Weekly Shop Report
Last week it was good to be retail, but it was even better to be Michael Kors.0
Woot. Woot. Retail hit a 52 week high (Isn’t that a year?) Monday with Revlon, Abercrombie, Talbots and Jones in the top ten and FCUK, Cache, Wet Seal, Pacific Sunwear, Bon Ton and Crocs still seeing red. But there is always room for improvement, and in anticipation of snail-style consumer spending rebound, apparel manufacturers have been looking to suppliers to provide greater value and efficiency. Many retailers have suspended plans for expansion and are looking to renovate existing stores and focus efforts to build sales there.
But in the land of Michael Kors, its all recession wha? Last week, Kors opened a flagship store on Chicago’s fashion-focused Michigan Avenue and is expected to expand his fifty lifestyle stores to two-hundred worldwide. He’s on fire and overtly thanks fashion forward 14 and 15-year-olds, claiming they will save retail. Um, not in this recession, Michael. Someone needs to inform Kors the prodigal fashion children maintain their sig styles with daddy’s credit card.
If you are craving thongs and heaps of tourists this weekend, visit Victoria Secret’s new Soho flagship. Renovating the previous location (Prince and Houston) and acquiring Eastern Mountain Sports former space, Vikki’s downtown is 24,000 square feet of panty pleasure…if you’re a tourist. Otherwise, it is hell.
And again this week, Forever 21 is being sued for copyright infringement. This time Express argues Forever 21 stole four of their signature plaid patterns. Because when you see plaid, you think “Express.” But whatever, they will likely settle out of court, and Forever 21 will resume stealing the designs because that is how they stay the perennial leader in cheap chic fashion.
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