Brunello Cucinelli Reports Solid YTD 2024 Revenue Increase of 12.4%; Q3 Only 9.2%
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Miu Miu CEO Benedetta Petruzzo Moves to Christian Dior Couture as Managing Director
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Given the stellar performance of Miu Miu in a post-COVID luxury landscape, it has to be a crushing blow to lose Miu Miu CEO Benedetta Petruzzo.
Delphine Arnault, chairman and CEO of Christian Dior Couture has confirmed Petruzzo’s arrival on Oct. 15.
"I am convinced that Benedetta's talent and leadership will be major assets in the continued development of Dior's activities and its international influence," Arnault said. "Her expertise in the luxury market will persist in enhancing the desirability and success of Dior. Together, with the excellence of the teams in place, we will carry on building the future and strengthening our organization."
Read MoreGucci's Fall 2024 Campaign Prompts AOC's Research Into Lobotomies for Women
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AOC has searched for days to find something positive about Gucci’s Fall 2024 Campaign [IG] with models Alaato Jazyper, Jiahui Zhang and Loli Bahia. Riccardo Zanola acts as artistic director in images styled by Alasdair McKimm and lensed by David Sims [IG]. / Hair by Duffy; makeup by Lucia Pieroni
Gucci Creative Director Sabato De Sarno sits atop this campaign, as he methodically and slowly ponders his way out of the red-ink mess that is today’s Gucci brand.
Global luxury brands Gucci and Burberry are vying for first place in this sea of red ink. Gucci — with its strong, leather-goods business — should not be in the same car-wreck pileup that includes Burberry, who does not have iconic handbags.
Not only has the Fall 2024 Campaign prompted AOC to investigate the history of brain lobotomies as a medical treatment for women disproportionally. Anne’s very high-grade, brain wiring just recalled the extreme degree of misogyny in the Italian Futurist movement, launched in 1909 by the Italian poet Filippo Tommaso Marinetti. Read our insights on this subject.
When professionals cut open a luxury brand patient with a big heart and leave it bleeding profusely on the operating table for nearly two years, death is a real possibility.
Read MoreConspiculous Luxury Consumption in China Challenges Growing Income Inequality
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Top model He Cong graces the pages of Marie Claire China’s [IG] June 2024 issue. The Hunan-region beauty is styled by Austin Feng in red-inspired, fashion elegance lensed by Zhong Lin [IG].
China’s Monitoring of Flaunting Money on Social Media
This month [May 2024], China’s new ‘Clear and Bright’ campaign swung into action on social media. The campaign vows to crack down on influencers who create "ostentatious personas to cater to vulgar needs, and deliberately display extravagant lifestyles filled with money".
Jing Daily weighed in this morning, writing that across Chinese social media platforms like Weibo, Tencent, Douyin, and Xiaohongshu all reflect suspended accounts this week.
China Tackles Its Growing Income Gap Culture
The drive to reduce ostentatious displays of wealth [or internet cleanup, as Jing Daily calls it] “is part of a larger effort by Chinese authorities to curate and control social cultures to tackle China’s widening income disparity and wealth inequality.”
Read MoreIs Hermés Overtaking Louis Vuitton a Click-Bait Pipe Dream? Or a Scientific Math Possibility
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Writing for B of F, Kit Rees cites Citibank analyst Thomas Chauvet’s April 12 note making the case that “Hermès has potential to surpass LVMH’s flagship Louis Vuitton in the coming years.”
Chauvet is a Managing Director heading up Citi’s European Luxury Goods Equity Research team in London. He argues that based on Hermés, best-known for its Birkin bags, hitting the “symbolic” €20 billion ($21.3 billion) level by 2027 or before, they will be in a position to overtake Louis Vuitton, who reached that milestone in 2022.
How this argument of Hérmes overtaking Louis Vuitton by reaching $21.3 billion in 2027, when Louis Vuitton compounded at +10% 2023-27 gives us $34.3 billion in 2027 is absolutely a key reason why I don’t have Thomas Chauvet’s job.
