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January 31, 2007
U.S. Economy Posts Strong Q4 Growth
The U.S. economy sped up in the last quarter of 2006, posting growth of 3.5% thanks to strong consumer spending. This far outpaced third-quarter growth, which came in at just 2%. The fourth-quarter surge surprised economists who initially predicted weak growth for the period.
The economy advanced 3.4% for the full year, compared to growth of 3.2% in 2005, and 3.9% in 2004.
Posted by Blacks at 10:57 AM | Comments (0)
January 30, 2007
Mouret To Unveil New Line At Couture Shows
Roland Mouret’s designs will be strutting down the catwalk once again when the designer launches a new high-end collection this July.
Mouret will be showing off his new “RM by the designer Roland Mouret” line at the couture shows in Paris.
The tailored collection is Mouret’s first fashion foray since he left his company and formed a new venture called 19 RM with Simon Fuller.
Posted by Blacks at 09:28 AM | Comments (0)
January 29, 2007
McCartney To Design Line For LeSportsac
British designer Stella McCartney has signed up to design a limited-edition line for accessories company LeSportsac. The collection, set to launch in spring 2008, will include totes, luggage and baby accessories.
The line will be available in department and specialty stores worldwide, as well as in McCartney’s boutiques in London and the U.S.
Posted by Blacks at 09:26 AM | Comments (0)
January 26, 2007
Calvin Klein Takes A Swing At Golf Apparel
Calvin Klein has signed a licensing deal with Windsong Sport to create a better-priced golf collection. CK will provide the designs and Windsong will manufacturer and distribute the line.
Calvin Klein Golf will offer men’s wear and women’s shorts, knits, outerwear and accessories in clean designs.
The line is set to launch next holiday season and will be distributed to 250 high-end golf stores.
Posted by Blacks at 09:07 AM | Comments (0)
January 25, 2007
Gucci, YSL Boost PPR's Q4 Results
Strong sales at Gucci and Yves Saint Laurent helped boost PPR’s fourth quarter results, although other sectors of the French conglomerate’s business lagged.
Gucci posted a 15% sales increase for the quarter ended Dec. 31 while YSL reported a 22% sales gain.
However, PPR’s overall sales only increased by 3.2% due to the poor performance of its retail division.
Posted by Blacks at 09:31 AM | Comments (0)
January 24, 2007
Coach Reports 30.6% Income Jump In Q2
Coach’s second-quarter income skyrocketed 30.6% to $227.5 million, leading the leather goods and accessories company to raise its 2007 expectations.
The strength of the quarter, which ended Dec. 30, was driven by online sales and demand in Japan, Coach said.
Given its performance, Coach is predicting sales of over $2.6 billion this year, or 25% higher than last year.
Posted by Blacks at 09:42 AM | Comments (0)
January 23, 2007
Gap Seeks Direction As CEO Steps Down
Gap said goodbye to CEO Paul Pressler on Monday after both the board and Pressler agreed that it was time or him to step down. The move follows 24 months of sluggish sales at the apparel retailer due to a reported lack of direction on merchandise decisions.
The San Francisco-based chain said that it will be looking for a retail expert to lead it and may also consider a possible sale.
Posted by Blacks at 09:46 AM | Comments (0)
January 22, 2007
Haute Couture Week Opens In Paris
Today marks the opening of haute couture week in Paris, where some of the world’s most elaborate and expensive creations are expected to heat up the runways. Giorgio Armani, Valentino and Christian Dior are among the exclusive lineup of designers who will be showing their collections.
For ongoing coverage, remember to check in with Blacks In Fashion as the shows get underway.
Posted by Blacks at 07:42 AM | Comments (0)
January 19, 2007
Marc by Marc Jacobs Finds Chicago Home
Marc by Marc Jacobs has signed a lease to open a new 4,000 square-foot store in Chicago. The store, which will be located on North Damen Ave. in the Bucktown neighborhood, will feature men’s wear, women’s wear, kids clothes and lifestyle products.
Marc is moving in side-by-side with a host of independent retailers and boutiques. An exact opening date has yet to be announced.
Posted by Blacks at 10:04 AM | Comments (0)
January 18, 2007
Report: Jones Considers Breakup
After an unsuccessful bid to auction itself off, Jones Apparel Group is contemplating a breakup, according to reports. The group, which owns properties such as Barneys New York, Nine West and Enzo Angiolini, among others, was unable to get the price it wanted at auction and hopes that the individual properties will bring in higher offers.
The reported breakup plan appears to be in the early stages, however, as the group has yet to select a bank to advise it on its prospects.
Posted by Blacks at 09:47 AM | Comments (0)
January 17, 2007
Burberry's Sales Surge 22.6% In Q3
Third-quarter sales at Burberry jumped 22.6% to $395 million on the strength of outerwear and luxury accessories. The British brand said sales grew across all regions and channels.
On the heels of the success, the company made plans to move its London headquarters to a larger space and consolidate its global operations under the same roof.
Posted by Blacks at 09:15 AM | Comments (0)
January 16, 2007
NRF Predicts Sales Slowdown In 2007
Retail sales are expected to grow by 4.8% in 2007, slower than last year’s 6.8% gain, according to the National Retail Federation. The trade group predicted sluggish sales for the first half of 2007 with a pickup in the second half of the year.
