Style & the Street

Indian Fashion Week reflects economic worries

This was one of the hardest Fashion Weeks in Delhi, with designers feeling the pinch of a global credit crunch and economic downturn.

"Most of us are living in self-denial, but it’s a crisis that will hit the Indian designers in another six months,” Sumeet Nair of the Fashion Foundation of India said, according to Express India.

According to the runway shows, Indian designers veered away from ostentatious embroidery and embellishments.

Mary Kate and Ashley move from WalMart to High-End...

Mary Kate and Ashley Olsen used to sell tween clothing, accessories, videos, and all other trinket-y goods at places like Wal-Mart.  But now they  produce a line of "bohemian" women’s wear, Elizabeth and James, and another much more expensive brand called the Row.

They "have made the unusual and more difficult move of going in reverse, beginning in Wal-Mart and finding their way to Madison Avenue. The idea for the line began with Ashley’s wish to engineer the perfect T-shirt. It has since grown to a full wardrobe. The clothes are in some sense like the Olsens themselves, outwardly ethereal but fundamentally practical — skirts, jackets, sweaters, from a few hundred dollars to a few thousand, that no urbane 40-year-old woman would look foolish or desperate wearing. The two initially hired a designer to produce the line, but now they design it themselves," according to Ginia Belafonte at the NYT.

Tory Burch won't sell, despite financial pressure...

Despite industry rumors, Tory Burch said that despite the current state of the economy, she does not plan on selling her label. But a 30 percent stake might be for sale, according to Women's Wear Daily.  Is this  like Lehman telling us that they were fully capitalized?

Christian Siriano's Line is Going... Nowhere

So, there's a lot of hype about Christian Siriano, the tiny, be-speckled winner of Project Runway. His line debuted with high hopes, but the sales never got high enough to make waves -- and has now totally plateaued. Being a young designer, usually cheaper and hipper and perhaps more experimental -- can be a good thing. Why isn't it working for Siriano?

Luxury fabrics to detract from knockoffs

"Luxury fabrics are all the rage," according to my friend in fashion. High end-fashion houses are using more and more distinctive, one-of-a-kind fabrics to detract from people buying knock-offs. The black market for Louis Vuitton purses started the trend, as it has become the ubiquitous "knock-off" for the past few years.

With the more intricate patterns and better quality leather and cloth, those who care won't be as apt to try to pass a $45 underground imitation of their favorite little handbags.

Perhaps people will stop caring as the market continues to move downward.

Chanel

Chanel number 5 is being relaunched with Chanel 5 "eau primer"... and the difference is... I don't know if anyone knows. But reviving the brand in times of economic downturn may reap some benefits, or be a waste of time depending on whose opinion you honor... More to come.

Uniqlo, the Japanese H&M-like store, posts profits

Fast Retailing Co., Ltd., also known by their retail stores, Uniqlo, is essentially a Japanese H&M. They have fashionable, pret a porter clothes for the masses -- and smaller price tags to match.

It doesn't come as a shock then that total sales for the month grew 27 percent on the year, according company reports. In September 2008 existing-store sales increased by 20.8 percent year on year while sales at direct-run stores increased by 25.1 percent according to their stock reports.

"September sales of fall and winter garments were strong thanks to our aggressive promotion activities and cold weather towards the end of the month," according to their stock report.

Sephora buys 45 percent stake in Russian company

Sephora bought a 45 percent share in Russian luxury perfumery Ile de Beauté.

As part of the deal, Sephora will have the option to become a majority shareholder in the chain “over time,” according to a company press release.

Emerging markets are becoming more of an attractive investment for established brands looking to hedge any drop in profits due to the U.S. credit crisis and falling consumer confidence.

Ted Baker cautious as economy remains unsteady

A prominent English designer, Ted Baker, said that trading has gone down in the past two weeks.

According to the Financial Times, Ray Kelvin, founder and chief executive, said: “We remain understandably cautious about trading in the second half of the year.

The brand began in 1988. They have stores in 17 countries, though the United Kingdom accounts for 80 percent of their sales. The American credit crunch and economic downturn may be crossing the Atlantic, with stock prices in both European and Asian stock markets plummeting today.

Estee Lauder Moves to Wal-Mart

Estee Lauder, a luxury brand for almost a century, is moving to Wal-Mart.

Aramis and Designer Fragrances, two divisons of Estee Lauder will launch a perfume called C-Thru. The first bottles will be sold in December at Wal-Mart, and later sold at Kohl's, Target and other economy retailers in January, according to Women's Wear Daily.  The perfume will be sold at 10,000 stores throughout North America.

Industry sources estimated that C-Thru would have $10 million in retail sales in its first year. Experts estimated "that the brand's advertising and promotional budget will top $4 million", according to WWD.