Fashion House Survival Update: Tom Ford, Armani, Versace

Fashion houses aren’t giving up without a fight. Determined to continue to send the latest looks out and deliver us all from recessionista chic, major brands are taking initiatives to save their lines. Here, a rundown on who’s taking action, who’s looking for help, and who’s not worrying about it.
Looking for Help
Yohji Yahamoto has filed for bankruptcy, but might have a buyer.
LaCroix has finally secured a buyout offer.
Escada has secured a buyer.
Taking Action
Versace has laid off much of its staff.
Major layoffs are expected at Gucci.
Zac Posen eliminated a very senior position.
LaCroix has plans to turn into a lifestyle brand.
Proenza Schouler is doing a lower-priced line.
Not Worrying at All
Armani, taking the Palm tree-lined way out, might be retiring. He is 75 years old, after all.
Bulgari reported profits of about $10 million for the third quarter, after two quarters of straight losses.
Their tenacity is a huge relief, and we’re keeping our fingers crossed they all stay afloat.
LET’S HEAR IT
Tom Ford is doing it, too. Does turning into a lifestyle brand decrease a designer’s prestige?