Consumers will be affected by a weak economic environment, although the luxury and online shopping sectors will continue to thrive, the group said.
Posted by Blacks at 10:23 AM | Comments (0)
January 15, 2007
Men's Wear Shows Open In Milan
The fall 2007 men’s wear shows kicked off in Milan over the weekend, featuring Burberry’s new military look, Versace’s stark black and white theme – complete with Nehru collars – and D&G’s curious white space suits. For details and continuing coverage, check in with Blacks InFashion.
Posted by Blacks at 10:25 AM | Comments (0)
Rory Tahari Takes On Expanded Role
Elie Tahari has named his wife, Rory Tahari, vice chairman of his eponymous brand. In her new role, Rory Tahari will be in charge of retail expansion, brand development and strategy as well as creative functions.
Elie Tahari Ltd has grown into a thriving business in recent years, estimated to be worth $500 million. Not only has the brand expanded its retail base, but it has also added a men’s wear line and accessories collection.
Posted by Blacks at 09:56 AM | Comments (0)
January 12, 2007
Chopard To Open NY Flagship
Chopard is replacing its Madison Ave. boutique with a 3,000-square foot flagship that will be more suited to its growing retail business. The fine jewelry and watch company plans to close its existing New York store this summer and will open the new flagship at 709 Madison Ave.
The new store is being designed by award-winning designer Thierry W. Despont. In addition, Chopard is updating its other six U.S. locations with Despont’s plans.
Posted by Blacks at 09:26 AM | Comments (0)
January 11, 2007
CFDA Meets For First Time This Year
On Wednesday the Council of Fashion Designers of America (CFDA) met for the first time this year, led by new president Diane von Furstenberg. During the meeting Furstenberg named four designers to her cabinet, including Coach President Reed Krakoff, who will serve as vice president of the group. Furstenberg also gave a spot to Joseph Abboud, who she competed against for the president’s job. He will serve as chairman of the education committee.
In addition to naming a cabinet, the group also discussed guidelines for ensuring that healthier models are used in the industry.
Posted by Blacks at 09:50 AM | Comments (0)
January 10, 2007
Speculation Swirls Over Possible Gap Sale
All eyes are on Gap this week as the stumbling retail chain tries to find a direction following news of shrinking sales.
The San Francisco-based company recently hired investment banking firm Goldman Sachs to help it explore its options, leading to speculation of a potential sale to private equity groups or other interested parties.
The Gap had a tough holiday season, with same-store sales down 8 percent in December. It remains to be seen what direction the company will take, but executives could be moving closer to a decision after meeting in San Francisco earlier this week.
Posted by Blacks at 09:36 AM | Comments (0)
January 09, 2007
New Boutique To Feature Wang's RTW
Vera Wang is opening her first ready-to-wear (RTW) boutique in New York this fall.
The 2,500-square foot store is located on Mercer Street and will feature the designer’s RTW collection and Lavender Label.
The Lavender line sells for $350 to $1000 while the RTW collection has pieces that retail for up to $5000.
Posted by Blacks at 09:21 AM | Comments (0)
January 08, 2007
Ralph Lauren Unveils Global Brand Division
Ralph Lauren is creating a division that will develop private-label lifestyle brands for department and specialty stores. The new group, called Global Brand Concepts, will have a hand in the design, manufacturing and marketing of women’s apparel, children’s clothes, home furnishings and accessories without the Polo label.
The division is aimed at boosting revenues at Ralph Lauren while giving partner stores the opportunity to offer something special from the designer. The stores will own the product, making them in charge of the inventory.
Posted by Blacks at 08:40 AM | Comments (0)
January 05, 2007
Yurman Opens New Beverly Hills Boutique
Jewelry designer David Yurman has opened a new elegant location on Rodeo Drive in Beverly Hills. The 1,000-square foot boutique features Yurman’s signature silver, platinum and gold collections as well as one-of-a-kind and vintage pieces.
Yurman said the new store is a response to increased demand for his designs from California customers.
Posted by Blacks at 09:41 AM | Comments (0)
January 04, 2007
Department Stores Report Mixed Dec. Results
Federated Department Stores reported a 4.4 percent increase in same-store sales for December, falling below its original expectation for a 5 to 8 percent increase. The owner of Macy’s and Bloomingdale’s predicted an even greater slowdown in January, with growth of 1.5 percent to 3 percent.
Nordstrom, on the other hand, posted a 9-percent increase for December, echoing similar results in higher-end stores.
Posted by Blacks at 10:27 AM | Comments (0)
January 03, 2007
Online Holiday Spending Up 26%
Internet sales leaped 26% for the 2006 holiday season, bringing in over $26 billion.
Although the spike spells good news for online retailers, the trend threatens traditional brick-and-mortar retailers who are challenged to compete with online rivals who can often offer a larger selection at lower overhead.
Now it’s up to specialty apparel retailers to set themselves apart by selling luxury and exclusive items with excellent customer service.
Posted by Blacks at 10:08 AM | Comments (0)
January 02, 2007
Z Zegna Set To Strut NY Runway
Ermenegildo Zegna will showcase its designer Z Zegna line on a runway for the first time in February during New York’s Fashion Week. The move reflects the growing success of the younger, more fashion forward collection.
Z Zegna generated around 15 percent of the Italian company’s revenue last year and is expected to continue its growth spurt.
Posted by Blacks at 11:30 AM | Comments (0)