Hillary and Her Horrible Wardrobe Choices:
“Of course a woman shouldn’t be denied the presidency just because she can’t dress well, but that is not the point with Clinton – she has always carefully tailored her style to what she thinks the electorate desires. Just look back at photographs from when Bill was elected and Hillary was wearing pleated skirts and alice bands, looking very much like a Sloane circa 1984. In short, she is doing what she thinks she should as opposed to having a splinter of courage and being true to herself. Which kinda makes you wonder what sort of leader she would be.”
Nike Develops Second Thoughts About Using Factories in China:
“Not only are the costs of manufacturing in China soaring, but falsified documents, underage workers and unpaid wages are still hampering the country’s progress according to a new report from Nike . . . the findings are particularly alarming given that China is widely thought to have one of the top social compliance regimes in the industry, boosted by a new labour contract law introduced at the beginning of this year.”
Donna Karan Returns to Menswear:
“Liz Claiborne Inc. and Donna Karan International, the fashion design house, will launch a new collection of men’s sportswear, called DKNY Men’s, for the “better” market in the US and Canada . . . DKNY Men’s will represent the modern yet timeless sensibility of the DKNY brand. It will combine stylish function and versatility, the core of a complete men’s lifestyle brand, and will offer an array of product from wovens, knits and trousers to blazers and outerwear. Price points for the line will range from $59.50 to $595. DKNY men’s will debut in department stores for Fall 08.”
Collapse of Bear Sterns Will Likely Impact Luxury Brands:
“Robert H. Parks, professor of finance at Pace University’s Lubin School of Business in New York and a former Wall Street economist, isn’t so sure that current crisis will resolve itself quickly. ‘The credit markets will kill the fashion and retail industry. I am anticipating a systemic financial meltdown across the United States….Liquidity has evaporated. Hedge funds, banks, and private equity won’t touch anything that looks like a risky move’ . . . ‘Retailers have been suffering to this point,’ said Paul Nolte, director of investments at Hinsdale Associates. ‘Their stock prices have been suffering for almost a year and there will be more of the same for awhile, at least until we get halfway through whatever recession this currently is.’”
***Meanwhile, analysts speculate that Coach may be among the hardest hit of the luxury brands due to a growth model that relies heavily on the aspirational, mass market consumer: “But some analysts and investors worry that the very strategies that made Coach’s ascent so spectacular may compound its challenges in a declining market. The consensus is that elite brands like Vuitton, Hermès, and Gucci are less susceptible to a recession because their customers will still splurge, regardless of the economy’s ebb and flow. European brands are more diversified, producing ready-to-wear clothing that can offset a decline in handbags and accessories. Coach, meanwhile, sells mostly handbags and accessories (and it doesn’t do business in Europe, where it would be unlikely to gain traction on a continent that is home to so many high-end fashion houses, so even the strong euro won’t help).”
