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Article: IS WALL STREET BAD FOR FASHION? ONLY A FEW MILES APART ON THE MAP, THE GAP DIVIDING SEVENTH AVENUE AND WALL STREET CAN APPEAR CONTINENTAL IN SCALE.
- Article from:
- WWD
- Article date:
- April 22, 2002
- Author:
CopyrightCOPYRIGHT 2002 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The dynamics of Wall Street and fashion are like denim and cashmere - sometimes they work great together and sometimes they don't.
Wall Street's expectations are that industry executives have a vision that they can execute consistently quarter-in, quarter-out. Industry veterans, on the other hand, complain that Wall Street never seems to give them any breaks - even when they do well in a difficult retail climate.
"By and large, most fashion-related firms really don't appear to have any recognized legitimacy," Emanuel Weintraub, a management consultant at the firm that bears his name, says. "They've never gotten the multiples that they should have, and ...