Hermes can’t deal with LVMH by stiffing minorities

The Hermes family thinks it has been wronged. But in its fight against an unwanted shareholder, it seems intent on sacrificing the French luxury group’s remaining minority investors. To fend off the unwanted advances of larger rival LVMH, which stealthily amassed a 17 percent stake in the Birkin bag maker, the family is planning to pool its shares in a holding company that will control more than 50 percent of the group. It has asked the French regulator to exempt it from rules that would trigger a formal bid for the whole company. But there are no compelling reasons for the regulator to agree. Minority holders shouldn’t pay for the supposed sins of Bernard Arnault, LVMH’s owner. The family, whose members collectively own about 73 percent of the shares, has always maintained that it is in firm control of Hermes. Still, it was shocked and worried by news of Arnault’s intrusion back in October. Those family members who are actively involved in the company say they want Arnault out. Others seem to have sold some of their shares to him. Either way, the plan to consolidate their holdings seems to show the family’s control of the group was not that tight after all. None of the family shareholders own more than 5 percent of the company, and they aren’t currently obliged to act together. As a result, the family’s argument that the new holding company doesn’t really change anything is spurious. Indeed, the plan would involve participants pledging part of their future dividends to the new vehicle, so that it has cash to buy out those family members who might want to sell. Arnault aside, Hermes minority shareholders own no more than 10 percent of the company — their shares are worth around 1.6 billion euros at current market prices. The family has profited handsomely from its investment: the company’s shares are up 60 percent this year alone. The Hermes clan can surely spare a dime to give the silent witnesses to the brawl the option of cashing out.

PolitiFact Florida: Truth making a comeback since elections

Something strange is happening now that the election is over. Florida politicians, dare we say it, are telling the truth a little more often. On Oct. 29, PolitiFact Florida published the results of a sobering general election season. More than 40 percent of the claims we checked rated False or Pants on Fire. Seven in 10 claims were Half True or worse. But now that the winners have won, and the losers have lost — a new day may be dawning for Florida's political leaders. Just look at the numbers. In the month or so since Election Day, nearly half of the claims we've checked have been rated True or Mostly True. Throw in the Half True ratings and the number spikes to 70 percent. "There's less hyperbole after an election," explained Daniel Smith, a University of Florida political science professor. "Elections are high in hyperbole, high in stretching the truth to make political points. We're in a little bit of a lull right now." Granted, the sample size is smaller, but the results are undeniable. During the general election season, outgoing Democratic U.S. Rep. Alan Grayson earned a False and a nomination for PolitiFact's Lie of the Year for claiming Republican opponent Daniel Webster thinks wives should submit to their husbands. But now that the election is over, Grayson is leaving office with a Mostly True rating concerning the Bush-era tax cuts. Grayson said the top 1 percent of income earners would save $83,347 a year if all of the Bush-era tax cuts are renewed as Republicans want — enough for 20,000 jars of Grey Poupon, a Hermes "Birkin" handbag, or a 110-day, around-the-world couple's cruise. He's in the ballpark on the size of the tax break, and only fails to mention that President Barack Obama's original tax plan also would extend some of the Bush tax cuts for top income earners. Grayson later joined some House Democrats who were upset with Obama for compromising with Republicans to extend tax cuts for top income earners. Meanwhile, Gov.-elect Rick Scott kicked off a five-day, 10-city tour of the state's major industries last week by meeting with defense contractors and Florida-based military leaders. He claimed that the defense industry makes up about 10 percent of Florida's economy. PolitiFact Florida rated that True. Military and defense spending made up about 7.5 percent of the state's economy in 2005, according to researchers from the University of West Florida. Those researchers are in the process of updating their findings using 2008 data, and say that while they can't reveal the updated percentage yet, they did say it will be higher. Then there was state Sen. Ronda Storms, R-Valrico, who we thought may have made a ridiculous claim by saying the agency that regulates taxicab drivers in Hillsborough County requires them to wear socks. But it does! The Hillsborough Public Transportation Commission, which Storms wants to eliminate, has a dress code that requires drivers to wear socks, a collared shirt and pants or hemmed shorts. The dress code is in place, the commission's director says, to make passengers feel comfortable. All of this truth made us start to question what was happening. But then Scott claimed that as head of the Columbia/HCA hospital chain, the company drove down national health care inflation from 18 percent to 8 percent in seven years. It was a preposterous claim that relied on a misinterpreted study and oversold one company's ability to change national inflation numbers. So we said Pants on Fire — and, immediately, fears started to lift. "I suspect when the legislative session comes back in full force, I expect the needle to start moving back toward the red," said Smith, the University of Florida political science professor. "Rest assured, we'll see plenty of Pants on Fire soon enough."

Why Claudine may have to say goodbye to London

DON'T worry Claudine, London probably isn't all it's cracked up to be anyway. Ireland's premier WAG Claudine Keane (27) may be the epitome of the footballer's wife, but she is about to get a harsh dose of reality. As her husband Robbie (29) is rumoured to be making a move to Birmingham City FC, the former beauty queen will be swapping Oxford Street, the West End and Chinawhite for The Merry Hill Centre, the Hippodrome and Subway City nightclub. The mum-of-one has embraced the WAG lifestyle with gusto, and may be just the injection of glamour that Brum needs. But with every big move comes a lifestyle adjustment. This Dublin beauty may be used to the likes of celebrity hairdresser Stuart Philips grooming her locks, but Birmingham has salons too -- however, your chances of running into Alex Gerrard and Carly Zucker are slim to none. Birmingham City are hoping to sign the Tottenham striker ahead of arch-rivals Aston Villa, and Robbie is already said to be out of favour with Spurs manager Harry Redknapp, who loaned him to Celtic earlier this year. And when her husband was on loan in Glasgow, she was conspicuously absent from his side, instead choosing to spend her days in London with their young son Robbie (2). At the time, she defended her choice saying: "It would be wrong to bring Rob up north all the time, it wouldn't be fair to him to keep him in a hotel room for the weekend or whatever so it's better that we stay where we are while his dad's working." Now, as the date nears, the question remains: will glamorous Claudine swap the bright lights of London for the er, unique charms of Birmingham? As her modelling career continues to soar, having been named the face of Ultimo lingerie once again, she is likely to stay put in the English capital. While she insists she is the antithesis of a WAG, she is definitely the poster girl for footballers' wives. She made headlines when she debuted her new €6,300 Hermes Birkin bag in Dublin earlier this winter, an item that might stick out among Birmingham's elite. As the accessory is worth nearly the average person's yearly rent, she has finally joined fashion's elite and beat the four-year waiting list. So, there is one consolation prize in this -- if she does choose to stick to London, at least she has something to clutch on to at night.

The fresh Group launch OMEGA Boutique

December saw Cheadle-based creative agency the fresh Group produce a high profile launch event for the new OMEGA boutique at the Trafford Centre. The new 1000sq ft store showcases the Swiss watchmakers luxury watches and jewellery and is the first OMEGA store outside of London. As a leading North West based agency, fresh were the ideal choice to produce this event, which took place in Manchester city centre on Wednesday 8th December. The fresh Group were asked to conceptualise and produce the event at Room, a unique restaurant and cocktail bar in central Manchester. The glittering event saw celebrity chef Simon Rimmer, who cooked up some delicious canapés for the 200 guests, including comedian Patrick McGuiness and world heptathalon champion Jessica Ennis. Flair bartending act The Bar Wizards, who rose to fame on the 2007 series of Britain’s Got Talent kept guests entertained and made a variety of delicious cocktails, created especially for OMEGA, including the Ladymatic Cosmopolitan and the Speedmaster Caipirinha, named after OMEGA brands. In the short five hour setup time, fresh completely changed the look and feel of the venue from a bar and restaurant into a luxury party venue. Bringing in a full lighting and sound system and installing false walls to create more intimate spaces, the inside of the building, complete with huge branded canvases and bespoke light boxes, fully reflected the glamour of the outside, which was lit with bespoke gobos. Client Services Director Lee Ashton said; “This was a great opportunity for us to utilise the space in a listed building in a new and innovative way, and enabled our creative teams to really be imaginative. The end result was a stunning event, which attracted a huge amount of attention to the OMEGA brand and boutique.”

European Factors-Shares seen little changed; focus on miners

European shares were seen opening little changed on Wednesday after hitting a 27-month high a day earlier, with investors avoiding strong bets at the tail end of the year, though weaker metals might pressure miners. Futures for Euro STOXX 50 STXEc1 and France's CAC FCEc1 were flat, while Germany's DAX futures FDXc1 rose 0.1 percent. Financial bookmakers earlier predicted Britain's FTSE 100 .FTSE to open flat to down 4 points. Investors will keep an eye on the geopolitical situation after South Korea announced land and sea military exercises on Wednesday including its largest-ever live-fire drill near North Korea in a big show of force. [ID:nTOE6BL01T] Resource-related stocks will be in focus as a fall in key base metals prices might prompt investors to take profits after recent gains. The STOXX Europe 600 basic resources index .SXPP is up more than 12 percent this month. The euro zone debt situation may lead investors to be cautious in year-end trading. Fitch Ratings said late on Tuesday there was a growing probability it would cut Greece's credit rating to junk, highlighting doubts over Athens' ability to pull itself out of the debt crisis. [ID:nLDE6BK1XS] Fitch's warning added to a series of bad news for the euro zone on the rating front as it struggles with its biggest crisis on record, coming on the heels of several downgrades for Ireland and as Spain and Portugal also face the threat of cuts. Technical outlook for European shares looks positive, with the Euro STOXX 50 .STOXX50E, the euro zone's blue-chip index, rising 1.3 percent to 2,876.99 points on Tuesday and staying above its 50-day moving average. It has got support at around 2,838 points -- a 38.2 percent Fibonacci retracement of a major fall to a trough in 2009 from a high in 2007. Japan's Nikkei .N225 inched lower, backing away from a seven-month high hit in the morning session on Wednesday. European shares climbed to their highest since September 2008 on Tuesday, while U.S. stocks rose overnight on solid earnings.

