New life in Bangkok
BANGKOK: The defunct Bangkok Fashion City (BFC) project may be given new life, following an approach by the Department of Industrial Promotion. The department said selected fashion programs would be proposed to the government in an attempt to revive the project begun by the Thaksin Shinawatra government to make the capital a regional design and fashion hub. Critics of the project complained a lot of taxpayers' money was wasted on events such as fashion shows featuring foreign models.
UNITED STATES: Apparel giant VF Corp - the owner of lifestyle brands Nautica, Vans, The North Face, Wrangler and Lee - has agreed to sell its intimate apparel division to Fruit of the Loom. It is understood the sale, for $US300 million ($A380 million), will leave VF Corp free to realign its business strategy to focus on its jeanswear, outdoor, imagewear and sportswear businesses. The company is targeting annual revenue growth of 8 percent, including acquisitions, and expected organic annual growth of 5 percent. VF plans to use the proceeds of the sale of the business to fund the repurchase of its shares.
Nike openings
UNITED STATES: Athletic brand Nike has announced plans for a new global growth strategy that will help generate $23 billion in sales by 2011. The brand will be launching new products for six target areas: running, basketball, soccer, woman's fitness, men's training and sport culture. Other plans include expanding its direct-to-consumer businesses, including full-price stores, factory outlets and e-commerce. The company also plans to open 100 full-price Nike stores worldwide.
Online Iqons
LONDON: A new online fashion community called Iqons has been launched to rival myspace, youtube and msn. Promoted as a free online community focusing on all things fashion and style, the site allows users to showcase their work and network with designers, photographers, stylists, public relations staff, retailers, models and like-minded individuals. High profile names such as Maria Luisa Poumaillou, Vivienne Westwood, Alber Elbaz and John Galliano have already signed on in support of the project and will help spot emerging talent while also leaving constructive remarks on users' profiles.
Guess what next
UNITED STATES: Apparel and accessories label Guess is planning to launch a chain of stores called G by Guess that will be stocked with affordable clothing geared to a young crowd. The G by Guess stores, which will carry men's and women's apparel and accessories, will be open in shopping centers near middle- and lower-income families and in outlet malls across the US with the first store expected to open early next month. The company also plans to extend its reach into footwear with plans to open four to six footwear stores this year in North America to see how the concept works out and then expand to Europe and other areas.