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.”

Alexander McQueen Autumn/Winter 2010 | Source: Style.com

A light in the darkness (Style.com)
“In Alexander McQueen’s final collection, medieval influences transformed into calm, poetic beauty.”

Phillips-Van Heusen May Gain From Buying Hilfiger (Bloomberg)
“Phillips-Van Heusen would gain extra profit within a year of a reported potential acquisition of Tommy Hilfiger Corp.”

Neiman Marcus posts profit as sales start improving (Reuters)
“Neiman Marcus reported a quarterly profit on Tuesday as shoppers returned to its upscale department stores over the holidays and the retailer avoided profit-devouring discounts by keeping inventories low.”

2010 landmark year as online ad spending overtakes print (Biz Report)
“New figures released by research firm Outsell show that, for the first time ever, businesses plan to spend more this year on digital and online advertising and marketing than on print.”

Can Sackcloth Have Fur Trim? (NY Times)
“Perhaps sensing that fashion editors, at this point, did not need to see another plain camel coat, Karl Lagerfeld showed a Chanel collection on Tuesday that combined seven or eight ideas in a single outfit.”

Burberry Autumn/Winter 09 | Source: Burberry

Burberry targets India’s brand-aware middle class (Times)
“Burberry, the British luxury brand, is poised to enter a joint venture to expand its presence in India, a market in which the ultra-rich are thriving because of a soaring stock market.”

Phillips-Van Heusen 3Q profit up, raises outlook (AP)
“Clothing maker Phillips-Van Heusen Corp. on Wednesday posted a jump in third-quarter earnings, boosted by a $30.4 million tax benefit, and raised its full-year 2009 profit outlook citing factors including higher expected royalties.”

Burkle Acquires Large Stake in Barneys Debt (WSJ)
“Ronald Burkle has become a significant investor in Barneys New York in recent months, with his Yucaipa Cos. buying a chunk of the struggling luxury retailer’s debt.”

Gap profits rise 25 percent (Drapers)
“Profits at American casualwear giant Gap grew 25% over its third quarter boosted by improved sales at its value fashion chain Old Navy.”

My Techno: A Designer Viewpoint (IHT)
“Some are cyberexperts and others are technophobes, but most designers today embrace a variety of technology applications… there are all sorts of ways that designers are using technological skills without necessarily navigating through cyberspace.”

Saks S/S 09 ad campaign, courtesy of Saks

Saks swings to a loss as demand falters (MarketWatch)
“Saks Inc. swung to a smaller-than-expected first-quarter loss Tuesday after the luxury retailer controlled inventory and expenses amid faltering demand for upscale goods.”

Halston Taps Marios Schwab as Creative Director (WWD)
“Ending one of the most speculated-about searches in recent months, Halston has tapped London-based designer Marios Schwab as its new creative director effective July.” (Subscription required)

Phillips-Van Heusen profit falls but beats Street (Reuters)
“Phillips-Van Heusen Corp, owner of the Calvin Klein brand, said on Tuesday that its quarterly net income fell, hurt by lower sales, but the results were better than Wall Street expected.”

Topshop unveils Kate Moss high summer collection (Drapers)
“Topshop has unveiled its high summer Kate Moss for Topshop collection which hits stores tomorrow.”

Models: Taking Business Into Their Own Hands (Forbes)
“While the supermodels of the ’80s–Linda, Naomi, Christy–were content with walking the runways and playing muse to the likes of Gianni Versace and Karl Lagerfeld, today’s top models have their eye on their own fashion design careers. Say goodbye to the supermodel and hello to today’s model/designer.”