Richemont Departure Signals Fashion Becoming Accessory

Richemont Departure Signals Fashion Becoming Accessory

Qilai Shen/Bloomberg

Shoppers look at clothing and accessories at a Chloe shop in Shanghai. Particularly disappointing has been Chloe, whose founder Gaby Aghion pioneered the concept of luxury pret-a-porter, or ready-to-wear, in the 1950s, becoming the first company to sell high fashion off the rack instead of tailored to individual customers.