Tom Ford Expands His Beauty Collection

Products from the Tom Ford Beauty collection

(Photo Credit: Thomas Iannaccone/WWD)

Tom Ford sets out to redefine the world of prestige beauty with the launch of his expanded color collection in September.
With five FIFI awards under his belt, total Tom Ford Beauty global retail sales estimated at $150 million, a strong debut of his lip color collection (retail sales of $6 million in just 100 stores!), plus a resurgence in consumers' appetite for luxury products, the time is right for Mr. Ford and Estée Lauder Cos. Inc. to expand.

Here are the deets for the beauty mavens:

• The color cosmetics collection will have 132 products, including six skin care products, ranging in price from $30 to $250
• The collection includes contouring products Shade and Illuminate cream duet, heavily pigmented lip glosses like Lost Cherry and caligraphy tip brow pens
• Skin care products include Traceless Foundation Stick, Illuminating Protective Primer, Purifying Crème Cleanser and Intensive Infusion Concentrate Extreme, which is an oil-based serum.
• The Private Blend Lip Color Collection includes 18 shades (up from 12) and will retail at $48
• Two new Private Blend Collection fragrances: Santal Blush and Jasmine Rouge priced from $195 to $475
• A new Signature Collection fragrance: Violet Blonde.

Keeping in line with Mr. Ford's exclusivity mantra, the new color line will only be in 35 doors worldwide, and sold in Tom Ford stores, Berdorf Goodman, and select Neiman Marcus and Saks Fifth Avenue stores in the U.S.. Overseas, Italy’s La Rinascente and the U.K.’s Harvey Nichols and Selfridges will carry the line. A rollout in Asia is planned within 18 months of its launch.

The lip color and new fragrances will have a slightly wider global distribution -- 100 and 225 doors respectively -- and will be sold in the aforementioned stores, as well as Nordstrom and Bloomingdales. In the U.S., Saks will get a four-week exclusive on Violet Blonde in August before the fragrance is rolled out to other stores.

Industry sources estimate the line to do $40 million in global retail sales the first year, and $400-$500 million globally in five years.

(SOURCE: Estée Lauder Puts Together a Prestige Brand - WWD)

Radha Chadha: Men Are Driving China's Luxury Goods Sales

(Source: Bloomberg.com)

In an interview with Bloomberg Television's Rishaad Salamat, author and brand consultant Radha Chadha discusses the emerging luxury market in China, and how men are the driving force behind it.

Coach 3Q Profit Soars 37%; Looks To Europe For Expansion

A return to their affordable luxury price points has paid off for Coach Inc., as increased demand in North America helped the company to a strong third quarter.

Earnings for the leather goods maker jumped 37% to $158 billion from $115 billion from the previous year, beating Wall Street estimates, according to Reuters. Sales for the quarter topped off at $831 million compared to $740 million in fiscal 2009, with E.P.S. totaling $0.50 compared to $0.36 a year ago. As a result, the company doubled its cash dividend to $0.60 per share annually, implemented a $1 billion stock repurchase program, and upped its China sales target by a year.

"Our growth demonstrates our ability to manage our business nimbly, while investing prudently for the future". says Lew Frankfort, Chairman and CEO of Coach Inc.

Part of that investing includes the company's expansion into Western Europe. Via an agreement with French department store group, Printemps, Coach will open at least 14 locations in Printemps stores throughout France over the next three years, the first being a 1700 sq.ft. shop in Paris this June.  

Coach also entered into an agreement in principle to create a joint venture with British retailer Hackett Limited to open Coach stores in the U.K., Spain, Portugal and Ireland. The first locations in the U.K. and Spain are expected to open in the next twelve months.

On Thursday, Coach will celebrate the grand opening of its brand new Shanghai flagship store. The flagship is located on tony Huai Hai Middle Road, which is enroute to becoming the Fifth Ave. of Shanghai, with luxury brands such as Cartier and Tiffany & Co. pitching a tent there.

Shares of Coach closed at $42.03 with a 15 cents gain.

(Disclosure: Haute Retail holds positions in Coach Inc.

 

Photo: Coach Flagship Store in Shaghai/WWD

HR Quarterly Round-Up: Richemont, Burberry and Coach, Inc.

