BOLOGNA, Italy — Yoox Group, the operator of e- commerce stores for brands from Armani to Zegna, maintained its outlook for full-year revenue and earnings growth after investments in mobile technology helped boost quarterly sales.
ISTANBUL, Turkey — Social unrest in Turkey and Brazil is making it harder for luxury-goods makers to keep shoppers spending in a difficult economy, according to Ermenegildo Zegna.
Frida Giannini: Gucci’s Shanghai express (Telegraph) “Gucci’s first two shops on the Chinese mainland opened in Beijing and Shanghai in 1997, three years after Tom Ford started to transform the brand. Today there are 53 stores across 33 cities, and counting. So it is not surprising that Giannini has decided to spend some time getting to know Shanghai before continuing on to Seoul in South Korea for a store opening
LONDON, United Kingdom — The Savigny Luxury Index (SLI) lost 6.9 percent in September, underperforming a flat-ish MSCI World Index (MSCI) by nearly seven percentage points. Burberry’s profit warning sent the sector into turmoil mid-month and no amount of good news from the likes of Prada and Michael Kors could lift investors’ spirits. Big news Burberry announced a substantial slowdown in sales growth, with same store sales
Next Step for Labels: Cyber-Boutiques (IHT) “The ultimate challenge for all luxury brands is to go digital — without losing their key attributes of individuality and identity. Yet click onto almost every big name fashion Web site and while the product offering might be tempting, the experience is often bland and only two-dimensional. The success of Net-a-porter.com and of its witty masculine version, Mrporter.com, is the
Bling is back (The Economist) “The strength of the recovery was a surprise…. Big brands such as Louis Vuitton and Hermès are the main winners. With their deep pockets, they were able to continue to open new shops and invest in the business during the crisis.” Zegna Sees Sales, Profit Growth (Bloomberg) “Sales will grow ‘well above 10 percent’ this year, led by Zegna’s biggest market of China and
Needle and Thread Still Have a Home (NY Times) “How is the garment district like a coral reef? A coral reef, as Animal Planet instructs us, shelters diverse species of sponges, snakes, clownfish and barracudas. So does the garment district.” Why Does This Pair of Pants Cost $550? (NY Times) “Even in a season when designers made no secret about reining in prices… it is still possible to walk into a store and
Sarah Jessica Parker partners with Halston (Times) “Sarah Jessica Parker and Halston may be banking on fashion sequels: The storied designer label reportedly has hired the “Sex and the City” star in a creative role for its newly announced Halston Heritage collection.” Burberry beats forecasts as luxury goods come back into fashion (Guardian) “Recession or no recession, it seems luxury goods are on the
Aquascutum puts entire workforce into consultation (Drapers) “Aquascutum has put its entire workforce into consultation, fueling speculation about the future of the luxury heritage brand.” Italy’s Zegna sees lower profits in 2009 (Reuters) “Italian luxury men’s suits maker Gruppo Ermenegildo Zegna forecast lower profits this year after a 20 percent drop in net profit excluding an extraordinary item for
Adidas issues profit warning (Drapers) “Pre-tax profits at the Adidas group sunk by 97% to just €5 million (£4.4m) in the first three months of 2009. Currency-neutral group sales fell 6% to €2.58 billion (£2.28bn), compared to €2.62bn (£2.32bn) in the first three months of 2009.” The Sui Target (Vogue UK) “ANNA SUI has become the second designer to participate in discount retailer Target’s Designer