Expansion costs hit H&M earnings

STOCKHOLM (Reuters) - Hennes & Mauritz , the world's No.2 fashion retailer, posted an unexpected drop in quarterly earnings, hit by competition in tough European markets and the cost of its expansion drive to take on bigger rival Inditex.

The Swedish group does the bulk of its business in Europe, where the region's debt crisis and rising unemployment have dampened consumer spending.

At the same time, it has been making long-term investments in online shopping and new chains of stores, such as the recently-launched '& Other Stories,' in a bid to catch up with the broader offering of Spanish rival Inditex , which runs the Zara chain and a string of other brands.

'These long-term investments have created cost increases and to a great extent have not yet generated any revenue,' chief executive Karl-Johan Persson said on Wednesday.

'However, we consider these investments to be both necessary and wise as they aim to secure future expansion and profits and thereby further strengthen H&M's position,' he added.

Pretax earnings in the September-November period fell to 6.6 billion Swedish crowns ($1.0 billion) from a year-earlier 6.8 billion, hit also by a strong crown. Analysts had on average forecast an unchanged profit.

WEAK SALES

H&M said a tough economic backdrop led to widespread price promotions and markdowns in the fashion industry, although its own level of markdowns in relation to sales was the same as in the fourth quarter of the year before.

Stocks were somewhat higher than planned at the end of the period, although the group said markdowns in the first quarter would also be around the same level as the year earlier.

Bernstein analysts said this would be a challenge, particularly given the likely disruption to sales from snow.

'These are disappointing results, as management continues to step up investment in both the product and longer term initiatives, yet sales performance has not rebounded,' they said.

H&M predicted local-currency sales growth in January, the second month of its fiscal year, of 5 percent, the weakest figure since October, due to cold weather.

Its shares were down 2.8 percent to 228.5 crowns by 0945 GMT, within a European retail index <.sxrp> down 0.2 percent.

H&M, present in 48 markets, said it would open a net 325 stores this year, with most planned in China and the United States. It would also launch online sales in the United States.

It saw expansion opportunities in big European markets like Russia, Germany, Britain, Italy, Poland and France as well.

'For the medium term, they're trying to develop more brands, they're entering five new countries this year, they're laying down 12 percent more space ... So in terms of their own strategy, I actually think that they are sticking to it, and it makes long-term sense,' said UBS analyst Adam Cochrane.

H&M said its gross profit margin, which disappointed in the third quarter, shrank to 61.6 percent from 61.9 percent, matching forecasts. It proposed an unchanged dividend, as expected, of 9.50 crowns per share.

($1 = 6.3815 Swedish crowns)

(Reporting by Anna Ringstrom. Editing by Patrick Lannin and Mark Potter)



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Gaultier gives Paris fashion Gypsies, Valentino goes Renaissance

PARIS (Reuters) - Jean Paul Gaultier chose swirling translucent veils, the sound of sitars, and the insouciance of Gypsy culture for his haute couture show on Tuesday, while Valentino opted for an ethereal yet decorative look that evoked the bloom of the Renaissance.

The Spring 2013 collections presented on Wednesday by the two design houses, one French and one Italian, found inspiration from different epochs and parts of the globe, pointing to the diversity seen during Paris Fashion Week, the creme de la creme of the global fashion industry.

Gaultier, often labeled the bad boy of French fashion, turned eastward to India for inspiration, transporting his audience to Rajasthan, with sinewy models sporting oversized earrings and billowy veils in periwinkle, tangerine and pink.

Valentino - under new owners the Qatari royal family and with the designing duo of Maria Grazie Chiuri and Pierpaolo Piccioli at the helm - presented a more sober but no less theatrical vision. Gowns that a 15th century queen would have been proud of featured patterns that brought to mind iron grillwork in a formal garden.

This range of options for women willing to shell out thousands of dollars for a made-to-order haute couture outfit help prop up the global women's luxury apparel market, estimated at 27 billion euros ($35 billion) and growing, according to consultancy Bain & Company.

Only a small number of houses such as Christian Dior, Chanel and Giorgio Armani are allowed to exhibit haute couture in Paris, where manufacturing is carefully regulated and work must be sewn by hand in order to be considered haute couture.

At Gaultier, majority owned by Spanish family luxury group Puig, some expected an elephant as the grand finale, but instead a delightful Mother Goose moment saw an elaborately decorated bride flipping up her voluminous skirt to reveal four little children who scampered down the runway to applause.

Backstage, Gaultier said it was not the first time he had been influenced by India, but this time he evoked the Gypsies, a migratory people whose centuries-old ancestral home is India.

'It's glimmering, it's incredible the colors that you see, it's superb,' he told reporters, speaking of Rajasthan. 'I tried to recreate a bit of that, but more the Gypsy side, rather than the Maharaja side. It's more like couture Gypsies.'

The audience - which included French film star Catherine Deneuve and actress Rossy de Palma, a muse of Spanish director Pedro Almodovar - began furiously snapping photos at the appearance of a black form-fitting gown with an exposed brassiere whose diaphanous hot pink veil added a jolt of color.

Bold stripes, tight pleating and even fringe figured prominently in the collection, where a dose of colorful patchwork offered a fresh, devil-may-care attitude.

Gaultier said the patchwork was hard to recreate, but offered a fashion tip to anyone with scissors.

'In the time of economic crisis, those who are game, take your old clothes, cut them up and make patchwork! It's a new outfit!'

BORROWED FROM BOTTICELLI

The liner notes for Valentino's collection described it as 'sublime art' and indeed, many of the looks could have been stolen from a Botticelli painting.

With founder Valentino Garavani, who retired in 2008, in the front row, guests admired the parade of ivory, black and carnal red dresses, where heavy embroidery reminiscent of armor nevertheless imparted a light, evanescent feel.

'We think that beauty lies in the armor, in the proportion,' Piccioli told Reuters. 'That comes from the Renaissance, the proportion of Italian master paintings.'

Silk piping wove its way across a translucent black cape covering a diaphanous white gown, the cape's swirls and geometric patterns evoking the ornamental gates to a garden.

High necklines and tight long sleeves evoked the gowns one sees adorning the marble tombs of many a deceased Renaissance-era queen, but Chiuri and Piccioli's work never felt old.

The decorative swirling pattern on some dresses evoked tapestries, while the sharp horizontal bodices of others recalled the Elizabethan-era.

Despite the many references to centuries gone by, the collection felt fresh and elegant. Backstage, a note to models summed up what the designers hoped to communicate: 'You are all beautiful. Be Light. Be Delicate.'

In an October 15 report, Bain forecast the worldwide luxury industry would bring in estimated revenues of 212 billion euros ($281.56 billion) in 2012, of which women's apparel would be a 27 billion euro slice.

(Reporting By Alexandria Sage; Editing by Paul Casciato and Jon Hemming)

Gaultier offers "couture Gypsies" for Paris fashion week

PARIS (Reuters) - Swirling translucent veils, the sound of sitars, and the care-free insouciance of Gypsy culture enveloped the Jean Paul Gaultier runway on Wednesday, as the French fashion designer turned eastward to India for inspiration.

The Gaultier label, which is majority owned by Spanish family luxury group Puig, is one of the fashion world's top brands and the designer's shows for the exclusive haute couture week provide key creative inspiration for a wider women's luxury apparel market estimated to be worth $35 billion.

The Paris fashion set found itself transported to Rajasthan for Gaultier's Spring 2013 Haute Couture show, where sinewy models sporting oversized earrings and billowy veils in periwinkle, tangerine and pink took to the catwalk.

