Word: brandings
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Despite the progress, not everyone has as much faith in the department store's future as Elfers and Baker do. "Lord & Taylor is a problem child, a tarnished brand, and has a long way to go," says Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail-consulting firm. "I am not sure, in the current competitive climate, that Lord & Taylor can stand on its own two feet and be a survivor." Davidowitz points to the fact that Baker paid top dollar for a minnow in a sea of powerful retail companies. The store is loaded with debt while seeking...
...upstairs, near the brand-new Armani wing, where a customer or two browsed suits, the fitting rooms, which double as sales associates' offices, were abuzz with personal fittings. Any free time for associates would go to calling clients to inform them of the perfect snug Balenciaga jacket or lavish Nina Ricci ball gown to fill out their holiday wardrobes. Of course, part of this is standard luxury protocol at Neiman Marcus, where you will rarely find a knit that isn't cashmere and where the shoes are Manolo Blahnik but in exclusive styles a customer won't see anywhere else...
...editor at British Vogue, spotted the potential of an East London shoemaker. With seed capital in the form of a £150,00 ($307,000) loan from her father Tommy Yeardye, who made his fortune with Vidal Sassoon hair products, she set about turning Jimmy Choo into a global brand...
...used to be that fashion designers were stars, and when it came to time-honored accessory brands, consumers didn't really know?or care?who designed the goods as long as the logo or label was there. But times have changed. From Marc Jacobs at Louis Vuitton to Reed Krakoff at Coach, the name behind the bag, not on it, is becoming more and more familiar to shoppers. The most recent addition to this crowd is burgeoning American fashion star Derek Lam, who in December signed on to become the first creative director of luxury Italian leather-goods brand...
...strategy involved sidelining Choo, who maintains a bespoke business and is no longer part of the company; relentlessly supporting his niece by marriage Sandra Choi, whose designs have been key to the brand's success; and learning the language of business along the way. A partnership was formed with Equinox Luxury Holdings in 2001, and by 2004, when Lion Capital acquired the majority shareholding, Jimmy Choo was valued at $207 million. Earlier this year, Jimmy Choo was acquired by private-equity fund TowerBrook for $379 million. Mellon is thought to have netted about $49.2 million from the deal, the majority...