Cassy Bhairo
Steve Frous
Robbie W
Kellen Hofer
Weronika Kumanek
Burberry has bought 50 of its Chinese franchised stores in a deal worth 70 million pounds. Control of its franchising may add as much as 20 million pounds to operating profit in the year through March 2012, the Pimlico-based company said. "Financially, the deal is excellent," Dennis Weber, an analyst at Evolution Securities in London, said in a note. Earnings per share may be enhanced by about 6 percent in fiscal 2012, said Weber, who has a "neutral" rating on the stock.
Luxury companies are seeking to tap growth potential in China, where the number of millionaires soared 31 percent last year, according to research by Capgemini SA and Merrill Lynch & Co. The country's luxury goods market will be worth $14.6 billion in five years, making it the world's largest, the Chinese Academy of Social Sciences said in May.
Burberry rose 9 pence, or 1.1 percent, to close at 799.5 pence as of 4:30 p.m. in London trading. The shares have gained about 33 percent this year, giving the company a market value of about 3.5 billion pounds.
"This is a very attractive deal from a strategic and financial perspective, giving us control in a key growth luxury market," Chief Executive Officer Angela Ahrendts said on a conference call. "We can see clear opportunities to further increase sales and profits."
Retail sales in the Chinese stores, which were previously reported as wholesale revenue, totaled 75 million pounds in the year through December 2009, generating profit of about 14 million pounds for the local franchisees, Burberry said. Had Burberry owned the stores in the financial year ended March 2010, retail revenue would have represented 63 percent of total sales, up from 58 percent without them, Ahrendts said.
Under the new agreement, Burberry will take over the outlets' operational management, while existing franchisees will hold a 15 percent stake in their business, the company said. Burberry, which currently has 13 directly operated stores in Hong Kong, one in Macau and 19 in Taiwan, plans to open 10 more units in China this year, Ahrendts said.
With a history spanning 7,000 years jade is a symbol of honor, faith and immortality for many Chinese. Yunnan is the ideal place for travelers to experience the rich jade culture.
Jewelers are displaying their wares this week at the six-day Yunnan High-grade Jadeite Summer Appreciation Fair.
Held in Kunming, the fair represents city efforts to become the jadeite capital of the world. It hosts domestic and foreign guests.
Approximately 300 pieces of high-grade jadeite from Yunnan and other regions of China are on display, valued at more than 2 billion yuan.
Jadeite accessories from 16 famous jewelry enterprises - among them Cuixiangyuan, Tailigong and Cuixi - will also be exhibited, said Deng Kun, director of the Yunnan Provincial Jewelry and Jade Quality Supervision and Examination Institute.
All accessories have passed evaluations from the Institute's jadeite quality grade assessment committee and been issued certificates.
Companies are showcasing more than 100 premier examples of artistry. All products are grade-III jade.
Saturday's opening ceremonies recognized last year's award-winning gems. Held from 9-5 each day, the fair hosts lectures and forums on the jadeite industry.
Bai Gensheng, deputy chairman of China Folklore Society, is set to speak on Yunnan's jade culture.
Also of interest is an unveiling of the Yunnan High-Grade Jadeite Appreciation album. The publication features around 300 pieces of exceptional jade works. It is a joint venture of the Yunnan Jewelry Quality Professional Committee and the Yunnan Jewelry and Jade Quality Supervision and Examination Institute.
The province has long been China's top jade distribution, processing and sales center. According to Deng, jadeite sales account for approximately 86 percent of Yunnan's total trade.
It is estimated that Kunming's jadeite sales alone will top 13 billion yuan.
"We hope the fair will help promote the jewelry and jadeite industry of the province," Deng said. "The jadeite industry in Yunnan needs to move towards sustainable and healthy development".
The fair is sponsored by Yunnan Cultural Industry Office, Yunnan Stone Industry Development Joint Conference Office, Yunnan Department of Commerce, Yunnan Department of Land and Resources, Yunnan Quality Supervision, Inspection and Quarantine Department, Kunming People's Government, Dehong Prefecture People's Government, Baoshan People's Government and Yunnan Stone Industry Promotion Committee.
At this year's World Cup, jerseys made from recycled PET bottles attracted attention all over the world. Recently, textile enterprises in Taiwan including Far East new century, Lea lea and Super textile all actively devote in this eco-friendly market.
