GENEVA, Switzerland — Cie. Financiere Richemont SA, the maker of Cartier jewelry and Montblanc pens, reported unchanged full-year earnings, capping three years of growth, after China cracked down on bribery and extravagance among government officials.
CHIASSO, Switzerland — As luxury watchmakers seek to keep increasing sales while preserving exclusivity, they are taking a leaf out of the haute couture book, making watches to order with anything from diamond stars to fully personalised shapes and decorations.
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.
PARIS, France — French billionaire Bernard Arnault wants you to spend the night and eat his pastries. After decades of acquiring luxury goods that consumers can drink and wear, the chairman of LVMH Moet Hennessy Louis Vuitton SA last week bought a five-star hotel in St. Barths and in June added a storied Milanese cafe, accelerating his push to meet all his well-heeled clients’ earthly needs.
ZURICH, Switzerland — Richemont boss Johann Rupert has promised to switch off his phone when he takes a break from the company in September. For the South African billionaire it will mark the start of a year-long sabbatical. For his younger managers, it will mark the start of a 12-month competition to show how well they can steer the world's second biggest luxury goods group in his absence - and possibly, ultimately, replace him.
With the support of L Real Estate, developer Craig Robins’ vision for Miami’s off-kilter luxury enclave is coming to life.
LONDON, United Kingdom — Louis Vuitton is losing ground as the world’s most valuable luxury brand as competitors including Gucci and Prada gain, a new research report shows.
Contrary to numerous reports, broad changes in Chinese consumer behaviour and sentiment — not the country’s much publicised anti-extravagance campaign — are the likely causes of China’s luxury slowdown, says Anne Zhang, a reporter for Chinese business magazine CBNweekly.
LONDON, United Kingdom — The Savigny Luxury Index (‘SLI’) increased by almost 3 percent in November, while the MSCI World Index (‘MSCI’) slipped nearly 1 percent for the month. From mid-November, global markets and the SLI enjoyed a strong rally on better economic news from China and hopes that the US might avoid the feared fiscal cliff. Big news A flurry of positive economic newsflow has lifted investors’
NEW YORK, United States — What makes a successful fashion film? Is it a strong visual concept? Content that can be quickly parsed? A savvy distribution strategy? Humour? Provocation? A famous model or a catchy soundtrack? Creating compelling fashion videos has always been more art than science. But as we set about compiling our ranking of this season’s best films, we saw some interesting commonalities. While Cartier’s 3-minute CGI
A Silk Road (Montecristo) “At the time, perhaps Ms. Kauffman didn’t realize she was grooming the young man to become one of the most successful young fashion designers of this decade. Already, at only 29 years old, Wu has established his own eponymous private fashion label; been a finalist in the Council of Fashion Designers in America (CFDA)/Vogue Fashion Fund in 2008; and dressed countless celebrities and starlets for
Into Africa (Telegraph) “Made in England; made in Italy; made in China. These are familiar labels in our clothes and accessories. But how about ‘made in Kenya’, stitched into the lining of a Vivienne Westwood handbag? Or on the swing tags of Matches ‘hot new collection, Suno, with its juicy mixes of colour and print?” For New Stars of London, a New York Debut (NY Times) “Among the world fashion
Escada in talks with insolvency experts (Drapers) “German womenswear brand Escada may cease to trade as it teeters on the brink of insolvency, according to its chairman Bruno Saelzer.” Sales ring the alarm on what defines luxury (Gulf News) “Inventory-driven business models now rule much of the high street apparel on offer. But the heavily discounted sales across town come to an abrupt end when you stumble upon