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| October 2005 »
September 30, 2005
Gucci Tamed?
Frida Giannini put on her first major runway show in Milan this week since taking over from Tom Ford at Gucci. Her pieces received mixed reviews from style mavens, some of whom complained that the clothes were “too tame.”
Some of her choices, like tea dresses, floral blouses and cashmere polos, didn’t do much to spark Gucci’s trademark desire, but Giannini insisted that they would attract the modern young woman.
If Gucci still spells glamour the style house is definitely leaning more toward Ingrid Bergman than Mae West.
Posted by Blacks at 04:27 PM | Comments (0)
September 29, 2005
Women's Fashion Flash
Reports from our merchants indicate that women’s blazers are currently flying out the doors. Suede and mini cord fabrics in ‘dusty’ colors are the look of the day, with chocolate proving the most popular shade.
Blazers are also doing well in printed fabrics with embellishments. The blazer look may turn into one of Fall’s hottest trends.
We are also hearing rather alarming reports that gauchos are hot with ‘sloppy’ sweaters. We haven’t singled out the ‘80s look as a trend for this season, but we may have to reconsider if this keeps up.
Posted by Blacks at 12:33 PM | Comments (0)
September 28, 2005
Consumer Confidence Falls Sharply
Consumer confidence plummeted in September, reaching its lowest level in nearly two years, according to a leading indicator. The Conference Board’s Consumer Confidence Index fell from 105.5 in August to 86.6 this month.
Concerns over the damage wrought by Hurricane Katrina, high energy costs and slow job growth are weighing heavily on the minds of consumers, the Conference Board said.
The group expects confidence levels to rebound later this year or by early 2006 as rebuilding efforts and job growth gains momentum.
Posted by Blacks at 03:52 PM | Comments (0)
September 27, 2005
Luxury Goods 'Made in Serbia'?
‘Made in Italy’ is becoming a scarce designer tag as high-fashion shops continue to move production of luxury items to developing markets, according to an investigation published Tuesday.
Opulent brands such as Valentino and Gucci are tip-toeing into emerging markets to stitch items from suits to sneakers, the Wall Street Journal reports. Louis Vuitton group’s Celine unit is already making some handbags in China, including its $500 Macadam bag, according to the Journal.
Tags that read 'Made in Egypt' and 'Made in Serbia' may become more familiar to consumers as designers increasingly take advantage of the cost savings and labor markets in these countries. In their defense, some designers say that it doesn’t really matter where the items are made, and that tailors and seamstresses in their home countries are now hard to come by.
It remains to be seen whether consumers squawk at paying $1,800 for a Valentino suit made in Egypt.
Posted by Blacks at 12:12 PM | Comments (0)
September 26, 2005
Report: Wal-Mart Weighs Hilfiger Buy
Retail giant Wal-Mart is reportedly considering a buy of Tommy Hilfiger, according to Women’s Wear Daily. The industry bible posted an article on the possible deal on its Web site Monday, driving shares of Tommy Hilfiger up over 4 percent.
WWD cited industry and financial sources but neither of the protagonists has confirmed the bid.
If Wal-Mart takes on the brand it will be interesting to see how the Hilfiger line evolves and if it will go even more mainstream. The Americana designer recently added an option to its Web site allowing shoppers to design their own jeans and chinos.
Posted by Blacks at 10:32 AM | Comments (0)
September 23, 2005
Just In - Women's Trends
Our analysts are out in the field and womenswear reports are flooding in. The bottom line: skirts, skirts and more skirts. These items are ultra feminine, featuring prints and embellishments. The fabrics are linen and linen blends, chiffon and crinkle. Also, as much as it pains us to say it, we are seeing long shorts, or gauchos.
Tops come in knits and patterns and we’re also seeing tunics in solid color voiles with embellishments.
Jackets are short and cropped in stretch cotton and linen blends.
Posted by Blacks at 02:42 PM | Comments (0)
September 22, 2005
EU Hits China with Textile Duties
The European Union has decided to levy anti-dumping duties on some finished polyester filament fabrics from China in a move aimed at protecting its internal market.
The duties range from 14.1% to 56.2% and will last for 5 years.
A spokesman for the China Textile Industry Council has been quoted in local press as saying that the 56.2% duty will effectively put an end to the exportation of affected products.
U.S. authorities are also currently scrutinizing China’s textile exports. The U.S. textile industry is pressing the government to impose quotas on items such as wool suits, polyester filament and synthetic fiber coats, saying that the Chinese goods take a swipe at U.S. apparel manufacturing jobs.
Chinese apparel exports to the U.S. have surged by an average of over 600 percent in the last 7 months, according to some U.S. textile industry groups.
Posted by Blacks at 01:16 PM | Comments (0)
September 21, 2005
Chanel, Burberry Cut Moss
The bad news continued to snowball for model Kate Moss on Wednesday when luxury brands Chanel and Burberry joined H&M in yanking her endorsement contracts after pictures of her allegedly doing cocaine were published in a British tabloid.
Decisions to cancel multi-million dollar deals with the world-recognized waif underscore the necessity the companies saw in protecting their brand images.
Posted by Blacks at 09:47 PM | Comments (0)
London Fashion Week
All eyes are on the British capital as fashion forward designers display their wares during London Fashion Week. Military styling, preppie fashions and opulent details, such as beading and stitching, have all been seen strutting up and down the runways. Craft-inspired pieces featuring knit and crochet have also been spotted as emerging trends.
