Luxury triumphs at the Oscars

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					                                          Numbers, Facts and Leaders of Fashion and Luxury

                                         INTERNATI O NAL EDITION
                                        Issue        #8       -      April          2008

                                        Luxury triumphs at the Oscars
Enclosed to issue #8 of Pambiancoweek

                                                             ALTANA:                     FERRARI:   ALTAGAMMA:
                                                             FROM                        AN         LUXURY SECTOR
                                                             DREAM                       HISTORIC   CONTINUE
                                                             TO REALITY                  YEAR       TO GROW

                                                     offers female clientele a dream                   (Il Sole 24               7
3 Altana: from dream to reality - creating a         16 Skagen Designs, the Danish
successful childrenswear company                     phenomenon
                                                     16 Profits for St Dupont
                                                     17 Bentley follows sales success with
7 Ferrari: an historic year, excellent end-of-year   record profitability
results (Corriere della Sera)                        17 Pierre Hardy: from dancer to luxury
7 Bulgari exceesds €1 billion in 2007 8              footwear wizard                                                             8
Bulgari 2007 revenue €1.093 million
                                                     M&A - LICENCES
8 Valli: Paris and New York encourage
young talent (Il Sole 24 Ore)                        18 Liz Claiborne sells Ellen Tracy
8 Versace: 2007 revenue exceeds 310                  18 Palmers Textil acquires Lejaby lingerie
million                                              18 Tommy Hilfiger to bring shoe license
8 Bottega Veneta posts record 2007 results           in-house
(Il Sole 24 Ore)                                     18 Ferrè names Canepa as underwear &
9 Safilo: 2007 sales grow by 6%                      beach licensee
9 Benetton: €2 billion in 2007                       19 Fratini brothers to sell Tie Rack
9 It Holding declares growth of 32% in               19 Costantine (and his
2007                                                 wife) take controò of Lush
10 Geox: revenue exceeds €770 million                MANAGERS
10 Luxury must also think about the
environment                                          20 Maurizio Roman is the new Ceo for
10 From Ferrè to Cavalli stores in Istanbul          Ferretti Yachts                                                            14
(Il Sole 24 Ore)                                     20 Luigi Battuello is the new Regional
11 Altagamma Conference: Luxury                      Director of South Europe
sector continue to grow despite economic             20 Escada appoints Claus Mingers as
slowdown                                             Chairman
                                                     21 Hans Fluri is the new Ceo of Hugo
13 Revlon swings to a profit after 2 years           21 Uil Becker is the new Ceo of Reebok
(Finanza&Mercati)                                    21 Marks & Spencer: Rose becomes                                           18
13 Adidas: quarterly net profit rose by              Executive Chairman (Finanza&Mercati)
                                                     SHOP OPENINGS
13 Saks e Neiman Marcus: profits up
14 Bergdorf Goodman rated the retailer               22 Roger Vivier celebrates the opening of
that offers the best customer experience             its first Italian boutique (Il Sole 24 Ore)
14 Abu Dhabi: new fashion capital                    22 Givenchy opens its third store in Paris
14 Alexander McQueen announces                       23 Harry Winston opens in Hong Kong
profitability                                        23 New Valentino boutique opens in                                         20
15 Puma, fourth quarter totalling €504.5             Mexico City
                                                     ADS & EVENTS
15 Nike out to woo the ladies (Il Sole 24
Ore)                                                 24 Luxury triumphs at the Oscars
15 Levi Strauss & Co.: 4,4 billion in 2007           24 Philip Watch hits the court with
16 Mauboussin, lowers its prices and                 McEnroe new video ad

                                                     Enclosed to issue #5/IV of Pambiancoweek
                                                     Milan Court Register no. 344 of 2/05/2005
                         Top Stories:                Editor in Chief: David Pambianco
                                                     Editorial Staff: Chiara Dainese, Paola Cassola, Claudia Cogliandolo, Rossana Cuoccio
                         Luxury triumphs
                                                     Contributors: Alessio Candi, Mai Esteve
                         at the Oscars               Advertising: Lia Lasagna , Maureen Punzina
                                                     Subscriptions: Alessia Cappelletti
                         Below:                      Editor of the magazine: Pambianco Strategie di Impresa S.r.l., Corso Matteotti n. 11, Milano
                         Marina Salamon e Barbara    Contacts:
                         Donadon,                    Editorial Staff: -+39 02-76388686
                                                     Advertising: - +39 02.76388600
                         Luca Cordero di
                                                     Subscriptions: - +39 02.76388600
                         Leonardo Ferragamo
Exclusive Interview

     Marina Salamon e Barbara Donadon


Altana: from dream
to reality - creating a
successful childrenswear
   How much of Marina Salamon is there in Altana?               What kind of relationship do you have with Barba-
A tremendous amount. It has been a dream come true.          ra?
I created Altana and have managed the company for            We have worked together for the last 18 years and we
the past 20 years. I then realised that I could not go it    know each other pretty well. At the end of the 90’s,
alone any more for many reasons. I realised that I had       Barbara came to work for me straight from University
to change the whole way it was being run and I dele-         (she got a degree in Economics). In time, she became
gated a lot of the business to a manager, which in this      more and more involved in sales and the marketing
case, was Barbara Donadon.                                   side of the business and in 2001 I made her general

                                                April 2008
Images of the Company’s interior

manager of the company. I gave her total freedom. To-          An excellent performance…What’s the secret to Al-
gether we discuss the company’s strategies and budget       tana’s success?
but apart from that she does exactly what she wants         As I mentioned before, it is important to create a so-
- as if the company were hers.                              lid team and an excellent synergy between the com-
Thanks to Barbara the company has become more               pany, the stores and the clients. The top priority is to
structured yet flexible at the same time. She has made      produce an easy product that is familiar to the client
very important investment decisions in communica-           and satisfies both shop assistant and end client. For
tion between the various company divisions, recrui-         this to happen we have created an excellent custo-
ting managers for the more senior positions (men, to        mer service, we have invested large amounts of money
even it out a bit) and IT support. Barbara has always       in product and management software and we have
emphasised the importance of building a solid team          made sure that every Italian and foreign production
especially as markets are continually evolving. Pro-        facility uses it effectively. We have also increased the
ducts need to be continually updated, as well as the        production capacity of our plants. Currently there are
product’s image and customer service needs to be refi-      over 120 people working for us and a few thousand
ned. The client has become more demanding and only          are involved in the production process, both in Italy
a solid team can manage all these things effectively.       and abroad. We have over 2,000 clients worldwide.
No one comes to work hoping to go home as soon as           We are also successful thanks to our product research
the day is over. That kind of person would not last long    and the creativity of the collections. We have about
here! I hope that the company continues to grow and         30 people working on the style and collections of our
get stronger and stronger. I need a team that is enthu-     lines (around 1000 models are made every season).
siastic and energetic, just like me…
                                                              Altana has a license agreement and produces and
  Let’s talk about figures?                                 distributes Jeckerson, Liu-Jo, Moncler, Pinko, Trudi
In 2006 the company registered revenue exceeding 36         and has a joint venture with Dimensione Danza. Are
million euro, 10 million of which, derived from J.V.        you thinking of expanding?
Sinv Kids and we produced around 1.5 million pie-           Yes, we’re thinking about it. We have a few new
ces. In 2007 we predict revenue totalling around 49         projects in mind, however, each project is unique. We
million euro, 11 million of which, should derive from       create collections that provide a total look and we use
Sinv Kids. That makes 60 million euro in total.             brands that are either ours or that are licensed to us,

    Samples of the Moncler collection
                                               April 2008
    From left to right: The Spring/Summer 2008 collection of the brands, Pinko, Jeckerson and Dimensione Danza

brands that complement each other and satisfy the de-            in the adult and children’s clothing sector.
mands of the client. The client needs more products
that spark emotion and brands that are already fami-                Let’s talk about the market, how’s the children’s
liar to the mature client.                                       sector doing?
                                                                 The market, especially in Italy, is rewarding companies
  “So you are ready to become something big?                     that have a strong brand identity and image, that have
The fact that we have abandoned the family-run type              worked constantly throughout the years, that produ-
of business for a more competitive, managerially struc-          ce good quality products and have mid-to-high-end
tured company has differentiated us from our Italian             clientele.
competitors. We are a sound market-oriented com-
pany, we are seen as a very serious and solid business              How important is it for a company to predict new
in terms of quality and service. We deliver our pro-             trends?
ducts on time and we are financially solid. We belie-            The time frame for designing a new collection and the
ve it is the right moment to expand and take on new              product’s lifespan is always less and less as today’s ideas
challenges – consolidate and increase brand awareness,           become yesterday’s news. The consumer is constantly
create new licensing agreements or partnerships both             demanding new products and we have to satisfy them.

 From left to right: The Spring/Summer 2008 collection of the brands, Trudi Kidswear, Amore and Liu-Jo Baby

                                                    April 2008
   A curiosity, where does the name Altana come            include Fiat, Vodafone, Tim, Enel etc. Alchimia is a
from?                                                      holding company with its own investments and is
Altana is the name we use to describe the wooden           the second stakeholder of Ifis Banca (controlled by
terraces in Venice. It was my place of refuge while I      Sebastien Furstenberg). It is a public company which
was studying at Uni.                                       specialises in factoring. New projects include Arendi
                                                           Spa that I have set up with Emma Marcegaglia. We
   You also own a holding company called Alchimia.         are producing photovoltaic energy, using experimen-
What are your objectives for this year?                    tal technology. The experience working with Barbara
Today, Alchimia is a very important financial holding      has made me realise that it is possible for managers
and I have total control of the company. It is rated       to become entrepreneurs who want to participate in
by Mediobanca as one of the top 220 holding com-           the destiny of the company and talk with sharehol-
panies in Italy. Over the years the company has con-       ders about company objectives. Alchimia is a com-
tinued to strengthen its assets through the capitalisa-    pany that offers financial support, we have a sound
tion of earnings of its subsidiaries, while continuing     financial credibility and an important network and
to support their growth. Alchimia also controls Doxa       we want to focus on long-term investments as oppo-
Spa and Methodos Spa, which are 2 of the most im-          sed to short-term investments that are so typical of
portant Italian financial services companies. Clients      investment funds.


