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high-end products took a hit last year from a strong dollar and global economic woes. Terrorism fears also crimped tourism, a big source of luxury spending. Shares of upscale brands suffered. Michael Kors, Coach Inc. and most other rivals underperformed the Standard & Poor’s 500 Index in 2016. Ralph Lauren Corp. was down 19 percent last year. Prada was the rare exception, rising 9 percent in Hong Kong last year to outperform the Hang Seng Index’s 0.4 percent gain. The Italian luxury-goods maker, which saw its stock price plunge more than half since the peak in 2013, has rebounded since August after Chairman Carlo Mazzi forecast a return to growth in 2017. Prada rose as much as 9.6 percent to HK$30.70 on Wednesday, reaching the highest intraday กระเป๋า MANGO สะพายข้าง level since March. At many stores, the handbag selection from several high-end labels was significantly smaller over the holidays.
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And Coach is often that bag. “They’ve begun to create buzz around the brand again,” says Ron Frasch, a former chief merchant at Saks Fifth Avenue, and now a private equity executive. When Stuart Vevers wants to reconnect with the DNA of the Coach brand as he sets about designing a collection, he hangs out in the climate-controlled archives on the ninth floor of company headquarters, where it houses 28,000 Coach items going back decades. Among the gems are a 1981 “Stewardess Bag” for United Air Lines’ flight attendants, with the airline’s logo embossed in the leather, and a 1968 Bonnie Cashin–designed handbag called “Holster,” a simple classic that wouldn’t look out of place in a Mad Men episode. “It’s got a history, and that’s why there’s trust,” he says of Coach’s collection. The production area at Coach headquarters where prototypes are made. Photograph by Alex Fradkin for Fortune Though Vevers is British, he’s enamored of America’s take on luxury, which emphasizes youthfulness and quirkiness over European-style formality. In the five years before he joined the company, Vevers (who doesn’t have a driver’s license) took frequent Amtrak trips to deepest America, hitting vintage shops at stops along the way. “I was inadvertently researching my first collection at Coach,” says the designer. The research paid off: Luis and Frankfort recruited Vevers in 2013, poaching him from Loewe, the LVMH-owned European fashion house. Vevers won the job with sketches of a collection of baseball jackets, and the deal was sealed during a weekend visit to Frankfort’s home in the Hamptons. Coach had made a brief foray into haute couture in the late 2000s, with an eponymous line by former design director Reed Krakoff, an architect of the company’s mass-market rise.
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Accused South Carolina serial killer pleads guilty to seven murders: reports Todd Kohlhepp, a registered sex offender who has been arrested in connection with the kidnapping of Kala Brown and Charles David Carver is shown in this booking photo provided in Spartanburg, South Carolina, November 3, 2016. Photo courtesy of Spartanburg County Detention Center/Handout via An accused serial killer pleaded guilty to seven murders at a court in South Carolina on Friday and was given seven consecutive life sentences without the possibility of parole, avoiding the death penalty, local news reports said. The defendant, Todd Kohlhepp, 46, admitted to chaining a woman inside a storage shed on his rural property for two months and to a 2003 massacre of four people at a motorbike store, among other crimes, the Spartanburg Herald-Journal reported. As a part of the plea deal, Kohlhepp agreed not to contest the validity of the conviction in state or federal court and gave up his right to appeal, the newspaper reported. Lawyers for Kohlhepp and the Spartanburg County prosecutor were not immediately available for comment. He pleaded guilty to all charges against him, which included the seven murders, kidnapping and sexual assault, the paper said. The crimes date back to 2003 and the bodies of several of the people killed by Kohlhepp were found on his property. During the hearing, several family members of the victims sobbed as they spoke to the judge about their loved ones. Kohlhepp, in shackles, showed no emotion, NBC reported. Kohlhepp was arrested in November on suspicion of chaining a woman inside a storage shed on his rural property.