The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
On Friday, the luxury goods group named the nine shortlisted brands that will compete for this year’s LVMH and Karl Lagerfeld Prizes.
Finalists include: Aaron Ash; Julie Pelipas’ Bettter; Burc Akyol; Diotima by Rachel Scott; Raul Lopez’s Luar; Magliano by Luca Magliano; Paolina Russo; Veronica Leoni’s Quira; and Setchu by Satoshi Kuwata.
This year’s winners will be selected on June 7 by a jury of some of LVMH’s top designers and executives. The LVMH Prize recipient will be awarded €300,000, while the Karl Lagerfeld prize winner will receive €150,000; both will also receive year-long mentorship from LVMH executives.
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Britain’s S.S. Daley Wins the LVMH Prize
ERL and Winnie New York were runners-up. Steven Stokey-Daley will be awarded €300,000 and a year of mentorship from executives of luxury’s biggest conglomerate.
Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholder’s documentation guaranteeing BoF’s complete editorial independence.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.
Fashion’s presence at Milan Design Week grew even bigger this year. Savvy activations by brands including Hermès, Gucci, Bottega Veneta, Loewe and Prada showed how Salone has become a ‘critical petri dish for dalliances between design and fashion,’ Dan Thawley reports.
The Hood By Air co-founder’s ready-to-wear capsule for the Paris-based perfume and fashion house will be timed to coincide with the Met Gala in New York.
Revenues fell on a reported basis, confirming sector-wide fears that luxury demand would continue to slow.