It is known that the forerunner in this area in Taiwan is Tzu chi which recycles 7,500 ton of PET bottles every year. What's more, a lot of these PET bottles are reused to make carpets.
Super textile Co., Ltd has been recycling PET bottles for more than ten years. Cloth made from recycled PET bottles sells well in USA and Asia.
Far East new century company claims that its eco-friendly cloth is used to make 2010 World Cup's jersey.
OneRepublic, the band making waves across the pop rock music scene, has teamed up with Ralph Lauren to celebrate his latest men's fragrance launch, The Big Pony Collection. The group's hit "Secrets" has been tapped as the theme song for the Big Pony Fragrance Video shot by renowned filmmaker and photographer Bruce Weber.
"Having Secrets selected for the Big Pony Fragrance Video makes us feel like we're doing something that connects with people," says OneRepublic singer-songwriter Ryan Tedder. "We are extremely excited to be partnered with a compelling brand like Ralph Lauren."
The two-minute video portrays a new generation of Ralph Lauren enthusiasts at a polo match. The storybook montage reflects their youth, sportsmanship, and relationships, qualities personified by the introspective and captivating disposition of "Secrets" that resonates with millions of fans around the world.
Among the polo spectators in the video, four young men were specifically chosen to represent the corresponding archetypes of the four Big Pony Fragrances – sport, seduction, adventure and style. They are seen participating in the activities and fashion corresponding with each fragrance, qualities that today's generation can identify with in their own lives. Numbered for the four players of a polo team, The Big Pony Fragrance Collection empowers a new generation of men to get into the game and play by their own rules.
"This new team of fragrances brings choice, style, and modernity to a new generation of men," says Guillaume de Lesquen, President of Ralph Lauren Fragrances Worldwide. "OneRepublic captures these qualities in 'Secrets' in a way that brings a meaningful dimension to the entire launch."
In addition to the Big Pony Fragrance Video, the collection's microsite featuring a Create-Your-Own Video application that allows visitors to create their own edits by clicking and dragging their favorite scenes from the Big Pony Fragrance Video, adding "Secrets" and sharing with friends. The site will also feature a link to a Big Pony Fragrance Collection tab on Ralph Lauren's Facebook Fan Site, as well as ecommerce, news updates and information about the collection.
The Big Pony Fragrance Collection design is directly inspired by the iconic Big Pony shirts – colorful and bold Polo shirts with an oversized version of Ralph Lauren's signature Polo Player logo. The sleek translucent flask bottles are infused with rich color tints, contrasting with alternate splashes of color in oversized Polo Player icons and individual numbers – assigned according to scent and personality.
All four fragrances are based on a distinct duo of ingredients:
1: Citrus Aromatic, matching lime and grapefruit to represent sport.
2: Oriental Fougere, hooking up dark chocolate and musk for seduction.
3: Fougere Woody, mixing mint and ginger root for adventure.
4: Woody Fruity, a boost of mandarin and kyarawood for a stylish edge.
OneRepublic kicked off the partnership with the Big Pony Fragrance Collection with a headlining concert in New York City in July 2010. Their subsequent tour will travel Europe with U2 and return to the U.S. with the Maroon 5 Fall 2010 tour.
Jones Apparel Group, Inc. announced that it has entered into an exclusive, world-wide license agreement with Inter Parfums USA, LLC, a wholly-owned subsidiary of Inter Parfums, Inc. for the creation, production, marketing and global distribution of women's fragrances under the Nine West brand. Inter Parfums is a premier manufacturer and marketer of prestige fragrances worldwide.
Under the agreement, the initial Nine West signature fragrance will be marketed and sold globally in better department stores, specialty retailers and Nine West retail stores, with an initial launch planned to commence fall 2011. The agreement also grants Firmenich, a leading fine fragrance design company, the exclusive rights to create and supply the initial Nine West fragrance to Inter Parfums and Jones. Nine West is currently sold in 59 countries with flagship stores in leading cities, including New York, Toronto, London, Paris, Tokyo, Hong Kong, Shanghai and Beijing. The initial term of the agreement ends on December 31, 2016 with a provision for further renewal.
Richard Dickson, Chief Executive Officer of Branded Businesses at Jones Apparel Group, stated: "We are excited to be working with best in class partners, Inter Parfums and Firmenich, as we begin the creative journey of extending Nine West into this new world of fragrance. We are proud that Nine West, one of our most coveted brands, will be included in their notable portfolio of brands. Like the perfect pair of shoes, a woman's fragrance is the sensual completion to her look by providing an inviting and intimate expression of her identity."
