Category Archives: BREAKING MODE

NEIMAN CHAPTER HEAVEN

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Bankruptcy spells a new chapter for the Neiman Marcus Group, with $4 billion of its debt wiped out, different owners and a fresh financing package to keep operating.

But according to the luxury retailer’s chief executive officer Geoffroy van Raemdonck, there is much that will stay intact, at least in the weeks and months ahead.

In an interview on Thursday, just two hours after NMG filed for Chapter 11, van Raemdonck that the existing management will remain with the company through the bankruptcy proceedings expected to last into the fall, and that based on past conversations with creditors, who are now the owners, he’s confident they’re on board with sustaining the Neiman’s transformation strategy he’s been championing for two years. Continue reading →

MICHAEL BURKE CALLS STEVEN BURKE

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Louis Vuitton called on French artist Steven Burke, aka Luckylefthand, to decorate the façade of its Pont Neuf headquarters in central Paris with his bright, minimalist artwork.

The artist, who hails from a surfing town on France’s southwest coast, painted bright, stylized rainbows and his signature hand motif in a nod to social distancing, the hands are symbolically placed with a meter-and-a-half space between each.

The artist said he sought to both convey the feeling of summer vacation while also capturing the current, transitory period.

The neighborhood is also home to LVMH’s sprawling Samaritaine complex, which will house a high-end hotel and small department store, which had been scheduled to open this spring before the coronavirus crisis hit. Continue reading →

PARSONS VIRTUAL SCHOOL

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Parsons Launches Podcast Series for Master’s Program, Public.

As students transition from the classroom to virtual learning, Parsons School of Design has launched a Retail Revolution podcast that features weekly episodes with experts from a variety of fields offering insights and perspectives on how retailers can weather the coronavirus crisis.

New episodes of the podcast, which is housed on its own web site as well as on Instagram, Apple Podcasts, Stitcher, TuneIn and Spotify, will air twice a week. So far, episodes have featured Meisha Brown, vice president of department stores for Kering Eyewear; Brandon Roe, marketer and author, and Noam Levavi, chief executive officer of ByondXR. Continue reading →

LAFAYETTE SAME LEVEL AS SAMARITAINE

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Galeries Lafayette’s Nicolas Houzé Preps the Family Store for Reopening. The fabled Parisian department store may return to business on May 11.

Century-old family business Galeries Lafayette has been hit hard by the coronavirus crisis. Stores remain shut, tourists are not likely to return to the French capital anytime soon, consumption forecasts look dicey, sales are expected to drop by 50 percent this year that’s 1 billion euros less.

Executives are rethinking store hours, given constraints of public transport and worker availability child care remains a challenge, as schools open gradually, with limited capacity. Store hours will likely be reduced both during the week and on weekends, and discussions with unions are ongoing.

The group is working to open nearly all of its Galeries Lafayette and BHV Marais stores, with the exception of flagships in shopping centers French officials have said large shopping centers will remain closed for the first phase of easing restrictions, which will be revisited on June 2. Continue reading →

PARADISE ISLAND EXILE

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On his island, billionaire Richard Branson confined out of reality. To live rich and happy, let’s live in hiding.” Richard Branson never liked this adage, which was a bit tampered with. The 69-year-old British billionaire has always preferred light and excitement. On Twitter, he presents himself as “a tie-allergic adventurer, philanthropist and troublemaker”. Continue reading →

CHATEAU MARMONT NOT ABLE TO REOPEN

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There isn’t a hotel as closely identified with Hollywood as the Chateau Marmont, which is probably why people have been talking a lot about its future amid the economic fallout caused by the coronavirus.

Rumors abound lately that the 90-year-old hotel and restaurant, still a favorite haunt of celebrities and industry types the world over, has been so pummeled by the coronavirus that it won’t be able to reopen, and its owner, Andre Balazs, might be forced to sell.

The hotel laid off nearly its entire staff (242 people) the same day California and Los Angeles went into lockdown and closed all nonessential business.

Employees received no severance and the layoffs are listed as “permanent” in a required disclosure filed with the state. Continue reading →

FLOWER OF CRYSTAL IN MAY

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Dior Celebrates Lily of the Valley With New Homewares Line. Dior’s tradition of distributing lily of the valley to its employees on May 1 has been suspended due to the coronavirus outbreak.

Tradition has it that on May 1, Dior gifts its employees a sprig of lily of the valley a French custom said to date back to the 16th century, symbolizing good luck and happiness.

