Accessories retailer Coach today announced Gebhard Rainer as the new president and chief operating officer, a position which will be effective from September 29th.
Google has released its 2013 Google Zeitgeist, listing the most searched-for terms, people, places and moments throughout the calendar year. US leather goods brand Coach topped the list for most searched for fashion brand by UK Googlers this year, toppling Stella McCartney who was last year’s most searched-for fashion brand.
Lillian Cahn, the creator of the Coach handbag, has died at the age of 89. Having founded the Coach Leatherware Company in 1961, Lillian, along with her husband, Miles, were long associated with the American accessories retailer, creating a number of iconic handbags and tote shoppers for the label.
US retailers including Macy’s, Target and Urban Outfitters dragged stocks down lower on Wednesday at the re-opening of the US market. According to a report by the Guardian, The Dow Jones industrial average fell 49 points to 13,090 as of noon, while the Standard & Poor’s 500 index lost seven to 1,419.
Chinese police have made 73 arrests after confiscating more than 20,000 counterfeit bags in a crackdown on companies manufacturing fake products from international brands to be exported worldwide. Reuters cited state news agency Xinhua in a report that said the Chinese police had been working with US authorities to make the arrests, which also resulted in the closure of 37 illegal sites used for the production and sale of the bags.
Burberry now boasts Facebook’s highest post ‘like’ count for a fashion label, leaving heritage fashion house Christian Dior in second place.
Retail sales in China grew at a double digit pace over last week’s Lunar New Year holiday period, according to the country’s commerce ministry. Sales were up 16.2 per cent to CNY 470 billion (about USD 74.4 billion at current exchange rates) from the previous year’s holiday period.
Luxury eyewear maker Luxottica SpA on Wednesday announced fourth quarter sales grew 12 per cent on strong demand from emerging markets, as well as a rebound in Australia. The Italian group said net sales rose to EUR 1.51 billion in the last three months of the year from EUR 1.35 a year before.
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