Jean Madar, Chief Executive Officer and Chairman of the Board at Inter Parfums, stated: "Nine West's global brand recognition is an ideal platform for the development of a successful fragrance and an excellent addition to our premier portfolio. In working with Nine West and Firmenich, our goal will be to interpret Nine West through emotive qualities in scent that resonate with women around the world."
Gucci is pleased to announce that the injunctive proceeding filed in Florence in June against the unauthorized use of the mark Elisabetta Gucci made by Mr. Ziller, Formitalia S.r.l., Mirabili S.r.l. and Formitalia Group S.p.A. was decided in its favour.
According to the court's order, all the counterparts have to immediately cease any use of the mark at issue as well as of the domain name “Elisabetta Gucci” for any business or advertising purpose. The court furthermore imposed a penalty for any possible violation of its order, awarded Gucci legal fees and ordered the publication of the interim decision in two newspapers and a magazine.
Gucci welcomes this decision, which represents a relevant precedent in terms of intellectual property protection and will hopefully act as a significant deterrent for those who intend to unlawfully license or commercially exploit the Gucci trademarks.
Use of the mark Elisabetta Gucci by the above mentioned parties has caused customer confusion and has been harmful to Gucci’s business and well-known reputation. Gucci will always act vigorously against product counterfeiting or intellectual property infringements.
Gucci does not intend to let the power of its brand be diluted by counterfeiting or intellectual property infringements. The Florentine House is fully committed to maintain and protect its intellectual property rights throughout the world in order to ensure that its unique heritage be strongly preserved and fully respected.
A fashion event of unseen dimensions takes place in Copenhagen on Saturday, August 14th 2010 at 3 PM as the culmination of this summer’s Copenhagen Fashion Week. It is called The World’s Greatest Catwalk.
Helena Christensen, Denmark’s very own supermodel, has accepted the role as patroness of the event and will be opening the catwalk with a speech to the expected 100,000 spectators.
The World’s Greatest Catwalk will take place on the pedestrian street in the centre of Copenhagen, Strøget. The street will be transformed into one long runway where 220 models will walk 1 mile (1.609 km) and beat the world record for the longest catwalk ever.
The partners behind The World’s Greatest Catwalk
The World’s Greatest Catwalk is being organised by Copenhagen Fashion Council, a group comprising Copenhagen Fashion Week and Dansk Fashion & Textile, as well as the four trade fairs Copenhagen International Fashion Fair (CIFF), Gallery, CPH Vision and Terminal 2.
To lift the practical and technical tasks of the project, the production company Stage 7 will be in charge of the construction of the 1 mile long and pink runway, tribunes and scene, lighting, sound system and big screens broadcasting the event along the route. The design agency, Femmes Regionales, will be coordinating the show; the 220 models, the clothes from more than 500 Scandinavian brands as well as the teams of around 100 make-up artists and hair stylists from two of the industry’ true heavyweighters in professional make-up and hair care/styling; Max Factor and Wella.
Max Factor and Wella will be directing the looks for the event that will be presenting the best of fall’ fashion for both women, men and children. Two of Denmark’ biggest names in fashion are supporting the initiative; Kopenhagen Fur, the world’ largest fur auction house and the leading provider of luxury fur, and Vero Moda, one of Europe’ largest clothing brands for young women.
The project is furthermore supported by the Danish State, via The Branding Denmark Foundation.
Delhi based designer Duo Kapil and Monika Arora will showcase their bridal collection at the fashion show to be held at Wedding Asia , Ludhiana on the 30th July’10 between 3:00 pm – 5:00 pm at Majistic Park Plaza.
Designer Kapil and Monika’s collection hugely comprises of heavily embellished lehengas, sarees, cocktail gowns , tunics etc.As India is ruled by women of different skin tones so does their collection which is a medley of pinks, beige, mauve, reds, black, blues and white.
Among fabrics we can see an extensive play of velvet , brocades, chandelier net for the inners and many other imported fabrics which are designed in such a way that they are easy to drape.Most of the outfits are ready to wear, making it just perfect for the women of today.
The embroideries done are very modern and bold where Swarvoski rules the embellishment which makes the sarees and gowns light yet dazzling. The designer’s philosophy is to not to just design but give a second skin to those who wear his clothes.
