Inditex Q1 loss, Net-a-Porter profits treble, Bulgari issues bond, China may escape, Ferraris to Versace

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)

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Abercrombie shares tumble, Retail sales fall, Safilo open to bids, Giancarlo di Risio to step down

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

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Burberry to London, M&A steers clear of luxury, Versace contemplates a new future, Aquascutum talks to YGM

Burberry S/S 09 ad campaign, courtesy of Burberry

Burberry Prorsum to show at London Fashion Week (Catwalkingqueen) “Christopher Bailey will bring the label’s 2010 spring collection to town to celebrate the 25th anniversary of LFW and the British Fashion Council. This will be followed by a special event hosted at Burberry’s brand spanking new headquarters.” M&A passes luxury brands by (FT) “The downturn in the luxury goods industry is the worst in

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Versace loses CEO, Lanvin posts profit, Portfolio.com returns, New Look’s new front man

Donatella Versace and Giancarlo di Risio, courtesy of the Wall Street Journal

Bucked by Designer, Versace CEO Eyes Exit (WSJ) “Gianni Versace SpA Chief Executive Giancarlo Di Risio is expected to resign, a person familiar with the matter said, after months of clashes with lead designer Donatella Versace over how to cut costs at the Italian fashion house.” Lanvin Posts Profit, Sales Gain 29 Percent (WWD) “Lanvin, fueled by the creativity of Alber Elbaz, can face the economic crisis “in

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Luxury’s breaking point, Versace’s loss, Blass hires, Topshop goes West, Richemont revives

Luxury’s Breaking Point (CNBC European Business) “MasterCard SpendingPulse reported luxury goods was the worst hit category in the final two months of 2008, with year-on year sales nosediving 34% between 1 November and 24 December in the US.”  Versace Profits Fall 30 Percent (WWD) Versace feels the effects of the downturn with a 30 percent decrease in net profits. (Subscription required) Bill Blass is Hiring

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IHT Supreme Luxury: Interview with Donatella Versace

Every 6 months during the fashion weeks held in New York, London, Milan and Paris, fashionistas grab the International Herald Tribune each morning and skip straight to the Style section to see what Suzy Menkes has said about the collections. It's a running joke that fashion people buy the IHT, read Suzy's reviews, and throw the rest of the newspaper out. This does not speak to the poor quality of journalism in the IHT, but rather to the high level of respect accorded to Ms. Menkes. Quite simply, there is no other fashion critic like her. This week, Suzy is hosting the annual IHT luxury conference in Moscow, with keynote speakers like Bernard Arnault, Tom Ford and Yves Carcelle of…

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