                                                                              ALSO AT WWW.PAMBIANCONEWS.COM

                                              April 2008

Ferrari: an historic year: excellent end-of-year results
                                         Formula 1 Drivers’ and Constructors’   in which around 30% of our sales are
                                         World Championship, and we also        made. A total of 6,465 road cars were
                                         launched the extraordinary 430         delivered to end clients compared to
                                         Scuderia car”, said Luca Cordero di    5,671 in 2006, while the company
                                         Montezemolo, President of Ferrari,     recorded a positive net financial posi-
                                         summing up 2007 after a meet-          tion of €299 million, a significant
                                         ing with the board of directors. The   improvement on the 2006 figure of
                                         company closed 2007 with revenue       €213 million (+40%). (Excerpt taken
                                         that increased from €1,447 million     from Corriere della Sera, 13/02/08. Edited
                                         recorded in 2006 to €1,668 (a jump     by PW)
                                         of 15.3%). Ferrari’s
                                         registered a trading
                                         profit of €266 million,
                                         which represents a
                                         massive 45.4% increase
                                         compared to the previ-
                                         ous year. The return on
Luca Cordero di Montezemolo              sales rose from 12.6%
                                         to 16%. This major
“2007 was a historic year for Ferrari:   increase comes despite
we celebrated Ferrari’s 60th anniver-    the fall in the value of
sary after a fantastic victory in the    the dollar, a currency

                     Bulgari exceeds €1 billion in 2007
  Bulgari’s 2007 consolidated revenue reached                 ness in all product
  €1,091.0 million, compared to €1,009.7 million in           categories, as well
  the same period of the previous year (+13.6% at             as follow an astute
  comparable exchange rates, and +8.2% at current             investment policy
  rates). The group closed 2007 with excellent sales          g e a r e d t o wa r d
  results: jewellery grew by 20%, perfumes by 15.4%,          strengthening all
  timepieces by 8.2% and accessories by 1.2%.                 retail and corpo-
  All world markets have seen excellent sales per-            rate projects”.
  formance: the United States (+21%), Asia (+14.8%),          At the heart of
  and Europe (+10.2%).                                        these develop-
  In 2007, sales generated from directly managed              ments Bulgari
  stores were far superior than sales generated from          Group plan to
  third-party distributors. Bulgari group closed the fis-     open a new flag-
  cal year ended December 31, 2007 with 245 stores            ship store in Paris
  (+17 compared to December 31, 2006), of which               on Avenue George
  149 were directly owned (+16).                              V, strengthen its
  2007 net profits were up by 12.4% and reached               presence in Asia,
  €150.9 million compared to €134.3 million in the            strengthen the Francesco Trapani
  same period the previous year and represented               accessories division and work on the worldwide
  13.8% of the group’s total revenue (13.3% in 2006).         launch of its skincare line.
  “I’m very satisfied with these excellent results,           In 2008, Bulgari Group forecasts an additional
  which were better than we expected in all prod-             increase in net and operating profits expected to
  uct categories and geographic areas” commented              increase by 8% to 12%.
  Francesco Trapani, CEO of Bulgari group. “In 2008           The group also expects to strengthen their position
  we want to for Bulgari continue expanding our busi-         in the global luxury goods market.

                                                 April 2008

Valli: Paris and New York                                                             Versace: 2007
encourage young talent                                                              revenue exceeds
                                                                                       310 million
                                             At the end of June
                                             Giambattista Valli
                                             was a possible suc-
                                             cessor to Gianfranco
                                             Ferré, and in July,
                                             to Valentino. Valli,
                                             however, prefers to
                                             work on his own
                                             creations: his prêt-a-
                                             porter brand, which
                                             was showcased on
                                             the Paris catwalk
                                             on 28th February,
                                             and Gamme Rouge,
                                             the luxury Moncler
                                             collection, which
Giambattista Valli                           Giambattista has                                          Donatella Santo Versace
been working on since last January. “It is a privilege to
work for my own brand”, says Giambattista Valli. “I am                       Versace group announced earnings for the full
glad it is going well. We have grown 50% since the first                     year 2007. The Group registered consolidated
collection was presented 3 years ago. Today the brand is                     revenue totalling €310.6 million and a 7.8%
sold in more than 220 stores worldwide. “My private life                     sales increase compared to 2006. The increase
is in Milan, but I prefer to work in France. In Italy design-                is significant considering 5 boutiques in the first
ers are not seen in a very good light, they are seen as peo-                 quarter of 2007 were closed for renovation. For
ple who don’t have a proper job. The Americans, on the                       the year ended 31 December 2007, the com-
other hand, appreciate young people much more. In the                        pany posted an active net financial position of €
US people really value talented individuals” concluded                       4.4 million.
Valli. (Excerpt taken from Il Sole 24 Ore, 19/02/08. Edited by PW)

                     Bottega Veneta posts record 2007 results
                                                 reaching €366 million, while oper-           people were patting me on the
                                                 ating profits soared 87% (at com-            back and wishing me good luck”.
                                                 parable rates) reaching €92 million.         The outlook for 2008 is positive,
                                                 The CEO of the company, Patrizio             despite the looming threat of
                                                 Di Marco, 46, was obviously satis-           recession in the US and substantial
                                                 fied with the results: “With oper-           stagnation of the Japanese market.
                                                 ating profits representing 25.2%             “For us Europe is the most impor-
                                                 of the company’s total revenue,              tant market”, concluded Di Marco.
                                                 compared to 20.5% in 2006, we’ve             “It represents 33.4% of total sales.
                                                 now become part of an exclusive              The second most important mar-
                                                 group of luxury companies that               ket is Japan, where we continue
                                                 constitute the benchmark for the             to expand. Sales are up 30.3%,
                                                 sector: brands like Louis Vuitton,           Asia/Pacific is up 18.8%, and
    Patrizio Di Marco                            Gucci and Hermès, all very tradi-            America recorded a 17.3% sales
    Bottega Veneta, the luxury brand             tional companies. Bottega Veneta             growth. We are utterly convinced
    owned by Gucci Group posted                  was founded in 1966. When the                that this year will go smoothly and
    record annual revenue and profit             Gucci Group acquired it in 2001,             we expect to open another dozen
    growth. In 2007 the group’s rev-             Bottega Veneta’s revenue totalled            stores, bringing the total number
    enue registered an increase of 49%           €35 million and the company                  to 123.” (Excerpt taken from Il Sole 24
    (at comparable exchange rates)               showed a huge deficit. A lot of              Ore, 2/03/08. Edited by PW)

                                                        April 2008

Safilo: 2007 sales grow by 6%
                                  In 2007 Safilo
                                                                       Benetton: €2 billion in 2007
                                  Group’s net sales reg-
                                  istered an increase of              The board of
                                  6.1% (+10.2% at par-                directors of
                                  ity exchange rates)                 Benetton Group
                                  reaching €1.190 mil-                announced finan-
                                  lion compared to                    cial results for the
                                  €1.122 million in the               fiscal year 2007.
                                  same period of the                  The company
                                  previous year. In the               registered con-
                                  fourth quarter turn-                solidated revenue
                                  over grew by 2.9%                   growth of 9.1%
                                  (+7.9% at constant                  to €2.085 mil-
                                  exchange rates). All                lion in 2007 and
                                  world markets have                  €1.911 in 2006.
                                  seen increases in                   The group also
Vittorio Tabacchi                  sales during the fis-              posted excellent
                                   cal year, with signifi-            operating results
cant results achieved in Asia (+ 15.7% and+24.1% at                   totalling €243 Alessandro Benetton
constant rates for the financial year). Europe (includ-               million and a sales increase exceeding 35%. Net
ing Italy) registered a growth in sales and closed 2007               profits totalled €145 million (+16.3%). Ebitda
with an increase of 9.5%, powered by markets such                     totalled €337 million (+27.6%) compared to
as France, Germany, and Eastern Europe, followed by                   2006) with a 16.2% impact on revenues com-
England and Italy (+ 2.3% compared to the previous                    pared to 13.8% the previous year.
year). At constant exchange rates, the US recorded a                  In 2007, the United Colors of Benetton Adulto
growth rate of 9.9% (+1.2 at current exchange rates)                  brand posted a 9% increase, while the United
thanks to new license agreements and additional                       Colors of Benetton Bambino brand registered
development of retail channels. Sales performance                     a 15% sales increase and a 6% increase on rev-
during the period was influenced by the greater                       enue. Sisley confirmed its growth forecast which
contribution from the retail channel. The company                     was attributed to its more glamorous brand
registered a sales increase of 64.4% to €70 million                   image. The brand Playlife registered a 23% sales
thanks to its directly managed stores, including 114                  increase. In Europe revenue exceeded 12% com-
Solstice stores in the US and 66 Loop Vision stores in                pared to 2006 with significant sales performance
Spain “2007 closed with an improvement on all main                    in Italy (+11%), Spain (+11%), Greece (+24%),
financial and economic indicators. We were also able                  Portugal (+11%), and France (+15%).
to close important licensing agreements during the                    The group registered significant growth in Russia
course of the financial year” said Vittorio Tabacchi,                 (exceeding 40%) and the Asian markets reported
President of Safilo Group.                                            excellent results, especially in India (58%).