This year, due to the coronavirus outbreak, the May Day custom has been put on hold as most of Dior’s staff continues to work from home. Instead, the French fashion house is celebrating the bloom, which founder Christian Dior turned into a brand signature, with a new homewares collection designed by Cordelia de Castellane.

Currently holed up in her country house some 45 minutes from Paris, the artistic director of Dior Maison has revisited the emblematic house motif with a selection of porcelain plates, hand-painted or engraved glasses, and blown-glass decorative baubles and decanters Continue reading →

BALMAIN VERY RICH BUT STINGY

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Balmain Donates 12 pairs eyewear to Raise Funds for COVID-19.The frames will be sold on video commerce platform NTWRK to raise funds for the Global Fund to Fight AIDS, Tuberculosis and Malaria.

The French fashion house is donating for sale 12 pairs of prototype sunglasses customized by creative director Olivier Rousteing for its men’s and women’s shows in January and February, marking the launch of its license with Lugano-based eyewear start-up Akoni.

The sunglasses will go on sale on video commerce platform NTWRK as part of an activation by RED, the nonprofit organization founded by Bono and Bobby Shriver in 2006 to raise funds for the Global Fund’s efforts to combat COVID-19.

Balmain and Akoni are donating 12 pairs of the Wonder Boy style that Rousteing has designated as his own wear-it-everyday choice of frames. Continue reading →

WINTOUR SHRED BY TALLEY

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André Leon Talley has detailed the ageism and racism that he faced during his decades-long career in fashion. André Leon Talley’s new book won’t be out until September, but many are already feasting on the fallout he had with his former Vogue boss Anna Wintour.

Penguin Random House has pushed back the release of “The Chiffon Trenches: A Memoir” to September. But The Daily Mail’s recent recap of the book exposed how the two high-powered friends and ex-colleagues have fallen out. In an interview Friday, Talley, Vogue’s former creative director, detailed his side of the back story, and emphasized how his upcoming tome centers on his career in fashion journalism, not just his years of Wintour.

Talley said that he and Wintour “had a conversation” and she asked that passages about her daughter Bee Shaffer’s wedding and a few other private references be removed. “This is not a vengeful book about Vogue and Anna Wintour. There are parts in the book where I say that some of the best years of my life were at Vogue.

That said, he added, “From a humanitarian perspective, she left me with psychological scars. I was often left blowing in the wind without any explanation, which I think perhaps she should have given me.” Continue reading →

KERING SADE IN CHINA

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Kering sales fell 15.4% to 3.2 billion euros ($3.47 billion) in the first quarter, impacted, like its rivals, by store closures. That was a 16.4% drop like-for-like, which strips out the effect of acquisitions and currency swings.

At its star Gucci label, which powers most of its profits, like-for-like sales were down 23.2% in the period, contrasting with a less pronounced 13.8% drop-off at Kering’s Saint Laurent brand.

From the start of April, we’ve seen an improvement and positive trends for most of our brands in mainland China. Kering, like rival LVMH, said it was trimming its dividend payout against 2019 earnings by 30%. The firm, which also owns Balenciaga, has been one of the big winners of a luxury goods bonanza in recent years alongside LVMH, and Gucci in particular had been booming.

That has put the cash-rich conglomerates in a stronger position than some standalone brands that were already in turnaround mode when the coronavirus crisis hit.

GUCCI UNDER THE SKIN

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Gucci’s agreement with trade unions revealed on Saturday is a first sign of a restart of fashion’s production pipeline that does not involve protective masks or medical overalls. On April 20, the Florence-based company will reopen its leather goods and shoes prototype industrial complex called ArtLab.

While Italy remains in lockdown until May 3, the reopening was made possible by government provisions issued on April 10 and following an agreement signed with labor unions. The latter is based on the Safety Protocol signed on March 15, reinforced through a collaboration with the virologist Professor Roberto Burioni from Milan's Vita-Salute San Raffaele University. Continue reading →

MUSEUM TOY FOR A BILLIONAIRE

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Billionaire François Pinault has decided to postpone the opening of his art museum at the Bourse de Commerce, renovated by Tadao Ando, until spring 2021 due to the coronavirus pandemic.

The historic building, renovated by the famous Japanese architect, was originally scheduled to be inaugurated in June after several years of renovation. It was completed on 9 March and workers were busy putting the final touches to the premises when France entered quarantine on 17 March.