(Photo: Pascal Lauener/Reuters)

 

Richemont Sales Bolster Revival Hopes (FT): Richemont, the world's second-biggest luxury goods group, yesterday reinforced signs of a recovery in demand for expensive watches, jewellery and accessories with Christmas sales well ahead of expectations.

Burberry sales rise stronger-than-forecast 15% (Market Watch): U.K. luxury goods retailer Burberry reported a 15% rise in sales for its fiscal third quarter, sailing past analyst estimates, and the company said it now expects pretax profit for the year will reach the top end of market expectations.

Coach Profit Rises 11% on Holiday Sales (WSJ): Coach Inc.'s fiscal second-quarter earnings rose 11%, with a boost from holiday sales that improved over 2008's weak holiday season. Results beat Wall Street's expectations.

PPR Falls in Paris on Missed Sales Estimates, Gucci’s Decline

PPR Falls in Paris on Missed Sales Estimates, Gucci’s Decline

By Ladka Bauerova

Oct. 21 (Bloomberg) -- PPR SA, the owner of the Gucci brand, fell the most since July in Paris trading after reporting revenue that missed analysts’ estimates, hurt by declining luxury-goods orders in the U.S. and western Europe.

Sales dropped 7.6 percent to 4.56 billion euros ($6.8 billion) from 4.94 billion euros a year earlier, Paris-based PPR said yesterday after stock markets closed, below the 4.63 billion-euro median estimate of three analysts surveyed by Bloomberg. At Gucci Group, which accounts for almost a fifth of revenue, the sales drop accelerated to 6.4 percent.

Chief Financial Officer Jean-Francois Palus blamed the shortfall on a “low point” in demand from third-party luxury retailers such as U.S. and western European department stores. Gucci’s figures were worse than those posted earlier this week by PPR’s largest rival, LVMH Moet Hennessy Louis Vuitton SA, whose Louis Vuitton brand posted growth on “exceptional” demand for its handbags in China.

“The market may have expected a positive surprise” for PPR after Vuitton’s figures, Citi analyst Thomas Chauvet said in a note this morning, calling the figures “a bit light.”

PPR shares fell as much as 6 percent, the most since July 2, and were down 3.49 euros, or 4.1 percent, to 81.68 euros at 10:38 a.m. in Paris. The stock has gained 75 percent this year, outperforming LVMH, which has risen 52 percent.

Gucci Group’s decline was paced by a 3.2 percent drop at the core Gucci brand. Excluding currency moves, Gucci brand stores open at least a year saw their sales decline 8 percent. Palus said a lull in tourism by rich shoppers, especially from Russia and the Middle East, hurt Gucci Group outlets in Monte Carlo, Cannes and Paris.

Analysts including Luca Solca of Sanford C. Bernstein said PPR sales may rebound in the fourth quarter, as wholesale customers are likely to replenish their inventories.

(SOURCE: Bloomberg.com)

Coach 1Q Profit Dips As Sales Rise; Beat Wall St. Analysts Estimates

Coach Inc.'s new pricing strategy is starting to look promising, as the luxury accessories company posted FY 1Q profits and sales that beat Wall St. estimates.

The company reported a fiscal first-quarter earnings drop of 3.4% to $141M, or  $0.44 per share, vs. $146M, or $0.44 per share in the previous year.

Sales for the quarter rose 1.2% to $761.4M from $753M in fiscal 1Q '08. 

Analysts surveyed by Thomas Reuters expected $0.39 per share, and sales of $753.8M.

Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc., attributed the recent decision to revamp Coach's pricing strategy, and the introduction of the Poppy line, to this quarter's better-than-expected results:

“We experienced sequential improvement in our North American retail business this quarter, as the initiatives put into place earlier this year proved successful. Specifically, Coach benefited from the well received launch of the Poppy collection and other products at particularly compelling prices.”

Analysts also noted that Coach increased usage of 20% off coupons for their outlets stores, which helped to drive demand.

Direct-to-consumer sales, which include their China business, rose 10% to $654M for the quarter vs. $592M for the previous year. Total sales in Japan, Coach's second largest market, declined 3%, minus exchange rate fluctuations. Comp. sales in North American fell 1.1%, an improvement from the 6.1% decline in the previous quarter. China continued to show strength with double-digit same-store sales growth.

Indirect consumer sales, which represents 15% of Coach's business, dropped 33% to $108M as a result of reduced shipments to U.S. department stores.

