Wednesday, 18 August 2010

Luxury News In Brief - 18/08/10

Last week we brought you news of ‘Operation Turnlock’ run by Coach, who were focusing their efforts on busting the counterfeiters on the Ocean City Boardwalk in Baltimore, US. It seems Coach are on their way to victory, as two shop owners were arrested early this week for allegedly counterfeiting luxury labels including Prada, Coach and Louis Vuitton. One of the charged men Michael S. Miller, has denied the allegations, with his attorney stating “we deny the allegation that he [Michael] was knowingly selling any counterfeit merchandise.” With emblems found at the stores, which would be used to make the fake luxury labels, we find Miller’s denial hard to believe…

Tiffany & Co will be releasing their quarterly numbers on August 27th, and many analysts are already placing their bets on the expected outcome. Analysts, on average are expecting Tiffany & Co to report earnings of $0.53 per share on sales of $694 million. The company is also expected to post EPS of $2.59- there isn’t long to wait now until the true results are revealed.

Whilst Chanel has battled claims they are a ‘dusty brand’ this week, the company have lost faith in Apple, due to the restrictive control that Apple has resided over Chanel in their upcoming iAd campaign. Chanel were signed up to run an advertising campaign with Apple’s latest iPhone invention- the iAd, which has seen other companies like J.C Penney, Walt Disney Co, and Nissan involved. However, due to the apparent tight control from Apple over the creative process, and the alleged slow actions of Apple, Chanel have decided to pull out of the latest ad campaign all together.

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,