WWD/DNR We Have to Ask Ourselves: Are“ We Fools to Buy Now Or Fools to Sell? One Thing Is Clear: Where There Is a Will, There Is a Price
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“We have the duty to bring beauty to the world, to make women feel better, to make women feel good, to uplift them.” — Alber Elbaz The people issue in any company is the most important“ thing you’ve got to protect. People [ask] Stores are going to be me, how do I value my priorities? Always, my number- magazines“ and magazines one priority is my people. The second is my customer. are going to be stores. The third is my shareholder. Because if I can take care Spring-summer and fall- of the fi rst two, then the third will fall into place. winter seasons are probably ” completely irrelevant. People — Allen I. Questrom just want great product There is a growing sense of individuality in consumers when they can get it. who“ are more confi dent in their own taste and less reliant — Natalie Massenet, Net-a-Porter” on the brand name. There is also the growing resistance to owning the same product as everyone else, as a reaction to This time gives brands luxury brands having become too accessible. — Patrizio di Marco,” Bottega Veneta an“ opportunity to evaluate what’s working, what’s not and to turn the brands on their ear, inside out. If we do that, we can survive. — Josie Natori” WWD/DNR We have to ask ourselves: Are“ we fools to buy now or fools to sell? One thing is clear: Where there is a will, there is a price. ” SECTION II A SPECIAL REPORT — Vittorio Radice, La Rinascente CEO You can have all the ideas“ in the world you want, but if you don’t have the balance sheet or the cash fl ow to reinvest, you SUMMIT really can’t go anywhere. — Roger Farah,” Polo Ralph Lauren Corp. Playing it safe is probably the most unsafe thing you can“ do. Change and change alone is the only thing In the spirit of being that’s eternal….There is no sense of discovery when authentic,“ be vulnerable, you’re comfortable. It’s often the things that we fear in admit your mistakes, organizations that are the primary sources of creativity. apologize, concede defeat. — Glen Senk, Urban Outfi” tters When people see that, it buys permission to operate and make risky, tough decisions “The more pure the message, the more compelling it is to in the way the invulnerable consumers. The more consistently it is communicated across leader never gets. all mediums, the greater the brand equity created. — Angela Ahrendts,” Burberry — William” L. McComb, Liz Claiborne Inc. [Russians] are alive right now. We still have the urge. People want to shop….People“ still like to spend money. They can spend their last dollar. That’s good. They don’t worry that much about tomorrow.” — Alla Verber, Mercury Distribution 2 WWD, WEDNESDAY, NOVEMBER 12, 2008 SECTION II WWD.COM WWD/DNR CEO SUMMIT WWD ®The retailers’ daily newspaper. Published by Fairchild Fashion Group, a division of Advance Magazine Publishers Inc., 750 Third Avenue, New York, NY 10017 PATRICK MCCARTHY, Chairman and Editorial Director EDWARD NARDOZA, Editor in Chief PETE BORN, Executive Editor, Beauty BRIDGET FOLEY, Executive Editor JAMES FALLON, Editor RICHARD ROSEN, Managing Editor DIANNE M. POGODA, Managing Editor, Fashion/Special Reports MILES SOCHA, European Editor LISA LOCKWOOD, News Director DAVID MOIN, Senior Editor, Retail ARTHUR FRIEDMAN, Senior Editor, Markets ARNOLD J. KARR, Senior Editor, Financial LORNA KOSKI, Associate Editor GABE DOPPELT, Entertainment Editor SAMANTHA CONTI, Bureau Chief, London ALESSANDRA ILARI, Bureau Chief, Milan MARCY MEDINA, Bureau Chief, Los Angeles AMANDA KAISER, Asian Editor BOBBI QUEEN, Senior Fashion Editor 4 THE BIG FIX JENNY B. FINE, Associate Editor Allen I. Questrom’s recipe for survival in turbulent times. EMILY HOLT, Eye Editor inside DICK SILVERMAN, Associate Editor VALERIE SECKLER, Marketing Editor, Statistics 6 REDEFINING THE VISION SHARON EDELSON, Senior Editor, Specialty Retail Angela Ahrendts guides the iconic Burberry brand into tomorrow. JULIE NAUGHTON, Senior Prestige Market Beauty Editor ANDREA NAGEL, Mass Market Beauty Editor BETH KWON, Senior Fashion Features Editor 8 AN EMOTIONAL PITCH MARC KARIMZADEH, Designer Sportswear Editor Alber Elbaz of Lanvin discusses the creative process and fashion in the modern world. ROXANNE ROBINSON-ESCRIOUT, Senior Accessories Editor KIM FRIDAY, Senior Fashion Editor, Sportswear ANTONIA SARDONE, Senior Market Editor 10 RISKY BUSINESS ELISA LIPSKY-KARASZ, Deputy Eye Editor Glen Senk asserts there’s no “playing it safe” at Urban Outfitters. JACOB BERNSTEIN, Features Writer, Eye/Media VANESSA LAWRENCE, Associate Eye Editor CECILY HALL, List and Statistics Editor 11 FORGET THE POLITICS MICHAEL AGOSTA, Special Sections Editor Liz Claiborne’s William L. McComb says managing a turnaround starts with attitude. ETTA FROIO, Contributing Senior