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Prada Profit Falls Less Than Expected as Cost Cuts Balance Asia

Prada Profit Falls Less Than Expected as Cost Cuts Balance Asia
PARIS, France — Prada SpA reported first-half profit that beat analysts’ estimates as efforts to contain costs helped mitigate declining sales in Asia. Net income fell 23 percent to 188.6 million euros ($213 million) in the six months through July, Milan-based Prada said Tuesday in a statement. Analysts predicted 175.4 million euros, according to the median of six estimates compiled by Bloomberg. Too many new stores and not enough new products have hurt Prada as demand for luxury goods slows in greater China following a clampdown on extravagance. In a bid to reignite sales and reverse a slump in its share price, the company introduced the Inside bag in July, with prices starting at about 2,000 euros. Prada has also slowed this year’s expansion, pledging to open about half the number of stores it did last year. “The global economic environment is still volatile and recent instability in Asia has not helped ease the situation,” Prada said.

http://www.businessoffashion.com/articles/news-analysis/prada-profit-falls-less-than-expected-as-cost-cuts-balance-asia

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H&M Sales Growth Slumps to Two-Year Low Amid Hot German Summer STOCKHOLM, Sweden — Hennes & Mauritz AB, Europe’s second-largest clothing retailer, reported its slowest monthly sales growth in more than two years as soaring August temperatures in countries such as Germany weighed on demand. Revenue in August rose 1 percent expressed in local currencies, Stockholm-based H&M said in a statement Tuesday, the weakest performance since a 4 percent decline in March 2013. That missed the average analyst estimate for growth of 5.4 percent, according to an SME Direkt survey. H&M blamed “unseasonably warm weather” in many of its large European markets for the slowdown.

The Military Influence on Fashion The military of the world have had an unmistakable impact on fashion. Whether it be the varied terrain, weather encountered, or nature of living in one’s uniform, over the last several hundreds of years these factions have become responsible for pieces that don’t just merely take up real estate in the closet, they are cornerstones of menswear. Here are but a few staples that deserve a crisp salute. The Necktie Culture - Why the sexy '70s are back Louche, exotic, free-flowing, bohemian, ‘gypset’ – these are words we’ll be hearing a lot in fashion this year. The ‘70s boho-luxe look is already creeping up on us, and takes centre stage with the Spring/Summer 2015 collections. From Celine’s floral tunics and Louis Vuitton’s crushed-velvet flares to Saint Laurent’s maxi skirts and turbans – the haute-hippy 1970s are without a doubt back in a big way. British designer Bella Freud has even named a scent 1970, which is full of heady overtones of musk and patchouli. The ‘70s ‘gypset’ look – combining ‘jet set’ with ‘gypsy’ – is globe-trotting, glamorous, luxurious, hedonistic, flamboyant: think floor cushions and incense, artists, rock stars and their entourages, or Talitha Getty posing in shimmering brocade jacket and harem pants on a rooftop in Marrakesh, probably the most quintessentially haute-hippy photograph ever taken. So what made this period such an influential era in fashion?

Burberry Becomes First Fashion Brand to Launch Apple Music Channel LONDON, United Kingdom — UK luxury-goods maker Burberry Group Plc introduced a channel on Apple Inc.’s music service in the latest example of the fashion and technology industries coming together. The channel will showcase Burberry’s collaborations with emerging and iconic British talent including Lilla Vargen and Alison Moyet, and feature performances, songs and films alongside regular playlists, the London-based company said Tuesday in a statement. The partnership with Apple is the latest in a series of initiatives by the trenchcoat maker to widen its influence and reinforce its image as a purveyor of cool. Subscribers to Apple Music will be able to follow Burberry and gain access to musical updates and behind-the-scenes stories. Fans will also be able to comment or share the content via messages, Facebook, Twitter and email, Burberry said.

UK inflation rate falls back to 0% - BBC News Image copyright Getty Images The UK's inflation rate fell to 0% in August, down from July's rate of 0.1%, the Office for National Statistics (ONS) has said. Inflation, as measured by the Consumer Prices Index, fell due to a smaller rise in clothing prices from a year ago and cheaper fuel prices, the ONS said. CPI inflation has been almost flat for the past seven months. Inflation has failed to take off due to a sharp fall in oil prices and a continuing supermarket price war. Oil prices hit a six-and-a-half year low of around $42.50 per barrel in late August.

Vegan make-up that’s kind to animals, ethically-conscious AND effective Elsa McAlonan advises a reader on cruelty-free make-up brands Vegan products are essential for the ethically-conscious womanElsa picks her favourites from this week's beauty releases By Elsa Mcalonan for the Daily Mail Published: 00:09 GMT, 28 September 2015 | Updated: 02:17 GMT, 28 September 2015

​tate modern explores pop around the world Andy Warhol's Marilyns? Roy Leichtenstein's comics? Richard Hamilton's collages? Pop Art is generally considered an Anglo-American response to the colourful, commercial brave new post-war world. The World Goes Pop, opening at Tate Modern on September 17th is aiming to show a whole new side to a style of work that still wields an immeasurable influence on art today. Pop art around the world was as ripe, conflicted, political, and colourful as its western counterpart; still a reaction to the new commercial era, globally it was often more avowedly anti-capitalist than the double-handed knowing critiques of Warhol.

Reinventing Gucci MILAN, Italy — In December 2014, Marco Bizzarri was settling into a new role as head of the Luxury Couture & Leather Goods division of Kering, overseeing a group of prestigious brands including Bottega Veneta, Yves Saint Laurent, Alexander McQueen, Stella McCartney, and Brioni. A rising star in the luxury group’s executive ranks, the 53-year-old had already proved his mettle in driving business growth — particularly at Bottega Veneta, where annual revenues soared from €400 million to more than €1 billion under his watch. Prior to that he worked closely with Stella McCartney, whose business he brought to profitability. His new role was seen as recognition of these successes, and an opportunity to guide the development of several of Kering ’s brands, as opposed to operating one business directly. It was the second time in a decade that Gucci found itself in the rare situation of losing both a CEO and creative director simultaneously. It was time for change.

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