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LVMH, Analysts See Luxe Rebound Near
While still faint, there is light at the end of what has been a long and dark tunnel for the luxury sector. That was the word from LVMH Moët Hennessy Louis Vuitton as it reported a 3 percent dip in third-quarter revenues and trumpeted improving trends in all its businesses versus the first half of the year. Deutsche Bank issued a bullish profits outlook on luxury goods. Top-tier jewelers have adapted their marketing efforts to suit the economic climate. Meanwhile, even though travel retail overall is a $35 billion sector, beauty executives said the industry still isn’t doing enough to entice shoppers.
Bernanke: Asia Leading Recovery
Policymakers searching for an economic engine to drive the recovery are looking beyond the U.S. consumer and toward rebounding economies in Asia. “While risks to the economic outlook certainly remain, Asia appears to be leading the global recovery,” Federal Reserve chairman Ben Bernanke said Monday at a Fed-sponsored conference in Santa Barbara, Calif. As if to underscore the point, Louis Vuitton opened a 5,300-square-foot boutique in Ulan Bator, the capital city of Mongolia. (Click to see all the store images.)
Tom Ford to Launch Women's 'Very Soon'
Tom Ford is getting ready for his return to women’s wear — the only question now is when. The designer, and now film director, finally acknowledged on the record he’s returning to the women’s arena and confirmed he and his longtime business partner and Tom Ford International chairman Domenico De Sole are on the hunt for financing.
The Jimmy Choo for H&M line, which hits some 200 H&M stores Nov. 14, is the first time the fast-fashion retailer will collaborate with an accessories brand after doing successful one-off apparel collections with the likes of Karl Lagerfeld, Stella McCartney, Viktor & Rolf, Roberto Cavalli and, most recently, Matthew Williamson. (Click to see all the images.)
Stella McCartney Designs Children's Wear for Gap
Stella McCartney is yet again expanding her brand’s reach — and her latest target audience is the grade-school set. McCartney’s first full children’s wear collections, done in collaboration with GapKids and babyGap, will be launched Nov. 2 at select Gap stores in the U.S., Canada, the U.K., France and Japan. (Click to see all the images.)
Designers Rally to Save Garment Center
Wednesday’s Save the Garment Center rally drew 750 supporters including Michael Kors, Diane von Furstenberg, Nanette Lepore and Elie Tahari onto Seventh Avenue to raise awareness of the New York neighborhood’s plight. “This will change the conversation with the city,” Yeohlee Teng said after the event. “It won’t just be about square footage anymore. It will be about issues that are more indicative of what is going on now — saving jobs, being American and cultural identities.”
Survey Forecasts Lower Holiday Spending
Holiday shoppers can be counted on to check their gift lists more than once or twice — with a sharp eye on bargains because of plans to spend less than they did in 2008, according to two new polls. Meanwhile, Coach Inc., the bastion of accessible American luxury, projected an improved holiday season despite lower first-quarter profits.
Gucci Spotlights Mary J. Blige Charity, Opens Pop-Up Shop
Gucci feted a new partnership with Mary J. Blige’s charity in Yonkers, N.Y., while preparing to open its Gucci-Icon Temporary pop-up store in SoHo. The company also unveiled its first iPhone app, aimed at entertaining and enlightening consumers with a 24-hour music channel, hotel and restaurant tips, playlists and a turntable for mixing tracks designed by the music producer Mark Ronson.
Tokyo Fashion Week Gets Under Way
Tokyo Fashion Week opened Monday with runway collections that ran the gamut from dainty to bold. The clothes from Tiny Dinosaur included a stunning trench coat and delicate dresses with abstract, kaleidoscopic bursts of color. Hidenobu Yasui worked swishy synthetics into sharp basics like wide-legged pants. And Dress33 went for a wild ride of color and texture to a disco beat.
WWD Back in Time: Judy Garland Gets Dolled Up
In March 1967, WWD spoke with Judy Garland in her New York hotel suite. The 45-year-old star — vodka tonic in hand, wearing a simple black shift, emerald earrings and a multistrand pearl necklace — seemed to be looking forward to her future. (Click to see all the images.)
Click to read the previous WWD Week In Review (10/16/09).
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