Word: recentered
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...lower end of the price spectrum. Lacroix, who launched his label in 1987 with the financial backing of Bernard Arnault, chief of the mighty LVMH Moët Hennessy Louis Vuitton, is a product of a 20-year creative and business cycle that has come crashing down with the recent global financial crisis. Despite his enormous creativity and influence on fashion, Lacroix could never turn a profit. Many of the press reports on the house's failures blamed the designer's underperforming stores in New York City and Las Vegas. But at the heart of the Lacroix saga...
...typical luxury consumer has traded in high-priced fashion for quality, durable goods at a lower price, according to a recent report by Bain & Company. As a result, the luxury market is expected to shrink by 10% in 2009, with apparel being hit the hardest. So, when French couturier Christian Lacroix filed for court protection from creditors (similar to Chapter 11 bankruptcy protection in the United States) on May 28, it came as no surprise - especially since the filing was timed to same-store sales comps for May, which for department stores like Neiman Marcus and Saks Fifth Avenue were...
...recent Friday afternoon in south Tehran, an auditorium packed with some 6,000 Ahmadinejad supporters was filled with anthemic music as large video screens showed images of Iran's nuclear-energy facilities and the recently launched Omid satellite - achievements the Ahmadinejad Administration prides itself on. Above the crowd, banners with pictures of the Supreme Leader Ayatullah Ali Khameini and Ahmadinejad covered the walls. (See the photo essay "Mahmoud Ahmadinejad: Iranian Paradox...
...There could not be more contrast between an Ahmadinejad campaign event - the stage occupied only by men, supporters dressed in black, the air filled with sentimental music and religious chants - and a recent rally for Mousavi, with supporters covered in shades of green bouncing to uplifting pop music and women standing onstage to represent him. At a recent Mousavi event attended by some 20,000 supporters - but not the man himself - banners carried phrases like "Government of Hope," "Justice" and "Freedom." A video showcased Iran's national icons, starting with heroes of the 1905 constitutional revolution...
Since last September's deadly Marriott hotel blast, which killed over 60 people, the denizens of this once somnolent capital are taking no risks. Over recent months, the streets of Islamabad's well-heeled neighborhoods have been dotted with concrete barriers, and enormous blast walls now block entire buildings from public view...