KERING SAID …

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Kering said net profit fell 63.4 percent in the first six months of the year after the coronavirus pandemic.

Group revenues in the three months to June 30 fell 43.5 percent to 2.17 billion euros, representing a decline of 43.7 percent in comparable terms. This came on the heels of a 15.4 percent drop in the first quarter.

In percentage terms, the decline was greater than the one recorded by sector leader LVMH, which on Monday reported a 38 percent drop in second-quarter sales, but was below a consensus of analyst estimates, which called for a 48 percent fall.

Kering flagged an “encouraging” recovery as stores reopened, particularly in the Asia-Pacific region, and saw a 72.4 percent jump in online sales in the second quarter. But organic sales at its cash cow brand Gucci fell 44.7 percent during the period, compared with a 23.2 percent drop in the prior three months. Continue reading →

LVMH NET PROFIT DIVES 84 % IN CHINA

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LVMH Moët Hennessy Louis Vuitton said net profit plummeted 84 percent in the first six months of the year, although it forecasts a gradual recovery in the second half, supported by a strong recovery in China during the second quarter.

Bernard Arnault, chairman and chief executive officer of LVMH, said the group had shown “exceptional resilience” during the health crisis. “While we have observed strong signs of an upturn in activity since June, we remain very vigilant for the rest of the year,” he said in a statement.

“Thanks to the strength of our brands and the responsiveness of our organization, we are confident that LVMH is in an excellent position to take advantage of the recovery, which we hope will be confirmed in the second half of the year, and to strengthen our lead in the global luxury market in 2020,” he added. Continue reading →

A ITALIAN FOR MARGIELA

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Gianfranco Gianangeli joins the Paris-based fashion house Margiela after stints at Givenchy, Prada and Bottega Veneta

Gianangeli joins the Paris-based fashion house from his family-owned, namesake knitwear manufacturer in Perugia, Italy. Before that, he was global retail director at Givenchy and associate international director at Prada. He also worked for several years at Bottega Veneta in various merchandising positions and as that brand’s regional vice president in Japan.

Gianangeli joins a fast-growing brand powered by the creative vision of John Galliano, who recently documented the making of his wet-look Margiela couture dresses and diced-and-spliced tailoring in a mesmerizing 50-minute film with Nick Knight. Continue reading →

MILAN FASHION WEEK 2020

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Milan Digital Fashion Week Scores Highest Among European Fashion Capitals. The combined earned media value generated online by the London, Paris and Milan fashion weeks amounted to 10.7 million euros.

The first edition of Milan Digital Fashion Week closed on July 17 with a bang. Although observers have been pointing the online traffic generated by the London, Milan and Paris fashion weeks sent a reassuring message to the industry, forced to forgo physical events for the most part at least until September.

In particular the Milan showcase, which kicked off on July 14 and featured brands such as Prada, Ermenegildo Zegna and Gucci, among others, had the highest impact amassing 6.24 million euros in EMV, followed by Paris, with an EMV of 2.68 million euros and London Fashion Week that generated 1.81 million euros, or 17 percent of the total. The study took into consideration the July 9 to 13 period for Paris, excluding the previous days dedicated to haute couture collections. Continue reading →

INFÉRE PARFUMS URBAN HERO

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Inter Parfums Inc. posted an 18.7 percent net sales decline for the quarter ended March 31, the company said on Wednesday. While declines were broad, the Coach and Guess brands still grew.0 During the quarter, Coach and Guess both grew, helping to offset declines from most of the other brands. Coach launched Coach Dreams, which boosted brand sales by 35.9 percent.

Net sales were $144.8 million, down from $178.2 million in the prior-year period. European-based sales were down 20.6 percent, to $114.1 million, and U.S.-based sales were down 10.9 percent, to $30.7 million.

We have taken steps to minimize expenses and protect cash flow said Jean Madar, Inter Parfums chief executive officer in a statement. Our operating cost structure, of which variable costs accounts for over two-thirds, should enable us to minimize the impact of reduced sales until 2021 and moved related advertising and promotion expenses to 2021 as well.  Continue reading →

CREATIVE TALENT QUIT HERMES

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A discreet, yet pivotal creative talent at Hermès International that some insiders describe as its;secret weapon is exiting the brand, bad bosses never keep good employees, Goodbye Hermés hello Kering.