                   It Holding declares growth of 32% in 2007

                             It Holding, which owns the brands                 to a retail penetration in main cities
                             Gianfranco Ferrè, Malo, Extè and                  and the success of the group’s collec-
                             Just Cavalli (licensing agreement),               tions. Significant profit growth was
                             closed the year of 2007 in line with              registered in the Middle East (+76%),
                             the company’s expectations and con-               Eastern Europe (+73%) and the Far
                             firmed the group’s ability to achieve             East (+38%).
                             its targets forecasted the previous               Financial results as of 31 December
                             year. The company registered prof-                2007 totalled €306 million, of which
                             its totalling €636.6 million from                 €79 million derived from a securitisa-
                             €482.8 million the previous year                  tion of commercial credits (€299.6
                             with profits growing by 32% thanks                million as of 31 December 2006).
   Tonino Perna

                                                 April 2008

Geox: revenue exceeds                                                      Luxury must also think
€770 million                                                               about the environment
                                 Geox closed 2007 with
                                 consolidated earnings                Luxury compa-
                                 totalling €770.2 million             nies must not
                                 (+26% and 27% at con-                fail to consider
                                 stant exchange rates.)               the environ-
                                 Footwear represents                  ment in their
                                 approximately 93% of                 operations, is
                                 the company’s consoli-               the conclusion
                                 dated earnings which                 drawn by the
                                 amounted to €715.8                   study “Deeper
                                 million, an increase of              Luxury”, pub-
                                 25% compared to the                  lished recently
Mario Moretti Polegato           previous year. Apparel               by WWF Great
represents 7% of consolidated earnings and topped €51.8               Britain. If luxury
million (+53%). Italy remains the company’s strongest                 has been tradi-
market and registered a revenue totalling €294.5 mil-                 tionally associat-
lion (+11%), and represents 38% of the Group’s overall                ed with a more
revenue (43% in 2006). Earnings generated in Europe                   futile than use-
(excluding Italy) reached €342.3 million (+30%), and                  ful, a more excessive than economic consumption
represents 44% of the overall revenue (43% in 2006).                  then the times have changed, as has the consumer
The US market registered a 28% increase (40% at con-                  mentality, seeing the increasing flow of informa-
stant exchange rates) and in other countries as much as               tion streamed on the environmental impact and
70% (74% at constant exchange rates). ). “Today Geox                  social consequences.
is ready to face a new stage in its expansion programme               “The English section of the world organisation
that will secure our leadership within the European                   for environment protection points out that the
market and will lead to significant international develop-            democratization of luxury translates into the
ment”, commented Mario Moretti Polegato, Chairman                     urgent need for more responsible practices”,
and founder of Geox, “Our main objective is to increase               explained Elisabeth Laville, founder and manager
our retail network to 1,500 stores by 2010. In the next               of Utopies, one of the leading environmental con-
three years we expect excellent performance and expect                sultancies. “Today, the value of the sector offering
to grow 20% annually. Considering the excellent results               must be based also on themes other than rarity
obtained in 2007, we’ve decided to increase our pay-out               and exclusivity.”
ratio from 40% to 50%”.

                      From Ferrè to Cavalli stores in Istanbul
                                                     at least 10% of the               same shopping mall. This is the
                                                     population are able               group’s 22nd store to open in
                                                     to afford luxury                  the last 2 years.
                                                     brands. Italian lux-              Exciting projects also for
                                                     ury companies are                 Malboro Classics: last October
                                                     not waiting around                the group planned to open a
                                                     for things to happen;             series of mono-brand stores.
                                                     Gianfranco Ferre                  The plan included 3 store open-
                                                     has recently opened               ings by March 2008.
                                                     a 200 square-metre                However, thanks to excellent
                                                     mono-brand store in               sales performance obtained
   Turkey is becoming an interest-        Istanbul’s exclusive ‘Nisantasi’             from the first store opening in
   ing market for luxury fashion          shopping mall. On 18th January               Istanbul in October of last year,
   brands. In the last 10 years the       the accessory brand Plus It,                 the group have now opened 6
   GDP per head increased by an           owned by IT Holding group,                   stores. (Excerpt taken from Il Sole 24
   average of 4.5% and currently          also opened a boutique in the                Ore, 12/02/08. Edited by PW)

                                                 April 2008


  Luxury sector continue to grow despite
economic slowdown
                                                                     consequence, the company’s profitabi-
                                                                     lity. It would be a fatal error for com-
                                                                     panies to concentrate solely on emer-
                                                                     ging markets and forget the American
                                                                     market”, said Burt Tansky, the guest of
                                                                     honour at the Altagamma conference
                                                                     and Chairman of the US luxury chain
                                                                     stores, Neiman Marcus and Bergdorf
                                                                     Goodman, synonym of American luxu-
                                                                     ry retail stores. “Made in Italy products
                                                                     have always been very important in
                                                                     the US. Rich consumers will always
                                                                     remain rich. Listen to market demands
                                                                     and avoid looking elsewhere. Even after
                                                                     9/11 trading down has never been an
                                                                     option. Negative events do not change
                                                                     the habits of the affluent spender. These
                                                                     are people who do not really need the
                                                                     product they purchase but rather crave
Despite a turbulent economic slowdown in the US for the emotion triggered by detail and quality. They
and Europe, the luxury market should remain strong may buy less but they will never give up on certain
thanks to the demand for luxury goods in emerging luxury goods”, added Tansky. According to the CEO
markets. This is the 2008 forecast announced by consumers may abandon “accessible luxury” pro-
Merrill Lynch for Altagamma, the Association of ducts, which account for a large portion of luxury
Italian Luxury goods providers that operate in the brand business. But true luxury products, that trigger
high-end market sector.                               emotion, will not be spared. The US is expected to
Global luxury companies registered a revenue increa- show an improvement in overall revenue (less than
se of 7-8% thanks to                                                                7-8%). This was announ-
emerging markets such          Tansky: “It would be a fatal error                   ced by Merrill Lynch and
as China and India. “The                                                            Managing Director of
quality of our products       for companies to concentrate solely Investment Banking Italia,
must remain constant,           on emerging markets and forget                      Paola Durante. “Global
this is the key to suc-                the American market”                         revenue in the luxury
cess”, said Chairman of                                                             goods sector is expected
Altagamma, Leonardo                                                                 to grow by 7-8%, while in
Ferragamo. “We are confident that the luxury sector the US growth is expected to be slower. Significant
will not falter”, Ferragamo added. “We will always growth is expected in China (+20%), 9-10% in India
aim for quality and excellence. We do not want to and 15-20% in the Gulf countries. Japan is expected
lose our client base even if consumer spending may to pick up even though analysts in the sector are a
drop”.                                                little sceptic”, said Durante. “In the next 10 years”
“The American luxury market accounts for 30% of explained Durante, “brand perception will play an
global luxury revenues. Luxury is part of American important part but it won’t be fundamental. Japan
life. Economic slowdown may influence the beha- and Italy will suffer a recession. Global markets will
viour of the consumer. If the economic climate is have to take into account that products made in Italy
less favourable the affluent consumer may buy less and Europe will always be products of quality”, con-
products but will never ‘trade down’ to less luxu- cluded Durante.
rious items. The advice I can offer to Italian luxury During the course of the conference, introduced
companies is: do not ignore the American market. It by moderator, Alan Friedman, the following gue-
is a very important and mature market. Do not com- sts were asked to speak: Chairman and founder of
promise on quality and customer service because this Altagamma, Santo Versace, the Vice Presidents of
will have repercussions on consumer loyalty and as a Altagamma, Matteo Cordero di Montezemolo, Carlo

                                             April 2008

Guglielmi, Francesco Trapani and Ermenegildo Zegna. in Italy products so successful: the craftsmanship.
Each contributed to the debate offering their input We need to teach aspiring artists the importance of
on their respective sectors: apparel, design and jewel- manual labour: the most important designers were
lery. Zegna emphasised the importance of America craftsmen. Bearing this in mind our companies have
stating that it still remains the number one market. a lot of potential to grow. It is cheaper to invest in
“The outlook for 2008 does not look as bright as China and there is a quicker return”.
a few years ago. Financial markets are down and Versace concluded. Merrill Lynch announced that
this has a strong impact                                                            despite economic
on consumer markets                                                                 slowdown in the US and
and consumer spending.           Ferragamo: “We are confident that                  Europe, the luxury goods
America is going throu-          the luxury sector will not falter, We market will continue to
gh a difficult time at                         will always aim                      remain strong thanks to
the moment, and so will                                                             emerging markets.
Europe”, said Francesco                for quality and excellence”                  Matteo Montezemolo
Trapani, referring to                                                               stated that “some brands
the jewellery sector. Santo Versace talked about the are very well established and these companies can
potential expansion in new markets and believes that begin investing in other countries. Compared to
“no country like the French have a stronger tradition China and Russia and its neighbouring countries, the
behind them” quoting companies such as Hermes and economies of other countries are much slower”.
Louis Vuitton. “However in the fashion sector, there     “Performance in the furniture and lighting sector
is plenty of room to expand in emerging markets. We has been very good this year. As for Italy, the banking
can do it in a very intelligent and organised fashion”, system has to change. They have lost sight of the
he concluded.                                           fact that Italy is made up of small to medium sized
Versace added that “Italy is a very bureaucratic coun- companies. It is also important to protect IP rights of
try. We have the best entrepreneurs in the world but Made In Italy manufacturers by adopting new legisla-
they must not lose touch with what makes made tion”, concluded Carlo Guglielmi.

