Zac Posen Backstage | Source: NY Times

The Trials of a Former Boy Wonder (NY Times)
“There was a time when brashness was a refreshing change in New York fashion, which had been dominated by a handful of aging mega-brands until Mr. Posen planted his flag in the biggest, most expensive tent in Bryant Park. But his extravagant success came so quickly…  that his setbacks echo all the more loudly.”

Polo Ralph Lauren profit rises as it warns of Asia hit (Market Watch)
“Polo Ralph Lauren Corp. reported a better-than-expected 5.5% increase in its fiscal third quarter profit… still investors looked beyond that to focus on what the company’s investment in Asia would mean for its fourth-quarter profit.”

Prosecutors Ask Insolvency For Burani Holder (WSJ)
“Troubled Italian apparel maker Mariella Burani Fashion Group SpA faced a new challenge Monday as prosecutors in Milan asked for insolvency proceedings to begin for one of its key shareholders.”

W Hotels to Name a Fashion Director (WSJ)
“Putting a new spin on the term “designer hotel,” boutique chain W Hotels is hiring a fashion director to amp up its style credentials and its profile within the fashion industry.”

TV’s baddest boss is back (CNN)
“Despite its moniker, reality television has rarely been intended to give you the real story. It deals in characters (sometimes caricatures) and is usually edited to prove a point. In the case of Kelly Cutrone, however, what you see is what you get.”

Tom Ford's Ultra-Luxe Alligator Luggage | Source: Luxist

As Sales Vanish, Skins Stay on Alligators (NY Times)
“If alligator is still popular but is simply unaffordable… why are thousands of the reptiles sitting unwanted in Louisiana? And why have prices for the raw product dropped so low? He says Hermès is hoarding the skins, forcing other fashion houses to pay dearly and leaving the farmers with few other options.”

US shoppers discount driven on Black Friday (Drapers)
“US retail sales on Black Friday, the post Thanksgiving shopping day in the States, were marginally ahead of 2008, but shoppers were out looking for bargains and did not spend on full price goods or luxury items.”

Selfridges heads for £100m profit in centenary year (Drapers)
“A strong start to Christmas trading has been the icing on the cake for department store group Selfridges, which said its profits would bust the £100 million market in this, its 100th year of trading.”

Zac Posen to design Target line (New York Magazine)
“Posen has a new strategy to reach an even wider consumer base than he might with the $78 T-shirts from his lower-priced “urban hipster” Z Spoke line: a Target collection, yet another increasingly common business strategy for young (and old) designers in these times.”

Comité Colbert Adds Five New Members (FWD)
“The Comité Colbert has added five new members, the first time France’s leading luxury industry group has added so many brands at once. Notable from the world of fashion, the Comité Colbert rolled out red carpet to Pierre Hardy, the most acclaimed French shoemaker of his generation.”

Gucci Facebook Page | Source: Facebook

Luxury Brands and the Case for $4,000 Sunglasses (IHT)
“Imran Amed, who runs a Web site called The Business of Fashion, said that two years ago, when he started urging big luxury brands to embrace social networking as a communications tool, executives of these companies told him the idea was ‘stupid.’ He is getting a lot less of that these days.”

Zac Posen’s New Venture (WWD)
“Z Spoke is a new vocabulary for Posen, and the keyword is sportswear. ‘I think it’s going to surprise people,’ says Posen, who describes the 60-piece range, which is strong on separates such as knits, cotton shirting, blazers and pleated khaki shorts, as ‘minimalist and utilitarian.’”

Luxury Stores Trim Inventory and Discounts (NYT)
“All around Saks Fifth Avenue, merchandise is sold out. The $2,520 Marni shearling vest? Gone. The $5,295 Brioni leather bomber jacket? Only one left. The $1,995 over-the-knee Christian Louboutin boots? ‘All gone, except for this,’ said Nick Passerelli, a Saks employee, dangling a size 11 boot from his fingers.”

Will the high street scuff Jimmy Choo’s image? (Times)
“That does not solve the branding problem. If your business is selling trinkets (or shoes) to the truly rich and vulgar, does it make sense to market a range that tells the buyer that her wealth is, frankly, a bit juvenile. Or that her shoes are junior Choos?”

The Illusion of Brand Control (Harvard Business Review)
“You’ve probably heard by now that “your brand is no longer yours.” The assertion’s based on simple math. In the era of blogs, discussion boards, Facebook, Twitter, and other Web 2.0 tools, virtually everyone can get online and talk about your company and its offerings. As a result, the amount of information your marketing and PR departments can generate is only a small percentage of the total volume of content on the Internet about your firm.”

Prada S/S 2009 campaign photographed by Hedi Slimane, courtesy of Prada

LONDON, United Kingdom — At the Luxury Briefing Conference held in London last month, Claire Kent, former Morgan Stanley analyst and current luxury goods consultant, spelled out her thoughts for the future of luxury.

“Regardless of the credit crunch there was growing fatigue about luxury brands,” she said. “People want a redefinition of luxury. People don’t want to be buying the same brands as the people they have working for them.”

So, what are the key elements of the new luxury?

… Continue Reading

Following his blowout 3-day fashion fiesta in Rome earlier this summer, WWD is reporting today that Valentino and his longtime business partner, Giancarlo Giammetti, will both step down from their positions at Valentino after this season. Finally, the fashion industry’s rampant speculation about Valentino’s future role in the post-Permira world will come to an end. But, this will only make more room for the other question on everyone’s lips: Who will replace Mr. Valentino?

Zac Posen and the designers behind Proenza Schouler (which was recently injected with $3.7m of funding from Valentino Fashion Group) are amongst the names being tossed around. Over at Fashion Inc the money is on Proenza Schouler. Others are saying that Alessandra Fachinetti, the former womenswear designer at Gucci, is at the front of the pack.

… Continue Reading