Chinese are up to speed with life in the fast lane (LA Times)
"Companies obsessed with China a few years back for its flagrant counterfeiting now see it as their most promising customer, especially at a time when so many other nations are scrimping. Gucci's sales in China in the first half of 2011 were up 39%;Bottega Veneta's more than 80%. Prada plans to open 50 shops over the next three years."
Russians boost sales at Selfridges (FT)
"Spending by Russians reached record levels at Selfridges, the London department store owned by Galen Weston, in the run-up to the Russian Orthodox church’s official Christmas day, celebrated on Saturday, January 7."
The consignment business booms with second-hand luxury (The National)
"While most retailers have yet to recover from the recession, used luxury handbag businesses are thriving. Reema Al Khomeiri, founder of Toujours Chic, launched her second-hand purse business in 2009 - in the midst of the global downturn - but she isn't complaining. Almost three years later, her venture has flourished, with hundreds of loyal customers. 'The recession has definitely whipped us into being disciplined and responsible buyers,' she adds."
Fashion Bookmarking Site Wantworthy Raises $860K (BetaBeat)
"Good things come to those who wait, a few months at least. Wantworthy, the fashion bookmarking site that graduated from TechStars New York’s second class in October, has raised at least $859,998 towards a $999,999 equity round, according to the company’s Form D filing with the SEC."
Rise: Narelle Dore (Dazed Digital)
"Just after finishing her studies in Fashion and Textiles in Australia, moved to Belgium to intern at Beirendonck and to study at the Antwerp Academy. Now with her own label set up and a blog project that features other designers and even chefs, she will be presenting her new collection and pieces in woollen macrame, especially made for Amsterdam Fashion Week, at the end of the month."