                                                                   Dall’alto: Leonardo Ferragamo, Burt Tansky
                                                                   e Francesco Trapani

                                             April 2008
       Rest of the world

Revlon swings to a profit after 2 years
                                                                         cents per share. The company’s
                                                                         improved financial performance
                                                                         was driven by increased net sales
                                                                         outside the US and the closure
                                                                         of the Vital Radiance line.
                                                                         Profits in the fourth quarter
                                                                         swung to a US$40.8 million
                                                                         (equal to 8 cents per share) com-
                                                                         pared with a loss of US$5.5 mil-
                                                                         lion, or a penny per share, a year
                                                                         earlier. The results did not match
                                                                         the expectations of analysts
                                                                         (US$392.2 million). Revenue
                                                                         rose 1% to US$382.6 million.
                                                                         The company said its full-year
                                                                         loss narrowed to US$16.1 mil-
                                                                         lion, or 3 cents per share, show-
                                                                         ing a loss for the 10th con-
Revlon, the giant cosmetics          to a profit after 2 years. Revlon   secutive year. (Excerpt taken from
maker controlled by the finan-       swung to a fourth-quarter           Finanza&Mercati, 29/02/08. Edited by
cier Ronald O. Perelman, swung       profit of US$40.8 million, or 8     PW)

   Adidas: quarterly net profit                              Saks e Neiman Marcus:
         rose by 63%                                                profits up

                                                         Saks Inc. closed the fourth quarter with a sales
  Herbert Hainer - President                             revenue totalling US$39.5 million, an 83.4%
                                                         increase. Sales in the third quarter, ended 2
 Adidas group reported a 63% rise in fourth-quar-        February 2008, reached US$99.7 million, a 4.7%
 ter 2007 net profit to €21 million. The group           increase.
 reported an operating profit of €61 million, an         Neiman Marcus registered profits totalling
 18% increase. Revenue reached €2.4 billion (+8%         US$44.3 million, an increase of 8% in the second
 against 14% due to currency headwinds). The             quarter, ended 26 January.
 company registered full year net profits totalling      The company registered a sales increase of 6% to
 €551 million, an increase of 14% and the operat-        US$1.37 billion.
 ing result rose by 8% to €949 million on revenue
 totalling €10.3 billion (+2%).

                                            April 2008
                                                 Rest of the world

Bergdorf Goodman rated the                                            Abu Dhabi: new
retailer that offers the best                                         fashion capital
customer experience
                                                             Following in the footsteps of Milan, Paris,
                                                             London and New York, Adu Dhabi hosted
                                                             the Abu Dhabi Fashion Week which was held
                                                             on 15-18 March 2008. The event provided a
                                                             unique opportunity for a view of the latest
                                                             fashion brands from the Middle East, Southern
                                                             Asia and North Africa.
                                                             The event was organised by Maven Corporate
                                                             in collaboration with the Camera Nazionale
                                                             della Moda Italiana (the National Chamber for
                                                             Italian Fashion, organisers of the Milan Fashion
Bergdorf Goodman was rated the retailer that offers          Week). The event took place at the Emirates
the best customer experience in the Luxury Customer          Palace Hotel in the Emirates.
Experience Index (LCEI) survey from the inde-
pendent New York-based Luxury Institute (www. Respondents commented that
the selection of products were unique and the store
provided a great shopping experience in person, over
the phone and online. Others commented on the “help-
ful staff, upscale environment and excellent merchan-
dise.” Those who rated Bergdorf Goodman most favour-
ably were female respondents over 50 years of age with
a net income of US$150-$199K and a net worth of
around US$1.0MM. Nordstrom and Barneys were
ranked second and third, respectively.

              Alexander McQueen announces profitability
                                         balanced mix of sales in women’s,     three months and Qatar, Kuwait
                                         men’s, accessories and licensing.In   and Dubai planned for the lat-
                                         this short period the business has    ter half of the year. Accessories
                                         grown three fold with a presence      reflect a key area of growth, cur-
                                         in all key multi brand depart-        rently accounting for 30% of total
                                         ment stores worldwide as well         sales. The ELVIE (launched a/w
                                         as stand alone stores in London,      2007) and the Flapper (launched
                                         New York and Milan. Recent            s/s2008) fast became ‘must have
                                         openings include Moscow and           bags’ and ‘bags of the season’
                                         Las Vegas. The successful retail      amongst the international style
                                         expansion continues in the US         press and buyers. “I was never
                                         with an opening in Los Angeles        in any doubt about the success
                                         scheduled for April 2008. The         of McQueen, said Alexander
                                         3,100sq foot store will be located    McQueen. My concept for the
                                         on the corner of Melrose Avenue       company has been consistent from
   Alexander McQueen
                                         and Melrose Place and will fol-       the beginning – to lay a founda-
   Alexander McQueen has achieved        low the strong aesthetic of exist-    tion to build a company that had
   profitability, successfully meet-     ing stores in London, New York        longevity and a sense of history
   ing the financial target set out by   and Milan. Future plans for retail    without losing my integrity. I owe
   parent company Gucci Group            expansion are heavily focused in      its success to all the loyal staff at
   in 2004. In that time the luxury      the Middle East with franchise        McQueen (the family), the fore-
   brand and its portfolio have devel-   stores planned for Beirut, India,     sight of PPR and Mr Polet and my
   oped substantially boasting a well    Jeddah and Bahrain over the next      CEO Jonathan Akeroyd.”

                                               April 2008
                                               Rest of the world

       Puma, fourth quarter                               Nike out to woo the ladies
      totalling €504.5 million

 Puma, the sports brand owned by collossal
 giant Ppr ended the fourth quarter of 2007               For the first time in its 40-year history, Nike has
 with sales totalling €504.5 million, an increase         launched a Europe-wide advertising campaign fea-
 of 10.3%.                                                turing solely female athletes. The slogan is “Here I
 The footwear segment generated sales of                  am”, which is a good match for the motto “If you
 €277.2 million (+ 7%), the apparel segment               have a body, you’re an athlete” coined by one of
 posted a sales increase of 14.8% to €194.7 mil-          Nike’s co-founders, Bill Bowerman.
 lion and accessories generated sales of €32.6            Nike’s choice is also commercial, seeing that the
 million (+14%). Geographic performance was               brand initially focused solely on male consumers,
 strong: the EMEA countries were up 14.3%,                but that has changed a lot over the years.
 Asia/Pacific, up 14.3%, whereas the US experi-           “The business generated by the Nike women’s col-
 enced a slight decline in sales (3.3%).                  lections accounts for around 25% of sales (which in
                                                          FY07 amounted to a total of $16.3 billion, editor’s
                                                          note) – said Carmen Marani, brand manager for
                                                          Nike Women Italy – but both the markets deemed
           Levi Strauss & Co:                             mature, such as Europe and the United States, and
           4,4 billion in 2007                            the developing markets have high growth poten-
                               Levi Strauss & Co.         The pan-European campaign, explained Adriana
                               announced financial        Pereira, Brand Manager for Nike Women Europe,
                               results for the four-      has a dual goal: “On the one side, it wants to help
                               th quarter and fiscal      women to learn about sport and, on the other, it
                               year 2007. Net reve-       wants to motivate a new generation of female ath-
                               nues for the fourth        letes”. (Excerpt taken from Il Sole 24 Ore, 22/02/08. Edited
                               quarter improved           by PW)
                               2% to US$1.3 bil-
                               lion compared to the
                               same period last year,
                               and increased 4% to
                               US$4.4 billion for
                               fiscal 2007 compared
with the previous year. Net income increased in the
fourth quarter by 179% to US$267 million compa-
red to the same period last year (US$96 million).
For the full fiscal year, net income grew to $460
million, a 93% gain over the prior year. “Looking
ahead, We will focus on retail expansion and opti-
mising our global presence in more than 110 coun-
tries,” said President and CEO, John Anderson.

                                             April 2008
                                                       Rest of the world

                              Mauboussin, lowers its prices
                            and offers female clientele a dream
                                       Just walk                  President of the company. ”When I look at the jewel-
                                       down Place                 lery we make I can also add that when it comes to
                                       Vendome in                 style and creativity, we are perhaps the most ‘Italian’
                                       Paris, the squa-           out of all the French jewellery brands.
                                       re renowned                An interesting fact: before 2002 only 30% of
                                       for its jewelle-           Mauboussin’s clientele were female, now they repre-
                                       ry shops, and              sent 70%. “We have abandoned the idea that a piece
                                       have a look                of jewellery is forever. For this reason we have lowered
                                       at the win-                our prices”.
                                       dow displays.              “We are very aware of the way women have evolved
                                       At       num-              in the last 30 years and we too have moved with the
                                       ber 20 Place               times. Our clientele has become very contemporary,
                                       Vendome you                cosmopolitan, extremely active and someone who
will soon notice the window display of Mauboussin’s               chooses her own jewellery”. The Mauboussin ‘transfor-
special designs - original, colourful and modern,                 mation’ has worked. In 2007, the company registered
without being ostentatious. “We are French and proud              revenue totalling €26 million and expects revenue
of it. When we go abroad we are not trying to posi-               totalling around €32 - €34 million by 2008. If all goes
tion Mauboussin as an international brand, like other             well, the company expects revenue totalling €60 mil-
luxury groups do, we want to emphasise the fact that              lion within the next 4 years. (Excerpt taken from Il Sole 24
the brand comes from Paris” remarks Alain Nemarq                  Ore, 13/02/08. Edited by PW)

 Skagen Designs, the Danish                                                 Profits for St Dupont
                                                                    The luxury
Skagen Designs, the ultra-light wristwatch brand                    g r o u p, S T
of Denmark, is growing its footprint in Italy. “We                  Dupont
entered the Italian market last May and now have                    posted prof-
100 stores – said the company – while our stated                    its in the
goal is to arrive at full coverage in the next two                  third quarter
years, boosting the number of outlets to 500 the                    of the fiscal
length and breadth of Italy”.                                       year 2007.
Italy is a new entry in the core markets in which                   For the first
Skagen Design is currently positioned, including                    time after
Germany, Japan, the UK and the U.S.                                 5 years and
We distribute in 40 countries, from North Europe                    after a slight
to Australia, from the Far Oer islands to Greenland                 decrease in
– continued the Scandinavian company – and sold                     sales revenue
around 2 million timepieces in 2006, delivering                     in the first
annual growth of 30%-40% in the past four years”.                   quarter (-
Skagen Designs, founded by Danish entrepreneurs,                    1.28 million)
Charlotte and Henrik Jorst, has taken only a few                    the group                    Marc Lelandais - President
years to rise to the pinnacle of Made in Denmark,                   posted a net return of €2
also thanks to the company’s extensive design                       million in the third-quarter ended 31 December. In
research and good quality/price ratio.                              the first 9 months of the fiscal year, ST Dupont reg-
“The United States has played a major role in our                   istered net revenue totalling €0.7 million (compared
business ascent – added the people at Skagen –                      to €0.8 million the same period the year before).
when in 1991 our debut collection shown in New                      Sales performance increased by 4.6%. The leather
York sold out with a first production of 200 pieces”.               goods and the prêt-a-porter sector registered a 9.4%
(Excerpt taken from Affari&Finanza, 18/02/08. Edited by PW)         sales increase in the first 9 months.

