Japanese web bargains, Lagerfeld goes masstige, Richemont sales jump, PVH raises outlook, Wintour’s web

| Daily Digest

Louis Vuitton Omotosando | Source: Highsnobiety

Web-Bargain Luxury Comes to Japan (WSJ) “For decades, the model for selling luxury imported goods in Japan has been simple: plush surroundings, attentive service—and the ‘Japan premium’… But the cozy system may be cracking, [thanks in part to] third-party websites to jump in with deep discounts.” Karl Lagerfeld cancels Paris show (Catwalk Queen) “Instead, the designer is working on a new

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Richemont disappoints, UK retail plunges, J Crew beats Street, Zara’s Indian move, DIY design blogs

| Daily Digest

Chloè Spring-Summer 2010 | Source: Chloè

Richemont downbeat over sector prospects (FT) “Richemont’s restraint, along with lower than expected net profits, disappointed some analysts. Sales fell by 4 per cent to €5.18bn ($6.4bn), while net profits from continuing operations dropped 18 per cent to €603m. The closely watched margin fell to 16 per cent from 17.9 per cent.” Falling retail sales dampen recovery hopes (Times) “Retail sales plunged to a

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Craftmanship’s demise, Richemont’s prize, Crowdsourcing fashion, Designing for China, McQueen’s final days

| Daily Digest

Céline Spring/Summer 2010 | Source: Céline

Europe laments craftsmen’s demise (FT) “Europe’s luxury goods makers have warned that numbers of skilled craftsmen – prized by dressmakers, perfumiers and watchmakers for their expertise – are dwindling rapidly as suppliers have sourced more production from Asia.” Ready for the next chapter in e-tailing (FT) “E-tailing is no longer a luxury for the luxury industry – it’s a necessity… [Richemont] became the

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Breaking News | Richemont confirms acquisition of Net-a-Porter

| London

Net-a-Porter screenshot | Source: Net-a-Porter

LONDON, United Kingdom — It’s official and finally confirmed. Net-a-Porter, the world’s pioneering and leading luxury ecommerce retailer has been acquired by Richemont, which was already the largest shareholder in Net-a-Porter prior to the announcement of the transaction this morning, valuing the business at a whopping £350m. Natalie Massenet, Net-a-Porter’s Founder and Executive Chairman has long been a friend

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Luxe M&A returns, Richemont and Net-a-Porter link up, Fashion Culture, Nilsson’s 9 lives, Sartorialist knockoff

| Daily Digest

Julianne Moore for Bulgari 2010 | Source: Bulgari

Luxury sector readies for increase in deals (Financial Chronicle) “Merger and acquisition activity in the luxury sector is set to rise after a twoyear hiatus, driven by a recovery in the sector, closer price agreement between buyers and sellers and the weaker euro.” Richemont seeks to buy UK’s Net-a-Porter (Reuters) “Swiss luxury goods maker Richemont is seeking to buy the 67 percent of UK online fashion

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