The $1.5 trillion overhaul of the U.S. tax system that President Trump signed into law just before Christmas has put retailers and fashion brands into an unfamiliar situation with some extra cash coming and incentives to put it to work.
The experts agree that legislating a much-lower corporate tax rate, falling to 21 percent from about 35 percent, will give the corporate world of fashion a significant boost and might well help workers, too. The biggest beneficiaries will be U.S.-domiciled corporations that derive a majority of profits in the U.S.
Among the biggest gainers will be the department store operators such as Nordstrom Inc., Kohl’s Corp. and Macy’s Inc., which derive essentially all their profits from the U.S. It has been estimated that the tax overhaul would boost Nordstrom’s earnings per share 25.5 percent for 2018, while Kohl’s may gain 22 percent and Macy’s take would increase by 21 percent. Continue reading
Having first opened a private art salon in Paris more than three decades ago, Trend Union Founder, Li Edelkoort, will soon take her career full circle by unveiling a public design gallery in her company’s headquarters.
According to a source with knowledge of the matter, Philo will not work for another label in the near future and her successor at the LVMH Moët Hennessy Louis Vuitton-owned house will be named in the coming months.
With irony you can ask questions that are delicate, but there’s a thin line between irony and sarcasm so I have to be careful not to overstep it. I made a bag for my first men’s show at Balenciaga, which was based on the classic Ikea bag. It was ironic but also authentic.
Congratulation to the Spanish Director Miren Arzalluz who has just been appointed at the head of Palais Gelliera.
Gucci reinvents “Instagram”. Earlier this year Gucci has launched an application called “Gucci Places” using geolocation services on user’s phones that sends them a push notification when they are near a Gucci shop. Once in the place, the user can earn corresponding badges and share them on social media.
After years of intermittent protests against Michael Kors, People for the Ethical Treatment of Animals said the company is going fur-free. Kors chief executive officer John Idol confirmed that the brand would indeed be going fur-free by December 2018, noting the decision “marks a new chapter as our company continues to evolve its use of innovative materials.”
From May 10th to October 7th an exhibition planned by Alaia himself will be presented by the Design Museum as Azzedine Alaia. The exhibition will explore his passion and energy for fashion as he himself intended it to be seen showcasing more than 60 pieces personally selected by the iconic designer.
Salvatore Ferragamo has inaugurated a new advanced artisanal laboratory inside his Osmannoro plant.
Tough the dates and times have not yet be confirmed, the Fédération de la Haute Couture et de la Mode on Monday released the list of the official runway schedule for Paris Men’s Fashion Week from January 17th to 21th.
Christian Louboutin and Disney are making magic once again. Following 2012’s reinterpretation of the “Cinderella” slipper and 2014’s “Maleficent” shoe, Louboutin has reunited with Walt Disney Studios to create a showpiece and a set of shoe designs for the release of “Star Wars: The Last Jedi.”
The new store, located on Sloane Street, is taking a sustainable approach to design. After paying tribute to Gianni Versace’s legacy with a high-energy spring 2018 show in September, Donatella Versace has kept the celebratory spirit alive and brought it to London.
American designer Casey Cadwallader as its new artistic director of women’s ready-to-wear, succeeding David Koma, who is leaving the house after four years at the helm. The 38-year-old studied architecture at Cornell University and has 17 years of experience, including positions as design director of rtw and accessories at Narciso Rodriguez and director of design at J.Mendel. He has also held positions at Loewe and Tse.
Saint Laurent will reveal 16 unique pieces at Colette, which are part of a special art and photography project by world renowned Japanese artist Nobuyoshi Araki.
On Saturday, Reuters released a report saying that Gucci is under investigation for tax evasion. Italy’s Guardia di Finanza, the national police force specializing in financial crimes late this week visited the fashion house’s offices in Milan and Florence for fiscal checks.
A new Kimono exhibit will be held in Tokyo to bring together traditional craftsmanship, high-tech robotics, and leading contemporary artists from all over the world. Dubbed Kimono Roboto, the project is being led by Hong Kong-based company Melco Resorts and Entertainment.
Forever 21 isn’t giving up an effort to cancel Gucci’s trademarks for its classic, two-tone stripe design detail, and it’s using the designs of numerous other brands to support its case.
Giambattista Valli is launching an activewear capsule collection and gearing up for a retail push, marking the first steps of his label’s planned expansion under its new partnership with the billionaire Pinault family.