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    <id>tag:blog.wwd.com,2008-06-26:/wwd//1</id>
    <updated>2012-05-23T20:38:26Z</updated>
    
    <generator uri="http://www.sixapart.com/movabletype/">Movable Type Enterprise 4.32-en</generator>

<entry>
    <title>Occupy Wall Street? How About Occupy Fifth Grade?</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/occupy_wall_street_how_about_o-12-05" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5924720</id>

    <published>2012-05-23T20:36:50Z</published>
    <updated>2012-05-23T20:38:26Z</updated>

    <summary>Imploding euro? U.S. jobs outlook still scary? No matter. Boding well for the luxury market, the one percent seems destined to carry on, for another generation at least....</summary>
    <author>
        <name>Bridget Foley- Executive Editor</name>
        
    </author>
    
        <category term="Business" scheme="http://www.sixapart.com/ns/types#category" />
    
    
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        <![CDATA[Imploding euro? U.S. jobs outlook still scary? No matter. Boding well for the luxury market, the one percent seems destined to carry on, for another generation at least. <br><br>]]>
        <![CDATA[That is, if Tuesday's New York Post feature on one Sam Lesser is representative of a larger whole. The Post described Lesser as "one of a long line of average Joe investors" who still hadn't received confirmation of his desired purchase of $10,000 worth of Facebook shares. Only Lesser isn't adult Lesser, but 11-year-old Sam, an Upper East Side private school boy -- The Town School (the press release of students' service activities is no doubt being prepared as I write) -- who acquired the 10 grand for his investing disposal from a company he started to sell stuff to classmates and neighbors. (As the great P.T. Barnum said, "There's one born every minute," but that's another topic.)<br><br> 
Sam, photographed at his desk, his countenance one of forlorn determination, has that look of adolescent refinement (delicate features, politely tousled hair) that a generation ago would have gained him entry to a "Dead Poets Society" casting call. In real life, ceo responsibilities and playing the stock market probably leave Sam little time for outside-the-classroom perusals of the classics.<br><br> 
Aside from the fact that maybe Sam should be happy if he didn't get any Facebook stock at $38 a share, the implication captured by the Post is that he and his mother think woe-is-Sam. "It's really disappointing, because we could have made money on this," Sam lamented. "Nobody seems to have any answers at Fidelity....We feel misguided and misled," Sam's mom said. Misled -- maybe. Misguided -- you bet. <br><br> 
I'm not against kids learning about money -- it's essential. If, for whatever reason a child on his own or with his family has the wherewithal for him to learn in five-figure increments, Godspeed. But who in that family thought this kind of going public -- in the Post -- was a good idea? Earth to mom: Real average Joe kids rake leaves and, when old enough, bag groceries. An iPhone is a major acquisition. <br><br> 
Sam's mom added that he intended to direct some of his potential profits to Lance Armstrong's Livestrong initiative. Sure. Right after boosting his position with Google.]]>
    </content>
</entry>

<entry>
    <title>Moving in on Penney&apos;s</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/moving_in_on_penneys-12-05" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5915830</id>

    <published>2012-05-17T22:18:25Z</published>
    <updated>2012-05-17T23:23:03Z</updated>

    <summary>In the ritualized warfare that is earnings season, J.C. Penney Co. Inc. chief executive officer Ron Johnson lost a battle in the first quarter, posting a steeper-than-expected loss of $163 million....</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
        <category term="Business" scheme="http://www.sixapart.com/ns/types#category" />
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[In the ritualized warfare that is earnings season, J.C. Penney Co. Inc. chief executive officer Ron Johnson lost a battle in the first quarter, posting a steeper-than-expected loss of $163 million. <br /><br />]]>
        <![CDATA[It's not surprising the former Apple retail star is now getting some flack -- the most painful of which came in the form of the company's worst day in the stock market in more than 30 years. Something had to give. After the build up to and theatrics surrounding the unveiling of his transformation plan in January, people were bound to be disappointed once the gritty work of reinvention got under way.<br /><br />
Macy's Inc. is the immediate beneficiary of the transformation and is outperforming in malls that it shares with Penney's. Analysts want Macy's to be even more aggressive. <br /><br />Take this exchange from the department store's quarterly conference call last week:&nbsp;<div><br /></div><div><b>Nomura Securities analyst Paul Lejuez:</b> "So Karen, you never changed your marketing spend or focus once you heard officially what J.C. Penney was doing?"<br /><br /><b>
Macy's chief financial officer Karen Hoguet:</b> "That's correct." <br /><br /><b>
Lejuez:</b> "How come?" <br /><br /><b>
Hoguet:</b> "I'm sorry?" <br /><br /><b>
Lejuez:</b> "Why not? I'm just wondering why there hasn't been kind of a shift on the fly and maybe you smell the blood in the water, maybe go after them a little bit harder than you would have otherwise."<br /><br /><b>
Hoguet:</b> "I think we were going hard after them before." <br /><br />
Macy's does smell blood and no doubt they and others will be ready to make their move soon.<br /><br />
But just as the build up to Johnson's big reveal was overheated, the gleeful takedown has been overdone as well. Realistically, Johnson, who has the support of Penney's major shareholder, Bill Ackman, is giving himself a year.<br /><br />
"We expect 2013...one year later, will be the year when takeoff starts," Johnson said at a meeting with analysts in New York. "We won't have a single coupon to go up against, a single promotion; all we'll have is new products, new presentation, and a lot better understanding of our strategy. So we're going though one tough year."<br /><br />
The proof is ultimately going to be in the company's results and if that one year starts to become two and then three, Johnson's going to run out of rope.</div>]]>
    </content>
</entry>

<entry>
    <title>The Passionate Reader: May 8, 2012</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/the_passionate_reader_may_8_20-12-05" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5899324</id>

    <published>2012-05-08T19:20:09Z</published>
    <updated>2012-05-08T19:42:55Z</updated>

    <summary>Nell Freudenberger&apos;s &quot;The Newlyweds&quot; (Borzoi/Alfred A. Knopf) manages to do the opposite of what many chick-lit books do. Rather than make extraordinary lives seem dull, it makes ordinary ones seem fascinating. It&apos;s the story of Amina Azid, who leaves Bangladesh...</summary>
    <author>
        <name>Lorna Koski</name>
        
