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April 11, 2005


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Two fashion labels — the revived Mugler brand and the British-born Gareth Pugh — were in the same territory as the Paris season clicked onto spring/summer 2012. Or make that the year 2099 as these shows streaked into the future.

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Mr Reiss says he has not been surprised by the victims. "People are much more discerning now about how they spend their money and you have to keep moving forward as a brand. If you don't have that sense of uniqueness or give customers what they want, you are going to struggle. You have to be adaptable and understand your customer. It's a tough world out there."

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The Berkshire Hathaway chief executive said he has bought nearly $11 billion of International Business Machines Corp stock in the last eight months, building a roughly 5.5 percent stake that potentially makes him the largest shareholder in the company.

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