Thom Browne’s New Deal (On the Runway)
“Thom Browne… has sold the majority stake of his business to the Cross Company, the Japanese apparel company he began a relationship with in August. The deal, announced Thursday, lets Mr. Browne maintain creative control of his collection. It will also take some financial pressure off the designer.”

Saks Trades Sales for Margin After Discount Setback (Bloomberg)
“Saks Inc., the New York-based luxury retailer, offered smaller discounts in November than last year and cut inventories to help shrink losses at the expense of sales… Saks reverted to promotion levels of two years ago after offering discounts of 50 percent off already-reduced merchandise in 2008, the worst holiday season in four decades.”

Web 2.0 Creating a Digital Revolution for Fashion (AiInSite)
“A digital revolution is sweeping the fashion world. And this revolution will be blogged, streamed, and tweeted instantaneously. Web 2.0, which describes the interactive second wave of Internet use, heralds a more egalitarian way for designers and shoppers to reach each other.”

Primark faces new claims that it uses sweatshop labour (Independent)
“Primark was embroiled in a new row over the treatment of sweatshop workers today as shareholders gathered to celebrate record profits at the budget clothing chain.”

A gem of an idea (FT)
“As an economy of scale, Ducas ordered double the number of cufflinks her mother needed. She sold the surplus to London’s Harvey Nichols department store – prompting Ayton to write a business plan for a company the couple would later name Links of London.”

Thom Browne, courtesy of NYMag

Is Thom Browne Going Downe? (Blackbook)
With lavish spending on tailors and elaborate shows, Thom Browne’s business may be amongst the first high-profile independent designers to face financial difficulties as demand for his high-priced shrunken suits wanes.

Breaking into the West is hard to do (IHT)
Due to Indian designers “lack of Western-style business structure and of financial support” their effort to break out of the local market is being hampered.

H&M profits hit by currency turmoil (Drapers)
“H&M saw first quarter profits fall back 12% to SEK 3.5 billion after gross margin was hit by currency fluctuations.”

America’s Favorite Foreign Retailers (Forbes)
In terms of market share, foreign retailers are closing in on American stores.

Turning a Page (Newsweek)
“In response to tough times, the fashion business discovers inclusiveness.”