    </author>
    
        <category term="Eye" scheme="http://www.sixapart.com/ns/types#category" />
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[<a href="http://blog.wwd.com/wwd/assets_c/2012/05/lorna-scan003-thumb-200x299-8703.jpg"><img alt="Thumbnail image for lorna-scan003.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/05/lorna-scan003-thumb-200x299-8703-thumb-200x299-8723.jpg" class="mt-image-left" style="float: left; margin: 0pt 20px 20px 0pt;" height="299" width="200" /></a>Nell Freudenberger's "The Newlyweds" (Borzoi/Alfred A. Knopf) manages to do the opposite of what many chick-lit books do. Rather than make extraordinary lives seem dull, it makes ordinary ones seem fascinating. <br><br>It's the story of Amina Azid, who leaves Bangladesh for Rochester to marry George Stillman.<div><br /></div>]]>
        <![CDATA[The way that their lives together unfold is riveting, funny and charming. She wants to bring her parents to live with them before they have a child; he is against it. When he finally agrees, she goes to Bangladesh to get her parents and bring them back and everything goes wrong: Her uncles are trying to extract cash from their siblings, her parents -- believing that she has married a rich man -- while her father, an unsuccessful businessman, has been refused a visa the first time around. She is also still a little bit in love with her cousin Nasir. Her husband has lost his job, but then he gets another, better, one. She works in a yoga center, then a Starbucks. Of such mundane events is an enchanting narrative constructed.<br /><br />
<a href="http://blog.wwd.com/wwd/lorna-scan002.jpg"><img alt="lorna-scan002.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/05/lorna-scan002-thumb-200x299-8743.jpg" class="mt-image-right" style="float: right; margin: 0pt 0pt 20px 20px;" height="299" width="200" /></a>In "The Beginner's Goodbye"  (Alfred A. Knopf), Pulitzer Prize-winning Anne Tyler's latest book, the writer takes on another in her series of lovable losers. Aaron, who runs a family-owned vanity press, along with his sister, Nandina, has lost his wife, Dorothy, a no-nonsense doctor, in a freak accident in which a tree crashes into their house. The book details his ways of healing from that experience, which at first include seeing apparitions of his wife -- whom he talks to -- in a variety of places, probably because he is unable to say farewell to her. The most successful series his press publishes is one of beginners' guides -- hence, his is a "beginner's goodbye." He begins to realize that, just perhaps, their marriage was less happy than he thought it was, that they were less well-suited than he thought they were, and that he may find another romance. Eventually, he learns to let go. The many eccentric characters and the unexpected twists of their lives give the book considerable appeal.<br /><br />
<a href="http://blog.wwd.com/wwd/lorna-scan006.jpg"><img alt="lorna-scan006.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/05/lorna-scan006-thumb-200x299-8763.jpg" class="mt-image-left" style="float: left; margin: 0pt 20px 20px 0pt;" height="299" width="200" /></a>In "More Than You Know" (Doubleday), New York Times best-selling writer Penny Vincenzi's central character is Eliza Clark, who has a promising career as a fashion editor in Swinging London, but who gives it all up at the insistence of her new husband, entrepreneur Matt Shaw, when they have their daughter, Emmie. Posh girl marries working-class boy, and all is well for a time, but when their marriage begins to deteriorate, he threatens to take their daughter and seize ownership of Summercourt, a country house that has been in Eliza's family for a long time and which he helped rescue financially. <br /><br />Matt's sister, Scarlett, has a complicated romantic life, too. Then there's Jeremy Northcott, an old flame of Eliza's, and Mariella Crespi, a fashion icon, rounding out the cast of characters. The problem is that the book becomes considerably less exciting -- and at times a bit of a drag -- when we leave the environs of fashion publishing.<br /><br />
<a href="http://blog.wwd.com/wwd/lorna-scan001.jpg"><img alt="lorna-scan001.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/05/lorna-scan001-thumb-200x299-8764.jpg" class="mt-image-right" style="float: right; margin: 0pt 0pt 20px 20px;" height="299" width="200" /></a>"The Kissing List" (Hogarth) by Stephanie Reents is a series of interlocking tales about twentysomethings in and out of love. There is a fair amount of kissing, but that is by no means all that goes on. The young people in these stories are intelligent, with presumably bright futures, but they keep getting in their own (and others') way. And their lives are by no means gilded. The brother of one dies in Iraq, while another has recurrent cancer. <br /><br />There are a number of amusing lists and footnotes. However, the characters are at times less than compelling. Perhaps that is because of their youth; they are a bit unformed.<br /><br />
<a href="http://blog.wwd.com/wwd/lorna-scan004.jpg"><img alt="lorna-scan004.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/05/lorna-scan004-thumb-200x299-8747.jpg" class="mt-image-left" style="float: left; margin: 0pt 20px 20px 0pt;" height="299" width="200" /></a>"Little Century" (Farrar, Straus and Giroux) by Anna Keesey tells the story of the settling of Oregon. Eighteen-year-old Esther Chambers goes west after she loses her mother, to find a distant cousin, cattle rancher Ferris Pickett. She becomes a homesteader in a small cabin by a lake called Half-a-Mind. If she can remain there for five years, the property will become part of her cousin's expansive spread. But then she finds herself in the middle of a range war, with her loyalties divided between her allegiance to her own homestead and that to a new friend, a sheepherder, Ben Cruff. Which should she choose? In a move she never would have expected, she evolves into a newspaperwoman.<br /><br />
<a href="http://blog.wwd.com/wwd/lorna-scan005.jpg"><img alt="lorna-scan005.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/05/lorna-scan005-thumb-200x299-8749.jpg" class="mt-image-right" style="float: right; margin: 0pt 0pt 20px 20px;" height="299" width="200" /></a>Graham Swift's "Wish You Were Here" (Alfred A. Knopf) is the tale of Jack Luxton, who owns a seaside caravan park, and who was formerly a farmer, who learns that his brother, Tom, has been killed in Iraq. He must accept his brother's remains and come to terms with what went on in their family. His father, for instance, has committed suicide by shooting himself. His wife refuses to go to Tom's funeral, which he must face alone. <br /><br />However, portentous as these events might seem, the book is actually a little dull, and difficult to engage with.
]]>
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</entry>

<entry>
    <title>The Lazy Shopper</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/the_lazy_shopper-12-05" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5894541</id>

    <published>2012-05-04T23:54:52Z</published>
    <updated>2012-05-04T23:56:10Z</updated>

    <summary>The human animal is a wondrous, industrious creature with finely tuned faculties that have been put to work reshaping the world....</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
        <category term="Business" scheme="http://www.sixapart.com/ns/types#category" />
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        The human animal is a wondrous, industrious creature with finely tuned faculties that have been put to work reshaping the world. 
        <![CDATA[But when it comes to shopping, we're total slugs. <br><br>
Merchants get this, or they're starting to. <br><br>
Amazon has made a high art of frictionless consumerism. Once you have an account with your shipping address and so on, you can surf around the site and buy things with a single click. It's billed to your account, it shows up at your door. It's retail magic.<br><br>
Apple gets it, too. Hang around in one of their stores long enough and someone will not only ask if you need help, they'll take you to the object of your desire, swipe your card on the spot, e-mail you a receipt and send you on your way. The cash register literally comes to you.<br><br>
Was there ever an easier way to spend $499?<br><br>
And the distance between one's back account and a retailer's till is shrinking even further with what's known as "contactless payments," a card or small device that can be pressed onto a sensor to transfer your hard-earned dollars at checkout.<br><br>
A study by MasterCard Advisors showed that people who started using the MasterCard PayPass system increased their spending with the related account by an average of almost 30 percent during the first year.<br><br>
That doesn't mean that they went on a spending spree. Those people might not have spent more, they might simply have used their other cards less, or not forked over as much cash. Some novelty factor might also be playing a role. <br><br>
Even so, 30 percent is a big increase. Contactless payments might be the wave of the future or not, but they work, I think, because they appeal to our intense laziness. <br><br>
There's a lot of talk about retail being a mature industry. About all the cut throat back and forth. The overstoring of America. <br><br>
Retailers compete on everything -- on product, on price. They square off in marketing campaigns filled with print ads, TV, social media and celebrity spokespeople. <br><br>
All that stuff matters, but the next retail winner might well be the one that makes life easiest for shoppers. <br><br>
Who's going to let them be laziest? <br><br>
The cash register has already broken its bonds and is roaming around the store, actively looking for customers.<br><br>
What's the next step? ]]>
    </content>
</entry>