One half of the audience expected an elephant to follow as the grand finale, but instead Gaultier offered a delightful Mother Goose moment as an elaborately decorated bride flipped up her voluminous skirt, revealing four little children who scampered down the runway to applause.

Backstage, Gaultier said it was not the first time he had been influenced by India, but this time his collection recalled the Gypsies, a migratory people whose centuries-old ancestral home is India.

'This time I told myself I'm going to do it in another way. The real Gypsies were Indian Gypsies, after that they left,' he told reporters.

'It's glimmering, it's incredible the colors that you see, it's superb,' he added, speaking of Rajasthan. 'I tried to recreate a bit of that, but more the Gypsy side, rather than the Maharaja side. It's more like couture Gypsies.'

Haute couture is the creme de la creme of the fashion industry, where made-to-order gowns costing tens of thousands of dollars are meticulously constructed by hand.

Only a small number of labels such as Christian Dior, Chanel and Giorgio Armani are allowed to exhibit haute couture in Paris, which is carefully regulated.

Global consulting firm Bain & Company forecast in an October 15 report that the worldwide luxury industry would bring in estimated revenues of 212 billion euros ($281.56 billion) in 2012 of which women's apparel would be a 27 billion euro slice.

Always lighthearted, Gaultier seated the audience - which included French film star Catherine Deneuve and actress Rossy de Palma, a muse of Spanish director Pedro Almodovar - in sections named after Indian dishes such as Biryani.

Guests gasped and began furiously snapping photos at the appearance of a black form-fitting gown with an exposed brassiere whose diaphanous hot pink veil added a jolt of color.

Gaultier played with the idea of the exposed conical bra, a signature look he created for Madonna in the 1980s, in an elegant deep purple gown in which both breasts were barely covered with sheer silk mousseline fabric.

Bold stripes, tight pleating and even fringe figured prominently in the collection, where a dose of colorful patchwork offered a fresh, devil-may-care attitude.

Gaultier said the patchwork was harder than it looked to recreate for haute couture, but the designer offered up a fashion tip to anyone with scissors who is on a budget.

'In the time of economic crisis, those who are game, take your old clothes, cut them up and make patchwork! It's a new outfit!'

(Reporting By Alexandria Sage, editing by Paul Casciato)

Lagerfeld backs French gay marriage with Chanel catwalk finale

PARIS (Reuters) - Fashion designer Karl Lagerfeld sent two models dressed as brides alongside his tiny godson down the catwalk on Tuesday in a public show of support for French government plans to legalize same-sex marriage and adoption.

The models and Lagerfeld's four-year-old godson took the final bow at the German designer's Chanel haute couture show before Lagerfeld gave voice to his opinions on the subject in an interview with Reuters after the show.

'I do not understand why people who live together cannot have the same security as those bourgeois who are married,' said one of the fashion world's most successful designers, who is also renowned for his controversial comments on everything from politics to celebrity personalities.

'Two women getting married, I find that natural, and having two mothers is a good thing.'

The French government's proposals have divided opinion and sparked huge protests both in favor and against.

Earlier this month, roughly half a million people marched through Paris demanding that President Francois Hollande withdraw the reform bill and hold a national debate on the issue.

However, the government said it remained determined to submit the legislation to parliament and pass it by June.

Lagerfeld's show was held as usual in the cavernous Grand Palais, which was transformed into a gigantic forest with towering pine trees surrounding a wooden amphitheatre where models strutted in white sand.

The nature-inspired collection featuring embroidered tulle and sequined flowers echoed the garden-themed show presented on Monday by Belgian designer Raf Simons for Christian Dior.

Tulips, roses, camellias and birds of paradise took centre stage at Chanel, embroidered on sequined tulle dresses which took more than 1,000 hours to make, Lagerfeld said.

Models paraded in long-lace boots with open toes and shiny heels that gave their silhouettes a romantic and modern touch.

'As nature is threatened, might as well celebrate it,' Lagerfeld said.

MABILLE AND ROLLAND

On Monday evening, Alexis Mabille, who presented his first collection as a full-fledged member of Parisian haute couture, opted for evening gowns in sorbet colors, crafted with intricate embroidery, delicate lace and clouds of tulle.

Striking pieces included a retro 1940s style siren-shaped scarlet dress and black tuxedo outfit with a thigh-high slit that seemed designed for entertainer Dita Von Teese, who was sitting on the front row.

Later on Tuesday, French designer Stephane Rolland, known for his Parisian workshop's couture dresses, said he was branching out into ready-to-wear with a first boutique in Abu Dhabi scheduled to open end-March.

The designer, whose sculptural wares are favored by Middle Eastern women, said he planned to open other boutiques in the region as well as in London and in China. Rolland declined to give a precise timeline for the other boutiques nor reveal the identity of the business partner.

Asked if the partner was French, Rolland told Reuters: 'There are no French financiers (for fashion), they do not exist anymore.'

Rolland, who dresses the glamorous wife of the emir of Qatar, Sheikha Mozah bint Nasser, worked until last year to help the secretive Qatar Luxury Group create a luxury brand from scratch.

The launch of the brand, to be called Qela, was initially planned to coincide with Qatar's first fashion week in March last year but was postponed several times.

The group made its first acquisition in 2011 with Paris-listed French accessories brand Le Tanneur for 26 million euros ($34.62 million) and said on its website it remains on the lookout for acquisitions.

Rolland presented a sculptural black and white collection with a 1970s James Bond-themed edge dominated by long flowing capes and see-through, sequined trains.

At the Palais de Tokyo modern art museum in Paris, models strutted on silver platforms wearing close-fitting silk-crepe backless dresses with emerald crystal embroidery and sash-dresses with ostrich feathers or organza embroidery.

Rolland concluded his show by sending 82-year old model Carmen Dell'Orefice down the catwalk in an ivory white tuxedo ornamented with white corals and an oversize flowing cape.

($1 = 0.7510 euros)

(Additional reporting by Elena Berton, editing by Paul Casciato)

Michelle Obama again picks designer Wu for inaugural gown

WASHINGTON (Reuters) - It was one of the biggest questions of Monday's inaugural celebrations: not what would President Barack Obama say, but what would his wife, Michelle Obama, wear?

The first lady cemented her reputation as an international style trend-setter with her choice of a Jason Wu red sleeveless ball gown in the evening, and a striking business-style blue navy coat and dress for the ceremonial daytime events.

It was a huge win for U.S. designer Wu making one of his ball gowns her choice for a second straight inauguration.

The first lady appeared for her first dance of the night with the president at the Commander-in-Chief's Ball for U.S. service members in a ruby-colored chiffon and full-length velvet gown custom made by the New York-based designer.

Her shoes were from the London-based Malaysian-Chinese designer Jimmy Choo, and she wore a diamond-embellished ring handmade by jeweler Kimberly McDonald of New York.

Michelle Obama helped make Wu a household name by choosing a white chiffon gown he designed for the balls celebrating her husband's first inauguration in 2009. Wu, now 30, has since had significant commercial success, but his creations in the two inaugurations has won him a place in U.S. fashion history.

Dressing the first lady, a Harvard-trained lawyer known for her style, can be a huge boost for a fashion designer or retail chain.

Praised for wearing high-end designers as well as pieces from mass-market stores, the first lady has won over fashion critics in her four years in the White House.

'Icon's a big word and it sometimes gets over used, but I think if we're going to use it, we can use it now,' said Steven Kolb, chief executive of the Council of Fashion Designers of America, adding, 'What makes her a real icon is the work that she does and the woman that she is.'

