The Savigny Luxury Index fell 2.2 percent over the month, as adverse foreign exchange movements continue to weigh on the luxury sector’s growth.
The Savigny Luxury Index continued its upward ascent gaining over two percent this month, driven by positive newsflow and reassured prospects for the Chinese economy.
PARIS, France — Crocodile-skin handbags can be to die for. Really. As demand from the world’s elite surges for the skins, luxury-goods companies from LVMH Louis Vuitton Moet Hennessy SA to Gucci-owner Kering SA are making acquisitions to secure supply of the beasts, whose habits can make simply collecting their eggs a matter of life and death. Raising the reptiles from hatchling to arm candy without scratches from other crocs is
In Italy, a British Outpost (NY Times) “In other words, Burberry, Dsquared, Cavalli and Gucci are not names you will often read in the same sentence. Yet a pronounced Englishness ran through the collections from each of those houses, making Milan feel temporarily like an extension of the Tuscan region called Chiantishire.” Youth Is Beautiful (IHT) “The passing of the flame from a much older 70-something generation
Gucci Feeds Its Florentine Roots (IHT) “The museum, housed in a 14th-century building in the Piazza della Signoria, is designed to honor the company’s leather goods legacy and to bring it into the 21st century by juxtaposing the innovation of bamboo-handled bags or luxe sports equipment with modern art… The idea of facing off past with present — under the slogan “forever now” — was the brainchild of Frida Giannini, the
Cavalli agrees to sell 30 percent to Clessidra (Reuters) “Italian designer Roberto Cavalli has signed a letter of intent with Italian investment fund Clessidra to sell 30 percent of his fashion house.” New Look EBITDA soars 10 percent (Drapers) “Total group sales in the year to March 28, grew by 14.9 percent to £1.32 billion and EBITDA rose 10.2 percent to £217.6 million.” What Is Sugar, Inc. and Why Is It
H&M launches home textiles bid (WSJ) As a way to buffer the lackluster fashion market, H&M has launched a textile business which was slated for a 2007 debut. Ittierre to Sue Cavalli (WWD) Ittierre SpA is suing Roberto Cavalli for his comments regarding their ability to turn the company’s bankruptcy around. (Subscription required) Chanel Closing Two Japan Stores (WWD) As the Japanese economy sinks further into
Gap earnings rise but sales fall (Drapers) “Total international sales fell slightly to $505 million over the fourth quarter.” US economy contracts 6.2% (FT) “The US economy contracted by an annualised 6.2 per cent in the final quarter of last year, revised government figures showed on Friday, the sharpest quarterly contraction since 1982 and a sign of an even deeper recession.” Reiss plans young, cheaper