The revenge of “little guys.” Giants like LVMH and Kering seem to be suffering more from the luxury slowdown than some smaller (let it be said…) and independent brands like Hermès, Moncler, Zegna and Cucinelli. The bias does not seem to be rewarding the conglomerates, which analysts and insiders have always described as more resilient....
Pattern Group announced an investment of 12 million euro to build its new headquarters in Turin. The move to the new site (Collegno location) is scheduled for 2025. Pattern group is present in 7 Italian regions with 13 plants, and the entity ended 2023 with a revenue of 145.6 million euro and operating profit of […]
Despite the crisis, luxury still grows on the stock market, where it performs better than companies in other commodity sectors, at least for now. Thanks to Hermès, its leather handbags and its prices. In 2024, luxury stock prices rose 8% year-on-year. The most interesting ones? Hermès (precisely), LVMH, Brunello Cucinelli, Ermenegildo Zegna, Moncler, Prada, Richemont,...
According to the Bloomberg Billionaires Index, the assets of a panel of about six luxury entrepreneurs fell by 5% this year, with a total loss of about $24 billion. The loss is concentrated in the high-end industry, because the remainder of the individuals considered in the list of the 500 richest people on the planet […]
For some brands, discounts and promotions are becoming a factor in the luxury goods trade in China. Especially online, as the various e-tailers try to counteract the drop in proceeds by reducing prices. Burberry, Versace, Marc Jacobs, Bottega Veneta and Jil Sander are among the brands using the leverage of discounts and promotions to move...
And so it’s here: an in-crisis Burberry changes CEO. The British luxury brand has appointed Joshua Schulman as its new CEO. He will take over, effective immediately, from Jonathan Akeroyd, who is leaving the company with a mutual agreement with the board. Burberry also reported retail sales for its first quarter 2024 (April-June): £458 million, […]
Mulberry and Dr Martens are having a bad moment. In a surprise move, the British fashion house has changed its CEO, after nine years, replacing Thierry Andretta. In his place comes Italian Andrea Baldo, former CEO of Ganni. The change appears to be a consequence of the brand’s declining sales. Dr Martens, on the other...
Never on discount. The product is at the heart of the brand BnGRS business. It is patented, it is made in Italy, it is handcrafted, it made of leather. And since last year, it has been produced in-house. The growth trajectory of the company based in Sant’Ambrogio di Valpolicella (Verona) will continue in 2024. We...
Burberry is reportedly set to cut 400 jobs as part of a cost-saving plan to offset declining profits. The layoffs are expected to mainly affect the company’s British offices. There are fears that Burberry is just the first brand to make such a decision and that the luxury cuts could come to Italy as well. […]
Does Burberry need to become the Coach of the UK to lift itself up? The strategy of elevating the brand’s positioning is not yielding the desired results. Not even after many years and huge investments. Now the British brand is in the eye of the storm because it may cut hundreds of jobs. Should it,...
Louis Vuitton is about to raise prices (at least in China, where the rumor originates). The polarization of luxury can mainly be seen in pricing policy, or in the ability to set prices. There are those who can, and those who cannot. Bloomberg just wrote that Balenciaga, Versace, Givenchy, and Burberry, via different strategies, have...
In the fashion world, after a long season of escaping upwards price lists, the about-face has begun. Certainly not from Hermès, Chanel or Louis Vuitton. But by those who cannot afford the heights of the price lists. Who? Balenciaga, Versace, Givenchy and Burberry. “It seems natural that, in this context, brands that sell less than...
Saint Laurent lowers prices. Gucci diversifies its offering. Have luxury brands understood that they have taken things too far? Analysts have little doubt: according to them, brands have been too aggressive in raising prices and are now paying the price as the number of pieces sold falls. Saint Laurent is lowering prices Major luxury brands...
Virginie Viard is leaving the directorship of Chanel. The rumor, which has been circulating for a while, has been confirmed. The fact that just 15 days ago Leena Nair, the brand’s CEO, had publicly praised her work, especially in terms of sales, wasn’t enough. The $12.4 billion collected by the Wertheimer brothers’ holding company from […]
Fakes are still a problem, and companies are investing to curb the phenomenon. The last to do so is OTB group, which will equip all Jil Sander, Maison Margiela, and Marni products with digital certificates of authenticity, starting with the fall/winter 2024/2025 collections. The announcement comes at the same time as a seizure of fake...
UK fashion brands are in trouble. After Burberry, Britain’s two best-known footwear brands, Dr Martens and Clarks are also struggling. Especially when it comes to generating profits. Both brands are revolutionizing their management team to try to get back on track. Particularly in the U.S. market. They are preparing strategic plans to achieve their goal,...
On the white granite blocks of the Museum of Art Pudong in Shanghai, the space-time journey of Balenciaga’s Spring 2025 collection is staged. Demna Gvasalia, the brand’s creative director, proves once again that he is the only one who uses fashion as a tool for criticism, while being totally at ease with the system. A...
The Wall Street Journal cites data to explain how the lag of brands like Burberry and Gucci is unbridgeable. LVMH’s marketing budget increased from €6.3 billion to €10 billion between 2019 and 2023, which resulted in Vuitton&Co’s spending, on promotion and communication activities alone, “three times the annual sales” of the British trench coat brand....
Agility and timelessness represent Ralph Lauren’s strengths, according to its CEO Patrice Louvet. Yet, it’s to be kept in mind that the brand has increased prices in the DTC (direct-to-consumer) sector for 28 consecutive months. Customers have been responding well. This pathway has enabled the brand to exceed the analysts’ forecasts for both sales and...
Record-breaking. In addition to sales prices, Chanel’s investments and revenues are growing, reaching $19.7 billion in 2023. That is: +16% on a comparable basis on 2022. Operating profits increased 11% to $6.4 billion. The last quarter of the year was also positive, as sales grew 14%. CEO Leena Nair (pictured) and CFO Philippe Blondiaux spoke […]
