While a slowdown in China weighed heavily on Adidas in the first quarter, the company’s executives remained optimistic, predicting a return to growth. Adidas net sales rose only 0.6 percent to 5.3 billion euros in the first quarter and EBIT fell 38.5 percent to 437 million euros.In the first quarter, revenues from Greater China fell 34.6 percent to generate 1 billion euros, and revenues in the rest of Asia Pacific dropped 15.7 percent to make 506 million euros.
Currently, 45 cities in China are under lockdown due to the country’s & COVID-19 policy, Rorsted noted. Compared to other brands, like Puma, the speedily growing but smaller German sportswear brand, Adidas is much more exposed to the Chinese market.
Around a quarter of Adidas stores in China are currently closed. Adidas expects revenues in China to continue to decline right up until the third quarter of this year,
The numbers in all other territories were far healthier than those in China, with the categories soccer, running and outdoor doing particularly well over the first quarter, Adidas reported.
Ibrahim Kamara has been appointed art and image director of the brand founded by Virgil Abloh, whose death last year. Ibrahim’s relationship with Virgil, blossomed both personally and professionally in the last three years creating a strong bond based on mutual respect and shared values. From Sierra Leone, Ibrahim Kamara grew up in The Gambia, and will be trained at Central Saint Martins “Cool”, then he joined i-D magazine in 2018, and in January 2021, he was appointed Editor-In-Chief of Dazed magazine.
The gérard jugnot of glasses quit LVMh, It is the escape of human brains from luxury groups, for a better and especially less stressful life. The former head of Italian eyewear giant Luxottica is leaving LVMH after leading its hotel business for the past two years, the French luxury goods group said on Thursday.
Thanks to Salvatore Ferragamo and Amazon, Chinese authorities raided a warehouse and seized counterfeit belts.
There is a sense of nostalgia surrounding nearly every fashion corner these days, and the best designer handbags are no exception.
The shareholders of LVMH Mo*t Hennessy Louis Vuitton voted 81.6 percent in favor of an extension to 80 for its longtime chairman and chief executive officer, who is 73. Dressed in the same shade of blue as President Macron, the luxury titan presided over LVMH’s first in-person shareholder meeting in three years on Thursday morning.
This summer, British department store Selfridges and fashion brand Jacquemus are teaming up for a takeover project titled “Le Bleu.” (Designer Jacquemus for only the English people) From May 3, the retailer’s The Corner Shop space on Oxford Street will be turned into a surrealist retail concept inspired by Simon Porte Jacquemus’ own bathroom. Let’s dive into the bathtub fashion and get into the swing, After pink in Paris here is the blue in London.
Dior has signed on to sponsor the Venice Biennale, which will be dominated by women and nonconforming artists in its next edition.The 59th International Art Exhibition will run from April 23 to Nov. 27 with funding from the French fashion house.
A high-end watch brand that is taking on the Goliath of global warming by using recycled materials for its products and packaging, and thus inviting other manufacturers to do the same. Besides making watches from recycled materials, Panerai has also published a list of its suppliers so that its competitors can use similar metals and substances to reduce prices.
Must we resign ourselves interminably to be only the heralds and the submissive exegetes of the infinitely reproductible? Look at the fashion which regurgitates, redraws always the same stories, synthesizes the same thoughts, declaims the same verses like the peacock’s finery. No question! Go and find a brand outside any “Monarchy” where the level of imagination gives to the world something subtle and sublime at the same time.
Sotheby’s is celebrating the Platinum Jubilee with a portrait exhibition of Queen Elizabeth II, and her six female predecessors, as part of a two-week series of shows and cultural events at the London auction house.
Nicolas Ghesquière picked one of the most famous and arresting buildings in California for Louis Vuitton’s cruise 2023 show on May 12 the Salk Institute in San Diego, very poetic, with a views of the Pacific Ocean. Nicolas typically selects an architectural marvel as a transporting backdrop for cruise shows, fashion superman is return.
French luxury label Chloé was founded in 1952 by Gaby Aghion and Jacques Lenoir. Currently, under the helm of Gabriela Hearst, the bohemian-leaning label has been home to many famed creative directors, including Karl Lagerfeld, from 1964 to 1983 and again from 1992 to 1997; Stella McCartney, who was the youngest to earn the title fresh out of school; and later current Celine creative director Phoebe Philo, who took over Chloé in 2001.
Laurent Cathala was promoted to the position of president of the Greater China fashion business, continuing Gucci’s increased focus on the fashion sector. In addition to being based in Shanghai, he will report directly to Marco Bizzarri, Gucci’s president and CEO. Cathala will be the leader of the Greater China leadership team.
Despite never having met Alber Elbaz, Thebe Magugu was enchanted by his gripping runway shows for Lanvin, soigné cocktail dresses and charismatic personality, discovered via ‘Fashion Television’ once his family in Kimberley, South Africa, had saved up enough to get satellite TV.