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July 29, 2008
Consumer Confidence Rebounds In July
Consumer confidence rebounded in July, after a six month slide. The Conference Board’s consumer confidence index notched up nearly 60 points in the month thanks to stabilization in oil prices.
This is a great improvement over June, when the Index reached its lowest level in 16 years. However, confidence levels are still just half of what they were a year ago.
Posted by Blacks at 09:21 AM | Comments (0)
July 28, 2008
Topshop Believes In Strength Of Premium Denim
Even though most retailers have seen a slowdown in premium denim, Topshop still believes enough in the category to launch a premium denim area in its London and soon-to-open New York stores.
The trendy British retailer said that customers are willing to invest in a $200 pair of jeans, and couple them with some of its more affordable pieces.
This is counter to the trends we have been seeing in the category over the past few seasons, but there could be an upswing on the horizon. We’re eager to see how Topshop fares with the experiment, especially in New York.
Posted by Blacks at 09:09 AM | Comments (0)
July 24, 2008
Fed: U.S. Economy Continues To Slow
Economic activity continues to be weak across the U.S., according to the latest Fed report. The economy is being stunted by high fuel and food costs, the Fed said.
Analysts are now predicting that the Fed will keep interest rates steady at 2% to keep inflation at bay.
The report contained little positive news about the economy saying that the housing market still faces declines, along with tourism and the manufacturing sector.
While the Fed report did not give an outlook for the remainder of the year, here at Blacks, we predict a slight uptick in the second half. Retail cycles typically last 18 to 24 months and we've been in this down cycle for almost two years, meaning it's time for an upswing.
Posted by Blacks at 10:29 AM | Comments (0)
July 23, 2008
Hermès Shakes Off Slowdown With Strong Q2
Hermès International's second-quarter sales jumped 12.1% to $622 million, compared with sales of $479 million a year ago.
The French luxury firm said that it saw strong sales across all regions except Japan.
Demand for leather goods was especially strong and fragrance sales were up 28%, the company said.
Riding on the rosy results, Hermès said that it plans to open 25 new stores in the coming year, including locations in China and Hong Kong.
Posted by Blacks at 10:21 AM | Comments (0)
July 22, 2008
Renzo Rosso Takes Stake In Viktor & Rolf
Diesel owner Renzo Rosso has taken a majority stake in Viktor & Rolf, saying he wants to make it a top design house. In addition to building out the Dutch designers' ready-to-wear line, Renzo hopes to rollout a series of branded boutiques as well as licensed eyewear and jewelry.
Financial details of the transaction were not disclosed.
Renzo has invested in another European design firm, Maison Martin Margiela, with success. His work with Belgium's Margiela convinced Viktor & Rolf that he was an able partner.
Posted by Blacks at 09:18 AM | Comments (0)
July 21, 2008
Neiman's Adds Newton To The Cusp
Neiman Marcus is continuing the rollout of its Cusp contemporary stores with the addition of a new door in Chesnut Hill, right outside of Boston.
Neiman's introduced the Cusp concept two years ago, with the hopes of luring younger customers.
The Chesnut Hill location, located in the affluent town of Newton, boasts 5,950-square feet and is slated to open Aug. 28. It will feature contemporary women’s wear, jewelry, accessories and cosmetics.
A sixth location is due to open in Chicago later this year.
Posted by Blacks at 09:08 AM | Comments (0)
July 17, 2008
NRDC Snaps Up Canadian Retailer Hudson Bay Co.
NRDC Equity Partners just bought Canadian retailer Hudson Bay Co., opening the door for NRDC to expand its Lord & Taylor assets further north.
Hudson Bay owns several retail operations, including Bay department stores and Zellers, a discount chain. The purchase gives NRDC the opportunity to convert some key Bay units to Lord & Taylor operations.
The equity firm also announced that it has appointed former Ralph Lauren Corp. exec Jeff Sherman to lead Hudson Bay Co. Sherman has held the title of CEO of Polo Retail Group as well as CEO of The Limited stores.