Dresses, sweaters, shoes and belts she has worn have sold out at retailers from designer showrooms to mass market chains including Gap Inc., J. Crew and Target Corp., for which Wu has designed low-priced fashions.

Earlier on Monday, the first lady wore a navy coat and dress by designer Thom Browne, inspired by the fabric of a man's silk tie.

Her belt and gloves were from J.Crew, a chain that is a fixture in U.S. shopping malls; the necklace and earrings were designed by Cathy Waterman. The suede boots were by Reed Krakoff, as was the short blue cardigan she wore to a celebratory lunch in the Capitol.

BIG-TICKET INDUSTRY

Best known for men's clothing, Browne boasts a string of design awards, most recently, a prestigious National Design Award for fashion from the Cooper-Hewitt National Design Museum in New York, which is part of the Smithsonian Institution.

'She likes well-tailored clothes, so the inspiration was doing something that looked tailored and structured and fitted through the body and somewhat A-line for the skirt and the dress,' Browne told the Los Angeles Times.

Style mavens credit the 49-year-old first lady with changing the way American women put together their outfits, and, by patronizing U.S. designers, bolstering a multibillion-dollar industry.

A 2010 study from New York University's Stern School of Business found that a single appearance by the first lady can generate $14 million in value for a company.

Famed for her toned arms, Obama set a trend for sleeveless tops. Her cardigans and belted dresses have prompted many working women to switch from blazers and suits in the workplace.

'Michelle looks good however, wherever, whatever she does. Michelle looks good in her sleeping gown,' said Sharon Johnson, a therapist who came from Baltimore to watch the inauguration, and joked that she is still looking for the green leather gloves Obama wore on Inauguration Day four years ago.

'Her beauty is so far inside, and shines so far outside,' Johnson said.

When Michelle Obama held the Bible for her husband during his official swearing-in on Sunday, she wore a dark blue dress by Reed Krakoff, the creative director for the Coach leather goods company, who has become a fashion designer.

On Sunday night, she wore a sleeveless black sequined dress by Michael Kors to an inaugural reception for supporters.

At that reception, President Obama weighed in on what he termed the most 'significant' event of the inaugural weekend, his wife's hotly discussed new hairstyle.

'I love her bangs,' Obama said. 'She looks good. She always looks good.'

Interest in Michelle Obama's clothing has extended to the outfits worn by her two daughters. On Monday, the White House said Malia, 14, was wearing a J.Crew ensemble and Sasha, 11, wore a Kate Spade coat and dress.

Obama is a far bigger influence on U.S. fashion than most of her predecessors. Laura Bush favored suits by Oscar de la Renta and Hillary Clinton, the U.S. Secretary of State, is best known for wearing a range of brightly colored pants suits.

Even stylish Jackie Kennedy wore mostly European designers.

Obama's fashion choices have not always been applauded. Some Americans were angry when she wore a red gown from a British label - Alexander McQueen - to a 2011 state dinner for China's president.

Kolb dismissed such concerns, noting that fashion is a global business and that U.S. designers are thrilled when, for example, Kate Middleton, the wife of Britain's Prince of Wales, wears their clothing.

'At the end of the day, we get up in the morning and we look in our closet and we have to feel good about what we put on,' he said.

At the end of the inaugural festivities, Michelle Obama's outfits and accompanying accessories will go to the National Archives.

(Additional reporting by Jeff Mason, Steve Holland and Alina Selyukh; Editing by Alistair Bell and Christopher Wilson)

Thom Browne, J. Crew among Michelle Obama's inaugural fashion picks

WASHINGTON (Reuters) - It was one of the biggest questions of Monday's inaugural ceremonies: not what would President Barack Obama say, but what would his wife, Michelle Obama, wear?

The first lady wore a navy coat and dress by designer Thom Browne, inspired by the fabric of a man's silk tie.

The belt and gloves were from J.Crew, a mid-priced chain that is a fixture in U.S. shopping malls; the necklace and earrings were designed by Cathy Waterman. The boots were by Reed Krakoff, as was the short blue cardigan she wore to the celebratory lunch in the Capitol hosted by congressional leaders.

'At the end of the inaugural festivities, the outfit and accompanying accessories will go to the National Archives,' the first lady's office said.

Dressing any first lady, especially Obama, a Harvard-trained lawyer known for her style, can be a huge boost for a fashion designer or retail chain.

The White House did not divulge who crafted the gown she will wear to Monday night's inaugural balls, but the designer could see a lot of new attention. Her choice of a white chiffon Jason Wu gown for the inaugural balls in 2009 helped make the young designer a household name.

Thom Browne boasts a string of design awards, most recently, a prestigious National Design Award for fashion from the Cooper-Hewitt National Design Museum in New York, which is part of the Smithsonian Institution.

'She likes well-tailored clothes, so the inspiration was doing something that looked tailored and structured and fitted through the body and somewhat A-line for the skirt and the dress,' Browne told the Los Angeles Times, adding that he picked blue because he had guessed that President Obama would wear that color.

Praised for wearing high-end designers as well as pieces from mass-market stores, the first lady has established herself as an international style trend-setter during Barack Obama's first four years in the White House.

Dresses, sweaters, shoes and belts she has worn have sold out at retailers from designer showrooms to mass market chains including Gap Inc., J. Crew and Target Corp..

Style mavens credit the 49-year-old first lady with changing the way American women put together their outfits, and, by patronizing U.S. designers, bolstering a multibillion-dollar industry.

Famed for her toned arms, Obama set a trend for sleeveless tops. Her cardigans and belted dresses have prompted many working women to switch from blazers and suits in the workplace.

NEW HAIRSTYLE, A 'SIGNIFICANT' EVENT

'Icon's a big word and it sometimes gets over used, but I think if we're going to use it, we can use it now,' said Steven Kolb, chief executive of the Council of Fashion Designers of America, adding, 'What makes her a real icon is the work that she does and the woman that she is.'

'Michelle looks good however, wherever, whatever she does. Michelle looks good in her sleeping gown,' said Sharon Johnson, a therapist who came from Baltimore to watch the inauguration, and joked that she is still looking for the green leather gloves Obama wore on Inauguration Day four years ago.

'Her beauty is so far inside, and shines so far outside,' Johnson said.

When Michelle Obama held the Bible for her husband during his official swearing-in on Sunday, she wore a dark blue dress by Reed Krakoff, the creative director for the Coach leather goods company, who has become a fashion designer.

On Sunday night, she wore a sleeveless black sequined dress by Michael Kors to an inaugural reception for supporters.

At that reception, President Obama weighed in on what he termed the most 'significant' event of the inaugural weekend, his wife's hotly discussed new hairstyle.

'I love her bangs,' Obama said. 'She looks good. She always looks good.'

Interest in Michelle Obama's clothing has extended to the outfits worn by her two daughters. On Monday, the White House said Malia, 14, was wearing a J.Crew ensemble and Sasha, 11, wore a Kate Spade coat and dress.

Obama is a far bigger influence on U.S. fashion than most of her predecessors. Laura Bush favored suits by Oscar de la Renta and Hillary Clinton - now the U.S. Secretary of State - is best known for wearing a range of brightly colored pants suits. Even stylish Jackie Kennedy wore mostly European designers.

Obama's fashion choices have not always been applauded. Some Americans were angry when she wore a red gown from a British label - Alexander McQueen - to a 2011 state dinner for China's president.

Kolb dismissed such concerns, noting that fashion is a global business and that U.S. designers are thrilled when, for example, Kate Middleton, the wife of Britain's Prince of Wales, wears their clothing.

'At the end of the day, we get up in the morning and we look in our closet and we have to feel good about what we put on,' he said.

