Word: footwear
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...world's great brands and Prada was a leather-goods firm with a boutique in one of Milan's historic shopping arcades. But since Prada and Bertelli united--in marriage and business--in 1987, they have turned a respectable business into fashion's most watched house. They added footwear, women's ready-to-wear, a younger collection called Miu Miu, menswear, underwear and sportswear. Prada's design sense has made her the most influential designer of the decade, with a ripple effect being felt as far down as the Gap. She has an exquisite offbeat sensibility, creating clothes that look...
...today announced plans to tighten up its testing regulations to include the ?social drug.? Prince Alexandre de Merode of the IOC medical commission said the danger with marijuana was that ?it can give you the impression that you are indestructible.? No word on the IOC?s attitude toward footwear commercials that tell you the same thing...
...hard-core Doc Martens and combat boot look-alikes such as Angels' shiny crimson interpretation ($110). On the other hand, one can find hippie gear like the Brazilian walking shoe ($48) and several pairs of clogs ($45 to $58). For those planning to make a preppier statement with their footwear, the store offers black Paloma mules ($58), as well as open-toed sandals by Steve Madden...
...since then Nike has been shooting bricks. Sales dropped 8% in the company's third quarter, and footwear sales in the U.S. were down 18%. Orders for spring are off too. Inventories ballooned as customers shunned boring products with high prices. And because Nike cranks out an entirely new product line every year, it has been powerless to stop the damage. "You are always six months away from disaster," says Nike's chairman and shoe-bah, Phil Knight. Nike's earnings projections have been dropping like so many Tiger Woods putts. Worse, the company's top shoe salesman, fella named...
Despite the pounding, Nike is still the force in athletics. Reebok chairman Paul Fireman has admitted as much to Wall Street analysts. Curiously, Fireman blamed Nike's ascension for the current malaise of the footwear category. "The way it came about was clearly the proliferation of a single brand," Fireman said at February's Super Show, the industry's big trade fair. As Nike pulled away over the past couple of years, retailers began to up their swoosh orders. At the urging of retailers (they hate having any one brand dominate), competitors began to ape Nike's look. Says Fireman...