Handbags Market Report: 2010 Edition

Handbags represent one of the key accessories completing the wardrobe of women for ages, which also serve as a major driver behind the growth of the fashion world. Changes in the key trends in the handbag market result mainly because of the changes in the fashion and luxury market. Fashion designers and boutiques are increasingly including handbags in their new collections as designer handbags generate high margins. Designer handbags are registered a high growth in the prices for the last several years. The US handbags market witnessed a decline in growth in 2008 and 2009 because of the global economic slowdown. The financial recession not only caused a fall in domestic demand, but also led to a fall in exports. The EU handbags market consists of six major markets - Italy, France, the UK, Germany, Spain and the Netherlands – which collectively account for the majority share in sales and production of handbags. In EU, handbags are mainly sold through specialist chain and independent retailers. The US and EU handbag market is all set to witness a growth in the coming years as result of huge export demand from countries like China and India and also as a result of improving economic conditions in their domestic as well as international markets. Competition has been one of the major characteristics of the handbag market with numerous independent designers launching their own stores. The premium handbag companies mainly include luxury brands as well as private label retailers. For a long time, Europe is the largest market for luxury handbags with brands like Louis Vuitton, Chanel, Gucci and Prada; but American designers are giving it a touch competition with new strategies and branding initiatives. Companies like Coach Inc, Louis Vuitton SA, Burberry Group Plc and Hermes International SCA have shifted their attention to under-penetrated markets with huge growth potential, like China and India. Also, companies have realigned their distribution channels to cater to customer needs more efficiently and reduce their operational costs at the same time. The report discusses the handbag market and presents an analysis of the US and European markets. The report also profiles the major companies operating in the industry, with a special focus on their business strategies. The report further analyzes the major trends and growth drivers of the industry. By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests

Take A Look at the $13,950 Victoria Beckham Bag That Sold Out In Hours

It would be putting it mildly to say that Victoria Beckham is a bag enthusiast. She reportedly owns around 100 Birkin bags. So it’s little wonder that the designer decided to create her own handbag line, and that her bags seem inspired by the classic shape and timelessness of the Birkin. Victoria Beckham is one of the few celebrities to design a successful line that has been well received by fashion critics and celebrities and the general public. She took her time and worked with the right people to create a smart line with a clear aesthetic. So it follows that her handbag line is a hit, too. Beckham paired up with former Luella and Marc by Marc Jacobs accessories design phenom Katie Hillier (who now designs her own adorable bunny-filled line) to create a collection of understated, boxy, lady like bags with a severe edge. Two of the styles–the leather and nubuck shoulder bag and the hexagonal chain bag in crocodile–went on sale yesterday at Net-a-Porter. The leather and nubuck sold out within the hour, Elle UK is reporting. The nearly $14,000 crocodile bag (pictured right) sold out by the afternoon. According to T, the collection comprises of six styles ranging in price from $1,800 to $13.950. The theme for the collection? “24 hours in the life of Victoria.” So unless you truly live a life like Victoria’s, and didn’t spring for the $13,950 crocodile purse yesterday, the full collection will be available later this month at Bergdorf’s, Neiman’s LA, and more on Net-a-Porter.

Hermes Shares Jump in Paris After LVMH Increases Holding to More Than 20%

Hermes International SCA rose as much as 5 percent in Paris trading after larger luxury-goods rival LVMH Moet Hennessy Louis Vuitton SA said it increased its stake in the Birkin bag-maker to more than 20 percent. Hermes gained as much as 7.80 euros to 164.45 euros, the highest price since Dec. 3. LVMH said late yesterday it has purchased more Hermes shares on the market, raising its holding from the 17.1 percent announced in October. The increased stake may boost speculation that LVMH Chairman Bernard Arnault is gradually targeting a takeover of Hermes, even as the company said again it isn’t seeking a board seat or control. Descendants of the Hermes founding family said Dec. 6 they are setting up a new holding company to allow family members to sell without making their shares available to LVMH. “Its determination looks strong,” Pierre Lamelin, an analyst at Cheuvreux in Paris, said of LVMH. “The first tranche was secured through the use of equity swaps at a very compelling price. The last tranche paid at the spot price shows that LVMH’s long-term intentions are clear beyond the financial coup.” Lamelin has an “outperform” rating on LVMH. Hermes, the French maker of Kelly handbags that retail for about 7,000 euros ($9,200), has said that the three branches of its founding family are “fully united” in their desire to retain control of the 173-year-old company. Hermes hired BNP Paribas SA and Bank of America Corp. as advisers last month to help fend off a possible LVMH takeover bid. LVMH can’t make an offer for all of Hermes until at least April 23, according to French regulations. Equity Swaps Hermes shares were up 3.85 euros, or 2.5 percent, to 160.5 euros as of 9:13 a.m. in Paris, boosting the company’s market value to 16.9 billion euros. LVMH fell 25 cents, or 0.2 percent, to 125.20 euros, valuing it at 61.4 billion euros. LVMH bought the 17.1 percent stake via equity swaps. The French securities regulator is investigating whether that transaction complied with its rules. The increased stake will further reduce the percentage of Hermes stock that is publicly traded, already less than 10 percent. Hermes’s family shareholders own more than 70 percent of the company. “Hermes can’t be taken over, especially if the family sticks together,” said Davide Vimercati, an analyst at UniCredit SpA in Milan. “LMVH should be able to raise its stake to around 25 percent, but that won’t be enough to take control. LVMH looks as though it is positioned in Hermes for the long term, but won’t be able to do much in the medium term.” A Hermes spokeswoman didn’t return a call to her mobile phone seeking comment.

The alpha and the Omega of luxury

A watch so good even Buzz Aldrin brought it to the moon. That distinction belongs to the Omega Speedmaster Professional Chronograph, which took a ride with Buzz on the Apollo 11. One does not need to amplify the precision, functionality and reliability of this particular wristwatch. We’re talking about a rocket ride to a satellite here — not just a dive into the ocean or a hike up the mountains. Just try to consider zero gravity, moon dust and light years worth of jet lag. Omega passed all the tests that that National Aeronautics Space Administration or NASA conducted and deemed as “flight-qualified by NASA for all manned space missions as the only wristwatch to have withstood all of the US space agency’s severe tests, including (getting) passing grades for extreme shocks, vibrations, and extreme temperatures ranging.” This is according to Emerson Yao, managing director of Lucerne, which is the exclusive distributor of Omega watches in the Philippines. Talk about having the right stuff. James Bond would agree, if he weren’t a work of fiction. But then you have flesh-and-blood icons and Omega ambassadors like Michael Phelps, Zhang Ziyi and George Clooney. Decades later, the Swiss luxury watch brand is still journeying to the heavens. It recently launched one of its most elegant collections in its 162-year history called the Omega Constellation Luxury Edition. The elegant series (a glittering family composed of wristwatches for ladies and men, a chrono model and an automatic model; there are also gold, white-gold and rose-gold variants; etcetera and etcetera) is featured in an ongoing exhibit on view until Jan. 15, 2011 at the Omega store at the ground floor of Greenbelt 5. What to see in the exhibition? How the Constellation watches have identical dials, but with three distinct configurations of diamonds on their bracelets and cases. How each of these watches comes in a choice of 24-mm and 27-mm case sizes fitted with the quartz caliber 1376 or a 31-mm case equipped with the Omega co-axial caliber 8421. Let it snow: Omega goes über luxurious in its redesigned Constellation collection, the phalanx of diamonds creating a snow effect. “The Constellation was redesigned in 2009,” informs Yao, adding that the Constellation watch is still the Omega Greenbelt boutique’s best-selling item. It is one of the most iconic Omega watches in the world, after all. “There were some changes in the classic Constellation. Jewelry was added to the watches — diamond embellishments in different patterns.” As to the kind of man or woman who wears Omega, Yao offers a handy description. “It still depends on the model. Generally, most of our customers are looking for a classic, established brand, but at the same time want a more contemporary style or design. Omega as a brand is always able to marry the traditional designs created 40 to 50 years ago, but every five to 10 years, it refreshes the collection to make it more relevant to present trends.”

Omega, Cartier, and Rolex Watch Repair Specialists' New Look

Award winning watch repair company Gray And Sons can and has fixed it all. No matter what kind of watch a customer owns, Gray & Sons has the on hand expertise to fix it. Recently, Gray and Sons redesigned their website to easier usability and navigation. A new updated video of their process is available for visitors to see the faces behind the company. For over 31 years, Gray and Sons has been offering the best watch repair services in South Florida. Their watch repair specialists are well-known and respected in the business, and have their repair techniques down to a form of art. If customers have any type of fine watches that have broken or are in need of some repair, they know they can trust Gray and Sons to get their watch back into perfect working order. While Gray and Sons can work with any type of watch, they specialize in the very top of the line watches. Customer who need Omega watch repair or Rolex watch repair have come to realize they are well-versed in the ways that those watches function to the point that they not only know the watches inside and out, the designers who first created them, and background history on each timepiece. Taking broken Rolex or Omega watches to Gray and Sons is almost like buying a new one, except that it does not carry the heavy price tag. The biggest benefits of taking fine watches to Gray and Sons is their several experienced on-hand watch repair specialists. Watches do not have to be mailed out to an off-site location for fixing. The whole process comes together very quickly so that each watch is fixed and back in customers' possession as soon as possible. These specialists can repair antique, estate, and vintage watches. They are fully trained and ready to look at any watch the moment that it is brought in. Gray and Sons understands that most people are not familiar with the process of mailing in their timepiece to get them fixed, so they provide friendly in-house customer service representatives to guide them throughout each step of the process. Their longevity and experience shows they can be trusted. Gray and Sons repair experts provide a personal touch and superb service that is unparalleled throughout South Florida. Gray and Sons also works with estate jewelry; taking care of antique rings and other pieces of jewelry that may need repair. They provide the same professionalism and skill that they bring to their watch repair clients. Besides just working on jewelry, however, they also sell it right from their store and their website. They have some very rare and beautiful pieces that can be purchased from their Jewelry Clearance section, giving customers the best deals they can find on top quality pieces. They provide free catalogs that outline all of these services and keep readers updated on the latest acquisitions. When visitors sign up for their jewelry catalog, they get an updated catalog once a month with all the necessary information for each estate jewelry piece for sale with high resolution photos. Recently GrayandSons.com has been updated and redesigned so that it is both more comprehensive and more user-friendly. Visitors can view their extensive inventory of watches from all major brands. The award winning website is very helpful to customers since it combines all of their services in one place, providing information about Omega watch repair, Rolex watch repair, Jewelry clearance, and the selection of watches which are available for purchase. The website makes it very easy to browse all of their services and products, and customers are free to sign up for their free catalog in order to stay informed of the current market and find the best deals available from Gray and Sons. For the best watch repair services around, look to Gray and Sons. They are professional and seek to please every customer in everything that they do. The experience will be one that will be both easy and enjoyable. Visit their website at http://www.replicasomega.com.

