Word: retailing
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Dates: during 2000-2009
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...since the opening of Fiorucci on East 59th Street in the 1970s or Reminiscence on MacDougal Street in the 1980s has a fast-fashion retail brand made such a splash in Manhattan. On Thursday morning the model Kate Moss will join Arcadia Group chairman Sir Philip Green to cut the ribbon on British retail chain Topshop's long-awaited U.S. debut, at Broadway and Broome Street in SoHo. Originally scheduled to hit the Big Apple last fall, the delayed flagship opening comes at a time when other relatively inexpensive fashion brands like H&M and Zara are reporting declining sales...
...appeal to a broad selection of consumers. The price is also right: Topshop's coveted Baxter jeans are $80, and the average shoe price is about $100. The brand's Oxford Circus flagship store in London - which, at 90,000 sq. ft., is one of the biggest fashion retail spaces in the world, is a favorite pit stop for celebs like Chloë Sevigny, Keira Knightley and Kirsten Dunst. In New York City, Green and his team of 17 designers plan to stock the 25,000-sq.-ft. retail space with 200 to 300 new styles every two weeks. That...
...What Green, who was knighted in 2006 for his contributions to the retail business, is hoping will set the fast-fashion chain apart from the competition will be the daily updated merchandise, the high-fashion quotient and the customer service, which includes free personal shoppers. Customers can call ahead for an appointment with a "style adviser" in the store or have a selection of up-to-the-minute merchandise brought to their home for free. Not too shabby, but the question remains: Will London street style play on Broadway...
...because of numerous sexual scenes that the ratings board considers over the line." The NC-17, which forbids admission to those under age 17, is a toxic label. Many theater chains won't play a film with that rating; some newspapers and TV networks won't advertise it; and retail behemoths like Wal-Mart won't stock the eventual DVD. (See the 100 best movies of all time...
...this means fashion lovers are cutting back on spending. "Right now we are seeing signs of de-premiumization - meaning that shoppers are trading down for cheaper items," says Victoria Grankina, a retail analyst at leading Russian investment bank Troika Dialog. "Overall, the luxury market really struggled in December and January, since the consumer was feeling quite under the weather. In March, we have been seeing some signs of stabilization, but we are not sure this is a trend. No one can predict when this will end." (See pictures of Paris couture...