BEIJING, China — New Chinese first lady Peng Liyuan's choice of attire has sparked a flurry of excitement over an independent homegrown label, an unusual phenomenon in a country where political figures are more frumpy than fashionable and wives usually shy away from the spotlight.
The European luxury goods sector will continue to expand over the next five years at 6-7 percent, with the majority of growth driven by consumers from new markets, revealing just how dependent the sector has become on emerging economies.
PPR nears sale of Redcats catalogue arm (FT) “PPR is to announce the sale of all or part of its Redcats catalogue business before the end of the month, moving closer to its goal of becoming a pure clothing and accessories company.” Third of Prada managers leave after IPO (FT) “Prada the Italian luxury goods group, lost a third of its top managers in the nine months following its initial public offering last year
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 5.5 percent in August, outperforming the benchmark MSCI World Index (“MSCI”) by over four percentage points. Strong results by sector leaders confirmed continued growth in Asia and increased tourist spending in Europe, thanks in part to a weaker euro. Big news Richemont, Hermès, Prada, Tod’s, Michael Kors and Ferragamo all confirmed a healthy outlook for 2012, driven
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) inched up 1.0 percent in June, relative to an uplift of 2.8 percent in the benchmark MSCI World Index (“MSCI”). Newsflow from China continued to worry investors and sector results, although strong, did show signs of a slowdown in growth over the last few months. Big news China’s growth rate slowed for a sixth consecutive quarter to its slackest pace in over three years
Lunch with Stella McCartney (FT) “Even for someone as competitively normal as Stella McCartney, who somehow manages to take the position that – despite her status as a 40-year-old international fashion brand/Olympic outfitter/daughter of a Beatle/friend of Madonna, Gwyneth, Cameron et al/mother of four – she is Just Like Everyone Else, this seems to be going to extremes.” The Stylish Side of China (NY Times) “Ms.
How Will The Web Monetize In 2020? (TechCrunch) “The web is on the cusp of massive change: By 2020, the number of global internet users is expected to quadruple to 4 billion, and most of these new users will come online using multiple devices.” High Street fashion brands look to China for profits (BBC News) “Luxury labels have thrived in China and now their cheaper High Street counterparts are betting that young,
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) fell 4.2 percent in June, relative to an uplift of 4.0 percent in the benchmark MSCI World Index (“MSCI”). Worrying news out of China, the continued drama of the European debt crisis and downward revisions in growth estimates for 2012 caused the sector to go out of favour. Big news The month started off with a bang: China announced a slowdown in its factory output for the
Ending on a Grace Note (IHT) “For all the the flesh still flashed on the red carpets, there is a change of mood on the runways. Perhaps the change can best be seen in the long-sleeved dresses with hemlines at the shoe-level that have taken over for the once-prevalent winter bare-the-body look.” J Brand hires bank to explore sale, IPO (Reuters) “Women’s apparel maker J Brand has hired Morgan Stanley to help
Wings of desire: 175 years of Hermès (Telegraph) “Fast-forward to now, and Hermès is the world’s best-regarded luxury company. The regard is reflected in its performance: last year, its profits rose 41 per cent to £495 million. Its exquisitely printed silk scarves are lusted after, but the cult of Hermès is predicated primarily on its handbags.” Slowdown in China? Not for luxury brands (CNN) “China’s
LONDON, United Kingdom — The Savigny Luxury Index (SLI) traded in a relatively narrow bandwidth this month, slipping 0.3 percent, whilst the benchmark MSCI World Index (MSCI) edged up 0.2 percent. Worries over a slowdown in China were offset by yet another string of exceptional results announcements, resulting in a status quo for the month of March. Big news The sector has been awash with strong results announcements with Prada,
Michael Kors Brand Takes on Coach in U.S. Luxury Market (Bloomberg) “Coach Inc. faces an upstart with momentum and brand recognition. His name is Michael Kors. Since the designer’s company went public three months ago, his ambitions have become clear.” Ferragamo eyes growth after profits beat forecasts (Reuters) “Italian luxury shoemaker Salvatore Ferragamo is expecting ‘significant growth’ in 2012
Sometimes the Point Is Hard to See (NY Times) “What do you want from a designer? You want a look, not a million things. You want a single inspiring look that you didn’t have yesterday. And that’s why Joseph Altuzarra’s tough coats (in all kinds of classic materials) worn with blousy cargo pants tucked into tight, over-the-knee black boots worked.” U.S. designers lag European labels in wooing China (Reuters)