So, back from my August vacation two days late thanks to Hurricane Irene, to discover, at least as far as NY fashion goes, things seem pretty much business as usual — except for Marc Jacobs, who apparently has decided he has to move his show from its usual slot at 8pm Monday the 12th, to a new closing slot on Thursday the 15th at 8:30 pm, thus extending the show week for a good five hours. Apparently, needed the extra sewing time thanks to the hurricane, which reveals a lot about the last-minute nature of what goes on the runway. Read more
Prada did it. Moncler almost did it. Ferragamo is about to do it and so, at some point, is Renzo Rosso of Diesel and Brunello Cucinelli. But Giorgio Armani thinks no one should do it – and Diego Della Valle, chairman of Tod’s, has now taken him to task. “It,” of course, is a public listing, currently the trendiest way to raise funds among Italian fashion brands.
In the wake of the Prada IPO, where some investors balked at having to pay Italian taxes on their share purchases, according to Guangzhou Daily the government has announced plans to cut their taxes on luxury imports to the mainland by 2-15%. Brands all over Europe must be celebrating. Ooooooh the possibilities! The mind boggles.
Poor PPR comms team: they walked into our FT Business of Luxury conference this morning and were immediately accosted by gazillions of delegates (ok, that’s an exaggeration, but there were lots) as well as yours truly, wondering whether there was any truth to the rumours being mooted by La Tribune that PPR was getting ready to buy another luxury behemoth like Polo Ralph Lauren, Burberry, or Prada. Read more
I just got an email inviting me to a super-secret announcement over lunch tomorrow — which is rumoured to be an announcement of their partnership with Vente-Privee, the french flash sale site that was at the forefront of the current etail consumer phenomenon.
If this is true, it will be the third in a rash of investment in the latest fashion fad that began at the end of April with Ideeli’s raising $40 million of Series C funding, followed tuesday by Gilt Groupe’s raising $168 million. And you know what they say: three examples of anything is a trend. Welcome to the new internet investment bubble: shopping!
Euromonitor has a new report out, and this one’s a doozy: it says Poland is the world’s fourth fastest growing luxury market behind China. Read more
Interestingly, given all that has been written about the hoo-ha of brands placing bloggers in their front row and the supposedly retrograde reaction of the established glossy press (yikes! Barbarians at the gate! and all that) this week American Glamour has invited – and imported, on their own budget – five of the “guest bloggers” on their new “Young & Posh Blogger network,” part of their website, to Milan, to see some shows, meet some designers, and otherwise become part of the family. If you can’t beat ‘em, employee them. Read more
I’m interested in the news that Prada has decided to hold its long-postponed IPO in Hong Kong, though not only for the reason everyone else seems to be (namely that it marks the beginning of what will become a flood of western brands listing in HK). Personally, I’m more interested in what this suggests about the Chinese consumer. Read more
Which companies will get a business bounce from last night’s Golden Globes? The pictures have been sent round the world, and will play out not just today, or throughout the week in various newspapers and weekly gossip mags, but for months as other glossies re-visit celebrity looks of the year. Read more
A pretty provocative paper comes from a group of INSEAD professors, albeit with a less-than-pretty title: PERFORMANCE IMPLICATIONS OF OUTWARD PERSONNEL MOBILITY IN CREATIVE INDUSTRIES. It looks at the question of whether the talent drain in fashion houses – or the tendency of designers to occasionally jump ship – is actually, as has been posited in the past, a bad thing, and concludes….wait for it…not necessarily. Read more