Last week was a depressing week in Asia. Protesting garment workers were beaten in Cambodia. The workers were striking for higher wages and better working conditions. It was reported that at least 3 women were badly hurt. This is the ugly side of the business of fashion. Our prayers are with the workers who got hurt.
Here are the top stories from last week.
Etihad Towers, Abu Dhabi, announced that its new retail boutique, Avenue at Etihad Towers, will be launched in the coming months.
Singapore fashion label Raoul launches its first in-store retail outlet in the US at Bloomingdale’s flagship department store.
LuxeYard announced its expansion into the fashion apparel sector with the launch of LuxeStyle, where members can receive discounts as high as 70 percent on both popular and one-of-a-kind items.
2. Movers and shakers
Carine Roitfeld’s, former French Vogue editor revealed details of her untitled publication. She hopes that it will resemble a book.
Indian designer Anita Dongre, known for her ethnic womenswear line is venturing into creating menswear.
H&M confirms to Women’s Wear Daily that it will debut a new chain of stores in 2013 to “broaden its offering.”
Hermès has announced its latest limited edition scarf collaboration will be with Japanese photographer Hiroshi Sugimoto.
The private equity arm of the world’s biggest luxury products group, LVMH, is negotiating to invest about $150 million ( Rs 750 crore) in Raymond Apparel.
4. Feathers ruffled
Protesting Garment Workers Beaten in Cambodia. The factory involved is Win Shingtex, and it reportedly produces clothing for J.C.Penney Co.
An initiative aimed at securing better working conditions for models has launched an effort to stop labels from refusing to pay the models they hire.
The chairman of Tom Ford’s fashion firm filed a $25 million suit over claims that he and his wife were duped into buying a counterfeit painting from a prestigious Upper East Side gallery.
Injured model and fashion editor Lauren Scruggs, who lost her left hand and left eye in a Dec. 3 plane propeller accident, reached a legal settlement with the insurance company for the pilot and the plane’s owner, according to a representative for her attorney.
Back in 2009, Gucci sued Guess for trademark infringement, complaining that Guess knocked off their “G” logos and other Gucci-esque designs. The case has finally made it to court.
5. Take-overs, investments and JVs
Recently launched LuxeYard, Incorporated announced that is acquired the assets of privately held eOpulence LLC, based in Brooklyn, New York.
6. Made bank
China Xiniya Fashion Limited’s total revenue in the fourth quarter of 2011 increased by 44.7% to RMB482.8 million, as compared to RMB333.6 million in the fourth quarter of 2010.
Versace actually made money last year. Net profit at the fashion house led by Donatella Versace, sister of murdered designer Gianni, rose to €8.5m last year, up from a loss of €22m in 2010.
Swedish fashion retailer H&M reported first-quarter profit growth, but its gross margins were hit by higher cotton costs and increased markdowns from the warm autumn weather.
Luxury fashion group Prada on Thursday said it had its ‘best year’ ever in 2011, with net profits up 72.2 per cent to to 431.9 million euros (S$543 million) thanks mainly to a rise in sales to Asia.
7. Asian expansion
The Creative Director Of Missoni Wants To Take Indian Fashion Global. Grazia hosted a high tea in Angela’s honour at AER at the Four Seasons in Mumbai.
Italian fashion house Roberto Cavalli will enter the Indian fashion market this year.
Your legal fashionista,