Global Vibes
Saks shifts
UNITED STATES: Upmarket department store Saks planned to restructure its product mix in a bid to attract more customers. Chief executive Stephen Sadove said the retailer would look to introduce more value offerings to consumers, while also maintaining its status as a luxury goods provider. The move was believed to have been prompted by the company's latest profit figures, which indicated its discount outlets Saks Off 5th were outperforming its core business. Sadove said the brand restructure would continue after consumer confidence recovered: "You're going to be seeing a migration, not so much for a hame brand name to a low brand name, but within the brands".
High praise
SWEDEN: A new report has labelled Swedish fashion retailer H&M and Spanish fashion house Zara in the top five of the world's most valuable retail brands. The report, by global brand agency Interbrand, valued H&M - which topped the list of the 25 most valuable retail brands in Europe - at £11.1 billion ($A21.3 billion) and Zara, which took the fifth spot at £4.4 billion ($A8.4 billion). Marks & Spencer was valued at £4.1 billion ($A7.8 billion) and came in sixth place. Mango was the only other fashion retailer on the list, valued at £747 million ($A1.4 billion) and coming in 17th place.
Matches mixes
UNITED KINGDOM: London fashion emporium Matches has found a novel way to differentiate stock in its 13 retail stores and e-boutique. The retailer will launch a series of exclusive collaborations with brands such as Belstaff and Raf Simons for Jil Sandar, with items available through its online store first. Only 100 units would be produced for each item and prices would range from £100 ($A206) to £6000 ($A12,135). Meanwhile, London-headquartered luxury e-tailer net-a-porter.com has launched a dedicated discount venture dubbed outnet.com with over 200 designer labels on offer.
KFW Fashion Week
INDIA: Over six dedicated trade events don't seem to be enough for the Indian fashion market. Marketing guru Yudhajit Dutta launched Kolkata Fashion Week earlier this month, with the aim of showcasing more affordable and conservative collections. Dutta claimed 40 domestic and international buyers, including delegates from the United States and South Asia, attended the showcase which featured ranges from Gauri and Nainika Karan, Wendell Rodricks, Zubair Kirmani, Anjana Bhargav, Shane and Falguni Peacock, Manoviraj Khosla, Narendra Kumar and Kolkata-based designers Mona-Pali, Dev n Nil, Abhishek Dutta and Sharbari Dutta.