.html</link>
		<comments>http://www.businessoffashion.com/2011/10/market-pulse-fears-over-china-trigger-luxury-sell-off.html#comments</comments>
		<pubDate>Tue, 04 Oct 2011 13:19:44 +0000</pubDate>
		<dc:creator>Pierre Mallevays</dc:creator>
				<category><![CDATA[Features]]></category>
		<category><![CDATA[Market Pulse]]></category>
		<category><![CDATA[Brioni]]></category>
		<category><![CDATA[Delvaux]]></category>
		<category><![CDATA[Prada]]></category>
		<category><![CDATA[Ralph Lauren]]></category>

		<guid isPermaLink="false">http://www.businessoffashion.com/?p=25728</guid>
		<description><![CDATA[LONDON, United Kingdom — The seemingly unflappable luxury market continues to waver, with growing worries that China&#8217;s booming economy — the driver for much of the rapid growth of luxury brands in the past few years — is beginning to slow down. As a result, every major luxury brand has been hit, and hit hard. Big [...]]]></description>
			<content:encoded><![CDATA[<div id="attachment_25731" class="wp-caption alignnone" style="width: 510px"><a href="http://www.businessoffashion.com/2011/10/market-pulse-fears-over-china-trigger-luxury-sell-off.html"><img class="size-full wp-image-25731  " title="Savigny Luxury Index September 2011 | Source: Savigny Partners" src="http://www.businessoffashion.com/wp-content/uploads/2011/10/Savigny-Luxury-Index-September-2011-Source-Savigny-Partners1.jpg" alt="" width="500" height="357" /></a><p class="wp-caption-text">Savigny Luxury Index September 2011 | Source: Savigny Partners</p></div>
<p><strong>LONDON, United Kingdom</strong> —<strong> </strong>The seemingly unflappable luxury market continues to waver, with growing worries that China&#8217;s booming economy — the driver for much of the rapid growth of luxury brands in the past few years — is beginning to slow down. As a result, every major luxury brand has been hit, and hit hard.</p>
<p><strong>Big news</strong></p>
<p>• Luxury stocks suffered a steep sell-off in the last ten days of September as hedge funds moved out of the sector en masse due to growing concerns over the Chinese economy. The SLI took a real beating losing 13.6 percent over the month of September compared to only 3.8 percent for the benchmark MSCI.</p>
<p>• Prized assets are nevertheless still changing hands, as demonstrated by the recent sale of heritage leather goods brand Delvaux and a healthy interest in Italian tailoring brand Brioni, fronted by PPR.</p>
<p>• Hermès’ plan to create a controlling family holding company was cleared by French market authorities, boosting its defences against LVMH and consequently resulting in its inflated share price easing off.</p>
<p><span id="more-25728"></span><strong>Going up</strong></p>
<p><strong> </strong>• With the whole sector being down, the 1.6 percent drop in the Ralph Lauren share price, perhaps justified by a lower Chinese exposure than its peers, feels like a positive.</p>
<p><strong>Going down</strong></p>
<p><strong> </strong>• Much-hyped Prada fell off a cliff, its share price falling by more than 27 percent during September, as much of its IPO valuation rested on the Italian group’s relative under-penetration of the Chinese market compared to other leading luxury brands.</p>
<p><strong>What to watch</strong></p>
<p><strong> </strong>• Chinese entrepreneurs starting to feel some pain after years of blue-sky growth will have an impact on prospects for the luxury sector.  It may be that super-highly priced items (luxury cars, complicated watches) get hit disproportionately more than luxury goods such as handbags or designer clothes, which have lower pricepoints.  This would have valuation consequences for the big players in the sector.</p>
<p><strong>Sector Valuation</strong></p>
<p><a rel="attachment wp-att-25729" href="http://www.businessoffashion.com/2011/10/market-pulse-fears-over-china-trigger-luxury-sell-off.html/sector-valuation-2"><img class="alignnone size-full wp-image-25729" title="Sector valuation" src="http://www.businessoffashion.com/wp-content/uploads/2011/10/Sector-valuation.jpg" alt="" width="448" height="344" /></a></p>
<p><em>Pierre Mallevays is a contributing editor at The Business of Fashion and founder and managing partner of <a href="http://www.savignypartners.com/" target="_blank">Savigny Partners</a>, a corporate advisory firm focusing on the retail and luxury goods industry</em></p>
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		<title>BoF Daily Digest &#124; Prada&#8217;s sweetness, Worldwide demand for Nike, Milan&#8217;s first concept store, D&amp;G to close, Kanye&#8217;s clothes</title>
		<link>http://www.businessoffashion.com/2011/09/bof-daily-digest-pradas-sweetness-worldwide-demand-for-nike-milans-first-concept-store-dg-to-close-kanye-clothes.html</link>
