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.
On Friday, the luxury goods group named the nine shortlisted brands that will compete for this year’s LVMH and Karl Lagerfeld Prizes.
Finalists include: Aaron Ash; Julie Pelipas’ Bettter; Burc Akyol; Diotima by Rachel Scott; Raul Lopez’s Luar; Magliano by Luca Magliano; Paolina Russo; Veronica Leoni’s Quira; and Setchu by Satoshi Kuwata.
This year’s winners will be selected on June 7 by a jury of some of LVMH’s top designers and executives. The LVMH Prize recipient will be awarded €300,000, while the Karl Lagerfeld prize winner will receive €150,000; both will also receive year-long mentorship from LVMH executives.
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Britain’s S.S. Daley Wins the LVMH Prize
ERL and Winnie New York were runners-up. Steven Stokey-Daley will be awarded €300,000 and a year of mentorship from executives of luxury’s biggest conglomerate.
Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholder’s documentation guaranteeing BoF’s complete editorial independence.
The designer has always been an arch perfectionist, a quality that has been central to his success but which clashes with the demands on creative directors today, writes Imran Amed.
This week, Prada and Miu Miu reported strong sales as LVMH slowed and Kering retreated sharply. In fashion’s so-called “quiet luxury” moment, consumers may care less about whether products have logos and more about what those logos stand for.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
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.