LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 2.7 percent in February, underperforming the MSCI World Index (“MSCI”) by over one percentage point. The SLI lost ground at the beginning of the month following the questions raised on sector growth by LVMH’s annual results announcement. Big news • Most analysts felt that LVMH’s organic growth numbers for 2012 were a bit lower than expected. This, combined with Mr.
PARIS, France – LVMH Moet Hennessy Louis Vuitton SA is poised to pursue a takeover as revenue growth, led by sales of its eponymous handbags, slows the most in four years. The $87 billion company could go after Burberry Group Plc, the U.K.’s biggest luxury-goods producer or Tiffany & Co., the New York-based jeweler, according to luxury industry analysts.
Arnault says Belgian move can shield LVMH (FT) “The head of LVMH has been accused by the media in his homeland of wanting Belgian nationality to escape President François Hollande’s higher French taxes but he has repeatedly insisted that he ‘is and will remain fiscally domiciled in France’.” The Milan Plan (China Daily) “The scene is familiar enough – an army of buyers, journalists, celebrities
The Branding of Dita Von Teese (NY Times) “Certainly she has bewitched the fashion world, gathering admirers like Christian Louboutin, Marc Jacobs (whose front row she has graced) and Jean Paul Gaultier, on whose runway she once performed an exotically elegant strip tease. She has appeared in a MAC cosmetics Viva Glam campaign. Her act, provocative in an airbrushed sort of way, has emboldened Cointreau, the upscale spirits
Marc Jacobs: Optical Allusions (IHT) “The Jacobs theory is to take an opposing stand: Whatever he did last season — layered, textured outfits with romantic big fur hats — goes into reverse for the next collection.” Yvan Mispelaere leaves Diane von Furstenberg (Telegraph) “French-born Mispelaere, who began his tenure at the DVF in April 2010, announced his unexpected departure just 48 hours after showing his last
The empire of desire (Economist) “Mr. Arnault is the chairman, chief executive and controlling shareholder of Moët Hennessy Louis Vuitton (LVMH), the world’s largest luxury group. Over the past quarter-century he has transformed a small, nearly defunct clothing manufacturer into a conglomerate that controls more than 60 luxury brands.” Talbots Accepts Lower Sycamore Bid in $369 Million Takeover (Bloomberg)
British menswear will get the recognition it deserves this summer (Guardian) "It's not long now until British menswear finally emerges from the shadow of womenswear to stage its very own fashion event in London. Goodbye one day of men's fashion tacked to the end of the women's shows, and hello to a three-day blockbuster event all of its own." Arnault to invest in Maxime Simoens (FashionUnited) "LVMH chairman Bernard Arnault is making an investment in newcomer Maxime Simoens. According to WWD, industry sources say that Arnault will take an as yet unknown stake in the 27 year old Frenchman's eponymous brand." Fancy hits 500,000 users with Pinterest-like social shopping service (Gigaom) "Well, Fancy is not Pinterest big by any means but it’s seen its user base double…
Reviving Sperry (Boston) “The 1990s were not kind to the Sperry Top-Sider. The iconic boat shoe blazed to the fashion forefront in the early 1980s after gaining fame and acclaim in ‘The Official Preppy Handbook’ and countless John Hughes films. But by the end of the decade, the New England-based shoe had fallen out of favor, the sartorial equivalent of Wang Chung.” LVMH CEO says sales growth speeds up in Q1
LVMH Profit Meets Estimates, Sees 2012 Growth (Bloomberg) “LVMH Moet Hennessy Louis Vuitton SA (MC), the world’s largest maker of luxury goods, reported full-year profit that met analysts’ estimates and said it’s “well- equipped” to maintain growth in 2012. Net income rose 1 percent to 3.07 billion euros ($4 billion) in 2011, the Paris-based maker of Zenith watches said today.” In cities, clothes maketh the man (China
Bernard Arnault Rethinks the Cult of Fashion Gurus (Newsweek) “Arnault suggests it’s time for change, time to recast his global, glittering, status-laden empire as something else. The watchwords are: intimate, Old World, artful. And the timing feels right… After all, Arnault has learned that rock-star designers come and go. ‘A good product,’ he says, ‘can last forever.’” SuperGroup rebuts
Fast fashion: Is the party over? (Telegraph) “Following on from H&M’s shock results in the final quarter of 2010 which saw profits fall 11 per cent, fashion comparison website Stylecompare.co.uk has today reported that year-on-year sales of ‘low end’ retailers fell by 21 per cent, as consumers flock to ‘mid range’ and eco brands for their fashion fixes.” Why Is This Man Smiling? (NY
PPR Chief to Run Gucci Himself (NY Times) “The French luxury magnate François-Henri Pinault said… he would personally take charge of Gucci Group as he reorganizes its parent company to focus on the most profitable businesses. Robert Polet, who has headed Gucci since 2004, will be stepping down in a few weeks… Mr. Pinault also said Paul Deneve would replace Valérie Hermann as chief executive of Yves Saint
For Fashion’s Bad Boy, No Secrets (NY Times) “[With Purple] and often salacious photographic blog, purple-diary.com, Mr. Zahm, a former art critic, has become a demi-celebrity in the fashion world. He likens himself to Andy Warhol, who managed a similar feat with Interview.” Discount luxury e-tailer BrandAlley to launch a crowdsourced platform (Independent) “Discount luxury e-tailer BrandAlley is launching a new