<entry>
    <title>Envelopes Stuffed With Cash</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/envelopes_stuffed_with_cash-12-05" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5884600</id>

    <published>2012-05-01T15:46:07Z</published>
    <updated>2012-05-01T16:23:52Z</updated>

    <summary> What message is really being sent by envelopes stuffed with cash? Wal-Mart, of course, is looking into allegations that it sped up its Mexican expansion with a series of bribes. And Avon has for years been looking into whether...</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
        <category term="Business" scheme="http://www.sixapart.com/ns/types#category" />
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[
What message is really being sent by envelopes stuffed with cash?<br /><br />
Wal-Mart, of course, is looking into allegations that it sped up its Mexican expansion with a series of bribes. And Avon has for years been looking into whether its entry into China had some illicit help.<br /><br />
]]>
        <![CDATA[About half the people I talk to are shocked by the bribery allegations. The other half is shocked the first half is shocked.<br /><br />
Bribery is a simple fact of life in many parts of the world. Another simple fact is that large, U.S.-based multinational companies are held to a higher standard. Bribes that are simply the cost of doing business for a Mexican company could theoretically mean jail time for a U.S. executive operating in the area. <br /><br />
There are all kinds of moral and economic arguments for why bribes are bad.<br /><br />
In the case of the allegations against Wal-Mart, the question becomes, Why?<br /><br />
As Jonathan Low, a partner and co-founder of consulting firm Predictiv, asks, "With all their resources, with their technology, with their efficiency, why do they need to do this? Why can't they just come in and steamroll these [Mexican] municipalities?"<br /><br />
It could be that the world has simply upped its game and U.S. firms are starting to feel the strain.<br /><br />
"There is a concern in corporate circles that people outside the U.S. aren't as respectful of the U.S. as they used to be and it makes the world more competitive for U.S. corporations," Low says. "Is this a sign of a U.S. [company] caving to pressures in ways they wouldn't have comprehended a decade or two ago?"<br /><br />
That's an open question.<br /><br />
But with companies taking an ever more global outlook, this is the right time to ask.]]>
    </content>
</entry>

<entry>
    <title>Wal-Mart Domination: A Visual History</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/wal-mart_domination_a_visual_h-12-04" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5869250</id>

    <published>2012-04-20T02:04:34Z</published>
    <updated>2012-04-20T03:57:36Z</updated>

    <summary>It can be hard to get a handle on Wal-Mart with its 2.1 million workers, 37.2 square miles worth of retail space and $447 billion in revenues. As the retailer has settled into utter domination and fended off accusations that...</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
        <category term="Business" scheme="http://www.sixapart.com/ns/types#category" />
    
    <category term="walmart" label="Wal-Mart" scheme="http://www.sixapart.com/ns/types#tag" />
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[<a href="http://blog.wwd.com/wwd/assets_c/2012/04/walmart-1-thumb-200x300-8663.jpg"><img alt="Thumbnail image for walmart-1.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/04/walmart-1-thumb-200x300-8663-thumb-200x300-8664.jpg" class="mt-image-right" style="float: right; margin: 0pt 0pt 20px 20px;" height="300" width="200" /></a>It can be hard to get a handle on Wal-Mart with its 2.1 million workers,
 37.2 square miles worth of retail space and $447 billion in revenues.<br />
<br />
As the retailer has settled into utter domination and fended off 
accusations that it unfairly overwhelms main street stores and doesn't 
treat workers properly, it's been tricky for the company to talk about 
itself. Wal-Mart has a story to sell to Wall Street, but also has to 
keep peace with employees and customers.<br />
<br />
One small but telling piece of this effort is the cover of its annual 
report, the evolution of which illustrates the company's move from 
regional upstart bragging about its growth to global behemoth trying to 
connect with everybody and only partially succeeding. <div><br /></div>]]>
        <![CDATA[<a href="http://blog.wwd.com/wwd/assets_c/2012/04/walmart-3-thumb-200x300-8686.jpg"><img alt="Thumbnail image for walmart-3.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/04/walmart-3-thumb-200x300-8686-thumb-200x300-8666.jpg" class="mt-image-left" style="float: left; margin: 0pt 20px 20px 0pt;" height="300" width="200" /></a>Wal-Mart was always a company on the move and this showed up regularly in its reports to shareholders, five of which prominently feature tractor trailers -- the company was always more practical than sexy. The first shipping-centric cover came in 1976, with one lonely truck pushing out onto the vast empty highway (actually, it's a two-lane road), inviting investors to just imagine the possibilities while at the same time continuing to project a small-town image. <br /><br />By 1980, that truck had apparently found its destination and the company was ready to talk money, shouting about "Wal-Mart's billion dollar year" with bright blue lettering on a dull gray background.<br /> <br />Having hit the billion-dollar milestone, the covers drifted, as they have periodically. Several covers were nearly all white, there's an artsy shot of a truck in an empty parking lot at night, a cover celebrating the firm's 20th anniversary.<br /><br />Then, in 1984, Wal-Mart latched onto the slogan "Our people make the difference" and there's a series of pretty garish covers featuring delightfully Midwestern employees smiling as they stock shelves; one executive works the phone from a spartan desk. In 1985, one of the employee's <a href="http://blog.wwd.com/wwd/walmart-2.jpg"><img alt="walmart-2.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/04/walmart-2-thumb-200x300-8683.jpg" class="mt-image-right" style="float: right; margin: 0pt 0pt 20px 20px;" height="300" width="200" /></a>eyes are closed. The 1986 cover touts "The People of Wal-Mart," but there's no picture to go along with the tag line, just a black background.<br /> <br />The people of Wal-Mart get more cover shoots, but the tag line goes away. A more magazinelike layout takes over and, in 2000, declares Wal-Mart "Retailer of the Century" and boasts of international expansion. Wal-Mart was clearly ready to brag again. A worker named Karl, of course, holds a German flag. (The retailer struggled in Germany for years before pulling out.) Smiling workers of seemingly every demographic take over for a few years.<br /><br />By 2006 the customer is firmly in the center and shopping carts abound. Wal-Mart, with its growth-curve flattening out, seemed ready to highlight the people who shop there.<br /><br />The go-go year of 2007 features a shopping cart overloaded with goodies. Then the economy turns. The 2008 report, which came out just as the financial crisis started to brew, underscores, "We save people money so they can live better." The image is odd, almost a wake for the economy's bubble days. There are three framed photos&nbsp; of shoppers passing through various life stages -- a birthday, a wedding, a graduation. The pictures are grouped around a pair of receipts. <br /><br />The save money and live better theme continues today. <br /><br /><a href="http://blog.wwd.com/wwd/walmart-4.jpg"><img alt="walmart-4.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/04/walmart-4-thumb-200x300-8685.jpg" class="mt-image-left" style="float: left; margin: 0pt 20px 20px 0pt;" height="300" width="200" /></a>The recently released 2012 report marks the company's 50th anniversary and is probably its slickest production yet. The anniversary and the mission statement are right up top. There's a shot of an early Wal-Mart, a mix of employees happily plugging away. There are also shoppers, both in the store and enjoying the benefits of all those low prices at home. The company name is centered at the bottom. It's like Wal-Mart after 50 years has figured out, at least visually, how to get out of its own way.<br /><br />The expert reading of the Wal-Mart covers is split, at least among the two experts I contacted.<br /><br />"To me, it isn't too polished which communicates a certain amount of straightforwardness and authenticity," said Mike Toth, president and chief creative officer of branding firm Toth + Co. "They are keeping it real." <br /><br />He thought they could do more with the save money, live better promise, though.<br /><br />A chief marketing officer of a major retailer, who requested anonymity, said Wal-Mart was "all over the map" and that the family values theme seemed "token and inauthentic." <br /><br />"The multi-culti casting is extremely contrived and forced as though the brand is attempting to speak to every possible demographic -- 'checking off' the boxes," the marketing executive said. "They've missed a major opportunity to create an ongoing and consistent identity that is authentic -- for the people and of the people -- which would engender lasting trust."<div><br /></div>]]>
    </content>
</entry>

