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June 29, 2007
Paris Shows Focus On Darker, Edgier Looks
Fashion Week moved to Paris on Thursday, where it shed he light casualness of Milan. Looks got darker, more thoughtful and edgy with designs by Yohji Yamamoto, John Galliano and hot Japanese line Number (N)ine.
The prevalent white suits, skinny ties and sandals we saw in Milan were nowhere in sight, so we are eager to see what the new collections bring.
For ongoing coverage of the Paris shows, check in with Blacks In Fashion.
Posted by Blacks at 09:49 AM | Comments (0)
June 28, 2007
Supreme Court: Minimum Prices No Longer Illegal
Minimum prices set by manufacturers and retailers are no longer automatically illegal under antitrust law, the Supreme Court ruled on Thursday.
The decision overturns a 96-year precedent and is a victory for manufacturers who want to enforce certain product prices. The court said that minimum price agreements are legal if they promote competition.
However, the ruling comes as a blow to discounters and Internet retailers who compete by offering deep price cuts.
The high court went against the wishes of 37 states and several consumer groups to take a softer stance on the issue. It will now determine whether price setting agreements are illegal on a case-by-case basis.
Posted by Blacks at 09:04 AM | Comments (0)
June 27, 2007
Liz Claiborne Dies At Age 78
Liz Claiborne died Tuesday at the age of 78, due to complications related to cancer. The women’s wear designer was known for her affordable career clothes.
Claiborne started her own company in 1976 and eventually turned it into a billion-dollar enterprise. She retired from Liz Claiborne Inc. in 1990, but it remains one of the largest fashion companies in the world, with a stable of well recognized brands including Juicy Couture and Lucky Brand jeans.
Posted by Blacks at 04:27 PM | Comments (0)
Nike's Earnings Surge 32 Percent
Nike’s earning surged nearly 32 percent in the company’s fourth-quarter, underscoring the continued popularity of athletic footwear.
The Oregon-based company reported income of $438 million on sales that increased 9.4 percent to $4 billion.
Nike said that it saw growth across all regions and categories, and particularly in its Converse division.
Posted by Blacks at 09:45 AM | Comments (0)
June 26, 2007
Hermès Targets Wall Street Crowd
Hermès has opened a new 5,000-square-foot store on Wall Street with a focus on men’s wear.Unlike the brand’s other locations, which highlight women’s bags and accessories, the new store showcases men’s items such as ties and collars in front displays.
While there is still plenty of room for women’s wear, the mix has shifted to 55 percent men’s and 45 percent women’s.
Given the store’s location across from the New York Stock Exchange, Hermès is expecting banner sales.
Posted by Blacks at 09:31 AM | Comments (0)
June 25, 2007
Barneys' Buyer Mulls International Expansion
The $825 million sale of Barneys could lead to major international expansion, according to its prospective buyer, Istithmar.
The Dubai-based investment firm is considering expansion into Palm Islands, off the coast of Dubai and Macao. Speculation is also swirling over a possible move to London.
The sale was agreed to last week and has yet to be finalized. Barneys parent Jones Apparel Group has decided to cut the luxury department store loose to concentrate on its various mid-tier brands.
Posted by Blacks at 08:47 AM | Comments (0)
June 22, 2007
Jones Agrees To Sell Barneys for $825 Million
Jones Apparel Group has entered an agreement to sell Barneys New York for $825 million in cash. The buyer is Dubai-based private equity group Istithmar. Further details of the sale have yet to be revealed.
Istithmar’s other retail holding include off-price retailer Loehmann's and Retailcorp, a retail development, marketing and promotion company.
Posted by Blacks at 02:36 PM | Comments (0)
Liz Claiborne Restructures; Splits In Two Groups
Liz Claiborne went through a major restructuring this week that saw the elimination of five group president positions, including menswear leader Karen Murray.
The company has decided to reorganize into two distinct divisions: a “direct brands” retail unit and a “partnered brands” wholesale unit.