Bali Barret, artistic director of the women’s product universe, has submitted her resignation and will exit the French house sometime this fall.

Practically unknown to the general public, and familiar to relatively few in the fashion world, Barret’s profile is somewhat akin to Alessandro Michele, who toiled behind the scenes for years at Gucci, while being responsible for products that generate the lion’s share of brand revenues.

Barret joined Hermès in 2003 as artistic director of its silk department, where she recruited street artists and other young creatives to bring fresh ideas to the category. She was promoted to her current position in 2009, giving her purview over all women’s departments, including leather goods, rtw, footwear, silks, jewelry, watches, beauty and fashion accessories.

According to insiders, said to be fiercely loyal to Barret’s leadership and design vision, she helped ;revolutionize; Hermès by modernizing its products and processes, bringing much-needed oxygen to a heritage brand with a conservative style streak. Continue reading →

VIRTUAL FASHION BORN TO BE ALIVE

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With safety measures in place, fashion weeks in these Asian fashion capitals will return to physical showcasing in October. Shanghai, Tokyo, Seoul and Beijing Fashion Weeks to Return.

As a few brands are beginning to do physical shows again at the end of the Spring 2021 men’s wear season, fashion weeks in Shanghai, Tokyo, Seoul and Beijing, where the coronavirus pandemic has been largely contained, are planning to press ahead with fully fledged physical fashion shows this October.

Return on Oct. 8, a spokesperson for the Shanghai Fashion Week Committee told. It hosted the world’s first online fashion week in partnership with Tmall amid lockdowns in March with mix results, but the livestreaming and selling component will be integrated into the physical fashion week to enable brands to have an omnichannel presence with both the trade audience and the public. Continue reading →

RICHEMONT A CARTIER TO 1.99

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Sales at Compagnie Financière Richemont nearly halved in the first quarter to 1.99 billion euros, despite double-digit growth in China fueled by jewelry and fashion. Sales fell 47 percent in the three months to June 30 due to store and workshop closures, anemic tourism and a lack of appetite for hard and soft luxury worldwide during the pandemic.

China was the outlier, growing 49 percent in the period. As a whole, the Asia-Pacific region was down 29 percent, with sales of 1.01 billion euros, and was Richemont’s largest market in the period.

In Europe, sales fell 59 percent to 436 million euros, with all markets impacted by public health protection measures, as well as by subdued local demand and a lack of international tourism. In the Americas region, sales were down 61 percent to 277 million euros, while in Japan they fell 64 percent to 112 million euros.

The Middle East and Africa region fared slightly better, with sales falling 38 percent, partly reflecting advanced purchases in anticipation of Saudi Arabia’s VAT increase on 1 July. Continue reading →

PRADA MINIMALISM

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For her last collection as the solo Prada creative director starting from September she will be joined at the creative helm by Raf Simons Miuccia Prada let five artists interpret her spring effort through five short videos, offering different interpretations and takes on the men’s and women’s lineup.

The message, The pandemic, the economic crisis, the social tensions spreading around the globe can’t leave anyone indifferent, and cannot leave a sensitive designer like Prada unresponsive.

This is a moment that requires some seriousness, a moment to think and to reflect on things. What do we do, what is fashion for, what are we here for? What can fashion contribute, to a community?”

In keeping with her commitment, the designer embraced an unfussy yet highly sophisticated approach, minimal yet emotional. Combining function and aesthetics, she proposed the alpha and the omega of the brand’s fashion lexicon, exuding no nostalgia, only contemporary desirability.

Touches of Nineties minimalism emerged along with a subtle Sixties vibe, but Prada really focused only on what is relevant today, for boys and girls, men and women, living in our own world, with its joys and its limits. Continue reading →

FRENCH HANDBAG 25 % MORE

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The administration of President Trump said late Friday that it would impose 25 percent duties on $1.3 billion worth of French fashion goods, the response to a digital services tax in France that impacts companies such as Amazon, Apple, Google and Facebook.