But read me anyway.
Read MoreLVMH Reports Record 2023 Financial Results Adding $30 Billion to Market Value
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Louis Vuitton, Moët & Chandon and Hennessy [LVMH] reported 2023 year-end sales of 86.15 billion euros [$93.46 billion], representing a 10% organic increase in fourth quarter and a 13% organic growth yearly increase against 2022.
Profit from recurring operations stood at €22.8 billion for 2023, up 8%. The current operating margin remained stable with respect to 2022. In addition, LVMH has advised the markets that it anticipates no further price increases across its business units in 2024.
Now that he is back to being the richest man in the world, thanks to a 12% rise in LVMH’s stock price on Friday, Arnault’s practice of engaging his children in collective conversations around every aspect of the entire LVMH business over Zoom lunches — early breakfast in New York — reminds us that the family is not a Rupert Murdoch-like clan of cannibals.
Read MoreTom Ford SS2024 Campaign Launches Zegna-Lauder March to Top 10 Luxury Brand
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Tom Ford’s codes, “of glamour, sexiness, elegance, and beauty,” are embraced by promoted Tom Ford Creative Director Peter Hawkings as well, the designer told Vogue in advance of his September 2023 Milan Tom Ford runway debut.
In the just-released Spring 2024 Tom Ford ad campaign, the visual impact is Zegna with edge. Stars of the Tom Ford Spring 2024 campaign are Alaato Jazyper, Dara Gueye, Eva Komuves, Ilias Loopmans, and Jeanne Cadieu, lensed by Robin Galiegue [IG].
Tom Ford does not need fixing in the minds of Estee Lauder, the business tean at Zegna or Hawkings himself. In that case, who is better than Peter Hawkings to inherit the Tom Ford design mantle and not be obsessed with turning a design vision inside out to make it “his own.”
Read MoreBurberry's New Pop-Ups and Immersive Events Design Live Well in a Psilocybin World
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The field of Burberry winter 2023 purple roses popping into the first floor of Seoul’s Shinsegae Department Store's Gangnam branch is a feast for our psilocybin-loving eyes.
This new Burberry pop-up in Seoul is sophisticated, charming in a totally-modern way and also a reflection of ‘restrained psychedelic design’. There is nothing ‘flashy’ about the visual design. It beckons us, however to explore the shop — which is a key attribute of a successful pop-up.
‘Restrained Psychedelic Design’
Magic mushrooms inspired profound introspection and spiritual connections long before the rise of monotheism.
In a world where psilocybin use is coming at us in a profound and urgent way — after a Nixon-administration 50-year ban — my reaction to the Burberry purple roses display was instantaneous.
My memory was transported to my own use of psilocybin and a dark night walk I took, eventually sitting down next to a flower bed on my own lawn.
Read MoreKering Acquires 30% of Valentino with Option for 100% of Shares by 2028
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Kering will acquire a 30 per cent share in Valentino from parent company Qatar’s Mayhoola for an all-cash sum of €1.7 billion, the conglomerate announced on Thursday. The agreement, a significant acquisition for Kering’s fashion business, includes the option for Kering to acquire 100 per cent of the share capital of Valentino within five years. It will immediately acquire Valentino board representation upon necessary approvals of the deal.
The transaction is part of a broader strategic partnership between Kering and Mayhoola, which could lead to Mayhoola becoming a shareholder in Kering. The transaction is expected to close by the end of 2023, subject to approval.
Read MoreSporty & Rich X Hotel du Cap-Eden-Roc and the New French-American-AOC Alliance
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Embracing her faux French roots without behaving like an imposter, it’s perfectly natural — even logical — that Sporty & Rich finds itself in an exciting collaboration with one of the world’s most important destinations — Hotel du Cap-Eden-Roc Antibes.
