Europe Watch: Bloc Party … French Pinch … German Blues
BLOC PARTY: Zara is boosting its presence in Eastern Europe. The Spanish fast-fashion chain, part of the Inditex retail group, said it opened a 20,000-square-foot flagship in Budapest on Friday, a week after opening its first store in the...
BLOC PARTY: Zara is boosting its presence in Eastern Europe. The Spanish fast-fashion chain, part of the Inditex retail group, said it opened a 20,000-square-foot flagship in Budapest on Friday, a week after opening its first store in the Hungarian capital. Meanwhile, next Friday the chain plans to open its first boutique in Lithuania, in the capital of Vilnius. Zara has been making a concentrated push into the former Communist bloc. It recently opened units in the Czech Republic, Slovenia and Slovakia.
FRENCH PINCH: The French spent 1.4 percent less on clothes in September compared with a year ago, according to a study by the Institut Français de la Mode. The hardest hit were hypermarket operators; sales fell 9.2 percent in chains such as Carrefour and Auchan. Sales at fast-fashion stores dipped 2.3 percent in the month and sales fell 1.1 percent among independent retailers. But not everyone lost. Clothing sales at French department stores rose 5.6 percent.
GERMAN BLUES: It’s not getting any better in Germany, either. Apparel sales in the country contracted 2 to 3 percent in the first 10 months of the year, according to the German Apparel Retailers Association, BTE. Sales were down 5 percent in the same period a year ago, and retailers are worried. “Germans fear for the future,” explained Klaus Magnus, president of BTE. “They buy less.” Some are expecting a wave of consolidation as major chains, such as Karstadt, have fallen on hard times.
KarstadtQuelle Group reported huge third-quarter losses last Wednesday and adjusted its full-year forecast further downward. Third-quarter EBTA dived to a loss of 1.1 billion euros, or $1.4 billion. KarstadtQuelle pointed out that quarterly earnings were especially hard hit by special one-off factors related to the restructuring and realignment of the group. After adjusting for these special factors, EBTA for the quarter amounted to a loss of 31.1 million euros, or $39.5 million, versus 31.4 million euros, or $39.9 million, in the same period in 2003.
The firm is projecting an operating loss of 280 million to 295 million euros, or $355.6 million to $374.7 million, for 2004. Group sales are expected to fall 7 percent, compared with the 4.5 to 5 percent dip previously forecast. — Melissa Drier
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews