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