<entry>
    <title>Letting Go Online</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/letting_go_online-12-04" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5858520</id>

    <published>2012-04-13T23:29:48Z</published>
    <updated>2012-04-13T23:31:20Z</updated>

    <summary>Fashion&apos;s best brand managers are, at their core and in the nicest possible way, control freaks....</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        Fashion&apos;s best brand managers are, at their core and in the nicest possible way, control freaks. 
        <![CDATA[They have a strong vision and they stick to it. They are on-message all the time and that's what helps them be heard above the din. When Ralph Lauren opens a shop, sends a look down the runway, lays out an ad campaign, signs up for a cause or shows off his fine car collection, it's all so, Ralph Lauren -- and almost everybody knows just what being "Ralph Lauren" means.<br><br>
In this regard, there are many who aspire to be Ralph Lauren, and some come close.
Younger brands, though, might not be able to enjoy or even want to achieve the same kind of control. The consumer now wants to play a more active role and interact with brands.<br><br>
Empowering the shopper with a sense of control has, in fact, become the point of differentiation for e-commerce Web sites, according to new research made available online by the Journal of Retailing this week.<br><br>
Having collected questionnaires from 220 online shoppers in the U.S. and Europe, four researchers put some of their academic mojo to work and found that online shopping experience is no longer determined by the skill of the user or the speed of a Web site.
Those two are kind of no-brainers, but get this -- the researchers also found that, "While a high degree of emphasis is still placed upon the visual design, graphical features, and technical functionality of e-retail Web sites, these are of less importance to the customer." 
So it doesn't even matter, so much, that a Web site is attractive. Or at least, that won't really help set one apart.<br><br>
"Of more importance is a sense of control and empowerment," the researchers said. "This is a powerful insight for e-retailers because control influences the emotional feelings generated in online transactions."<br><br>
The study found three ways brands can help online users feel they have control. They can make the site easy to use, they can allow users to customize the experience so they can "form their own rituals and routines" and they can enable consumer-to-consumer interaction, letting shoppers exchange thoughts.<br><br>
This is still just the tip of the iceberg. Consumers have been grabbing more control for some time -- venting their frustrations, ideas and kudos in online reviews, using electronic stores as showrooms as they buy their gadgets online and so on. Ralph Lauren did indeed get in the game in a way, allowing customers to customize their Polo shirts. <br><br>
This is a game, though, that's going to be played best by new brands born in this environment. Take Warby Parker, the online eyewear company. The site has options, but it isn't overloaded. You can take a picture of yourself and try on glasses digitally. They will send you five frames to test out at home. They have free shipping, free returns. The consumer feels very much like a part of the process. <br><br>
There's more to do to become more interactive and it's going to be the new companies that will truly be able to accept collaboration into who they are.<br><br>
As Neil Young -- an aging rocker who's always managed to seem young -- said: "We were right, we were giving/And that's how we kept what we gave away."<br><br>
Many of today's big brands are just never going to operate that way.<br><br>
The study, "Online Customer Experience in e-Retailing: An empirical model of Antecedents and Outcomes," was put together by Susan Rose and Moira Clark of the University of Reading, Phillip Samouel of Kingston University and Neil Hair of the Rochester Institute of Technology. ]]>
    </content>
</entry>

<entry>
    <title>Will Avon Have a Revlon Moment?</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/will_avon_have_a_revlon_moment-12-04" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5847928</id>

    <published>2012-04-06T21:02:18Z</published>
    <updated>2012-04-06T21:06:27Z</updated>

    <summary>In deal parlance, the very public letter Coty chairman Bart Becht sent to Avon chief Andrea Jung earlier this week is called a &quot;bear hug.&quot; That&apos;s because taking a $10 billion takeover offer directly to shareholders is a particularly uncomfortable...</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
        <category term="Business" scheme="http://www.sixapart.com/ns/types#category" />
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[In deal parlance, the very public letter Coty chairman Bart Becht sent to Avon chief Andrea Jung earlier this week is called a "bear hug." That's because taking a $10 billion takeover offer directly to shareholders is a particularly uncomfortable way for Coty to express its affection.<br /><br />]]>
        <![CDATA[
Avon's board -- which is fending off bribery investigations, looking for a replacement for Jung and struggling to turn around its business -- clearly didn't want this.<br /><br />
The direct merchant brushed off three letters of interest from Coty last month and accused the suitor of failing to make a "real offer" and trying to get a "free look" at its books.<br /><br />
The ball isn't so much back in Coty's court as it is up for grabs. The $10 billion figure is out there and if someone -- Coty, a private equity house, another strategic player -- wants Avon, it looks like they'll have to make a better offer. <br /><br />
All Avon can do is play defense, right up until they have their "Revlon Moment." That's when the legal precedent known as the "Revlon Rule" kicks in.<br /><br />
When it looks probable that a company will be sold, boards have a legal duty to get the best price for shareholders -- they become auctioneers. The rule was established in the Eighties when Revlon tried to thwart a takeover by investor Ronald Perelman by accepting a lower takeover from a would-be white knight.<br /><br />
Coty's Becht has said he doesn't want to pursue a "hostile" takeover, but for Avon the landscape is looking more and more unfriendly. <br /><br />
A higher offer could force the Avon board to begin a process that ends with the firm going to the highest bidder.<br /><br />
Given all the troubles at Avon, the question has become: Can bidders get comfortable enough with the state of the company to make a better offer? And then, once they do get a look at its books, will they still want to pay up?]]>
    </content>
</entry>

