BoF Daily Digest | Cheap chic showdown, Volatile celebrity brands, Giving respect, Prada profits soar, Remembering Lee McQueen

Primark Autumn/Winter 2010 | Source: Via Woman

The future of cheap chic (Guardian)

“It was a sign of the times: fashion so cheap it became ‘disposable’… But the days of the £4 jeans and £2 T-shirt could be numbered, with analysts and retailers now warning that the era of constantly reducing prices is coming to an end.”

Celebrity Fashion Lines (Forbes)

“Celebrity clothing brands are particularly volatile, because their success is closely tied to one person whose popularity can fluctuate violently. There’s a lot of coming and going, because as their popularity wanes it affects everything else.”

What Rich Consumers Want: R-E-S-P-E-C-T (WSJ)

“Wealthy consumers don’t want flash and sizzle, they want authenticity, low-key practicality and craftsmanship… No one wants to be pay to be noticed anymore. They want stealth wealth and comfortable shoes. Or do they?”

Prada H1 profits nearly quadruple (AFP)

“Italian fashion company Prada said Friday its net profit nearly quadrupled in the first half of 2010 thanks to strong demand for luxury goods in Asia and sales at Prada-run stores.”

Fashion figures turn out for Alexander McQueen memorial service (Independent)

“Family and friends took a break from London Fashion Week for the ceremony, which was a ‘who’s who’ of the industry… Lee Alexander McQueen earned himself a reputation as the ‘enfant terrible’ of British fashion.”