Barneys New York Spring/Summer 2010 | Source: Barneys

Burkle Angles for Controlling Stake in Barneys (WSJ)
“Billionaire Ronald Burkle is angling to take a controlling stake in Barneys New York, people familiar with the situation said, a bet that the company and battered luxury retail sector have seen the worst of the recession.”

Bloomingdale’s opens in Dubai (The National)
“From today, people in Dubai will be able to indulge in the magic of Bloomingdale’s as the American department store ventures outside the US for the first time in its 138-year history.”

Versace’s New Look (WSJ)
“At the House of Versace, Donatella is back in the saddle again. She now signs off on every leather bag, dinner plate and evening gown… With the House of Versace facing the toughest times since it flirted with bankruptcy in 2004, the family must now steer the company through the current crisis in luxury goods.”

Fluff flies as fashion writers pick a cat fight with bloggers (Independent)
“Enthusiasm has waned for bloggers such as Tavi Gevinson, the 13-year-old wunderkind who waltzed into the front row of the biggest catwalk shows, as former fans complain bloggers have been ‘bought off’ by the industry.”

Davos 2010: Gucci boss on the rise of the shrewd customer (BBC)
“Robert Polet, boss of Gucci group has said he has seen a shift in the way customers are approaching the purchase of luxury good… ‘People want to know does the promise you give as a brand really stands up’.”

Hermès Timeless Silk Twill Ties | Source: Hermès

It’s a Man’s World (Newsweek)
“Just as some educators believe that single-sex classrooms are better for learning, some luxury brands are finding that single-sex boutiques boost the bottom line. While it’s not exactly a man’s world on Main Street, luxury brands are increasingly offering greater exclusivity in men-only shops.”

Versace Agrees on Job Cuts, Unveils Lower-Priced Women’s Line (Bloomberg)
“Gianni Versace has signed a preliminary agreement with unions on job cuts in Italy and introduced a lower-priced women’s wear collection as part of a plan to return to profitability in 2011.”

H&M fashions hopes of revival (FT)
“The results suggested H&M could be turning the corner after a series of disappointing sales figures last year… Karl-Johan Persson, H&M chief executive, said the economic outlook remained uncertain but predicted same-store sales would increase in 2010.”

Despite Economy, Neiman Marcus Stays Glamorous (Brand Channel)
“‘We have no intention of changing our business model or trading down,’ chief executive Burt Tansky told Wall Street analysts on a conference call last month. ‘It’s important to reiterate that we will continue to offer our customers the luxury and designer merchandise that they want to buy.’”

Juicy Couture’s Founders Step Back (Fashionista)
“Juicy Couture’s dynamic co-founders Gela Nash-Taylor and Pamela Skaist-Levy are stepping down as creative directors.  There will soon be a new creative director—Nash-Taylor and Skaist-Levy will transition into creative consultant roles.”

Donatella Versace by Gilles Bensimon | Source: Elle

How Versace went from rags to riches—and back again (Newsweek)
“Donatella Versace, tiny, sculpted and forever blonde, was standing backstage after her menswear show at the Teatro Versace in Milan in June… it all felt feeble, pathetic—a sad, soulless charade to promote something that no longer exists.”

Luxury perfume houses are expanding (FT)
“Forget the lipstick index as economic indicator; in this recession, the most successful downturn beauty product is proving to be fragrance. While much of the luxury business has struggled over the past year, a number of high-end perfume businesses have been spritzing their way to success.”

Haute Couture, Available Through Netflix Model (NY Times)
“For many women, a $1,000 dress is something they admire in the pages of a glossy magazine or see draped on the frame of a celebrity — not an item hanging in their closet. But a nascent Web site called Rent the Runway is hoping to make high-end fashions much more accessible and almost as easy as renting a movie from Netflix.”

Hooray for Henry Holland (Guardian)
“Three years ago, Holland, then making his living as a fashion editor for teen magazines, started designing rhyming slogan T-shirts for his friends (sample: “I’ll Tell You Who’s Boss Kate Moss”) that rapidly became a fashion crowd in-joke.”

Fast Fashion is For Losers (PSFK)
“Apart from a few things from American Apparel and Uniqlo, oh and a knock-off Balenciaga riding hat from H&M, on the whole, there is a lot to lose from fast fashion.”

Versace Mini Cabriolet gearshift detail | Source: Cartype

Restructuring Luxury at Versace (NY Times)
“I am a survivor,” the designer Donatella Versace said matter-of-factly during a recent blitz of New York, a visit that made it appear little had changed in the world of the occupationally fabulous.”