                                                     April 2008
                                                    Rest of the world

Bentley follows sales success with record profitability
                                                               10,000 unit mark for the first time. Global sales
                                                               increased by 7% in 2007 to reach 10,014 units.
                                                               Increases were seen in almost all major markets:
                                                               +7% in the UK, +4% in North America, +7% in
                                                               Europe, +18% in the Asia Pacific region, and +93%
                                                               in China alone.
                                                               These excellent results were driven by growth across
                                                               both the Arnage and Continental ranges.
                                                               Thanks to the introduction of the Azure convert-
                                                               ible, sales grew by 45% in the Arnage line, whilst
                                                               the Continental family sales increased by around
                                                               5%, with the GTC convertible proving the most
                                                               popular model.
                                                               Looking ahead to 2008, Bentley Chairman and
Bentley Motors has announced its financial results             CEO, Dr Franz-Josef Paefgen said: “We expect to
for the year ending 31 December 2007, reporting                maintain this momentum despite the financial insta-
record revenue and operating profit. For the calen-            bility that has been affecting the world economy.
dar year, Bentley increased its net revenue by €36m            We hope to take advantage of a complete line-up,
or 2.7% compared with 2006, to set a new record of             with the full Continental range, and the full Arnage
€1.37bn.                                                       range, including the recently launched Brooklands,
Operating profit increased by €18m or 13.1% to a               which has already been very well received. Our plan
new operating profit record of €155m.                          has always been to achieve a sales volume around
These results reflect Bentley’s record sales perform-          the current levels as it gives us excellent profitabil-
ance last year when the company surpassed the                  ity whilst maintaining brand exclusivity”.

    Pierre Hardy: from dancer to luxury footwear wizard
  A dancer up to the age of 30,            “I like things that are constructed,   lenges on the horizon? Such as a
  Pierre Hardy, the wizard of luxury       that develop from a geometrical        prét collection, as many in Paris
  footwear, underscores that “It is        base. On the other hand, I prefer      are hoping? “No, absolutely not, of
  an experience that helps you to          drawing to painting, lines to col-     that I’m quite categorical. Shoes
  be aware of your body. I still find      our”. He is currently presenting his   remain my world”. (Excerpt taken
  it useful today, in my work as a         A/W 2008-09 collection of foot-        from Il Sole 24 Ore, 12/02/08. Edited by
  designer. I’ve been doing it since       wear that play with the idea of a      PW)
  I was a child: shoes got under my        cube, often used in trompe
  skin at a very early age”, he recalls.   l’oeil, and have that touch
  The first step in his footwear           of typical Hardy irony. “My
  career was with Christian Dior,          shoes are very French, cer-
  then Hermès and then Balenciaga,         ebral, rigorous, a bit man-
  two companies with which he con-         nish even when made for
  tinues to collaborate, even though       women. My shoes are more
  he started to design his own col-        strongly influenced by clas-
  lections in 1999, first for women,       sicism than Italian shoes,
  then adding a men’s collection.          where fantasy prevails”.
  Small works of art, sophisticated        However, Hardy makes all
  products that bring buyers the           his shoes in Italy, except for
  world over flocking to the doors of      the sports line. The latest
  the historic palazzo where Pierre        gauntlet taken up by Pierre
  has his atelier, set alongside the       Hardy is called Gap, for
  Canal Saint-Martin in a corner of        which he has designed sev-
  Paris that has become fashionable.       eral shoes. Any other chal-

                                                  April 2008
       M&A - Licences

            Liz Claiborne                                      Palmers Textil acquires
           sells Ellen Tracy
                                                               Lejaby lingerie

L i z C l a i b o r n e I n c.   sting of a $27.3 million
said that it reached an          cash payment payable
agreement with a group           at closing, and a contin-
of investors to sell its         gent cash payment of          As reported by French website FashionMag, Austrian
Ellen Tracy brand for            up to $15 million based       group Palmers Textil has announced that it has
$42.3 million.                   on brand performan-           acquired 100% of French lingerie company Lejaby
The deal involves a              ce from 2008 through          from America’s Warnaco. The deal will raise the
purchase price consi-            2012.                         Austrian group to lead player status in the market,
                                                               on a par with France’s Chantelle and Belgium’s Van
                                                               de Velde.
                                                               The transaction, which will be funded through a cap-
                                                               ital increase of the group holding company, Marylene
     Tommy Hilfiger to bring                                   Holding, will enable two investors to join the share-
                                                               holder structure: the investment fund, 21Central
      shoe license in-house                                    Partners, controlled by Benetton, and lingerie distri-
                                                               bution specialist, Marc Lefebvre.
                                                                          Ferrè names
                                        that from 1                     Canepa as men’s
                                        January 2008
                                        the company
                                                                          underwear &
                                        would bring                        beachwear
                                        its men’s
                                        and women’s                         licensee
                                        business in-             Gianfranco Ferré S.p.A. recently announced
                                        house, ending            that the label’s license relative to its men’s
                                        a licensing              underwear and beachwear line has gone to
                                        agreement                Canepa S.p.A. An already established name,
                                        with the Stride          Canepa S.p.A is already responsible for pro-
                                        Rite, unit of            ducing and distributing silk ties, scarves and
                                        Collective               foulards for Gianfranco Ferré.
                                        Brands Inc. It            “Excellence and exclusiveness form the pri-
                                        will however             mary value orienting each of our decisions,”
                                        continue                 explains Gianfranco Ferré CEO Michela Piva.
                                        to produce               “In view of this, Canepa represents the ideal
                                        the Tommy                choice for developing the Gianfranco Ferré
                                        Hilfiger Kids            product range also in the strategic men’s
 Tommy Hilfiger                         footwear.                underwear and beachwear sectors,” Piva con-

                                                  April 2008
                                                          M&A - Licences

Fratini brothers to sell                                                Costantine (and his wife)
Tie Rack                                                                  take control of Lush

Tie Rack will change             stores, many located in
h a n d s a s a d v i s o r s,   H e a t h r o w, G a t w i c k ,
Mediobanca (appointed            Luton, Glasgow and
by Fingen) has been              Edinburgh) compared
instructed to find a             to the 12 stores in the
buyer for the English            US, 8 in Italy and 7 in
tie brand. Fingen is the         Hong Kong. The Fratini
industrial holding com-          family forecast profits
pany in Florence estab-          totalling €123 million
lished by the brothers           by 2011 (compared to
Marcello and Corrado             the current €71 mil-                Lush Cosmetics Managing Director Mark
Fratini. The brand cur-          lion) and an Ebitda of              Constantine said he and fellow shareholders in
rently has a network of          €80 million (compared               the closely held company, the U.K. owner of
over 300 retail stores           to €2.1 million). Fingen            more than 500 organic-cosmetics stores, bought
in 25 countries, 35%             are selling Tie Rack                out co-founder Peter Blacker. “We bought him
of which are located in          because the company                 out about a week ago,’’ Constantine said in an
international airports.          is focussed on purchas-             interview with Bloomberg News.
Tie Rack uses many               i n g t r e n d i e r b ra n d s    The managing director and his wife now own
Italian silk suppliers           with good performance               more than 50% of the organic-cosmetics chain.
and offers an exten-             potential. Indeed, the              Constantine did not specify what stake Blacker
sive range of quality            Group no longer has                 owned in the company or what he was paid.
and stylish accessories          license agreements with             As of a filing with Britain’s Companies House
using traditional mod-           Calvin Klein, Guess or              dated Feb. 16, 2007, Blacker owned 23 percent
els and designs. Tie rack        Cotton Belt. (Extract from          of Lush. He was among seven shareholders.
retail stores are mainly         “Il Mondo”, 15/02/08. Edited        (Extract from “Finanza&Mercati” of 13/02/08. Edited by PW)
present in England (100          by PW)

          Tommy Hilfiger signs a licensing agreement with Delta Galil
                                                                    Tommy Hilfiger Group announced a licensing
                                                                    agreement with Delta Galil Industries Ltd. for
                                                                    women’s intimates. Delta Galil Industries alrea-
                                                                    dy produces innovative fashion for Ralph Lauren,
                                                                    Calvin Klein, Hugo Boss, Nike and Puma, and are
                                                                    distributed through a network of dedicated retail
                                                                    stores such as Marks & Spencer, Wal-Mart and
                                                                    Victoria’s Secret. The Tommy Hilfiger Women’s
                                                                    Intimates collection will be available at select retail
                                                                    locations and premium department stores as of
                                                                    August 2008.

