Kenzo x H&M will be all about diversity, with Iman and Chloe Sevigny set to star in the campaign by photographer Jean-Paul Goude. Ex-BHS boss to lead women's fashion retailer LK Bennett. Image copyright Getty Images The former boss of collapsed retailer BHS will take over as chief executive of British fashion chain LK Bennett.
Darren Topp has been appointed to lead the business, which counts the Duchess of Cambridge among its customers. It also provided Theresa May with her signature leopard print kitten heels on her first day in Downing Street. Mr Topp endured a difficult time at BHS as the department store disappeared from the High Street just over a year after being sold by Sir Philip Green. LK Bennett, an upmarket retailer of women's clothes and shoes, said Mr Topp was a "veteran of British retail" whose experience included 20 years at Marks and Spencer. Taking over from interim boss Robert Bensoussan, his task will be to boost sales, which dipped slightly to £94m last year. Mr Bensoussan has been with LK Bennett for eight years and only planned to serve as chief executive until the company found a replacement. Prada seeks younger customers in bid for growth. Image copyright AP Italian luxury fashion group Prada has predicted a return to growth as it seeks to connect with younger customers through online sales and flexible pricing.
First half profits fell 25% to €330m (£282m) due partly to falling demand in China and Italy. But Prada said it saw 2016 as "a turning point. " It has been reviewing prices, product variety and online marketing to appeal to more customers. Revenue fell 15% to €1.55bn compared to this time last year and in April Prada announced its lowest profits in five years. It was previously criticised for opening too many new stores and failing to invest enough online. Prada said it was on track with plans to double its e-commerce sales over the next two years by increasing the number of products it offered online, particularly shoes. It will also expand its social media activities so it can raise its profile among "the 'always connected' millennials," referring to the 20s -30s age group. UK retail sales shrug off Brexit vote. Image copyright Reuters UK retail sales were stronger than expected in August, suggesting consumer confidence has held up in the wake of the Brexit vote.
Sales volumes fell by just 0.2% last month, the Office for National Statistics said, while sales were up 6.2% from August last year The ONS said the underlying pattern for the retail sector was "solid growth". "Overall the figures do not suggest any major fall in post-referendum consumer confidence," it said. The sales increase for July was also revised higher from 1.4% to 1.9% - the best performance for the month in 14 years. ING economist James Knightley said the figures offered further evidence that the UK was weathering the short-term effects of the Brexit vote well.
"Sterling's fall is likely to have boosted sales of high-end items by foreign tourists as watches and fashions become relatively cheaper for them when bought in the UK versus elsewhere," he added. "The chances the official data are revised down therefore seem high," he said. Ralph Lauren and Michael Kors report weak sales. Image copyright Reuters Luxury brands Ralph Lauren and Michael Kors have both reported weak sales against a backdrop of fewer customers visiting department stores and the strong dollar hitting tourists.
Ralph Lauren said first quarter net revenues fell 4% to $1.6bn, pushing the company into a loss of $22m. Quarterly revenues at Michael Kors inched up 0.2% to $987.9m, but sales at stores open more than a year fell 7.4%. Profits for the quarter dropped 15.7% to $146.3m. Hakon Helgesen, retail analyst at Conlumino, said luxury brands were not being helped by what he called "the car-crash that is the American department store channel". He believes Ralph Lauren has become "muddled and confused" and should be focusing on more upmarket stores such as Nordstrom and Neiman Marcus. Ralph Lauren chief executive Stefan Larsson said the company was making good progress with its restructuring plan.
However, the company said higher sales in Europe and Asia helped to offset weak trading in the US. Luxury brands tap into social media to reach Chinese customer. Luxury brands tap into social media to reach Chinese customer. Luxury brands have hit some bumps on the road to expanding their sales in China, so many are coming up with new ways to reach their customers, especially younger ones, by opening up more social media accounts.
CCTV’s Hu Xiaocen reports. Luxury brands tap into social media to reach Chinese customer Luxury brands tap into social media to reach Chinese customer Luxury brands have hit some bumps on the road to expanding their sales in China, so many are coming up with new ways to reach their customers, especially younger ones, by opening up more social media accounts. CCTV’s Hu Xiaocen reports. If you haven’t noticed, an increasing number of luxury brands are showing up somewhere new these days, especially with accounts on new media.