News
« March 2007 | | May 2007 »
April 30, 2007
Saks New York Opens Zegna Concept Store
Saks Fifth Avenue has opened a 2,800-square foot Zegna shop on the sixth floor of its New York flagship. The concept store includes Zegna clothing, sportswear, furnishings, footwear and accessories.
Saks plans to continue adding Zegna stores to other locations through 2008. Next up is one of Saks’s Chicago stores, which will have a Zegna boutique by fall.
Posted by Blacks at 02:01 PM | Comments (0)
Shoppers Queue Up For Kate Moss Collection
U.K. retailer Topshop is preparing for shopping frenzy this week as it debuts Kate Moss’s new clothing line. The supermodel-crafted collection went on sale at Topshop’s Oxford Circus flagship location today, and will be rolled out to 21 additional countries within two weeks. In the U.S., it will be available at Barneys.
While Topshop and Swedish fast fashion chain H&M have introduced a number of celebrity capsule collections, Moss’s line is creating the most buzz, due to her status as a fashion icon.
Blacks’s Take: The Kate Moss collection is just another example of mass market demand for cutting edge fashion.
Posted by Blacks at 09:39 AM | Comments (0)
April 27, 2007
Luxury Drives PPR's Q1 Sales
PPR got a first quarter boost from luxury brands Gucci, Bottega Veneta and Yves Saint Laurent, it said this week. The French group reported a total sales gain of 5 percent for the period ended March 31 to $5.8 billion.
While PPR’s non-luxury operations posted middling results, sales at Gucci Group increased by 10.7 percent, Bottega showed a 45 percent gain and YSL’s sales jumped 30.2 percent.
Blacks’s Take: PPR’s results show enduring demand for luxury goods across all markets.
Posted by Blacks at 09:47 AM | Comments (0)
April 26, 2007
LVMH's Q1 Sales Sparkle On Jewelry, Handbags
First quarter sales at LVMH Moët Hennessy Louis Vuitton surged 7 percent to $5 billion on the strength of watches, high-end apparel and handbags.
The French luxury group reported a 20 percent increase in its watch and jewelry division, and strong momentum at fashion brands such as Fendi, Louis Vuitton and Marc Jacobs.
Fendi, for example, posted a double-digit increase in revenue, driven in part by sales of its B-Mix handbag collection.
Posted by Blacks at 09:10 AM | Comments (0)
April 25, 2007
Coach Sees Its Earnings As In The Bag
Coach Inc. plans to take advantage of the strength of its accessories business by launching two new lifestyle brands.
The first brand, called Bleecker, is a lightweight collection of primarily leather goods, influenced by the company’s history. Bleecker will launch in October and the second brand, a line of sporty totes called Heritage Stripe, will debut next spring.
The news came as Coach reported a 38 percent increase in earnings for its third-quarter due to strong sales in its accessories business.
Blacks's Take: Coach has built a business around offering the classic, enduring handbag and the new collections will likely solidify this position.
Posted by Blacks at 09:20 AM | Comments (0)
April 24, 2007
Limited Brands Looks To Unload Apparel Chains
Limited Brands Inc. is preparing to sell two apparel chains, Limited and Express, according to reports. The apparel operations used to account for a bulk of the group’s sales but now only represent around 20 percent.
Victoria’s Secret and Bath & Body Works are the group’s current cash cows, and Limited Brands is looking to shed any potential liabilities.
Possible buyers for the chains include Gordon Brothers Group, Schottenstein Stores Corp. and Limited apparel group president Jay Margolis.
Blacks's Take: Both Limited and Express are well-known brand names that could benefit from an upscale update by new buyers.
Posted by Blacks at 09:15 AM | Comments (0)
April 23, 2007
Sadove Named CEO & Chairman Of Saks
Stephen Sadove is taking over as the new chairman and CEO of Saks Inc., effective May 4. Sadove, who has been CEO since Jan. 2006, is replacing R. Brad Martin as chairman, following his retirement.
