The Savigny Luxury Index has gained good ground in September and is up by 3.7 percent, outperforming the MSCI World Index by over one percentage point, as Asian tourist flows to Western fashion hubs remain strong and the world’s largest luxury conglomerates snap up young designers, reports Pierre Mallevays of Savigny Partners.
Following many months of speculation, Marc Jacobs is exiting his position as the creative director of Louis Vuitton to prepare for the IPO of the Marc Jacobs label, LVMH and Jacobs have confirmed.
PARIS, France — Two years ago, Bernard Arnault asked his son Antoine to run shoemaker Berluti, then this month he installed his daughter, Delphine, as executive vice president of Louis Vuitton. While her brief is to revive the handbag maker and Antoine’s task is to transform Berluti into a menswear titan, Arnault is auditioning both for another job: his own.
LVMH has taken a minority stake in J.W. Anderson and hired Jonathan Anderson, the label’s designer, to take the creative helm at Loewe.
PARIS, France — At 11 p.m., long after most Paris shops have closed for the evening, Sephora on the Champs-Elysées is still bustling with customers browsing for cosmetics and perfume. That puts the shop in violation of France’s labor laws.