<entry>
    <title>How to Read Your Boss&apos; Paycheck </title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/how_to_read_your_boss_paycheck-12-03" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5837483</id>

    <published>2012-03-30T19:09:38Z</published>
    <updated>2012-03-30T19:10:56Z</updated>

    <summary>For even small shareholders, executive compensation is a big issue -- no matter how much a company&apos;s leaders talk about doing right by investors and employees, it matters how the top dogs are motivated and paid....</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
        <category term="Business" scheme="http://www.sixapart.com/ns/types#category" />
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        For even small shareholders, executive compensation is a big issue -- no matter how much a company&apos;s leaders talk about doing right by investors and employees, it matters how the top dogs are motivated and paid.
        <![CDATA[For the rest of us, the annual proxy statements that reveal just how much public companies pay, or overpay, their top executives is one of the really, supremely great opportunities to ogle and chuckle and ultimately shake our heads at how out of whack the world of money is.<br /><br />
To aid in this payday snooping, which of course is fully sanctioned by the Securities and Exchange Commission, I submit this guide to reading your boss's paycheck. We cover the biggies, but there's lots more to know if you're interested. This guide only works if you're at a publicly held company. Otherwise, you'll have to rely on the time-tested, if less exact, method of checking up on what kind of car your boss drives and where they live.<br /><br />
Step 1: Go to this SEC Web site, http://www.sec.gov/edgar/searchedgar/companysearch.html, and put in the name of your company.<br /><br />
Step 2: Click on the document button for the definitive proxy filing, which goes by the name DEF 14A. The first item should be described as DEF 14A or the definitive proxy statement. Click on the link. Proxies come out once a year and include information relating to the company's upcoming annual meeting. We're in the midst of proxy season now, though some companies are on a different calendar, which will have them lifting the kimono at another time of year. <br /><br />
Step 3: Find the Summary Compensation Table, which is often listed in the index. <br /><br />
Step 4: Gawk.<br /><br />
There will be lots of jaw-dropping stuff, but know what you're looking at. <br /><br />
The "salary" category reflects, well, salary. <br /><br />
"Bonus" is somewhat misleading and often shows nothing. This category isn't for rewards relating to performance  but for things like a signing bonus.<br /><br />
The dollar figures reported in "stock awards" and "option awards" can also be misleading. Your boss might not ever see that money, given changes in the company's stock price and when the options roll out. <br /><br />
"Non-equity incentive plan compensation," that's the real cash performance bonus.
There is also information describing changes in pension value. <br /><br />
Finally, and not to be overlooked, there is a category devoted to "all other compensation." <br /><br />Look at the footnote. Companies each have their own way of describing other compensation, but this is where you'll see the costs of a dedicated car and driver, a health club membership, private trips on company aircraft, security details and so on.<br /><br />
The proxy doesn't warn you to not go blabbing all over the office about how often the ceo uses the jet for family vacations, so I will. Don't. Just look at the numbers -- though you'd probably be better off if you didn't -- be amazed for a while and get on with life.<br /><br />
The proxy also doesn't tell you that what these executives make is not necessarily what they're worth. A few are probably underpaid. Many are overpaid, having spent years failing upward, moving on before it became clear that they're not very good at their jobs but good at seeming like they're good at their jobs. <br /><br />
Executives get what the market will bear. There are only so many people who are seen as being able to run a gigantic retailer or a big fashion house, and so when it comes time to negotiate a pay package, companies pay up.]]>
    </content>
</entry>

<entry>
    <title>Game On, Li-Ning Suits Up</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/game_on_li-ning_suits_up-12-03" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5826709</id>

    <published>2012-03-26T18:59:18Z</published>
    <updated>2012-03-27T17:48:23Z</updated>

    <summary>For years there have been murmurs, whispers and fears on Seventh Avenue that China was not content to be fashion&apos;s manufacturing muscle, that one of the country&apos;s powerhouse producers would turn the tide and start exporting its brand to the...</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
        <category term="Retail" scheme="http://www.sixapart.com/ns/types#category" />
    
    <category term="china" label="China" scheme="http://www.sixapart.com/ns/types#tag" />
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[For years there have been murmurs, whispers and fears on Seventh Avenue that China was not content to be fashion's manufacturing muscle, that one of the country's powerhouse producers would turn the tide and start exporting its brand to the rest of the world. <br />]]>
        <![CDATA[That day might have finally come.<br /><br />
China's own Li-Ning, the world's third-largest activewear company, officially launched a U.S. e-commerce site last week. "The Villain" basketball sneaker goes for $100 and the "Turningpoint" basketball jacket goes for $80.<br /><br />
At first glance, the brand -- named after a Chinese sports star who won six medals in the 1984 Olympics -- seems to be kind of limping into U.S. <br /><br />
A Web site does not seem like the vanguard of a great market-changing force. Plans to scoop up some of the excess real estate on the market and roll out a fleet of stores, yes. But a Web site? <br /><br />
Once my colleague Karyn Monget got Ray Grady, general manager of the brand's U.S. operation, talking, the online venture began to look more interesting.<br /><br />
"We are launching into the [digital] retail landscape at a time when retail is evolving and changing -- Gap is shuttering stores while Amazon is wildly successful....Our target demographic skews younger, Millennials or even if they are not Millennials, they are open to change," Grady said.<br /><br />
"Our approach is candidly what our competitors are trying to reinvent themselves with....We have a pilot campaign with Pandora and we are currently in talks with other brands....The brand is also showing up in sneakerhead blogs, a huge [basketball] subculture, and when we talk to the running category it's a slightly different voice with a biographical, philosophical approach," he said. <br /><br />
Yes, it would seem more solid if Li-Ning charged in with plans for 300 stores. But that rarely seems to have worked in the past. Think of Esprit, which last year admitted the brand had "lost its soul" and said it would close down its U.S. stores.<br /><br />
Still, it's not clear that Li-Ning is the game changer. <br /><br />
For one, the brand is working through some issues.<br /><br />
The company's revenues slipped 4.8 percent to 4.29 billion yuan, or $655 million at average exchange for the six months ended June 30. Profits attributable to shareholders declined 49.5 percent to 293.7 million yuan, or $44.9 million and the company said it is taking steps to revitalize its brand and reform its distribution.<br /><br />
If Li-Ning doesn't take the U.S. market or the world by storm, it seems reasonable to assume some other Chinese brand eventually will. And when the roll out comes, there's nothing that says it has to look like anything we've seen before.]]>
    </content>
</entry>

<entry>
    <title>Is Apple a Luxury Retailer? </title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/is_apple_a_luxury_retailer-12-03" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5802180</id>

    <published>2012-03-16T17:23:22Z</published>
    <updated>2012-03-27T18:25:56Z</updated>

