Giorgio Armani Talks Succession Stores at the Start of the Crisis, As Luxury Retail Wwdwednesdsportswearay by Miriam Elder Sales Fell by More Than 30 Percent

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Giorgio Armani Talks Succession Stores at the Start of the Crisis, As Luxury Retail Wwdwednesdsportswearay by Miriam Elder Sales Fell by More Than 30 Percent 2 WWD, WEDNESDAY, OCTOBER 28, 2009 WWD.COM Giorgio Armani Talks Succession stores at the start of the crisis, as luxury retail WWDWEDNESDSportswearAY By Miriam Elder sales fell by more than 30 percent. Armani has FASHION Badgley MOSCOW — Giorgio Armani said Tuesday that he had a presence on the Russian market since This season, bridal designers stack on the special Mischka s has begun assembling a close circle of executives 2002, when the designer first visited Moscow to 6 effects, from ruching and rosettes to pearls and to take over his company when his reign as one of open a flagship. tulle, to help any princess-for-a-day play the role. the world’s top designers comes to a close. John Hooks, Armani’s deputy general manager “I understand that eventually I will have to who was recently appointed deputy chairman of GENERAL pass things on,” Armani told a crowd of report- the board, said the global markets appeared to After decades of taking it slow overseas, Limited ers and admirers here, where he will be present- give signs of recovery in recent weeks, but it was 1 ing the fall collections of both Giorgio Armani too soon for optimism. “It’s still tough,” he said. Brands Inc. is charged up and aims to double and Emporio Armani. (Among others recently international revenues to $2 billion in three years. “I am already organiz- promoted at Armani, 2 Strength in North America and new store openings ing an entire team around Giorgio Armani effective Jan. 1, are worldwide boosted Tommy Hilfiger Group’s me who understands what Gianni Gerbotto, who first-half sales 3.4 percent to $1.08 billion. I do and will be, at some has taken on board re- Advanstar’s MAGIC and Project trade shows in point, ready to step in and sponsibility for finan- 4 continue what I do,” he cial management and Las Vegas will be staged together for the first time said. “Of course, I am not investments, and Livio at the Mandalay Bay Events Center in February. eternal. There comes a Proli, who will succeed As more brides postpone weddings and purchases, time when you must hand Gerbotto as general 10 bridal firms are sharpening prices, shortening it over.” manager of Armani.) delivery times and getting more creative. The 75-year-old designer, He detailed no plans The ING New York City Marathon on Sunday is a looking tan but thin after to open new stores in 12 an attack of hepatitis this Russia, which boasts major marketing opportunity for brands ranging summer, has long kept two Giorgio Armani from Asics to DKNY and Tiffany. mum on his plans to choose stand-alone shops, 14 The Consumer Confidence Index fell unexpectedly a successor to the fashion six Emporio Armani in October to 47.7 from 53.4 in September, the empire he built. He contin- stores and 240 stockists lowest reading since July. around the country. ued that line on Tuesday, Devi Kroell’s new Madison Avenue store is an asking the crowd: “I don’t Russia, where a 15 amalgam of what the designer stands for: look bad yet, do I?” small sector of the Retirement was not yet population is known daring new design steeped in the past. on his mind, he said. “This for its love of extrava- Classified Advertisements.................................................................................................15 is my life. No one can step gant spending, rep- TO E-MAIL REPORTERS AND EDITORS AT WWD, THE ADDRESS IS away from their life.” resents 5 percent of [email protected], USING THE INDIVIDUAL’s NAME. Armani was in Moscow Armani’s wholesale WWD IS A REGISTERED TRADEMARK OF ADVANCE MAGAZINE PUBLISHERS INC. COPYRIGHT ©2009 to promote his collections sales, compared with FAIRCHILD FASHION GROUP. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. in a market that has been 10 to 11 percent in VOLUME 198, NO. 89. WWD (ISSN 0149–5380) is published daily (except Saturdays, Sundays and holidays, with one additional issue in January, May, October, November and December, two additional issues in March, April, June and ravaged by the global eco- China, Hooks said, not- August, and three additional issues in February and September) by Fairchild Fashion Group, which is a division of Advance nomic crisis. ing many Russian cus- Magazine Publishers Inc. PRINCIPAL OFFICE: 750 Third Avenue, New York, NY 10017. Shared Services provided by Condé tomers prefer to shop in Europe. Nast Publications: S. I. Newhouse, Jr., Chairman; Charles H. Townsend, President/CEO; John W. Bellando, Executive Vice Sitting in the gilded halls of GUM, the land- President/COO; Jill Bright, Executive Vice President/Human Resources. Periodicals postage paid at New