The week's top stories for the week ending Sept. 18, 2009.
New York Fashion Week Wraps Up
Gaga for Marc Jacobs
London Fashion Week Preview: Ones to Watch
Uniqlo’s Yanai Outlines Expansion
As if growing Fast Retailing Co. Ltd.’s sales seven-fold to $54 billion by 2020 wasn’t an ambitious enough target, company chairman and Uniqlo founder Tadashi Yanai said he’s got bigger plans: to revolutionize the way consumers buy clothes
. To that end, Uniqlo, a brand known for innovations such as selling T-shirts in plastic tubes and creating a fabric that retains body heat, is going global. Yanai said Uniqlo plans to open 100 to 200 stores a year outside Japan
Beyoncé Plans Fragrance Launch for Spring
Sasha Fierce has finally succumbed to the temptations of the celebrity fragrance game: Beyoncé Knowles has signed a deal with Coty Inc. to produce her own perfume
. Beyoncé’s fragrance — which will be sold in department stores globally — is scheduled for a spring launch in the Americas, followed by the rest of the world in fall 2010. The deal could be worth up to $20 million for the singer over the next three years, sources estimated. Meanwhile, Abercrombie & Fitch Co. wants to block any fragrance launch under the Sasha Fierce name
, alleging that a scent with that label would infringe on its own Fierce cologne trademark.
Lauder to Close Prescriptives Division
In a long-speculated move, the Estée Lauder Cos. said it will shutter the retail distribution of its 30-year-old Prescriptives brand
by Jan. 31. Prescriptives, introduced in 1979 and sold in five countries, is the first major Lauder-conceived and -built brand ever to be closed. It also is the first decisive move in managing the beauty company’s sprawling portfolio of 29 brands.
Hilfiger Mega-Flagship Arrives on Fifth Ave.
For a designer, nothing says you’ve made it quite like a flagship on Fifth Avenue and after nearly 25 years in business, Tommy Hilfiger’s 22,000-square-foot store
at 681 Fifth Avenue opening today clearly conveys the message he’s arrived. “This is a pinnacle moment because everything seems to be working,” the designer said at the four-level flagship, where construction workers rushed over the weekend to put the finishing touches on the facade, dressing rooms and displays. (Click to see all the store images
.) Meanwhile, big-box stores known for value are reeling in affluent consumers
, according to a new study.
Study: Vuitton Scores Highest Value in Luxe
Evoking a feeling of trust among consumers is a key reason luxury brand Louis Vuitton has scored the top value
, $21.12 billion in projected annual cash flow, among global, publicly held fashion players in Interbrand’s new annual report, “Best Global Brands 2009.” Fashion brands in the luxury sector — including Vuitton, ranked 16th; Gucci, 41st, with a value of $8.12 billion; Chanel, 59th, $6.04 billion; Hermès, 70th, $4.59 billion; Prada, 87th, $3.53 billion, and Armani, 89th, $3.3 billion — dominated the style portion in the brand consultancy’s top 100.
Venice Gives Tom Ford Film Thumb’s Up
WWD Back in Time: Lagerfeld, Versace and Lacroix
Click to see the previous WWD Week in Review (9/11/09).