“Following the announcement of continued containment due to the health crisis and given the uncertainty about the date of resumption of activity, the work required to complete the Bourse de Commerce cannot be carried out according to schedule,” the Pinault Foundation said in a statement on Friday.

The City of Paris is in the process of completing the construction work outside the building. Initially scheduled to last three months, this phase is now expected to take eight or nine months due to the rules of social distancing that are likely to remain in place once the lockdown is lifted, the institution explained. Continue reading →

CARTIER SALE IN CHINA

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Cartier to Launch New Santos-Dumont Watch on Tmall’s Luxury Pavilion. As high-end labels clamor for a piece of China’s online market all the more important, with much of the world at a standstill Cartier is drawing on its partnership with Tmall’s Luxury Pavilion to launch a new Santos-Dumont watch model on the Alibaba e-commerce platform.

Dior debuted its Gem Clutch, a satin purse adorned with a jeweled flower, on WeChat last week before rolling it out in other markets, while Louis Vuittion promoted its summer 2020 collection through livestreaming on Xiaohongshu, a popular social-commerce platform. Continue reading →

ZEGNA RESTRUCTURING US

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The Ermenegildo Zegna Group is restructuring its U.S. organization. Luca Lo Curzio, currently worldwide chief marketing and digital officer, has been appointed North America chief executive officer. He will succeed Robert Aldrich, who will leave the Italian men’s wear powerhouse on April 30 to pursue other professional opportunities. Lo Curzio is expected to take on his new role as soon as the COVID-19 emergency ends and allows the move.

Lo Curzio joined Zegna in May 2016 from Luxottica Group. At the Italian eyewear giant, he held the role of global marketing director, retail sun luxury, managing the U.S., U.K., Australia/New Zealand, South East Asia, South Africa, Latin America, Iberia, Germany, Turkey, India and Middle East and North Africa regions. Previous experiences include managerial roles at Bain & Company, Danone Group, and L’Oréal Saipo Group.

The Zegna family and the Ermenegildo Zegna company’s top management have pledged personal donations totaling 3 million euros to fight the spread of COVID-19 in Italy. Continue reading →

THE HERMÈS VIRUS IS BACK

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The hermes Virus is back ! In China an Hermès Boutique Made $2.7 Million in One Day After It Reopened. Is it a barometer of things to come in post-pandemic luxury shopping?

The French Hermes flagship store is believed to be the highest daily haul for a single boutique in China, and offers hope to luxury brands and retailers of what economic recovery may look like in the coming months. A host of VIP shoppers documented their extravagant purchases across multiple social media platforms, including Weibo and Xiaohongshu.

Guangdong province, is China’s most affluent region. This position makes it an interesting testing ground for how consumer behavior for high-end customers will change when stay-at-home orders lift. Does hermes help spread the corona virus to the ruling classes of popular china?

 

ANNA SOON HOMELESS

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To counter the plunge in advertising that is plaguing the industry, the publisher of Vogue, Vanity Fair, GQ and Glamour told staffers Monday that it is cutting salaries of those making more than $100,000 by between 10 percent and 20 percent, effective May 1. The reductions will be in place for five months across all markets.

Chief executive officer Roger Lynch will take a 50 percent reduction in his base salary, as will the external members of its board. The rest of the executive leadership team which includes Vogue editor in chief and Condé Nast artistic director Anna Wintour, who is one of the publishing companies highest-paid executives will reduce their base salaries by 20 percent.

“While we aren’t as solely dependent on print and digital display advertising as some of our competitors, globally, we will still see a substantial impact from this crisis on our business,” Lynch said in a staff memo. Continue reading →

CLAIRE WAIGHT KELLER LIVED

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Yesterday Givenchy officially announced in a statement, that after three years of collaboration, the Womenswear Show held on March 1st 2020 will be Clare Waight Keller’s last collection for Givenchy.

The designer, who is known for designing Megan Markle’s 2018 wedding dress, joined the brand after Riccardo Tisci left for Burberry.

“As the first woman to be the Artistic Director of this legendary Maison. My heartfelt thanks go out to each of the unsung heroes and heroines behind the scenes, for their contribution from product to communications and retail, and every global team member, partner and supplier in between. Without all of you, I could not have brought my vision for Givenchy to life in such a beautiful way,” she continued.

Sidney Toledano, Chairman and CEO of LVMH Fashion Group, also said, thanking Waight Keller for her contribution to Givenchy’s latest chapter.

