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Daily News – August 17, 2009

August 17, 2009

Fashion United and other sites are announcing that Escada US has followed the German company, and filed for Bankruptcy in the US. Abercrombie & Fitch, the higher-end youthful casual line of clothing, has been very publicly stating that due to going into and through this recession, they will be cutting their prices. The strategy of keeping prices high has caught up with them and not in a good way. This LA Times article reports how their sales are dropping off and just this morning Forbes is reporting that their sales and net profits are down for the quarter.

Brooks Brothers has quietly opened a boutique in New York’s Rockefeller Center this week. This combines with the coverage the Financial Times is giving pop-up stores in the Hampton’s to show a new strategy is being implemented.  Smaller stores in higher-traffic, more focused markets for luxury brands.

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