KERING FOCUSES ON LUXURY

Does Kering need some money to pay Hedi Slimane’s allemony after the divorce?

In 2011, Kering acquired Volcom, an action sports brand. One of the less visible brands at Kering has begun taking steps to sell action sports brand Volcom to focus fully on the group’s luxury labels.

“In accordance with Kering’s strategy to fully dedicate itself to the development of its luxury houses, the group is also ready to spin off German sportswear brand Puma.

As reported, Kering and Stella McCartney on March 28 said have agreed to end their 17-year partnership and that the designer would purchase Kering’s 50 percent stake in her namesake brand. Continue reading

LIE SÉOUL FASHION WEEK

Chung Chung Lee was born and raised in Seoul to renowned designer parents who founded the legendary Korean fashion house LIE SANGBONG. Having access to the atelier since the age of six, runways and various fashion week events across the globe since the age of 14, Chung Chung was raised in an environment that fostered creativity and encouraged experimentation, hence his innate inclination toward the arts. Continue reading

SANTOS BROKECASH MONTAIN

Jake Gyllenhaal is joining forces with Cartier as the new face of its Santos de Cartier watch, The star of films “Brokeback Mountain” an American neo-Western romantic drama film directed by Ang Lee, adapted from the 1997 short story of the same name by Annie Proulx.

Jake Gyllenhaal embodies the Santos de Cartier man. A man who commits utterly and does nothing by halves. A man who defines fearless as honest and true to himself,” Cartier said in a statement on Monday.

Though considered one of Hollywood’s most stylish leading men, Gyllenhaal has been highly selective in his brand endorsements.

The American actor and producer last year made his debut as an ambassador for Calvin Klein’s Eternity fragrance in a black-and-white spot shot by Cary Fukunaga. Continue reading

LANVIN OLIVIER STONING

Since the Chinese conglomerate, Fosun International, took over Lanvin, the French fashion house, they started by parting away with its creative director Olivier Lapidus and general manager Nicolas Druz. In the meantime, the women’s collections will be designed by an in-house team in the interim.

Joann Cheng, president of Fosun Fashion Group and chairman of the board of directors of Lanvin, has been appointed chief executive officer of the house for an interim period, effective immediately. Druz, who had led the brand since 2017, will take up the new position of managing director of Fosun Fashion Group, where he will support the group’s business expansion in Europe.

“Olivier steered the maison through a transitional period between ownerships,” said Cheng. “We thank him for that, and wish him every success for his own brand and future endeavors.” Continue reading

HERMES, FLY ME TO THE MOON

Hermès International confirmed its objectives for revenue growth in the medium term, despite growing economic, geopolitical and monetary uncertainties worldwide.

The manufacturer of Kelly bags and silk scarves said that net profits raised by 11% last year to 1.22 billion euros, up from 1.1 billion euros in 2016.

Hermès is in mutation. It becomes a cash machine for stakeholders. When shareholders starts being more important than clients, the products enclines to become low quality products.  However for Chinese clients it is not a big deal. Continue reading