LONDON, United Kingdom — NewRiver Retail Ltd. invested in a 24th U.K. shopping center, convinced the property will generate reliable income even in hard times, its chief executive officer said. The real-estate owner’s shares are outpacing competitors.
LONDON, United Kingdom — British fashion retailer Primark said on Tuesday it would provide short-term financial assistance to all victims and families affected by the collapse of Rana Plaza last month in Bangladesh while the clothing industry continues to formulate a long-term compensation plan.
In the wake of disasters in Bangladesh garment factories that have claimed hundreds of lives in recent months, shoppers in the West have shown growing concern about worker safety in developing countries. As long as it doesn’t mean an end to bargains.
DHAKA, Bangladesh — At least 175 mainly women workers were killed in a Bangladesh building collapse and rescuers searching for survivors said on Thursday that many more were trapped in the rubble of a complex that housed factories supplying Western clothes retailers including Primark and Joe Fresh.
Tommy Hilfiger Dreams of Limitless Horizons (IHT) “‘We are really living the American dream,’ Mr. Hilfiger said, ‘to be a successful brand in the States and in Europe and to steep ourselves in our heritage. But we do it with a sense of humor. We don’t take ourselves too seriously in fashion.'” ‘Cyber Monday’ Sales Show Strength (WSJ) “Online retailers experienced a sales surge Monday,
Primark is the best summer seller (Independent) “Love it or loathe it, you can’t avoid it – at least not anymore. As we report… Primark became Britain’s biggest clothes retailer by sales volumes over the summer. That is a position that has traditionally been occupied by Marks and Spencer.” How Bergdorf Goodman understands the new luxury purchase funnel (Luxury Daily) “Upscale department store
Full Spectrum, Less Spectacle (NY Times) “Don’t be fooled by the giant lion at Chanel… Most of the remaining half-dozen or so houses that show haute couture scaled down their presentations… a nip here, a tuck there and a P.R. man explaining in a hushed tone that the designer wanted to ‘return to couture’s roots.'” Luxury shoppers pull back in June (Bloomberg) “MasterCard Advisor’s
Coach Doubles Dividend as Earnings Top Estimates (BusinessWeek) “Coach Inc., the largest U.S. maker of luxury leather handbags, doubled its dividend and announced an expansion in Europe … The company said it planned to open at least 14 stores in France … with Printemps, the French department-store chain. Coach has also agreed in principle to create a joint venture with Hackett Ltd. to open stores in the U.K.,
Mom, I’ll Make a Profit Soon (WSJ) “Mrs. Posen has been pressing for more attention to the commercial side—as opposed to the artistic side—of fashion. The company has added new lines, shed expenses and employees, and even moved some production from Italy to China to save money.” Jaeger targets younger shoppers (FT) “Boutique by Jaeger aims to compete with high street stores such as Whistles, Reiss and All
Martin Margiela to Leave Fashion House He Founded (NY Times) “Insiders had known for months that Mr. Margiela had left the company in all but name. The designer’s particular vision, which had focused on the authenticity of the vintage artisan fused with modern photo prints depicting wrinkles or handwork, was missing from recent shows.” Primark beats its one-day sales record (Independent) “The flagship Primark
Thom Browne’s New Deal (On the Runway) “Thom Browne… has sold the majority stake of his business to the Cross Company, the Japanese apparel company he began a relationship with in August. The deal, announced Thursday, lets Mr. Browne maintain creative control of his collection. It will also take some financial pressure off the designer.” Saks Trades Sales for Margin After Discount Setback (Bloomberg) “Saks
2009’s Most Powerful Fashion Magazine Editors (Forbes) “This year, moving pictures mattered to U.S. magazine editors like never before.” Gucci Group sees Balenciaga as a rising star (Forbes) “Balenciaga, the trendy fashion house favoured by actresses such as Charlotte Gainsbourg, is the fastest growing brand within the Gucci Group and meeting all pre-crisis targets, its head said on Monday.” Primark
Burberry wholesale sales slide (Drapers) “Burberry’s revenue rose 2% on an underlying basis and grew by 21% to £663 million for the six months ended March 31 but the luxury brand warned that wholesale sales would slide further in the next six months.” Do Discount Designer Duds Make The Grade? (WSJ) “Recession-scarred retailers are turning to collections of cheap-but-chic designer clothing to lure customers