Retailing's gray market and the death of an America diplomatic giant

Attention Costco shoppers: Those discounted luxury items might soon cost more. A 4-4 ruling Monday from the U.S. Supreme Court didn't set a national precedent, but it means that Costco will most likely keep fighting in court with Swiss watchmaker Omega over how Costco bought and imported fancy watches, then sold them for $700 less than retail. A tie vote means the appeals court ruling in a case stands. The 9th U.S. Circuit Court of Appeals had ruled that Costco couldn't get Omega's suit dismissed. New Justice Elena Kagan stayed out of the case because she was U.S. solicitor general when the Obama administration filed a brief siding with Omega. The issue was whether Omega could use U.S. copyright law to prevent Costco from reselling high-end watches acquired through the gray market. Discount stores increasingly are using "gray market" distribution chains to buy luxury goods -- not knock-offs -- abroad then selling the imported goods. But companies that haven't been able to control the gray market by invoking trademark laws have tried to use copyright instead. Omega cleverly engraved a tiny special design on the backs of the watches, copyrighted the logo in the U.S., then sued Costco for selling copyrighted products without permission. Costco said copyright law gave Omega control over only the first sale of the watches, not over every other sale down the line. The 9th Circuit disagreed. The Supreme Court had to grapple with a dizzying array of issues, such as how far U.S. copyright law reaches, whether giving foreign companies broad rights down the distribution chain harms U.S. consumers and whether the law provides more price controls for foreign-made goods than those made in the U.S. The billions of dollars at stake attracted a business who's who in friend-of-the-court briefs. Costco backers included Grapevine-based GameStop, Amazon.com, Target, Sam's, the American Library Association, eBay, Google and Intel. Omega's included Fujifilm Corp., the American Bar Association and the motion picture and recording industries. The price wars will no doubt continue. RIP, Richard Holbrooke The e-mail exchanges this week among editorial writers who met in April with U.S. special envoy Richard Holbrooke at a State Department briefing served as a shorthand summation of the personality of the career diplomat, who died Tuesday during surgery to repair a torn aorta. Bursting with energy. Knowledgeable, open and enthusiastic about his work and his experiences. Incredibly candid. Leaving others disarmed by his frankness and his unassuming manner. Not everyone agreed with those descriptions. Holbrooke, 69, could be arrogant and challenging to work with, alienating aides and allies as well as enemies. And, as one member of the National Conference of Editorial Writers said, he was not shy about letting us know that he could use the media to his advantage. Holbrooke was also a patron of journalism. His off-the-record sessions, designed to help opinion writers understand the nuances and difficulties in working toward peace in Afghanistan and Pakistan, proved that. His untimely death was a loss to U.S. diplomacy and to a better understanding of the delicate and often dicey game of diplomacy.

OMEGA goes uber-luxurious with Constellation Luxury Edition

Swiss luxury watchmaker OMEGA successfully launched one of the most elegant wristwatch collections in its 162-year history, the OMEGA Constellation Luxury Edition. "It’s the first time that we are launching a very opulent watch collection. This is a much awaited edition and loyal patrons of OMEGA are simply excited that this extraordinary watch is now available in the Philippines," says Emerson Yao, managing director of Lucerne the exclusive distributor of OMEGA watches in the Philippines. Showcasing a strong and vivid visual identity, the dials display a dramatic supernova structure that boldly emanates from the Constellation star at 6 o’clock. Each timepiece shimmers and glitters with round diamonds whose seemingly random distribution in an intriguing "snow setting" elegantly respects the geometry of each jeweled component of the watch. OMEGA gives luxury watch connoisseurs the chance to view this elegant collection via an ongoing exhibit until January 15, 2011 at the OMEGA store in Greenbelt 5. At the exhibit, visitors will be able to see that these exquisite watches have identical dials. There are however, three distinct configurations of diamonds on their bracelets and cases. Each of these is offered in a choice of 24 mm and 27 mm case sizes fitted with the quartz caliber 1376 or a 31 mm case equipped with the OMEGA Co-Axial caliber 8421.

Gbagbo Adviser Warns ECOWAS Against Force in Ivory Coast

A special adviser to embattled Ivorian President Laurent Gbagbo told VOA it will be a mistake for leaders of the Economic Community of West African States (ECOWAS) to use “legitimate force” to remove Mr. Gbagbo from power. Ambassador Yao Gnamien said the political crisis in Ivory Coast is an internal problem that, in his words, requires an African solution. “I think that we need to remain African. It is an African crisis (and) we have to solve this crisis with African means. This is why we think that those African heads of state, they have to come to Cote d’Ivoire to listen to the different parties and then to find the solution,” said Ambassador Gnamien. “We don’t want the military solution. It will be useless for the West African region.” A delegation of West African leaders is scheduled to meet Mr. Gbagbo Tuesday to tell the Ivorian leader to step down and hand over power to former Prime Minister Alassane Ouattara, or face military force to remove him from power Meeting Friday in Nigeria, West African leaders threatened to use force against Mr. Gbagbo unless he accepts the 28th November presidential election results and gives up power. They said they will send a delegation to Mr. Gbagbo in hopes of convincing him to step down peacefully. However, they warned that, if Mr. Gbagbo refuses to do so, neighboring countries will have “no alternative,” but to take other measures, including the use of force, to enforce the election results. The African Union, United Nations, and many countries have recognized Mr. Ouattara as the winner of last month’s election. However, Mr. Gbagbo has rejected all attempts to make him leave office. Ambassador Gnamien said former colonial power France is behind the international community’s stance to remove Mr. Gbagbo from power and warned that “military force” will not be the solution to resolving the crisis. “It (force) is against the U.N. Charter, Article Two, paragraph four, they said that no nation must use (a) threat (of), or use force in international relations. So, we don’t need these kinds of threats,” said Ambassador Gnamien. “An electoral controversy is an internal affair (and) we have seen those cases so many times in West Africa. It happened in Togo; it happened in Burkina Faso; it happened in Benin and in Nigeria. We have never used force against any single nation within West Africa after a controversy borne after an election.”

Defense Unravels, but Jets Slip Into Playoffs

The Jets traveled here to clinch a playoff berth, to win for their embarrassed coach, to assert their confidence heading into the final week of this strange season. Their defense forgot to make the trip. Quarterback Jay Cutler launched three touchdown passes in the third quarter, as if playing against a high school defense and not a celebrated one, and that made the difference in the Chicago Bears’ 38-34 victory on Sunday at Soldier Field. Despite the loss, the Jets (10-5) clinched a wild-card playoff berth when the Jacksonville Jaguars lost to the Washington Redskins in overtime, 20-17. Coach Rex Ryan spent all week answering nonfootball questions, again, this time in reference to foot fetish videos posted on the Internet of a woman who looks very much like his wife. He returned here, to the stadium where he once served as a ballboy, where his defense, played poorest in the loss. This game evolved, or devolved, into a high-scoring affair during a chaotic third quarter. It featured two unimpeded offenses, two nonexistent defenses and a full 28 points. Cutler took the starring role after halftime, throwing for three touchdowns, all precise, all deep, from 40, 25 and 26 yards. The Jets aided his first third-quarter touchdown toss with a puzzling fourth-down play call. On fourth-and-3 from the Jets’ 40, quarterback Mark Sanchez played the up back, took a direct snap and threw to Brad Smith, who dropped the pass. One play later, Cutler lobbed a beautiful spiral for a 40-yard touchdown to Johnny Knox. The Jets’ defense essentially took the entire quarter off. Their special teams unit, meanwhile, started inexplicably to kick to Devin Hester, who last week set the N.F.L. career record for most return touchdowns. Hester returned a punt 38 yards in the third quarter, setting up his own touchdown reception. He later returned a kickoff 46 yards, setting up another touchdown pass to Knox. In between those scores, Sanchez filleted the Bears’ defense, running back Shonn Greene (12 carries, 70 yards) continued perhaps his most impressive game this season with an 18-yard gain, and Santonio Holmes hauled in a Sanchez offering for a 23-yard touchdown. By the time Nick Folk kicked a 35-yard field goal early into the fourth quarter, the Jets trailed, 38-34. The scoring streak between the teams ended there, and only because the Bears’ Robbie Gould pushed a 35-yard field-goal attempt wide, his first miss in his last 65 attempts at 40 yards or less.

