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November 30, 2005
Wijnants Wins Swiss Textile Prize
Belgian designer Christian Wijnants has won the coveted 2005 Swiss Textiles Award, which comes with a €100,000 prize.
Judges praised Wijnants for his collection’s ethnic look, combining soft, flowing materials with patchwork in earthy tones. The designer beat out other highly-praised nominees such as Giles Deacon of Britain and Undercover from Japan.
Wijnants founded his own label in 2000 and currently has pieces available at select stores in New York, Paris and Tokyo.
His prize is not a cash reward, but goes instead toward the production and promotion of his work.
Posted by Blacks at 12:36 PM | Comments (0)
November 29, 2005
Modern Luxury Goes East
Wondering about the future of the luxury market? Well, if you are anywhere near Dubai you may want to swing by the Modern Luxury 2005 conference, featuring such fashion luminaries as Giorgio Armani, Diane Von Furstenberg, Laudomia Pucci, and many more.
The annual conference, which opens Dec. 5, is sponsored by the International Herald Tribune and examines opportunities in the luxury market. Due to its location this year, the conference will focus on the growing luxury market in the Middle East. Dubai in particular has marked itself as high-end destination, spending millions upon millions to develop opulent shopping centers, hotels and resorts.
Posted by Blacks at 03:15 PM | Comments (0)
November 28, 2005
Strong Start For Holiday Sales
More Thanksgiving sales information is trickling in at it appears as though we had a strong start to the holiday season. Weekend sales jumped 22% from a year ago, totaling nearly $28 billion, according to the National Retail Federation.
It’s difficult to say whether shoppers will keep up the pace, however. The NRF is expecting an overall rise of 6% for November to December, compared to 6.7% over the same period last year.
Posted by Blacks at 01:59 PM | Comments (0)
November 26, 2005
Black Friday Gives Way to Cyber Monday
Black Friday has come and gone and while door-busting discounts and consumer frenzies have grabbed the headlines the overall strength of holiday sales remains to be seen.
Friday’s sales were driven by sharp cuts at discount retailers, which do not reflect the state of the luxury market.
What could affect luxury merchants is strong growth in online sales this Christmas season. In fact, Monday is being dubbed Cyber Monday in anticipation of an online spending frenzy. Merchants without an online presence could be left in the cold, and at this time of year that’s an unpleasant place to be.
Posted by Blacks at 01:05 PM | Comments (0)
November 25, 2005
US Drops Pending Chinese Textile Requests
The U.S. is dropping all pending decisions regarding quotas on Chinese textile imports following an agreement reached between the two countries earlier this month.
The Commerce Department said that it has 24 outstanding requests from industry groups that are being scrapped in light of the decision. Most of the issues brought up in the requests are covered in the recent agreement, the Commerce Department said.
After a prolonged period of negotiation, the U.S. and China reached a 3-year deal to restrict the import of 34 types of apparel and textiles, valued at about $5 billion annually.
Posted by Blacks at 12:30 PM | Comments (0)
November 23, 2005
Mr. Smith Goes To LA
Paul Smith, purveyor of dress shirts for the understated dandy, is due to open his first shop in Los Angeles this month. The 5,000 square foot building is sure to become a local landmark given its bold pink exterior.
The store will house Paul’s menswear collection and accessories. The British designer has made his mark with often colorful formal shirts. It’s not hard to imagine Angelenos coupling his shirts with a pair of designer washed jeans for a night out in the big city.
Posted by Blacks at 08:59 PM | Comments (0)
November 22, 2005
Forecast Raised For Holiday Sales
The National Retail Federation bumped up its forecast for holiday sales this season, due in large part to falling oil prices.
The generally cautious group is expecting November to December sales to climb 6% over last year, to nearly $440 billion. Initially the group predicted 5% growth but revised its estimate saying that falling oil prices are boosting consumer confidence.