As a result of the rapid growth the company is experiencing in China, Mr. Frankfort said Coach plans to open their first Mainland China flagship store in Spring 2010 in Shanghai. To help manage their growth in China, they also plan to open an Asian distribution center in Shanghai.

The company announced plans to open their first stand-alone men's store in NYC this Spring.

Despite beating analysts expectations, investors were apprehensive about the company's expansion, causing the stock to slip 2.8% during midday trading.

"Expectations for Coach have risen pretty noticeably, so anything that detracts from that basis is going to be viewed as a negative," said Wall Street Strategies analyst Brian Sozzi. (SOURCE: Reuters.com)

However, analysts remain upbeat:

"They're very well positioned to have a strong holiday," Needham & Co analyst Christine Chen said. "They should be able to return back to positive same-store sales ... because the product seems to be gaining traction with consumers." (SOURCE: Reuters.com)

For the holiday season, Coach plans to implement the same marketing strategy used to introduce Poppy, concentrating more on email campaigns, online ads, fashion blogs and social networking sites, like Facebook.
The company also plans to launch several new items including new accessory groups, Waverly and Gramercy, a new tote group, Alex and new Poppy items under $100.

Coach shares were down 3.2% to close at $33.41.

Disclosure: Haute Retail holds positions in Coach, Inc.

LVMH Beats Estimates on Vuitton, Says Cognac Sales Picking Up

LVMH Beats Estimates on Vuitton, Says Cognac Sales Picking Up

By Ladka Bauerova

Oct. 19 (Bloomberg) -- LVMH Moet Hennessy Louis Vuitton SA, the largest luxury-goods maker, reported third-quarter revenue that beat analysts’ estimates after “exceptional” demand for Vuitton bags in China, and said cognac demand is improving.

Sales slipped to 4.14 billion euros ($6.2 billion) from 4.16 billion euros a year earlier, the Paris-based company said today after markets closed. That surpassed the 4.07 billion-euro median estimate of five analysts surveyed by Bloomberg News.

Sales of Louis Vuitton apparel and accessories posted “double-digit” growth, LVMH said. Demand for cognac “significantly” improved as wholesalers in the U.S. began to replenish their inventories during the quarter, the company said, echoing the outlook from smaller liquor rival Remy Cointreau SA released last week.

“I can’t say the crisis is over yet, but we are beginning to see some light at the end of the tunnel,” Chief Financial Officer Jean-Jacques Guiony said during a conference call. “Louis Vuitton’s performance in China was exceptional.”

LVMH shares rose 2.45 euros, or 3.4 percent, to 74.90 euros in Paris trading today, the highest in more than a year. They have rallied 57 percent in 2009 after tumbling 42 percent last year, when Lehman Brothers Holdings Inc.’s bankruptcy spooked luxury-goods buyers.

Revenue at the company’s fashion and leather goods division gained 5.3 percent, fueled by Vuitton sales. Wholesale sales of other LVMH fashion brands including DKNY and Fendi had a “double-digit” decline in the third quarter, though they improved in September, Guiony said.

Revenue at LVMH’s wines and spirits division, which makes Veuve Clicquot champagne and Hennessy cognac, fell 8.6 percent in the quarter as drinkers in the U.S. and Russia cut back. Unlike cognac, the champagne market “remains difficult” as some consumers switch from LVMH’s expensive vintages to cheaper brands, Guiony said.

Watch and jewelry sales, which make up about 5 percent of total revenue, dropped 22 percent, while perfumes and cosmetics slid 4.6 percent. The retail unit, which includes the Sephora cosmetics chain and Duty Free Shops, climbed 2.5 percent.

(SOURCE: Bloomberg.com)

Neiman Marcus’ Q4 Loss Deepens

Neiman Marcus’ Q4 loss deepens

Atlanta Business Chronicle
Wednesday, September 9, 2009, 10:59am EDT

Upscale retailer Neiman Marcus on Tuesday reported a fourth-quarter net loss that has deepened over the 2008 fiscal year.

Dallas-based Neiman’s posted a fourth-quarter loss of $168.5 million, which is deeper than the $35.6 million loss reported during the same period last year. During the same period, overall sales at Neiman’s hit $768 million, down from $1.03 billion. The quarter included the recording of a $143.1 million pretax impairment charge.

Meanwhile, Neiman’s same-store sales fell 23.4 percent in the fourth quarter.