Escada sells Primera brands (Drapers)
“Primera comprises brands Laurèl, Apriori and Cavita. Luxury German womenswear house Escada previously signed a contract to sell the three brands to investment fund Mutares AG in May but withdrew from it on Friday, citing problems with the closing of the deal.”

Matthew Williamson to Launch Menswear and E-Commerce (Elle)
“The British designer best known for his colorful collections chock full of prints, is creating his first-ever menswear line. The collection, which is due out in February, will be sold exclusively at Harrods and Matthew Williamson boutiques.”

India, China Seen as Fertile Ground for Own Luxury Brands (Khaleej Times)
“Europe’s creative heartland for top-end jewellery, watches and fashion could, in as little as 20 years, face a stiff competitive challenge from India, China and other developing countries, executives in the luxury industry say.”

Pakistan fashion week defies Taliban with non-Islamic dress (Telegraph)
“As Pakistan’s army battled religious extremists in South Waziristan, Karachi’s top designers sent models down catwalks with bare shoulders and exposed navels in an unusual display of skin in a country where most women cover up.”

Versace Atelier Autumn/Winter 09 | Source: Versace

Versace Cuts a Fourth of Its Work Force (NY Times)
“Versace Group, the fashion house based in Milan, said Wednesday that it would cut 26 percent of its worldwide work force and consolidate its operations as it targeted a return to profitability in 2011.”

Fashion’s Night Out on the calendar for 2010 (AP)
“ShopperTrak, an independent reporter of consumer traffic, estimated a 50 percent jump in retail foot traffic as stores held cocktail parties, offered makeovers, and hosted meet-and-greets with celebrities and designers.”

Tillman firm snaps up Koodos (Drapers)
“E-trader Group, a software development company founded by fashion entrepreneur Harold Tillman, has bought discount fashion e-tailer Koodos.”

China’s Street fashion (CNN)
“It’s a hot august afternoon in Beijing, and student Li Yanan is shopping with a friend at the Joy City mall, in the city’s Xicheng district. The mall offers plenty of Western brand-name stores… But Li, 20, is drawn to the only store displaying a large slogan printed in Chinese characters. Your own style, it reads.”

How jilted Carrie’s wedding became Westwood’s big day (Evening Standard)
“Sales of Westwood labels rose by almost a fifth last year to £17.6million after Sarah Jessica Parker’s character, Carrie Bradshaw, wore one of the designer’s gowns for her ill-fated wedding.”

Versace A/W 09 ad campaign | Source: Versace

Versace to Close Japan Stores, Will Review Strategy (Bloomberg)
“Gianni Versace SpA will close its Japanese stores and review its entire business strategy, as demand for luxury goods declines in the world’s second-largest economy.”

Developing their fashion sense (Globe and Mail)
“New York Fashion Week, a semi-annual sea of runways under tents in that city’s Bryant Park, is one of the last places you’d expect to see lawyers from a Bay Street firm. Yet that’s exactly where Len Glickman and his team from Cassels Brock & Blackwell LLP make a point of mingling with the world’s fashion heavyweights.”

Parisians Waiting in Rain to Fuel Uniqlo’s Growth (Bloomberg)
“While celebrities watched models strut down catwalks during fashion week in Paris, dozens of people queued in the rain to buy 40-euro cashmere sweaters at the newly opened Uniqlo store in the city’s Opera district.”

High street brands accused of exploiting Asian workers (Guardian)
“High street British brands are being accused of exploiting factory garment workers in Asia by failing to pay them enough to live off in a report published today.”

Clothing and footwear deflation increases to 5.7% (Drapers)
“Shop prices have fallen on a year ago and were deflationary for the second consecutive month, according to the British Retail Consortium-Nielsen Shop Price Index.”

Imitate That Zipper! (New York Times)
“In recent months, a veritable industry has sprung up around [Rick] Owens, who may be fashion’s most imitated designer. Rival houses are racing to produce their own distillations of his angular flaps, zigzagging zippers, gossamer T-shirts and biker jackets pliant as second skins.”

Burberry May Speed U.S. Growth Amid Deals on NYC, Indiana Space (Bloomberg)
Burberry may accelerate plans to open U.S. stores as premium shop space becomes available at cheaper prices. “Spaces we thought may not have been available a couple of years ago are available now,” said Stacey Cartwright, CFO.

