D&G Autumn/Winter 09 | Source: Dolce & Gabbana

‘Affordable Luxury’ Bucks the Crisis (NY Times)
“Tommy Hilfiger just opened a 22,000-square-foot store on Fifth Avenue in Manhattan, a move that, in this economy, some might call insane. But the Hilfiger line, like many midrange designer brands, is growing, while other labels, notably at the high end, are struggling to hang on to market share.”

Fighting Back Against Shoppers’ Guilt (WSJ)
“Guilt has always been part of the shopping experience. But retail executives say it has become such an overriding emotion among shoppers since the economic crisis set in last year that it is delaying the recovery of the luxury-goods industry.”

Tom Ford to design women’s wear (Independent)
“Ford, who previously designed women’s wear as creative director for Gucci, said that he and his business partner Domenico de Sole were currently on the lookout for financing, but that the new line was likely to launch next fall.”

Debt-laden Safilo agrees plan, new key shareholder (Reuters)
“Italian eyewear maker Safilo said Dutch shareholder Hal Investments would end up owning up to half the company under a 283 million euros ($424 million) recapitalisation plan.”

Now Unveiling Undercover’s Jun Takahashi (NY Times)
“Jun Takahashi, the Japanese designer behind the cult label Undercover, is as reclusive as he is recondite. In a rare interview, The Moment caught up with Takahashi after his recent Paris showroom presentation.”

Abercrombie & Fitch ad campaign, courtesy of Abercrombie & Fitch

Abercrombie & Fitch shares drop sharply (AP)
“Shares of Abercrombie & Fitch Co. tumbled Thursday after the teen retailer posted a bigger-then-expected drop in same-store sales for May. Its stock shed $3.56, or 11.3 percent, to $28.12 in midday trading.”

Across Low and High Ends, Retail Sales Fell in May (New York Times)
“While there have been early signs of stabilization, including improving consumer confidence, concerns over unemployment and the troubled housing market have led many Americans to adopt thriftier behavior, spending on food and other everyday essentials and not much else.”

Offers for Safilo due on Friday – sources (Reuters)
One or more private equity funds will present offers for Italian eyewear maker Safilo SpA on Friday, two sources close to the matter said.

Chief Executive of Versace Is Expected to Resign Friday (New York Times)
“Giancarlo di Risio, chief executive of Gianni Versace since 2004, is expected to resign at a board meeting on Friday in Milan.”