Carré Hermès | Source: Hermès

Jean-Louis Dumas, Chief of Hermès, Dies at 72 (NY Times)
“Jean-Louis Dumas, who revived the flagging fortunes of Hermès in the late 1970s and in his nearly 30 years as the company’s chief executive transformed it into one of the world’s most successful luxury brands, died Saturday at his home in Paris.”

Louis Vuitton Tops Hermes, Gucci as Most Valuable Luxury Brand (Bloomberg)
“Louis Vuitton, the French fashion brand known for its monogrammed luggage, topped Millward Brown Optimor’s 2010 BrandZ ranking of the most valuable luxury labels for the fifth straight year.”

Costumes On Display at the Met (WSJ)
“There are really no other evenings in New York like the Costume Institute Gala, which falls on the first Monday in May and is hosted, as it has been for years, by Vogue. This is partly because there’s a great element of surprise.”

YSL’s Stefano Pilati (South China Morning Post)
“‘More or less I have done everything I have had in mind so far – in terms of collections, playing with the heritage but not too much and preserving the runway as something directional yet true to what I feel. Sales, for me, show I have done a good job.’”

The Collector: Jason Wu (WSJ)
“In 2008, he was a finalist for the Council of Fashion Designers of America/Vogue Fashion Fund award, a prestigious prize for emerging designers. But when the inauguration gown went viral in the multimedia world, he became a household name overnight.”

J.Crew A/W 09, courtesy of J Crew

Despite Fourth-Quarter Loss, J. Crew Sees Room to Grow (WWD)
“Tightfisted consumers and rising costs may have pushed J. Crew Group Inc. to a $13.5 million loss in the fourth quarter, but the retailer still has cautious expansion.” (Subscription required)

Has spring sprung for US retailers? (Just-Style)
Though February sales have improved, this is an unlikely sign of a total recovery.

Simon Fuller to launch fashion retail portal (Drapers)
“Pop mogul Simon Fuller and Sojin Lee, formerly Net-a-Porter.com, are to launch a fashion style website which will be affiliated with brands and retailers via pop-up shops and advertising.”

Stefano Pilati Gets The Season’s Shoulder Just Right at YSL (WSJ)
The power shoulder is one of the biggest trends this season, but Stefano Pilati at YSL, offerred the “2009 version of 1985.”

John Lewis profits fall 27% (Drapers)
“John Lewis saw operating profit fall back 26.8% to £146 million for the year ended January 31, but sales were flat at £2.81 billion.”

Stefano Pilati of YSL, courtesy of Wallpaper

Black is back at Yves Saint Laurent (Financial Times)
After ten years of losses, Yves Saint Laurent breaks even amid the current recession.

Net-a-Porter profits rocket (Drapers)
Due to improved margins, Net-a-Porter’s pre tax profits are up 300 percent to £9 million.

Wal-Mart’s Profits Attributable to Sad State of Economy (Seeking Alpha)
“Wal-Mart is one of the few stalwarts to actually expand business amidst today’s financial carnage and the glowing statistics are not to be mistaken for a grandiose harbinger of U.S. economic vitality.”

Christian Lacroix Heads Back to the Basics (WSJ)
As a response to the economic tumult, Lacroix pulled back on his signature exuberance.