                                                      April 2008

  Maurizio Roman is the new                                    Luigi Battuello is the
   Ceo for Ferretti Yachts                                    new Regional Director of
                                                              South Europe
                                      Maurizio Roman                                            Luigi Battuello
                                      was recent-                                               has recently
                                      ly appointed                                              been promot-
                                      Ceo of Ferretti                                           ed to regional
                                      Yachts. He is                                             director of
                                      also the ad inter-                                        southern Europe
                                      im head of the                                            at McArthur
                                      Ferretti Group’s                                          Glen. He was
                                      Custom Line                                               previously
                                      and the Mochi                                             Centre Manager
                                      Craft brands. He                                          of the Serravalle
                                      will report to the                                        Designer Outlet
                                      Ceo of Ferretti                                           scheme near
                                      Group, Vincenzo                                           Genoa. Battello
                                      Cannatelli.                                               will head the
                                                              Luigi Battuello
                                      Roman, 55, was                                          company’s busi-
                                      most recently Ceo       ness in Southern Europe which includes the
                                      of Technogym, a         Serravalle Designer Outlet, Castel Romano and
 Maurizio Roman                       fitness and well-       Barberino as well as outlets located near Venice,
                                      ness equipment          Naples, Sicily and Athens. Luigi Battello started
 manufacturer. He held that position for five years.          working for McArthurGlen in 2001, one year
                                                              after the opening of the Serravalle Designer
                                                              Outlet, and has been Centre Manager for the last
                                                              seven years. Luigi Battello will report directly to
                                                              the CEO of McArthurGlen, Julia Calabrese.
 Escada appoints Claus
Mingers as Chairman
                                                                Cedric Wilmotte is Senior
Claus Mingers, 61, is the new Chairman of Escada
group. Mingers who is already a member of Escada’s            Vice President of European
Supervisory Board since 14 May 2007 replaces
Hans-Jörg Rudloff, who stepped down from his role
                                                              Operations at Michael Kors
on 4 December.                                                Cedric Wilmotte, previously European Sales
                                                              Director at Marc Jacobs, has been named Senior Vice
                                                              President of European operations at Michael Kors,
                                                              a newly created position. From 17 March he will
 Romain Guinier: New                                          report to John D. Idol, CEO of Michael Kors Inc.

General Director of Aigle
Aigle, French sportswear and outdoor clothing brand,
appoints Romain Guinier as General Director of                  Givenchy, names young
the company. Guinier, 43, has amassed significant
managerial experience in multinational companies:
                                                              Italian Riccardo Tisci as
Guinier was appointed General Director for Europe             creative director
in 2006 by Louis Vuitton. He will work alongside              Givenchy named Italian designer, Riccardo Tisci, to
the Chairman of the company, Yves Mouriès, and                take over as chief designer of womens and menswear
will be responsible for the strategic development             line. Chairman and General Director of Givenchy
of the Aigle brand that Suisse Maus Group brought             (Lvmh) since 2004, Marco Gobbetti, said “since his
back and revamped. Aigle also has a subsidiary in             appointment in 2005, Tisci’s has decided to dedicate
Treviso, Italy, (Aigle Italy). Aigle is positioning itself    himself totally to the maison. We have grown togeth-
very well in Italy as outdoor apparel, footwear and           er, driven by certain common objectives, including
accessories brand.                                            financial ones”, he concluded.

                                                 April 2008

    Michael Kors announces                                     Hans Fluri is the new
     new SVP of European                                      Chief Operating Officer of
            Division                                          Hugo Boss
                                                              Hugo Boss has announced the appointment of Hans Fluri
 Michael Kors (USA) Inc. announced that it                    as Chief Operating Officer of Hugo Boss. Fluri replaces
 has named Cedric Wilmotte as the Senior Vice                 Werner Lackas, who has held the role since 1997. Lackas
 President of European Operations, a new position             was responsible for purchasing, production and logistics
 effective March 17th. He will report to John D.              of the maison. Hans Fluri resigned from his former posi-
 Idol, CEO of Michael Kors Inc. and will be respon-           tion as Ceo of Deutscher Paket Dienst last February.
 sible for all retail and wholesale for Europe and the
 Middle East. Mr. Wilmotte is an industry veteran
 who has spent 10 years in fashion, most recently as            Sonia Rykiel strengthens
 European Sales Director for Marc Jacobs running
 its European whole sale division. Prior to joining
                                                              the company with Steiner
 Marc Jacobs in February of 2004, Mr. Wilmotte                and Greiss
 spent 6 years at Donna Karan rising to the title of          Nathalie Rykiel who took over from Simon Burstein as
 European Director of DKNY Men’s and Women’s.                 Chairman of her mother’s company, Sonia Rykiel, in
 The company has plans to significantly grow its glo-         2007 is now supported by François Steiner, the newly
 bal retail and wholesale presence with the opening           appointed General Manager and Gabrielle Gneiss, the
 of freestanding stores and through increasing the            new Artistic Director of the company. Greiss, who
 number of shop in shops and specialty stores.                was Sonia Rykiel’s right hand woman for 2 years,
                                                              headed the Sonia clothing line. As artisitic director,
                                                              Greiss is now responsible for the main clothing line.
                                                              Previously, Greiss worked for Alber Elbaz at Lanvin,
  Uli Becker is the new Ceo                                   Anna Molinari and Martin Sitbon. François Steiner
                                                              has been General Manager at Sonia Rykiel since 1st
of Reebok                                                     November 2007 and General Manager and Chairman
Uli Becker, Chief Marketing Officer of Reebok, has            of Kenzo from 2003 to the end of 2006.
been appointed Chairman and Ceo. He replaces Paul
Harrington. From the first of April Uli Becker will
report directly to Herbert Hainer, Ceo and Chairman            Chloé recruits Hannah
of Adidas.
                                                              Accordino to, Hannah MacGibbon, who
 Marks & Spencer: Rose                                        worked for Phoebe Philo from 2001 to 2006 will take
                                                              over from Paulo Melim Andersson and will head the
becomes Executive                                             Chloé creative team. MacGibbon, 38, will showcase her
                                                              first Spring 2009 collection during Paris Fashion week in
Chairman                                                      October.
Marks & Spencer Group Plc announced Chief
Executive Officer Stuart Rose will become executive
chairman in June, taking over from Terry Burns when             Umbro: Matthew Cook
he steps down from his non-executive role. Rose will
stay with the company until June 2011. The company            replaces Steve Makin as Ceo
also appointed David Michels as deputy chairman               Nike Inc recently announced that Steve Makin Chief
and said Finance Director Ian Dyson will take on              Executive Officer of Umbro has decided to leave the
responsibility for retail and human resources. Rose was       newly acquired company. Makin will be succeeded
appointed in May 2004 to fend off a bid for Marks             as President and Ceo by Matthew Cook who most
by billionaire Philip Green. Under his leadership, the        recently was General Manager for Nike Italy. Makin
company redesigned shops and used models and sing-            joined Umbro in July 2006 as Chief Financial Officer,
ers in its commercials to reverse a sales decline. Burns      a position he held until June 2007 when he became
became chairman in 2006. Rose, 58, was appointed as           Chief Executive. Cook joined Nike as Finance Director
Ceo in May 2004 and under his leadership, the com-            of Nike Italy. In 1993, he moved to the US as Global
pany redesigned shops and used models and singers in          Financial Planning Director. He returned to Nike Italy
its commercials to reverse a sales decline. (Excerpt taken    in 1997 as Footwear Business Director and became
from Finanza&Mercati,11/03/08. Edited by PW)                  General Manager in 2000.

                                                 April 2008
       Shop openings

  Givenchy opens its third                                       New Moschino boutique
store in Paris                                                 in Kiev
Design house Givenchy has recently celebrated the                                               Moschino recently
opening of its third stand alone store situated on 28                                           celebrated the opening
Faubourg Saint-Honore, Paris. The first store was                                               of a new boutique in
designed by artistic director Riccardo Tisci. This                                              Kiev. The space spans
new space, with its white-washed walls, covers 300                                              185 square metres and
square metres.                                                                                  covers 2 floors. This is
                                                                                                the second store ope-
                                                                                                ning in the Ucraine
                                                               since June 2007, when the group opened its first store
  Roger Vivier celebrates                                      in Dnepropetrovsk. The new store was created in line
the opening of its first Italian                               with the concept store approach: a fairytale setting. The
                                                               boutique carries the full complement of the Moschino
boutique                                                       clothing lines: Moschino e Moschino Cheap and Chic
                                        Roger Vivier           as well as accessories. The store showcases the Spring/
                                        celebrates the         Summer 2008 collection.
                                        opening of
                                        its first Italian         Burberry opens in Poznan
                                        flagship store         Burberry celebrated the opening of its first store in
                                        located in Via         Poznan, Poland. The store spans 133 square metres and
                                        Sant’Andrea,           is located inside an historical 19th Century building. The
                                        Milan. The 250         store carries the full complement of Burberry London
                                        square-metre           women’s clothing line and accessories as well as the full
                                        space covers 3         range of perfumes, time pieces, sunglasses and bags.
Roger Vivier also owns stores in Paris, Hong Kong
and New York. Artistic director, Bruno Frisoni and               Patek Philippe arrives
the brand’s ambassador, Ines de la Fressange were              at Tiffany’s in New York
both present at the opening. (Excerpt taken from Il Sole 24    Watchmaker Patek Philippe has announced the opening
Ore, 21/02/2008. Edited by PW)                                 of a Patek Philippe salon inside the Tiffany’s flagship
                                                               store in New York City which will open in April 2008.
                                                               The 3,000-square-metre salon is located on the mezza-
  Au Nom de la Rose: a                                         nine. Tiffany & Co and Patek Philippe have been long
                                                               standing partners since 1851. “The salon celebrates the
corner of Paris arrives in Milan                               art of watch making as practiced by the most skilled craf-
                                                               tspeople working in the great tradition of Patek Philippe,”
                                     The group Au Nom          said Michael J. Kowalski, chairman and chief executive
                                     de la Rose opens          officer of Tiffany & Co.
                                     in Milan in Piazza
                                     Wagner, 1. The group
                                     already have stores
                                                                 7 For All Mankind opens
                                     in Paris, Brussels,       two stores in Paris
                                     London, Barcelona,        7 For All Mankind recently celebrated the opening of its
                                     Geneva, Prague and        first two 7 For All Mankind shop-in-shop in Printemps
                                     Moscow.                   and Gallery Lafayette. The spaces span 27.5 and 31.5
                                     A small corner of         square metres respectively and both carry the full com-
                                     Paris has come to         plement of the men and women’s collection of 7 For
                                     Milan – one window        All Mankind. 7 For All Mankind’s retail expansion plans
                                     display is enough to      continue in Europe through shop-in-shop in prestigious
                                     capture the attention     department stores. The first flagship store opened in Los
                                     of passers by.            Angeles in November, followed by Dallas, 2 shop-in-shop
                                     Au Nom de la Rose         in the El Corte Ingles department store in Barcelona and
                                     are the only florists     Madrid in January. 7 For All Mankind expect to open in
                                     in Europe to offer        Harvey Nichols and Istanbul the following April. In the
                                     one type of flower        second quarter of 2008 the group expects to open in
– i.e. the rose - in all different colours and perfumes.       Germany, UK, Croatia and Saudi Arabia.