Posted by Blacks at 07:05 AM | Comments (0)
November 21, 2005
Stella Turns Her Hand To Bags
Fresh from her H&M success, Stella McCartney is already planning her next project. The British designer is making a foray into handbags and shoes, with an emphasis on non-leather accessories.
McCartney grabbed the fashion spotlight earlier this month when the mass market clothing line she designed for H&M sold out the first day it hit the racks.
McCartney minders say it was a branding coup and a solid step on the path to profitability. Stella’s parent company The Gucci Group has given her a 2007 deadline to turn a profit.
Posted by Blacks at 12:51 PM | Comments (0)
November 18, 2005
Fashion Guru Burke To Leave Bergdorf
Bergdorf Goodman’s Senior Vice President of Fashion and Public Relations, Robert Burke, has announced that he is leaving the store to start up his own consulting business.
In his position atop the luxury outfit Burke took a particular interest in Bergdorf’s menswear business and has been credited as one of the most influential figures in the sectors. Burke leaned toward an eclectic mix of brands such as Etro, Hickey Freeman and Brunello Cucinelli.
It will be interesting to see how Bergdorf’s fashion position evolves following Burke’s exit in January.
Posted by Blacks at 08:14 PM | Comments (0)
November 17, 2005
GUS To Buck Burberry
GUS PLC, majority stakeholder in Burberry Group, plans to spin-off the British fashion house next month. After reporting a 5.7% dip in half-yearly profit, GUS is looking to breakup some of its businesses in an effort to stabilize its share price.
The group owns a 65% stake in Burberry and plans to unload the business through a stock consolidation.
Burberry has been hit with one change after another in the last few months, including management changes at the top and a publicity nightmare for the supermodel face of its brand.
While rough waves appear on the horizon, industry watchers are still predicting smooth sailing for the fashion house given the enduring popularity of its classic apparel.
Posted by Blacks at 11:50 AM | Comments (0)
November 16, 2005
Apparel Sector Dresses Up Oct. Retail Sales
October retail sales grew 3.1% over the previous month, thanks to strong demand for apparel and accessories. Lower gas prices also helped fuel the spending surge, according to the U.S. Commerce Department.
Apparel and accessory store sales reached $17.2 billion last month, representing a 6.5% increase over a year ago.
While lower gas prices may take a smaller bite out of disposable incomes going into the holiday shopping season, economists warn that natural gas prices remain high and could lead to significant heating bills this winter.
Posted by Blacks at 10:25 AM | Comments (0)
November 15, 2005
Blake Leaves Burberry
Burberry President and Chief Operating Officer Brian Blake is leaving the company due to ‘family reasons.’ The former Gucci exec will step down at the end of the year, after just two years on the job.
His exit comes as the company is already dealing with a transition between Chief Executive Rose Marie Bravo and her replacement Angela Ahrendts, who begins in January.
But despite the tumult, Burberry is making rosy predictions for the season ahead, saying it expects sales of its iconic scarves and raincoats to spike as the weather continues to cool.
Posted by Blacks at 02:30 PM | Comments (0)
November 13, 2005
Papal Prada
Recently-appointed Pope Benedict XVI reportedly likes stepping out in style with a red pair of Prada loafers and Gucci shades. This endorsement of the Italian brands may be unexpected, but probably not unwelcome. What luxury brand wouldn’t want to be associated with such an influential trend setter?
Of course, his Holiness’ choice of attire leaves us wondering what’s next. Would he be interested in a cassock by Armani, for example?
Posted by Blacks at 11:19 AM | Comments (0)
November 11, 2005
“Stella! Hey, Stella!”
No, that’s not Brando screaming, it’s the hoard of Stella McCartney followers that crowded H&M stores yesterday to snatch up McCartney’s new line of lower-priced goodies.
H&M stores in New York, London and around the globe were swamped with Stella shoppers looking to get their hands on sleek, V-neck tops, skinny pants and oversized sweaters.