Versace ends licence deal with IT Holding unit (Reuters)
“Italian fashion house Versace has ended its licensing deal with IT Holding unit Ittierre — currently in special administration — for the production and distribution of its VJC and Versace Sport lines, it said.”

Girl-Next-Door Looks Come Back Into Fashion (Wall Street Journal)
“In Weak Economy, Magazines and Design Houses Play It Safe, Replacing Edgy Models With ‘Classic’ Beauties.”

Top Marks for Topman (Guardian)
“Topman has come a long way from being Topshop’s uncool little brother – these days it leads the way in menswear, with top designers watching closely.”

Christopher Kane's nuclear Cruise Collection 2010

London Fashion Week going to be bonkers (Telegraph)
Sarah Mower reports that “the British Fashion Council’s biggest problem is finding enough room on the schedule to accommodate everyone hammering on the door. But as problems go, it’s a nice one to have.”

Donatella Versace on fashion and celebrity (Times)
Christopher Kane interviews Donnatella Versace and learns that she finds “the excessive emphasis on finance that has infiltrated this world” the most boring thing about fashion.

Discount fashion: Taking it to the Maxx (Independent)
“While TK Maxx has attracted an expanding army of shoppers during the recession, it was growing robustly before the credit crunch as well. In fact, its business model and pricing architecture is radically different to that of rival discount fashion stores, notably Primark, New Look and H&M, which have also prospered during the downturn.”

Polyvore Raises Money for Do-It-Yourself Fashion Site (New York Times)
“Polyvore announced on Tuesday that it had raised $5.6 million in new capital and brought on a new investor, Matrix Partners, and a new board member from Matrix, Dana Stalder. That is on top of the $2.5 million it previously raised from Benchmark Capital and several angel investors.”

Boutique aimed at urban trendsetters (Financial Post)
“Loblaw Cos. is taking its Joe Fresh Style brand to main street, signing a deal to open an 8,000-square-foot boutique on Toronto’s trendy Queen Street West strip. This marks the first time the grocer has showcased its hit apparel line on a major retail strip and is a further indication it is vying to become the country’s biggest “cheap chic” clothing brand.”BB

Zara S/S 09 ad campaign, courtesy of Zara

Inditex 1Q Net Pft Down 16%; May Trading Resilient (WSJ)
“Inditex SA (ITX.MC), Europe’s largest fashion retailer by revenue, Wednesday said its first quarter net profit fell 16 percent on a slump in consumer spending in Europe, but its stock rallied after it reported resilient clothing sales in May and the first week of June.”

Net-a-Porter demonstrates strength of business model as profits treble (FT)
“According to accounts filed with Companies House, the privately held London- based business increased sales by 47.8 per cent to £81.5m in the 12 months to January 31.”

Bulgari to issue 130 mln euro bond (Reuters)
“Bulgari SpA plans to issue a 130 million euro ($183.4 million) bond, the Italian jewellery maker said on Wednesday. The bond would have a coupon between 5.25 percent and 5.75 percent and mature in 2014, it said in a statement.”

China’s Luxury Goods Market May Escape the Worst (Seeking Alpha)
“As the effects of the economic crisis ripple across the global economy and demand for expensive products plummets, luxury brands face gloomy prospects in North America and Europe. Except in China which saw 15 percent retail sales growth in Q1, consumer spending is in sharp decline as consumers retrench, look for value in their purchases and cut back on non-necessities.”

Versace appoints new chief (FT)
“Gianni Versace has named Gian Giacomo Ferraris, the luxury goods veteran who has led Jil Sander since 2004, as its new chief executive.”

Abercrombie & Fitch ad campaign, courtesy of Abercrombie & Fitch

Abercrombie & Fitch shares drop sharply (AP)
“Shares of Abercrombie & Fitch Co. tumbled Thursday after the teen retailer posted a bigger-then-expected drop in same-store sales for May. Its stock shed $3.56, or 11.3 percent, to $28.12 in midday trading.”

Across Low and High Ends, Retail Sales Fell in May (New York Times)
“While there have been early signs of stabilization, including improving consumer confidence, concerns over unemployment and the troubled housing market have led many Americans to adopt thriftier behavior, spending on food and other everyday essentials and not much else.”

Offers for Safilo due on Friday – sources (Reuters)
One or more private equity funds will present offers for Italian eyewear maker Safilo SpA on Friday, two sources close to the matter said.

Chief Executive of Versace Is Expected to Resign Friday (New York Times)
“Giancarlo di Risio, chief executive of Gianni Versace since 2004, is expected to resign at a board meeting on Friday in Milan.”