FINANCIAL
Tuleh Label Might Shutter FINANCIAL, LABEL, MAIN 02.08.10
Rumor has it that the Tuleh label might soon shutter. The news comes after Tuleh canceled their fall 2010 runway show. The reason that they may close shop is because Tuleh isn’t currently meeting the demands of its creditors. Trilea Holdings Inc, their former creditors, have reported that they have ceased to invest on Tuleh. [...]
LVMH Suffers Declines in 2009 FINANCIAL, LABEL, MAIN
Moet Hennessy Louis Vuitton has suffered declines in net profit and annual sales in 2009. Though the net sales fell one percent, or $23.48 billion dollars, LVMH insisted that the results were considered “the soundness of its strategy in 2009.” The profit numbers had gone down eight percent at $2.78 billion dollars this past year. [...]
Burberry Wins Counterfeit Lawsuit FINANCIAL, LABEL, MAIN 01.21.10
British label Burberry has won a counterfeit lawsuit versus Designer Imports. The settlement, which took place in the U.S District Court in Manhattan, awarded Burberry the sum of $1.5 Million dollars. In 2005, Burberry had sued Designer Imports, an online retailer and importer, which led them to stop selling fakes. Initially, Burberry had been seeking [...]
Yohji Yamamoto Closes Two Stores FINANCIAL, LABEL, MAIN 01.18.10
Due to the continuing economic struggle in the fashion industry, Yohji Yamamoto has closed two stores. The stores that have shuttered are both located at New York City. This may be the result of Yamamoto’s label filling for bankruptcy protection last October. The house had also closed their US press office last year. Though the [...]
Hussein Chalayan Buys Back Stake From Puma DESIGNER, FINANCIAL, LABEL, MAIN 01.11.10
Designer Hussein Chalayan has recently bough back the majority stake of his own label. Due to financial issues, he had sold Chalayan to Puma in February 2008. Hussein Chalayan will continue to oversee design, creation, and development in Puma as Puma’s Creative Director. Chalayan will now independently manage and have full control of his label [...]
Prada May Sell Minority Stake FINANCIAL, LABEL, MAIN 01.06.10
Though Prada has been managing their debt quite successfully, rumors have resurfaces that indicate that the label may sell a minority stake. The buyers of the stake may be Richemont, owners of Cartier and Montblanc, are in deep talks to buy one third of the company. This could be good and bad news for Prada [...]
Macy’s Closes Five Stores FINANCIAL, MAIN, RETAIL
Macy’s has announced that they will be closing five of their stores due to poor store performance. The location for these stores are located n Waterford, MI, St. Ann, MO, Missoula, MT, Burlington, NJ, and Boise, ID. Terry Lundgren, Chairman of Macy’s, said in a statement release, “We are committed to maintaining a healthy portfolio [...]
Hugo Boss Closes Cleveland Plant FINANCIAL, LABEL, MAIN 01.03.10
On a bumpy global economic recovery, the fashion industry has taken a big hit. We’ve even experienced the legend Lacroix close down. Now, the Hugo Boss house has announced that they will be closing down their Cleveland plant. The worst news is that approximately 300 employees will be laid off, about one-third of Hugo Boss’s [...]
Fashion Label Phi to Shutter FINANCIAL, LABEL, MAIN 12.21.09
Chief executive officer of Phi, Julia Hansen, has announced that the label will be closing shop due to economic conditions. Phi was established in 2003 by Susan Dell, Michael Dell’s wife. Julia Hansen stated, “It’s a really challenging climate right now for luxury goods. There is not so much confidence in that market going forward.” [...]
Christian Lacroix’s House To Close Down DESIGNER, FINANCIAL, MAIN 12.02.09
After the Ajman Sheikh failed to rescue the Lacroix label, a French court agreed on a restructuring plan. This means that Christian Lacroix’s couture, ready-to-wear, and retail operations will have to be shut down. The good news (if any) is that the label will be involved with licensing deals, including haute couture. Who knows, but [...]
Lanvin Finds New Investor DESIGNER, FINANCIAL, MAIN 11.27.09
After many years of searching for an investor, it looks like Lanvin has found one. At the time Lanvin has not revealed who it is. “The Lanvin group has received an injection of capital from an investor with a long term perspective, through its parent company Arpege SAS.” Sources estimate that the money injection may [...]