Stride Rite Children’s Group, a leading provider of premium children’s footwear, will launch kids into action with the new Slingshot by stride rite collection debuting today in all stride rite retail and leading specialty retailers.
Helping to transform kids into superheroes just in time for back-to-school, the sneakers include a new, innovative technology by stride rite where the heel is designed with an actual spring and elastic that mimics the mechanics of a slingshot -- all engineered to start a child's day in ‘Superhero’ style.
"At stride rite, our goal with the new Slingshot by stride rite collection is to inspire kids and make them feel like they can run faster and jump higher everyday they play,” said Sharon John, president of Stride Rite Children’s Group. “Providing stride rite quality and durability makes these new shoes a win-win for moms and kids.”
The collection features styles for both boys and girls with pops of hot pink and glitter for girls and ooze green or sleek black and silver for boys, offered in both lace and adjustable closure.
The Stride Rite Children's Group, part of the Performance + Lifestyle Group of Collective Brands, Inc., markets the leading brand of premium children's footwear in the United States under such brands as stride rite, Saucony Kids, Keds Kids and Sperry.
In a surprising reversal, Teamsters members agreed Sunday morning to the "last, best and final" offer from studios, averting a strike by Hollywood transportation workers and others.
Teamsters head Leo Reed, in a standing-room-only membership meeting in Burbank, asked the members present to vote for the deal, conceding on a major wage point in exchange for relatively minor enhancements that were achieved in backchannel negotiations Saturday afternoon.
Upon Reed's recommendation, the union membership voted 97.3% in favor of the deal, about 840-20.
Talks between the union and the Alliance of Motion Picture & Television Producers (AMPTP), representing the studios and independent producers, ended Friday night with no movement and no new negotiating sessions scheduled.
"It's a good contract," Reed told The Hollywood Reporter. "I'm very happy."
Members at the meeting appeared happy as well, repeatedly applauding most deal points and thanking Reed and his team. Only one person, union activist Gary Watts, rose to speak against the pact.
The AMPTP also praised the deal. In a statement released Sunday afternoon, the studio organization said: "The newly ratified agreement provides solid increases in wages, benefits and work opportunities for members of the Hollywood Teamsters while recognizing the economic realities that continue to challenge the industry."
Terms of the two-year deal include an annual 2% pay increase, which is a concession since the union wanted 3%. However, the Teamsters achieved at least three enhancements Saturday with regard to meals, medical tests and drivers licenses, and staffing of out-of-Los Angeles productions.
Those enhancements fall short of the union's 1% concession, as union officials acknowledged during the meeting, which lasted a little more than an hour. Nonetheless, union leaders claimed those enhancements were, in essence, the tipping point. Reed acknowledged to members that the union had rejected the Friday night proposal, which did not include the three enhancements the studios offered the next day.
In an interview with The Hollywood Reporter, Mitch Masoner -- who is challenging Reed in September's union election -- declared himself happy "for the Local and the industry" that union members would not have to strike but added that he was "disappointed by the concessions." He said he did not think Reed would have gotten a strike authorization from the assembled membership.
That might have been Reed's calculation as well. Union counsel Joe Kaplon said that a strike "was not an option" and described the leadership's acceptance of the deal as just "good business" in today's economy. He denied that the union blinked, but the fact remains that the leadership agreed to the 2% figure after receiving just three minor concessions.
There were larger points that Kaplon cited. These include the fact that the deal is two years (rather than three) in order to synch the contract's expiration with IATSE's; and increases in pension and health benefits -- specifically, a 50-cent per hour increase in health plan contributions by producers, and a 13th and 14th pension check per year. However, all of these were in the Friday-night package that the union rejected.
Also in the Friday night proposal were two other enhancements cited by Kaplon, relating to new-media wages and low-budget film productions. Even accounting for all five enhancements, the value of the 1% increase foregone by the union is greater.
The union's decision, though hard, was a smart one: the economy is difficult, the deal is good, the Writers Guild of America (WGA) strike and yearlong Screen Actors Guild (SAG) stalemate have taken a toll, and, perhaps critically, the union has no strike fund, according to several members who spoke to The Hollywood Reporter.
Next up for Hollywood labor are negotiations between the AMPTP and SAG/AFTRA. Those talks commence September 27. The Directors Guild of America follows in November, then the WGA, probably in early 2011. Given this agreement, those unions will find it difficult if not impossible to secure wage increases greater than the 2% per year achieved by the Teamsters.
