Chanel raised its prices on March 2nd (as it had been saying it was going to). And the changes aren’t small. Price tags for desired handbags, such as Classic Flap, in the USA, have increased 16%. The increase in Europe reached +10%. Exchange rate fluctuations, inflation, the desire to become an increasingly exclusive brand: these...
Ferragamo doesn’t raise prices. Or rather: “At the moment it doesn’t see the need” to do it, says CEO Marco Gobbetti. That being said, the brand touched them up slightly to balance the geographies out. While luxury brands continue to increase their price tags (and French ones, such as Chanel and Vuitton, are actively doing so), the...
The Cleo Chandelier sandal turns 50. “It is a work of art. It’s like the Kelly bag,” says René Caovilla. In what way? Demand is so high that the brand cannot keep up with it. The identikit buyer is the 28-34 year old woman who has seen the model on her mother’s feet and now...
Footwear bring joy to Ferragamo and Aeffe. While the leather goods divisions are performing well, the footwear segment is also in health. It can be seen from the preliminary data published by luxury brands in 2022. After Zegna, Ferragamo and Aeffe also benefitted from the segment’s positive performance. The shoes’ sales of the Florence-based brand...
Footwear in the USA in 2023 will have many different styles. There will be room for sneakers (mostly retro), but also for moccasins, Chelsea boots and “elegant-casual” shoes. While, for the evening, black paint will be back in style. Brands that will want to export to the USA will need to keep in mind the...
Prada awarded a prize to the winner of an energy saving contest launched for its production sites. The Italian group is also among the signatories of the Collective Virtual Power Purchase Agreement promoted by Fashion Pact. It consists of a virtual contract with which 12 luxury players (such as Kering and Salvatore Ferragamo) make the...
Ferragamo in the 9 months of the financial year grew in double figures and by virtue of its performance sees a rosy future ahead. “I am particularly satisfied with the impact of the Spring-Summer ’23 collections,” says CEO Marco Gobbetti, “as well as the success of the Fashion Show, which makes us confident about accelerating […]
There is little doubt about the fact that luxury performance will remain at a high level. LVMH‘s quarterly report, the first in the periodic round of financial announcements, has already provided a foretaste. An analysis of the stock market performance, in a September-October that turned stormy between war and inflation, confirms investors’ confidence. But against...
There is nothing to talk about. There is no exit strategy for the Ferragamo family from the brand it founded. The president of the Florence-based brand, Leonardo Ferragamo, repeated it again: we will never sell the brand. Ever since 2018, rumors of a possible sale of the brand have become more and more common. Such...
From the extra-large shoulder bag by Vivetta (photo on the right). To the mini-bags by Giorgio Armani to be worn around the neck. There is a lot of choice within the various handbags showcased at SS 2023 during the Milan Fashion Week. Whether it’s large or small, the handbag remains a central item. It’s a symbol,...
Fashion from head to toe? Watch out for the right shoes. Milan Fashion Week (MFW) closed on September 26 with the Spring-Summer 2023 presentations. And we end the review by turning the spotlight on the shoes from the fashion shows. The fashion bigwigs showed off their best in the week of the great return to...
Ferragamo seems to have gone down the right path during the first half of 2022, in order to reach its goals: doubling revenue by 2026 to 2.3 billion euro. The Italian group closed the period with both revenue and margins above expectations. Ferragamo mainly has to thank the sales’ growth in Europe and the USA, […]
Armani could go to Mayhoola for Investments for an amount close to 5 billion euros. According to the well-informed, this is more than just a rumour, as exploratory talks between the Milanese group and the Qatari company are already underway. Mayhoola already owns Valentino, Balmain and Pal Zileri. If the deal were to materialise, it...
Lack personnel? Struggles with generational change? It’s the brands’ fault, as they focus too much on the brand name and product and not enough about attracting young workers. That’s the opinion of Micaela Le Divelec Lemmi, CEO of Ferragamo until last September. The manager commented on Linkedin the struggle of hiring new workers, a problem...
Well, look who’s back. Balenciaga is reviving the see now buy now, and making it couture. Yes, because the brand presented its second couture collection by Demna Gvasalia on July 6, in the salons at 10 Avenue George V in Paris. Immediately after the show in the same location Balenciaga inaugurated the store where to […]
Pavlovsky, Capasa, Boehly. These are the three presidents elected (or re-elected) in recent days to head fashion federations and institutions in France and Italy. The first, president of Chanel‘s Fashion Division will lead the Federation of Haute Couture and Fashion (FHCM). The second has been confirmed as head of Camera Nazionale della Moda Italiana (CNMI). […]
Burberry, as pointed out by Business of Fashion, could (and most importantly would like to) become the British Gucci. To do so, will the new CEO Jonathan Akeroyd follow the plan set by his predecessor (Marco Gobbetti) or change path? The choice today isn’t simple, given the complications caused by the following two factors: one, the […]
The effects of the war in Ukraine (which hasn’t been as quick as some expected) and the lockdowns in China are eroding the market cap of large groups, beside from Prada. Over 85 billion euro have been lost on stock exchanges during the period, and everyone has understood that this will be a complicated year...
Large cities in lockdown, industrial production slowed, GDP projection for 2022 lowered by the IMF from 4.8% to 4.4%. It’s now fair to talk about China’s crisis. The situation for the People’s Republic is alarming for luxury operators, as they see the Asian giant as the reference market in the area. Some groups and brands...
Non-sport shoes are alive and well. In fact, the numbers of second-hand transactions are living a very positive moment. Note: it’s not like sneakers are trending off (just the opposite), but consumers probably prefer changing type of shoes instead of buying a second pair of sneakers. The return to offices and events represent, in this...
