Posted by Barry Silverstein on September 13, 2012 05:03 PM
It may not yet be a major earthquake, but there seem to be rumblings that luxury goods are undergoing some sort of seismic shift.
As Fashion Week was at its height in New York, instead of watching hemlines fashionistas were watching stock prices, as luxury apparel maker Burberry saw its shares drop over 20 percent Tuesday on issuing its first profit warning since 2008. It was an especially bitter pill to swallow for a brand that in January was named "International Retailer of the Year" and, in April, took the mantle of greatness from a bankrupt Aquascutum.
Bloomberg Businessweek labeled Burberry's slide as "an end to a three-year rally in the luxury-goods industry as wealthy shoppers cut back on past indulgences." While Burberry's report may have helped pull down shares of luxury giant LVMH and other luxury brands such as Prada and Richemont, it does appear demand for luxury goods has been softening recently.
Harry Winston indicated last week that there was lower interest in its luxury products, and last month, Tiffany projected lower profits for the year. Stacey Cartwright, Burberry's CFO, told Bloomberg Businessweek that she had spoken with other luxury goods marketers. "We know we are not alone in terms of what we've seen in the last couple of weeks," she said.Continue reading...
brand vs. brand
Posted by Barry Silverstein on April 18, 2012 03:01 PM
Since the 1850s, two venerable brands associated with the famous British trench coat, Aquascutum and Burberry, have managed to keep pace. But now "A" has given way to "B": Aquascutum, whose clothing was once worn by the likes of Winston Churchill and Margaret Thatcher, has filed for bankruptcy, even as Burberry's star continues to rise.
At one time, Aquascutum — the name was derived from the Latin words for "water shield" — was a storied brand. While the company's claim that it invented the trench coat is disputed by Burberry, Aquascutum coats clothed British soldiers in the trenches of the Crimean war and World War I. Explorer Edmund Hillary and sherpa Tenzing Norgay sported Aquascutum fabrics during their trek up Mt. Everest in 1953. The 1994 and 1996 British Olympic teams wore uniforms made by the company. King Edward VII, as well as actors Humphrey Bogart, Greta Garbo, Cary Grant, Sophia Loren, and Peter Sellers, all wore its clothing, according to Aquascutum.
But that was in bygone days. Of late, the brand simply could not be competitive. According to a company statement, "The senior management team have worked tirelessly to develop and build the Aquascutum brand. The challenging conditions in the U.K., however, have unfortunately meant that the team have been unable to successfully turn the business around which has ultimately resulted in its administration." (Administration is the British form of bankruptcy.)Continue reading...
Posted by Shirley Brady on September 9, 2011 09:00 AM
Green Bay Packers defend title to win NFL kickoff game, while Bud Light kicks in as NFL sponsor, and Coors Light debuts new campaign.
President Obama presents $447 billion jobs stimulus plan to tough audience.
American Apparel search for plus-size models backfires.
Aquascutum among brands finding new life in China.
Bank of America could shed up to 40,000 jobs.
Facebook complaints can't get an employee fired, judge rules while site adds five languages.
John Galliano found guilty in anti-racism case.
Glenn Beck launches web TV network.
Google details electricity usage.Continue reading...
Posted by Shirley Brady on July 31, 2011 09:00 PM
The White House and Republicans in Congress have reached a deal to raise the debt ceiling, agreeing to about $1 trillion in cuts over the next 10 years to lower the deficit and prevent the first government default in U.S. history.
HSBC plans global layoffs as banks sells 195 U.S. branches to First Niagara for $1 billion.
PBS plans to launch a digital TV channel in the U.K. as network's president talks it up to TV critics.
Airbnb sees another crime victim come forward as suspect is arrested in first incident.
Alibaba resolves dispute with Yahoo.
Apple's Taiwan vendor FoxConn to replace workers with robots, while iPhone rises, iPad tops tablet brand survey for customer satisfaction, and iPod sinks.Continue reading...
Posted by Stephanie Startz on September 18, 2009 09:03 AM
Citi's Vikram Pandit admits embarrassment, excess over trader's $100 million payday. [Times of London]
Interbrand announces 100 Best Global Brands for 2009. Leaders are Coca-Cola and IBM, Google is fastest growing, but the overall pie shrinks. [AP]
Google picks up part of the Yahoo! model, with display ads built around AdWords. [NY Times]
Media barons Murdoch and Berlusconi in suit over access to Italian ad market. [BBC]
Amazon quietly moves to become a general retailer, with the expansion of a private label. [WSJ]
(More headlines: Barclays, Pringle, London Fashion Week, Pastor Rick Warren)Continue reading...
Posted by Andrea D'Alessandro on September 8, 2009 06:22 PM
Aquascutum prides itself as a brand that claims to represent "Understated British Elegance." Nevertheless, it has been owned since 1990 by Japanese textile company Renown.
Now, with the brand apparently crumbling, fashion entrepreneur Harold Tillman has bought the 158-year-old label, known for its water-resistant gear (mainly trenchcoats).
While Aquascutum’s biggest market currently lies in Asia, there is great potential for it to reclaim its place on British shores. This classic label tells a rich story, steeped in British history, outfitting soldiers during the Crimean war and leaders like King Edward VII and Winston Churchill. Continue reading...
Posted by Peter Feld on September 8, 2009 09:06 AM
Obama attempts to rebrand health care reform proposals. [WSJ]
Switzerland ousts US as the world's most competitive economy in the annual World Economic Forum global survey of business leaders. [AP]
Deutsche Telekom and France Telecom to combine their struggling T-Mobile and Orange UK operations, creating the country's largest wireless provider. [NYT]
Google defends its Books Registry plans to digitize copyrighted but out-of-print books at a European Commission hearing. [NYT]
Kraft fights to take over Cadbury. [FT]
Unilever's China plans target growth rather than profits. [WSJ]
Jaeger chief Tillman's purchase of Aquascutum from Japanese giant Renown restores British ownership of the 158-year-old fashion brand. [Guardian]
Oof! In China, two Wal-Mart employees are fired after beating a suspected shoplifter to death. [AP]
(More headlines: Pret A Manger, Pearson, Harvard University.) Continue reading...