Global equity markets ended September’s last trading session mostly on the down side, with a few beating the trend.
In Japan, the Nikkei 225 slipped 0.9 percent to 8,870.16, while Hong Kong’s Hang Seng Index was up 0.4 percent to 20,840.38.
All of Europe’s indexes ended the week down, after a positive start to the day.
The CAC 40 in Paris led the falls, dipping 2.5 percent to 3,354.82, while the FTSE MIB in Milan fell 2.3 percent to 15,095.84. The DAX in Frankfurt dropped 1 percent to 7,216.15 while the FTSE 100 in London was down 0.7 percent to 5,742.07.
Among the factors said to be affecting investor sentiment were the release Friday of France’s 2013 budget, which included the confirmation of a 75 percent tax rate for individuals earning more than 1 million euros, or $1.29 million, a year. Meanwhile, Spain’s government said Friday that according to an independent audit, the country needs an injection of close to 60 billion euros, or $77.3 billion, to recapitalize its banking system.
It was a mostly downbeat day for fashion, luxury and retail stocks. Those that fell the most included Mulberry, down 2.8 percent to 11.19 pounds; Safilo Group, which lost 1.7 percent to 5.95 euros; Ferragamo, down 1.5 percent to 16.19 euros and Compagnie Financiere Richemont, which slid 1.7 percent to 56.40 Swiss francs.
The few risers included Brunello Cucinelli, up 0.6 percent to 13.45 euros; Inditex, which gained 0.5 percent to 96.63 euros, and Swatch Group, up 0.2 percent to 65.35 Swiss francs.
In the U.S., the Dow Jones Industrial Average fell 0.4 percent to 13,437.13, while the S&P Retail Index slipped 0.3 percent to 655.46.
American Apparel Inc. fell 7.2 percent to $1.54. Most other retailers were off as well, with Sears Holdings Corp. down 1.5 percent to $55.49 now that it’s trading over-the-counter following the spin-off of Sears Hometown.
A few managed to make some gains, such as New York & Co., up 1.4 percent to $3.75, and Gap Inc., up 1.1 percent to $35.78.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast