The new chapter in the Gucci saga was staged on Monday, 13 May 2024, at London’s Tate Modern. Sabato De Sarno, the brand’s creative director, turns everything upside down again, taking inspiration from the founder Guccio Gucci and the brand’s roots. “Englishness with an Italian accent”, were his words, even though De Sarno created a...
Beijing plans on creating a huge duty free zone of more than 33,000 square kilometers off its coast, to stop the hemorrhaging of consumption in other countries. Since the beginning of 2023, that is, since the end of pandemic-related restrictions, the Chinese have resumed traveling and, therefore, shopping abroad. In recent months, aided by the...
Crazy prices: in the US they close their wallets, in China they turn to second-hand. Luxury costs too much, and the ever-increasing price tags have driven aspirational consumers away and caused the wealthy to rethink their spending, preferring travel, food and other experiences. Citi tells us that credit card payments in the US were down...
Prada has budgets for new acquisitions, also and above all for the supply chains because it has a programme to strengthen its production capacity from year to year. “We think that being able to give generational stability to many medium and small companies is our entrepreneurial role and also a minimum of responsibility”, said CEO […]
All the things L Catterton will do with Tod’s completed delisting. It will invest in the group to increase its profitability, and the areas where it needs to improve will be many, judging from the opinions of insiders. For example: growing the U.S. market, revitalizing Fay and Hogan, and expanding apparel. All this will take...
What is accessible luxury? Why is it growing? What does a brand need to do to thrive in this market segment? The category over the past decade has exploded and transformed, to meet a new need. Today it represents the highest number of customers in its history as luxury brands have practiced continuous price increases....
Prada doesn’t know what crisis mean. In the first quarter of 2024, the revenue of the Italian luxury group amounted to 1.19 billion euro, up 16% at constant rates. Miu Miu took off thanks to an 89% retail sales’ increment. The Prada brand also did well (+7%). It’s also worth mentioning the inversion of the […]
Gucci strengthens its management team and proceeds to redefine its top management. The latest in chronological order is the arrival of Stefano Cantino (formerly at Prada and Louis Vuitton) in the new role of deputy CEO. Together with the brand’s CEO Jean-François Palus, he will be responsible for defining and implementing Gucci’s strategy. Meanwhile, Louis...
The alarm is sounding in China. The rating agency Fitch, in cutting China’s sovereign credit risk from stable to negative, confirms the economy’s problems. This country’s growing fiscal deficit is “a major concern”. Beijing, which described the cut as “regrettable”, has also contracted debt to stimulate domestic consumption while grappling with the property crisis. Without...
It seems that Hedi Slimane‘s adventure at the helm of Celine is in its final chapters. Indeed, according to rumours, it’s only a matter of time before the designer (pictured right) will be booted out. Some say the divorce is so ripe that Slimane is already close to a new job at Chanel. But the […]
Brands (especially independent ones) are on the hunt for aspirational consumers, as the category is being cut off by luxury brands practicing price increases. But it’s a complex context, as the same category is being affected by lower purchasing power and consumption is thus slowing. Yet, the segment remains interesting: McKinsey estimates its value to...
Prada too is courting the VICs (aka the Very Important Clients) and preparing a mega-investment in Milan. “We have been working to win over certain luxury customers with a specific offer tailored to the high-end, through specific services and spaces within our distribution”, says the brand’s CEO, Gianfranco D’Attis, who gives the example of the...
Chanel raises prices again. All-around. That is, on the one hand from France, fashion division president Bruno Pavlovsky theorises about future price increases. On the other hand, in Asian stores, the increase is a reality: thanks to an adjustment of between 2.8 and 8.3 per cent, the iconic medium flap bag exceeds the USD 10,000...
Will Kering‘s tumble pull luxury along or not? Because it is one thing talking about “slowing growth”, and quite another to record negative numbers. Insiders and analysts are trying to answer the question. The performance of the various brands depends on their exposure in China, where sales are cautious. And also, on the performance of...
For the very refined French customer audience, the most prestigious handbags are Chanel and Hermès. But the third wheel is the “little” Tod’s, which gives giants like Louis Vuitton and Dior a run for their money. With the collaboration of Promise Consulting, Bernstein interviewed 309 French consumers (and analysed 4,720 total answers). Thus, they checked […]
Two Italian luxury groups in great shape, Prada and OTB. Two only apparently “secondary” brands that continue to grow. On the one hand, Miu Miu, younger brother of Miuccia Prada’s brand, which closed 2023 with a 58% increase in revenue. On the other side Maison Margiela, the second brand after Diesel of the group founded...
Prada’s sales reach 4.7 billion euro in 2023 and the brand plans to invest 1 billion euro in the physical retail channel in the next 5 years. The Italian luxury group published its financials, showing a 17% growth on 2022. As far as brands go: Prada +12%, Miu Miu +58%, Church’s -13%. Net income grew...
Latest from Paris Fashion Week (26 February to 5 March), which closed with Ghesquière‘s homage to Louis Vuitton, while Miu Miu amazed with a collection that addressed the act of dressing as representative of every stage of life. Ghesquière’s homage to Louis Vuitton In the Cour du Carrée of the Louvre, the new collection of...
“Luxury should be fun”. This is how Kim Jones and Silvia Venturini Fendi presented the Fall-Winter 24/25 collection during the last Milan Fashion Week (20-26 February). A collection that included a “lollipop bag”, a pure expression of funny fashion: the new Fendi x Chupa Chups leather lollipop holder. And this was not the only “object...
Low, comfortable and made of leather. One only has to look at the latest collections to realise that the iconic Mary Jane model is back. Having become recognisable over time with their black leather upper, rounded toe and an instep strap, the Mary Jane has its roots in childlike aesthetics and school imagery. But the […]
