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December 29, 2006
Consumer Confidence Surges In December
Consumer confidence made an unexpected rise in December, according to one closely watched measure. The Conference Board’s Consumer Confidence Index climbed to 109.0 from 105.3 in November, registering an 8-month high.
Despite the gain, economists expect the economy to show only modest growth in the last quarter of the year.
Posted by Blacks at 11:47 AM | Comments (0)
December 20, 2006
Producer Prices Climb In November
Wholesale prices for men’s apparel rose a seasonally adjusted 0.2% in November, while wholesale prices for women’s wear dropped 0.5%, according to Labor Department statistics.
Prices on men’s trousers took one of the biggest leaps, up 2.5% during the month and prices for knit shirts fell 1.2%.
The overall Producer Price Index (PPI) rose 2% in November, its highest monthly leap in over 30 years.
Posted by Blacks at 09:23 AM | Comments (0)
December 19, 2006
Van Cleef Shines In New Paris Flagship
Luxury jewelry retailer Van Cleef & Arpels has reopened its flagship store in Paris as part of its 100-year anniversary celebrations.
The 3,500-square foot store sits on the Place Vendôme alongside other high-end jewelry shops. The space has an elegant butterfly and dragonfly theme, echoing its well-known designs.
Van Cleef & Arpels has entered its 100th year with an eye on expanding its offerings in categories such as watches and high jewelry.
Posted by Blacks at 02:09 PM | Comments (0)
December 18, 2006
Zegna Appoints Gildo As Sole CEO
Zegna shareholders have appointed Ermenegildo “Gildo” Zegna as the company’s lone CEO, after he spent years sharing the title with his cousin Paolo.
Paolo will now serve as chairman of the Italian luxury brand. Industry watchers are speculating over whether the executive reshuffle will lead to any changes at Zegna.
The company has been a leader in its market for some time and has even lined up the launch of Tom Ford’s new menswear range, due out next spring.
Posted by Blacks at 10:14 AM | Comments (0)
December 15, 2006
Consumer Prices Steady In November
Consumer prices remained flat in November, indicating that the economy is not overheating. Core inflation, which excludes food and energy, was at its lowest level since June 2005.
Meanwhile, production and manufacturing was up in the month, the Labor Department said. The news is expected to leave the federal-funds rate unchanged at 5.25%.
Posted by Blacks at 09:48 AM | Comments (0)
December 14, 2006
Lagerfeld To Launch Lifestyle "K" Collection
Karl Lagerfeld is getting ready to launch a new denim-centered lifestyle collection called K. The line will debut at the Bread & Butter show in Barcelona next month and will land in stores for the fall-winter season.
Initial distribution will be focused in Europe and Canada. The collection features five-pocket denim, knits, dresses and outerwear.
Posted by Blacks at 09:16 AM | Comments (0)
December 13, 2006
Gucci Opens In Hong Kong
Gucci is continuing its Asian invasion with a new 11,000-square foot store in Hong Kong. The luxury retailer says that Asia is one of its fastest growing markets and Hong Kong is a key commercial center.
The Italian brand also recently opened a store in Tokyo and headquarters in Ginza.
Posted by Blacks at 10:13 AM | Comments (0)
December 12, 2006
Barneys Plans New Flagship In Scottsdale
Barneys New York is looking to open a 65,000-square foot store in Scottsdale, Arizona. The high-end chain is negotiating a lease in Scottsdale’s Fashion Square with plans to open in 2009.
The move is part of an aggressive expansion effort which includes two new store openings next year, in San Francisco’s Union Square and the Venetian in Las Vegas.
Posted by Blacks at 10:40 AM | Comments (0)
December 11, 2006
New Lacroix Boutique To Open In New York
Christian Lacroix will soon have a new 2,700-square foot boutique in New York. The store, set to open in mid-2007, will be the brand’s second Big Apple location and is part of a larger U.S. expansion effort.
French luxury group LVMH sold the loss-making Lacroix brand to Florida-based Falic Group in 2005.
Posted by Blacks at 09:57 AM | Comments (0)
December 08, 2006
Baby Phat Director Plans High-End Collection
Kimora Lee Simmons, creative director of hip sportswear line Baby Phat, is introducing a new high-end contemporary brand called KLS Collection.
The line will include skirts, dresses, blouses and jeans in higher-quality fabrics and tailored fits, aimed at fashionable working women.
KLS will launch in for fall, with some items available to select specialty stores in the spring.
Posted by Blacks at 09:47 AM | Comments (0)
December 07, 2006
Neiman's Q3 Earnings Plunge 50%
Earnings at Neiman Marcus plunged 50% in the third-quarter to $27.2 million. The department store chain pinned the loss on discontinued operations.
Despite the drop, revenues for the quarter ended Oct. 28 grew by 9.8% to over $1 billion.
Posted by Blacks at 09:53 AM | Comments (0)
December 06, 2006
Italians Look To Ban Emaciated Models
The era of he wafer-thin model may be drawing to a close. After much industry discussion, the Italian government and fashion trade organization said it is drafting a charter to put healthier looking models on the runway.
While their move is not a worldwide revolution, the Italian fashion trade organization puts together the Milan fashion shows and has influence in the industry.
Fashion houses could possibly be banned from the Milan shows if they do not comply, or face other restrictions.
Posted by Blacks at 09:45 AM | Comments (0)
December 05, 2006
Asprey To Open New Madison Ave. Store
Asprey plans to open a new 6,000 square foot store on Madison Ave. in April. The luxury jewelry and apparel company is under new management and hoping to reach breakeven within the next year.
Asprey had a location in Trump Tower but closed it earlier this year after racking up significant losses. The company says it is now back on track and making steady gains.
Posted by Blacks at 11:16 AM | Comments (0)
December 04, 2006
Abercrombie Exec Gets Post At Tom Ford
Tom Ford International has appointed Abercrombie & Fitch exec Tom Mendenhall as its new chief operating officer. Mendenhall will manage the brand’s distribution and retail development.
Mendenhall recently served as senior vice president and general manager at Abercrombie. Like Ford himself, he also hails from Gucci.
Posted by Blacks at 10:38 AM | Comments (0)
December 01, 2006
Prada Ponders IPO
Italian luxury brand Prada is again considering an IPO. The company is looking at 2008 to make the offering, after scrapping four earlier attempts.
Prada already sold a 5% stake in the company to Banca Intesa, valued at around $3.6 billion. The brand is reportedly looking for further capital injections to grow the company.
Posted by Blacks at 09:38 AM | Comments (0)