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.
A luxury concept store in Paris’s posh 8th arrondissement is shutting down after 17 years in business, its founder Liliane Jossua said in a post on Instagram Tuesday.
Montaigne Market, which had relocated from Avenue Montaigne (the shopping destination known as the birthplace of Christian Dior) to nearby Avenue Matignon last year, was known for its girly edit of luxury items mixing unabashed jet-set glamour and more laid-back, bohemian-chic looks.
The shop sold Paris luxury stalwarts like Saint Laurent and Balmain, as well as being an early champion of contemporary Paris houses like Isabel Marant and Alexandre Vauthier.
Even before the pandemic, the 8th arrondissement’s shopping district anchored by top-end hotels like the Plaza Athénée and Bristol, had been struggling to bounce back from Yellow Vest protests which saw stores ransacked and their windows regularly barricaded during 2018 and 2019.
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.