Today we are delighted to bring you the first installment of India Inc., a regular column on the Indian luxury market by Bandana Tewari. MUMBAI, India — Atop Aer, a tony roof-top bar at the Four Seasons with a sweeping panorama of slumdog-Mumbai — a circuitous medley of high-rises and slums alike — the time at which you arrive for a “Worli Sunset,” a vodka and mandarin cocktail named after the neighbourhood, says a lot about you.
Well heeled: Manolo Blahnik and his left-hand woman (Independent) “As his exclusive collection for Liberty arrives, Manolo Blahnik talks footwear, films and fabrics with his niece and ‘left-hand woman’ Kristina…Since he set up shop in the Seventies Manolo Blahnik has become the world’s most famous artisan shoemaker.” The Evolution of the Fashion Film (WSJ) “‘This is the new
Fashion goes live on line (AP) "The fall-winter 2010-2011 preview presentations, the first shows of the new decade, got under way over the weekend with a new fashion passion: live online showcasing. Gone are the days when house bouncers, trained to spot potential copycats, blocked any unauthorized person who dared snap a picture during a show." Defiant Armani rules out sale of empire (Financial Times) "Giorgio Armani, the doyen of Italian fashion designers, has ruled out a sale of his global empire and has no plans to step back from day-to-day involvement. Mr Armani sought to quash speculation that he may sell the house to a bigger group, saying he had no need or desire to sell and would always…
Fast-Forward Phoebe (Vogue) “Phoebe Philo always had an uncanny gift for defining exactly what cool women want to wear. Now she’s back, reinventing Céline for a new era.” LVMH in a recession: The substance of style (The Economist) “The world’s biggest luxury-goods group is benefiting from a flight to quality, but the recession is also prompting questions about the company’s breadth and balance.”
Rodarte’s Target (Vogue) “Rodarte will join the ranks of Erin Fetherston, Jovovich-Hawk, Rogan and Jonathan Saunders (among others), as the latest designers to collaborate with American retailer Target as part of its Go International series.” Clessidra Pulls Out Of Deal With Cavalli (WSJ) “Italian private equity fund Clessidra SGR SpA has pulled out of a deal with fashion house Roberto Cavalli after
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
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
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
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.…
Karl Lagerfeld for H&M. Roland Mouret for Gap. Giles Deacon for New Look. Proenza Schouler for Target. And the list goes on. You'd think by now that consumers would have started to tire of it all. At a Retail and Luxury Conference earlier this year, Peter Som said that he felt the whole thing was played out and that it was no longer a distinctive way of creating brand buzz, which I thought was a good point. Well, one look at a video from Style.com (see below), which shows the pandemonium that erupted in New York when Roberto Cavalli and Canadian model Jessica Stam unveiled his own H&M collection on Thursday, and it seems there may be some mileage in…