Louis Vuitton's Young Arts Project, REcreative | Source: REcreative

Calling all aspiring artists: Louis Vuitton launches just the site for you (Telegraph)
“REcreative, www.recreativeuk.com, has been devised and developed over the past year… Aspiring artists can upload their work and share it with the online community in the ‘Projects’ section of the site, where leading artists and critics will select their favourite works to highlight.”

Labelux boosts fashion M&A (M&A)
“Mergers and acquisitions activity in the fashion sector maintained its surge with the purchase of English outerwear company Belstaff by Swiss luxury goods business Labelux. The undisclosed deal follows on from the recent retail acquisition surge, with the purhcases of Kurt Geiger, Moncler and Labelux’s own purchase of Jimmy Choo.”

Ferragamo gets go-ahead for Milan IPO (Reuters)
“Salvatore Ferragamo said on Thursday it had received clearance from market regulator Consob for what could be the first initial public offering in Milan this year. The Tuscan family-run maker of fine leather shoes, valued by analysts at around 1.5 billion euros.”

J. Crew reports 1Q loss on clearance pricing (MSNBC)
“Preppy clothing seller J. Crew Group Inc. said Thursday it swung to a loss in the first quarter as it marked down clothes to clear out excess inventory and took charges related to being acquired. The company, which went private in March… said net loss totaled $29.9 million.”

British fashion world pays tribute to the Telegraph’s Hilary Alexander (Telegraph)
“Last night at London’s St. Pancras Renaissance Hotel, the great and the good – and the drop dead fabulous – of the British Fashion industry gathered to pay tribute to the Daily Telegraph fashion director, Hilary Alexander’s remarkable career.”

Savigny Luxury Index May 2011 | Source: Savigny Partners

LONDON, United Kingdom — As luxury stock valuations continue to roar ahead, even as the overall market has stalled, and luxury brands go to private and public investors to finance further expansion, we take our monthly check of the Market Pulse to understand the key drivers.

Big news

• The Savigny Luxury Index continues its upward trend led by the bullish outlook for the sector in terms of both organic growth and acquisitions

• Continued good news flow with Hermès announcing outstanding Q1 results despite its exposure to Japan, which remains its largest market (representing almost a fifth of its revenues).  Burberry also posted stellar full year (end March 2011) results but signaled further investment in order to capitalise on the brand’s momentum

• There has been a flurry of M&A activity during the last month despite high valuations.  Puig acquired the fashion house Jean-Paul Gaultier from Hermès.  Labelux went on a shopping spree bagging Jimmy Choo from TowerBrook and Belstaff from the Malenotti family.  Department store group Coin was acquired by BC Partners.  French leather goods brand Le Tanneur was acquired by Qatar Luxury Group, owned by the Emir of Qatar’s spouse.  Chinese conglomerate Fosun bought a minority stake in the Greek jewellery brand Folli-Follie

… Continue Reading

Carine Roitfeld by Terry Richardson | Source: Terry Richardson

Lunch with the FT: Carine Roitfeld (FT)
“Roitfeld, 55, has built a career on being cool. She made her mark as a stylist in the 1990s, when she and the photographer Mario Testino created risqué campaigns for Gucci… [As the editor of French Vogue] she became one of the most powerful women in the fashion industry, famous for edgy, sometimes controversial and frequently erotic photo shoots.”

Jimmy Choo sold to Labelux for £500m (Guardian)
“Its killer heels are de rigueur for Hollywood actresses on the red carpet – and this weekend luxury shoe brand Jimmy Choo was sold for an A-list price tag of £500m…. Labelux’s other investments include Swiss luxury brand Bally and the Derek Lam fashion label. Its chief executive Reinhard Mieck said it saw “substantial potential” for the brand, particularly in Asia.”

Inditex breaks new ground for seasons in the south (FT)
“Inditex… has become the first global retailer to sell fashion lines designed especially for the seasons of the southern hemisphere… for clothes retailers based in the northern hemisphere, the seasons of the south have traditionally presented a barrier to full globalisation because of the complexity of producing specially-tailored winter lines at the same time as summer wear.”

China’s luxury consumers get their information online (Relax News)
“70 percent of the country’s consumers of luxury brands search the internet each month before making their purchases. What’s more, 30 percent claimed they searched online for information on luxury items each week. But, surprisingly, just five percent of those polled said they were actually interested in making a purchase over the internet.”

Jeans for deep pockets (FT)
“Major fashion labels such as Chanel, Ralph Lauren, Balmain and Roberto Cavalli have created luxury jeans, some costing well over £1,000… ‘The market for designer denim continues to grow and has no limits. For so many of the fashion collections, their most sought-after pieces are in the fabric.’”

Lily Donaldson's Flying Hair by Matthew Donaldson | Source: Nowness

Marketing to the Millennials (IHT)
“Finding a way to reach a generation that is eager to be entertained and informed, yet resistant to the familiar, in-your-face 20th-century approach, is the focus of every smart luxury and fashion brand.”

Reimann Family Seeks More Luxury Acquisitions (Bloomberg)
“Labelux Group, the luxury company founded by Germany’s billionaire Reimann family, may make another acquisition this year to add to a portfolio of brands that includes shoemaker Bally International.”

Small Fashion House Sets Pattern in Milan (WSJ)
“There are advantages to designers mixing their media. Putting fur arms on a leather motorcycle jacket, as Frida Giannini did at Gucci this week, reduces the cost of the garment compared with a full-fur jacket, as well as its ultimate price to consumers.”

Luxury goods help lift European bourses (FT)
“Richemont extended Monday’s gains after media forecasts that the Swiss luxury goods company could see its shares jump 50 per cent or more in the next year as a result of a rebound in the sector.”

Hilfiger For Sale? (Vogue.com)
“Tommy Hilfiger may be up for sale today, as the private equity firm which owns it, Apax Partners, has reportedly begun gauging interest in the company.”