The office of U.S. Trade Representative Robert Lighthizer said it would delay implementation of the action for up to 180 days if “the Trade Representative determines that substantial progress is being made, or that a delay is necessary or desirable to obtain U.S. rights or satisfactory solution.”

That gives the U.S. and France until Jan. 6 to hold “bilateral and multilateral discussions that could lead to a satisfactory resolution of this matter,” the USTR said. Continue reading →

VIRGIL ABLOH RAISES $1M

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Virgil Abloh said on Thursday he has raised $1 million for a scholarship fund for Black fashion students.

The founder of luxury streetwear label Off-White and artistic director of men’s wear at Louis Vuitton has entered a long-term partnership with the Fashion Scholarship Fund to launch the Virgil Abloh “Post Modern” Scholarship Fund, which is endowed with a personal donation from the designer and matching funds from his partners Evian, Farfetch, Louis Vuitton and New Guards Group. The sum will provide scholarships to between 100 and 200 students of academic promise of Black, African American, or African descent.

“I was a student on a campus that was largely not as diverse as the world is. And it4s important to set up this foundation specifically for Black students who may feel like in the industry of fashion, they don4t see many people that they can identify with,” he added. Continue reading →

FRANCK SORBIER PARIS

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This collection features one of the major characters of the Comedia dell’arte: Il Medico.

Indeed, at the time of the Black Plague, the city of Venice paid doctors to treat the sick, rich and poor. If this mask with its long beak can make one think of a bird, it is nothing more than a filter capable of protecting against the epidemic transmitted by the air. A wooden cane was used to auscultate the patients.

The Statue of Liberty appears bound, wrapped, gagged, a whole symbol … As for the plague aka COVID 19, it is embodied by Ophelia Kolb and Il Medico, by Alexandre Risso, aka the medical corps, to whom we can only pay tribute.

From Haute Couture, here is the elusive poet of the new times, who inserts his Apollonide seeds to transform our world and eventually return it to us all in its original form. It is the sweetest message and the most violent of Fashion Week, but the most real at the same time, like a deity filled with frenzy, the Covid stigmatized in a Franck Sorbier dress, as if to control it better. Continue reading →

CHANEL ROCK COLLECTION

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Which makes it all the more surprising that Viard emerged from lockdown with a couture lineup so unapologetically maximalist, it could have walked straight off an Eighties runway. Party dresses, bling and Marie-Antoinette shoes were just some of the ingredients of her presentation during the online edition of Paris Couture Week

“It’s an eccentric girl with a touch of the Eighties. I wanted something joyful,” the designer said in a preview last week, as photographer Mikael Jansson shot models Adut Akech and Rianne Van Rompaey in an adjoining studio for the show video: a one-minute, 22-second burst of images spliced with grainy black-and-white footage.

There was a historical feel to the ample skirts, including what would have been the traditional finale dress: a bucolic bridal creation with a pannier-width skirt and blousy sleeves, and a front panel covered in dozens of tiny pleated bibs.

Heavy, flower-shaped gold brooches set with diamanté and semi-precious stones sprouted from a collarless gray and white tweed jacket flecked with gold – the fruit of a collaboration between embroiderer Lesage and jeweler Goossens. Continue reading →

DIOR FROM SKETCH TO SCREEN

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Paris Couture Week kicks off today with an online showcase instead of the usual lavish shows held across the French capital. Even if this could be a strong season in terms of creativity, because everyone is trying to find solutions, I think it won’t have the same splendor as a normal haute couture fashion week, Continue reading →

DIOR A CATHEDRALE SAINT-HONORÉ

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Interior garden, framed photos dotting the walls, vintage furniture and views of the Notre-Dame-de l’Assomption church. What a surprise a church facing Dior’s cathedral? Dior’s new five-story flagship at 261 Rue Saint-Honoré has the grandeur and intimacy of a Parisian apartment, But you can’t sleep there.