Coburn: Control Government Spending or Face 'Apocalyptic Pain'

"Apocalyptic pain" from an out-of-control debt could cause 18 percent unemployment and a massive contraction in the economy that would destroy the middle class, a leading Republican deficit hawk said in an interview that aired Sunday. Sen. Tom Coburn, R-Okla., who recently issued a report on government waste, warned that the U.S. only has about three or four years to get its fiscal house in order or it could find itself facing austerity measures seen in Greece, Ireland, Spain, Portugal and earlier in Japan. "The history of republics is they average 200 years of life. And they all fail in the history over fiscal matters. They rot from within before they collapse or are attacked," Coburn told "Fox News Sunday." "The problem that faces our country today, the last 30 years we have lived off the future, and the bill is coming due," he added. The senator, who was recently elected to a second -- and he pledges -- final term in Congress, said he's not trying to scare anyone, but eliminating waste in the federal government's ledgers is imperative not just to prevent default but a massive implosion that he defined in catastrophic terms. "I think you'll see a 15 to 18 percent unemployment rate. I think you will see an 8 to 9 percent decline in GDP. I think you'll see the middle class just destroyed if we don't do this. And the people that it will harm the most will be the poorest of the poor, because we'll print money to try to debase our currency and get out of it and what you will see is hyperinflation," Coburn said. "If we didn't take some pain now, we're going to experience apocalyptic pain, and it's going to be out of our control. The idea should be that we control it," he said. Coburn said he can come up with $350 billion off the top of his head in inefficiency and waste that could be eliminated without impacting anyone in a practical sense. He noted $50 billion in programs that are duplicative and $100 billion in Medicare and Medicaid fraud that was not addressed in the health care law. "We have 267 job training programs across 39 different agencies. Why do we have 267 of them? We have 105 programs to encourage people to go into science and technology, engineering and math. That's 105 sets of bureaucrats. None of them have metrics on it," he said. "The Pentagon can't even audit its own books. It doesn't even know where its money is going. And we refuse to have the tough forces go on the Pentagon so that at least they are efficient with the money they're spending," Coburn added. In one of his last acts in the lame-duck session that ended last week, Coburn, an obstetrician who earned the nickname "Dr. No" for his refusal to spend taxpayer dollars, was a critical factor in getting a health care program for Sept. 11 responders reduced in scope and cost. The $7.2 billion program was cut to $4.3 billion and was paid for through additional fees and reductions in other spending.

Obamas attend church during Hawaii vacation

US President Barack Obama and his family made a rare public appearance at church services Sunday, at a military base near the Hawaii rental home where they are spending Christmas and New Year holidays. The president, First Lady Michelle Obama and daughters Sasha and Malia arrived at St. Michael church on a US Marines Corps base near the hamlet of Kaneohe a little after 11:00 am (2200 GMT) and settled into pews in the first row. The first family took communion and heard a Christmas-themed sermon at the service attended by some 100 worshippers. It was Obama's first public church attendance since September 19, when he went to Sunday services at a church near the White House. Obama usually refrains from going to church, out of concern that his presence and the exhaustive security precautions required before and during the worship could prove disruptive for other congregants. The question of Obama's faith has been a recurring talking point for the US public, in large part because polls show that a substantial number of Americans have the misconception that he is Muslim, despite his frequent declarations that he is Christian. His church outing took place one day after Obama visited the base to celebrate Christmas with men and women in uniform. The first family is spending their holidays in Kailua, in the northeast of Oahu Island. The president was born in Hawaii and attended a private school here as a youth. On Saturday, the president and the first lady spent about an hour and a half with the marines on Saturday taking pictures and sharing a Christmas meal. Obama, who was expected to remain in Hawaii through the New Year's Day holiday, also visited this base during previous Christmas vacations in 2008 and 2009.

Downsizing the trend in bags

FIVE years ago a woman needed a gym membership, a chiropractor on speed-dial and plenty of attitude to lug around the it bag of the day. Enormous, ostentatious and outrageously expensive, it bags, including the Givenchy Nightingale, the Balenciaga Giant and the Chloe Paddington, were one of the biggest fashion phenomena of the early 2000s. But post-recession, the flashy monograms and in-your-face styles have gone, replaced by a more discreet species of clutches and totes that is driving the recovery of the handbag market. When sales of handbags in the US alone fell 3.3 per cent to $6.97 billion last year, according to market researcher NPD Group, fashion brands across the world began working overtime to transform their designer dinosaurs into smaller classic investment pieces that would appeal to the more judicious consumer. Stripped of gilt and logos, and in more functional shapes such as the messenger, the satchel and the pochette, the latest offerings from Celine, Chloe, Mulberry and Prada offer a timeless and more practical alternative to giant and garish one-season trends. "I think people want to feel as though they are buying not this throw-away thing," says Mulberry creative director Emma Hill who since joining the British luxury company has already produced the fashion industry's first post-recession handbag hit, the Alexa. Named after British television presenter Alexa Chung, the Alexa has helped increase Mulberry's sales by almost 30 per cent since June last year from pound stg. 58.6 million to pound stg. 72.1m ($116.8m). The streamlined man-style leather satchel sells for pound stg. 795 on Mulberry's website, with a smaller clutch bag version priced at pound stg. 450. "The Alexa you could be wearing next year, you could be wearing it in 40 years," Hill says. "It's not so tied to one season and it's not a one-hit wonder. We have had incredible success with bags like the Alexa." Since taking the helm of Mulberry three years ago Hill has reinvented the it bag as a heritage-inspired investment piece by drawing on the brand's archives and imbuing them with her own sense of English eccentricity. The Alexa, for example, is a new take on Mulberry's traditional men's briefcase called the Bayswater. Hill was inspired to create it for Chung after the television presenter was photographed carrying the men's Bayswater, which Hill reinterpreted in softer leathers and textiles in multiple colours and prints. Celine and Chloe are the other two powerhouses of the new understated purse. Celine's best-selling Boston tote features the brand's logo in small gold type, while the brand's petite Classic Box Bag shoulder bag has it discreetly embossed into the gold hardware on the clasp lock. The Celine bags share the same investment cachet and design lineage as the elegant Hermes Constance, often referred to as the Jackie O bag, or Cartier's classic Les Must de Cartier burgundy bags, first launched in 1974. Chloe has introduced a subtle colour palette of of tan, caramel, olive and ivory for its subtle, structured bags, of which the heroes, the Paraty and the Marcie totes, have replaced the Paddington as the brand's most desired pieces. Launched in 2005 and weighted down by a large metal padlock and a $1380 price tag, Chloe's Paddington nonetheless boasted waiting lists, as did similarly grand offerings from Gucci, Louis Vuitton and Prada. Independent retailer Robby Ingham was the first to import the Chloe Paddington into Australia, and says the bag would repeatedly sell out within two days. The Paddington was the first it bag, says Ingham. It created the whole craze. Chloe had a waiting list in its London store of 700 people. But now, says Ingham, the discerning customers are slowly moving away from the highly identified mongram bag. A new functionalism also has emerged with bags featuring details borrowed from men's workwear. Miu Miu's Paloma messenger bag is a more luxurious version of a work satchel and is designed to carry an iPad and a laptop. (Computers are fashion statements, too.) But given the nature of the new bags, the challenge is marketing them. In this respect, celebrity seeding and a strong internet presence are more important for brands than ever. Naming the Alexa after Britain's most emulated figure since Kate Moss was certainly a smart move by Mulberry, while other labels give their bags to young actresses such as Emma Watson, Carey Mulligan, Blake Lively and Kristen Stewart. Fashion bloggers including Susie Bubble and Garance Dore, who heralds Celine as her favourite handbag of the moment, also help drive sales. Fashion blogger Tommy Ton (jak&jil.com) has an entire page devoted to people wearing Celine, which is owned by LVMH, the world's biggest luxury group conglomerate. LVMH recorded a 14 per cent rise in third-quarter sales, also driven by the solid recovery of its other fashion brands including Louis Vuitton, Fendi and Loewe. Chanel launched a Facebook page to promote its products in May, adding to a digital arsenal including a website, iPhone app and podcasts. "It's a crossover from our own website that provides behind-the-scenes action, backstage footage and news on the latest developments," Chanel Australia and New Zealand corporate communications manager Juliet Fallowfield says. Chanel's Facebook page has already attracted two million friends, while Hermes, which launched its Facebook page in August, has gathered more than 180,000 fans. With classic bags including the Kelly and the Birkin already within its stable, Hermes is better placed than most to capitalise on the trend to less obvious luxury for customers who can afford them. The French luxury brand reported a 55.2 per cent surge in second-half profits and predicts a 12 per cent jump in overall sales this year. "We have observed a retreat to quality, which has enhanced the appeal of Hermes to its clients around the world," says a spokesman for Hermes Australia. Hermes' bags and the company's blue-chip reputation have proved irresistible even to its competitors, with LVMH last month buying a 14 per cent stake in the company for a cost of E1.45bn ($1.99bn). Hill agrees an appreciation of quality is also behind Mulberry's soaring sales. "There is something nice about artisan things and we have done incredibly well," she says of investment handbags. "Our major problem right now is making them fast enough, which as an old friend of mine used to say, is a high-class problem."