(Additional reporting by Jeff Mason, Steve Holland and Alina Selyukh; Editing by Fred Barbash and Jackie Frank)

Michelle Obama's inaugural fashion: Thom Brown, J. Crew

WASHINGTON (Reuters) - U.S. first lady Michelle Obama chose a Thom Browne coat and dress for President Barack Obama's inauguration events on Monday.

The fabric of the navy blue coat and dress was developed based on the style of a man's silk tie, according to the first lady's office.

Her belt is from J. Crew and she wore a necklace designed by Cathy Waterman. She also wore J. Crew shoes.

'At the end of the inaugural festivities, the outfit and accompanying accessories will go to the National Archives,' the first lady's office said.

Obama's older daughter, Malia, was wearing a J.Crew ensemble while his younger one, Sasha, was wearing a Kate Spade coat and dress.

(Reporting By Steve Holland; Editing by Sandra Maler)

China's metrosexual men revive luxury shopping

HONG KONG/MACAU (Reuters) - Let's hear it for the boys. China's fashion-forward men are snapping up Gucci and Burberry bags, driving a rebound in the luxury market months after a slow down in spending by the world's biggest luxury goods buyers spooked global investors.

Men account for about 55 percent of China's luxury goods market, well above the global average of 40 percent, according to research from brokerage CLSA, partly because businessmen often buy expensive gifts to curry favor with government officials or potential associates.

Companies such as Burberry Group Plc which sell luxe clothing and accessories benefit from this gift-giving culture, and wealthy Chinese men's penchant for designer ware.

But they are also at risk of big sales swings because men are less likely than women to splurge on discretionary purchases in times of economic uncertainty, CLSA's research shows.

'Men are not prone to impulse shopping,' said Mariana Kou, CLSA's consumer and gaming analyst in Hong Kong. 'They tend to wait a little if the economy is pretty uncertain.'

Chinese shoppers account for one-fourth of all luxury purchases globally and last year surpassed U.S. consumers to become the world's top spenders on luxury goods, according to consulting firm Bain & Co.

When China's economic growth slowed to a three-year low in the middle of last year, luxury demand dropped suddenly, sending shudders through a global market worth $280 billion last year according to Bain's estimates.

Burberry warned of weak sales in July and again in September, sparking fears of a sector-wide slump.

But as China's growth picked up to 7.9 percent in the fourth quarter after seven straight quarters of slowdown, sales rebounded. Burberry said last week its Asia-Pacific sales rose 15 percent in the three months to December, led by China and Hong Kong, while its European business was flat and the Americas up just 2 percent.

Sales of men's clothing were up more than 50 percent over the final three months of 2012, Burberry said, and men's accessories such as handbags rose nearly 40 percent.

'We remain very confident about the growth prospects for the China market generally,' Burberry's Chief Financial Officer Stacey Cartwright said after the quarterly data was announced.

'Specifically quarter by quarter it's always difficult to call. We are encouraged by the rebound that we've seen in this quarter,' she added.

HEY BIG SPENDER

Burberry's bounce-back lifted the shares of its high-end peers. The Dow Jones luxury index rose 2.1 percent last week and is up 6 percent so far this year, double the 3 percent rise in the broader MSCI world equity index in 2013. China's economic revival may help lift the sector further.

Just last week, customers toting paper bags bearing the logos of Louis Vuitton, Hermes, Gucci, Prada and other global luxury brands were out in force at malls in Hong Kong and Macau, two nearby destinations for wealthy mainland Chinese shoppers.

Personal assistant Da Fei trailed behind his boss, a real estate businessman from Mongolia, carrying items from Hermes and Kenzo through the upscale One Central Macau shopping center in China's gambling capital.

'He likes to buy everything, particularly Hermes and Gucci,' Da Fei said as his boss, decked out in salmon pink trousers and a black and white shirt, browsed inside a Kenzo store.

At the Gucci store in Macau's Wynn casino, four men clustered around a glass counter examining leather wallets, while seven other men browsed items such as the 6,000 patacas ($750) shoulder bags. Only two women were in the shop at the same time, while other customers queued up outside, waiting for security guards to let them in.

PARTY ON POST-CONGRESS

Luxury looks like it could stay strong through the first quarter, largely due to the Chinese New Year celebrations in February and then the National People's Congress in March, where government positions will be confirmed - and gifts bestowed.

Data from Hong Kong, a popular shopping destination for wealthy mainland Chinese, shows retail sales are starting to perk up. They jumped 9.5 percent on the year in November, with jewelry, watches and other valuables up 13.7 percent after a 2.9 percent decline in October.

About 3 million mainland Chinese visited Hong Kong in November, up 30 percent from a year earlier, according to the tourism board. Macau's numbers paled by comparison, with a 3 percent rise to 1.5 million mainland visitors for the month.

But with Beijing cracking down on corruption, retail watchers caution that China may not deliver the explosive growth that made it a vital market for luxury brands after the global financial crisis in 2008.

Chinese buyers backed away from buying bling before the once-a-decade Party Congress in October, when new leadership was announced, so the strong November figures from Hong Kong may reflect a burst of pent-up demand.

Sales of watches and pricey liquor took the biggest hit after the corruption crackdown, according to a survey from the Hurun Report, known for its annual China Rich List.

Consumers are also becoming more choosy and sophisticated, preferring more inconspicuous luxury goods to logo-centric names such as Louis Vuitton.

But with 1.3 billion consumers, many with a strong inclination for expensive brands that scream status, China remains a driving force in the luxury market.

'The intention to purchase is very high right across the board, from Coach to Bottega Veneta,' said Shanghai-based author Paul French, chief China market strategist at Mintel, which specializes in Chinese consumer trends.

'I think the only reason there was a dip was because the gifting market, the corruption market was of course weak last year because you didn't know who to buy for.'

(Additional reporting by James Davey in LONDON; Writing by Emily Kaiser; Editing by Miral Fahmy)

Designer John Galliano starts comeback at de la Renta

NEW YORK (Reuters) - Disgraced fashion designer John Galliano is making his return to the industry with a temporary residency at Oscar de la Renta's studio in New York, de la Renta said on Friday.

The British designer, who was fired by Dior in 2011 after he was caught on camera making anti-Semitic remarks in a Paris cafe, will spend the next three weeks with de la Renta as he prepares for his forthcoming New York Fashion Week show.

'He has worked long and hard on his recovery, and I'm happy to give him the opportunity to reimmerse himself in the world of fashion and reacclimate in an environment where he has been so creative,' de la Renta said in a statement confirming Galliano's stint.

De la Renta added that he had known Galliano for years and said 'I'm a great admirer of his talent.'

Galliano, 52, said an addiction to drugs and alcohol had left him out of control and he was determined to make amends.

Galliano's sudden departure from the star position at one of the multibillion-dollar global fashion world's most recognized labels shook the industry and left LVMH, Dior's owner and a leading international luxury goods conglomerate, without a creative leader at its top couture brand for months.

Dior's new lead designer, Raf Simons, presented his first ready-to-wear collection last September.

A French court handed out a 6,000-euro ($8,000) suspended fine to Galliano in 2011 after he was found guilty of anti-Semitic behavior.

In a statement issued on Friday, Galliano said he has been in recovery from alcoholism for the past two years, but that several years before 'I descended into the madness of the disease. I said and did things which hurt others, especially members of the Jewish community.'

He added that he was 'committed to making amends to those I have hurt. I am grateful to Oscar beyond words for inviting me to spend time with him in the familiar surroundings of a design studio. His support and faith in me is humbling.'