The direct brands unit, which includes Juicy Couture and Lucky Brand, will be led by former direct-to-consumer group president Jill Granoff.
The partnered brands unit, which includes Dana Buchman and Ellen Tracy, will be headed by Liz Claiborne president Trudy Sullivan.
Posted by Blacks at 09:36 AM | Comments (0)
June 21, 2007
Cavalli Signs On With H&M For Capsule Collection
Cheap chic retailer Hennes and Mauritz (H&M) has lined up yet another celebrity fashion designer to do a capsule collection. This time it’s Roberto Cavalli who will be designing a 40-piece line for 200 H&M stores around the world.
The collection, which will go on sale Nov. 8, will include dresses and party wear for the holiday season.
H&M has previously collaborated with designers such as Stella McCartney, Viktor & Rolf, and most recently, Madonna.
Posted by Blacks at 09:38 AM | Comments (0)
Brioni Buyback Keeps Business In The Family
The Brioni family has taken control of its eponymous brand through a buyback of a 17 percent stake in Brioni Roman Style S.p.A The shares belonged to former CEO Umberto Angeloni and Gabriella De Simone. They were purchased by Brioni family members for an undisclosed sum.
The buyback will keep the Italian luxury brand in the Brioni family at a time when most fashion brands are being gobbled up by equity firms.
Posted by Blacks at 09:20 AM | Comments (0)
June 20, 2007
PVH Sees Growth In Calvin White Label Stores
If Phillips-Van Heusen has its way, Calvin Klein stores will soon be sprinkled across the U.S. The fashion holding company sees real growth potential in Calvin Klein boutiques offering the brand’s better white label collections.
PVH plans to open five stores at the end of this year and five in 2008. If the concept sticks, it could turn into a 100-store chain.
Posted by Blacks at 09:49 AM | Comments (0)
June 19, 2007
Supreme Court Case Could Affect Pricing Policies
The Supreme Court is currently weighing a case that may give vendors more control over how retailers price product. The case is an appeal of an earlier ruling in favor of discount firm Kay’s Kloset, which was sued by Leegin Creative Leather Products for selling its goods below the vendor’s minimum asking price.
If Leegin wins its appeal at the high court, vendors could have much more say on product pricing than they do currently.The sea change would primarily affect discount stores that are trying to compete against pricier rivals.
Posted by Blacks at 07:36 AM | Comments (0)
June 18, 2007
Oscar Launches Low Priced Jewelry Line
Fresh from winning CDFA’s prize for women’s wear designer of the year, Oscar de la Renta is already working on expanding his empire into moderately priced accessories.
The O Oscar line of jewelry includes necklaces, bracelets and brooches ranging from $35 to $250. They will go on sale at big name retail chains such as Macy’s in August.
According to the designer, the line reflects a trend toward costume jewelry that allows women to make a statement without spending a lot of money.
Posted by Blacks at 09:43 AM | Comments (0)
June 15, 2007
Levi's Launches New Premium Collection In Europe
Levi’s Europe introduced a new collection of its upscale Levi’s Red line, which targets premium denim buyers with unusual cuts and stitching.
The new connection, which starts at around $370 a pair, draws on old advertising cartoons the company ran in the 1940s and 1950s.
Levi’s Red will sell in specialty stores throughout Europe. No plans have been announced for a launch in the U.S.
Posted by Blacks at 09:37 AM | Comments (0)
June 14, 2007
Jones Closer To A Barneys Sale?
All eyes are on Jones Apparel Group’s annual shareholders’ meeting today to see if the group will announce a buyer for its Barneys New York chain.
Speculation over a possible sale increased this week with Jones’ appointment of Jay Friedman as president of company-owned retail footwear and apparel. Barneys was not mentioned in the appointment and observers think Jones may be ready to cut the property loose.
There are reportedly two suitors going head-to-head over the luxury department store chain: an investment fund from Dubai and an investor related to the royal family of Qatar.
