You can find the correct answer and detailed explanation for each question immediately following the question (simply highlight to read), along with all the answers at the end of the quiz. Good luck!

Question 1: What is name of Comme des Garçons' second line?

a. Comme
b. CDG
c. Comme by Garçons
d. Comme des Garçons Comme des Garçons

Answer 1: Choice (d) is correct. "When we did a second line for Comme des Garçons we deliberately made the title longer — Comme des Garçons Comme des Garçons — because it wasn't a diffusion line, it was an extension: the thing that comes off the real thing, so you keep the spirit. The concept behind it is not lesser than the first Comme des Garçons line," Adrian Joffe, president of Comme des Garçons.

Question 2: Louis Vuitton realized a $3.5 billion gain this week. What did it sell?

a. Its stake in Hermès International
b. Its stake in Givenchy
c. Its stake in Gucci
d. Its stake in Christian Dior

Answer 2: Choice (a) is correct. LVMH Moet Hennessy Louis Vuitton SA, the largest luxury-goods company, booked a 2.81 billion-euro ($3.5 billion) capital gain after distributing its 23 percent stake in Hermès International to investors.

Question 3: Who said, "Social media is the canary in the coal mine. It is the mirror into which many companies look but see nothing looking back"?

a. Liz Sephton of Vivenne Westwood
b. Grant Van Sant of Osso
c. Christopher Bailey
d. Fashion blogger Gogoboi

Answer 3: Choice (b) is correct. "Social media is the canary in the coal mine. It is the mirror into which many companies look but see nothing looking back. This should spur a brand identity crisis, a furious struggle to recapture and restate the value that brought your company into existence in the first place," said Grant Van Sant, brand strategist and founder of Osso.

Question 4: In 2013, womenswear grew at 4 percent. Which category grew at 5 percent in 2013?

a. cosmetics and perfume
b. athletic sportwear
c. menswear
d. denim

Answer 4: Choice (c) is correct. In 2013, the total menswear market grew by roughly 5 percent, about 1 percent point more more than womenswear .

Question 5: Who is the new creative director of Puma?

a. Nicholas Kirkwood
b. Rihanna
c. Jay-Z
d. Christian Louboutin

Answer 5: Choice (b) is correct. Rihanna has been named creative director of Puma, overseeing the direction of the womenswear line, and will join famous sportsmen including Usain Bolt and Mario Balotelli as a brand ambassador.

Question 6: Who said, "Customers are aware if a diffusion brand doesn't have integrity and the collection is just really a money earner on the side"?

a. Lydia King of Selfridges
b. Geoffroy de la Bourdonnaye of Chloé
c. Stefano Gabbana
d. Domenico Dolce

Answer 6: Choice (a) is correct. What is increasingly clear is that watered down versions of main lines no longer convince consumers to buy. "Customers are aware if a diffusion brand doesn't have integrity and the collection is just really a money earner on the side," said Lydia King, womenswear buyer at London-based department store chain Selfridges.

Question 7: Sporting products generally have _____ margins when compared to luxury goods.

a. lower
b. higher
c. equal
d. average

Answer 7: Choice (a) is correct. Mario Ortelli, an analyst at Sanford C. Bernstein, is skeptical about Kering owning a maker of sporting products, which have much lower margins than luxury goods.

Question 8: Who owns Christie's International?

a. Burberry
b. Louis Vuitton
c. Artémis
d. Prada

a. Marc Jacobs and Michael Kors
b. Calvin Klein and Coach
c. Calvin Klein and Marc Jacobs
d. Michael Kors and Coach

Answer 9: Choice (d) is correct. Michael Kors projects its men's business will generate $1 billion in revenue by 2017. Victor Luis, the CEO of Coach, says its men's business also aims to generate $1 billion in revenue by 2017.

Question 10: Fashion group Gerry Weber ranks in the top 100 of the world's largest fashion firms. What is the nationality of Gerry Weber?

a. Swiss
b. Dutch
c. German
d. French

Answer 10: Choice (c) is correct. German fashion group Gerry Weber ranks in the top 100 of the world's largest fashion firms, along with Hermès and Prada.

Answer Key: 1. (d) 2. (a) 3. (b) 4. (c) 5. (b) 6. (a) 7. (a) 8. (c) 9. (d) 10. (c)