Designer labels bank on China

Dressed in an alluring black dress and sporting a luminous pearl necklace, Holly Golightly stares in wonderment at the world behind the window of Tiffany's emporium on Fifth Avenue in New York City. It's an iconic image from the 1961 movie Breakfast at Tiffany's that has drawn many young ladies to its jewelry displays. The role of the country girl-turned-socialite was made famous by Audrey Hepburn, who said of the store, it was "the best place in the world, where nothing bad can take place". Founded by Charles Lewis Tiffany and Teddy Young in 1837, the luxury brand is still going strong, with outlets worldwide from Bogota to Dublin. Now Tiffany's Chinese fans can appreciate the luxury designer at home after it unveiled its 2011 jewels and diamonds in Beijing in October - the first time the brand has unveiled a major new collection outside the United States. Although it is a first for Tiffany's, it is part of a trend for global luxury groups. Premium brands are making great efforts to tighten their ties with Chinese clients as they realize that the Middle Kingdom is driving the development of their industry sector, which is experiencing one of the fastest growths in the country. A study from American consultancy Bain & Co suggested that the recovery of the luxury market was now in full swing with hugely improving sales of high-end goods such as designer handbags and watches. China remains the fastest-growing luxury goods market in the world, with a sales volume of 68.4 billion yuan ($10.27 billion) and an expected increase of 30 percent this year over last year's takings. "We aim to let Chinese customers become more familiar with the connotation and history of our brand through this activity, which brings Tiffany's closer to its Chinese buyers," Michael J. Kowalski, chairman of Tiffany & Co, told China Daily. In the second quarter of 2010, Tiffany's witnessed its fastest growth in China, with a 27 percent increase year-on-year. "Sales in the Asia-Pacific region, led by China, could increase by a mid-20s percentage for the whole year," Kowalski said. Makers of luxury brands that want to get closer to Chinese customers are legion. Reuters reported that the Italian luxury brand Prada said it may launch an initial public offering (IPO) on the Hong Kong stock market if markets recover next year. Prada has shelved a flotation three times over the last decade and finally chose Hong Kong as the location of its overseas IPO. During the coming Chinese Spring Festival on Feb 3, the Parisian luxury department store Printemps will offer discounts and organize youngsters wearing traditional Chinese costumes to give traditional red envelopes to Chinese customers to mark the occasion at its 45,000-square-meter location on Boulevard Haussmann. "We always attach great importance to Chinese customers' sensitivities and we prepare a holiday surprise for our Chinese clients every year," Chief Executive Paolo de Cesare said. John Galliano, designing director of Dior, together with film director David Lynch and French actress Marion Cotillard, came to Shanghai to advertise Dior's 2010 spring and summer collection earlier this year. The initiative strengthened the identity of the French fashion house in the city, which is regarded the most modern and stylish place in China. In September, French fashion label Hermes opened its first boutique for its new brand called Shang Xia (which means topsy-turvy in Mandarin) - a strategy that highlights China's growing importance to the luxury goods company. The store, an example of minimalist chic, offers clothing, home furnishings, shoes and tableware - a collection made from traditional Asian materials such as bamboo, cashmere and porcelain. Shang Xia is looking for strong growth in China, a country where Hermes has lagged behind its competitors but which it sees as a principal market. "The idea is to bring the Hermes philosophy to China, to create a Chinese Hermes," Chief Executive Patrick Thomas told Agence France-Presse. In December last year, Parisian fashion house Chanel set up a shop in Shanghai where potential customers could get a behind-the-scenes view of the creative process in putting its collections together. The word Chanel was given a Chinese pictogram that was embroidered on the company's latest collection to give it a distinctive Chinese flavor. "Chinese elements in the design, package and service of luxury brands are in essence a sign to show they attach great importance to their Chinese customers, but will not bring a substantial jump in sales," said Pei Liang, secretary-general at China Chain Store and Franchise Association (CCFA). "What Chinese consumers favor are the uniqueness and different culture brought by these European brands," he added. However, Pei said he believes that as choice expands for Chinese consumers they will be more particular when purchasing luxury goods. "Some people around me are very familiar with luxury brands of bags, clothes, shoes and watches, but know little about those of household, tableware and musical instruments which can bring them pleasure rather than just show off their spending power," Zhou Yun, a 28-year-old public relations officer, said. The luxury goods industry is experiencing an experimental phase in China and is discovering that although there is great potential in the market, it is not a top priority among Chinese consumers. Swiss firm AFG's luxury brand Warendorf kitchens, designed by French designer Philippe Starck, made its debut in Beijing this summer. "Adding new and versatile elements to the kitchen is the central point to respond to peoples' changing demand for kitchens and provide them with a unique household experience," said Starck. Warendorf doesn't come cheap. The average Warendorf kitchen is priced at 600,000 yuan, according to Ken Li, assistant manager of the kitchen division at AFG. Even sports are not immune to the lure of fashion. Beijing Yanlong imported six Ferghana horses from Central Asia to develop the horse trading market in China. Horse racing, a time-honored sport in Western countries, is still in its infancy in China. However, Zhang Zihan, general manager of Beijing Yanlong, is optimistic about the potential for horse racing in China. "Potential buyers from Shanxi and Guangdong provinces have already showed their interest. Each horse will be priced at more than 5 million yuan during auction," said Zhang. As an increasing number of wealthy people in China turn to specialist hobbies, horse breeding and horse racing are becoming more popular, following on the heels of yachting, racing cars and golf. It costs about 100,000 yuan a year to care for a Ferghana horse, including feed, veterinary services and training.

LVMH Continues Its Hermes Conquest, Increasing Stake to Over 20%

Despite objections from family-owned French luxury-goods company Hermes, global luxury retailer LVMH Moët Hennessy Louis Vuitton has increased its stake from 17.1 percent to more than 20 percent. In a filing Tuesday with the French stock market regulator Autorite des Marches Financiers or AMF, LVMH said it now holds 21,338,675 shares but that the buy-up supports Hermes’ strategy of the fashion house. The company described its stake as “strategic and long-term,” and that it doesn't seek control of the company. Measured by sales, LVMH is the world’s largest luxury-goods company, and is run by French businessman Bernard Arnault. The latest LVMH purchase makes Arnault the largest individual shareholder of Hermes. LVMH bought its new shares on and off the market, the company said in the regulatory filing with the AMF and also owns equity swap contracts worth another 0.2 percent of Hermes, known for its Birkin bags, scarves and luggage. Arnault used equity swaps to build up his stake in Hermes over the past several years, which prompted the AMF to investigate LVMH’s actions relating to the purchase last month. The Hermes family collectively owns 73.4 percent of their company and consists of fifth- and sixth-generation descendants of the company’s founder. On December 5, the family formed a limited partnership that is open only to direct descendents of Hermes’ founders and protects the company from an unwanted takeover. The company did not make a statement by close of day Tuesday. LVMH owns major luxury brands such as Louis Vuitton, Dior, Givenchy and Dom Perignon.

Take A Look at the $13,950 Victoria Beckham Bag That Sold Out In Hours

It would be putting it mildly to say that Victoria Beckham is a bag enthusiast. She reportedly owns around 100 Birkin bags. So it’s little wonder that the designer decided to create her own handbag line, and that her bags seem inspired by the classic shape and timelessness of the Birkin. Victoria Beckham is one of the few celebrities to design a successful line that has been well received by fashion critics and celebrities and the general public. She took her time and worked with the right people to create a smart line with a clear aesthetic. So it follows that her handbag line is a hit, too. Beckham paired up with former Luella and Marc by Marc Jacobs accessories design phenom Katie Hillier (who now designs her own adorable bunny-filled line) to create a collection of understated, boxy, lady like bags with a severe edge. Two of the styles–the leather and nubuck shoulder bag and the hexagonal chain bag in crocodile–went on sale yesterday at Net-a-Porter. The leather and nubuck sold out within the hour, Elle UK is reporting. The nearly $14,000 crocodile bag (pictured right) sold out by the afternoon. According to T, the collection comprises of six styles ranging in price from $1,800 to $13.950. The theme for the collection? “24 hours in the life of Victoria.” So unless you truly live a life like Victoria’s, and didn’t spring for the $13,950 crocodile purse yesterday, the full collection will be available later this month at Bergdorf’s, Neiman’s LA, and more on Net-a-Porter.

Zsa Zsa Boutique moving to 17 Court St.

It is a sentence Zsa Zsa Boutique owner Sue Stefanelli has uttered dozens of times every day for the past six years. No one is really sure how Zsa Zsa Boutique became associated with consignment. Perhaps it’s because the shop next door, Tallulah’s Fine Consignment, (as its name suggests), is a consignment shop and the former business at the location, Finders Keepers, was also a consignment shop. “I’m a women’s boutique,” Stefanelli said. “I sell new clothing, jewelry, handbags, designer handbags and gifts.” But Zsa Zsa Boutique never was and never will be a consignment shop. Stefanelli’s sunny disposition is untouched by this ongoing confusion that visits her every day in the form of shoppers who ask that question: “Is this a consignment shop?” It’s not that Stefanelli thinks the misunderstanding is insulting; she loves a great consignment shop. But the price of something new can differ from something second-hand, and customers need to know what it is you’re selling. In January, Zsa Zsa Boutique will move from 44 Main St. to a new location at 17 Court St., the former home of Knitting Treasures, next door to The Upper Crust and The Painted Lady. Stefanelli joked that she is praying the confusion over what she’s selling won’t follow her there. Stefanelli, who lives in Manomet, worked as an account consultant for Sprint for 20 years, until the company moved her division to Atlanta. She saw her chance at a new life and opted out of the corporate grind in favor of opening her own business in Plymouth. A clothing and jewelry boutique seemed the perfect fit. “My mother was a clothes horse,” she explained. For her customers, Zsa Zsa Boutique is a shopper’s paradise of nifty, artistic bargains and gifts for that special someone who’s impossible to buy for. Lovely light scarves that twist and shimmer into ringlets around the shoulders run $19 and aren’t to be found elsewhere. A handmade slipper line uses colorful brocades, and looks more like artwork than apparel. Another line of artistic, fingerless gloves and hats is made from recycled sweaters, and is truly unique and fun, as are her magnet pins that can transform a simple knit hat into a sparkly sensation. Her Okab flip-flops are a big seller in the summer because they mold to the foot, and the Sola Vida shoes are like brightly colored ballet slippers that can be carried in a handbag for those moments when the heels have just got to go. These are, clearly, not the sort of things you’ll find in a big box store. Customers love the variety and eclectic, artistic flare of shirts, handbags and jewelry that can turn a jeans outfit into a night-on-the-town ensemble in a snap, Stefanelli said. It’s a funky, refreshing, step-away from the ordinary, one customer said, as she picked up her purchase. And it’s not a consignment shop.

