From around the web and the nationals
SELFRIDGES, the London department store, will unveil the first phase of its new women’s designer galleries, a 17,000 sq ft space combining its Neoclassical architecture with digital installations, in time for London Fashion Week next February, according to reports. The room will host eight in-store boutiques for Chanel, Prada, Lanvin, Celine, Alexander McQueen, Balenciaga, Givenchy and Dries Van Noten, alongside smaller labels including Gareth Pugh, Haider Ackermann, Rick Owens, Comme Des Garçons and Anne Demeulemeester. The first gallery will be followed by two further areas of the women’s designer galleries that are due to open in phases, one later in 2012 and the other in 2013.
NIKE, the sportswear brand, saw its second-quarter income rise, helped by strong demand for its branded products, reports the BBC. The world’s biggest sports clothing maker earned $469m (£300m), up from $457m for the same quarter a year ago. Revenue at Nike rose 18% to $5.7bn, while futures orders were up by 13% to $8.9bn in the quarter. Profit margins were down 2.6 percentage points to 42.7%, hit by higher product costs. Revenues at Nike-owned brands Converse and Umbro also grew, at 5%.
THE KOOPLES, the premium French retailer, has opened its first outlet store at the McArthurGlen Designer Outlet centre in York. The 1286sq ft store will be positioned alongside Aquascutum, Gieves and Hawkes and LK Bennett at the centre. A spokesperson at The Kooples said: “Our decision to move into the designer outlet retail market was driven by a business objective to drive sales which we believe McArthurGlen’s York Designer Outlet offers The Kooples as it attracts over 3.5 million local shoppers, and tourists, each year with an appetite for quality fashion.”
LVMH, the luxury goods group, has increased its stake in accessories brand Hermès, according to reports. A statement by France’s stock market authority AMF said LVMH upped its stake from 21.4% to 22.3% and now holds 16% of the firm’s voting rights.
TESCO has seen the consumer perception of its value drop over the last year, according to YouGov’s Brand Index measure. Its “value” rating fell 12 points in a year to 28, while at the same time its rivals have retained broadly flat scores. The fall in Tesco’s Value score has also hit its overall brand perception and its Brand Index Score, which measures how customers rate the brand in terms of impression, quality, value, reputation, satisfaction and whether consumers would recommend it. This is the biggest fall of the four largest supermarkets in the past 12 months. On the clothing side of its business, Tesco is looking to ramp up its F&F design team to help meet chief executive Philip Clarke’s ambitions to improve its trend credentials. The F&F spring 12 womenswear collection will show improved fit and fabric quality.
PAUL SMITH, the UK designer and retailer, reported a sales rise of 12% to £196m in the year to June 30 while profits leapt 36% to £34m during the year. Like-for-like sales through the company’s wholly owned stores rose 8% during the period and the group said it would continue its international expansion. New stores are planned for Amsterdam and Melbourne and there is also a plan in place to extend the retailer’s store on London’s Albermarle Street. The company, which is majority owned by the eponymous designer, paid a dividend of £309,000 down from £3.5m paid out in the previous year.