Hublot Platinum Watch Detail | Source: Hublot

LVMH Must Watch It (WSJ)
“LVMH should do more to fill out its lack of presence in the ‘hard’ luxury segments of jewelry and high-end watches. High operating leverage at jewelers and watch makers, especially smaller outfits, has left them economically vulnerable and a potential hunting ground to scale up LVMH’s business.”

Giambattista Valli to Sew His Own Clothes (WSJ)
“Mr. Valli said that, starting today, he ‘ceases any contractual deal with Mariella Burani Fashion Group,’… [the group] is in bankruptcy proceedings which were announced last week during Milan fashion week. Mr. Valli had just signed on with the firm last year.”

Reaching Affluents on Social Nets (e-Marketer)
“Most wealthy Internet users in the US are optimistic about the economy going forward… that should make them attractive to retailers, which are increasingly turning to social networks to attract customers.”

McCartney minimalism reflects new austerity (Independent)
“Stella McCartney opened the proceedings at the Paris collections yesterday with a show that went to prove that the return of minimalism to the international catwalks is the story of the autumn/winter 2010 season.”

Red Carpet Fading Away (IHT)
“Sometimes a fashion moment is defined as much by what is not on the runway as by the catwalk favorites. And with only one more day of autumn/winter 2010 in Paris before the season’s close, dressy evening clothes are fading from the limelight.”

Christian Lacroix by Annie Leibovitz, Vogue December 2003 | Source: Vogue

End of a fairytale: Christian Lacroix fashion house to strip down (Guardian)
“Christian Lacroix, the celebrated French designer whose fantastical creations and luxurious image captured the decadence of its age, was told today that the fashion house he founded over two decades ago is to cease making haute couture.”

J.C. Penney Is Betting Big By Adding A European Flair (WSJ)
“J.C. Penney Co.may be making its biggest fashion statement yet with the addition of a European fashion store within its own stores. J.C. Penney will begin selling merchandise by Barcelona-based retailer Mango in separate departments, or “mini stores,” within its own stores as a way of highlighting the trendy European merchandise for women.”

Fashion Entrepreneurs Capitalizing on High-End Rentals (Inc.)
“Companies that offer designer duds for rent are the saving grace of fashion-forward women who can’t afford such upmarket tastes in the recession… Membership-only designer rental companies that offer costly, elegant attire for just a fraction of the retail price have been experiencing a boom in the down economy.”

Fashion retailer Yoox prices IPO at 4.3 euros/share (Reuters)
“Italian online fashion retailer Yoox priced an initial public offering at 4.3 euros per share, towards the upper end of the indicated range, it said on Tuesday. Yoox will become the first company to float on Milan’s main MTA market after a 20-month hiatus caused by market turbulence. It will debut on Dec. 3.”

Stella McCartney to team up with Morrissey for vegan shoe range (Independent)
“Fashion designer and animal rights activist Stella McCartney has found the perfect collaborator for a leather-free shoe collection: cult singer and fellow vegetarian Morrissey. ‘I’m working with Morrissey on a line of leather-free shoes which I’m really excited about.’”

Rathore Jodhpurat A/W 09 at Wills Fashion Week

Sustainability is back in fashion (IHT)
As the industry redefines the meaning of luxury, “Sustainability” and “Responsibility” have become the new buzz words.

Ted Baker profits fall (Drapers)
Ted Baker saw pre-tax profit fall 19.5% to £17.8 million for the 53 weeks ended January 31.

In Fashion, Some Like It Haute (WSJ)
“Economic crisis doesn’t mean the end of luxury. But while many brands have been battered, those that show grace under fire should be coveted investments.”

Inditex sales rise 12% (Drapers)
Sales are up at Inditex for the fiscal year 2009 and sales are trending ahead by 9% in February.

Stella McCartney on ecology, luxury and life (IHT)
Stella McCartney sits down with Suzy Menkes and lets us in on her label’s eco conscious stance.

LONDON, United Kingdom – Just a few years ago, the concept of Ethical Luxury was dismissed by major luxury brands. Products based on environmental concerns and fair trade principles were associated with hippies. Most fashion conscious cosmopolites wanted nothing to do with the Birkenstocks, baggy pants, and hemp T-shirts of the so-called green movement.

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Japan’s Fast-Fashion Frenzy (JC Report)
“Japanese consumers have fallen head over heels for cheap clothing and may never turn back.”

McCartney Sets New Tokyo, Paris Stores (WWD)
Although the brand is only seven years old, Stella McCartney has opened new stores in Tokyo and Paris.

The Gap’s Resurgence: Great Start to the Holiday Season (Seeking Alpha)
At Gap, “spending is up significantly” for November 2008 compared to last November.

Retailers Will Find It Hard to Keep Shoppers’ Attention This Year (Seeking Alpha)
Though Black Friday sales were impressive in the US, many analysts think that consumers wouldn’t be able “to sustain their buying frenzy for the duration of the holiday season.”

People lining up to purchase goods at Topshop in Tokyo, photo courtesy of  jcreport.com.

Back in September, The Business of Fashion caught up with noted futurist Faith Popcorn to talk to her about “recession culture,” and how this changes the way consumers scrutinise spending decisions. It seems like a quaint discussion now (because of my questions, not Ms. Popcorn’s answers) because our interview took place back when consumers in the U.S. were still spending.

Boy have things changed since then. By the middle of October, Eric Wilson of the New York Times reported of worried U.S. consumers walking into department stores and retailers, shopping bags in hand, returning entire bags of merchandise which had been previously purchased. What’s more, he went on to report of dramatic drops in sales at major luxury departments stores in September, including Bergdorf Goodman, Saks, Neiman Marcus and Nordstrom — and this was even before the astonishing market meltdown in October.

Perhaps my question should have been: “What kind of fashion will inspire them to re-open their wallets?”

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Bolstered by a string of well-received collections in recent seasons, positive feedback from the sales floor, and her newly profitable status, Stella McCartney is setting her sights on Asia. 

In 2007, the brand signed an exclusive distribution deal with the Lane Crawford Joyce Group to open 10 freestanding stores in China, Taiwan, Hong Kong, Macao, Singapore, Thailand, Malaysia and Indonesia by 2012. And yesterday, McCartney announced a partnership with TSG International Marketing Pvt to open 6 stores across India, including two stores by the end of this year.

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