However it goes, it won’t be a success: 2023 will be a more difficult year compared to the two previous ones. Especially for European fashion brands, said Achim Berg, partner at McKinsey. “During the first 6-9 months of 2023 there will be no improvement of the current trend, but rather a worsening” of business for these...
After a year, Daniel Lee still hesitates about Bottega Veneta. The designer (pictured, archive) does not speak openly about his sudden divorce from the Kering-controlled brand. He claims, however, to have left an impression: “I think people will see how the team will continue to work together”. Even today, when he has now joined Burberry,...
Tom Ford selling his brand. Raf Simons closing his. Alessandro Michele (on the left, in the Shutterstock photo) parting ways with Gucci. Riccardo Tisci being on the market. Virgil Abloh‘s replacement at Louis Vuitton still not there. The rumour about Donatella Versace (on the right, in the Shutterstock photo) and the speculation about her future....
There are two reasons why Jonathan Akeroyd chose Daniel Lee to head Burberry‘s style direction. The first is chauvinistic, so to speak: to bring back, after Riccardo Tisci, an Englishman to head the British brand. The second is curriculum-related: because Lee is a former Bottega Veneta. And for Burberry, which wants to double its share...
Burberry aims to reach a revenue of 5 billion UK pounds in the long-term. It means (almost) doubling the 2.83 billion with which it closed its last fiscal year in March 2022. How? By doubling sales of leather goods, shoes and prêt-à-porter for women. This also means growing accessories’ sales to account for over 50% […]
The president and CEO Michael Burke stated it clearly: the nomination of Abloh’s successor for the Men collections of LV isn’t imminent. On the contrary, “We need somebody different from Virgil at the time of his passing – says the manager to WWD, as he presented the Edward Nardoza CEO Creative Leadership Honor award –, and that...
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 a sacred alliance between a market segment, a product segment and a material. Because when one says luxury, one thinks of handbags. And when one thinks of a handbag, what comes to mind is a product made with leather. The impact on business is immediate: wealthy people, we know, spend little time between...
As of Monday, October 3, the creative director of Burberry will no longer be Riccardo Tisci, but Daniel Lee. The news was in the air, and was made official on Wednesday morning, September 28, with two separate press releases from the British maison. Lee, for three years, led (overturning) the style of Bottega Veneta. Then, […]
While waiting for decisions on the creative directions of Louis Vuitton and Burberry, the merry-go-round of stylists and designers remains in motion. The latest appointments concern the designers of Giuseppe Zanotti and Shang Xia. Nicolò Beretta will join the Italian brand to develop a new line of shoes. The Chinese brand controlled by Exor, on...
Luxury brands are trusting in men’s accessories. Shoes and, even more, leather goods. The latter, for example, is worth 30% of the overall offering of Saint Laurent and 28% of that of Louis Vuitton. For Gucci, which has 37% of its total offering be accessories, “only” 19% is men’s. For footwear the percentage is of...
Former Bottega Veneta Daniel Lee towards Burberry to replace Tisci. And one between Martine Rose, Grace Wales Bonner and Telfar Clemens to Louis Vuitton to fill the role left vacant by Virgil Abloh. These are the rumours according to which the British brand is considering a change in its creative director, and now has to...
It is a scorching summer for luxury. There is the boom in the US, of course. But also, the slowdown in China, the risk of the cryptocurrency crisis ruining the financial condition of many. Not to mention war and rising inflation. If wealthy customers care little about petrol prices, everyone else could keep their wallets...
Leather goods and footwear are the boosters behind the recovery of the fashion and luxury segments. That’s the opinion of Claudia D’Arpizio, senior partner at Bain & Company, which during the opening ceremony of the 35th edition of Milano Unica, presented an analysis of the industry. The sale of handbags, leather goods and shoes, allowed the...
Speculation continues as to who will be Louis Vuitton‘s next menswear creative director. The shortlist of favourites, meanwhile, is shrinking. Many publications express their predictions on the basis of evaluations, rumours and news (more or less verified). Or on the interpretation of facts. Like when Louis Vuitton CEO Michael Burke attended Martine Rose‘s fashion show...
Fueled by price tags’ increments, the results of luxury brands during the 2nd quarter will surprise investors. That’s the summary of HSBC, which sees Europe, Japan and South Korea growing, while the USA will confirm the positive trend and China carries concerns over the (inevitable) impacts of its zero-Covid policy. HSBC believes the luxury industry […]
A rhetorical (and very questionable) question. “Is This the Beginning of the End for Leather?”. Many other questions though, aren’t asked. Business of Fashion published an in-depth article on Bolt Threads, MyloWorks and other startups that study vegan textiles obtained from mycelium, the fiber of fungal origin. There is one detail about the article we...
The photo is already, in its own way, part of the news. Because scrolling through Burberry‘s catalogue, looking for accessories in exotic leathers, it’s not as if much stuff comes up. On the contrary, the very pocket handbag we have elected as our image is not even made of python, but of python-printed calfskin. And...
Mergers and acquisitions in the luxury market: who’s buying who? Or rather, who is Kering buying in response to LVMH’s purchase of Tiffany. Analysts indicated Burberry of a jewelry brand as the perfect target for Kering’s portfolio. Bernard Arnault, owner of LVMH, is ready to take on the next opportunity also via the “tool” L...
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 […]