Who will be her successor ? The brand has stated that the house’s new Creative organization will be communicated at a later date. However some whispers would circulate that it could be the young designer Dgena who will be on the way. Here is her brand www.dgena.fr  Continue reading →

MISSONI LAUNCHES DESIGN COMPETITION

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Missoni creative director Margherita Maccapani Missoni has teamed with fashion co-creation platform AwayToMars to launch an initiative to boost creativity among international designers.

From April 10 to May 17, designers from across the globe will have the chance to submit through the AwayToMars platform sketches of fashion designs inspired by three different themes that Maccapani Missoni picked from the Missoni archives.

Voted by the public, the nine winning pieces will be produced by M Missoni and will be available for purchase online and at selected stores.

“My goal is to enlarge M Missoni’s spectrum. I decided that this brand would be about giving new life to the disregarded parts of Missoni’s history by dusting off the overlooked B-side of its legacy — twist it upside-down, inside-out and layer it with new perspective,” Maccapani Missoni said. “Collaborations are vital for this project and I just love the idea of partnering with AwayToMars and get so many different voices involved. I can’t wait to learn.”

LOUIS VUITTON RESTART PRODUCTION

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Louis Vuitton has reopened 12 of its 16 leather goods production sites in the country with the aim of producing hundreds of thousands of masks for its staff and nearby retirement homes.

Michael Burke, chairman and chief executive officer of Louis Vuitton, on Wednesday visited the Sainte-Florence workshop in the Vendée department in the west of France, where as of Monday 115 out of 896 employees were back at work, including 22 producing a mix of disposable and recyclable masks.

Vuitton’s various workshops in Marsaz, Saint-Donat, Saint-Pourçain, Ducey and Sainte-Florence are making masks and prototypes, while the Issoudin and Condé workshops are making masks exclusively. The luxury house’s historic atelier, which opened in 1859 in Asnières on the outskirts of Paris, remains closed. Continue reading →

CHAUMET LAUNCH A VIRTUAL BOUTIQUE

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Chaumet’s hôtel particulier located at 12 place vendôme has re-opened its doors. an exceptional virtual visit with jean-marc mansvelt, the ceo of the jewellery house. for the second episode, let’s explore the shop overlooking the famous place.interview with jean-marc mansvelt, ceo of chaumet:this is our most important shop in the world, it’s the same as for our hôtel particulier, it represents the most ultimate setting of the chaumet house. we also revisited the whole store by recreating the circulation, including a direct entrance from the place vendôme.here, we really have the same concept of a store as it has been established in the world since 2017. Continue reading →

L’ORÉAL ACQUIRES MUGLER AZZARO

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Beauty brand L’Oréal has announced that, after obtaining the necessary authorisations from the relevant authorities, it has finalised the acquisition of the Mugler brands and Azzaro fragrances from Clarins Group.

The agreement for the sale was signed by both parties back in October 2019, but it has been subject to the standard conditions precedent until now. “By joining L’Oréal, Mugler and Azzaro brands will pursue their international development while benefiting from the resources of the world’s beauty leader in marketing, distribution and innovation,” explained L’Oréal in an official statement.

In regards to the acquisition, President L’Oréal Luxe Cyril Chapuy, said: “We look forward to welcoming the Mugler and Azzaro teams to the L’Oréal family, and to accompanying them, especially in this difficult time.” Continue reading →

THE CROWN NO PART 6

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No Crown follow-up. No one else here could have delivered such a powerful message: The Queen, who turns 94 later this month, drew on Britain’s 20th-century history and her own past in an effort to comfort the public and rouse them to action in fighting the spread of COVID-19.

She said Sunday night’s address reminded her of the very first broadcast she made. It was during World War II, when she was a teen

“We, as children, spoke from here at Windsor to children who had been evacuated from their homes and sent away for their own safety. Today, once again, many will feel a painful sense of separation from their loved ones. But now, as then, we know, deep down, that it is the right thing to do,” she said. Continue reading →

LUXOTTICA SUPPORT EMPLOYEES

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Just as its chairman Leonardo Del Vecchio through his namesake foundation donated 10 million euros to the new hospital created at the Milan fairgrounds, Luxottica Group is introducing a number of initiatives to support its employees impacted by the coronavirus emergency.

The Italian eyewear giant has pledged to entirely integrate employees; cassa integrazione wage support measure every month. Italy has been in lockdown since March 9 and, following the shut down of all nonessential activities, the Italian government has issued a; Cure Italy decree allocating 25 billion euros to support the country and allowing companies to request the wage support measure, which contributes to 80 percent of an employee’s salary. Continue reading →