Admittedly, we’re not that surprised given that the same kind of frenzy occurred last year when H&M released a Karl Lagerfeld collection. Given that the success of the lower-priced designer brands is a no-brainer, the real question may be how or if the designers’ premium lines are affected when cheaper versions can be seen walking the streets.
Posted by Blacks at 04:43 PM | Comments (0)
November 10, 2005
French Vogue Editor Turns Designer
Apparently French Vogue editor Carine Roitfeld isn’t content just to report on the latest fashions because now she is designing as well. The celebrated fashion diva is set to debut her creations in Spring ’06. Her first effort, according to reports, is a cashmere top with elbow patches and tears called “The Tramp.”
Whether this will turn out looking tres chic or like a costume piece from Les Misérables remains to be seen, but given that Roitfeld was a consultant for Tom Ford’s Gucci we are keeping our hopes up.
Posted by Blacks at 11:36 AM | Comments (0)
November 09, 2005
U.S., China Reach Textile Deal
The U.S. and China reached a long-sought agreement to limit Chinese clothing and textile imports on Tuesday. The three-year deal will restrict the import of 34 types of apparel and textiles, valued at about $5 billion annually.
The deal was made to protect U.S. suppliers who fear an erosion of their markets from cheaper Asian imports. While the limits are good news for U.S. industry players, some estimate that consumers will wind up spending $10 to $20 more a year for clothing.
Posted by Blacks at 05:55 PM | Comments (0)
November 08, 2005
Prada Populi?
You have a world-recognized luxury brand known for its chic and sexy silhouettes. You’re a long-time favorite of movie stars, fashionistas and Europhiles and very recently you’ve become the label of choice for bands of loutish, street-crawling and occasionally violent British youth. Oh-uh. Prada may have a problem.
Word from across the pond is that Prada has become the latest signature style of British youth known as chavs. Until recently Burberry plaid has been their designer look (usually in knockoff form) but now they’ve taken to Prada trainers and other accessory items.
Some nightclubs in Manchester, England have even gone so far as banning Prada sneakers at the door. It will be interesting to see if this exclusive brand has to exclude some customers.
Posted by Blacks at 11:44 AM | Comments (0)
November 07, 2005
All Hail McQueen
British fashion darling Alexander McQueen is creating a new ready-to-wear collection for Fall 2006 called McQ. The new line will add to McQueen’s already prolific creations in the areas of men’s and womenswear, eyewear, perfume and handbags.
Although details are short on the upcoming line, educated McQueen watchers are predicting the same kind of juxtapositions between elements such as masculinity and femininity that he brings to his couture collections.
However, the designer said that the upcoming line will be younger and more renegade. McQueen has recently tapped the younger market by designing a footwear line under a partnership with Puma.
Posted by Blacks at 10:32 AM | Comments (0)
November 04, 2005
Armani Expands A/X Brand
The Armani Group is expanding its A/X Armani Exchange brand through a joint venture with COMO Holdings. The venture will prompt worldwide expansion of the brand. First stop is Europe, executives of the company have said.
The move is part of an effort by the Italian fashion house to span all levels of the marketplace. Earlier this year it launched Giorgio Armani Privé, a couture collection.
Armed with a wide range of product lines Armani is predicting a boost in annual revenue over the next three years, from its current $300 million to $550 million.
Posted by Blacks at 10:32 AM | Comments (0)
November 03, 2005
Oct. Sales Look Up In Luxury
Apparel retailers in the luxury and teen markets are reporting strong October sales, thanks in part to the shift into cooler weather. Consumers are looking to refresh their Fall wardrobes and spend some leisure time in the chic comfort of retail shops, analysts said.
Although the middle market remains challenged by high energy costs, luxury buyers and seemingly insatiable teens have their credit cards poised for action. Now the only question is whether they will stay that way through Christmas.
Posted by Blacks at 01:56 PM | Comments (0)