                                                  April 2008
                                                    Shop openings

   Miu Miu expects to open                                     M Missoni: 4 new store
first boutique in London                                     openings in the first quarter
by 2010                                                      of 2008
Miu Miu continues to expand its business after               After the 2006 opening of the first directly managed
having renovated two boutiques, one in New York              boutique in the prestigious Soho district of New York,
(located in 100 Prince Street) and one in Hong Kong          M Missoni continues to expand its business in the US.
(1, Peking Road) in July 2007.                               A new single-brand store was opened in mid-February
By 2010, the company owned by Prada group plans              in Paramus, New Jersey. The 60 square-metre store is
to open its first flagship store in London (150 Bond         located within the Garden State Mall. The new store
Street, on the corner of Bruton Street).                     was created in line with the concept store approach
The space, currently empty, spans 3800 square                with minimal fittings that alternate lacquered, white
metres and covers two floors. The store is located           and oak items, brushed metal and bronze elements. M
close to Stella McCartney and Matthew Williamson.            Missoni has more than 1,000 points of sale in more
The space was previously occupied by fashion brand,          than 40 countries. Preliminary figures for 2007 show
Ungaro. (Excerpt taken from , 7/03/08.    revenue of around €46 million; an increase of 47%
Edited by PW)                                                compared to the previous year.

                                                               Cucinelli: after Bruxelles
 Harry Winston opens in                                      a store in Via della Spiga in
Hong Kong                                                    Milan
                                  After        Harry                                     A few days after the
                                  Winston celebra-                                       opening of the Brunello
                                  ted the opening                                        Cuccinelli mono-brand
                                  of its first store in                                  store in Brussels, loca-
                                  Beijing in 2007, the                                   ted in Place du Grand
                                  group has recently                                     Sablon in a beautiful
                                  opened a store in                                      18th Century building
                                  Hong Kong located                                      which also houses the
                                  in the Peninsula                                       Group’s showrooms on
hotel, the perfect setting for an extremely traditio-                                    the second and third
nal brand.                                                                               floor, Cuccinelli ope-
When asked the difference between the consumer                                           ned a showroom in Via
from Mainland China and Hong Kong, Thomas J.                                             della Spiga in Milan. By
O’Neill, CEO of Harry Winston, replied that con-                                         2008, the group expects
sumers from Hong Kong were far more sophistica-                                          to operate 30 Brunello
ted and appreciated the value and tradition of the           Cuccinelli stores located in 4 continents. The inte-
brand. The store is directed toward those who have           rior design features neutral colours and interesting
admired the Harry Winston brand for many years.              lines.

 New Valentino boutique                                        Giorgio Armani opens in
opens in Mexico City
                                                             Giorgio Armani arrives in India. Leading Italian
Valentino recently celebrated the opening of its first       designer Giorgio Armani’s firm has signed a joint
mono-brand boutique in Mexico. The luxurious                 venture with India’s most valuable real estate firm,
flagship store is located in the fashionable Avenida         DLF Ltd. Giorgio Armani Holding BV will take 51
Masaryk. It carries the full complement of Valentino         percent in the venture, the maximum allowed for a
Donna, the men’s collection and accessories.                 single-brand foreign retailer in India.
The 510-square-metre flagship store becomes one              Armani will bring $250,000 to the venture. Dlf
of the biggest Valentino outlets in the world, in line       will be responsible for the sales and distribution of
with the company’s policy to expand in the Central           the Armani lines in India. The first Armani stores
and South American market.                                   would be set up in New Delhi. (Excerpt taken from
                                                             Finanza&Mercati, 20/02/08. Edited by PW)

                                                April 2008
        ADS & Events

Luxury triumphs at the Oscars
Everyone is talking about the Oscars, not so much and a beautiful bracelet by Cartier. The Academy
the award winners themselves but the media event Award Winner for best actress, French beauty, Marion
par excellence. An event that unfolds along a red Cotillard, would also have won the best dressed
carpet amidst a craze of photographers’ flashes and award. On the red carpet she wore an amazing white
where the journalists climb over each other in the mermaid-inspired gown with Chopard jewellery and
quest to immortalise who dressed who. A unique a Swarovsky evening bag.
fashion show for the world’s top designers, which, The American actress, Jennifer Hudson, last year’s
just like every other year, sees them compete against Academy Award Winner for best supporting actress
each other to clad actors and actresses alike in their in the film “Dreamgirls” wore a Roberto Cavalli eve-
creations.                                                ning gown.
Almost all the A-listers opted for a monochromatic Julie Quinn, wife of actor, Francesco Quinn (son of
look this year: ranging from black, blue, purple, red, legendary actor, Anthony Quinn) chose a beautiful
white to champagne.                                       evening gown by Michele Miglionico Haute Couture
This year red dominated the red carpet as most of - a floor length décolleté evening gown with a colour-
the biggest names in Hollywood shrugged off the ful burst of diamonds, coral, lace, amethysts, citrines
idea that wearing red on the red carpet                                  and tourmalines.

                                        ( )
would make them appear insignificant             Almost all              Notables in black or nearly black (mid-
– as many designers believe.                                             night blue, aubergine) were Nicole
Amongst many of the actresses who
                                                 the A-listers           Kidman who wore a Balenciaga eve-
could not resist the temptation of               opted for a             ning dress accented with a L’Wren
gracing the carpet in red was Anne               monochromatic           Scott necklace and a Bottega Veneta
Hathaway, the actress famous for her                                     clutch bag.
role in “The Devil Wears Prada”. She
                                                 look this year..        Kate Blanchett wore a Dries Van Noten
graced the red carpet in a red Marchese                                  midnight blue satin halter gown with
gown with rose detailed one shoulder strap.               floral beading on the skirt and a Roger Vivier clutch
Model Heidi Klum also chose a red silk taffeta bag. Jessica Alba wore Marchesa and Cartier jewels.
bustier gown with drape detail by John Galliano Hilary Swank was in Versace, with a Ferragamo eve-
Haute Couture, as well as Miley Cirrus (alias the ning bag and Chopard jewels.
singer Hanna Montana) chose a red evening gown by Penelope Cruz wore a Chanel couture with a slight
Valentino.                                                train which made her look very regal, perfect for the
On the other hand, Kelly Preston accompanied her Oscars.
husband, John Travolta clad in an orange Roberto The men were clad in tuxedos: the Academy Award
Cavalli dress.                                            Winner, Daniel Day Lewis wore a tuxedo which was
Helen Mirren wore a red satin dress by George custom-made in the Bespoke Room at Paul Smith, in
Chakra, accented with Swarovsky crystal drop sleeves Westbourne House, London - a hand-made midnight
and back. Katherine Heigl who plays Doctor Izzie blu, wool tuxedo with silk trimming and shawl collar
Stevens in Grey’s Anatomy, created a stir amongst and slim fit trousers.
the photographers in a red Escada column gown with Javier Bardem wore a navy Prada four-button tuxedo,
one-shoulder design, and a draped and pleated bodi- a white stretch poplin shirt and a silk bow tie. The
ce. She selected Jimmy Choo clutch bag and evening Coen brothers also wore Prada. Ethan Coen wore a
shoes.                                                    three-buttoned black tuxedo, a white stretch poplin
Notables in white and blush pink were Cameron shirt and a black bow tie.
Diaz, who never falters. An icon of style, the beautiful Joel Coen wore a three-buttoned tuxedo, a white
American actress graced the carpet in a Dior Haute stretch poplin shirt and a black silk bow tie.
Couture blush pink silk taffeta gown with drape Owen Wilson and Tony Gilroy wore black tuxe-
details. She selected Bulgari jewels and a Roger Vivier dos from the Calvin Klein Spring/Summer 2008
evening bag. The American actress, Keri Russell, menswear Collection. Both Patrick Dempsey and
famous for her appearance in “Mission Impossible          his wife Jillian wore Versace. Actors John Stewart,
III”, was on the red carpet wearing a strapless cham- George Clooney, Johnny Depp, Harrison Ford,
pagne organza bustier evening dress by Nina Ricci Denzel Washington, Jack Nicholson, Sean Penn,
and a necklace by H. Stern.                               Kevin Zegers, Spike Lee, and film directors Martin
Renèe Zellweger, an Academy Award Winner for best Scorsese, Jason Reitman and the Italian Andrea Jublin
supporting actress in “Cold Mountain” in 2003, wore all wore Armani, many of which were both custom
a silver lace gown with a side slit by Carolina Herrera and hand-made.

