Tuesday, 27 December 2011

Prada Slump after Prada heads to China.

Salvatore Ferragamo store Huhehaote China | Source: Moda Online
From the awesome blog, Business of Fashion

16 December, 2011 | by BoF Team

BoF Daily Digest | Caution in China, Prada slump, Fashion week flare up, H&M sales lag, Julia Restoin-Roitfeld

Luxury brands turn cautious on China (FT) 
“Watching three malls open within a square mile over the past year and a fourth preparing to follow, all with their share of luxury boutiques, Beijingers may think that soon their city will have as many Louis Vuitton and Salvatore Ferragamo stores as bank branches or McDonalds restaurants. But things might be on the verge of changing.”
Prada Poised to Extend Slump as China Shoppers Cut Back (Bloomberg)
“Prada is falling out of fashion six months into its Hong Kong trading debut as investors brace for Chinese shoppers to curb spending. Shares of the maker of $2,000 bags and Miu Miu shoes, which gets more than 42 percent of sales from Asia, have dropped 34 percent from its July peak.”
Paris Reignites Brouhaha Over Fashion Schedule (The Cut)
“After Milan, London, and New York finally compromised on their respective Fashion Week dates for 2013 and 2014, France’s Chambre Syndicale — which has been relatively quiet on the matter until now — announced that they’re unhappy with the proposed arrangement.”
H&M Nov comparable sales lag consensus (Reuters)
“Sweden’s Hennes & Mauritz, the world’s second-biggest apparel retailer, posted on Thursday a one percent drop in local-currency turnover at established stores in November, missing a consensus forecast for a narrow rise.”
Building an Empire of Her Own (NY Times)
“It’s a distinctive pedigree, all right, lofty enough to have secured the younger Ms. Roitfeld a flurry of modeling gigs, invitations to the coolest parties and the fawning attention of scores of bloggers. But not lofty enough, evidently, for Ms. Roitfeld herself. ‘I want to be known as me,’ she insisted the other evening… ‘I want to be known for what I can do on my own.’”
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