Kering said sales increased by 14% in its third quarter, driven by strong results in Europe, although Gucci revenues lagged behind overall growth.
With the dollar strong in Europe and the Chinese market recovering from COVID-19 restrictions, luxury giants are disregarding concerns that the industry’s post-pandemic boom may cool.
With overall sales of 5.137 billion euros in the three months to September, Kering also benefited largely from that trend. Analysts had predicted a 12% increase on a comparable basis, which strips out currency fluctuations. However, Gucci’s sales grew by 9%, below a consensus forecast of 11%.
The label’s performance in China was “mixed” and “has yet to normalize,” said Kering’s finance chief Jean-Marc Duplaix. Following years of stellar growth, Gucci has underperformed rivals Louis Vuitton and Hermes in terms of its sales, which accounts for the bulk of profits at Kering. Too bad the turnover is not like Gucci’s collection this season, a double vision.
Within less than a month of announcing plans to restore tax-free shopping for international visitors, the British government has backed down. The return of tax-free shopping had been hailed by industry groups and luxury retailers as a way to boost tourism post-COVID-19 and help British luxury brands and retailers compete with their European counterparts.
With Jeremy Hunt as Chancellor of the Exchequer, that euphoria has dissipated as the country tries to generate as much tax income as possible to restore confidence in brand Britain. It is estimated that the new measures he announced will save the government 32 billion pounds per year.
After the speech, the pound rose by roughly 1 percent against the dollar, trading at $1.13. By late afternoon, it had risen to $1.14. Continue reading
Serbian fashion designer based in London, England. She owns a fashion brand named Roksanda, which she introduced in 2005 at London Fashion Week.
The Council of Fashion Designers of America has named Thom Browne its next chairman, effective Jan. 1. Browne will be tasked with overseeing the organization as it continues to undergo rapid changes.
Browne was unanimously elected to the position for a two-year term by the CFDA board. Tom Ford completed his three-year term as chairman at the end of May, and he is succeeded by the 57-year-old designer.
During his term Ford diversified the board; initiated new programs to help bring much-needed diversity, equity and inclusion to the fashion industry; worked with brands to provide access to hundreds of jobs, opportunities, and mentorships; and founded A Common Thread with Vogue, which provided over $5 million in relief aid to fashion businesses during the first two years of the pandemic.
Born in Allentown, Pennsylvania, Browne didn’t set out to become a fashion designer, graduating from the University of Notre Dame with a degree in economics. Following an acting career in Los Angeles, Browne moved to New York in 1997 and began working as a salesman at Giorgio Armani. Club Monaco, then owned by Polo Ralph Lauren, later chose him to lead its creative development team, which he did for several years before launching his own label. Finally, it is not only in France that we have designer economists!
If you were looking for a getaway car from Paris Fashion Week, a Porsche Carrera would have been ideal, but the trio parked on Place Vendôme were celebrating Tag Heuer’s 50th anniversary.
It is now a collectible car, described by Tag Heuer chief executive officer Frédéric Arnault as a “sporty, performance-oriented car,” with iconic design codes such as white and blue, white and green, white and red, and the iconic Carrera stripe.
Franca Fendi died Wednesday in Rome, as the third-born daughter of the Fendi family, she worked closely with her four sisters Carla, who died in 2017; Anne; Paola, and Aida, in expanding and developing the luxury house.
As retail manager, she was responsible for the brand’s Rome stores until the business was sold in 1999. Prada Group and LVMH Moët Hennessy Louis Vuitton acquired 51 percent of the Rome-based fashion and leather goods company in 1999.
In November 2001, LVMH acquired Prada’s stake, and today the company is managed by Serge Brunschwig.
Former creative director of Fendissime and now cofounder of Triple F’s vintage resale platform, Federica leaves behind four children: Guido, Andrea, Luca, and Federica.
It is a pleasure under our eyes when the hand of the creator unrolls her creations of a world where everything seems to collapse. She drags us from peaks to abysses, between the infinity of time, which sometimes is suspended, to penetrate our intimate fiber. The creator, about whom everyone speaks in Paris, sublimates the sublime, by a simple and mastered collection; couture spirit says to me the man of the Spring next to me.
After five years as Burberry’s chief creative officer, Riccardo Tisci is stepping down. His last show for the brand took place on Monday, after the London Fashion Week show had been rescheduled due to the funeral of the Queen. Tisci’s spot at the British heritage house will be filled by Daniel Lee, the former creative director of Bottega Veneta.
His appointment reinforces the ambitions Burberry has for the future, as he has a unique understanding of today’s luxury consumer. Daniel Lee grew up in Bradford. He graduated from Central Saint Martins College of Art and Design in 2010 with a master’s degree under the tutelage of Louise Wilson .
He completed his internships at Margiela and Balenciaga, under the direction of Nicolas Ghesquière. In 2012, he joined Céline in Paris under the direction of Phoebe Philo, first hired in the design team, and later became the ready-to-wear director.
Who knows the gemellity? This cramped place where for nine months, it was necessary to cohabit with an apostate, sectarian, in a word a human Knockoff! So here is the Gucci fashion show in “twin” twice as many clothes twice as much trash, twice as much incoherence! I would have preferred the Twin Cilynder of the Harley-Davidson softer to my ear as Artemis would have liked. Is it a reflection on the identity “to be equal is to be identical? Subject that gives the artistic director of Gucci an intrigue, and dividing the audience into two parts by twin portraits. The botoxed and surgically enhanced bimbos who all look the same on one side, and the others who look like nothing.
Welcome to “Twinsburg”, a town in Ohio transported to Milan, and to have kept the secret of 68 pairs of twins, for a reflection on identity and particularism was a tour de force. The twins have something disturbing especially for others, but beyond the visual appeal and conceptual interpretations, on the solidarity of twins Michele really wants to exploit, or not.