July 20th, 2012

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Wolford FY Profit Declines

Friday, July 20th, 2012

Wolford reported 2011/12 fiscal year net income of 1.36 million euros, lower than 5.05 million euros last year. Earnings were impacted by the intensification of future-oriented measures around the world, such as the expansion of Wolford-owned points of sales and the corresponding initial costs as well as preparations for expanding distribution in China and the effects of a tax audit.

Sales grew 1.3% year-over-year to 154.06 million euros.

The company noted that the 2011/12 fiscal year was shaped by the European sovereign debt and bank crisis. Moreover, the unusually warm weather conditions prevailing in many areas of Europe in the period September to October 2011 had a negative impact on the consumer climate in the fashion industry in several core European markets. This environment also affected the sales and earnings development of the Wolford Group.

Going forward, on the basis of the measures which are being implemented, the Executive Board of the Wolford Group is optimistic to generate further growth in the 2012/13 fiscal year via higher market penetration in existing markets, entering new markets and the continuation of the efficiency-enhancement measures which have already been initiated.

Further, the Executive Board will propose to the Supervisory Board and the Annual General Meeting that the company distribute a dividend of 0.40 euros for the past 2011/12 fiscal year for each share entitled to a dividend.

Posted in Apparel, Brand, Finance, News, Retail, ladies | No Responses »

Cherokee inks licensing deal with retailer Max

Friday, July 20th, 2012

Global brand management business Cherokee has inked an agreement allowing value fashion retailer Max to sell its branded products in the Middle East and Africa.

The Cherokee-branded products for men, women and children will initially be available at select Max stores throughout the Middle East and Africa.

The agreement means Cherokee now has license deals with retailers in over 40 countries and also expands its presence in the Middle Eastern retail market.

Max, which claims to be the largest value-based, fashion retail chain in the Middle East and Africa, has over 200 stores across UAE, Saudi Arabia, Jordan, Kuwait, Bahrain, Oman, Turkey, Egypt, Libya, Qatar, Nigeria, Lebanon, Sudan, Yemen and India. It also plans to expand further throughout the Middle East and beyond.

Posted in Apparel, Brand, News, Operations, Retail | No Responses »

Jonathan Greller Exits HBC for The Doneger Group

Friday, July 20th, 2012

Jonathan Greller, the top women’s merchant at Hudson’s Bay Co., has left the Toronto-based retailer to join The Doneger Group as chief operating officer, a new position at the company.

The move was surprising considering, just last February, Greller, a senior vice president and general merchandise manager, was put in charge of all women’s apparel at The Bay and Lord & Taylor divisions of HBC. It was a far bigger assignment from his prior role overseeing men’s, children’s and intimate apparel at Lord & Taylor. HBC earlier this year consolidated down to one team of general merchandise managers for Lord & Taylor and The Bay, instead of two.

However, by joining Doneger, the 41-year-old Greller becomes a potential successor down the road to Abbey Doneger, the president and chief executive officer of The Doneger Group, a long-standing consulting firm that assists retail and fashion clients with market research, fashion forecasting, global trends, merchandising and product development strategies. Doneger is 61 but is not expected to leave the business anytime soon.

The move triggered a realignment of the women’s team at HBC. MaryAnne Morin, senior vice president and general merchandise manager for center core and intimates at The Bay and Lord & Taylor, now also has responsibilities for dresses, suits, swim and coats at both department stores. Connie Hoza has been promoted to senior vice president and general merchandise manager for women’s contemporary, modern and classic sportswear at Lord & Taylor and The Bay. Hoza was vice president and divisional merchandise manager of contemporary and modern sportswear at both stores.

Posted in Apparel, Brand, Labor, News | No Responses »

Peter Som Exits Consulting Role for Tommy Hilfiger

Friday, July 20th, 2012

After five successful seasons consulting on Tommy Hilfiger’s women’s runway collection and accessories,Peter Som is giving up the gig. He won’t be consulting on the spring 2013 women’s runway collections.

Som was brought in as a creative consultant in 2009 to refresh the label’s image in the U.S., especially among luxury customers, and to bring a modern interpretation to many of Hilfiger’s signature styles. Both camps confirmed that the decision was mutual and amicable and reserved the possibility that Som would work with the brand in the future.

“It was a pleasure getting to know Tommy personally, and an honor to work with him — he has been a wonderful mentor. I look forward to focusing on my own business and the other opportunities I have ahead of me,” said Som Thursday. Going forward, the company’s in-house team will work directly with Hilfiger on the women’s runway collections.

Simon Spurr, who has consulted on the men’s collection for three seasons, will continue in his current role as a consultant for the spring 2013 collections.

Posted in Apparel, Brand, Labor, News, Operations | No Responses »

Christian Louboutin sets date for first London men’s store

Friday, July 20th, 2012

Luxury footwear label Christian Louboutin, known for its iconic red soles, is to open its first London men’s store on Dover Street in November.

The 1,290 sq ft store will follow the launch of the brand’s first menswear standalone in Paris, which opened in September. It will swing open its New York branch in August in the city’s Meatpacking District.

The London store will offer Christian Louboutin’s men’s shoes and bags.

Posted in Brand, Men, News, Retail, accessories, ladies | No Responses »