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.
The board is intended to “raise the bar on the gallery’s strategic thinking and vision for the future,” founder Larry Gagosian said in a statement. In addition to Delphine Arnault, eldest daughter of LVMH chairman Bernard Arnault and member of the group’s executive committee, the board includes Snapchat’s Evan Spiegel, filmmaker Sofia Coppola and others.
Gagosian has firmly denied rumors that the Mr Gagosian, who owns 100% of the business, estimated to clear $1 billion in sales annually, is selling his gallery to LVMH. But the 77-year-old mega-dealer, a bachelor with no children, has yet to devise a succession plan and recently told The New York Times: “If somebody swooped in and wanted to make a major investment, I think anybody would listen to that.”
Prices are up, quality is down and social media has made it plain for all to see, writes Eugene Rabkin.
The Swiss watch sector’s slide appears to be more pronounced than the wider luxury slowdown, but industry insiders and analysts urge perspective.
The LVMH-linked firm is betting its $545 million stake in the Italian shoemaker will yield the double-digit returns private equity typically seeks.
The Coach owner’s results will provide another opportunity to stick up for its acquisition of rival Capri. And the Met Gala will do its best to ignore the TikTok ban and labour strife at Conde Nast.