American brand Nordstrom has found a way to show on physical products whether
they have been ‘pinned’ many times on Pinterest. The chain is attaching Pinterest tags to a number of shoes and bags in its shops, to show they are
popular on Pinterest. That way customers know which products are currently
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fashion designers Domenico Dolce and Stefano Gabbana have been convicted to 19
months in jail for fiscal fraud. The designers will undoubtedly appeal, so they
will not have to go to jail just yet.
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chain Esprit is equipping its online shops with virtual mannequins. Customers
can use one of three virtual models to try on any piece of clothing.
luxury company Kering (formerly PPR) is said to have its mind set on Swiss
Richard Mille. The relatively young brand of watches should cost Kering between
340 and 400 million Swiss francs (between 275 and 325 million euro) and would
fit perfectly in the plans of Kering to expand its jewellery and watch
business. In the meantime the name change of PPR has been officially approved
at the annual shareholders' meeting.
luxury brand Burberry is flourishing and so is its CEO, the American Angela
Ahrendts. She was just named the best paid CEO of Great Britain and that is a
first: never before was a woman at the top of the list.
breakthrough of 3D-printing is causing a turnaround in the production of
sporting goods. Producers such as Nike and Adidas are using the technique to
produce sports shoes faster and cheaper.
specialist Jack Wolfskin is going to collaborate with two leading research
centres to ban all pollutants from its production. By 2020 the German
company even wants to stop the use of fluorine chemistry completely. The company
will be investing about one million per year for this.
Axel Dumas (42) is the new CEO of French luxury group Hermès. Until the end of
January 2014 he will work with current CEO Patrick Thomas, who will then
retire. Dumas has to help ensure the independence of the company from ‘intruder’
fashion chain New Look is making a profit again: during the financial year 2013,
that ended at the end of March, New Look realised a gross profit of 3.1 million
pound (3.6 million euro). Last year the company made a loss of 54.5
million pound (64 million euro).
Italian lingerie and beachwear brand La Perla is getting a new chance. The
Italian entrepreneur Silvio Scaglia has bought the brand for 69 million euro at
a judicial auction. Other parties interested were Italian Calzedonia and Israeli
Australian surf wear producer Billabong is forced to sell its Canadian chain
West 49 in an ultimate attempt to stay afloat, now the final talks with a
potential candidate for a takeover have fallen through. In the meantime
management has issued another profit warning.
The French exchange commission Autorité des
Marchés Financiers (AMF) is demanding the maximum fine of 10 million euro for
luxury goods company LVMH. It has focused on the French company for the way it
has built a stake in Hermès, the French producer of luxury bags under the
brands Kelly and Birkin.
Thanks to a strong rise in shop openings – no less
than 67 in the past 12 months – the American fashion label Michael Kors has
upped its sales by 67.5% and even doubled its net profits. And the chain says
this is only the beginning…
The company behind brands such as DIM and
Wonderbra, DB Apparel, is no longer for sale. Its owner Sun Capital was hoping to make 600 million euro from the
sale, but it never found a buyer who put in a decent offer.
British retail chain Tesco
has big plans with its clothing brand F&F and wants to launch it through
franchising in countries where it currently has no hypermarkets.
Fashion group Giorgio Armani has for the first time reached a turnover of two billion euro last year: a rise of no less than
16% for the Italian group - yet another example of high-end brands that escape the global economic crisis.