The show has historically been a key venue for a new generation of designers. Now well-known names, such as Alexander McQueen, got some of their first exposure during London Fashion Week and scrupulous fashionistas will be monitoring the runways for the next hot influence.
Posted by Blacks at 09:13 PM | Comments (0)
September 20, 2005
Escada Founder To Retire
In yet another major leadership change atop a luxury brand, Escada founder and CEO Wolfgang Ley announced this week that he will be leaving his post on January 31, 2006. The position of CEO will be filled by company veteran Frank Rheinboldt, 39, who is currently CEO of the group’s Primera business.
The ascendance of Rheinboldt, who has been with the company for 15 years, will ensure a smooth succession of leadership, according to the German company.
Ley, age 67, will continue to promote the company as “Founder and Creative Chairman of Escada Group.”
Posted by Blacks at 11:41 AM | Comments (0)
September 19, 2005
Study: In-Store Marketing Most Influential
In-store print and point-of-purchase information do more to influence consumers' apparel buying decisions than direct marketing or TV ads, according to a recent study.
Some 52.6% of people surveyed by market research firm Decision Analyst said that in-store materials had the most influence on their buying decisions, while 23.9% said that print advertising was the most effective in shaping their final purchasing decisions.
Meanwhile, 15.8% of respondents cited ‘word of mouth’ as a top influencer, and 14.1% named TV ads. Just 8.4% pointed to direct marketing as the most influential.
Posted by Blacks at 03:07 PM | Comments (0)
September 16, 2005
Hermès Head To Step Down
After decades at the helm, Hermès artistic director and CEO Jean-Louis Dumas announced last night that he was stepping down from his posts at the luxury brand. The role of artistic director will be split between his son and niece, and current co-CEO Patrick Thomas will be the sole proprietor of the chief executive title when Dumas departs in January.
Dumas is credited with much of Hermès success in stamping a coherent brand image across a disparate product line. He has also steered the iconic brand to profitability; it reported a 12-percent profit increase for the first-half of this year, thanks in large part to strong sales of its scarves and Gaultier fashions.
Posted by Blacks at 12:49 PM | Comments (0)
September 15, 2005
August Sales
August sales figures are in and although slightly softer than expected, they managed to withstand concern over rising energy costs to post moderate gains. U.S. retailers reported a 3.6 percent spike in sales for August, according to the International Council of Shopping Centers. The ICSC forecast a 4 percent gain for the month, but energy costs and unseasonably warm weather served to cool the market somewhat.
The luxury market fared much better, however, posting 7.3 percent gain in August, according to the ICSC.
The U.S. Commerce Department released its own figures, citing a 1-percent gain in retail sales last month, excluding autos. Meanwhile, inventories have been falling, according to the Fed. This could lead businesses to increase production in the fourth-quarter to rebuild stockpiles, it said.
Posted by Blacks at 11:11 AM | Comments (0)
September 14, 2005
Early Season Trends
After working with several high-end men's stores this month our analysts are seeing a clear early trend. Sportcoats are blowing out of the shops with double-digit increases. Many merchants are already reporting product shortages. Hot labels include Armani, Zegna, Canali, Etro, and "Z".
Not to be confused with the Soft Jacket category that we have also seen growth in, this new trend is based around constructed shoulders.
The same merchants are also looking for more "non-linen" fabrics for Spring/Summer.
Posted by Blacks at 01:43 PM | Comments (2)
No Luxury Limits
There’s good news for the highest of high-end retailers at the Spring shows in New York this week. Early indications suggest that there is no price ceiling for luxury items, with show goers hungrily eyeing coats over $5000.
Designers such as Prada and Marc Jacobs have draped their runways with must-have items that appear to defy previous price barriers.
Although the U.S economy in general shows signs of strain, the worldwide increase in millionaires and a growing demand for luxury items among the population at-large keeps the market strong.
Posted by Blacks at 12:29 PM | Comments (0)
September 12, 2005
In the Bag
Blacks has noticed a trend in the luxury handbag market away from the ubiquitous LVs, Gs and Cs to high-end bags made by renowned apparel designers. In fact, the hottest bag right now is not a Louis Vuitton but a velvet number made by French label Lanvin. Marc Jacobs has also become popular among bag-toting fashionistas. Ladies who can afford the high-ticket items seem to already have enough consonant-clad bags and are opting for fresh designs.
Posted by Blacks at 04:14 PM | Comments (0)
September 09, 2005
Men in Vogue
The premier issue of Men’s Vogue hit the newsstands this month, indicating that today’s fine menswear market is good enough to go glossy. Condé Nast put George Clooney on the cover of its Fall 2005 issue, and the luxury vendors lined up to fill the ad pages.
Although the book is not as thick as the women’s fashion magazines for Fall, and has yet to build up the girth of rivals such as Details and GQ, its content appears more focused on the high-end. If Men’s Vogue gains anything like the following enjoyed by its sister womenswear bible, we’ll know that the luxury men’s market is on the move.
Posted by Blacks at 04:03 PM | Comments (0)
Gucci Gold
The Gucci Group reported Friday a 16 percent surge in profits for the first-half of 2005, citing strong demand for luxury goods. Gucci’s success served to boost results for its parent company, France’s PPR SA, despite a lackluster performance from some of the group’s lower-market ventures.
Gucci said that it has benefited from a balance between traditionalism and innovation, and from its expansion into Asian markets.
PPR said that its Yves Saint Laurent and Boucheron labels managed to narrow their losses in the period but exact figures were not released for the struggling brands.
Posted by Blacks at 03:41 PM | Comments (0)