Since his Dior dismissal, Galliano has designed British model Kate Moss's wedding dress and was mooted as the new creative director of the relaunched fashion label Schiaparelli in rumors that were quickly dismissed, Vogue magazine reported.

Galliano is widely thought of as one of the most talented and creative names in fashion. His shows for his eponymous label and Dior were known for their drama and theatrical beauty.

'PRINCE OF REMANTIC GLAMOUR'

Fashion world figures expressed support for Galliano's return, with Vogue editor Alexandra Shulman saying 'This is terrific' on Twitter.

'Oscar de la Renta is the king of uptown style and John Galliano the prince of romantic glamour, so it should be a magical match,' she told Vogue.

Marie Claire Nina Garcia, who is also a judge on the popular television competition 'Project Runway,' said 'Welcome to New York John Galliano!!!!!' in a Twitter posting.

The Anti-Defamation League, which monitors and fights anti-Semitism, also welcomed the move, citing Galliano's 'demonstrated effort to learn from his remarks about Jews, Hitler and the Holocaust.'

'We believe that individuals can change their hearts and minds as long as they demonstrate true contrition,' said the group's national director, Abraham Foxman, in a statement posted on its website.

'Mr. Galliano has worked arduously in changing his worldview and dedicated a significant amount of time to researching, reading, and learning about the evils of anti-Semitism and bigotry.'

Foxman said Galliano had met with the group many times, and added: 'We wish him much success and look forward to working with him again in the near future as a spokesman against anti-Semitism, intolerance and bigotry.'

($1 = 0.7486 euros)

(Additional reporting by Paul Casciato and Phil Wahba; editing by Mark Heinrich)

Fashion designer John Galliano starts comeback: Vogue

LONDON (Reuters) - Disgraced fashion designer John Galliano is making his return to the industry with a temporary residency at Oscar de la Renta's studio in New York, Vogue magazine reported on Friday.

The British designer, who was fired by Dior in 2011 after he was caught on camera making anti-Semitic remarks in a Paris cafe, will spend the next three weeks with de la Renta as he prepares for his forthcoming New York Fashion Week show, a report on vogue.co.uk said.

'John and I have known each other for many years and I am a great admirer of his talent,' de la Renta was quoted by Vogue as saying.

Galliano's sudden departure from the star position at one of the multi-billion dollar global fashion world's most recognized labels shook the industry and left LVMH, Dior's owner and a leading international luxury goods conglomerate, without a creative leader at its top couture brand for months.

Dior's new lead designer, Raf Simons, presented his first ready-to-wear collection in September 2012.

A French court handed out a 6,000-euro ($8,000) suspended fine to Galliano in 2011 after he was found guilty of anti-Semitic behavior. Galliano said an addiction to drugs and drink had left him out of control.

'He has worked long and hard on his recovery and I am happy to give him the opportunity to reimmerse himself in the world of fashion and reacclimate in an environment where he has been so creative,' de la Renta told Vogue.

Since his Dior dismissal, Galliano, 52, has designed British model Kate Moss's wedding dress and was mooted as the new creative director of the relaunched fashion label Schiaparelli in rumors that were quickly dismissed, Vogue reported.

Galliano is widely thought of as one of the most talented and creative names in fashion. His shows for his eponymous label and Dior were known for their drama and theatrical beauty.

'I am grateful to Oscar beyond words for inviting me to spend time with him in the familiar surroundings of a design studio,' Galliano was quoted as saying by Vogue. 'His support and faith in me is humbling.'

Vogue editor Alexandra Shulman said she was also 'delighted' by the news.

'Oscar de la Renta is the king of uptown style and John Galliano the prince of romantic glamour, so it should be a magical match,' she told Vogue. 'I am delighted John's returning to fashion.'

($1 = 0.7486 euros)

(Reporting by Paul Casciato, editing by Mark Heinrich)



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Menswear gets quirky detailing at Milan autumn/winter shows

MILAN (Reuters) - Men's tailored suits took on eccentric furs, ruby pins and touches of neoprene as designers mixed traditional styles with quirkiness at Milan's autumn/winter fashion shows.

From Giorgio Armani to Prada, fashion houses offered large-shouldered coats, rubber-soled shoes and pleated trousers at presentations which ended on Tuesday.

'It is not easy to reinvent menswear tradition. There are different ways of being classic,' Armani told reporters after his show, where Taiwan-born violinist Ray Chen performed.

Ermenegildo Zegna used sophisticated fabrics such as carded silk and cropped deerskin for a sporty collection of double-breasted suits and turtleneck knitwear, aimed at wealthy travelers wanting to dress comfortably.

Armani and Gucci also mixed classic looks and colors as Italian designers looked to persuade shoppers to make room in their wardrobes for garments tailored to their personality.

Orders of Italian menswear for the 2013 spring/summer season have fallen 8 percent despite demand from China, Italy's textile and fashion body Sistema Moda Italia (SMI) said in a report.

Prada offered young globetrotters straight sweaters and fitting trousers in a variety of blue, red and yellow.

'One thing is nostalgia and another is knowledge of the past,' Miuccia Prada told reporters after her show, whose display space was turned into an urban loft adorned with Knoll furniture.

CHINA BOOST

Informal lines inspired Fendi, which created oversized fur coats and rubber-soled shoes while British luxury brand Burberry presented its traditional raincoats in a new range of materials and colors.

Burberry on Tuesday reported forecast-beating revenue growth in the three months to end-December, helped by strong Chinese demand in the run-up to Christmas.

A rebound in China also boosted fourth-quarter sales at Salvatore Ferragamo, Chief Executive Michele Norsa told reporters on Sunday.

If most designers including PPR's Gucci preferred clean cuts for their collections, fashion houses Versace, Dolce & Gabbana and Roberto Cavalli celebrated eccentric glamour.

On the top floor of a building turned into a gentlemen's club, Cavalli and his son Daniele presented sequined tuxedos, embroidered slippers and collections of bow-ties and animal-print cuff-links.

Dolce & Gabbana printed images of Madonnas and flowery motifs on garments, while designer Donatella Versace challenged men with laced lingerie worn under tuxedo jackets.

(Reporting by Antonella Ciancio; editing by Jason Neely)



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Olympic cauldron to NYC park up for design award

LONDON (Reuters) - Designs of everything from the London 2012 Olympic cauldron to a New York City park three decades in the making will compete for an annual award handed out by London's Design Museum.

The more than 90 nominations for the 2013 'Designs of the Year' encompass seven categories and span the globe from London's newest landmark building, The Shard by Renzo Piano, to a non-stick ketchup bottle invented by a research group at MIT (Massachusetts Institute of Technology), the museum said in a statement this week.

The award was won last year by Edward Barber and Jay Osgerby for their Olympic torch. This year, Thomas Heatherwick's Olympic cauldron was nominated alongside Microsoft's Windows phone 8, a basic computer for children, a Louis Vuitton collection designed by Yayoi Kusama and a 'Donky Bicycle' for carrying heavy loads among other useful and unusual designs.

The seven categories are architecture, digital, fashion, furniture, graphics, product and transport. The designs will be on display at the Design Museum from March 20 until July 7.

Architect Louis Kahn's Four Freedoms Park in New York, which was finally completed at the end of 2012, will compete with Zaha Hadid's Galaxy Soho in Beijing, and the Windows phone 8 will test its design mettle against the Raspberry Pi, a tiny and cheap computer for kids developed at Cambridge University.

The winners from each category and one overall winner will be announced in April.