		<comments>http://www.businessoffashion.com/2011/09/bof-daily-digest-pradas-sweetness-worldwide-demand-for-nike-milans-first-concept-store-dg-to-close-kanye-clothes.html#comments</comments>
		<pubDate>Fri, 23 Sep 2011 08:55:34 +0000</pubDate>
		<dc:creator>BoF Team</dc:creator>
				<category><![CDATA[Daily Digest]]></category>
		<category><![CDATA[D&G]]></category>
		<category><![CDATA[Dolce & Gabbana]]></category>
		<category><![CDATA[Excelsior]]></category>
		<category><![CDATA[Kanye West]]></category>
		<category><![CDATA[Nike]]></category>
		<category><![CDATA[Prada]]></category>

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		<description><![CDATA[The Roman Spring of Ms. Prada (On the Runway) &#8220;Miuccia Prada spent her summer vacation in northern Argentina. Karl Lagerfeld was at home in St.-Tropez, ducking camera-snapping tourists. Somehow, though, their spring collections brought us all to Italy, or at least our idea of an Italian holiday. Neither show was a movie-still occasion, but the [...]]]></description>
			<content:encoded><![CDATA[<div id="attachment_25473" class="wp-caption alignnone" style="width: 510px"><a href="http://www.businessoffashion.com/2011/09/bof-daily-digest-pradas-sweetness-worldwide-demand-for-nike-milans-first-concept-store-dg-to-close-kanye-clothes.html"><img class="size-full wp-image-25473   " title="Prada Spring/Summer 2012 | Source: Style.com" src="http://www.businessoffashion.com/wp-content/uploads/2011/09/Prada-SS12.jpg" alt="" width="500" height="333" /></a><p class="wp-caption-text">Prada Spring/Summer 2012 | Source: Style.com</p></div>
<p><a href="http://runway.blogs.nytimes.com/2011/09/22/the-roman-spring-of-ms-prada/?ref=fashion&amp;gwh=FF50F0A017DD1DD12607F4608CA28E08" target="_blank">The Roman Spring of Ms. Prada</a> <em>(On the Runway)</em><br />
&#8220;Miuccia Prada spent her summer vacation in northern Argentina. Karl Lagerfeld was at home in St.-Tropez, ducking camera-snapping tourists. Somehow, though, their spring collections brought us all to Italy, or at least our idea of an Italian holiday. Neither show was a movie-still occasion, but the cottony, upswept hair and glitter-coated eyelids at Fendi might make you think of a 1960s film star. The collarless, knee-length satin coats and pleated chiffon dresses at Prada did the same.&#8221;</p>
<p><a href="http://www.reuters.com/article/2011/09/23/us-nike-idUKTRE78L67D20110923?type=companyNews" target="_blank">Nike sees strong worldwide demand</a> <em>(Reuters)</em><br />
“Nike Inc staved off margin pressure in the first quarter with strong revenue and price increases, and said it was confident about its position among peers as it heads toward the winter holidays… The world’s biggest athletic shoe and clothing maker topped Wall Street’s profit and sales estimates, and its shares rose more than 5 percent in after-hours trading.”</p>
<p><a href="http://www.ft.com/cms/s/2/44845166-e503-11e0-9aa8-00144feabdc0.html#axzz1YZjx7gyG" target="_blank">Milan floats a big idea</a><em> (FT)</em><br />
&#8220;Recently a new fashion store opened in Milan. This would not in itself be a notable occurrence, especially during fashion week, but this is a vast, 43,000 sq ft &#8216;directional emporium&#8217;&#8230; This is Excelsior, Italy’s first upscale concept department store in the Selfridge’s/ Barney’s mode.&#8221;</p>
<p><a href="http://www.guardian.co.uk/fashion/2011/sep/22/milan-fashion-week-dolce-gabbana?newsfeed=true" target="_blank">Milan fashion week: Dolce and Gabbana call an end to D&amp;G </a><em>(Guardian)</em><br />
&#8220;Domenico Dolce and Stefano Gabbana, Milan fashion week&#8217;s kings of bling, can make anything look glamorous – even the usually rather downbeat business of closing a 26-year-old fashion label. Thursday&#8217;s D&amp;G catwalk show, right, was as ever a carnival parade of bouncy, youthful glamour. D&amp;G is the younger sister label to Dolce &amp; Gabbana, and the D&amp;G aesthetic has always appeared to be aimed at a woman with the taste of a cheerleader and the bank balance of a CEO.&#8221;</p>
<p><a href="http://www.guardian.co.uk/music/2011/sep/22/kanye-west-debut-fashion-collection" target="_blank">Kanye West recruits London students for debut fashion collection</a> <em>(Guardian)</em><br />
“Somewhere in London, a nightclub full of fashion graduates are working for Kanye West. The rapper has reportedly recruited Central Saint Martins students to work on his Paris fashion week collection. Next week West is expected to make his prêt-à-porter debut, unveiling, er, something at the fashion world’s most important autumn/winter event.”</p>
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