Posted by Blacks at 09:20 AM | Comments (0)
June 13, 2007
Retail Sales Rebound In May
Retail sales rebounded in May, posting a gain of 1.4 percent, in a sign that the U.S. economy is getting back on track. The increase surprised economists who predicted a lower growth rate following April’s slight 0.1 percent increase.
Clothing sales led the gain with a 2.7 percent increase, as consumers shook off concerns over high gas prices and hit the stores.
Posted by Blacks at 09:34 AM | Comments (0)
June 12, 2007
Tom Ford Has Plans To Go Global
Tom Ford may have just opened his first self-named flagship in New York but he’s already planning a global rollout that will see four more flagships erected in three years. The former Gucci designer plans to open stores in Milan, London, Los Angeles, and Hawaii in a move designed to make his brand the sign for luxury worldwide.
In addition to the directly-owned flagships, Ford has teamed with former Gucci executive Domenico de Sole to license franchises all over the world.
While Ford is going global, he has said he has no interest in pursuing women’s wear, and will stick for now to his men’s wear expertise.
Posted by Blacks at 08:51 AM | Comments (0)
June 07, 2007
J Brand Starts To Outgrow Its Jeans
J brand has plans to move beyond premium denim with development of a sportswear line inspired by vintage pieces. The line won’t debut until 2009 because it's being seen as an entirely different business, with a new team of designers.
In the meantime, the company plans to launch an even higher-end denim line called R. a C. by J Brand.
The new denim line will be priced 25 percent higher than regular J brand jeans due to its use of new fabrics and intricate details. R. a C. will be available this fall at Barney’s New York.
Posted by Blacks at 08:43 AM | Comments (0)
June 06, 2007
Pendleton Spins Expansion Plans
Pendleton Woolen Mills is rolling out a new retail concept that emphasizes the company’s heritage in weaving and fabric. The Portland-based company plans to open 30 new retail stores over the next few years decorated with woven elements and brand logos.
Pendleton recently reopened its Portland store, offering a prototype of the concept. The company offers better men’s wear, women’s wear and accessories and is now trying to attract a younger customer than its traditional baby boomer base.
Posted by Blacks at 09:27 AM | Comments (0)
June 05, 2007
CDFA Hands Out Design Awards
The Council of Fashion Designers of America (CFDA) surprised the crowd at its annual awards Monday night by naming two Women’s Wear Designers of the Year: Oscar de la Renta and Proenza Schouler’s Lazaro Hernandez and Jack McCollough.
The men’s wear award went to the classic Ralph Lauren, and the international award went to Pierre Cardin.
Phillip Lim picked up the young designer’s award, in an evening that started with some sparks and ended with more predictable nods.
Posted by Blacks at 09:10 AM | Comments (0)
June 04, 2007
De Beers Hopes To Sparkle Online
Diamond giant De Beers is launching an e-commerce site later this month that will allow consumers to order items such as tennis bracelets and engagement rings for up to $30,000.
The site, DeBeers.com, is a joint venture between the jewelry retailer and luxury group LVMH.
The companies will be competing with other jewelry e-tailers who have found success online by selling diamonds at a discount.
De Beers said that it won’t be marking down its stones, but all items on the site will offer De Beers Passport, which guarantees the origin of each diamond.
Posted by Blacks at 08:59 AM | Comments (0)
June 01, 2007
Tiffany & Co.'s Q1 Sales, Net Income Sparkle
Tiffany & Co. posted better-than-expected first quarter results, reporting a 15 percent increase in U.S. sales to $299 million.
The luxury jeweler’s income increased to $50 million from $43 million a year ago on the strength of U.S. and direct sales. International sales were also up, except in Japan.
Given the rosy results, the company raised its full-year guidance and announced plans to expand its locations and introduce new product lines.
Posted by Blacks at 11:05 AM | Comments (0)
