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from Breakingviews:

Reality yet to cut into ASOS valuation

By Quentin Webb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Reality has yet to cut into ASOS’s valuation. A profit warning on June 5 sent shares in the British online fashion retailer down nearly a third. But the company continues to totter on an uncomfortably high earnings multiple. That deserves to come down too.

As one of Europe’s few e-commerce hits, ASOS has been a stock-market darling, and an inspiration to a younger generation of tech entrepreneurs. But it’s having an awkward 2014. Three months ago, the company warned that revenue growth was slowing, from admittedly meteoric levels, and said investment needed to step up.

Now it is complaining that the strong pound is hurting sales overseas. These are central to growth and also more profitable than UK transactions, which attract VAT. ASOS has compensated by using discounts to drive volumes back home and get shot of excess inventory.

from Photographers' Blog:

Bissau: fashion, flair and hip-hop

Bissau, Guinea-Bissau

By Joe Penney

If you drive through the Mistra neighborhood of Bissau - the charming, ramshackle capital of Guinea-Bissau - signs of peoples’ love for American hip-hop are everywhere.

The local football pitch is named “California” after Tupac’s song “California Love.” Clothes reading “50 Cent” or “Thug Life” are commonplace, and Rihanna’s latest hits blare out from rusty radios beneath the mango trees.

from India Insight:

Colour is India’s over-hyped commodity, fashion designer Rahul Mishra says

(Any opinions expressed here are not those of Thomson Reuters)

Rahul Mishra is the man of the moment in fashion. He just brought home the international Woolmark Prize, the most coveted prize in the fashion world, and one that has gone to some of the biggest names in the industry, such as Karl Lagerfeld.

Mishra, who made his debut at the Lakme Fashion Week in 2006, has created a new kind of fibre from Merino wool that can be worn in the summer. Mishra’s fashions will be on sale at Saks Fifth Avenue in New York, Harvey Nichols in London, 10 Corso Como in Milan, Colette in Paris and elsewhere.

from India Insight:

Room for experimentation at Delhi fashion week

(Any opinions expressed here are not those of Thomson Reuters)

The collection that designer duo Shantanu and Nikhil displayed at the Wills Lifestyle India Fashion Week in New Delhi last week had all the right elements: it was beautiful, it had lehengas and gowns, it looked regal, it looked vintage. It was an instant hit and a big “sold out” note adorned the door of their stall the very next day. Still, a guest remarked, “it didn’t do it for me.”

That’s the way it goes at fashion shows. Most established designers take the safer path, creating garments in their signature styles and adhering to what the world wants now. Few designers experiment or create avant-garde clothing or try something different than what the market knows it wants and would pay to get.

from India Insight:

Photo gallery: Best of Wills Lifestyle India Fashion Week

Traditional Indian wear with the latest trends dominated the Wills Lifestyle India Fashion Week (WIFW) in New Delhi.

The Autumn/Winter 2014 edition showcased designers such as Tarun Tahiliani and Namrata Joshipira, with Rahul Mishra presenting a collection that won the Woolmark Prize in Milan in February.

from Breakingviews:

Blackstone bets Versace can go up a few sizes

By Quentin Webb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Blackstone is betting Versace can go up a few sizes. The U.S. private equity firm has bought 20 percent of the Italian fashion house at a 1 billion-euro valuation. This is a wager that Versace’s lightweight business can grow to fit its extra-large brand.

from India Insight:

In pursuit of the perfect lehenga in Delhi’s Chandni Chowk

Each evening, after pulling their shutters down, sari salesmen in Delhi’s Chandni Chowk market sit down for three hours to fold their wares: embroidered, embellished saris and lehengas that customers browsed all day.

Lehengas, embroidered and pleated long skirts, are serious business in Chandni Chowk, a busy Mughal-era market whose name means “moonlit square”. Despite numerous boutiques and malls opening across New Delhi, the old wedding market has kept its charm, its customers and its business.

from Photographers' Blog:

Timelapse: Golden Globes red carpet

Los Angeles, California 

By Mario Anzuoni

This year for the Awards’ season opener, the Golden Globe Awards, I decided to set up my gopro to document arrivals from my position. This is the first big award show of the season, generally the precursor of what the Oscar winners might be, so all the major A-listers are usually nominated and expected.

I decided to approach this using a light, easy setup, so I attached my gopro to a joby mini tripod which I laid directly in front of me on one of the hedges. It was ready in minutes, barely noticeable and with a wider perspective of my position. Arrivals begin at 2:30 for a 5 o’ clock show, but the floodgates really open from 4:15 to about 4:45. My set up was aimed at documenting the incredible flow of celebrities who arrive in such a short timeframe to crowd the Beverly Hilton hotel ballroom.

from Breakingviews:

Versace’s valuation is as full-on as its outfits

By Quentin Webb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Versace’s valuation looks as full-on as its outfits. The Italian fashion house, which is sizing up buyout firms and sovereign wealth outfits to fund a capital increase, reckons it is worth more than 1 billion euros ($1.36 billion) and could triple in value in three years. There is real potential, because Versace is so behind industry trends. But a big price tag for a skimpy minority stake next to a powerful family? That’s a hard look to pull off.

from India Insight:

Indian women get a new look, with some help from Pernia Qureshi

In a country where styling has not always been recognized as a worthy craft, Pernia Qureshi has put her profession at the forefront of Bollywood fashion.

Qureshi styled actress Sonam Kapoor for 2010's "Aisha", ushering in trendy outfits paired with designer handbags that overshadowed the film, a modern-day take on Jane Austen's "Emma".

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