    <summary>Lofty price points? Check....</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[Lofty price points? Check.<div><br /></div>]]>
        <![CDATA[Maniacal focus on design? Check.&nbsp;<div><br /></div><div>Prominent logo, Fifth Avenue flagship, super service, legions of brand-ambassador fans? Check.</div><div><br /></div><div>Exclusivity? Well... Apple embodies almost all of the telltale markings of a luxury retailer. The brand misses on exclusivity, though. The much-anticipated new iPad was launched today and diehards wanting to snatch one up at 12:01 a.m. could. At Wal-Mart.&nbsp;
</div><div><br /></div><div>Sexy, eh?&nbsp;</div><div><br /></div><div>The established core of luxury has long used scarcity to its advantage, pushing the notion that they sell something that is individually special. Hermÿs bags are not just statements of fashion and wealth, but works of art made by craftsmen with years of training. They represent and signal a refined elegance that cannot be bottled any other way. Or that's the pitch.&nbsp;</div><div><br /></div><div>Apple products, on the other hand, are designed in California, but mass-produced in a considerably less-than-luxe environment in China. Many Apple products are sold at retailers that don't share the company's attitude toward service. Everything's available online from anywhere.&nbsp;</div><div><br /></div><div>Still, the firm successfully sells its products as something special. That's because people can customize and pour so much of their lives into them.&nbsp;</div><div><br /></div><div>The company is a luxury retailer that's transcended scarcity and its approach has been too successful to argue against.&nbsp;</div><div><br /></div><div>The company's retail sales shot up 44 percent last year to $14.1 billion. Average revenues per store increased 27 percent to $43.3 million from 2010. With its Fifth Avenue store and outposts on the Upper West Side and in SoHo, Apple is believed to be the single largest retail concept by revenues in Manhattan. This in a town with a monster Saks and Macy's as well as two Bloomingdale's.&nbsp;</div><div><br /></div><div>Apple has not done all of this on its own. It has not invented a new societal trend -- the company's late co-founder and engine, Steve Jobs, after all, is renowned most of all for pulling existing things together in more appealing ways and then selling them with a great flair.&nbsp;</div><div><br /></div><div>Here the brand is tapping into a new notion of luxury, a much broader take on the good life that is available to many more people. It's a notion that started perhaps with Starbucks and $4 cups of coffee and prewashed lettuce in the supermarket and it's led us here, to gadgets that can now talk back to you.&nbsp;</div><div><br /></div><div>Apple is successful as a retailer, in part, because has all the elements of luxury but the exclusivity. It's a club that lots more people can join. The service is good, but the sales staff is wearing T shirts.&nbsp;</div><div><br /></div><div>Nudging the luxe door open is a very good and lucrative idea. It means giving more people the opportunity to buy something that's special.</div>]]>
    </content>
</entry>

<entry>
    <title>The Passionate Reader: March 15, 2012</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/the_passionate_reader_march_15-12-03" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5800620</id>

    <published>2012-03-15T22:26:41Z</published>
    <updated>2012-03-27T18:26:53Z</updated>

    <summary> Everybody&apos;s heard of Henry VIII, but what of his father, Henry VII? The founder of the Tudor dynasty was a usurper who had little claim to the English throne, but proved to be an extremely modern monarch, who found...</summary>
    <author>
        <name>Lorna Koski</name>
        
