Word: pedraza
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Dates: during 2000-2009
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...next move for ritzy retailers? Department stores cut new merchandise orders for the upcoming holiday season by at least 20% to bring supply in line with demand, and began pressuring fashion houses to offer lower-priced goods. "They needed to get traffic into their stores," says Milton Pedraza, chief executive of the Luxury Institute...
...Pedraza expects "15% to 20% of brands in luxury categories, particularly the marginal brands, will go under...