China’s Shoppers Sling a Gucci ‘Lifeline’ to Faltering Hong Kong (Bloomberg)
"A stream of customers in Tsim Sha Tsui’s Canton Road yesterday carrying bags of Vivienne Westwood, Gucci and Burberry brand products and speaking in Mandarin, showed that a $350 billion decline in the value of stocks in China since mid-April has failed to kill off the tourist trade. Their spending may help to limit what Morgan Stanley and Daiwa Capital Markets say is set to be a second straight quarterly contraction in Hong Kong’s economy."
PVH posts Q2 profit beats estimates, shares up (Reuters)
"Clothing maker PVH Corp posted a quarterly profit above estimates as its major growth drivers, the Tommy Hilfiger and Calvin Klein brands, stayed popular with shoppers, prompting the company to raise its full-year forecast... Revenue at Calvin Klein rose 19 percent, while at Tommy Hilfiger revenue saw an increase of 30 percent."
Hermès posts 37 percent rise in operating profit (Reuters)
"French luxury group Hermès posted a 37 percent rise in first-half operating profit, driven by the United States and China, and reiterated its sales and margin goals for the full year. Operating profit reached 418.1 million euros in the first six months of the year, Hermès said in an announcement."
American Apparel investors to offload shares (Just Style)
"A group of private investors is looking to sell its shares in American Apparel, just months after giving the troubled chain a US$15m lifeline. The investors, led by Canadian financier Michael Serruya and Delavaco Capital, are seeking to sell the 43.2m shares in a secondary offering, which means that American Apparel will not get any proceeds from the sale."
Alexander McQueen: Savage Beauty coming to the UK? (Telegraph)
“It seems that Alexander McQueen is continuing to make waves almost 18 months after his death. The designer, who broke all the rules of the fashion world, yet won the hearts of it’s harshest critics, has been the subject of a petition gaining thousands of signatures to bring his retrospective to London… Only now have McQueen’s representatives confirmed that they are in talks with major museums.”