    </author>
    
        <category term="Eye" scheme="http://www.sixapart.com/ns/types#category" />
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[ <a href="http://blog.wwd.com/wwd/Winter%20King%20Cover.jpg"><img alt="Winter King Cover.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/03/Winter%20King%20Cover-thumb-200x298-8623.jpg" class="mt-image-right" style="float: right; margin: 0pt 0pt 20px 20px;" height="298" width="200" /></a>Everybody's heard of Henry VIII, but what of his father, Henry VII? The founder of the Tudor dynasty was a usurper who had little claim to the English throne, but proved to be an extremely modern monarch, who found that he could control his people by surveillance and by manipulating markets rather than simply by waging war. <br /><br /><br />]]>
        <![CDATA[Now, English historian Thomas Penn has written "Winter King: Henry VII 
and the Dawn of Tudor England" (Simon &amp; Schuster). During Henry 
VII's 25-year reign, the War of the Roses continued, with skirmishes and
 battles of every kind -- then gradually drew to a close. The king had 
made a brilliant match with Elizabeth of York, who gave him six children
 -- enough for a dynasty. But after his wife, whom he deeply loved, died,
 he grew steadily more paranoid and the micromanaging of his kingdom 
that had been an asset became a liability. Penn brings an era which is 
not often written about vividly to life. <br /><br /><a href="http://blog.wwd.com/wwd/Dykstra_CLOVER_HJ.jpg"><img alt="Dykstra_CLOVER_HJ.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/03/Dykstra_CLOVER_HJ-thumb-200x301-8584.jpg" class="mt-image-left" style="float: left; margin: 0pt 20px 20px 0pt;" width="200" height="301" /></a>Then there's Natalie Dykstra's "Clover Adams: A Gilded and Heartbreaking
 Life" (Houghton Mifflin Harcourt). Little has been written about Marian
 "Clover" Adams, née Hooper, the wife of Henry Adams (as in "The 
Education of..."), who was removed from her husband's celebrated 
autobiography because she committed suicide at 42, after 16 years of 
marriage and a long period of depression. When Henry originally said he 
wanted to marry her, his brother Charles objected, saying of her family,
 "Heavens! -- No! -- They're all crazy as coots." Sadly, Charles turned 
out to be right. One of Clover's aunts, Sue Bigelow, had killed herself 
years before, and both her siblings, Edward Hooper and Ellen Gurney, 
took their own lives after her death. (Ironically, there was also 
remarkable longevity in her family, and two of her nieces lived to be 
over 100, and another over 90, extraordinary for women born in the 
1870s.) Two years before she died, Clover, whom Henry James considered a
 great wit, had discovered photography in earnest, and one of the 
interesting features of this biography is Dykstra's extensive 
explication of Clover's photos. But she was so self-conscious about her 
own appearance that she disliked being photographed, hid her face when 
she was shot and, unlike most women of her class, never had her portrait
 painted. Curiously, even her husband emphasized more than once in 
letters to friends before their marriage that she was not a beauty. 
Dykstra suggests that his habit of enjoying the company of beautiful 
women (probably platonically) in the latter part of their marriage 
contributed to his wife's depression.<br /><br />
<a href="http://blog.wwd.com/wwd/Voyagers%20of%20the%20Titanic%20hc%20c.JPG"><img alt="Voyagers of the Titanic hc c.JPG" src="http://blog.wwd.com/wwd/assets_c/2012/03/Voyagers%20of%20the%20Titanic%20hc%20c-thumb-200x302-8586.jpg" class="mt-image-right" style="float: right; margin: 0pt 0pt 20px 20px;" width="200" height="302" /></a>Next comes Richard Davenport-Hines' new book, "Voyagers of the Titanic: 
Passengers, Sailors, Shipbuilders, Aristocrats, and the Worlds They Came
 From"  (William Morrow), which surprisingly manages to say something 
new about the disaster -- the 100th anniversary of the event is on April 
14 and 15. Julian Fellowes, creator and executive producer of "Downton 
Abbey," has filmed a four-part miniseries, "Titanic," to mark the 
occasion, which will debut on ABC in the U.S., beginning April 14. 
Davenport-Hines meticulously combed through the records left by 
survivors and other archival material. <br /><br />Particularly interesting 
is his detailed accounts of the way in which the lifeboats were loaded 
and the order in which they left. He also describes the role that women 
played in boats; some of the sailors didn't know how to row, and it was 
the women who often took charge and did it themselves, among them the 
redoubtable Scottish peeress Lady Rothes.<br /><br />
Also notable is the description of the amount of disinformation 
disseminated by the daily newspapers in the U.S. Then there's the way in
 which the British papers spun the disaster to make it seem as if the 
incident, with its famous women-and-children-first procedures, was an 
illustration of the cultural superiority of England. The Titanic was 
traveling too fast, wireless messages warning of ice were ignored and 
the hole in the side of the liner, Davenport-Hines writes, was made when
 the captain made the mistake of turning the ship, rather than facing 
the iceberg head-on. (The granddaughter of Charles Lightoller -- the 
second officer on the ship and the highest-ranking one who survived -- 
however, blames a steering error which inadvertently took the ship right
 instead of left, and the fact that Captain Edward Smith ordered that 
the ship continue to move after it hit the iceberg.) Another survivor, 
J. Bruce Ismay -- chairman and managing director of the White Star Line, 
which owned the ship -- was blamed for the disaster, and he was certainly
 responsible for reducing the number of lifeboats from 48 to 20 to make 
room for more luxurious features. The accident led to a number of signal
 changes in established naval procedures.<br /><br />
<a href="http://blog.wwd.com/wwd/Five%20Bells.jpg"><img alt="Five Bells.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/03/Five%20Bells-thumb-200x300-8604.jpg" class="mt-image-left" style="float: left; margin: 0pt 20px 20px 0pt;" width="200" height="300" /></a>"Five Bells," by the noted Australian writer Gail Jones (Picador), is a 
novel set in a very different watery setting -- Sydney's Circular Quay. 
Jones creates an engrossing narrative which follows four characters over
 the course of one day. Pei Xing is a Chinese immigrant whose parents 
were killed and who was imprisoned during the Cultural Revolution; 
James, a teacher, feels consuming guilt over the drowning of a child in 
his care; Ellie, his high-school sweetheart, has moved from a small 
Australian town to the big city, obsessed by their early romance, and 
Catherine, a journalist and recent immigrant from Ireland, is haunted by
 the death of her brother in a car crash. (The title refers to the 
ringing of a ship's bells to mark certain specific sailors' watches.)<br /><br />
There are many beautiful picture books about, but one of the most 
appealing is Thames &amp; Hudson's "Beaton in Vogue," edited by 
Josephine Ross, which traces the life and very luxe times of the protean
 photographer/illustrator/costume designer. Particularly intriguing (and
 rarely seen in America) are his World War II photos, from a shot of a 
Union Jack flying in the <a href="http://blog.wwd.com/wwd/Beaton%20in%20Vogue%209780500290248.jpg"><img alt="Beaton in Vogue 9780500290248.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/03/Beaton%20in%20Vogue%209780500290248-thumb-200x238-8587.jpg" class="mt-image-right" style="float: right; margin: 0pt 0pt 20px 20px;" width="200" height="238" /></a>rubble of Bloomsbury Square to a scene of WRNS 
officers dining in the Painted Hall, Greenwich, to a view of a Gurkha 
sniper in Burma. It's also amusing to revisit Beaton's own writing on 
fashion, in such pieces as "Putting on Local Colour" (1931), in which he
 describes what the fashionable woman should buy when traveling and how 
to wear -- and not to wear -- it. And, of course, Beaton's drawings 
throughout have great charm.<br /><br />
<a href="http://blog.wwd.com/wwd/stein-collection002.jpg"><img alt="stein-collection002.jpg" src="http://blog.wwd.com/wwd/assets_c/2012/03/stein-collection002-thumb-200x233-8625.jpg" class="mt-image-left" style="float: left; margin: 0pt 20px 20px 0pt;" width="200" height="233" /></a>Also impressive is "The Steins Collect" (San Francisco Museum of Modern 
Art/the Yale University Press), edited by Janet Bishop, Cecile Debray 
and Rebecca Rabinow, the companion book to the same-named show of the 
paintings collected by siblings Gertrude, Leo and Michael Stein and 
Michael's wife, Sarah, currently at the Metropolitan Museum of Art. It's
 the first show of their collection in 40 years. The differences between
 the Steins and other American collectors such as the Potter Palmers and
 the H.O. Havemeyers who headed to Paris at the end of the 19th century 
were that the Steins were not wealthy and they didn't bring the 
paintings they bought back to America, but instead kept them in Paris, 
showing them to anyone who was interested. In this way, they helped to 
create the reputations of artists such as Henri Matisse and Pablo 
Picasso. The range of their holdings was amazing, with such works as 
Matisse's multicolored "Woman With a Hat" (1905), "The Girl With the 
Green Eyes" (1908) and "Le Bonheur de Vivre" (1905-1906); Picasso's "Boy
 Leading a Horse" (1905-1906), "Lady With a Fan" (1905) and "La 
Coiffure" (1906), not to mention his magisterial "Gertrude Stein" 
(1905-1906); Edouard Manet's "Ball Scene" (1873), Paul Cezanne's "Five 
Apples" (1877-1878) and many, many others. <br /><br />"The Steins Collect" 
is comprehensive and fascinating, and includes pages of period 
photographs of the apartments the Steins occupied in Paris, with a 
number key showing where specific paintings were hung.]]>
    </content>
</entry>

<entry>
    <title>Macy&apos;s and Penney&apos;s Stir Chicken or Egg Debate</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/macys_and_penneys_a_chicken_or-12-03" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5786901</id>

    <published>2012-03-09T00:53:04Z</published>
    <updated>2012-03-27T18:58:42Z</updated>

    <summary>When Karen Hoguet, Macy&apos;s chief financial officer, took a gentle swipe at Ron Johnson&apos;s plan to revive J.C. Penney, she sparked an interesting side debate....</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
        <category term="Business" scheme="http://www.sixapart.com/ns/types#category" />
    
