Fast Retailing sets sights on US expansion (FT)
"Fast Retailing is poised to expand aggressively in the US, where it is opening its largest Uniqlo store on Friday, as part of its plan to globalise operations rapidly and reduce dependence on its home market... Fast Retailing, which made its name selling high quality, affordable, casual clothes, is accelerating its overseas build-up, with plans to open 200 to 300 stores globally each year for the next several years."
Nike eyes $4 billion in China sales by 2015 (Reuters)
"Sports apparel maker Nike Inc has set a target of boosting its annual sales in China to $4 billion by 2015... The sportswear company had sales in China of about $2.1 billion last year, according to a market research firm cited by the Journal. In its fiscal first quarter ended Aug. 31, Nike reported China sales of $528 million."
Is China’s elite looking for more ‘exclusive’ luxury? (Red Luxury)
“The upper echelons of society are getting a little more exclusive. Even in these demure economic times, luxury consumers need more than money to set themselves apart: patience and good taste are now more important in determining what’s haute and what’s not… The new frenzy of buying what is not just expensive but highly exclusive is being called hyperluxury…Much of Europe’s hyperluxury sector is being devoured by China, one of the fastest-growing emerging markets.”
Liz Claiborne to sell several brands, change name (Forbes)
"Financially struggling Liz Claiborne Inc. said Wednesday that it is selling its namesake brand and several others to concentrate on its Juicy Couture, Lucky Brand and kate spade fashion plates... Liz Claiborne is the latest company to adjust its business as the U.S. consumer market bifurcates into the high and low ends, essentially squeezing out the middle."
Jean Paul Gaultier: From the catwalk to the big screen (Independent)
"It is 40 years now since Gaultier was talent-spotted by Pierre Cardin. The young would-be designer from the provinces (he was born in Arcueil) has come a very long way... Khelfa's film is one of an increasing number of documentaries and dramatic features set in the fashion world. Whether Valentino: The Last Emperor or The Devil Wears Prada, Gaultier has watched most of them. However, he has mixed feelings about the way the camera has captured his professional world."