(Reporting by Paul Casciato; editing by Patricia Reaney)



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Red-hot gowns sizzle on chilly night at Golden Globes

BEVERLY HILLS, California (Reuters) - The women of Hollywood turned to the boldest reds and the blackest blacks to evoke a bygone era of sultry sirens on the red carpet at Sunday's Golden Globe Awards for film and television.

'Poppy red,' a trend color for spring, was the tone chosen by stars like the night's award winners Jennifer Lawrence ('Silver Linings Playbook') and Claire Danes ('Homeland') along with Marion Cotillard, Zooey Deschanel and Jennifer Garner.

'Red is classic and celebrates Hollywood's heyday when all the most glamorous sirens often wore red,' said style expert and TV host Sam Saboura. 'It's regal and strong, but this new poppy hue for spring feels fresh, youthful and modern.'

With the unusually chilly California weather, Saboura said the blacks worn by Globe winners Julianne Moore ('Game Change'), Adele ('Skyfall') Salma Hayek, Julianna Margulies and Rachel Weisz 'felt right on this cold January night, not to mention elegant and chic.'

Contrasting with the reds was a smattering of pale colors, in what Entertainment Weekly's senior editor Bronwyn Barnes called the 'the fire and ice effect.' Those included Anne Hathaway's 'white hot' Chanel Haute Couture gown and the blush tones preferred by Amy Adams, Megan Fox and Hayden Panettiere.

'No matter what the color, practically every gown featured sparkling embellishments like crystals, sequins, beading and pailettes that created a glitter effect,' Barnes said.

Stylist Elshane, who goes by that single name and works with singers like Carly Rae Jepsen and comedienne Rebel Wilson, said the prevailing style on the red carpet was a romantic one. She described the looks as having a 'feminine innocence, nothing too revealing, but still body conscious in all the right places.

'It was refreshing to see romanticism without the tulle, ruffles and rushing that normally comes with it,' she said.

Although the Oscars will always be considered the biggest and most important night in red carpet fashion, churning out the most high-end designers on the biggest of A-listers in film, the Golden Globes are important in their own right. It is the first major award show of the new year and showcases designer gowns worn by both film and television stars.

WARM-UP FOR OSCARS

'The Golden Globes is the first (nationally broadcasted) red carpet of the awards season so it's the first time these actresses can make a statement and show their styles,' said Elshane. 'And this year, it was a great night for fashion. The stars really stepped it up this season and took a lot of risks.'

Additionally, the Oscars' more formal theater-style seating compared to the Globes' roundtable dinner set-up also influences the type of fashions that will be seen.

'The dress code, like the ceremony, is more relaxed, which is why we see everything from traditional couture gowns to edgier looks, such as Nicole Kidman's Alexander McQueen dress to shorter styles like those worn by Marion Cotillard and Thandie Newton,' said Barnes.

While the carpet was missing high-wattage fashion icons like last year's stars Angelina Jolie and Charlize Theron, Saboura said Lawrence might be the strongest contender to take this year's fashion crown.

'Jennifer is definitely fashion's new darling,' Saboura said. 'She came out wearing strong designers when she was first nominated for 'Winter's Bone (in 2010), but since her 'Hunger Games' debut, she's become the one to dress in young Hollywood.'

Saboura called Lawrence's Dior Haute Couture dress 'stunning' and felt it was refreshing to see the 22-year-old star wearing a gown from the prestigious fashion house. He credits the company's new designer, Raf Simmons, whose take on the label has resulted in 'a more youthful, modern collection.'

However, Saboura panned the soft jade green dress worn by Golden Globe winner Jessica Chastain ('Zero Dark Thirty'), despite it being another big color for spring 2013.

'The dress was ill-fitting and looked messy,' he said. 'It did nothing to showcase this beautiful and super-talented star.'

(Editing by Mary Milliken, Stacey Joyce and Christopher Wilson)



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Missoni stages subdued show, hoping missing boss is alive

MILAN (Reuters) - The Italian fashion house Missoni, whose co-owner and marketing head Vittorio Missoni went missing over a week ago off Venezuela, went ahead with a subdued autumn/winter show on Sunday.

'In this difficult moment for my family and our company, the firm must carry on its business,' Missoni's designer sister Angela said in an emailed statement.

Present backstage, she declined to meet media or make the customary end-of-show appearance on stage.

The plane carrying Missoni, 58, his partner Maurizia Castiglioni, another couple and two Venezuelan crew members disappeared after taking off from the resort of Los Roques, an archipelago off the coast of Venezuela, on January 4.

The family have been tweeting furiously over the past nine days, begging local and Italian authorities to continue searches and expressing confidence that those on the plane are still alive.

'I can only say that searches will continue in all possible directions until we find them,' Angela said.

The family-owned company's 2013 autumn/winter collection took inspiration from the colors of the north American landscape, reworking its often exuberant hallmark colored knits in a subdued palette of greys, anthracite, silvers and greens.

It's typical zig-zag patterns were turned into stripes inspired by North American motifs and wrapped around cardigans, fur stitch blazers and denim pieces.

Vittorio is co-owner of the firm with his siblings Luca and Angela, who respectively handle the technical and design sides of the firm, which has pioneered innovative knitting techniques since it was founded 60 years ago in Sumirago, a small town in northern Italy.

They took over managing the company from their parents Ottavio and Rosita in 1996, aiming to relaunch the brand for a larger, younger market as rivals Gucci and Burberry had done.

Under Vittorio's guidance as marketing head, Missoni has opened hotels in Edinburgh and Kuwait and launched the Missoni Home collection.

(Reporting By Antonella Ciancio; Editing by Kevin Liffey)



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Italian menswear shows open in gloom over Missoni and economy

MILAN (Reuters) - Concerns over the fate of fashion executive Vittorio Missoni and prospects for the economy weighed on the opening of Milan's menswear shows, where designers used all shades of grey for their austere 2013 autumn/winter collections.

The founder of menswear maker Corneliani kicked off the first show of the Milan fashion season on Saturday with a message for Missoni, whose plane disappeared off Venezuela a week ago.

'We want to show our solidarity to the Missoni family on the first day of the fashion week,' company founder Carlo Alberto Corneliani said on a loudspeaker before the event started.

A small twin-engine aircraft carrying Missoni, 58, his wife Maurizia Castiglioni, another couple and two Venezuelan crew went missing on January 4 after taking off from the Caribbean island resort of Los Roques.

The Missoni group, known for its exuberantly colored knits featuring bold stripes and zigzags, has decided to go ahead with its show on Sunday, but the family is unlikely to attend.

Media reported on Saturday that the location where the plane disappeared may have been found, but it was not possible to get an immediate comment from Italy's foreign ministry.

Italy's luxury goods industry is set to continue to outperform other sectors this year, according to analysts, helped by the appetite of wealthy Asian shoppers.

But prospects for the economy remain as gloomy as the cloudy skies under which hundreds of fashion critics and buyers rushed to watch the menswear proposals for next winter.

Orders of Italian menswear for the 2013 spring/summer season have fallen 8 percent, Italy's textile and fashion body Sistema Moda Italia (SMI) said.

Over half of domestic menswear manufacturers polled by SMI said they saw no sign of improvement this year, while the remaining 44 percent said they were preparing for deterioration.

FEET ON THE GROUND

An austere elegance reigned on the catwalks on Saturday, where designers like Dolce & Gabbana and Ermenegildo Zegna worked a grey palette for their collections.

Europe is still the biggest market for Italian menswear but sales fell 2.7 percent in France and up to 7 percent in Spain in the first nine months of 2012, SMI said.

'I thought of men who keep their feet on the ground, are rigorous, love clean cuts and precious sartorial details,' designer Anna Zegna told reporters in the backstage of the show.