The boutique, which opened to the public on July 4, to please Donald Trump and after a dedicated day for VIP clients, is five times bigger than the store it replaces just down the street a major statement about the brand’s momentum, ambitions, and long-term view.

During a walk-through of the store on Thursday, Pietro Beccari, president and chief executive officer of Christian Dior Couture, drew a parallel to the founder. Continue reading →

SOCIETY ROOM 3

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Like a serie of “Charlie’s Angels”, borrowing their husband’s clothes, feminine expresses itself, with all outward signs of distinction forward, as a subtle way of wanting to touch the sublime and the chic at the same time. On Joe Dassin’s music and in a Loulou atmosphere, from the top of the “Falaise Louvre”, fashion, last Thursday evening, met to embrace each other without restriction with just only a touch down, and finally relive those furtive little moments of the Parisian presentations that we were finally missing so desperately. Continue reading →

FASHION CRUISE ON THE SEINE

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On the eve of the first digital fashion weeks in Paris for couture and men’s wear, Olivier Rousteing and Balmain are swooping in with a live, floating fashion and music spectacle, after doing 700 models in his kitchen, In addition he has built the baot in his Batheroom !!! He is very strong indeed.

A barge is to cruise down the Seine River on Sunday evening, giving anyone gathered on the banks or pedestrian bridges a view of vintage couture and other fashions, a mini concert by French singer Yseult, and a surprise dance performance. Dubbed Balmain Sur Seine, it’s Rousteing’s way of celebrating the end of lockdown in Paris, reaffirming its stature as the capital of fashion, and making luxury more democratic, who does not belong to the institutions of French fashion, is a heresy for a couturier who does not know how to sew! Continue reading →

CARTIER HUSSEIN PACHA

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Setting the bar for luxury in a coronavirus era, Cartier has called on a diverse cast of assured stars for this year’s blockbuster watch launch for the label the new Pasha edition that kicks off in China.

Rami Malek, Troye Sivan, Willow Smith, Maisie Williams and Jackson Wang for the campaign, which includes a movie with all five discussing creativity and achievement, as well as short films featuring each one, and images by photographer Craig McDean, all set to flood social channels starting July 1 in China. Continue reading →

ANNUAL GENERAL MELTING

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LVMH is seeing “fairly robust” signs of recovery in some of its activities in June after widespread shutdowns of its stores and factories in the first half of the year, chairman and chief executive officer Bernard Arnault said on Tuesday.

Speaking at the company’s annual general meeting, which was held online due to ongoing sanitary restrictions in France designed to limit the spread of COVID-19, Arnault said it was impossible to forecast the impact of the pandemic on the group’s annual sales and results since some regions were still in lockdown.

“We do not yet fully know the timetable for the return to normal in the different areas where the group is established and we do not know in particular when the virus will disappear, hopefully completely,” The lord said. Continue reading →

I AM NOT BLACK BY CIRCUMSTANCE

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Bet Awards give an awards to Assa Traoré who has nothing to do with the Fashion world! It does not make sens.

I really hope, as other awards shows start to come back, we will see more Black designers represented not just when it’s convenient,” said L.A. designer Claude Kameni.

There wasn’t an actual red carpet, but Sunday’s virtual BET Awards was an impressive showcase of Black style nonetheless, starting with host Amanda Seales, representing all Black-designed clothing, jewelry, hair-care and makeup brands, including a custom gown by Los Angeles-based rising fashion star Claude Kameni. We wanted to tell a story of Black creativity, pay homage to iconic moments of Black style, and amplify the work of these Black fashion innovators; said Seales.

The BETs are our Oscars, our Grammys, our everything, where we are able to show ourselves and have fun and show off; said her stylist Bryon Javar of the 13 looks, using pieces from Pyer Moss, Romeo Hunte, Sergio Hudson, Sister Love, Brother Vellies, Grayscale, Bishme Cromartie, Dapper Dan-Gucci and more, and paying homage to iconic moments in Black style history, from Hilary Banks Nineties power wardrobe in “The Fresh Prince of Bel-Air” to Janet Jackson’s fierce Rhythm Nation outfit. It made sense for this moment to celebrate Black everything Javar said. Continue reading →