Versace closes in Japan, Legal fashion, Parisians queue for Uniqlo, High street exploitation, Retail deflation

| Daily Digest

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

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Copying Rick Owens, Burberry looks to USA, Versace quits Ittierre, Girl Next Door, Topman inspires

| Daily Digest

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

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Bonkers London Fashion Week, Christopher meets Donatella, TK Maxx prospers, Polyvore investors, Grocery chic

| Daily Digest

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

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

| Daily Digest

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

| Daily Digest

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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