Martin served as chairman since 1987 and was CEO of the company from 1989 to 2006.
Posted by Blacks at 09:17 AM | Comments (0)
April 20, 2007
Brooks Woos The Resort Crowd
Brooks Bros. is focusing on the resort lifestyle with a new chain of concept stores called Brooks Bros. Country Club Collection. The stores will feature the brand’s popular Country Club label of sports-related clothing and accessories.
The new format will debut next month in a number of affluent locations, including Tucson, Arizona and Southampton, New York.
Blacks’s Take: Brooks is working on a proven concept but it should be careful not to add too many new stores too fast.
Posted by Blacks at 09:24 AM | Comments (0)
April 19, 2007
Report: Apax Considers Bid For Adidas
Adidas could be the next activewear company to be scooped up by a private equity firm. Apax Partners Worldwide - which owns Tommy Hilfiger – is reportedly considering an investment into the German brand.
The takeover rumor follows the announcement last week that PPR is making a $7.2 billion bid for Puma.
Blacks’s Take: Any cash injection into Adidas should first be focused on helping the company integrate its 2005 buy of Reebok.
Posted by Blacks at 09:20 AM | Comments (0)
April 18, 2007
Burberry's 2006 Sales Shine
Burberry’s revenues rocketed over 19 percent in the second half of fiscal 2006 to $886 million. Sales were boosted by the company’s spring line, iconic trenches and accessories.
Sales for the full fiscal year increased over 14 percent to $1.6 billion, the London-based company said.
Blacks’s Take: Burberry’s focus on luxury leaves the company poised for further growth.
Posted by Blacks at 09:43 AM | Comments (0)
April 17, 2007
7 To Open First Standalone Store In L.A.
7 For All Mankind is opening its first standalone store in Los Angeles later this year. The 3,000-square foot shop on Robertson Boulevard will carry men’s, women’s and children’s denim as well as sportswear and accessories.
The denim brand says that the new location is part of a larger expansion plan that will see 7 shops moving into a number of metropolitan areas.
Blacks’s Take: Given the slowdown of all-denim operations, 7 should make sure its sportswear and accessories also have a good showing.
Posted by Blacks at 09:12 AM | Comments (0)
April 16, 2007
Report: Neiman Could Be Offered In IPO
Neiman Marcus could soon be offered in an IPO, according to sources in the financial community. Neiman was acquired by private equity firms Warburg Pincus and TPG in 2005 for a cool $5.1 billion.
Since then, the luxe department store chain has been performing well and its owners may want to take advantage of its current success before there’s a downturn in the M&A market.
Blacks’s Take: Neiman’s track record makes it a hot property but much depends on management of the IPO.
Posted by Blacks at 08:27 AM | Comments (0)
April 13, 2007
March Comps Get Early Easter Treat
Retail sales got a special treat this March from the early arrival of Easter. Sales leading up to the holiday boosted same-store comps by an average 8 percent in department stores and 7 percent in specialty stores, according to analysts.
Warmer weather in parts of the country also helped jumpstart sales of spring merchandise.
Blacks’s Take: While March benefitted from the early Easter holiday, we could see a dip in April’s year-over-year sales.
Posted by Blacks at 09:41 AM | Comments (0)
April 12, 2007
Report: Fund Considering $1B Bid For Barneys
A private equity find is reportedly mulling a $1 billion bid for Barneys New York. The buy – which is being linked to the royal family in Qatar – could be announced within a matter of days.
The bid would be substantially higher than others considered for the Jones New York property.
According to reports, the Qatar government wants to develop a luxury retail sector to drive tourism.
Blacks's Take: Foreign owners may be more interested in keeping current management in place as they make expansion plans.
