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.
Ponzo will succeed Anthony Ledru, who was appointed chief executive of Tiffany following its acquisition by LVMH in October 2020, as executive vice president of the luxury label’s commercial activities. Ponzo’s appointment, effective January 7, will make him responsible for Louis Vuitton’s network of 460 physical stores and e-commerce as well as store planning and client relations. Ponzo first joined Louis Vuitton in 2016 as head of the company’s Japan operations after a stint at Swatch Group. Nicolas Villeger will take over as zone president of Japan.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.
Fashion’s presence at Milan Design Week grew even bigger this year. Savvy activations by brands including Hermès, Gucci, Bottega Veneta, Loewe and Prada showed how Salone has become a ‘critical petri dish for dalliances between design and fashion,’ Dan Thawley reports.
The Hood By Air co-founder’s ready-to-wear capsule for the Paris-based perfume and fashion house will be timed to coincide with the Met Gala in New York.
Revenues fell on a reported basis, confirming sector-wide fears that luxury demand would continue to slow.