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. “The global economic environment is still volatile and recent instability in Asia has not helped ease the situation,” Prada said. Prada contrasts with Hermes International SCA and LVMH Moet Hennessy Louis Vuitton SE, which reported higher first-half profit despite some difficulties in Hong Kong, Macau and mainland China. Prada shares rose 1.8 percent to HK$30.90 in Hong Kong Tuesday.

Under New Direction, Parsons Puts Sustainability First | Education, Education... NEW YORK, United States — Parsons School of Design at the New School is known the world over as the former academic home of Donna Karan, Marc Jacobs, Anna Sui and Alexander Wang. This month, the New York-based design school is welcoming a major new addition to its faculty: Burak Cakmak, who joins as dean of fashion. Selected from 200 applicants by the executive dean of Parsons, Joel Towers, this is Cakmak’s first foray into academia. Succeeding Simon Collins, who stepped down in December after a six year career, Cakmak will be responsible for overseeing a number of courses: the BFA in Fashion Design, AAS degree programs in Fashion Design and Fashion Marketing, and the MFA in Fashion Design and Society. Cakmak’s career in the fashion industry began at Gap Inc. in 2000, where he served as the senior manager of social responsibility for eight years. “When I was at Gap Inc., it was the largest specialty retailer in the world. There’s a recognised need for sustainability.

What do jobs figures say about UK economy? - BBC News Image copyright Getty Images The one word description of Wednesday's labour market statistics is "good". The two word version is "very good". Employment is up, wage growth is looking very healthy and there are tentative signs that productivity - the big missing element of the UK's recovery so far - is improving. A (comparatively small) rise in unemployment is the only thing blighting an otherwise strong set of numbers. And if the productivity trend genuinely is starter to turn, then that might start to change the picture on the UK's public finances. The number of people in work rose by 42,000 in the most recent quarter and the employment rate (the percentage of people in work) is at a record high of 73.5%. After a few months in which there has been concern that the pace of Britain's jobs recovery has slowed, these firmer numbers will allay some concerns. But the really significant developments today are what is happening to wages and productivity. What does this say about the economy?

Nau Debuts Recycled Down Insulation for Jackets, Coats Nau has a new feather to its cap: recycled down. One of the first apparel companies to incorporate the material in its production, the Portland-based outfitter is launching six new outerwear designs this fall, including a down jacket for men and a cocoon trench for women. Nau says it worked closely with several partners over a number of years to make recycled down a reality. Just outside Paris in France, a vendor gathers and sorts down from post-consumer duvets, pillows, and blankets. The down then travels to a facility in Hungary, where it's quality-checked, sorted, cleaned, and sterilized the same way as virgin down. In January 2014, Nau was among the companies that rallied around the “Responsible Down Standard,” a chain-of-custody process established by The North Face and Textile Exchange to help businesses source down from ducks and geese that haven’t been forced-fed (a common practice in foie-gras production) or live-plucked for their feathers. + Recycled Down + Nau