Posted by Blacks at 09:50 AM | Comments (0)
April 11, 2007
Yohji Teams With Mikimoto For Jewelry Line
Yohji Yamamoto is establishing a new jewelry brand in conjunction with Japanese pearl specialist Mikimoto. The brand, whose name is yet to be revealed, will deliver its first collection during Paris fashion week in July. It will consist of pearls ranging in color from white to black, which happens to be the avant garde designer’s favored palette.
Blacks’s Take: Yamamoto likes to play with different categories, such as footwear, and it will be interesting to see his creativity flow into jewelry.
Posted by Blacks at 09:42 AM | Comments (0)
April 10, 2007
Tom Ford Store, Collection Debuts Thursday
Tom Ford’s New York flagship will open on Thursday, offering men’s ready-to-wear, sportswear, custom clothing, shoes and accessories.
The opening will be the first time that buyers and press have seen the highly anticipated men’s collection, which is being licensed and produced by Ermenegildo Zegna.
The 9,600-square foot store, located at 845 Madison Ave., is said to be the epitome of luxury, with a focus on fine cloth, customer service and tailoring.
Blacks’s Take: If done right, Ford’s store is set to become a top shopping destination for luxury consumers.
Posted by Blacks at 09:37 AM | Comments (0)
April 09, 2007
Report: PPR Ponders Puma Buy
French luxury group PPR is reportedly considering a buy of German sports brand Puma. Neither company has commented on the possible deal, which would add another major player to PPR’s portfolio.
The group already counts Gucci, Yves Saint Laurent, Stella McCartney and Balenciaga among its fashion brands.
Blacks’s Take: A deal might allow PPR to offer designer capsule collections from Puma and increase the luxury aspect of the brand.
Posted by Blacks at 09:23 AM | Comments (0)
April 05, 2007
Federated Expects Online Sales To Reach $1B
Federated Department Stores is determined not to be left out of the online sales boom and plans to spend $100 million to update its Internet operations.
The retailer says that its direct-to-consumer sales increased from $450 million in 2005 to $620 million last year. It hopes to exceed the $1 billion mark after its expansion efforts.
Blacks’s Take: Federated is doing the right thing by capitalizing on the strength of its brands and keeping up with the competition.
Posted by Blacks at 08:20 AM | Comments (0)
April 04, 2007
Jones CEO To Leave In 2009
Jones Apparel Group President and CEO Peter Boneparth will be leaving the company when his contract expires on March 31, 2009. His contract could have been extended for another year.
During his tenure Boneparth tried to sell the company but the bids that came in were deemed too low.
Despite this challenge, the company has gone forward with its business strategy and reaped significant gains from its Barneys New York operations.
Blacks’s Take: Boneparth’s departure may offer the company the opportunity to take a new direction, but much will depend on who is chosen to fill his shoes.
Posted by Blacks at 09:14 AM | Comments (0)
April 03, 2007
Miyake To Open Standalone Store In Osaka
Issey Miyake is opening his first standalone store with a complete collection of his merchandise in Osaka, Japan. The store, due open April 20, is called Elttob Tep (PET bottle spelled backward) and will feature all of Miyake’s brands as well as lines from emerging talents.
The 4,600-quare foot store is expected to generate sales of $2.5 million a year.
Blacks’s Take: Miyake’s experiment is another example of designers taking control of their retail environments and increasing the “lifestyle” appeal of their brands.
Posted by Blacks at 09:37 AM | Comments (0)
April 02, 2007
Topshop Bets On Kate To Open New Markets
Topshop plans to use its upcoming capsule collection designed by Kate Moss to break into international markets. The British ‘fast fashion’ retailer will debut Kate’s line in Britain May 1 and then launch the collection in 19 Barneys New York stores on May 8th.
The supermodel-designed line will eventually be available in 20 countries outside of the U.K.
Blacks’s Take: Considering Moss’s worldwide status as a fashion icon, Topshop is making a smart bet to crack new markets.
Posted by Blacks at 09:57 AM | Comments (0)