Topshop will bring a little bit of the Big Apple to London. Award winning denim label J Brand will work together on an exclusive collaboration with the British high street store. The US premium denim brand will debut with a limited edition capsule collection at Topshop’s Oxford Circus flagship store at the end of November.

“We see this collaboration with Topshop as a great opportunity to be part of a groundbreaking company, and create a special product for them that is in keeping with our aesthetic, yet presented in a new way”, said Susie Crippen, J Brand co-founder and Creative Director.

J Brand for Topshop will consist of three low-rise styles named by the New York neighbourhoods that stand for the styles of the women who wear them. The Brooklyn style is the new denim staple: a 12-inch pencil leg; the Nolita is a classic cigarette leg with a 14-inch leg opening; and the Manhattan is a slim fit 22-inch bell-bottom. These styles will be available in washes that range from dark and clean to vintage-inspired distressed washes.

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Next will this week unveil a fall in full-year profits of around 14pc following a drop-off in sales brought on by the credit crisis. Analysts expect the chain, which also owns the Directory catalogue business, to reveal that pre-tax profit for the year to January was £428m, down from £498.1m last year.

The company, which is run by chief executive Simon Wolfson, has already said that sales fell last year. At Christmas the retailer reported a like-for-like sales drop of 7pc, at the bottom of the -4pc to -7pc range that it had given the market. Observers expect sales to be -6pc in 2009 and -4pc in 2010.

Eastpak has announced a collaboration with Californian designer Rick Owens. The results are a hybrid of very exclusive pieces consisting of 9 bags and 2 outerwear garments that will be sold at premium retailers and Eastpak icon stores worldwide from September 2009.

Created in 1976 Eastpak is the authentic brand for packs and bags famed for their style, toughness & functionality. Eastpak has taken pride in being recognised as an innovative, fun brand, having previously collaborated with designers such as Raf Simons.

Today Eastpak produces apparel, bags and accessories that combine style, utility and value for money. Eastpak is a lifestyle brand that supports numerous bands, artists and athletes worldwide.

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Intriguing research findings have prompted women do not buy more lipstick in an economic downtown.

As was reported by WGSN, Mintel’s research shows women prefer Austerity Chic – looking good for less – replacing the Lipstick Effect of previous recessions.

Research conducted in the UK, the US and France showed just 3% of women in each country said that they purchased a lipstick to make themselves feel better – with the same percentage giving the same answer for skincare, haircare and fragrance. Lip colour, however, came top of the list of cosmetic products women would be most likely to spend less on or stop using, the report claims.

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But the report also said the beauty business as a whole is resilient. Six out of 10 women surveyed in all countries reported no change in their beauty buying habits, despite the troubled economy. In addition, more than 60% of women in each country spent the same or more on their foundations and women in all three countries were most likely to spend the same or more on essential products such as shampoo and cleanser.

“It is a common perception that lipstick sales go up in times of economic adversity, yet this research reveals a very different picture. Haircare and skincare are actually the beauty categories where women are spending the same or more,” said Nica Lewis, head consultant for Mintel Beauty Innovation.

“Beauty is now marketed as a necessity rather than a luxury and women are being creative with their spending to keep up appearances,” she added. “This means women are investing in moisturisers, body lotion and haircare, rather than lipstick.”

Source: WGSN

Marks and Spencer will this week see an improvement in quarterly sales overshadowed by the continuing row over the future of executive chairman Sir Stuart Rose.

Sir Stuart is facing calls to share power at Britain’s largest clothing retailer a year after he saw off an investor rebellion over his elevation from chief executive to executive chairman – a post that goes against the combined code on corporate governance.

He is expected to face another revolt at the company’s annual meeting on July 8. Three shareholder advisory groups Glass Lewis, Pirc, and RiskMetrics are asking investors to support a resolution calling for the roles of chairman and chief executive to be split, and for the appointment of an independent chairman by July 2010.

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Businesses and retailers in the capital are the most optimistic they have been in 18 months about prospects for the coming half-year, though they remain cautious about future investment and divided about London’s longer-term status as a world city, a CBI / KPMG survey reveals.

The poll of senior executives shows that most firms still think the capital is a good place to do business, and more think so now (86 per cent) than when the last survey was conducted in April (80%). Business performance has also improved, with fewer reporting falling business values (36 per cent) than six months ago (59 per cent).

Forty seven per cent of firms are optimistic about their future business prospects, which is the highest proportion since April 2008 (30 per cent).

