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East European Luxe Clothier Goes Kaput
(Source: Baltic Business News.com)
Bankruptcy proceedings against Versus Invest, a 10-store chain of luxury men's clothing in Eastern Europe, began earlier this month according to Baltic Business News. The chain operated six stores in Estonia, one in Latvia and three in Belorussia. It carried Zegna, Hugo Boss, Calvin Klein and Joop merchandise. . . . keep reading
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Valentino "Solid" Despite Massive Debt
(Source: Bloomberg)
To preserve cash and help pay down debt, Valentino Fashion CEO Stefano Sassi says his company will open about five stores in 2009 compared to ten last year. Three of the new locations will be in China and two in Europe. . . . keep reading
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Hugo Boss Shuffles Execs (1/4)
Hugo Boss has promoted its Chief Operating Officer, Hans Fluri, to Chairman of Red & Black Lux S.a.r.l., the parent company of Valentino Fashion Group, which in turn is the major shareholder of Hugo Boss AG. . . . keep reading
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Luxury Outlook: EXCLUSIVE ANALYSIS
(Source: LuxuryBrandNetwork.com)
Luxury CEOs say the outlook for the fourth quarter and into 2009 is deteriorating rapidly. Even the most optimistic--including LVMH, Coach and Burberry--see growth rates slowing. Current coverage includes: Bulgari, Tifffany, Burberry, Coach, LVMH, Hermès, Williams-Sonoma, Liz Claiborne, Hugo Boss, Tod's Group, Ann Taylor and Nordstrom. . . . keep reading
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Hugo Boss Revenue Up 3%
(Source: LuxuryBrandNetwork.com)
Reporting mixed results by region, Hugo Goss Group reported a 3% sales increase for the nine months ended 30 Sept 2008. Positive currency exchanges added an additional 3%, totaling 6% as reported. . . . keep reading
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