York, NY, and mark shopping center on Red Square, Armani The company will open 40 to 50 stores world- at additional mailing offices. Canada Post Publications Mail Agreement No. 40644503. Canadian Goods and Services said he had faith in the Russian market. He is wide in 2009, he said, and plans to execute a Tax Registration No. 886549096-RT0001. Canada Post: return undeliverable Canadian addresses to: P.O. Box 503, RPO West Beaver Cre, Rich-Hill, ON L4B 4R6 POSTMASTER: SEND ADDRESS CHANGES TO WOMEN’S WEAR DAILY, P.O. Box the first major designer to visit the Russian capi- similar strategy in 2010, despite the crisis-led 15008, North Hollywood, CA 91615–5008. FOR SUBSCRIPTIONS, ADDRESS CHANGES, ADJUSTMENTS, OR BACK tal since the economic crisis hit last fall. hit to profits. ISSUE INQUIRIES: Please write to WWD, P.O. Box 15008, North Hollywood, CA 91615-5008, call 800-289-0273, or “Few capital cities have made the impres- Armani will present fall women’s wear and visit www.subnow.com/wd. Please give both new and old addresses as printed on most recent label. Subscribers: If the Post Office alerts us that your magazine is undeliverable, we have no further obligation unless we receive a corrected sion on me that Moscow has,” he said. “There’s a men’s wear for Emporio Armani at GUM on address within one year. If during your subscription term or up to one year after the magazine becomes undeliverable, strength here, an energy, a great potential.” Tuesday night, and Giorgio Armani fall women’s you are ever dissatisfied with your subscription, let us know. You will receive a full refund on all unmailed issues. First copy Designers like Stella McCartney and wear and men’s wear on Thursday at the luxury of new subscription will be mailed within four weeks after receipt of order. Address all editorial, business, and production correspondence to WOMEN’S WEAR DAILY, 750 Third Avenue, New York, NY 10017. For permissions and reprint requests, Alexander McQueen shuttered their Moscow Barvikha complex on Moscow’s outskirts. please call 212-630-4274 or fax requests to 212-630-4280. Visit us online at www.wwd.com. To subscribe to other Fairchild magazines on the World Wide Web, visit www.fairchildpub.com. Occasionally, we make our subscriber list available to carefully screened companies that offer products and services that we believe would interest our readers. If you do not want to receive these offers and/or information, please advise us at P.O. Box 15008, North Hollywood, CA 91615-5008 or call 800-289-0273. WOMEN’S WEAR DAILY IS NOT RESPONSIBLE FOR THE RETURN OR LOSS OF, OR FOR DAMAGE OR ANY OTHER INJURY TO, UNSOLICITED MANUSCRIPTS, UNSOLICITED ART WORK (INCLUDING, BUT NOT LIMITED TO, DRAWINGS, PHOTOGRAPHS, AND TRANSPARENCIES), OR ANY OTHER UNSOLICITED MATERIALS. THOSE SUBMITTING MANUSCRIPTS, PHOTOGRAPHS, ART WORK, OR OTHER MATERIALS FOR CONSIDERATION SHOULD NOT SEND ORIGINALS, UNLESS Hilfiger First-Half Sales Gain 3.4 Percent SPECIFICALLY REQUESTED TO DO SO BY WOMEN’S WEAR DAILY IN WRITING. MANUSCRIPTS, PHOTOGRAPHS, AND OTHER MATERIALS SUBMITTED MUST BE ACCOMPANIED BY A SELF-ADDRESSED STAMPED ENVELOPE. By Samantha Conti The company said the addition of handbags, footwear and new product groups at Macy’s re- LONDON — Double-digit growth in North sulted in sales growth of 23.3 percent. DAILY We are firewalling off America, coupled with favorable currency fluc- Gehring said sales at Hilfiger’s new tuations and new store openings worldwide, Manhattan flagship are “substantially ahead “ boosted first-half sales at Tommy Hilfiger Group of plan,” and have been given a boost by in- QUote international from the U.S. by 3.4 percent to 772 million euros, or $1.08 bil- ternational customers taking advantage of the lion, from 747 million euros, or $1.05 billion. weak dollar. He said the U.K. business, too, was domestic business. We don’t want to go All figures have been converted at average strong, thanks in part to tourists trading on the exchange rates for the six-month period ending weaker pound. down the dark hole of being successful Sept. 30. In the six-month period, sales in Europe fell Meanwhile, chief executive officer Fred 6.4 percent to 365 million euros, or $511 million, there and getting screwed up here. Gehring said the group’s plans for an initial pub- from 390 million euros, or $546 million, due to ” lic offering remain “on ice,” although a stock mar- a slowdown in wholesale volumes due to more — Leslie H. Wexner, Limited Brands Inc. chairman and ket listing is still part of the company’s vision. cautious buying, the statement said. chief executive officer, on international expansion. Page one. “We are going to consider it for sure, but In the period, the company also reduced its when we go depends on how the market evolves. European customer base by 15 percent in a bid CORRECTION We’ll do it when the time is right,” he said to consolidate its wholesale portfolio.
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