However, a perceived lack of government action on issues such as transport and skills, falling public sector investment and an overly burdensome tax and regulatory regime are seen by firms as threatening London’s attractiveness as a place to invest and do business. While a quarter of respondents say they see London’s status improving in five years, another quarter think its standing will shrink compared with cities such as New York, Paris, Tokyo or Mumbai, and half say it will simply remain where it is.

Firms remain cautious about their investment plans. A third (30 per cent) plan to cut back on recruitment and training and a further third (31 per cent) on IT infrastructure, equipment, plant and machinery.

The tenth biannual CBI / KMPG survey shows London’s businesses have used a variety of human resources strategies to retain skilled staff and survive during the recession. New questions in the survey reveal that, while over half (53 per cent) have been forced to make redundancies, staff have also been working with their employers to implement policies such as only recruiting when essential (63 per cent), using HR policies to cut costs like expenses (37 per cent) and putting a freeze on hiring altogether (26 per cent).

This is a critical time to hold on to the skills we have and firms see the business-led London Skills & Employment Board, chaired by the Mayor as playing an important role with three key priorities: working closely with employers to support their needs; tackling youth unemployment; simplifying the skills services on offer.

The vast majority of firms (92 per cent) think the 2012 Olympic Games is a good way to promote London internationally. Two-thirds think it will boost visitors’ experience of the city and a good proportion (61 per cent) believes it will lead to regeneration. Fewer than a third (30 per cent) feel the Games will strengthen the capital’s skills base, however, and just 42 per cent see direct business opportunities for their own organisation.

Richard Reid, London Chairman of KPMG, said: “Whilst it is encouraging to see London’s businesses feeling more confident, it is important that the lessons learned over the last two years are kept at a high priority for all companies. It is also important that policy makers and the Government pay close attention to maintaining our position as a global financial centre as the world slowly starts to emerge from recession. The Capital is facing challenges on many fronts; not just from the tough economic conditions but from new emerging financial centres, and there is real concern of a regulatory backlash that could make the City less attractive to overseas investors and businesses. “Whilst an appropriate regulatory framework is critical for business success in a competitive world economy, policy makers need to ensure that they don’t hamper London’s ability to compete with other global centres by rushing in a raft of new rules which ties businesses in knots. London also needs to take a lead in Europe in helping the EU to emerge from recession in a much stronger position.”

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The September issues of fashion magazines are by far the biggest of the year, bursting with new looks to start the season, and more importantly showcasing page after page of advertising campaigns from the worlds more desirable labels luring readers to buy into their must-have image. This year it seems high end fashion has lost its spot at the top of the barometer, and the all-important September issues are almost as skinny as the models inside.

Whilst the recessionista has earnestly been replacing her expensive designer habit for high street replicas for many months, magazines have been less adaptive to profiling recession shopping. Publications such as British Vogue – who brought back their lauded ‘More Dash than Cash’ pages – are keen to promote they are in tune with the current economic climate – but main fashion stories and magazine covers are still primarily dedicated to the handful of brands who can afford to take out expensive advertising.

Avid readers of fashion magazines will know that September issues are like the bible of monthly glossies, yet the issues on the shelves are relatively svelte, filled with newly frugal fashion advertisers, who are slashing their budgets in the recession, experimenting with putting more ad dollars to use on the Web, and utilising social networking sites, a relatively inexpensive communication tool to reach a plethora of young shoppers.

High-end fashion brands are still buying ads in the glossy pages but you will have noticed that the double page spread has become a single page and more importnatly that there are less ads filling the pages. So too, less fashionable brands, such as automobiles and corporate companies, who once were banished to no-man’s land in the back of the magazine, these days are notching up prime pages in the magazine’s highest read sections.

With ad pages dropping like flies for some publications, American Vogue fell to 427 ad pages in September, down 36 percent from last year; Teen Vogue tumbled to 136 pages, down 31 percent; and W lost the most ad pages out of any Conde magazine, down 53 percent to 185 ad pages.

For comparison’s sake, Elle will carry 21 fewer pages in September at 327 total, and Harper’s Bazaar is estimated to run between 275 and 285 pages, or about 25 percent fewer pages.

Let’s hope once the recession eases fashion will be back on the agenda and advertising will return to its glory days of the early noughties. Somehow it feels as if the world’s priorities have changed and even for brands who are consistently performing, excessive flaunting of luxury goods is not likely to be at the top of consumers’ agenda. It will be interesting to see how fashion and advertising adapts to the new world order.

