ST LAURENT REACHED TARGET

Behind the Gucci-centric headlines that greet every quarter of impressive growth at Kering, there is another brand that is fueling the French luxury group Saint Laurent because of a reboot of its women’s wear offer under chief executive officer Francesca Bellettini and creative director Anthony Vaccarello.

Since she took over in 2013, the Italian executive has overseen a tripling of the house’s sales, though she’s not one to sit on her laurels. Rather, she continually drives her teams toward the next challenge, as she propels the label founded by Yves Saint Laurent toward its long-term revenue target of 3 billion euros.

Having posted sales of 1.5 billion euros in 2017, the house — the second largest brand in the Kering stable after Gucci has kept up a steady clip, though its pace is normalizing after several years of exceptional growth. Continue reading

LVMH ACQUIRE JEAN PATOU

LVMH has acquired a new perfume brand “Jean Patou”. The giant French conglomerate secretly took management control of Patou last year from Designer Parfums, a UK group based in Watford north of London, which is owned by Mehta business family.

After a couple of months the board of Jean Patou appointed Sidney Toledano to be its new chairman, replacing Nikita Mehta, the 28-year-old daughter of Dilesh Mehta, the CEO and founder of Designer Parfums.

At the time, LVMH board member, Toledano was CEO of Christian Dior. In January, he became the President of LVMH Fashion Group, which controls a series of significant fashion houses including Céline, Fendi, Givenchy, Pucci, Kenzo and Loewe. Continue reading

LVMH DARES UGLY FOR 41 % PROFIT

The parent of brands including Louis Vuitton, Dior, Guerlain and Bulgari said revenues totaled 10.89 billion euros in the three months to June 30, above the market consensus of 10.86 billion euros.

Net profit in the first half jumped 41 percent to 3 billion euros, while recurring operating profit rose 28 percent to 4.65 billion euros. Group sales in the first six months of the year were up 10 percent in reported terms and 12 percent on an organic basis, with all geographic areas posting double-digit growth.

“The excellent results of the first half of the year attest to the strong desirability of our brands and the effectiveness of our strategy. The performance of the first half is even more remarkable given the unfavorable currency environment,” Bernard Arnault, chairman and chief executive officer of LVMH, said in a statement. Continue reading

VACHERON CONSTANTIN

Tucked away all the way up on Madison Avenue at 64th Street is the Vacheron Constantin boutique. Usually filled with the latest and greatest modern hits, this summer the brand’s New York City home is exhibiting and selling a selection of remarkable vintage pieces as part of their “Collectionneurs” line.

The boutique has nine fully serviced and authenticated vintage pieces on display (with two more arriving over the next week or so), ranging from a gorgeous platinum minute-repeating pocket watch from 1928 to the stunning reference 4178. All are on view and available now through the end of August. Here’s a selection of a few of them just because we love ’em. Continue reading

BALMAIN’S SALES A COPY FLOP

Balmain is bolstering its digital reach with the launch of an online flagship serving customers in more than100 markets in partnership with Yoox Net-a-porter Group.

Till now, in terms of its own online store, “the situation was quite poor,” acknowledged Balmain chief executive officer Massimo Piombini in an interview at the brand’s headquarters. Everything was managed in-house “without any real technical expertise, and the possibilities to keep up with the upgrades of the digital business,” he said.

Harnessing the latest technologies in the online business and integrating Balmain’s e-commerce and institutional web sites, the new site, he said, will boost visibility and sales, as well as serve as a powerful communication tool. Features include a click-and-collect service, editorial content including videos, and dedicated capsules. Continue reading

LONGCHAMPS FASHION SCOOPS

To celebrate the brand’s 70th anniversary, Longchamp is scheduled for September 8, to stage its first official runway Fashion Show in New York this Fall with a tandem with a tandem event scheduled on September 11,for the Opéra Garnier in Paris.

Known for its best-selling “Le Pliage bag”, the French leather goods firm has expanded its ready-to-wear offering over recent years as part of its repositioning as a lifestyle brand.

Meanwhile, Kendall Jenner, the new brand ambassador, is on board for four seasons, beginning with the fall 2018 campaign.

Among other projects Stateside, the brand is preparing to open its first Los Angeles store this fall.

CARLO BENETTON DIES AT 74

MILAN yesterday — Carlo Benetton died on Tuesday in Treviso, Italy, after fighting a cancer for the last six months. He was 74 and the youngest of the Benetton siblings, who also include Luciano, Giuliana and Gilberto and who together founded the Benetton fashion group in 1965, building it into an international powerhouse in the Eighties and Nineties, leveraging a streamlined organization and manufacturing pipeline.

He is survived by his four children: Christian, Massimo, Andrea and Leone. A funeral service will be held on July 13 at 10 a.m. at the Duomo cathedral in Treviso.

Throughout his career at the family group, Carlo Benetton was in charge of the industrial strategies connected to production. He left the group’s board in 2013, two years after its delisting from the Milan Stock Exchange. Continue reading