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February 29, 2008
Puma Names Chalayan As New Creative Director
Puma has signed designer Hussein Chalayan as its new creative director, saying that he will bring new technology and fashion-forward thinking to the business. As part of the deal Puma has taken a majority stake in Chalayan’s self-named brand.
The designer is known for his high-concept designs and artistic execution.
Puma said that Chalayan is the first fashion designer to be creative director of a sportswear company.
Posted by Blacks at 09:53 AM | Comments (0)
February 28, 2008
PPR's Income Soars On Strength Of Gucci, Puma
French luxury group PPR reported a 34.6% jump in net income for 2007 to $1.26 billion. The results were driven by a strong performance at Gucci and the recent integration of Germany’s Puma.
Gucci ‘s operating income increased by 5.7% to $887 million with total sales of $3 billion.
PPR said that its Bottega Veneta brand also brought in strong sales. The group is still working to reach breakeven on its Yves Saint Laurent investment.
Posted by Blacks at 09:36 AM | Comments (0)
February 27, 2008
Macy's Q4 Results Outshine Expectations
Macy’s reported better-than-expected fourth quarter results this week, with earnings that were up 2.3% to $750 million.
The department store chain managed to pull out some profit despite a 6.2% decline in sales to $8.6 billion.
Macy’s has been challenged since its 2005 acquisition of May Department Stores. It pinned its recent results on tighter inventory control and the implementation of cost efficiencies.
Posted by Blacks at 09:46 AM | Comments (0)
February 26, 2008
Tse Opens New SoHo Flagship
High-end cashmere brand Tse is opening a new 2,500 square foot flagship in SoHo in the hope of building a younger customer base.
The store will feature lightweight cashmere and transparent knits for spring, starting at around $400.
The company already closed its Madison Avenue location so it could focus on the 120 Wooster Street store. The new location is expected to bring in $3 million in sales for the first year.
Posted by Blacks at 10:18 AM | Comments (0)
February 25, 2008
Oscar de la Renta To Launch Handbag Line
Oscar de la Renta has entered a deal with Wathne Ltd. to launch a new collection of handbags and small leather goods under the O Oscar name.
The deal will result in a collection of bags landing in better and specialty this July. Prices will range from $100 to $200.
Wathne previously had a license for Ralph Lauren bags but that deal ended after a 20 year relationship
Posted by Blacks at 09:59 AM | Comments (0)
February 22, 2008
Jewelery Retailer Zale Sees 31% Drop In Q2 Earnings
Zale Corp.’s second quarter earnings dropped 31% to $60.8 million after a challenging holiday season. The U.S. jeweler said same-store sales fell 7.3% and overall sales declined 5.4% to $1.21 billion.
Excess inventory is part of the problem, according to the company. Zale said it wants to reduce its excess inventory by $100 million to free up cash flow.
Posted by Blacks at 10:18 AM | Comments (0)
February 21, 2008
Women's Retail Apparel Prices Continue To Rise
Women’s retail apparel prices rose 0.6% in January, marking the third month of consecutive rises after a long period of deflation. Women’s wear prices inched up 0.6% in November and 0.5% in December.
Women’s outerwear saw the greatest price increases, posting a 4.9% jump in January while separates climbed just 0.5%.
Despite the increases, women’s retail apparel prices were still down 1.4% from last year.
Posted by Blacks at 10:10 AM | Comments (0)
February 20, 2008
EIU Lowers U.S. Growth Predictions For 2008
The Economist Intelligence Unit (EIU) has lowered its U.S. growth forecast for 2008 to 0.8% from its previous forecast of 1.5% growth.
The EIU also predicted that it will take the economy longer to recover in 2009 than originally anticipated. GDP growth for next year is expected to come in at 1.4%, down from its original estimate of 2.0%.
The revisions are based on the continued deterioration of the housing market and balance sheet adjustments in the financial sector, the group said.
Posted by Blacks at 09:51 AM | Comments (0)
February 19, 2008
Dolce & Gabbana Plans Fresh Push Of D&G Brand
Dolce & Gabbana is further emphasizing its D&G brand with higher-end designs and increased retail locations.
The company has already planned new boutiques in Los Angeles, New Delhi, Beijing and Kobe, Japan using a new retail concept. The concept is a seventies warehouse theme, according to reports.
D&G already accounts for 44% of Dolce & Gabbana’s wholesale sales and the company expects that number to grow.
Posted by Blacks at 09:43 AM | Comments (0)
February 18, 2008
Hugo Boss Loses CEO Over Management Issues
Hugo Boss CEO Bruno Sälzer is leaving the company over a difference of opinion on how to manage the fashion house. Sälzer has headed the business since 2002 and is credited with strengthening the brand’s accessories and women’s wear business.
He is reportedly unhappy with some of the demands set down by Permira, the private equity group that acquired Hugo Boss last year.
A successor for Sälzer has yet to be named.
Posted by Blacks at 09:00 AM | Comments (0)
February 15, 2008
New Ellen Tracy Owners Make Plans To Expand
Liz Clairborne has sold bridge brand Ellen Tracy to a group of business partners for $42.3 million. The brand was scooped up by Barry Sternlicht, Radius Partners LLC and Windsong Brands LLC for far less than the $180 million that Claiborne paid for it five years ago.
The new owners plan to reinvigorate and expand the brand with a new designer and added retail locations in the U.S. and abroad.
