LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) lost 1.5 percent in April, underperforming the MSCI World Index (“MSCI”) by almost two percentage points. Luxury spending in Europe has been hit by a drop in tourist demand, as well as price increases by brands seeking wider margins. The unusually cold weather, particularly in March, also contributed to weak demand for Spring/Summer ready-to-wear collections.
Back from a whirlwind trip to Mumbai, India, BoF’s editor-in-chief, Imran Amed reflects on the development of the local economy and the luxury goods and fashion market.
PARIS, France — Hermes International SCA, the French maker of Kelly handbags and silk scarves, reported a 10 percent rise in first-quarter sales as demand increased in all regions, led by Asia.
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 1.6 percent in March, outperforming the MSCI World Index (“MSCI”) by just half a percentage point. The SLI has been quite volatile over the month with the eurozone crisis and the US debt ceiling taking centre stage again.
PARIS, France — Hermes International SCA, the French maker of Kelly bags and silk scarves, reported 2012 earnings that exceeded analysts’ estimates as Asian demand soared and proposed a dividend of 2.50 euros a share.
LONDON, United Kingdom — The Savigny Luxury Index (SLI) gained 2.8 percent in January, outperforming the MSCI World Index (MSCI) by a touch over 1 percent. Positive economic news coming out of China sent the SLI into a mini-rally at the beginning of the month, however mixed corporate results announcements took some of the wind out of its sails. From a mergers and acquisitions perspective though, the year has started off with a
Today, BoF columnist Bandana Tewari reports on Project Renaissance, a unique collaboration between Indian artisans and international fashion brands organised by Vogue India in celebration of the magazine’s fifth anniversary. MUMBAI, India — Living in India, it’s not difficult to see the magic that lies in the country’s artisanal crafts and textiles. From the foothills of the Himalayas to the tip of Kanyakumari, there is tremendous
Colin’s Column | Is Haute Couture Poised for Reinvention or Irrelevance? (Opinion) “Couture! This magic word was all but forgotten 30-odd years ago, except in the most exalted and privileged of social circles. Since its high point in the late 1940s and 1950s, couture clients had shrivelled away just as the lifestyles the couturiers once clothed had withered as well.” Colin’s Column | Paris Couture Week,
The Discreet Charm of Christophe Lemaire (WSJ Magazine) “It’s been two years since Lemaire was hired to replace Jean Paul Gaultier as the designer of women’s ready-to-wear for Hermès. This accounts for less than 10 percent of the company’s sales and is dwarfed by accessories, which have the advantage of being both more iconic… and more accessible, like its silk scarves, watches and enamel
Tory Burch has good reason to party after a billion-dollar brainwave (Telegraph) “Tory Burch may well just have made a $1 billion faster than any other woman in history; faster, possibly, than even that alpha male of fashion, Ralph Lauren. After a fair amount of hoo-ing and haa-ing, Burch, who owns 28.3 per cent of her label, quietly settled a dispute with her former second husband Chris Burch on New Year’s Eve, which
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’
Longchamp: A long way from pipes in Paris (Independent) “Longchamp’s signature product is a handbag seen on the arms of hundreds of women everywhere from London to Sao Paulo and Singapore. Its Le Pliage foldable handbags launched in 1993 and the company still sells three million of them every year, helping to explain a recent 22 per cent growth in group sales. Despite its products being a common sight among the masses,
Gap Gains With Zara Responding to Fast-Fashion Fatigue (BusinessWeek) “Call it fast-fashion fatigue. Millennials, after years of settling for apparel retailers’ downgraded fabrics and workmanship, are pushing for higher- quality clothing again, and chains are getting the message. Gap Inc., the biggest U.S. specialty-apparel retailer, and Fast Retailing Co. Uniqlo are able to charge more for better basics.” Hermès lifts