LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 2.7 percent in February, underperforming the MSCI World Index (“MSCI”) by over one percentage point. The SLI lost ground at the beginning of the month following the questions raised on sector growth by LVMH’s annual results announcement. Big news • Most analysts felt that LVMH’s organic growth numbers for 2012 were a bit lower than expected. This, combined with Mr.
Today, Tod’s announced the appointment of Alessandra Facchinetti as creative director of its women’s collections. In a statement, the company's president, Diego Della Valle, cited the designer’s “passion for detail and dedication to the research of materials and manufacturing” as the reasons behind the move.
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
Coach handbag sales take hit, stock slumps (Reuters) “Coach Inc on Wednesday reported weak holiday-quarter results and unveiled a new strategy for shoes and clothing, spooking investors with the notion that the days of strong demand for its premium leather handbags may be numbered.” And Precisely So (NY Times) “The designers are learning to use the extraordinary skills of a couture atelier to be more self-critical
Frida Giannini: Gucci’s Shanghai express (Telegraph) “Gucci’s first two shops on the Chinese mainland opened in Beijing and Shanghai in 1997, three years after Tom Ford started to transform the brand. Today there are 53 stores across 33 cities, and counting. So it is not surprising that Giannini has decided to spend some time getting to know Shanghai before continuing on to Seoul in South Korea for a store opening
Hedi Slimane’s Saint Laurent debut (Telegraph) “What was most suprising was that it was so unsurprising. It was exactly as expected: lots of masculine/feminine trouser suits, some beautiful wafty dresses and poet’s blouses (most of which we’ve seen before on Kate Moss and Stevie Nicks, although perhaps not always in quite such luxe fabrications) and a cool soundtrack, edited for the show by Daft Punk.
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
How a cosmetics company built brand equity by taking on the fashion world’s biggest killer (Financial Post) “Last year, Canadian-founded MAC Cosmetics raised $38-million through its MAC AIDS Fund to help combat the spread of AIDS. The success of the 18-year-old campaign predates the cause-marketing boom that has stormed the corporate world and yet continues to attract celebrity spokespeople.” IPO Costs Dampen Profits at
Fashion’s Most Angry Fella (Vanity Fair) “When John Fairchild, the tyrannical, mischievous editor in chief of Women’s Wear Daily and founder of W magazine, stepped down from his Fairchild Publications throne, in 1997, it was supposed to be a clean break. Fifteen years later, at the age of 85, the onetime terror of the fashion industry is still stirring the pot.” Toronto Fashion Week sold to IMG, Robin Kay steps down
Europe’s Luxury Rally Founders as China, Greece Hurt LVMH (Bloomberg) “The biggest rally in three years for luxury-goods makers in Europe is fizzling on concern slower economic growth in China and renewed euro-area political turmoil after Greece’s inconclusive election will choke off demand.” China’s YGM takes Aquascutum off the shelf (Reuters) “YGM Trading Ltd has agreed to buy Aquascutum, the failed luxury
Sonia Rykiel in talks with investor Fung Brands (Reuters) “Sonia Rykiel, one of the last family-controlled French fashion houses, is in exclusive talks with privately held Fung Brands which could lead to the investment firm taking an 80 percent stake in the company to help it expand internationally.” China’s Hidden Wealth Feeds an Income Gap (NY Times) “Wealthy Chinese are snapping up gold, Rolls-Royces and
LONDON, United Kingdom — It was a fashion season of extreme weather. After the New York Fashion Week schedule was upended, first by an earthquake and then by the State of Emergency declaration that came courtesy of Hurricane Irene, an unprecedented heat wave in Paris threw buyers, editors and bloggers into a wardrobe tailspin. The American editors were worst off, having packed for the European shows two weeks before Paris with no
LONDON, United Kingdom — Hurricane Irene wasn’t the only storm wreaking havoc during the month of August. The financial markets were also stormy. Ongoing economic uncertainty on both sides of the Atlantic had investors in a panic, and luxury stocks were were hit hard, though they bounced back towards the end of the month. Big news • August, which is a typically quiet month, has seen some high trading volumes driving