Sporty & Rich is not just a fashion brand; it represents a lifestyle that seamlessly blends athleticism, wellness and luxury. At its core, the brand embraces the belief that being active and maintaining physical fitness should not compromise one's sense of style or desire for clothes with an attitude of luxury.
Canadian-born, New York-based founder Emily Oberg has a sixth-sense for brand DNA and pedigree, and she plays her hand expertly — choosing a name like Sporty & Rich for her brand, but not falling down the rabbit hole of vapid pretentiousness.
Read MoreCeline Fall 2023: Kaia Gerber Ads, Harrods London Parfumerie, Celine in Shenzhen, China
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Kaia Gerber returns to Celine’s new 2023 campaign in a collection named “Age of Indieness”, with its big reveal last December 2022 at the Wiltern Theater in Los Angeles.
The Chasseur jacket, the Newspaper Triomphe bag, and bold sunglasses worn 24/7 express the Celine vibe in the new campaign.
Slimane’s images of Gerber channel the rebellious spirit of the mid-2000s. Kaia wears all the sleek and structured silhouettes we’ve come to expect from Hedi Slimane, who has refashioned the LVMH brand in his own image.
As Phoebe Philo is ready to return with her own eponymous collection, with a beloved following, LVMH financing and her Celine old mailing list, it’s important to note the great success that Celine has enjoyed under Hedi Slimane’s tenure as creative director.
Reality is that LVMH has achieved staggering results with the expansions of Louis Vuitton and also Dior. I would never second guess their goals on what is achievable with Celine.
Read MoreLVMH Launches Bold Focus on Preserving and Teaching Craftsmanship Across France
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The Rencontres Economiques des Metiers d'Art Forum, organized by leading partner LVMH, is an exciting new platform celebrating the convergence of art, artisanship and commerce in the luxury sector.
The platform launched in the picturesque town of Tonnerre, Burgundy on June 30, 2023, designed to bring together renowned artisans, industry experts, art enthusiasts business leaders to explore the rich but intricate relationship between craftsmanship and economics.
With a focus on preserving traditional techniques while embracing innovation, the goal of the forum was and will be a catalyst for dialogue and collaboration among talented individuals from various artistic disciplines. It’s indisputable that the artisans themselves are at the center of this metaphorical wheel of French excellence.
Read MoreGigi Hadid Fronts New Miu Miu Matelassé Arcadie Bag Campaign
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Supermodel Gigi Hadid fronts a new campaign breaking Thursday for Miu Miu’s matelassé in two styles — the already-iconic Wander, and the newly-debuted Arcadie — lensed by Steven Meisel. [The photographer now has a very quiet Official IG page posting older images.]
For the first time — after taking a huge leap on Lyst’s hottest brands list in 2022, over their mini skirt — Miu Miu has the second place position. Mothership Prada has the top slot in first quarter 2023, after replacing Gucci in fourth quarter 2022.
The Wander [pouch] and the newly debuted Arcadie [rectangle] style in the signature matelassé series offer great promise to become new “pillars” of the Miu Miu bag category, following the iconic history of Miu Miu’s Pocket.
Read MoreAngelina Jolie Launches Atelier Jolie For Self-Expressive Humanists Clients and Global Creators
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"We will use only curated quality vintage material and deadstock," Jolie wrote under her Instagram post, which revealed a rustic brand logo [see collage] designed by Peter Miles, an art director who has collaborated with such fashion brands as Celine, Gabriela Hearst and Repossi. "You will be able to repair or upcycle a piece from your closet you wish to revive, perfecting fit, breathing new life into what could have been thrown away, and creating quality heirloom garments with personal meaning."
Speaking personally, Anne thinks Jolie will get help from women like Gabriela Hearst and Maria Grazia Chiuri. She has deep roots into the luxury brands community — brands with excellent deadstock. Jolie wears Gabriela Hearst frequently. And don’t forget Stella McCartney, who two years ago was in charge of deadstock across all the LVMH divisions. The only one not in the LVMH fold now is Hearst.