Image: US Vogue September issue
Source: WSJ

In comparison to the same period of the previous year, luxury group Bulgari recorded a turnover of 396.4 million Euro (-21.7% at current exchange rates and -28.9% at comparable exchange rates), an operating loss of 32 million Euro and a net loss of 40.5 million Euro. The directly from store own brands performed stronger than the wholesale channel, and went up 3.3% at current exchange rates compared to the same period of the previous year. The quarter just ended, progressively proved to be better than the first quarter 2009. Albeit the difficult market a profit was recorded in the month of June. All product categories continued to record a drop in sales during the second quarter. Jewellery posted a 24.7% drop; watches 36.2%; accessories 37.5% and perfumes 20.4%.

Through intensive de-stocking in the wholesale channel, Bulgari penalized sales performance during the second quarter. A partial exception is the perfumes category, which recorded a significant increase in orders from third party distributors, resulting that the division’s turnover in the month of June 2009 went up over June 2008.

All geographical areas in the second quarter as well posted a sharp slowdown in sales. The United States (-51.6%) and Japan (-42%) suffered downturns compared to the previous quarter. Europe posted an overall 22.7% decrease, improving slightly over the -25.5% of the first quarter. The directly owned stores recorded significant growth in the major countries during the period considered compared to the same period of the previous year, except for Spain.

Francesco Trapani, Chief Executive Office of the Bulgari Group, commented: “The results of the second quarter, which improved compared to the previous quarter and are particularly encouraging in terms of growing performance of the directly owned stores, demonstrate that Bulgari is basically attaining its cost control, investment and working capital goals that were previously announced and have been diligently pursued since the beginning of the year, and that the company’s product portfolio continues to meet the favour and taste of its customers.”

Bulgari is one of the global players on the luxury market. In 2008 the Group posted a turnover of 1,075.4 million Euro. Bulgari relies on a exclusive stores network with 268 stores it the world of which 167 as directly owned stores.

Image: Bulgari monologo ring

Brands are being reminded that the customer experience and complaint resolution is still the most important factor for shoppers after new research by reveals that stock availability and staff attitudes were more important than price. 800 exit interviews were conducted in August and September 2009 outside 10 major retailers in high street and out of town locations and the findings have revealed that products being out of stock was the respondents top peeve, with 42% stating it was the most annoying aspect of their typical shopping experience.

Graeme Crossley, CEO of Brand Reputation, the brand management agency that commissioned the research, believes their findings prove that even in the current economic climate, Brands must continue to focus and invest in customer complaint resolution is they are to succeed. “What is clear is that no matter how good an experience a brand provides, customer complaints will always exist. The way a complaint is resolved is critical to the reputation of your brand. Successful Brands proactively demonstrate a genuine desire to resolve the problem and explain the steps they take to resolve the customer’s problems.

Crossley is recommending that Brands implement a Severity Index and resolve the most severe complaints first. He also suggests that Brands should invest more in the dialogue with the customer and less in compensating the customer. “Customers want to feel that they have been listened to and recognised – it isn’t just about money – in our experience customers with a genuine problem will be happy to accept a lower value of compensation if they feel they have been listened to. Demonstrate that you are listening. Show that you understand. Ask the customer how they would like the matter to be resolved. “

“If you can show that you have listened and made it clear that you have taken action then you have the opportunity to generate advocacy – if you go “over and above” the customer’s expectation then customers will advocate your brand more than they would have before they had the problem,” says Crossley.

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Image: Customer Service
Source: Brand Rep, Retail Bulletin

Whilst Iceland’s Eyjafjallajokull volcano continues to send ash into the air, the global debate on the future of the retail industry is postponed until October. Due to the international travel chaos industry leaders from across the globe won’t be able to meet in Berlin this week for the World Retail Congress.

The Congress is postponed until October, as the international programme of speakers and participants struggled to reach Berlin ahead of the scheduled first day on Wednesday. Organisers are hopeful that most speakers will be able to participate when the Congress convenes later this year. Scheduled speakers included Dr. Eckhard Cordes, Chairman & CEO Metro Group; Angela Ahrendts, CEO of Burberry; Hans Schmitt, Senior Vice President, Hugo Boss; Philipp Schindler, Vice President Google; Sarita Nayyar, Head of Consumer Industries World Economic Forum USA; Mindy Grossman, CEO HSN Inc; and Laura Wade-Grey, CEO Tesco.com.

As previously planned, the Congress will take place in Berlin, with confirmed dates for October 2010 to be announced. The Congress is organised by Emap Communications, in association with Deloitte, MasterCard and Oracle.

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