LONDON — Europe and Asia’s indexes were largely down in morning trading on the heels of yet more discouraging economic data.
Britain’s Office of National Statistics said today that the country’s rate of unemployment rose to 7.9 percent in the three months to June, a bigger than expected rise, meaning that 2.5 million people in the country are unemployed. In addition, the number of people claiming unemployment benefit rose by 37,100 between June and July, the largest monthly increase since May 2009. The FTSE 100 was down 0.7 percent, while the DAX was down 1.1 percent and the Nikkei 225 closed down 0.55 percent. The CAC 40 had crept up by 0.3 percent. The falls came after Angela Merkel and Nicolas Sarkozy’s meeting Tuesday did not reveal immediate measures to resolve the European debt crisis, and the leaders of Germany and France rejected the idea of issuing debt backed by all Euro zone countries, in the form of Euro bonds. A number of luxury stocks were down in morning trading, including Prada, which fell 3.5 percent and Hermes, which fell 0.7 percent. But conversely several firms’ shares had inched up, too — LVMH was up 0.9 percent, L’Oreal was up 0.4 percent and Ferragamo had risen 2.9 percent.
Mary J. Blige will be featured in ads for her friend, designer Dennis Basso. Of Blige, Basso tells WWD’s Rosemary Feitelberg, “She’s a modern day woman, extremely talented, very beautiful and she represents a powerful woman.” #wwdnews
Just In: In September, @bottegaveneta will be skipping a runway show. Instead, newly-appointed creative director Daniel Lee will make his debut for the brand in Milan next February. Lee succeeded former creative director Tomas Maier, who held the position for 17 years. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
The Gucci-Dapper Dan lineup, which launched today, reimagines archival pieces of the designer — especially tracksuits and jacket styles — in Gucci’s signature fabrics and decorative elements. Gucci leitmotifs, including embroidered dragons, bold letterings and the house’s signature green and red stripes, stand out on bomber jackets, T-shirts and tanks, in addition to tracksuits, which are offered in GG-printed nylon and velour. A new yellow Gucci logo also makes its appearance, inspired by the original sign of Dan’s Harlem store, reports @sandrasalibian. (📸: @ari_marcopoulos_official ) #wwdfashion
Candice Swanepoel’s line, Tropic of C is one of many modern, chic swimwear brands that use Econyl, a fabric made from regenerated nylon that is rescued from things like fishing nets, carpets and plastic landfills and remade into textiles for apparel and carpets. Other swim brands using Econyl include All Sisters, Mara Hoffman, Araks, Adidas and Volcom, to name a few, reports @jessiredale. Read more on sustainable swimwear on WWD.com. Styled by @elmercer (📸: @chrismiggs) #wwdnews
As the veil lifts on the topic of feminine care, modernized vagina-centric products such Queen V The Spritzer Rosewater Spray and vibrators from Smile Makers and Dame Products are growing in availability report @_a_collins and @ellenbthom. Read more on WWD.com #wwdbeauty (📸: @joshuascottphoto)