Stars in their stripes: Missoni a fashion powerhouse (Independent) “For 50 years, it has dressed the stylish in its striped and zig-zag knits. Missoni is a fashion powerhouse, a family business and, a new exhibition argues, an Italian national treasure.” Fast Retailing Lives Up to Name With Global Gains (WSJ) “Despite the economic gloom brought on by Japan’s shrinking domestic consumption, Fast Retailing Co.
LONDON, United Kingdom — “Men’s and women’s polo t-shirts in 25 colours from £12.99!” Ads announcing this Uniqlo promotion have been plastered alongside London buses this month, as well as being featured front-and-centre in Uniqlo shops everywhere. Same-store sales rose 18.3 percent in May 2009 over last year for the Japanese retailer, and the company’s stock hit five-year record highs. Over at
Armani profits drop 14% in ‘difficult’ year (FT) “Giorgio Armani, the trend-setting Italian fashion group, reported a 14.6 per cent fall in profits in 2008 in spite of a slight rise in revenues and the opening of 50 new stores, as its owner reflected on a ‘difficult’ year for the industry.” PPR says to focus on cash and cost-cutting (Reuters) “French retail and luxury group PPR on Thursday
Burberry cut to neutral at J.P. Morgan (WSJ) “J.P. Morgan downgraded fashion company Burberry group to neutral from overweight, saying the group is now trading at a 5 percent discount to the luxury goods sector, compared to a historical average discount of 20 percent.” Taobao Partners with UNIQLO to Grow China’s Online Fashion Market (Businesswire) “UNIQLO, a new-style casual wear brand under Japan’s leading
Fashion House Lacroix Seeks Partner (WSJ) “The owner of the iconic but unprofitable Christian Lacroix couture fashion house is in talks to sell a stake in the firm to private investors, people familiar with the matter said, as cutbacks by U.S. department stores take a toll on apparel designers.” Bamford, Pringle said to be restructuring (WWD) “Two British luxury labels—Bamford and Pringle of Scotland—are
Change in Bank Rules Lifts Stocks (NYT) “Hopes that the worst days of the financial crisis are retreating lifted stock markets on Thursday after government leaders pledged huge new financial rescues and a regulatory group moved to rewrite financial regulations and accounting rules.” Fast Retailing: Uniqlo Mar Same-Store Sales Up 7.9% Y/Y (WSJ) According to the brand, “same-store sales at its domestic Uniqlo casual
Jil Sander to join Uniqlo (Drapers) Jil Sander is set to become a design consultant at Uniqlo, “which will see her take overall creative control of the value fashion chain’s womenswear and menswear ranges.” Delhi gears up for two fashion ‘weeks’ (India PRwire) “Term it excess in times of a global economic slump, but two parallel events – the Wills Lifestyle India Fashion Week (WIFW) and the
Oscars Evolve With Economy (WWD) “With the worldwide economy in turmoil, glamour lives in the run-up to Hollywood’s annual Academy Awards extravaganza on Sunday night, but brands are finding ways to save a buck.” (Subscription required) PPR sees fourth quarter sales slow (Drapers) Although PPR, the French conglomerate that owns Gucci, saw revenues rise in 2008, its fourth quarter earnings slowed. America’s
TOKYO, Japan — 2008 turned out to be an incredibly successful year for Uniqlo — and Uniqlo alone. The Japanese media can no longer mention the mass retailer without using the word hitorigachi — meaning “sole winner” or “to reign supreme.” In a toxic retail environment, where most major apparel chains experienced 10-15 percent declines in same-store sales for December, Uniqlo finished the year up 10.3
Will Fashion Shows Survive The Economy? (WSJ) Runway shows are expensive ventures, and this upcoming Autumn '09 collections, designers may consider cheaper alternatives for presenting their collections. Uniqlo considers UK acquisitions (Drapers) Uniqlo, the Japanese fast fashion chain, is looking for acquisitions in the US and the UK. Beyonce [Hearts] Thierry (WWD) "Thierry Mugler is is diving — or rather, dancing — back into fashion via an ambitious collaboration with Beyoncé Knowles." S.I. Newhouse on Anna Wintour Speculation: “Silliest Rumor I Ever Heard” (WSJ) The recent reports of Carine Roitfeld replacing Anna Wintour at American Vogue are "silly" according to S.I. Newhouse. Runway show, photo courtesy of the New York Times.