Last week, the first retrospective for fashion house Maison Martin Margiela opened in Mainland China. The exhibition shows clothing from Margiela, as well as renderings of his retail locations, and installations from other side projects (a Margiela car cover, for instance). Executives from the house were present at the opening, wearing the signature lab coats, though they wouldn't give WWD (or anyone) a quote.
H&M, or Hennes & Mauritz (as it appears on your bank statement), made some money this week. Their second quarter saw profits. Meanwhile, to cope with the recession, Wal-Mart has decided to cut their year allowance to 13-14 billion from a projected 13.5-15.2 billion.
Proenza Schouler's pre-Fall collection went up on e.Luxury this week, 15 looks of which are exclusive to the ecommerce site. We'll be writing more on that later, this piece of news deserves a bit of oohing and awwing (not to mention a telephone tag).