Finance In Fashion - 12/06/2009

This week's finance-based fashion news:

Diane Von Furstenberg agreed to an

out-of-court settlement with designers who accused her studio of

improper copying.The designer, who also is president of

the Council of Fashion Designers of America and

supports the proposed federal Design Piracy Prohibition Act, will

pay Jennifer Halchuk and Richard Lyle of Mercy of Canada an

undisclosed sum.DVF also will stop using the copied jacket design

WWD, June 12, 2009.

The game of executive musical chairs at Versace SpA and Jil Sander AG finally ended this week as Gian

Giacomo Ferraris was named chief executive officer of Versace,

while Alessandro Cremonesi, chief financial officer at Jil Sander

AG, succeeded Ferraris as ceo there - WWD, June 10,

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Tommy Hilfiger is withstanding retail's

rocky waters, according to reports this week, as the brand reported

a 21 per cent rise in group sales thanks to double-digit growth in

Europe and North America and the integration of Hilfiger's Japanese

operations - WWD, June 4, 2009.

Patrizio Bertelli - the chief executive officer of Prada, and husband of Prada designer Miuccia -

asserted that he has no plans to sell a minority stake in the

Italian fashion group as long as key lenders remain committed to

funding the company."We have received various offers from potential

investors interested in taking a stake in the company, but there

are no talks under way to that end," a Prada spokesman said on

Thursday - WWD, June 12, 2009.

Online über-boutique NET-A-PORTER.COM announced a massive profitsincrease this week, despite the impact of the recession on manyretailers.The figures, which refer to the year's trading toJanuary 2009, declared turnover had grown by 47.8 per cent, whilstprofits had increased by a staggering 234 per cent - VOGUE.COM,June 11, 2009.Fashion sales at John Lewis bucked the retailer's overall trend,

rising 3.7 per cent for the week to June 6, it was reported today.

Overall, sales at John Lewis fell 2.9 per cent over the period.The

figure was an improvement on the previous week when sales were down

8.2% as warm weather impacted sales - Drapers, June 12,

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Department stores will lead the high street into full-blown

summer Sales next week, dealing a hammer blow to independent

retailers, which have seen sales fall back significantly in May.Selfridges, House of Fraser and Debenhams are

all planning to hoist the discount banners, with Selfridges

discounting a week earlier than last year on June 18 and Debenhams

marking down in line with last year on June 17.HoF's Sale is

expected to start on June 16 - Drapers, June 12,

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