Prada's flagship store in Milan | Source: LA Times
Prada frets about tourist stayaways (Reuters)
“First-quarter profit doubled at the Milan-based maker of colored Miu Miu dresses, outpacing revenue growth, but the company is not immune from concerns about the euro zone, a sluggish U.S. recovery and a possible slowdown in Asia.”
Lululemon CEO Eyes Holidays After Sales Miss (Bloomberg)
“Chief Executive Officer Christine Day was unapologetic after projections for second-quarter sales missed analysts’ estimates, sparking the biggest stock decline in 10 months. Day cited ‘strong double-digit’ growth in same-store sales and said the company was focused on innovation that will position the Vancouver-based yoga clothier for a strong year-end holiday season.”
Gilt’s main flash-sales biz profitable (Reuters)
“Gilt Groupe’s main daily-deal business is profitable and the online fashion retailer is ‘doubling down’ in this area, while eyeing overseas growth opportunities, co-Founder Alexis Maybank said on Thursday.”
In Conversation with François-Henri Pinault, PPR (Luxury Society)
“Since its inception in 1963, PPR has undergone profound transformations. The building materials business, originally led by François Pinault, has grown to become a formidable force in the luxury sphere, as the owner of iconic French and Italian brands such as Yves Saint Laurent, Boucheron, Gucci and Bottega Veneta.”
Getting Candid With Michael Kors (WWD)
“Michael Kors may have attained multimillionaire status, but Wednesday night at 92Y the designer was more eager to dish about how a kid from Long Island wound up with a global business worth billions.”