The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Italian megabrand will host a physical event in the West Coast city November 3, shortly before the Gucci-sponsored 10th LACMA Art+Film Gala taking place November 6. The show, hailed as part of Gucci’s ongoing centenary year celebrations, marks a return to the US six years after creative director Alessandro Michele presented his first Cruise collection in New York.
This will be Gucci’s third show under the brand’s new, seasonless approach to presentations; in May 2020, Michele denounced “the worn-out ritual of seasonalities” in favour of twice-yearly collections presented outside the traditional fashion calendar.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.