Ellen Tracy currently reaps $100 million in volume a year.
Posted by Blacks at 09:53 AM | Comments (0)
February 14, 2008
January Retail Sales Outshine Expectations
January retail sales were better than expected, according to figures released by the U.S. Commerce Department this week. Sales at apparel and accessory stores grew 1.4% from December. This compared to a 0.1% drop in January of last year.
Department stores fared worse, reporting a 1.1% decline from December. However, this figure was still better than the 4.8% slide posted a year ago.
Economists predict that first quarter sales will continue to be tough but that the market will pick up in the second half of this year.
Posted by Blacks at 09:59 AM | Comments (0)
February 13, 2008
J.C. Penney, Ralph Lauren Launch New Brand
J.C. Penney’s and Ralph Lauren are about to rollout a new line called American Living. The line includes women’s wear, menswear, children’s clothes, footwear and home products. It will initially debut in 600 J.C. Penney stores and is predicted to bring in $1 billion in annual sales within 5 years.
Penney’s forged the deal with Ralph Lauren’s new Global Brand Concepts, a division dedicated to developing non-Ralph Lauren branded product to exclusive retailers.
Pricing on the classically-styled American Living merchandise is moderate with polos selling at about $45 and suits going for $425.
Posted by Blacks at 10:45 AM | Comments (0)
February 12, 2008
Scoop Appoints Retail Consultant As New CEO
New York-based women’s wear chain Scoop has named retail consultant Melanie Cox as its new president and CEO. Cox has worked with Cerberus Capital and Prentice Capital as a retail investment expert.
She will be charged with growing the brand both nationally and abroad.
Scoop already has 15 stores in the U.S. and recently opened a new location in Greece. Plans for a London store are also in the works.
Posted by Blacks at 09:55 AM | Comments (0)
February 11, 2008
De Beers 2007 Sales, Profit Loses Some Sparkle
Diamond giant De Beers experienced a 2.8% drop in sales last year to $7 billion while profits slid 7.1% to $486 million. The company said that production levels were flat with 2006 at 51.1 million carats.
There was little increase in demand for diamonds in the U.S, although independent high-end jewelry stores performed better than most, the company said. De Beers saw a greater increase in demand in China, the Middle East and India.
Posted by Blacks at 09:17 AM | Comments (0)
February 08, 2008
Luxury Market Remains Strong For Hermès
Fourth-quarter sales at Hermès International climbed 10% to $746 million. The French luxury brand cited strength is the U.S. and Europe with strong demand for its fall/winter collections.
Scarves, neckties, handbags and jewelry also performed well.
Hermès said that it continued to see sales increases in January and predicted that 2008 would be another successful year for the company, with growth estimated at around 10%.
Posted by Blacks at 09:59 AM | Comments (0)
February 07, 2008
Hugo Boss Reports Profit, Sales Surge In 2007
Net profit at Hugo Boss surged 20% in 2007 to $211 million, driven by the strength of retail, women’s wear, shoes and accessories.
Company-owned retail grew 25% to $328 million while sales of women’s wear rocketed 29% to $287 million.
Total group sales increased 9% to $2.2 billion. The German apparel company predicts continued strong growth in 2008.
Posted by Blacks at 09:56 AM | Comments (0)
February 06, 2008
Raf Simons To Design Capsule Collection for Fred Perry
Jil Sander designer Raf Simons is designing a capsule men’s collection for British brand Fred Perry. The line consists of 13 pieces that will be available for fall.
The capsule collection includes polo shirts, turtleneck sweaters and wool trousers in the better price range.
The collaboration replaces Fred Perry’s previous menswear deal with Comme de Garçons. Simons has agreed to design for the brand for at least two seasons.
Posted by Blacks at 12:15 PM | Comments (0)
February 05, 2008
Polo Ralph Lauren Plans Greenwich Flagship
Polo Ralph Lauren is planning to open a two-level store in Greenwich, Conn. that could take up as much as 20,000 square feet.
The store will be located in Gap’s old spot on Greenwich Avenue and will most likely feature the designer’s women’s and men’s collections, among other Lauren lines.
Polo Ralph Lauren has a long history in the Greenwich area and already has a Rugby store on Greenwich Ave. The new store is expected to be a flagship location.
Posted by Blacks at 10:05 AM | Comments (0)
February 04, 2008
H&M Posts Double-Digit Growth In Fourth Quarter
While economic worries have taken a toll on middle market retailers, fast fashion chain Hennes & Mauritz seems to be having no trouble driving sales.
The Swedish company’s fourth-quarter profits grew 14% to $950 million while sales increased by 17% to $3.48 billion. For the full-year ended Nov. 30, profit increased 21% to $2.83 billion.
H&M said that it benefitted from strong sales in Eastern Europe and China.
Posted by Blacks at 09:37 AM | Comments (0)
February 01, 2008
Balenciago Opens Futuristic London Flagship
Balenciaga opened its new London flagship, tying together a space age interior with a conservative brick storefront. The 1,900-foot Mount St. store features padded walls and ceiling lights resembling a constellation of orange stars.
The new door will feature fashion-forward women’s ready-to-wear and accessories.
Balenciaga is planning to open even more locations this year, including stores in L.A., Tokyo and possibly Paris.
Posted by Blacks at 09:33 AM | Comments (0)
