So, I was away for the weekend. A couple of things that made me unhappy on the plane ride back:
Versace to close stores, will review strategy
I thought this comment was rather interesting:
“Tokyo is losing its prestige,” said Naoki Iizuka, a senior economist at Mizuho Securities Co. in Tokyo. Luxury goods makers see less need to sell their products in Tokyo with the increasing importance of Singapore and Hong Kong as financial centers, he said.
I’m not sure if I really see the link here, but I’ll probably think about it a little bit more when I find some time to.
I… don’t have anything to say about this. It’s just something you should know.
Yohji Yamamoto files for Bankruptcy
The economy is being blamed for the financial situation. Japan’s luxury market appears to be less robust lately, especially in light of the recent announcement by Versace that it is closing its Japan boutiques.