                                              April 2008
                                               ADS & Events

Nicole Kidman        Cate Blanchett                    Anne Hathaway       Miley Cirus
Balenciaga           Dries Van Noten                   Marchesa            Valentino

Cameron Diaz         Marion Cotillard                  Jennifer Hudson     Jessica Alba
Dior Haute Couture   Jean Paul Gaultier                Roberto Cavalli     Marchesa

Penelope Cruz        Renèe Zellweger                   Jennifer Garner     Johnny Depp
Chanel               Carolina Herrera                  Oscar De La Renta   Giorgio Armani

                                          April 2008
                                                         ADS & Events

Louis Vuitton’s new video ad
                                                                 Communications for Louis Vuitton, who has not
                                                                 yet disclosed the budget for this new venture.
                                                                 “Where will life take you?” is the question that is
                                                                 posed during the 90-second advertisement that is
                                                                 enveloped in mystery and fantasy.

Louis Vuitton, according to is launching
a video commercial which will be aired on televi-
sion and in cinemas from February onwards in 15
countries throughout 2008. “I believe the time has
come to communicate our brand using new media
channels” commented Antoine Arnault, Head of

Tommy Hilfiger,
Carefree Confidence                                                Amedei wins the chocolate
                                                                    “oscar” for the third time

Tommy Hilfiger Group presents ‘Carefree Confidence’,
the Spring/Summer 2008 global advertising campaign
for the Men’s and Women’s Sportswear Collection.
Inspired by styles of the late 60’s and 70’s, it updates
classic designs from the golden age of American glam-
our - from the trench coat and the shift dress, to the
navy blazer and the romantic blouse. The Spring 2008
advertising campaign is the latest edition in the series
of National Geographic magazine inspired advertising.
The Bonneville Salt Flats, Utah - Often referred to as
‘The Eighth Wonder of the World’ provides the strik-               For the third year in a row, Amedei chocolate
ing backdrop for this campaign. Stretching over 30,000             has been named ‘Best in the World’ by the
acres, this unique place has become famous as the home             Academy of Chocolate in London by a panel
of the Bonneville Speedway (an area that is marked out             of experts made up of 300 companies in the
for motor sports. It is particularly noted as the venue for        confections industry. The Toscano Black 63%
numerous land speed records). The campaign tells the               was named the best chocolate ‘from the bean
story of two adventurers who strike out into the epic              to the bar’. Amadei also won 4 Golden Awards
landscape of the salt flats driving their vintage sports cars.     and 4 Silver Awards.

                                                    April 2008
                                                ADS & Events

Philip Watch hits the court with McEnroe
                                                        the first Swiss chronograph made in Italy. The time-
                                                        piece brand, which serves the mid-high end of the
                                                        market, belongs to the Morellato-Sector group and
                                                        is the new challenge taken up by Massimo Carraro,
                                                        Managing Director and major shareholder. “McEnroe is
                                                        a good representative of the Philip Watch universe”, he
                                                        explained. «He has natural class and is still hungry to
                                                        win, an ideal model for the men and women over 30
                                                        who form the brand’s core market.” Morellato leads
                                                        the Italian watch strap market, powered sales of €270
                                                        million in 2007 and, in 2001, on an idea of Carraro’s,
                                                        created a new market in the jewellery sector. However,
To seal the victory of a textbook turnaround, one of    the company did not ditch the watch market, but
tennis’s great names, John McEnroe, is being brought    acquired the Sector group in late 2006 from the pri-
back to the court. The ex-tennis champion, all class    vate equity fund Opera at a symbolic price, albeit with
and imagination, determination and character, will      debt of €44 million and a series of results in the red.
be given the role of testimonial to fete the 150th      Indeed, the company was about to crash. “We had to
anniversary of Philip Watch, the company created by     restructure, of course, revolutionising management and
Neapolitan watchmaker Filippo Giardiello (hence         paring the product lines” said Carraro. (Excerpt taken from
the name “Philip’s Watch), who made and launched        Il Mondo, 20/02/08. Edited by PW)

                                                                 Marc Jacobs and
   United Colors of Africa,                                      Richard Prince for
  Benetton promotes micro-
     credit programme                                            Louis Vuitton S/S
                                                                                            comic strips of American
                                  The United                                                newspapers, by cartoons,
                                  Colours of                                                photographs and adverti-
                                  Benetton                                                  sing images, Prince appro-
                                  Group                                                     priates in a personal and
                                  launched                                                  idiosyncratic way. Using a
                                  its global                                                wide range of techniques,
                                  communication                                             his art shows us what
                                  campaign for                                              we already know about
                                  2008 entitled                                             our world but haven’t
                                  “Africa Works,”        Marc Jacobs, Artistic              yet seen in its true light.
                                  promoting the          Director of Louis                  Richard Prince rose to
                                  micro-credit           Vuitton, has launched              fame for his 19 “Nurses”
                                  programme              an exceptional and crea-           paintings, mysterious nur-
                                  in Senegal             tive collaboration with            ses wearing little hats and
                                  founded by             the American neo-pop               surgical masks inspired
                                  Youssou                artist Richard Prince              by the covers of a vintage
                                  N’Dour. The T-         for the Louis Vuitton              series of romantic fiction.
                                  shirts promotes        S/S 2008 Accessories               And, as if in homage to
                                  Africa seen            Collection. Prince is one          the famous Nurses pain-
 from an African standpoint. The campaign                of the most influential            tings, Marc Jacobs sent 12
 features the Africa Works slogan, the                   and most discussed con-            supermodels down the
 illustration of the African continent and               temporary artists, known           catwalk, each carrying a
 various photos of the Benetton campaign,                for his famous appro-              bag from the Monogram
 which appear on a white, blue, pink, green              priation art. Inspired by          Jokes series silk-screened
 and black background. The campaign was                  popular American cul-              with the famous jokes
 photographed by James Mollison for Fabrica.             ture and collective ima-           used by Prince in his
                                                         gination, by the satirical         paintings.

                                           April 2008

                  Oberoi Udaivilas in Udaipur voted
               best hotel in the world by Travel&Leisure
If you are thinking of tra-                                                    Cape Grace in Cape
velling a lot this year, you                                                   Town.
will soon be overwhelmed                                                       In Europe, France and
by the number of destina-                                                      Italy have always top-
tions offered and the choi-                                                    ped the charts, howe-
ce of hotel will certainly                                                     ver in 2007 seven other
influence this decision.                                                       countries made it to the
Trave&Leisure, a referen-                                                      top 100, among which,
ce point for discerning tra-                                                   Czech Republic, England,
vellers who enjoy luxury                                                       G e r m a n y, H u n g a r y
destinations worldwide,                                                        a n d Tu r k e y. T h e Fo u r
have published their list                                                      Seasons Hotel Istanbul in
of the 100 best hotels in           Top hotels in the US and                   Sultanahmet came in at
the world. Hotels in Asia have      Canada are Tu’ Tun Lodge, Gold       number 4.
always topped the charts and        Beach in Oregon (17°/100), The       In Italy, the Relais Il Falconiere
for the first time the Oberoi       Four Seasons Resort Hualalai         in Cortona (AR) came in at
Udaivilas in Udaipur wins top       (9°/100) comes in at number          number 6, Le Sirenuse in
honours as one of the best          one in Hawaii. In Central and        Positano came in at number
hotels in the world. Other          South America the famous La          25, the San Pietro in at num-
hotels in Asia such as the          Casa Que Canta comes in at           ber 72, the Pellicano in Porto
Oberoi Amarvilas in Agra and        number one and Zihuatanejo           Ercole in at 52, and the Hotel
the Oberoi Rajvilas in Jaipur       in Mexico is 23rd. In the            Villa Cipriani in Asolo came in
come in at 10th and 11th place      Caribbean, the Jumby Bay in          at number 90.
respectively.                       Antigua comes in at number           Florence has been voted the best
Again in Asia, the Oriental in      14. If Africa is famous for its      city in the world for the second
Bangkok ranked 3/100 (it came       luxurious safari resorts such as     year running. In second place
in at number one in 1996). In       the Singita Sabi Sand, in Kruger     is Buenos Aires and Bangkok is
the US, hotels in the South,        Park (2°/100), and the Mombo         in third place. Voted best island
thanks to their legendary hospi-    Camp in Botswana, many hotels        in the world is Bali. Best hotel
tality, occupy 25% of the 100       ranked in the top 100 are loca-      under $250 is the Penisola of
best hotels, 3 of which are loca-   ted in major cities such as the      Bangkok and best Spa, Mii amo,
ted in South Carolina.              Four Seasons in Cairo and the        Sedona, in Arizona.

                   A luxury hotel dedicated to the Beatles
                                                       The luxury hotel called Hard Days Night is dedi-
                                                       cated to the Beatles and boasts over 100 rooms
                                                       and 2 penthouse suites and incorporates the
                                                       Beatles’ story into its design. The hotel is located
                                                       in Liverpool near the Streets Cavern nightclub,
                                                       where the Beatles began their career. The hotel
                                                       features paintings of the fab four and more than
                                                       110 pieces of original artwork created by acclai-
                                                       med Beatles’ artist, Shannon. The hotel features 3
                                                       rooms for private entertainment perfect for wed-
                                                       dings, the Lennon suite which features a white
                                                       grand piano and the McCartney suite.The hotel’s
                                                       main restaurant is Blakes, named after the artist
                                                       Sir Peter Blake, who designed the cover of the Sgt
                                                       Pepper’s Lonely Hearts Club Band album.

                                          April 2008

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