For the fiscal year, the company reported a net operating loss of $668 million, down from a profit of $142. 8 million. Sales for the year fell from $4.6 billion in 2008 to $3.64 billion this year.

Chairman and CEO Burton Tansky added that the company “tightly managed its expenses,” eliminated $100 million in costs and ended the year with 23 percent less merchandise due to better inventory management.

"Fiscal year 2009 was a very challenging year fo rour company. We quickly began addressing the many challenges we faced due to a sharp decline in our business, precipitated by the downturn in the economy," Tansky said.

(SOURCE: Atlanta Business Chronicle)

Escada Files For Bankruptcy

Escada Files for Court Protection in Germany
By THE ASSOCIATED PRESS
August 14, 2009

FRANKFURT (AP) — The German fashion company Escada has filed for bankruptcy after being unable to obtain financing, a Munich district court said Thursday.

The filing was expected after the company, famous for women’s fashion and accessories, failed to get the necessary support for an earlier bond swap.

Escada was once one of the biggest fashion brands in the world, but its popularity, sales and earnings have declined.

The company said a number of restructuring measures had been contingent on the bond swap working, but it did not get enough support from the bondholders.

For example, a plan to raise 30 million euros, or $42 million, through the company’s bigger investors had been contingent on the bond exchange going through, as was a credit extension of more than 13 million euros. A successful swap would have also given the company some immediate liquidity to help it eliminate some of its debt.

The company said earlier this week that the situation was “regrettable,” but that it still hoped for a turnaround in its finances and business.

The company had sales of 528 million euros in fiscal year 2008, but reported a net loss of 70 million euros. In the first half of the fiscal year ending in April, it lost 92 million euros.

Escada operates 182 of its own shops and 225 franchise shops in more than 60 countries, employing about 2,300, 600 of those in Germany.

(SOURCE: NYTimes.com)

Coach Profit Drops 32% For The Quarter

Like the majority of the luxury sector, Coach Inc. felt the effects of consumers' continued preference for necessities over discretionary purchases.

The company reported fourth quarter earnings fell 32% to $146M, or $0.45 per share, vs. $214M, or $0.61 per share in the fiscal fourth quarter of 2008. Income for the fiscal year 2009 was $623M, a 20% drop from earnings of $783M for fiscal year 2008. Earnings per share were $1.91 vs. $2.17.

Excluding one-time items, earnings per share were $0.43, meeting analysts expectations according to Thomas Reuters.

Fourth quarter sales dropped less than 1% to $778M from $782M in the previous year. Total Sales for the year were up 2% to $3.23B. Coach retail store sales, which account for 85% of its business, were up 3%. The biggest sales decline was in Coach's North American stores, where retail comp. sales slid 6.1% for the quarter and 6.8% for the year. Department store sales dropped 21% for the quarter and 19% for the year.

In response to sales declines, the company has increased their offering of handbags in the $200-$300 range to 50%. In an interview with The Wall Street Journal, Coach, Inc. Chairman and CEO, Lew Frankfort said the following:

"We want to be in that sweet spot where we believe the market will settle," Mr. Frankfort said. "It's our intention for the indefinite future to maintain pricing at [these] levels."

The new pricing strategy seems to be working. In a conference call, Mr. Frankfort said that the percentage of handbag sales in its North American stores has increased to 55% compared to 50% a year ago. The introduction of the new Poppy line, which has an average handbag price of $260, has improved retail sales for the month of July. The line, which is marketed towards Coach's younger consumer, is selling at a rate two to three times that of other collections.

Coach, Inc.'s Chief Financial Officer, Mike Devine said that fiscal 2010 will be an "investment year" for the company, with plans to open 20 retail stores and 6 outlets in North America, 10 stores in Japan and 15 new locations in China, where sales have been strong.

Included in the expansion is the creation of the Reed Krakoff label. Last month, Haute Retail mentioned that this new brand, revolving around Coach's creative director, was in the pipeline. The label will be a "global brand" separate from Coach that will include women's ready-to-wear, accessories, handbags, footwear and jewelry. "We believe that this concept will serve to define the new American luxury and engage a different customer who is looking for exclusivity and limited distribution", Mr. Frankfort said of the new label.

The Reed Krakoff label will debut in Fall 2010, with a limited number of stores in the U.S., Japan and Hong Kong.

Reuters reports that shares fell 7.2% due to investor worry about Coach's increased expansion of the brand.