    <category term="jcpenneysinc" label="J.C. Penney&apos;s Inc." scheme="http://www.sixapart.com/ns/types#tag" />
    <category term="macysinc" label="Macy&apos;s Inc." scheme="http://www.sixapart.com/ns/types#tag" />
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[When Karen Hoguet, Macy's chief financial officer, took a gentle swipe at Ron Johnson's plan to revive J.C. Penney, she sparked an interesting side debate. 
<br /><br /><br />]]>
        <![CDATA[Speaking at an investment conference in New York, Hoguet said, "I have 
been with Federated/Macy's 30 years, I've grown up believing the product
 is where it all starts, and I think you'll find the Macy's merchants 
and our approach is a lot more focused on product and merchandising than
 I think the approach [Penney's is] taking vis-à-vis marketing."
<br /><br />Let's put aside the fascinating interplay between Macy's and 
Penney's, which are increasingly competitive.&nbsp;
<br /><br />Rjuzukonis, a WWD.com reader, noted: "Actually, Ms. Hoguet is 
incorrect. Great retail starts with the consumer, the product is 
basically a creation of our need." And another reader, frostie, added: 
"I agree....The customer will tell you if it's good or not."
<br /><br />While some of this can and should be chalked up to simple 
semantics, it's a good question: Do you zero in on product, which will 
then attract shoppers, or do you focus on the shoppers and let it all 
flow from there?
<br /><br />It might sound like six of one and half a dozen of another, but 
the two approaches could lead to very different businesses. The brewing 
Macy's-Penney's battle might yet prove that.
<br /><br />Making and presenting great product is one thing and hard enough
 to do. Understanding consumers and what they want, especially right 
now, is probably even harder.
<br /><br />And despite the recent bout of optimism fueled by increasing 
consumer confidence, rising luxe sales and new highs in retail stocks, a
 lot of people, even when they do have jobs, are still hurting.
<br /><br />Just look at the results of WSL Strategic Retail's online 
survey, which was conducted at the height of the holiday shopping season
 and released this month. The research found that 52 percent of 
Americans are struggling to afford the necessities. And six-figure 
earners consider themselves "middle-class," while nearly 30 percent in 
the $100,000 to $150,000 income bracket claim they can only afford the 
basics.
<br /><br />Those are pretty stark numbers and, if they're on target, this 
spring revival of optimism should be looked at with some caution -- no 
matter if your retail starting point is the product or the consumer.]]>
    </content>
</entry>

<entry>
    <title>Where Jil Sander and Ron Johnson Meet, Simply</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/where_jil_sander_and_ron_johns-12-03" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5771721</id>

    <published>2012-03-05T16:31:33Z</published>
    <updated>2012-03-27T19:07:11Z</updated>

    <summary> Jil Sander and Ron Johnson might be on opposite ends of the fashion spectrum, but they&apos;re still on the same wavelength. Just listen to what they&apos;re saying....</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
        <category term="Business" scheme="http://www.sixapart.com/ns/types#category" />
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        <![CDATA[
Jil Sander and Ron Johnson might be on opposite ends of the fashion spectrum, but they're still on the same wavelength. Just listen to what they're saying.<br /><br />
]]>
        <![CDATA["There seems to be a craving for authenticity and clear visions," said Sander, who has long championed the minimalist aesthetic and who is returning again to the fashion house that bears her name. "Fashion is experimentation.... You have to break rules, if there is a good reason. And now is the right time to be daring; there are few new ideas."<br /><br />
And from his perch atop J.C. Penney, Johnson said last week: "Our success is tied to simplicity. Our new corporate strategy requires that we dramatically simplify our operations and realign our organization so that associates are in the right position to do their best work and deliver on our vision."<br /><br />
That vision involves cutting the massive chain's brands to 100 from 400 and setting up Johnson's Fair and Square program, which changes the Penney's pricing positioning just 12 times a year.<br /><br />
The challenges of Sander's new/old design gig and Johnson's adventure in high-stakes corporate turnaround and rebranding are, for sure, very different. Certainly neither is afraid to break some of the china as they go about their business.<br /><br />
I won't guess how Sander will fare third time around or if Johnson will successfully make Penney's "America's favorite store," but I do know both are playing with the powerful forces of clarity and that's a good starting point. <br /><br />
By emphasizing simplicity both are raging against a world that has become cluttered -- with everything from stores and digital stores to fashion shows and television shows about fashion shows.<br /><br />
A concise point of view will help Sander and Johnson be heard. <br /><br />
Whether or not these storied brands are successful going forward will depend on what they're saying when people actually tune in and how that message is received.<br /><br />
The trick seems to be consistency. The megabrands that have proven they have staying power are, if nothing else, on message all the time. Steve Jobs built Apple into a powerhouse constantly focusing on design, from the products to the ads and packaging. Ralph Lauren has built an empire on American romance, Calvin Klein on sex appeal, Hermÿs on craftsmanship.  <br /><br />
Lululemon and Under Amour have stuck to their athletic lifestyle knitting, like Nike and Adidas before them, and succeeded. <br /><br />
Simplicity is a good way to cut through and get people's attention. With a million e-mails, Facebook posts and tweets coming in, it might be the only way.
]]>
    </content>
</entry>

<entry>
    <title>Adjusting the Bar</title>
    <link rel="alternate" type="text/html" href="http://www.wwd.com/fashion-blogs/adjusting_the_bar-12-02" />
    <id>tag:blog.wwd.com,2012:/wwd//1.5731460</id>

    <published>2012-02-23T18:32:11Z</published>
    <updated>2012-03-27T19:14:33Z</updated>

    <summary>If you think this blog is not good, you&apos;re reading it the wrong way....</summary>
    <author>
        <name>Evan Clark- Deputy Editor, Business</name>
        
    </author>
    
    
    <content type="html" xml:lang="en-US" xml:base="http://blog.wwd.com/wwd/">
        If you think this blog is not good, you&apos;re reading it the wrong way. 
        <![CDATA[<br />Yes, the net quality of this post, under generally accepted editorial principles, is about two-thirds of last week's blog. (There was no comparable year-ago blog.) But that is a stuffed-shirt way of viewing blogs that only accountants and federal regulators could love.

<br /><br />Following the lead of public fashion companies that are now filing year-end reports, I am adopting a new metric for evaluating my blog performance called ABAR -- adjusted blog analysis regimen.

<br /><br />This new program more accurately illustrates my contribution to your knowledge of what's happening in retail right now.

<br /><br />Whereas Kohl's emphasized a 9 percent gain in earnings per share last quarter -- the result of share buybacks since net income fell 8 percent -- I will be adjusting for the number of stories I wrote for the paper, since their value to readers should be factored into the worth of this blog.
<br /><br />I will also begin projecting the quality of my next blog. This will provide a benchmark to aid its evaluation and avoid the shocks delivered by, say, Dillard's, which gives no such guidance. The company's fourth-quarter earnings came in at $2.77 a share, or as adjusted for the settlement of a lawsuit, $2.21. Only two analysts were brave enough to guess at Dillard's take, and they came up with $2 and $2.04 -- closer to the adjusted result than Wall Street has come in more than a year. My projections will provide more certainty surrounding future performance.

<br /><br />I will not be officially incorporating temperature variation into ABAR, but I will note, strenuously, that the warmer-than-usual weather might be disrupting my commute and routine in unknown ways. My competing bloggers also face such conditions, but I cannot be certain if their efforts were hindered or helped more or less than my own by all the nice days.
<br /><br />Taking all the above into account, this blog is at least 17 percent better than last week's blog -- ahead of internal projections for a 15 percent improvement. I am cautiously optimistic a robust improvement can be sustained for the foreseeable future.
<br /><br />All that's left to do is to band together with other bloggers so we, collectively, can convince our editors of the reasonableness of these adjustments. Then performance across the field may be measured once and for all with blinding accuracy and outrageous fairness. ]]>
    </content>
</entry>

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