Executive Editor JOHN B. FAIRCHILD, Contributing Editor at Large 12 CLEAR CHANNELS Roger Farah, Matthew Rubel and Josh Bekenstein emphasize effective communication. WWD.COM AMY DITULLIO, Managing Editor 14 FAMILY MATTERS Bruno Navarro (News Editor); Véronique Hyland (Associate Editor, Fashion); Lauren Benet Stephenson (Associate Editor, Beauty/Lifestyle) With help and advice of her father, husband and son, Josie Natori keeps her lifestyle brand focused. MARKET EDITORS 15 ON TAP Accessories: Sophia Chabbott, Caroline Tell (News), Shoshanna Fischhoff (Fashion); Beauty: Matthew W. Evans, Molly Prior, Michelle Edgar; Furs: Bobbi Queen; Innerwear/Bodywear: Karyn Monget; Ready-to-Wear and Sportswear News: Execs talk economy over cocktails. Whitney Beckett, Rosemary Feitelberg, Julee Kaplan, Ross Tucker; Ready-to-Wear and Sportswear Fashion: Mayte Allende, Court Williams; Media: Irin Carmon, Stephanie D. Smith, Amy Wicks; Technology: Cate T. Corcoran; Textiles: 16 GO YOUR OWN WAY Ross Tucker (News), Court Williams (Fashion) Bottega Veneta’s Patrizio di Marco urges companies to find their own voice. CORRESPONDENTS Atlanta: Georgia Lee (Bureau Chief), Elizabeth Thurman (Assistant Editor); Dallas: Holly Haber (Bureau Chief), Rusty 17 COMPUTER CHIC Williamson (Associate Bureau Chief); Milan: Luisa Zargani, Andrew Roberts, Vanessa Silva; London: Nina Jones, Louise Bartlett, Brid Costello; Los Angeles: Leila Baboi, Hellin Kay (Fashion) Rachel Brown, Anne Riley-Katz, Khanh Natalie Massenet and Net-a-porter bring the store to the customer. T.L. Tran (News); New York: William Cotto; Vicki M. Young (Associate Financial Editor), Evan Clark (Associate Editor, Financial), Matthew Lynch, Alexandra Steigard (Financial Reporters); Amanda FitzSimons (Eye); Cinnamon St. John 18 ITALIAN REINVENTOR (Bookings Editor); Sarah Haight, Jessica Iredale, Venessa Lau (Fashion); Paris: Robert Murphy (Retail and Fashion Vittorio Radice is on a mission to restore La Rinascente to the world of high fashion. News Editor), Jennifer Weil (Beauty), Ellen Groves (Sportswear), Laurent Folcher, Katya Foreman, Chantal Goupil, Emilie Marsh, Natasha Camilla Montrose (Web Reporter/Editor); Boston: Katherine Bowers; Washington: Kristi Ellis (Bureau Chief), Liza Casabona, Susan Watters; Hubert Innocent (Director of Fairchild News Services); Tara Bonet- 20 A FASHIONABLE IMPRESSION Black, Priya Rao, Nick Axelrod (Editorial Assistants) Alla Verber of Mercury Distribution says Russians’ brand awareness has vaulted in recent years. LAYOUT/COPYDESK PETER SADERA, Copy Chief 22 REARRANGING PRIORITIES MAUREEN MORRISON, Deputy Copy Chief WSL’S Wendy Liebmann says focusing on customers is key. LISA KELLY, Senior Copy Editor Adam Perkowsky, Kim Romagnuolo (Copy Editors) PHOTOS IN THIS SECTION BY KYLE ERICKSEN AND ROBERT MITRA ART DEPARTMENT ANDREW FLYNN, Group Art Director SHARON BER, AMY LOMACCHIO, Associate Art Directors COURTNEY MITCHELL, Designer Eric Perry, Junior Designer; Tyler Resty, Art Assistant PHOTO/IMAGING ANITA BETHEL, Photo and Imaging Director CARRIE PROVENZANO, Photo Editor CARTER LOVE, Photo Coordinator PHOTOGRAPHERS New York: John Aquino, Talaya Centeno, George Chinsee, Steve Eichner, Kyle Ericksen, Thomas Iannaccone, Robert Mitra BUSINESS JOHN COSCIA, Editorial Business Director CHRISTINE GUILFOYLE, Publisher ED HECHT, Associate Publisher JOEL FERTEL, Associate Publisher, Innerwear/Legwear/Textiles DALE REICH, Associate Publisher, Media & Trade Shows VANESSA MAHLAB, Associate Publisher, Sportswear TIA POTTER, Associate Publisher, Technology DEBRA GOLDBERG, Associate Publisher, Beauty LISA ENGERT, Executive Director, Fine Jewelry JENNIFER FISHMAN, Executive Fashion Director JANINE MARKS, Account Director JENNIFER MARDER, Associate Publisher, Accessories ELIZABEETH DETMER, Beauty Director TRACY HADEL, Account Director DEBORAH LEVY, Senior Account Manager, West Coast RON TROXELL, West Coast Director SUSAN SMITH ELIZABETH HAYNES, European Advertising Director, Paris ODILE EDA-PIERRE, Account Manager, Paris GUGLIELMO BAVA, Advertising Director, Italy OLGA KOUZNETSOVA, Account Manager, Italy RALPH ERARDY, Executive Director of Sales, Fairchild Fashion Group GREGORY REMILLARD, General Manager, Fairchild Online DREW DIX, Executive Sales Director, Classified, Fairchild Fashion Group RICHARD CHERICHELLA, Business Director, Fairchild Fashion Group KAREN CHIU, Business Manager, Fairchild Fashion Group JANET JANOFF, General Manager, WWD RON WILSON, Director of European Operations JODI MARCHISOTTA, Associate Publisher, Marketing and Promotions DANIELLE MCMURRAY, Creative Services Director GENA KELLY, Executive Director, Manufacturing & Distribution CHRIS WENGIEL, Group Production Director PROVIDENCE RAO, Production Manager VICTOR KIM, Production Coordinator COLLEEN COMPSTON, Executive Assistant to the President TO DIAL DEPTS. 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