HK's Esprit buys $500M JV stake in China push (Reuters)
"Hong Kong fashion retailer Esprit Holdings is buying out its partner in a Chinese retail joint venture for HK$3.88 billion ($500 million) as part of a drive to expand in the world's third largest economy. The deal will see Esprit take full control of the 10-year-old venture, while China Resources Enterprise, which is selling the stake, will focus on its core businesses."
Neiman Enlists Designers in Cost-Cutting Plan (WSJ)
"Burton Tansky, the 71-year-old rag-trade journeyman who has led Neiman Marcus Group for nearly a decade, is quietly refashioning the upscale department store chain for an age of belt-tightening and less conspicuous consumption. Mr. Tansky, Neiman's chairman and CEO, is pressing suppliers to produce lower-priced versions of designer styles, a stark reversal for a chain long labeled 'Needless Markup' by more frugal-minded shoppers."
Fashion boss who hired Lindsay Lohan leaves Ungaro (Reuters)
"Mounir Moufarrige, president and chief executive of French fashion house Emanuel Ungaro, has resigned just over two months after a widely panned collection by American actress Lindsay Lohan. Ungaro said in a statement on Wednesday that Moufarrige would continue to advise the company, which has gone through several stylists and two chief executives since couturier Emanuel Ungaro retired in 2004."
Madonna does the dishes (Telegraph)
"But the pop star has not let her glamourous image slide, the pictures are acutally part of a photo shoot to promote the Dolce & Gabbana spring/summer clothes campaign.Madonna takes on the role of housewife for the campaign, in which she is also pictured preparing vegetables and tucking into a plate of pasta with her hands, sat on top of a kitchen work surface."
Dsquared2's Caten twins launching into limelight (AP)
"The twin-brother team behind the fashion label Dsquared2 are on TV and the radio, they created concert costumes for Madonna and Britney Spears, and they'll be outfitting the headlining performers at the opening and closing ceremonies at the 2010 Winter Olympics... But any time it seems success might go to their heads, they remember their modest Canadian roots and have a good chuckle."