"With increased investment spending in China, sales volatility here at home, lower-price points within the overall assortment and increased factory channel sales mix, it appears returns will take a hit," says Wall Street Strategies analyst Brian Sozzi. "The gross margin really missed consensus by a wide margin." (Source: Reuters)

But some analysts think the market overreacted.

Needham & CO analyst Christine Chen said she thought the market was reacting to the worse same-store sales number, but they were looking at the wrong thing. "They said July trends have improved due to Poppy," she said. "Investors should be a little more forward-looking." (Source: Reuters)

Coach shares dropped $0.38 to $28.05 at the close of the market.

Disclosure: Haute Retail has positions in Coach, Inc.

Coach's Creative Director To Launch His Own Brand?

Since joining Coach, Inc. in 1996, Reed Krakoff, president and executive creative director of the company, has worked behind the scenes to make the Coach brand a household name and one of the top companies in luxury retail. Now, Mr. Krakoff is going to get a chance to take center stage.

Fashion Week Daily reports that Coach is in the process of developing a brand around Mr. Krakoff.

Details are sparse, however we do know that the company registered "Reed", "Reed Krakoff" and "RK", and two design logos with the U.S. Patent and Trademark office in March and February of this year. According to the filing, the products and services that may be used under the trademarks vary, ranging from ready-to-wear to jewelry to personal care products, even pet care products and hotels.

Coach has declined to comment on this new venture, only stating that they're always developing new products.

Christian LaCroix Files For Bankruptcy

Christian Lacroix, one of the biggest names in Parisian haute couture, is the latest victim of the slumping global ecomony. The company has announced that it has filed for protection from creditors, the equivalent of Chapter 11 bankruptcy protection.

The filing comes after the failed attempt of Falic Group, the U.S. based duty-free company that owns Lacroix, to sell the company. Lacroix's Chief Executive, Nicolas Topiol is blaming the lack of interested parties on the financial crisis.

This particular quote stood out to me:

In an attempt to boost revenue, Falic Group has tried to play up Lacroix's reputation for haute couture -- the highest-end of the fashion scale. This long-term strategy was "dramatically hindered by the current and ongoing world financial and economic crisis," the company said in a statement.

In this particular case, Lacroix can't solely blame it on the e-e-e-e-economy this time. Fashion houses cannot live on haute couture alone. It's very expensive to make and very few people in the world can afford to purchase it, therefore couturiers don't sell enough to offset costs and make a profit. Instead, they rely on licensing aspirational, affordable luxury merchandise such as ready-to-wear clothing, fragrances and accessories. This is why luxury conglomerates like Lacroix's former owner, Moet Hennessy Louis Vuitton (LVMH) and The Gucci Group have been able to thrive, posting sales increases of 11% and 5% respectively.

Unfortunately for Lacroix, the interest has never been there for the brand as they have yet to turn a profit in its 22 year existence. Sure, the fashion house received critical acclaim, but the public never embraced Lacroix aesthetic.

Paris Couture Week is five weeks away, so will Christian Lacroix make a showing? Mr. Topiol tells WWD that there may be a more scaled-back presentation.

(Photo: Dominique Maitre/WWD.com)

A Sparkle of Light in March Same-Store Sales Reports

The apparel retail sector has reason to be a little hopeful today. Although retail same-store sales dropped in March, the declines were less than expected signaling an upturn in consumer confidence.

Reuters reports that more than half of the retailers that posted March sales, topped Wall Street estimates. Thomas Reuters' same-store sales index reports overall sales were down 1.8%, thanks to lower-than-expected sales growth from Wal-Mart. However, sans Wal-Mart's figures, sales fell 5%, slightly beating the 5.2% decline analysts predicted.

"The numbers are still soft, but given the deluge of negative news we have seen in the retail space over the last several months, it's got to be somewhat encouraging," said Ken Perkins, president of Retail Metrics Inc. "It looks like there is a little bit of an uptick, some pent-up demand ... for some discretionary spending." (Source: Reuters)

Investors responded to the encouraging news, pushing the Standard & Poor Retail Index up 4.6%.

