Jen Atkin’s Editorial Site Mane Addicts Shuts Down, Lays Off Team
Ouai founder Jen Atkin’s 10-year-old editorial hair care site Mane Addicts has effectively shut down.
The fashion giant has been working with advisers to study possibilities for the Marc Jacobs brand after being approached by suitors.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.
This week, Kering flagged sales were down 20 percent at its flagship brand, knocking confidence in the group’s turnaround strategy. ‘A more drastic solution is required,’ one analyst wrote.
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Kering’s first-quarter revenues will likely decline by 10 percent on a comparable basis, the Paris-based luxury group flagged on Tuesday.
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The French group seen as a bellwether for the sector expressed tempered optimism for 2024.
The former Louis Vuitton CEO will become chief executive and chairman of the unit that houses Celine, Loewe, Givenchy, Marc Jacobs, Pucci and Kenzo, effective February 1.
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Sales rose 8 percent year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.
With global demand in flux, brands ramped up their presence at concert tours, Formula One races, tennis championships and more. New creative directors debuted at Louis Vuitton, Gucci, Burberry and Tom Ford.
Laurent Malecaze, currently chief executive of British menswear label Dunhill, will replace Riccardo Bellini, who is set to exit Chloé at the end of the year.
At an investor day in New York, the Italian luxury group laid out plans for newly acquired Tom Ford, as well as Thom Browne and its namesake Zegna label.
Ouai founder Jen Atkin’s 10-year-old editorial hair care site Mane Addicts has effectively shut down.
Sales rose 4 percent on a reported basis, as consumer pullback from Japanese brands and inventory adjustments dragged down overall earnings.
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections.
The American apparel chain will reopen a womenswear store in the retail neighbourhood since its last location closed in 2018.
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
Researchers have expressed concerned that AI-generated content could be used as misinformation in an attempt to interfere with US elections this autumn.
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
The company’s net sales came in at $1.48 billion in the quarter ended March 30, compared to analysts’ average estimate of $1.50 billion, according to LSEG data.