Big Change at Gap Inc.: Tough CEO Search Ahead As Pressler Pushed Out

The world economy is forecast to grow by 3.2 percent in 2007, compared with 3.8 percent last year, and the weakening of the U.S. housing market is a major factor in the slowdown, a United Nations report said.

U.S. and South Korean negotiators completed their sixth round of talks for a free trade agreement in Seoul on Friday, with a deadline still looming and many issues to be resolved.

Foreign direct investment in China in 2006 fell by 3.3 percent, to $70 billion, while the U.S. regained the top spot as the world’s most attractive country for foreign investment, according to a United Nations report.

Texworld USA has outgrown its first home. Messe Frankfurt, which organizes the show, announced that Texworld USA will move to the Jacob K. Javits Convention Center in New York for its third show taking place July 17-19.

Prada’s Miuccia Prada and Patrizio Bertelli have long been known to cater to women looking to dress up for work. But now the two increasingly want to cater to a woman’s down time as well with their line Prada Linea Rossa.

A group of fashion companies here is harking back to the Renaissance with its support for the arts and architecture.

With global warming taking its toll, dressing for the elements is almost a daily lottery.

After experiencing a rebound in sales last year, high-end yarn spinners expect to keep the momentum going with the launch of new luxury and performance yarns at next week’s Pitti Filati.

At the National Retail Federation conference here last week, retailers in growth mode emphasized the importance of well-chosen technology to analyze trends and respond swiftly to new opportunities.

Jean Muir, the 40-year-old London fashion house famous for its matte black and navy jersey knits and feminine shapes, will close in the spring.

Goody’s Family Clothing named Charles “Chuck” Turlinski chief executive officer on Monday, rounding out the retailer’s new management team.

A day after he laid out $1.28 billion, for 5 percent of the BTP Vinci construction business, French entrepreneur Francois Pinault, who owns Gucci Group, on Friday said current market conditions precluded him from making a play for French utilities…

For his latest retail statement in the midst of couture week here, Giorgio Armani is taking high fashion’s exclusive, personalized nature to heart.

Procter & Gamble Co. jumped into the red-hot dermatological skin care business Monday by disclosing that it has acquired HDS Cosmetics Lab Inc., the marketer of Doctor’s Derma­tologic Formula, or DDF, skin care.

Gen Art, which will hold its show on Feb. 2 at the Waterfront at West 27th Street and 11th Avenue here, is forgoing the runway for what it calls The New Garde.

Watchmaker Swatch Group AG posted a 12.3 percent jump in 2006 sales, reached more than 5 billion Swiss francs for the first time.

Dries Van Noten has fired the latest salvo across the bow of cookie-cutter luxury stores with his first shop here, located in a Left Bank neighborhood better known for flogging antiques than cashmere sweaters.

Is Chanel getting into the furniture business? Not quite. But the French fashion house has commissioned furniture maker Domeau and Peres to produce an armchair designed by Fabrice Hybert that is quilted red leather and inspired by a Swiss Army knife.

The stars exchanged Hollywood awards madness for the mountains of Utah and the Sundance Film Festival over the weekend, but the partying remained in high gear.

Anna Faris knows all too well about Hollywood typecasting. After finding fame in the horror spoof franchise “Scary Movie,” she’s found it hard to break out of her self-described “spoof girl” mode.

Sundance darlings Catherine Keener and Ellen Page are back this year, playing a mother of six and a teenage girl left in her care, respectively, in the gritty in-competition drama “An American Crime.”

Gap Inc. is looking for a merchant prince to work some retail magic.

Donna Noce, president of AnnTaylor Corp.’s underperforming Loft division, has resigned, the company said Monday.

As 25-year-old Jared Kushner’s ownership of The New York Observer nears the six-month mark, staffers and readers alike are still waiting to see what lies ahead for his new prize.

Tween Brands announced on Monday the departure of William May Jr., executive vice president and chief operating officer at the preteen apparel retailer.