Well, they sure quashed that rumor! LVMH has released an official statement denying "any interest" in buying Coach. So there you have it!
Posts Tagged ‘Economy’
Louis Vuitton NOT buying Coach
Wednesday, February 4th, 2009Louis Vuitton to buy Coach?
Tuesday, February 3rd, 2009
Marc Jacobs, trimming the fat
Tuesday, February 3rd, 2009
No, he hasn't lost more weight. The Cut, is reporting that in response to the struggling economy, Marc Jacobs is not only canceling his Fashion Week after party, but he's reducing the number of invitees to his show- from 2000 to 700!
Apparently, in the past there would be 1,100 sitting and 900 standing, but now there will only be 500 to 700 sitting with only 200 standing. Those 200 will be mostly employees. When asked if any celebrities would be attending, MJ's business partner Robert Duffy responded, "There may be one or two."
I love this quote:
"Just think of how many security details are needed to save Posh Spice from asphyxiation in the photographer crush. And the number of burlies to guard the extra seat Kanye West needs for his ego — er, monogramoflauge Louis Vuitton bag."
And the Title that The Cut gave for Patrick McMullan's picture above?
"Nice knowing the half of you in the back there."
Photo Credit: The Cut
Used is the new “new”!
Sunday, January 4th, 2009
It seems that everyone's taking about the sad state of the world economy... and about how even luxury brands are being hit. But with all this talk, did you know that there's one market that is actually weathering the economic storm quite well? The Secondary Market!!!
Notice the "Google News" titles above, "Bad Economy OK for Consignments," "Consignment Business Booming in Charlotte," "Secondhand Merchandise is Up in a Down Economy."
I mean, I know you've heard me say this before- but honestly... buying used is the "new" new!!! Not only is it a green choice (reuse is a better use of our resources than even recycling!!!), but it's less painful on the pocketbook!
When money gets tight, a lot of folks are trying to figure out how to make some more cash. One way to come up with it is to take a look around the house at any items of value that aren't being used. Just post those things on eBay or Criagslist or Fashionphile- and voilà ... easy money!
We see this everyday now here at Fashionphile! We are able to not only able to help liquidate the capital from the virtual bank vaults that are some of our client's closets... but we're able to sell those bags to folks who used to buy full retail back when times were fat. Everyone's looking for a bargain now. So if the choice is buying no-name or even lower branded new bags, or scarcely worn pre-owned luxury handbags... the answer's an easy one!
So, go ahead. Sell a bag. Buy a bag. Whatever, but just remember... used is the new new!
Chanel’s feeling the squeeze too…
Saturday, January 3rd, 2009
As we saw with the cancellation of the planned Louis Vuitton Tokyo boutique- that luxury fashion houses aren't being spared in this economic mess.
Now, it looks like Chanel
All I can say is good for them for getting their affairs in order. I hope those unemployed will be able to find jobs quickly. At least it's nice that they have a stint at Chanel on their resumes.
Louis Vuitton Scraps the Tokyo Ginza Flagship Boutique
Tuesday, December 16th, 2008
(Multicolore Matsuya Department Store Ginza Shopping District)
Louis Vuitton had been weathering the whole economic downturn so well... even recording profits this October when everyone else was seeing major losses.
After seeing numbers go down in Japan, LV's scraping the ten story Ginza Flagship Boutique that was scheduled to be completed by 2010.
Story from IHT.
Louis Vuittion says: Let them eat caviar…
Sunday, November 16th, 2008
Forget cake! (Although, as you see above, Louis Vuitton has made special order trunks especially for transporting cakes!)
In these desperate times- I love the sentiment. I mean, Louis Vuitton only does special order trunks for things (or critters) that need to be moved. So next time your friends are getting together for hors d'oeuvres, you'll be able to haul your finest Almas Caviar along in its own custom fitted Louis Vuitton Taiga Carrying Case (complete with serving spoon, plates, and individual caviar spoons). Again, as the market continues to sour, Louis Vuitton clearly says, "what economic meltdown?"
Japan’s feeling the crunch too…
Friday, September 19th, 2008Totally interesting article on the "slowing" luxury market in Japan: Losing its Shine, from the Economist. Notable quotes?
"Having been stagnant for half a decade, sales have fallen dramatically this year for many brands. Hermès, Gucci, Tiffany, Chanel and Cartier have all felt the pinch. LVMH’s sales in Japan slid by 6% in the first six months. This year may be the first since the company’s arrival in Japan in 1978 in which its sales in the country go down."
"The Japanese market for imported luxury products—clothes, shoes, handbags and accessories—was worth ¥1.2 trillion ($10.2 billion) in 2007, a drop of 39% since 1996. As sales have fallen, the big labels’ market shares have increased: Louis Vuitton’s sales have almost tripled over the period, to ¥165 billion."
"Japan overflows with “parasite singles”—adults living with their parents—who are flush with money that would otherwise go on rent. As fewer women marry and have children, they have more cash to spend. All of this fuelled Japan’s strong demand for luxury goods. But as the population ages, there are fewer young, wealthy and fashion-mad customers."
"To support their sales, Louis Vuitton and Gucci have launched less expensive collections made with cheaper materials. Big brands are also opening stores in smaller cities, where the lure of the logo still works. The big question is whether Japan is an isolated example, or signals a broader shift in demand. Perhaps it is a bit of both."
This is just a really interesting read considering how influential Japan is
Read the whole article.