The Easter shift from March to April negatively affected March sales results:

"The overall tone for March was actually stronger than the reported sales performance," said Michael P. Niemira, ICSC chief economist and director of research. "Sales performance was dampened due to several factors, two of which were calendar related; the first being a calendar-month shift that caused there to be one less Saturday in March compared with last year and the second being that Easter falls three weeks later this year, on April 12, as opposed to March 23 last year," said Niemira. "These shifts created an unfavorable month-over-month comparison with March of 2008. If we adjust for the calendar shifts sales for March were stronger than reported, in fact, up about 1 percent," Niemira added. (Source: ICSC)

Abercrombie & Fitch was the biggest loser with March same-store sales falling 34%, due to the company's continued resistance to discounting their merchandise in order to protect their brand's image. Comp. sales were weakest in week 3 and and stronger in weeks 4 and 5 reflecting the Easter shift. Weeks 4 and 5 were positively impacted by Spring clearance event. Across all brands, jeans, fragrance and fleece were the strongest categories. Comparable sales were down across all U.S. regions and Canada.

Macy's Inc. reported a 9.2% declined in same-store sales for the month of March, slightly beating Wall St. predictions of a 9.3% decline. Online sales (which include macys.com and bloomingdales.com and are included in same-store sales results) had another good month with a sales increase of 17.9% in March and 17.1% year-to-date. All figures were in line with management's expectations. Due to the Easter holiday falling in April instead of March, the company advises that the March-April period should be viewed together.

Limited Brands, Inc. reported March same-store sales decreased 9%, beating the company's expectations of a "low double digit decline" as well as analysts' estimates of a 12% decrease. The company projects mid-single digit same-store sales declines for April.

However, the struggle continues for the luxury sector.

Neiman Marcus was the worst performer in the sector, reporting same-store sales drop of 29.9% for March. The company said it experienced weakness across all regions and merchandise categories.

March Same-store sales fell 23.6% for Saks Fifth Avenue, missing Wall St. estimates of a 20.3% decline. The luxury chain experienced weakness across all merchandise categories, while Saks Direct and OFF 5TH showed strength.

Nordstrom beat analysts' estimates of a 16% decline, posting a same-store sales drop of 13.5% in March. The company reports that while the Nordstrom Rewards triple point event for Nordstrom cardholders had a favorable affect on sales, the positive results were offset by the shift in the Easter holiday from March to April. Rob Campbell, treasurer and vice-president of investor relations, said that cosmetics and junior women apparel were their strongest categories.

Wall Street Journal Shuts Down Retail & Luxury Bureau

As the economy continues to hit the fashion industry, the latest victims are well-regarded fashion journalists.

Yesterday, The Wall Street Journal announced that it will close its Retail & Luxury bureau, and reduce its full-time staff from nine people to five. Columnist Christina Binkley and the group's editor, Lisa Bannon will stay on. Sources have told Forbes.com that the renown fashion journalist, Teri Agins, who has been with the Journal for 23 years, is out while other staffers have been asked to apply for the remaining three positions per union rules. No definitive word on whether or not the Journal's fashion blog, Heard On The Runway, will remain.

Forbes.com reports:

"For the last three years, the Journal has been building up its retail and luxury coverage group and trying to court that advertising," said one senior Journal writer who is close to the group. "But maybe now they feel that for the next year or 18 months, luxury advertising won't come through--and besides there's the new WSJ. magazine, which is courting the same advertising territory."

This could not have come at a more inopportune time. New York Fashion Week starts next week, with the London, Paris and Milan Fall '09 shows following on its heels. Who's going to cover the shows? With a staff of FIVE that's going to be impossible.

I'm not buying the excuse of the lack of luxury advertising. Yes, the luxury sector is going through a slump right now, but it's also the first sector in the retail industry to bounce back. Besides, luxury is on the verge of reinventing itself (which, ironically, was covered in an article by Ms. Agins in last week's Journal), and that metamorphosis needs to be covered thoroughly, and quite frankly, the WSJ. magazine is not the vehicle for that. If anything should have been eliminated, it's the WSJ. magazine which has not lived up to its supposed purpose, in my opinion. The Robb Report it is not.

Welcome!

Hello and Welcome!

Like any fashionista, I LOVE talking about fashion and beauty: the latest "It" bag, the hottest up and coming designers, the new must-have lip gloss.....etc.

However, I'm also interested in the business side of the industry, so I decided to create Haute Retail, a blog that waxes financial on the fashion and beauty world.

At Haute Retail, we'll discuss the business trends and financial aspects of the industry, as well as learn about the movers and shakers that help shape the beauty and fashion biz.

Enjoy!