Claiborne experiences loss, Richemont profits down, Anna Wintour in conversation, Men’s spending still on the rise

Liz Claiborne S/S 09, courtesy of Liz Claiborne

Liz Claiborne Results Raise Questions About Retailer’s Future (CNN Money) “Liz Claiborne’s future is being questioned after the fashion retailer posted a sharply wider first-quarter loss and sees a similar performance for the current quarter as the company is stymied by a lack of customers, big markdowns and a low cash position while trying to reignite demand through efforts that include a new namesake

…Continue Reading

Luxury’s breaking point, Versace’s loss, Blass hires, Topshop goes West, Richemont revives

Luxury’s Breaking Point (CNBC European Business) “MasterCard SpendingPulse reported luxury goods was the worst hit category in the final two months of 2008, with year-on year sales nosediving 34% between 1 November and 24 December in the US.”  Versace Profits Fall 30 Percent (WWD) Versace feels the effects of the downturn with a 30 percent decrease in net profits. (Subscription required) Bill Blass is Hiring

…Continue Reading

Luxury Outlook | Richemont reels

ZURICH, Switzerland — “Demand for luxury goods…has fallen dramatically and Richemont is currently facing the toughest market conditions since its formation 20 years ago…we see no cause for optimism. We must assume that there will be no significant recovery in the foreseeable future and plan accordingly to cope with this situation.” With those ominous words in its trading update on Monday, Richemont provided the first

…Continue Reading

Breaking News: Alaïa in surprise deal with Richemont

I heard rumours in Paris last week about a major luxury group taking a significant stake in Azzedine Alaïa's business, after he bought his business back from Prada this summer. Today's WWD confirms the mystery conglomerate as Richemont, a company known more for luxury watches and jewellery than high fashion. Azzedine Alaïa is the ultimate fashion insider brand, loved by legions of devoted fans of his signature 80's body-con dresses that have come into fashion's favour again of late. Alaïa's intricate and complex garment construction and personal touch are vestiges of a different era in fashion, and for this he is respected by even the most jaded fashion types. Recently, Mr Alaïa has become better known to the mainstream for…

…Continue Reading