New Range of Evening Dress Accessories – Shoes and Bags at replica-hermes.co

Leading providers of evening wear and prom dresses, Dressespro.com, have a brand new range of accessories, including evening shoes and satchel handbags, to complement their already extensive range of prom dresses and other evening gowns. As the prom can be one of the first occasions a young lady gets to dress up, finding the right dress can be quite daunting. Fortunately, Dressespro.com have a wide range of prom dresses and other evening gowns, suitable for almost any formal occasions and have now just added a wide range of accessories to go with them. With a brand new range of prom and evening shoes, the perfect footwear for your gown or dress is available amongst their new range of fabulous styles of accessories. And need a bag to go with it? Dressespro.com also has included a wide range of satchel handbags that will complement almost any prom dress of evening gown. With so many styles to choose from, the perfect satchel bag and evening shoes for that special occasion are now just as easy to find as that perfect prom dress, and as Dressespro.com are an online dealer, you can rest assured that their prom dresses and accessories are at fabulous low prices too. Choose from a wide selection of satchel handbags, evening shoes and evening dresses, making that special occasion a delight to shop for. And with free shipping – free custom sizes – and free colour changes – there has never been a better time to order. For more information about Dressespro.com and their new range of prom dresses, evening shoes and fashion handbags, please visit their website.

Why multivitamins should not be kept in handbags

Storing vitamins in a medicine cabinet, handbag, car safe and other humid areas like the kitchen can reduce their effectiveness. Experts warn that for best results, people should keep vulnerable products like multivitamins in a cool, dry area with little humidity, reports Sade Oguntola. EVERYBODY grew up with different ways of doing things or habits that were hardly questioned regardless of whether they were right, beneficial or not. One of such is the way medications are handled. Some people keep their medications in their handbags, some prefer to carry them in the pockets of their shirts or trousers while some just spread them on the dining table or shelf. It is not strange either to see people hiding their medications in the safe of their cars or even in the cars’ glove compartment. Certainly, it is expected that drugs, especially multivitamins, be kept out of the reach of children and from deterioration, but how they are stored is equally important. Vitamin supplements came into vogue in the early 1900s, when it was difficult or impossible for most people to get a wide variety of fresh fruits and vegetables year-round. There are 13 known vitamins that humans must consume in their diet to maintain good health. But no natural food can contain all of these needed vitamins. The 13 vitamins, which are different in their chemical structures and specific functions have been classified into two groups. Vitamin A, D, E and K are labeled fat-soluble, because they mix with and are carried in dietary fats and oils. The remaining nine vitamins are water soluble. Water soluble vitamins are different from fat soluble vitamins. Water-soluble vitamins are not stored to any degree in the body. Therefore, regular dietary intake is necessary. Also, when large amounts of a water soluble vitamin is consumed, the excess is readily excreted. Toxic effects from over-consumption are less likely to occur. Water-soluble vitamins are more easily destroyed by contact with heat, light and basic substances, such as baking soda. They are also easily leached from or soaked out during food preparation using water. Also, improper processing, preparation and storage of foods may lower their water soluble vitamin content. Ideally, you should receive all your nutrition from high quality unprocessed foods. Unfortunately, if you are like most people, you may find it impractical or impossible to eat right all the time and so rely on supplementing your meals with a quality multivitamin every day – just to be sure. Irrespective of why the multivitamins were prescribed for use, whether it is to promote optimal health, boost immune system or provide support for defense against a growing number of health concerns, improper usage, storage or handling of these vitamins could turn out to be a waste of money, not beneficial, or harmful. According to Mrs. Doyin Oduntan, a deputy director, Pharmaceutical department, University College Hospital, (UCH), Ibadan, Oyo State, although these vitamins and supplements might have been brought from reputable sources, their handling right from the point of purchase until the last tablet or capsule is taken is very important. Multivitamins and supplements ought to be stored at below room temperature and in a cool as well as dry place. Mrs. Oduntan explained that “most vitamins and supplements have coating that are sensitive to heat and moisture, and so this affects their effectiveness because they could easily be denatured.

Hot Spring 2011 Wholesale Handbag Trends

With the year almost over, and the holiday craze just about behind everyone, it’s time to focus on the future. It’s been said that those who don’t learn from history are doomed to repeat it, but in the fashion world of handbags, that might be even more of an abject lesson for all of us to learn from, as the newest and hottest styles for spring 2011 are rolled out. The fact is that there are new designs being produced all the time, and those who fail to follow the trends are doomed to be left with immovable inventory. Here then, is a glimpse into the future of fashion handbags for next year’s fashionistas – and perhaps a brief history lesson for wholesalers who want to be ahead of the curve as they ramp up their own collections to mirror the trends. So much has been said about Karl Lagerfeld’s designs that were inspired by the avant-garde movie “Last Year at Marianbad,” that the ragged edges and lattice perforations that have become trademarks of his collection have been called “hallucinatory” by Vogue, and “classic with an odd twist” by his fellow designers. In truth, his bag is simply a classic flap design with extra supple leather (no fur, though!) held inside a frame that provides excellent contrast, that gives the whole look a bit of a coin-box feel. This will surely influence designers all over the world, as clutch-style and small handbags will be making their way onto the streets, perhaps in response to the well-used past fashion that featured oversized bags and giant duffles, totes, and hobos in a variety of loud colors and blingy touches. Fur is an item on the endangered species list for handbags this season, as well. While it will continue to show itself in a number of applications on classical designs for everything from menswear to women’s couture, there will definitely be a reduction in the amount of real fur that is applied to handbags, especially those priced in the mid-retail range. Wholesalers who have been waiting for the non-fur revolution have something to cheer about this time around, as their wares become highly sought-after in the face of activists with no stomach for the genuine articles. Keeping an eye on celebrities like Kanye West, Beyonce, Madonna and other crème de la crème of A-listers will lead to discoveries in the way of trends, as they have already shown some interest in classy designer handbags that follow styling of a “Crystal Lovers” limited edition bag from Balmain. Gold-tinted leather with bronze metal hardware and clasp closures make for some hardware with a statement in mind, but the body of the bag is completely covered with gold colored Swarovsky crystals, too. While the desire to land items that register on the “bling scale” might be dying down, there’s no shortage of demand for bags with brilliance. Unique materials will be getting lot of attention as well, with things like macramé and Chinese knotting being in the front of the surge towards attention-getting style that requires a closer look than last year’s fashions. Of course, the ever-present homage to Luis Vuitton will continue to reign supreme, as designer Marc Jacobs pulls out all the stops in a year that rewards subtlety in designs, and gives more acknowledgment to the small details in a design.

‘Fake’ Christmas Bags, anyone?

“Wow, that’s an LV,” you rave over your officemate’s new bag, but suddenly noticed how close to the edge of the flap the Louis Vuitton logo is. Then you know in your heart, it’s not the original. How do you know if the bag is fake? Poor workmanship. That’s the first telltale sign. China Made products are proliferating that even an iPad has now an iPed. A Blackberry now has a plastic “housing” and more “imitation” or “replica” brands are breeding in malls like 168, Greenhills, “tiangge” and bazaars, particularly during Christmas shopping season. For most girls, wearing one of those coveted brands is eternal sunshine for their soul. Hence, fake stuff is a lure to their senses. Mind you, they ultimately believe as well that by giving fake branded presents will earn them “pogi” points. So they “beg, steal or borrow” to get where the fake brands are. Here comes the Purse Party. There is a growing curiosity in a social hullabaloo called “Purse Party”. But be wary, it is casual much more like an afternoon tea party with upper-middle-class women in attendance. Here, they exchange banter over fake goods. Yes, you hear it right! Fake brands lining up in your face such as Chanel, Gucci, Hermes, Louis Vuitton, Fendi, Cartier, Christian Dior, Marc Jacobs, Balenciaga, Lanvin and Venetta, you name it they have it. In the United States, such a party is now getting some attention, perhaps because of the bad economy. I politely declined a long ago invite in one of these parties because I stand by my “buy-only-the-original” principle. Since I don’t have the “original” money to buy the luxury goods, I buy Filipino brands that can be at par in quality with these infamous names.

POR CONSENSO O INTERNA, EL PARTIDO SOCIALISTA TENDRÁ UN CANDIDATO PROPIO

Lo que sí es seguro en el PS es que no resignarán posiciones de poder en el esquema del Frente Progresista sin dar batalla electoral. “El socialismo presentará una candidatura a gobernador”, confirmó a Diario UNO el ministro de Gobierno y Reforma del Estado. De esa manera, el dirigente provincial dejó en claro que las diferencias propias no desmembrará a la tropa a pesar de una inminente lucha interna, ya que el horizonte es seguir teniendo a un gobernador socialista. Por lo menos ésa es la pretensión política. En ese sentido, para la dupla Binner-Bonfatti la tarea no es sencilla. Por un lado, está abierto el frente interno con Rubén Giustiniani y, por el otro, la pelea electoral con los radicales que promueven la postulación del intendente santafesino Mario Barletta. Dicho escenario político no desmotiva, sino que genera suficiente confianza para lo que pueda devenir. En tanto, con el senador nacional y otros sectores del PS el gobernador santafesino quiere llegar a un acuerdo antes de que termine la primera quincena de enero. La idea es –como sucedió en los últimos años– resolver las diferencias puertas adentro y no exteriorizarlas, más allá de los chispazos que son públicos y notorios. “Hasta febrero tenemos tiempo para buscar un acuerdo”, agregó el ministro de Hermes Binner, teniendo en cuenta que el cierre de listas para las elecciones primarias abiertas, simultáneas y obligatorias sería el 21 de febrero próximo. “Queremos seguir gobernado Santa Fe, no por capricho, sino para seguir garantizando derechos, porque cuatro años es poco para seguir cambiando la cultura política en la provincia”, fue lo que dijo Bonfatti recientemente en un acto que se desarrolló en Santo Tomé, para graficar que a la gestión de Binner hay que darle continuidad, e implícitamente se ubicó en ese lugar al ser vivado por la multitud presente y también –aunque más mesurado– por el intendente local, Fabián Palo Oliver, uno de los históricos opositores al radicalismo de Barletta. Por su parte, Rubén Giustiniani tiene lógicas expectativas de presentarse para competir, porque a diferencia de las elecciones legislativas de 2009, donde su imagen carecía de conocimiento en la población en contraposición a la figura de Carlos Reutemann, esta vez goza de dicho valor agregado y un piso de potenciales votantes que supera el 20 por ciento, según indicaron dirigentes del sector a Diario UNO. El senador nacional pondría primera para salir a recorrer la provincia después del 15 de enero. Sólo están esperando que desde la Casa Gris alguien llame para ver cuáles son los pasos a seguir dentro del PS: internas o consenso.