Posted by Blacks at 10:38 AM | Comments (0)
July 14, 2008
Alexander McQueen Offers Fall Collection Online
Consumers can now buy their Alexander McQueen goods online at the designer's Website, www.alexandermcqueen.com. The site has new e-commerce capabilities for U.S. customers with plans to launch international sales in coming months.
The site currently offers McQueen's fall collection and Manhattan customers can even get same-day delivery if they order before noon.
It will be interesting to see if online availability affects sales at retail locations, or if McQueen is opening the door to a previously untapped market.
Posted by Blacks at 07:15 AM | Comments (0)
July 10, 2008
Cavalli: Conditions Aren't Right For A Sale
Roberto Cavalli has decided to cancel the sale of his fashion label because he doesn't believe that current market conditions would generate the right price.
The sale was advised by Merrill Lynch, which said he could expect over $2 billion for the asset. However, Cavalli said that the stock market crisis has caused bidders to lower their expected offers.
The sale is now put off indefinitely.
Posted by Blacks at 09:03 AM | Comments (0)
July 08, 2008
Matthew Williamson To Open First U.S. Store
British designer Matthew Williamson is opening his first U.S. flagship in New York's meatpacking district early next year. The 2,500-square-foot space will be located on West 14th St., alongside designer outposts for Alexander McQueen and Stella McCartney.
Williamson opened his first store in London in 2004 and is now slowly branching out. He also serves as creative director at Emilio Pucci.
Posted by Blacks at 03:05 PM | Comments (0)
July 07, 2008
Louis Vuitton Opens Shop in Chicago Nordstrom
Louis Vuitton has opened a shop-in-shop in Nordstrom's Michigan Ave. store, in the heart of Chicago. The 2,000-square-foot shop offers leather goods, accessories and shoes on Nordstrom’s main floor.
The department store partnership is new for the French luxury brand, but fits into Vuitton's strategy of strengthening exposure across all product categories.
However, no further shop-in-shops are planned at this time. Vuitton is likely to measure results from the Nordtrom deal before branching out.
Posted by Blacks at 09:12 AM | Comments (0)
July 03, 2008
Adidas Opens Largest Flagship Yet In Beijing
Adidas opened a massive store in Beijing this week, a month before the Olympic Games are to begin in the Chinese capital.
The new 34,000-square-foot flagship is Adidas's biggest retail outlet in the world, spanning four floors. It carries everything from men's, women's and children's footwear to Performance wear, Originals and its Y-3 collaboration.
Adidas is an Olympic sponsor and plans to reap serious brand awareness from its presence there. The Beijing store is part of a larger worldwide rollout that will include 1,000 additional stores opened by the end of 2010.
Posted by Blacks at 10:30 AM | Comments (0)
July 02, 2008
Cavalli Inks Deal To Boost Menswear Line
Roberto Cavalli is looking to boost the profile of its menswear collection through a new licensing agreement with Gibo. The five-year deal will begin with Cavalli's fall 2009 collection.
Under the deal, Cavalli expects to increase its distribution to over 250 locations worldwide. The menswear line is currently in 29 Cavalli stores in the U.S. and 100 international locations.
Gibo already holds licenses for power brands such as Marc Jacobs, Viktor & Rolf, Michael Kors and John Galliano.
Posted by Blacks at 10:40 AM | Comments (0)
July 01, 2008
Chalayan To Release Pre-Collection, Footwear Line
Designer Hussein Chalayan is releasing a pre-collection for spring 2009 consisting of ready-to-wear and shoes. What's more, the famed Turkish/British designer has plans to extend the footwear collection in fall/winter of 2009.
Chalayan's design business was bought by Puma earlier this year, giving it a cash injection. At that time Chalayan was also named creative director of the activewear firm.
Posted by Blacks at 09:28 AM | Comments (0)
