New acquisition for Rochet Group. The French company, founded in 1908, specialises in the manufacture of watch straps (in leather and other materials) and leather goods. It has bought Sibra, a leading manufacturer of original equipment watch straps. This is the second acquisition after Bouveret in 2021. But Rochet Group CEO Charles Brunet has already […]
Consumption slows, fashion slows. For Salvatore Ferragamo, Aeffe Group, and Geox, the first half of 2024 provided negative signs. Hugo Boss and Manolo Blahnik, however, also experienced a gradual slowdown in sales. Salvatore Ferragamo In Salvatore Ferragamo’s (photo from ferragamo.com) first-half 2024 financial results, an operating profit of 28 million euro jumps out. In other...
Managerial circularity also exists. For example, that of Furla, which, for the third time, appointed Eraldo Poletto (pictured Imagoeconomica) to the role of CEO. Poletto, after eight months at Diesel and just over a year at Santoni, returns to lead the Bologna-based leather goods brand, having done so from 2010 to 2012 and 2013 to...
FineWoven has been left on Apple‘s back, forcing it to betray its own unique DNA. Yes, because once upon a time there was Steve Jobs‘ bitten apple, the technology brand that adopted the marketing strategies of luxury brands. Which ones? High positioning, scarcity (within a certain limit), strict control of distribution and, for that, no...
Time passes, but Tesla‘s so-called veg leather is not gaining admirers. Quite the contrary. SlashGear, an online technology portal, crushes it in no uncertain terms: it is not as durable as real leather, it swells and is difficult to maintain. In addition, SlashGear’s editorial team addresses a point that is very dear to us: they...
Furla, refinancing and restructuring debt. The Bologna-based leather goods brand has entered the negotiated debt settlement procedure, which only concerns financial debts. At the same time, it has allocated EUR 25 million. Furla enters the negotiated debt settlement procedure Furla decided to use the negotiated settlement procedure to restructure its debts to banks. According to […]
The fight remains uphill for Gucci. After losing 21% of revenue in the first quarter, the brand’s sales fell 20% in the April-June period. The half-year balance: –20%. Analysts expected better. Parent company Kering is following the same path, which was further confirmed in the second quarter (and 6 months), after the -11% of Q1. […]
While many slow down, Hermès accelerates and shows off its solidity, as the brand grew at a double-digit rate during the April-June period and closed the first half of the year with 7.5 billion euro in sales (+15% at constant exchange rates and +12% at current exchange rates). Margins proved in line with those of […]
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....
Loewe surpasses Miu Miu and Prada and becomes the hottest brand of the moment. This is confirmed by the Lyst Index ranking for the second quarter: the brand that LVMH has entrusted to the care of J. W. Anderson has experienced a surge in popularity. Its garments have seen a 29% increase in searches over...
Independent, original and unusual. This is how CEO Jean Cassegrain sees “his” Longchamp, the French leather goods maison founded in 1848. Although not releasing financial figures, the company said its revenues grew by 44% in 2023. Cassegrain also attributes this growth to its pricing policy and, in the meantime, reiterates that there is no chance...
There was a leatherworker in New York. He was at the Metropolitan Pavilion to exhibit at Lineapelle New York on July 17 and 18. The presence in the Big Apple of Stefano Giacomelli, CEO of Tivoli Group, can be told in different ways. They are all interconnected – as we shall see – to a...
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 […]
LVMH also suffers, and slowing down conspicuously. In the second quarter 2024, organically, revenue grew 1% (+3% in the first quarter). Overall, revenue for the first half of the year amounted to 41.7 billion euro compared to 42.2 billion of the same period of 2023. That means a decline of 1%, but a 2% organic […]
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,...
“The situation has worsened”, says Paolo Villa, CEO of Villa Group, in reference to footwear imports from Asia. The Far East to Italy trade route remains an open problem for companies, with a crisis that does not seem likely to be resolved anytime soon and, according to industry insiders, could last until 2025. Houthi attacks...
A new factory, a new brand and an ambitious project. Antica Cuoieria GRG, a historic company based in Porto Sant’Elpidio (Fermo) has more than tripled its turnover in the last three years. Specialising in the design and production of leather soles, it earned around EUR 13 million in 2023 (+35% on 2022) and wants to...
From ‘fight fight fight’ to ‘tariffs tariffs tariffs’. One way or another with Donald Trump it’s all about shoes. The shoes he launched in memory of the attack he suffered in Pennsylvania are a commercial success: the white version of the trainers is sold out. But on the other hand, now that his candidacy for...
It may be a move to speculate on the European anti-deforestation regulation. Maybe yes, maybe no. The fact is that India’s Finance Minister, Nirmala Sitharaman, has announced a major foreign trade liberalisation plan for Finance Bill 2024-25. A plan that considers, in a basket of goods ranging from precious metals to pharmaceuticals, the lowering of […]
Lineapelle NY’s signs are ones of avant-garde. Or, rather, of anticipation. That’s the main one that comes out of the rooms of the Metropolitan Pavilion, where a few days ago the edition of Lineapelle New York dedicated to the 25/26 winter season ended. A sign that also characterizes the photographs in the image gallery you […]