Oh please, I love this!!
LVMH Luxury Ventures, the fund created to assist young and promising brands, acquired in 2019 a minority percentage of Gabriela Hearst. The investment of the French conglomerate will allow the brand to develop all over the world. I just checked, and that investment remains on May 18, 2023.
Read MorePrada Reopens in East Hampton, NY As Summer Luxury Rentals Market Cools
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With the opening of Prada’s East Hampton newly-redesigned store at 2 Newtown Lane, the summer 2023 luxury brands offering is nearly set.
Prada opened the 1600 square foot store in July 2022 with green and white cabana stripes and not today’s blue and white. The Italian luxury brand will drop product exclusive to the Hamptons, where this is their only store.
In the world of post-COVID summer rentals, the overheated market appears to have cooled. The number of rentals has expanded as demand has fallen.
Read MorePasticceria Marchesi Inspires Prada Caffè Harrods London Until January 2024
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On the eve of its 200th anniversary, the spirit of Pasticceria Marchesi transformed as the Prada Caffè has popped into the main floor of Harrods in Knightsbridge, open until January 7, 2024.
Open from 9am to 9pm Monday to Saturday and 12pm to 6pm on Sunday, Prada Caffè is a full-fledged restaurant serving strong espresso accompanied by pistacchio fagottini and eggs Florentine with caviar for breakfast. Take heart — you can also enjoy yogurt and granola.
The Prada Group acquired control of Pasticceria Marchesi in 2014, nearly 200 years after its opening at Via Santa Maria alla Porta. Despite the change in ownership, the pastry shop continues to operate with the same passion for excellence at its original location, offering its fresh patisserie, signature chocolates, and classic Milanese Panettone.
Read MoreLouis Vuitton SS2023 Capucine Campaign Teaches Us Kintsugi with Lea Seydoux
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Louis Vuitton’s Capucine bag heads into its second decade, showcased for Spring/Summer 2023 by maison ambassador Lea Seydoux.
In this moment of so many challenges central to our lives, the Spring 2023 Capucine bag with a handle made using the ancient Japanese Kintsugi technique may be the most special.
Seriously, can the handle of a Louis Vuitton Capucine bag teach us a life lesson?
In an throwaway, one and done, age of mass production and reckless disposal, ‘kintsugi’ is not only focused on repairing our favorite chipped vessels.
Now we learn that ‘kintsugi’ is also a way of crafting — even mending — our lives. It’s very Zen and challenges humans to consider the contemplation of imperfection, as well as the constant flux and impermanence of all things.
Read MoreMyriem Boukadida in Prada Eternal Gold Collection for Vogue Arabia November 2022
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AOC returns to Prada’s Eternal Gold Collection in this fashion story ‘Now and Forever’ for Vogue Arabia’s November 2022 issue.
The new Vogue Arabia story features Tunisian model and actor Myriem Boukadida, styled by Eline Hoyois in images by Luka Booth [IG].
100 per cent of the gold used in Prada’s new Eternal Gold Collection is Certified Recycled Gold which meets the Chain of Custody’ standards set by the Responsible Jewelry Council.
Read MoreBalenciaga Recklessly Threw Children and Prominent Women to the Curb
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Balenciaga’s Betrayal Is 3-Fold
1) Few of us believe the campaign ever came to life without the approval of Demna or someone very high up at Balenciaga, Demna undercuts his own fashion industry credibility.
2) Balenciaga threw Kim Kardashian, Nicole Kidman, Bella Hadid and more to the curb. The brand didn’t give a twit how Demna’s artistry might impact their careers and reputations.
3) America has angry vigilantes toting AR-15s and other high-capacity guns killing people at random — and many victims are members of the LGBTQ community, called groomers.
Read MoreConfirmed: Gucci Creatve Director Alessandro Michele Has Departed
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