MILAN FASHION WARMS UP FOR FROSTY AUTUMN/WINTER 2012. Gucci will kick off Wednesday, with Giorgio Armani and Prada also among the 72 catwalk shows drawing thousands of buyers and the fashion press. All will be hoping 2012 will not be a repeat of the 2009 financial markets meltdown which hit the luxury industry hard. [REUTERS]

FISKER KARMA: THE WORLD’S MOST INTERESTING CAR. The $100,000 Fisker Karma luxury plug-in hybrid isn’t perfect, but it’s perfectly fascinating in its ambition and execution. [WSJ]

HOME DEPOT 4th QUARTER BEATS ESTIMATES. The world’s largest home-improvement retailer, reported fourth-quarter profit that exceeded analysts’ estimates as warmer weather helped spur an increase in residential spending. [BLOOMBERG]

HONG KONG INVESTORS BUYING SONIA RYKIEL. Fung Brands, a luxury investment firm backed by two Hong Kong billionaires, is acquiring 80% of Rykiel, one of the last remaining independent fashion houses in France. [NYT]

AD OF THE DAY: LEXUS. The automaker builds a racetrack in the shape of ‘SI’ swimsuit model Tori Praver. [ADWEEK]

MACY’S TO HIRE 4,000 FULL TIME EMPLOYEES IN 2012. Macy’s needs more buyers for its fast-growing online business and more store managers, among other positions it wants to fill. Online sales rose 39.6 percent last fiscal year and should top $2 billion this year. [REUTERS]

WHERE GEN Y WILL SHOP IN 2012. Men’s apparel sales are expected to rise nearly 8.3 percent in the first quarter, far outpacing other retail categories And they’re not just buying jeans and t-shirts, guys are investing in accessories like bracelets and bags. The category’s sales grew 14 percent in the last half of 2011, to about $6 billion. [FORBES]

MEN’S INTEREST IN FASHION GROWING. With the luxury menswear market growing at about 14 percent a year, or nearly double that of luxury womenswear, according to consultancy Bain & Co., the financial stakes are high. [GMANEWS]

CABELA’S BIG 4th QUARTER. Outdoor-gear retailer Cabela’s Inc posted quarterly results above Wall Street estimates, helped by improved gross margins. Shares of the company were up 7 percent at $30.40 in premarket trading on Thursday. Revenue rose 5.4 percent to $983.7 million. [REUTERS]

LOOK OUT FOR APPLE AIRPLAY. Apple is going to anger a lot of big media companies with AirPlay on the Mac. [BUSINESSINSIDER]

NEW RICH FUEL LUXURY BOOM. The world’s biggest luxury-goods purveyors are coming off a blockbuster 2011 with even more confidence for this year as emerging markets power seemingly relentless demand. [WSJ]

JOBS, FACTORY DATA STRENGTHEN GROWTH OUTLOOK. The number of Americans filing for new jobless benefits fell to a near four-year low last week and factory activity in the Mid-Atlantic area grew in February, more evidence of sustained momentum in the economy. [REUTERS]

FASHIONISTAS SET STYLES OFF THE CATWALK. Stylists, bloggers, former models and budding fashionistas aimed to make a splash off the runway as they descended upon New York Fashion Week this week, flaunting their own original looks and aiming to be snapped by photographers. [REUTERS]

PORSCHE’S MAGNIFICENT FIRST STAB AT THE NEW 911. This car is nearly 14 seconds faster around the Nürburgring than the outgoing model, which is seriously more than one would expect. [WSJ]

LOOK OUT FOR AEREO. Barry Diller backs company with new way to crush cable TV. [BUSINESSINSIDER]

THE DEEP POCKETS OF FASHION WEEK HAVE MADE NEW YORK CITY A FORTUNE. Mayor Bloomberg said Monday that the city takes in nearly $1 billion annually from the twice-yearly shows at Lincoln Center. The city expects to bring in an estimated $865 million from this year’s Fashion Weeks. That’s a 12% increase from the $773 million in 2007. [DAILYNEWS]

MEN’S BEAUTY MUST-HAVES. Our guess is that #4, anti-aging balm, has a bright future ahead. [GUARDIANUK]

BEHIND CLOSED DOORS AT SOHO HOUSE. Last month, the champagne corks were popping as majority owners Richard Caring, the owner of a string of London restaurants, and the club’s founder Nick Jones announced they had sold a majority stake in the business to Ron Burkle, the US billionaire. [FINANCIALTIMES]

THE REAL COST OF VALENTINE’S DAY. It gets dissed as a holiday manufactured by retailers, but there’s no dissing the money that flows on Valentine’s Day. Consumers will spend more than $17.6 billion, with $10.4 billion of that going to gifts for a significant other or spouse. [BLOOMBERG]