The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
MILAN, Italy – With the release of Bottega Veneta’s sales figures for 2012, the PPR-owned Italian maker of discreet high-end leather goods and ready-to-wear publicly joins a small club of luxury companies that have crossed over into $1 billion-plus sales. While several mass luxury brands such as Coach and Michael Kors have surpassed the $1 billion mark in recent years, among high luxury brands only megabrands like Louis
MILAN, Italy — We tipped our friend Sonny Vandevelde to give us a behind-the-scenes look into the collections in Milan for Spring/Summer 2013. Japan was clearly on the mind, with unmistakable silhouettes and motifs from the island nation appearing in strong outings from Prada and Etro. Versace and Dolce & Gabbana made their seasonal statements in a flurry of prints, textures and covetable accessories, all in the spirit of their
Theory’s Designer Shapes a New Future (IHT) “Mr. Rosen was asked whether the seemingly sudden decision to hand over creative control of Theory to the young designer was a risky move. ‘To me, it’s not a risk,’ he said. ‘I know Olivier, and I know his understanding of Theory. I think it’s a great opportunity. I didn’t need a reaction from the consumer on Theyskens’ Theory. It’s amazing clothes that will
Why designers love to dress pop music’s leading ladies (Independent) “A quick glance at red carpeted occasions explains why designers, while still happy to dress actors – from fledgling talent to veritable superstars – might find working with their musical counterparts more inspiring.” Bottega Veneta expands with bags of ambition (FT) “Bottega Veneta, which has built a reputation as a discreet, logo-free
Tom Ford's Private Spring '11 Show (Grazia Daily) "If there’s one man who knows how to tantalize an audience, it’s Mr Tom Ford. Because, as a New Year gift, the designer has bestowed upon us super-glossy footage of his highly-secretive, high-security showcase four months after it took place." Regulator to weigh Hermès buyout waiver (Reuters) "France's stock market regulator will examine Hermès request for a waiver on buying out minority shareholders on Thursday as the luxury goods maker tries to fend off a takeover from rival LVMH, according to a person familiar with the matter." 7 Stellar Examples of Branded Content from the Fashion Industry (Mashable) "From online blogzines to Tumblr-powered micro sites, branded content is quickly becoming a cost…
Phoebe Philo’s Third Act (T Magazine) “A designer’s debut at a new label is always exciting, especially if it is backed by a luxury colossus, as Céline is by LVMH. But this particular designer is the fashion superstar who made Chloé one of the hottest labels of the early 2000s.” Bottega Veneta Grows Up (WSJ) “As Bottega pursues its strategy to grow from a niche player into a global brand, it has been conducting a
How Westfield won us over (Independent) “When the Australian property giant, the Westfield Group, opened its shining, £1.7bn retail cathedral in Shepherd’s Bush, West London, on 30 October 2008, its timing could not have been worse…One year later and the mood music from a number of the centre’s retailers appears more positive.” Boutiques close as recession reshapes high street (The Times)
Bottega Veneta Invests in Cruise (WSJ) In a difficult time for luxury retailers, Bottega Veneta is launching a glitzy marketing campaign. Returns on the Rise–Retailers Are Rolling Out More Flexible Return Policies (WSJ) According to the Wall Street Journal, "Retailers are expected to see the value of merchandise returned in 2008 increase a whopping 23%." LVMH Stresses China Growth (WWD) LVMH "issued a statement saying its business in China remained strong." Macy's Posts $44M Loss in Q3 (DNR) In its Q3 ending in the 4th quarter, Macy's posted a $44M loss. Bottega Veneta's Cruise campaign, photo courtesy of Bottega Veneta.
News flashes have been coming in today from investment analysts covering PPR, which reported its 1Q08 results earlier today. The news is not good for the Gucci brand, but Bottega Veneta has managed to beat market expectations, even in this downbeat economic environment. Gucci sales only increased by 2.4% to €513m, versus market expectations in the neighbourhood of 7% growth. As a result, some analysts are considering posting downgrades to their ratings on the PPR stock. Given it's self-stated positioning as an 'Aspirational luxury' brand, it may not seem surprising that Gucci would be one of the first brands to show signs of the economic slowdown. But that's not the whole story. Interestingly, the slowdown in sales growth is not…
While London is often the spark of new ideas and New York is confidently commercial, the Milan shows usually sit somewhere in between. They may not be the pushing the limits of fashion in terms of new ideas, but they specialise in striking the right balance between commerce and creativity. Many buyers and editors complained of an uncharacteristically inconsistent offering from Milan's usually focused designers last week. But we think there was a lot to be impressed by in Milan, especially from the some of the heavyweight brands who show there. Take Burberry, for example. Christopher Bailey is on a clear winning streak, softening his approach this season with the perfect autumnal mood for the urban birds who walked down…