BoF Daily Digest | Japanese web bargains, Lagerfeld goes masstige, Richemont sales jump, PVH raises outlook, Wintour’s web

Louis Vuitton Omotosando | Source: Highsnobiety

Web-Bargain Luxury Comes to Japan (WSJ)

“For decades, the model for selling luxury imported goods in Japan has been simple: plush surroundings, attentive service—and the ‘Japan premium’… But the cozy system may be cracking, [thanks in part to] third-party websites to jump in with deep discounts.”

Karl Lagerfeld cancels Paris show (Catwalk Queen)

“Instead, the designer is working on a new ‘masstige’ ready-to-wear collection in a bid to change the brand image into a more commercial line… The collection will be ready for A/W 2011, and will be sold online.”

Richemont sales beat forecast, Asian demand soars (Reuters)

“Swiss luxury goods group Richemont’s five-month sales jumped 37 percent, beating forecasts and confirming a rebound in the sector as wealthy Asians splash out again on top-end watches and jewellery.”

Phillips-Van Heusen raises outlook (Reuters)

“Apparel maker Phillips-Van Heusen Corp posted an adjusted quarterly profit that surpassed analysts’ expectations, helped by revenue gains in all three units, including its newly-acquired Tommy Hilfiger brand.”

Anna Wintour Weaves Her Web (WWD)

“Just what Anna Wintour needed: another project. On the eve of New York Fashion Week and a mere two days before her brainchild, Fashion’s Night Out… she is unveiling the new vogue.com.”