Net-a-Porter features Utility Chic | Source: Net-a-Porter

Net-a-Porter is being acquired for up to £350m by Richemont (Telegraph)
“The deal, expected to be completed this week, will see founder Natalie Massenet, a former fashion journalist, become at least £50m richer as Richemont acquires the remaining 70pc of the company it doesn’t already own.”

Phillips-Van Heusen Acquires Hilfiger for $3 Billion (NY Times)
“Phillips-Van Heusen, the clothing conglomerate that owns Calvin Klein, announced Monday that it would buy Tommy Hilfiger, once a leading purveyor of colorful preppy clothing, for about 2.2 billion euros, or $3 billion.”

Prada accused of maltreatment (Japan Times)
“A senior manager at Prada Japan has filed a legal complaint against the Italian fashion label, accusing the company of harassment and discrimination based on appearance and alleging it maltreated other employees in the past.”

Liberty back in fashion as store weighs up bid approaches (FT)
“Liberty, the listed upmarket London retailer, is in take-over talks with Marco Capello, the former managing director of Merrill Lynch Global Private Equity , in a deal that could value the group at about £40m.”

Gen Y Will End Luxury Drought — In ‘20 (Media Post)
“The last two years have permanently altered America’s relationship with the luxe life, says Pamela Danziger… While Gen Y definitely has champagne tastes, they won’t be able to back it up with real bucks for another decade or so.”

Alexander McQueen Autumn/Winter 2010 | Source: Style.com

A light in the darkness (Style.com)
“In Alexander McQueen’s final collection, medieval influences transformed into calm, poetic beauty.”

Phillips-Van Heusen May Gain From Buying Hilfiger (Bloomberg)
“Phillips-Van Heusen would gain extra profit within a year of a reported potential acquisition of Tommy Hilfiger Corp.”

Neiman Marcus posts profit as sales start improving (Reuters)
“Neiman Marcus reported a quarterly profit on Tuesday as shoppers returned to its upscale department stores over the holidays and the retailer avoided profit-devouring discounts by keeping inventories low.”

2010 landmark year as online ad spending overtakes print (Biz Report)
“New figures released by research firm Outsell show that, for the first time ever, businesses plan to spend more this year on digital and online advertising and marketing than on print.”

Can Sackcloth Have Fur Trim? (NY Times)
“Perhaps sensing that fashion editors, at this point, did not need to see another plain camel coat, Karl Lagerfeld showed a Chanel collection on Tuesday that combined seven or eight ideas in a single outfit.”

Lily Donaldson's Flying Hair by Matthew Donaldson | Source: Nowness

Marketing to the Millennials (IHT)
“Finding a way to reach a generation that is eager to be entertained and informed, yet resistant to the familiar, in-your-face 20th-century approach, is the focus of every smart luxury and fashion brand.”

Reimann Family Seeks More Luxury Acquisitions (Bloomberg)
“Labelux Group, the luxury company founded by Germany’s billionaire Reimann family, may make another acquisition this year to add to a portfolio of brands that includes shoemaker Bally International.”

Small Fashion House Sets Pattern in Milan (WSJ)
“There are advantages to designers mixing their media. Putting fur arms on a leather motorcycle jacket, as Frida Giannini did at Gucci this week, reduces the cost of the garment compared with a full-fur jacket, as well as its ultimate price to consumers.”

Luxury goods help lift European bourses (FT)
“Richemont extended Monday’s gains after media forecasts that the Swiss luxury goods company could see its shares jump 50 per cent or more in the next year as a result of a rebound in the sector.”

Hilfiger For Sale? (Vogue.com)
“Tommy Hilfiger may be up for sale today, as the private equity firm which owns it, Apax Partners, has reportedly begun gauging interest in the company.”

Rue La La Out of the Box | Source: Rue La La

Software Maker Buying Web Fashion Discounter (NY Times)
“GSI Commerce, which manages the Web sites for major retailers like ToysRUs.com and Zales, announced on Tuesday that it was buying Rue La La, a Boston start-up, in a deal valued at $350 million.”

Giorgio Armani organizing staff as successors (Reuters)
“Italian fashion designer Giorgio Armani, still frail after a bout of hepatitis, hinted on Tuesday of succession plans for his vast clothes empire after his retirement and joked about his appearance.”

Tommy Hilfiger European retail sales soar (Drapers)
“Tommy Hilfiger has revealed that global sales increased by 3.5% to EUR772m (£697.9m) in the six months to September 30. In Europe retail sales rose 24.4% with like-for-likes up 2.5%. However, European growth was offset by a slowdown in wholesale sales resulting in an overall sales decrease in Europe of 6.4%.”

TPG makes £500m profit from Debenhams exit (Drapers)
“Debenhams’ shareholder TPG, the American private equity group which took the department store private, has sold its remaining shares in the retailer, for a cool £500m profit.”

Hinterview: Riccardo Tisci (Hint)
“Givenchy designer Riccard Tisci is so Italian. Tall, dark and an aficionado of everything from music to art, he also talks a kilometer a minute…within minutes he had covered rave-hopping in Rio, trouble in paradise, his first fragrance and moving to New York—and being young enough to do it all over again.”

Burberry’s Sales Growth Slows in First Quarter (WSJ)
“U.K. luxury fashion group Burberry PLC Wednesday reported a further slowdown in sales growth in its fiscal first quarter as the economic downturn continued to hold back demand, but the company remains confident it can deliver growth over the long term.” Click here for a behind the scenes look at the most recent Burberry campaign featuring Emma Watson.

H&M Sales Fall 5%, Miss Forecasts (WSJ)
“Fashion retailer Hennes & Mauritz AB Wednesday reported a worse-than-expected drop in comparable store sales in June, as consumers continue to rein in spending amid the economic slowdown.”

Throwaway fashion ‘must end’ as chain launches 100 day returns policy (Telegraph)
“The recession has boosted the popularity of ultra-cheap clothing, with Tesco, Asda and Primark’s clothing sales all performing well over the last year. However, Anthony Thompson the head of George, Asda’s clothing business and the country’s third biggest fashion retailer, said: ‘I am appalled at the whole concept of throwaway fashion. It’s not right at any time, and it’s definitely not right in a recession.’”

WGSN to provide business updates to tap Indian fashion market (DNA India)
“WGSN with its understanding and insights of global fashion and experience of working with Fortune 500 companies, plans to partner with the Indian fashion industry to identify opportunities and the process to become a global player.”

Hilfiger to be lead designer for Chicago fashion incubator (Chicago Sun-Times)
“Furthering Mayor Richard Daley’s efforts to turn Chicago into the trendy Windy City and to attract worldwide attention, the city and Macy’s are expected today to name fashion designer Tommy Hilfiger as ‘master designer’ for the city’s Fashion Incubator.”