Dezvoltatorii vor continua sa depinda de ”pomenile” guvernamentale

Anul 2010 a fost primul in evolutia recenta a pietei imobiliare in care dezvoltatorii nu au lansat niciun an­sam­blu rezidential de anvergura (cu peste 200 de unitati locative). Situatia se va mentine grava si in 2011 intrucat sin­gu­ra cale de sustinere a tranzactiilor cu lo­cuinte va fi oferita de stat prin con­ti­­nuarea programului „Prima casa”. Totodata, vestile dinspre sistemul ban­car nu sunt mult mai imbucuratoare pentru dezvoltatorii care pregatesc noi proiecte rezidentiale, deoarece bancherii sunt foarte preocupati acum sa lichideze stocul construit. Dar sa nu intelegem gre­sit, nimeni nu se asteapta la solduri rezi­dentiale. Pentru bancheri, lichidarea stocului nou construit presupune trans­formarea programului „Prima casa” intr-o anexa ipotecara a proiectelor aflate curent in portofoliul bancilor comer­cia­le. Potrivit informatiilor lacunare oferite de Bogdan Dragoi, secretar de stat la Ministerul de Finante, in cadrul unui seminar tematic, bancile au trimis un set cuprinzand 20 de propuneri de modi­fi­ca­re a programului „Prima casa”, prin­tre ofertele bancherilor fiind mentionate majorarea plafonului garantiilor de la 57.000 de euro la 100.000-120.000 de euro si impartirea responsabilitatilor de garantare intre banci si FNGCIMM. va continua, insa nu stim daca va fi «Prima casa 3» sau o replica la «Prima casa 2», ramane de vazut”, a afirmat Dragoi. El a precizat ca MFP vrea sa implice mai mult sistemul bancar in urmatoarea etapa a pro­gra­mului. Planurile bancilor in ceea ce priveste „Prima casa” explica reticenta mentinuta de sistemul bancar in cazul finantarii unor noi dezvoltari reziden­tiale. Aceasta reticenta este cauzata in mare parte de ansamblurile rezidentiale scumpe nevandute, finantate de banci, ne-a declarat reprezentantul unui dez­vol­tator local, care de sase luni incearca sa obtina finantare pentru un proiect de locuinte ieftine. „Majoritatea bancilor au investit in proiecte rezidentiale scumpe si care acum ingroasa statisticile locu­in­telor nevandabile din Bucuresti. Cred ca bancilor le este frica sa finanteze noi proiecte care sa ofere calitate egala cu oferta actuala la preturi mai mici, pen­tru ca isi pun astfel in pericol vanda­bilitatea proiectelor deja construite”, declara sursa citata.

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Hermes can’t deal with LVMH by stiffing minorities

The Hermes family thinks it has been wronged. But in its fight against an unwanted shareholder, it seems intent on sacrificing the French luxury group’s remaining minority investors. To fend off the unwanted advances of larger rival LVMH, which stealthily amassed a 17 percent stake in the Birkin bag maker, the family is planning to pool its shares in a holding company that will control more than 50 percent of the group. It has asked the French regulator to exempt it from rules that would trigger a formal bid for the whole company. But there are no compelling reasons for the regulator to agree. Minority holders shouldn’t pay for the supposed sins of Bernard Arnault, LVMH’s owner. The family, whose members collectively own about 73 percent of the shares, has always maintained that it is in firm control of Hermes. Still, it was shocked and worried by news of Arnault’s intrusion back in October. Those family members who are actively involved in the company say they want Arnault out. Others seem to have sold some of their shares to him. Either way, the plan to consolidate their holdings seems to show the family’s control of the group was not that tight after all. None of the family shareholders own more than 5 percent of the company, and they aren’t currently obliged to act together. As a result, the family’s argument that the new holding company doesn’t really change anything is spurious. Indeed, the plan would involve participants pledging part of their future dividends to the new vehicle, so that it has cash to buy out those family members who might want to sell. Arnault aside, Hermes minority shareholders own no more than 10 percent of the company — their shares are worth around 1.6 billion euros at current market prices. The family has profited handsomely from its investment: the company’s shares are up 60 percent this year alone. The Hermes clan can surely spare a dime to give the silent witnesses to the brawl the option of cashing out.

LVMH Holds More Than 20% of Hermès

French luxury-goods giant LVMH Moët Hennessy Louis Vuitton has increased its stake in rival Hermès International to more than 20%, increasing the tension in an unwelcome assault on the French maker of pricey handbags, scarves and other luxury goods. In a filing Tuesday with the French stock market regulator, LVMH said it now owns 20.2% of family-controlled Hermès. On Tuesday, LVMH left the door open to the further purchases of Hermès shares. In the filing, the company reiterated that its swoop on Hermès is friendly and it supports the strategy of the fashion house, which is known for its leather goods. The company characterized its stake as "strategic and long-term," and that it doesn't seek control of the company, which got its start making saddles back in 1837. But the family behind Hermès doubts the sincerity of LVMH Chairman Bernard Arnault, who has expanded his luxury-goods empire by pouncing on family businesses, dividing the clans and seizing control. LVMH is the world's largest luxury-goods company, measured by sales. Bertrand Puech, who heads one of the main branches of the Hermes family, has asked Mr. Arnault to sell his shares. Hermès Chief Executive Patrick Thomas called Mr. Arnault "an intruder in our garden." Mr. Arnault, one of France's most aggressive corporate raiders, surprised the family behind Hermès two months ago by announcing he had racked up a 17.1% stake in their company. LVMH bought its new shares on and off the market, the company said in the regulatory filing with the Autorite des Marches Financiers, or AMF. In addition, LVMH said it owns equity swap contracts worth another 0.2% of Hermès. Mr. Arnault used equity swaps to stealthily build up his initial stake in Hermès over the past several years, a move that caused the AMF to open an investigation last month into LVMH's move. The family, which says it controls 73% of the maker of Kelly and Birkin handbags, is determined to remain independent. A limited partnership that is open only to direct descendants of Hermes' founders protects the company from an unwanted takeover. But despite this shield, the family earlier this month announced plans to reinforce its defense by creating a separate holding firm comprising more than 50% of the company. The creation of the holding company is pending AMF approval.

Luxury rules rpelicashermes.com

ANYTHING below Hermes and Chanel is rubbish.” I burst out laughing. I am in a well-known consignment/second-hand boutique and talking to the owner on whether gently-used/pre-owned handbags were doing well, and she comes out with that gem. She adds that, no offence to the other brands, the fact remains that when it comes to resale value, if it’s an Hermes Birkin/Kelly or Chanel, whatever the item, you cannot mark it any less than what it’s worth. And you’ll probably get more than the marked price because it is all about branding, branding, branding. Apart from the fact that they are synonymous with the word “luxury”, their attention to detail, craftsmanship and their fiercely-guarded “name” allow them (pardon the pun) the luxury of setting a price because there will always be a willing buyer. When a luxury brand allows itself to be hijacked, mass-marketed and reduced to nothing more than a mere symbol, no one is going to bother paying top dollar for it, especially when it has been used. You think your “limited edition” bag from whichever well-known luxury label will sell? Think again. Limited editions appeal to a certain market segment, one that can obviously afford something like RM30K for an exotic skin, furry, prickly, whatever. This market segment does not shop for pre-owned goods unless – and here you have it – it’s a Birkin or Chanel in a hard-to-find colour, material or design. Apart from the fact that they are synonymous with the word “luxury”, their attention to detail, craftsmanship and their fiercely-guarded “name” allow them (pardon the pun) the luxury of setting a price because there will always be a willing buyer. When a luxury brand allows itself to be hijacked, mass-marketed and reduced to nothing more than a mere symbol, no one is going to bother paying top dollar for it, especially when it has been used. You think your “limited edition” bag from whichever well-known luxury label will sell? Think again. Limited editions appeal to a certain market segment, one that can obviously afford something like RM30K for an exotic skin, furry, prickly, whatever. This market segment does not shop for pre-owned goods unless – and here you have it – it’s a Birkin or Chanel in a hard-to-find colour, material or design.

