CEO Michael Burke‘s front row presence at Martine Rose‘s fashion show ignited the gossip. Many wanted to see a clue about Louis Vuitton’s future, whose men’s line awaits the appointment of a creative director. According to some, Rose could be a candidate to succeed Virgil Abloh. From a hypothesis to a certainty. Because in the meantime Louis Vuitton is the first luxury brand to reach the Top 10 in the Kanatr Brandz global ranking. Meanwhile Bernard Arnault, number one of the LVMH giant that controls the French fashion brand, is optimistic: the group’s first-half numbers will be positive.
On the future of Louis Vuitton
Let’s start with the rumours. Burke’s presence at Martine Rose’s (41) London fashion show was enough to speculate that the designer is on the shortlist to succeed Abloh. As Hypebeast specifies, Martine Rose was shortlisted for the LVMH Prize in 2017 and was nominated for the BFC’s British menswear designer of the year award in 2018 and 2017. In addition to founding her own label, Rose was Demna Gvasalia‘s assistant for Balenciaga menswear.
With a brand value of 124.3 billion dollars, Vuitton is the first luxury brand to reach the Top 10 in the Kantar Brandz 2022 global rankings. The brand value grew by 64% in 2021. Louis Vuitton is also the first European brand to reach the global Top 10 since 2010. In the luxury category, Hermès is in second place with 80.32 billion dollars, then Chanel at 53 billion dollars.
Expectations for LVMH
LVMH does not seem to be too affected by the lockdowns in China and the war. This was said by its CEO Bernard Arnault, stating how the company is on “a good track” for performance in the first half of 2022. “I am optimistic, you will see the numbers,” Arnault told reporters at an event in Paris. Arnault, Reuters reports, said he is confident that central banks in the US and Europe can slow inflation without triggering a recession: “The global economy is at a turning point.”