Traditional coats in lightweight and soft 'spazzolino', the alpaca fabric launched by Zegna's Agnona brand in the Seventies, were worn over double-breasted suits.

Grey coats returned at glamorous Dolce & Gabbana, where Sicilian boys strutted the catwalk like professional models.

Coats found their natural home at British house Burberry, where creative head Christopher Bailey worked every possible material for his youthful collection.

The fashion houses streamed their shows online to entice a growing number of customers who shop on their smartphones.

Online websites and outlets are the only places in Italy where menswear sales have risen last year, according to SMI.

But this growing divide between virtual and real stores is forcing houses to reinvent their shops to lure back customers.

'The digital world is a very important tool, but it doesn't have to be idealized,' Burberry chief executive Angela Ahrendts told Reuters at the show. 'We are opening stores too,' she said.

The Milan shows, ending on Tuesday, will also include Versace, Armani, Gucci, Ferragamo, Fendi and Prada. ($1 = 0.7568 euros)

(Additional reporting by Victoria Bryan; Editing by Jason Webb and Rosalind Russell)



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Italian menswear shows open in gloom over economy and Missoni

MILAN (Reuters) - Milan's menswear fashion week started on Saturday amid concerns over the economy and also the fate of Vittorio Missoni, one of Italy's best-known clothes executives, whose plane disappeared off Venezuela a week ago.

Italy's luxury goods industry is set to continue to outperform other sectors this year, according to analysts, helped by the appetite of Asian shoppers for the country's tailored suits and leather shoes.

But prospects for the economy remain as gloomy as the cloudy skies under which hundreds of fashion critics and buyers rushed on Saturday to watch the menswear proposals for next winter.

Orders for the Italian menswear collections that will arrive in stores around the world this summer have fallen 8 percent, Italy's textile and fashion body Sistema Moda Italia (SMI) said.

Over half of domestic menswear manufacturers polled by SMI said they saw no sign of improvement this year, while the remaining 44 percent said they were preparing for deterioration.

The fashion world is also awaiting news about Missoni, eldest son of one of Italy's most famous fashion families.

A small twin-engine aircraft carrying Missoni, 58, his wife Maurizia Castiglioni, another couple and two Venezuelan crew went missing on January 4 after taking off from the Caribbean island resort of Los Roques.

The Missoni fashion house, known for its exuberantly colored knits featuring bold stripes and zigzags, said it had decided to go ahead with its show in Milan, although the family is unlikely to attend.

Media reported on Saturday that the location where the plane disappeared may have been found, but it was not possible to get an immediate comment from Italy's foreign ministry.

The Italian fashion chamber called reporters to retweet family members' requests to find Missoni and the others aboard.

CHEAP AND CHIC

Designers showing in Milan will need all their imagination to attract male customers flocking to e-commerce websites and outlets for quality bargains.

Domestic sales of Italian tailored clothes, silk ties and leather shoes fell 4.7 percent in 2012 for a fifth consecutive year, according to Italian textile and fashion body Sistema Moda Italia (SMI).

Only outlets and online sales bucked the trend, with a jump of 41 percent in sales to final customers during the 2011/12 winter season, according to SMI.

Big luxury names such as Zegna, Prada and Salvatore Ferragamo have boosted their digital ranges to entice younger customers who shop from smartphones.

'You have to ask yourself: 'Are our products suitable for selling on line?'' Hugo Boss Chief Financial Officer Mark Langer told Reuters in an interview on Friday.

'Amazingly, we've sold a lot more suits than we thought we would online,' Langer said.

Exports helped global sales of Italian menswear grow by 2 percent to 8.6 billion euros ($11.4 billion) in 2012 despite a sharp decline in domestic stores, SMI said.

Europe is still the biggest market for Italian menswear but sales fell 2.7 percent in France and up to 7 percent in Spain in the first nine months of 2012, SMI said.

The Milan show opens with menswear champion Ermenegildo Zegna, followed by Dolce & Gabbana, Burberry and Versace.

($1 = 0.7568 euros)

(Additional reporting by Victoria Bryan; Editing by Jason Webb)



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In quest for designer look, U.S. women admit buying knockoffs

NEW YORK (Reuters) - Even if they can't afford the real thing, many American women still strive for that designer look and have no problem buying knockoffs, or cheaper copies, according to a new survey released on Tuesday.

Three-quarters of women questioned in the poll admitted that they had knowingly purchased a counterfeit designer fashion item, and many said they had as many as five fake dresses, handbags, wallets, jewelry or pairs of shoes.

More than half bought knockoffs because they couldn't afford the designer label, while 37 percent wanted to impress their friends or family. But nine percent simply couldn't tell the difference.

'As demand for designer fashion and accessories has increased, so has the demand for knock off designer goods,' said Mark Pearson, the chairman of the website CouponCodes4u.com, which conducted the poll.

'While it may be satisfying for those consumers who can afford to purchase designer goods outright, many Americans are turning to knock off pieces to fit in, without the expensive price tag,' he added in a statement.

Handbags and wallets were the most popular items, with about a third of the 2,105 women questioned in the poll saying they had purchased them.

Nearly a quarter had bought a fake designer dress, and roughly 20 percent purchased knockoff jewelry or shoes.

Despite their appeal, Pearson said the quality of the fake items may not be as good, and added it is also illegal.

(Reporting by Patricia Reaney; Editing by Sandra Maler)



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Owner of Mandee, Annie Sez stores files for bankruptcy

(Reuters) - The owner of the 129 Mandee, Annie Sez and Afaze women's clothing stores filed for bankruptcy after Superstorm Sandy cut into the New Jersey-based company's sales and derailed its turnaround.

The company, Big M Inc, which caters to young women with its Mandee stores, was forced to close many locations for a week after Sandy cut through the New York City metropolitan area on October 29.

The company also placed blame for its bankruptcy filing on its insurer for not promptly paying its claims related to the storm, according to court documents.

New York and New Jersey are still recovering from one of the costliest U.S. storms and paying for the massive clean-up has become a hot-button political issue.

Big M launched a restructuring in 2011 of its operations, which have been hit by the sluggish U.S. economy. The company had closed approximately 27 stores, according to documents filed with the U.S. Bankruptcy Court in Newark, New Jersey.

To finance its bankruptcy, the company will ask for court approval to borrow up to $13.2 million from Salus Capital Partners.

Big M was founded by Leon, Max and Bernard Mandelbaum after their return from World War II. The company remains a family business.

The company anticipates gross revenues for the year to January 26 of approximately $192 million, according to court documents. It listed both assets and liabilities of between $50 million and $100 million in court records.

It employs 1,200 full-time and part-time employees.

The case is Big M Inc, U.S. Bankruptcy Court, District of New Jersey, No. 13-10233

(Reporting by Tom Hals in Wilmington, Delaware; Editing by Dan Grebler)



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Missoni family hopes missing fashion boss still alive

MILAN/LOS ROQUES, Venezuela (Reuters) - The family of missing Italian fashion boss Vittorio Missoni said on Monday they still believed he was alive, three days after his plane disappeared off the coast of Venezuela.

The small twin-engine aircraft carrying Missoni, 58, his wife Maurizia Castiglioni, another couple and two Venezuelan crew members went missing on Friday after taking off from the island resort of Los Roques.

'We are full of hope and confidence for the work that the authorities have done so far. We will not give up,' Missoni's sister Angela wrote in an emailed statement to the media.

'We believe Vittorio, Maurizia, Elda and Guido are still alive!' Angela also wrote on Twitter. 'Please help us find them and bring them back home.'