For hire: Designer handbags replicashermes.com

As regular readers of any fashion magazine will know, each season sees the introduction of a new ‘it’ bag, often seen on the arm of Hollywood celebrities. But such style statements come with a hefty price tag. One of the most famous ‘it’ bags, the Hermes Birkin bag, named after actress Jane Birkin, has a waiting list of anywhere between eight months and six years, and the basic version costs a whopping 5,000 euros. While designer handbags are available to buy in Helsinki’s high-end fashion boutiques, for most people wishing to emulate designer trends the solution is usually to buy cheaper “look alikes” – not to be confused with fakes, of course. But now, budget-conscious Finnish fashionistas can get their hands on the real thing – by renting one. Entrepreneurs Susanna Pouttu and Marika Kivimurto started their designer-handbag rental business Vesca last year, inspired by seeing the Sex and the City movie, where Carrie’s assistant, played by actress Jennifer Hudson, decides to rent a designer handbag because she can’t afford to buy one. Pouttu and Kivimurto, who work in the interior-decorating and construction industry, admit to being fashion addicts, and say that there are plenty of other Finnish women like them. “I think people are more interested in higher-quality products these days, and they also know more about fashion than they used to,” says Pouttu. “We’d heard of fashion-rental companies in other countries like Sweden and the UK, but were disappointed that nothing like this was available in Finland. We decided to set up Vesca as a way of helping women like ourselves, who love beautiful things.” Staying up to date Vesca’s customers are typically 20-40 years old and come from all walks of life. “They love fashion, but they’re also normal people, who want to know how it feels to carry their dream handbag,” Pouttu explains. “Some are adventurous and want to take risks with their style, while others want to look polished. The right bag can complete a look, and make even a very simple and inexpensive outfit look good.” Customers first register as members of the Vesca club for a minimum of three months, following which they can opt to rent their choice of designer arm candy by the week or month. Members can then choose from a range of coveted bag designers including Burberry, Gucci, Louis Vuitton, Prada, DKNY and Mulberry. Prices range from around 39 euros for a month’s worth of a Guess handbag, to 186 euros for a Louis Vuitton “Manhattan”, adorned with its distinctive monogram print. “Designer bags easily cost more than 1,000 euros. But even if you can afford to buy one, you have to be certain that it’s right for you because it’s such a big investment. By renting, you can try it out and, if you love it, you can also buy it from us,” Pouttu explains. Most women have wardrobes of unworn clothing and accessories, she adds. Renting allows women to stay up to date with the trends and change their wardrobe regularly without spending a fortune, and without further accumulation. Making the right impression Some of those who rent from Vesca may be in need of an accessory for a special occasion, or perhaps hoping to make the right impression at a job interview or important meeting. Others may look on a designer bag as a status symbol, a way of emulating the style of their favourite celebrity, or feeling part of the high-fashion world depicted in Sex in the City. Others still, says Pouttu, may simply appreciate quality and beauty in an accessory that they can use every day. Whatever the motivation, the demand from an increasingly fashion-conscious population has already secured success for online fashion-rental companies elsewhere in Europe. Pouttu and Kivimurto intend to continue building their current customer base in Finland, and say the biggest challenge is to win trust with a Finnish public that is still somewhat cautious about buying or hiring luxury goods through the internet. “All of our bags are certified 100% authentic, but people in Finland are wary about buying designer products without seeing them in the flesh first, because there are so many fakes out there in the market,” says Pouttu. Fashion-conscious women will remain the main clients, but the two fashion entrepreneurs don’t rule out expanding into the male fashion market: “I think women understand a bit better than men the attraction of a designer handbag. I compare it to buying a sports car – you don’t need a luxury car to get from A to B. We don’t have any man-bags in our collection at the moment, but maybe in the future!” Read more: www.replicashermes.com

Why Claudine may have to say goodbye to London

DON'T worry Claudine, London probably isn't all it's cracked up to be anyway. Ireland's premier WAG Claudine Keane (27) may be the epitome of the footballer's wife, but she is about to get a harsh dose of reality. As her husband Robbie (29) is rumoured to be making a move to Birmingham City FC, the former beauty queen will be swapping Oxford Street, the West End and Chinawhite for The Merry Hill Centre, the Hippodrome and Subway City nightclub. The mum-of-one has embraced the WAG lifestyle with gusto, and may be just the injection of glamour that Brum needs. But with every big move comes a lifestyle adjustment. This Dublin beauty may be used to the likes of celebrity hairdresser Stuart Philips grooming her locks, but Birmingham has salons too -- however, your chances of running into Alex Gerrard and Carly Zucker are slim to none. Birmingham City are hoping to sign the Tottenham striker ahead of arch-rivals Aston Villa, and Robbie is already said to be out of favour with Spurs manager Harry Redknapp, who loaned him to Celtic earlier this year. And when her husband was on loan in Glasgow, she was conspicuously absent from his side, instead choosing to spend her days in London with their young son Robbie (2). At the time, she defended her choice saying: "It would be wrong to bring Rob up north all the time, it wouldn't be fair to him to keep him in a hotel room for the weekend or whatever so it's better that we stay where we are while his dad's working." Now, as the date nears, the question remains: will glamorous Claudine swap the bright lights of London for the er, unique charms of Birmingham? As her modelling career continues to soar, having been named the face of Ultimo lingerie once again, she is likely to stay put in the English capital. While she insists she is the antithesis of a WAG, she is definitely the poster girl for footballers' wives. She made headlines when she debuted her new €6,300 Hermes Birkin bag in Dublin earlier this winter, an item that might stick out among Birmingham's elite. As the accessory is worth nearly the average person's yearly rent, she has finally joined fashion's elite and beat the four-year waiting list. So, there is one consolation prize in this -- if she does choose to stick to London, at least she has something to clutch on to at night.

Piece of old croc could put you in pound seats

An elderly but extremely handsome woman in pink, trailing a fur coat and a very young husband behind her, wafts in to Christie’s grand hall and tries to find a seat in the auction room. There, the crowd - mostly men in suits and women wearing silk scarves and expensive blow-dries - sit in reverential silence, their faces hardened in focus. All of them are here to buy one thing. No, not a classical painting nor an antique vase - they’re here for a handbag. So, what’s so special about this bag? Victoria Beckham is rumoured to own 100 of them worth £1.5 million (R16.1m), Lady Gaga enraged fashion lovers across the world by defacing one, there’s a six-year waiting list to have one made, but now you can own your very own (albeit secondhand) version… if you’ve got a spare £49 000 (R527 558), that is. Yes, you read that right. At Christie’s, an anonymous bidder paid £49 000 for a secondhand bag. But this was no ordinary bag: this was a limited-edition Hermes Birkin bag and, it appears, women will do (or pay) whatever it takes to get one over their arm - even in the middle of a recession. Forget the British Fashion Awards, the bi-annual auction of Hermes bags at Christie’s is the real fashion event of the year. Fifty-one handbags went under the hammer, and the Rouge Moyen alligator Birkin, 1998, which sold for £49 250, broke Christie’s records as the most expensive handbag ever sold. “The most sought-after bags are always the Birkins and Kellys (named after actresses Jane Birkin and Grace Kelly),” says Pat Frost, Christie’s director of fashion and textiles. “And the interesting thing is that yes, of course, they’re bought by wealthy people, but we don’t see the same people coming back over and over again. The mentality seems to be that you search for your perfect Hermes bag and once you find it, you’re done.” So why the eye-watering price tags? “The really expensive bags are the ones made of exotic leathers: crocodile, lizard, alligator and ostrich. “With the croc bags, which command the very highest prices, the paler the colour, the more the bag is worth because it’s extremely hard to dye the skins successfully. “In addition to that, there is only a limited supply of crocodile in the first place. “Hermes don’t give us the details of their distribution and production but, for example, we know that the Sloane Square store gets only four crocodile bags to sell off the shelf each year.” And the buyers at the auction know that all too well. An elegant woman in her 60s, dressed in purple, fought with an internet bidder to snap up a black matte alligator Birkin for a mere £32 450 - an anniversary present from her husband. “I’ve always loved Hermes bags, I had my eye on a few here today. I particularly wanted crocodile or alligator skin - they’re almost impossible to come by,” she said. Right. Understood. Material limited and production tricky - but you could say the same thing about state-of-the-art computers or cars, and they don’t seem to be holding their value so well. In fact, the Hermes bag is almost unique in its position as a “recession-proof status accessory”. While most designers have conspicuously not shown “It” bags on their catwalks of late, the Hermes bag fever continues unabated. “The point about Hermes bags is that they’re more than fashion accessories,” says Rebecca Lowthorpe, Elle magazine’s fashion features director. “They’re more comparable to collectable works of art. We are talking about the absolute pinnacle of heritage luxury… We just wouldn’t be having this conversation about a bag made by, say, Chanel.”

Christmas gifts that grow in value

Posters, stamps, coins, books and medals – presents that increase in value needn't be dull. In fact, chose well, and even toys can prove to be an investment. Dinky toys are very popular with collectors at the moment, as are Corgi and Matchbox toys and Hornby locomotives. If it's pre-1970 and in good condition, you may have a collector's item on your hands. When Dinky toys were first sold they were produced without boxes, but packaging became more detailed in the Sixties and toys were produced to tie in with television programmes such as Thunderbirds, so the packaging adds significant value to toys from this era. The boxes can even be worth more than the toys – in the case of a Batmobile from the Sixties, for example, 60pc of the value is in the box. Pop and rock memorabilia became sought after as collectables in the Eighties and the value of items have generally increased dramatically over this time. The most expensive and probably well-known sale in this sector was John Lennon's piano on which he composed 'Imagine'. It was bought in October 2000 by the singer George Michael for a hammer price of £1.45m, with an extra 15pc commission bringing the total sale price to £1.67m. Though this sector generates some high end items, music memorabilia is a good starting sector for the budding collector or investor. Neil Roberts, head of the department for Popular Culture for auction house Christie's points out tickets and flyers as

Hermes Shareholder Does Not See Delisting: Report

A bid to delist French leather bag maker Hermes shares from the stock exchange has its charm but would be very costly, a family shareholder and top manager said in a newspaper on Sunday. Hermes is setting up a holding company to fend off rival LVMH , which in October revealed it had 17.1 percent of Hermes. The new holding needs clearance from French market watchdog AMF that it does not have to bid. "In effect, we did not go on the bourse, as is usual, to get funding, we don't need it, but to assure family shareholders that their shares were liquid," Guillaume de Seynes said in Italian business daily Il Sole 24 Ore. De Seynes a descendant of Thierry Hermes, the company's founder, is operational number 2, the newspaper said. "So the idea has a charm, but as you yourself say, very high costs. And then we have a lot of faithful and happy individual shareholders. We would not like to betray them," he said when asked by Il Sole about a bourse exit. The buy-out of other shareholders would cost up to 4 billion euros ($5.3 billion), the newspaper said. Hermes has a market capitalization of 16.6 billion euros. De Seynes made no comment on the new holding and a special AMF exemption from having to bid for Hermes. The company says the move does not change control of Hermes. The French Adam minority shareholders association has said it would appeal any exemption granted by AMF that the holding does not have to bid. In the interview, De Seynes said Hermes has a long-term strategy, which does not involve growth in volumes at any cost and which favors quality and creativity, adding this strategy requires a stable set of shareholders.