Just Cavalli S/S 09 Advertising campaign

Just Cavalli Extends License With Ittierre SpA (WWD)
“Roberto Cavalli has signed a new five-year license with Ittierre.” (Subscription required)

Esprit Appoints Ronald Van der Vis To Replace Krogner As CEO (WSJ)
Esprit Holdings Ltd. will name Ronald Van der Vis as their new CEO, replacing Heinz Krogner as the brand’s top man.

Big Retailers Revamp for ’09 (WWD)
“After a tumultuous fall – defined by the promotional hurricane that swept through the retail landscape – department stores are going on the offensive this spring.”

When ‘S.V.U.’ Stands for ‘Shopping Victims United’ (NYT)
“They say that gamblers like to ‘play the percentages.’ As the recession drags on, shoppers are doing the same, seeking stores where the signs promise sale prices that are 50, 60, 70 percent or more off regular prices.”

International Leaders at the G20 Summit in London

Change in Bank Rules Lifts Stocks (NYT)
“Hopes that the worst days of the financial crisis are retreating lifted stock markets on Thursday after government leaders pledged huge new financial rescues and a regulatory group moved to rewrite financial regulations and accounting rules.”

Fast Retailing: Uniqlo Mar Same-Store Sales Up 7.9% Y/Y (WSJ)
According to the brand, “same-store sales at its domestic Uniqlo casual clothing store chain in March rose 7.9% on year, extending the string of on-year gains to five straight months.”

Just Cavalli May Extend License (WWD)
“Ittierre SpA may have secured the Just Cavalli license for another five years and perhaps its future as well.”(Subscription required)

Tom Ford Revamps Asian Operations (WWD)
“Tom Ford International has made changes to its Asia business, forming a new retail operation and ending its partnership with Lane Crawford in the region.” (Subscription required)

World’s first Sikh supermodel debuts in GQ fashion spread (Telegraph)
“A San Francisco businessman is set to become the world’s first Sikh supermodel after being picked to feature in top fashion magazines including GQ.”

Cavalli insignia projected on new rue St Honoré flagship

PARIS, France — On Saturday night, at the grand opening fete for Roberto Cavalli’s new Paris flagship on ritzy rue St Honoré, they were giving out large, plastic-coated goodie bags in the bold, signature leopard print for which Mr. Cavalli has become known over the years. Most recently, he used this to great success in his collaboration with H&M, which effectively introduced the Cavalli brand and aesthetic to a whole new generation of consumers.

However, there was one significant oddity about the goodie bags in question: there were no goodies. Except for a glossy white magazine with the brand’s latest, over-styled advertising campaign featuring Daria Werbowy, there was nothing inside.

While this did seem to say something about the state of the economy, as goodie bags are usually teeming with freebies and samples, even more, the empty bags seemed to be a real-life metaphor for the new store itself. Behind all of the sparkle and bling, and even with hundreds of people packed in side, the 8,640-square foot emporium felt a bit empty and soulless.

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Retailers Offer Big Discounts, and Then Pray (New York Times)
Retailers have been offering doorbuster sales before Thanksgiving in order to lure customers in store despite the economic downturn.

Tiffany Profit Drops, Cuts Forecast as Sales Fall  (Bloomberg)
Tiffany & Co. “said profit fell and cut its forecast as sales dropped for the first time in almost seven years amid the global financial crisis.”

Cavalli Cleared of Tax Evasion (WWD)
Roberto Cavalli has been cleared of tax evasion by the Italian Supreme Court of Cassation.

Where To Find Small-Store Holiday Sales  (Forbes)
 ”Independent retailers are cutting prices and adding personal touches in order to stay afloat.”

Doorbuster deal at Toys R Us, photo courtesy of the New York Times.

Apax Partners, the London-based private equity firm, has abandoned its bid to take a stake in Escada AG, the embattled German fashion company.  Citing deteriorating market conditions, Apax stated that

“the recent evolution of the stock price and the weakness of the international financial market do not give a basis for pursuing the project.”

This is absolutely the right decision. Not only has Escada become somewhat of an industry basket-case in recent years, on Wednesday the company also revised its earnings projections for year ending October 31 downwards yet again. EBITDA margins are  expected to fall by about 25% compared to 2007. The company cited recessionary conditions in the USA and other key markets as the reason behind the revisions. Escada’s shares fell by 10.8% on Wednesday to 14.35 euros.

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