Missoni, a sports lover known for his informal looks and charming smile, is the oldest son of the founders of the fashion house famous for its exuberantly coloured knits featuring bold stripes and zigzags.

He is the firm's co-owner with siblings Luca and Angela, who handle the technical and design sides of the firm.

Luca Missoni, who is also a pilot, was flying over the area to help with the rescue effort together with Alberto Piantoni, chief executive of the fashion house, Angela said.

Venezuelan rescue divers were searching the aircraft's last determined location, while searches also continue on the ground.

Captain Raul Rivas, Coast Guard Commander in Los Roques, said the son of a jewelry designer and owner of an international hotel chain was also believed to be on board alongside Missoni, his wife and their friends Elda Scalvenzi and Guido Foresti.

The pilot of a Cessna 402 that took off a minute after the Britten Norman BN2 carrying Missoni said he saw the plane as it disappeared into a cloud.

'I saw them right in front of me as they were swallowed up by a huge cumulus cloud,' pilot Enrique Rada told Turin daily La Stampa in an interview published on Monday. 'It was a lightning bolt. It must have been a lightning bolt.'

However Rivas said the weather conditions were favorable when the aircraft disappeared.

'The sun was good at that moment and the atmospheric conditions couldn't have been a determining factor if the aircraft had a problem,' the captain said.

The company said it would go ahead with a Milan fashion show on January 13 but the family may not attend. Family-owned Missoni posted sales of 70 million euros ($91 million) in 2011.

($1 = 0.7666 euros)

(Reporting by Jennifer Clark and Antonella Ciancio in Milan; Additional reporting by Javier Andres Rojas in Los Roques and Andrew Cawthorne in Caracas; Editing by Tom Pfeiffer)



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Missoni family hold hope missing fashion boss still alive

MILAN (Reuters) - The family of Italian fashion executive Vittorio Missoni said on Monday they still believed he was alive, three days after his plane disappeared off the coast of Venezuela, and begged rescuers to find him.

The small twin-engine plane carrying Missoni, 58, his wife Maurizia Castiglioni, another couple and two Venezuelan crew members went missing on Friday after taking off from the resort of Los Roques, an archipelago off the coast of Venezuela.

'We believe Vittorio, Maurizia, Elda and Guido are still alive!' Missoni's sister Angela wrote on Twitter. 'Please help us find them and bring them back home.'

Italy's Foreign Ministry declined to comment on how the search for the missing plane was progressing.

Italian media have suggested Missoni, his wife and their friends Elda Scalvenzi and Guido Foresti may have been kidnapped.

The pilot of a Cessna 402 that took off exactly one minute after the Britten Norman BN2 carrying Missoni said he saw the plane disappear.

'I saw them right in front of me as they were swallowed up by a huge cumulus cloud,' pilot Enrique Rada told Turin daily La Stampa in an interview published on Monday. 'It was a lightning bolt. It must have been a lightning bolt.'

Rada told La Stampa he was contacted by the control tower advising him of the plane's disappearance shortly after he saw it enter the cloud. He said he tried to make radio contact with the plane's pilot, German Marchan, but could not do so.

Missoni is the oldest son of the founders of the fashion house famous for its exuberantly colored knits, featuring bold stripes and zigzags. He is co-owner with siblings Luca and Angela, who handle the technical and design sides of the firm.

A decision about whether Missoni will go ahead with its Milan fashion show January 13 during the upcoming menswear collections January 12-15 may be made today and will be made public as soon as possible, a Missoni spokeswoman said on Monday.

The fashion house posted sales of 70 million euros ($91 million) in 2011, making it one of Italy's smaller fashion houses. Gianni Versace, for example, had revenue of 340 million euros in 2011, and Giorgio Armani had 1.8 billion euros.

($1 = 0.7666 euros)

(Reporting by Jennifer Clark; Editing by Pravin Char)



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Venezuela searches for fashion boss Missoni's plane

CARACAS/MILAN (Reuters) - Venezuelan emergency services mounted a sea and air rescue mission on Saturday after a plane carrying fashion executive Vittorio Missoni went missing off the coast of Venezuela.

The plane carrying Missoni, 58, his wife, Maurizia Castiglioni, another couple and two Venezuelan crew members disappeared after taking off from the resort of Los Roques, an archipelago off the coast of Venezuela, Italian media said.

'It disappeared yesterday. They have been looking for it with helicopters and ships, but have not found anything yet. They are still searching for it this morning,' the Italian consul in Venezuela, Giovanni Davoli, told Reuters by phone.

Missoni is the oldest son of the founders of the fashion house famous for its exuberantly coloured knits, featuring bold stripes and zigzags. He is co-owner with siblings Luca and Angela, who handle the technical and design sides of the firm.

'The Missoni family has been informed by the Venezuelan consulate that Vittorio Missoni and his wife are missing, but we don't know any more,' said Missoni spokeswoman Maddalena Aspes.

Other members of the Missoni family are travelling back to Italy from a holiday in France, Aspes said.

Missoni and his siblings took over managing the company from their parents Ottavio and Rosita in 1996, aiming to relaunch the brand to a larger, younger market as rivals Gucci and Burberry have done. Under Vittorio's tenure, Missoni has opened hotels in Edinburgh and Kuwait and launched the Missoni Home collection.

By 2011, the brand's appeal was wide enough for U.S. mass-market retailer Target to ask it to design a collection.

The brand will celebrate its 60th anniversary this year.

(Reporting by Jennifer Clark and Andrew Cawthorne; Editing by Louise Ireland)



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Italian designer Missoni aboard plane missing near Venezuela

MILAN (Reuters) - Italian fashion designer Vittorio Missoni, head of the eponymous fashion house, was aboard a small plane that has disappeared off the coast of Venezuela, a company spokeswoman said on Saturday.

'The Missoni family has been informed by the Venezuelan consulate that Vittorio Missoni and his wife are missing, but we don't know any more,' said Maddalena Aspes. 'The authorities will resume their search for the plane in the morning.'

Italian media reported that the plane went missing on Friday morning after takeoff from the resort of Los Roques, an archipelago off the coast of Venezuela. Also reported to have been aboard the Britten Norman NB2 twin-engine plane with Missoni, 58, and his wife, Maurizia Castiglioni, were another couple and two Venezuelan crew members.

Missoni is the son of the founders of the family-owned fashion house famous for its exuberantly colored knits, featuring bold stripes and zigzags. Vittorio is co-owner with siblings Luca and Angela.

(Reporting by Jennifer Clark; Editing by Mark Heinrich)



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Model Naomi Campbell mugged in Paris in November

PARIS (Reuters) - British supermodel Naomi Campbell was mugged by two assailants who tried to steal her handbag in Paris in late November, the prosecutor's office and police said on Friday.

Campbell lodged a complaint with police after being attacked by two men on motorbikes in the capital's trendy Marais neighborhood.

The men attempted to steal Campbell's bag from inside the car she was in on the evening of November 21, a police source said.

'There was an attempted robbery with violence,' an official at the prosecutor's office said.

U.S. media reported that Campbell had suffered a knee injury in the attack and could require surgery.

A spokesman for Campbell declined to comment and Paris police could not give details of any injuries, saying Campbell had declined an offer to be examined by doctors at the police station.

The incident occurred a short distance from a bar where fashion designer John Galliano made headlines in early 2011 by making an anti-Semitic outburst at fellow drinkers.

Campbell, 42, has been convicted herself of assaults on her staff and on police officers and was ordered by one judge to attend anger management classes.

(Reporting by Lucien Libert; Writing by Catherine Bremer; Editing by Michael Roddy)



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