Industry Highlights – Prada Sales Climb, Team Dismissal, Esprit CEO, River Island New York, “Ghost Town” London

Posted on August 7, 2012


Prada Bucks Economy as Sales Climb 36.5%

“Prada Group is the latest luxury firm to sail smoothly through the world’s turbulent economic waters.” (WWD)

Bill Blass Sacks Entire Women’s Design Team

“BILL BLASS LIMITED has dismissed the entire of its womenswear team, including creative director Jeffrey Monteiro – who has worked at the brand’s helm since 2009.” (Vogue UK)

Esprit Appoints Inditex Executive as CEO; Shares Surge

“Struggling fashion house Esprit appointed an executive from rival Inditex as its new chief executive on Tuesday, driving its shares 18 percent higher just two months after the resignations of its chairman and CEO had wiped nearly a third off its market value.” (CNBC)

River Island to take Manhattan

“River Island, the UK fashion chain, is plotting to open its first store in the US. The retailer, which has nearly 300 stores at home and abroad, including Singapore, is considering opening in New York’s Manhattan next year and has conducted early-stage due diligence on possible sites. This would see it follow in the footsteps of Topshop, which launched in the Big Apple three years ago.” (The Independent)

Traffic scare may affect luxury sales in Central London

“The UK Prime Minister has urged people over the weekend to “come back into the capital”, following claims that the 2012 Games had turned London into a “ghost town”, with commuters and non-Olympic tourists avoiding the city. David Cameron said the “threat of meltdown on the traffic system” had been defeated and London was “open for business” during the sporting events.” (CPP)

Posted in: Industry News