Every man for himself. Tapestry and Capri Holdings threw in the towel and officially decided to mutually terminate their merger agreement. The process, which had to be completed with US regulatory approvals and, thus, the conclusion of the lawsuit against the FTC (Federal Trade Commission), was unlikely to be completed by the time the merger...
Gucci is (still) grappling with (re)building its management team. Kering‘s flagship brand has made further new additions to strengthen the team that will be tasked with relaunching it in the coming months. But it is not the only brand that has decided to unleash real reversals of top roles. Namely, Gucci has been joined in...
“Art and culture are tools that can produce innovation in a new, more human and less formal way”. In other words, they are instruments for development. From this sentence we start to tell you about the event built around it. We are talking about the fifth edition of the Economy of Beauty, the business culture...
Versace would be for sale, a collateral victim of the merger between Capri Holdings and Tapestry. On the subject of M&As, Giovanna Ferragamo, Salvatore’s second daughter, dismisses the hypothesis of the brand founded by her father Salvatore changing hands: she believes in independence and in the generational transition thanks to the rule of “three”. Versace […]
“Patience is needed”. Citi analyst Thomas Chauvet’s comment perfectly captures the situation of Salvatore Ferragamo. The brand, in a difficult context, continues to rack up negative numbers. The road back to growth will be longer than expected. CEO Marco Gobbetti, who defends creative director Maximilan Davis, is also aware of this. Ferragamo remains in negative […]
Stylists increasingly resemble CEOs. But according to manager Michele Norsa (ex-Ferragamo, ex-Valentino, now a member of Zegna’s board of directors) the waltz of creative chairs does not influence luxury trends. “Only in Europe we have real widespread attention for designers”. According to Norsa, in the U.S. and Asia the brand is what counts: few customers...
After Tesla, the strength of leather also convinced Telfar. The brand, which has also built its success with bags made of next-gen material (its tote has been dubbed the “Bushwick Birkin”), is launching its first leather bag. The aim is clear: to elevate its positioning and wink at luxury consumers with decidedly more affordable prices. […]
Bottega Veneta, Ferragamo, Bally: at Milan Fashion Week, brands are in a quiet version and above all, they focus on product: lots of product, no fussing. This is the leitmotif of the collections that crowded Milan’s fashion kermesse, which left the baton to Paris (scheduled from 23 September to 1 October). The last to show...
The fact that the luxury segment is going through a rough patch has been clear for a few months. That luxury customers had changed their mindsets, too. Now, however, in the onset of an unsettled autumn, fashion brands are wondering whether not only spending capacity, but also consumer tastes (and expectations) are shifting. Indeed, at...
Okay, saying Volkswagen may go bankrupt is an exaggeration. But it’s certain that the German auto group faces one of the deepest crises in its history: for the first time, it’s considering closing plants in Germany. And while the group’s stability is in question, what is management in Wolfsburg worried about? Presenting a fabric developed […]
Consumption slows, fashion slows. For Salvatore Ferragamo, Aeffe Group, and Geox, the first half of 2024 provided negative signs. Hugo Boss and Manolo Blahnik, however, also experienced a gradual slowdown in sales. Salvatore Ferragamo In Salvatore Ferragamo’s (photo from ferragamo.com) first-half 2024 financial results, an operating profit of 28 million euro jumps out. In other...
Managerial circularity also exists. For example, that of Furla, which, for the third time, appointed Eraldo Poletto (pictured Imagoeconomica) to the role of CEO. Poletto, after eight months at Diesel and just over a year at Santoni, returns to lead the Bologna-based leather goods brand, having done so from 2010 to 2012 and 2013 to...
The revenge of “little guys.” Giants like LVMH and Kering seem to be suffering more from the luxury slowdown than some smaller (let it be said…) and independent brands like Hermès, Moncler, Zegna and Cucinelli. The bias does not seem to be rewarding the conglomerates, which analysts and insiders have always described as more resilient....
Despite the crisis, luxury still grows on the stock market, where it performs better than companies in other commodity sectors, at least for now. Thanks to Hermès, its leather handbags and its prices. In 2024, luxury stock prices rose 8% year-on-year. The most interesting ones? Hermès (precisely), LVMH, Brunello Cucinelli, Ermenegildo Zegna, Moncler, Prada, Richemont,...
It took Prada and Ferragamo to explain a simple concept to the general public: leather is green and circular because it consists in upcycling a food industry waste. During the fifth edition of RCS Academy business school’s Fashion & Luxury Talk (July 11), first Lorenzo Bertelli, head of sustainability at Prada Group, then Davide Triacca, […]
Reversing the trend for Ferragamo is proving challenging: Revenue is expected to drop more than 10% in the first half of the year. Nevertheless, the family believes in the brand and has, therefore, rejected the offers of suitors. According to President Leonardo Ferragamo, the path being followed is the right one: it just has to...
Is this the beginning of the end of the slowdown or a flash fire? In the U.S., luxury spending fared “less bad” – improving significantly – in June. Leather goods showed great shape. Or at least says Citi’s Card Insights report, which monitors the spending patterns of more than 10 million U.S. cardholders. Not as...
Results will be presented in August, but UBS discussed its forecasts and estimates for Ferragamo, reporting an expected -6% for 293 million euros in total sales. In short, Ferragamo will not recover in the April-June 2024 quarter, and the markets are adjusting accordingly: after UBS’s recommendation to sell, the brand’s stock lost 12.66% on the […]
Luxury polarizes analysts. The trend was strongly reaffirmed in the first quarter 2024 results of listed companies. From Moncler’s +20% to Salvatore Ferragamo’s -17%. A trend likely to continue. For BofA – Bank of America, the overall result of the first three months of this year for the luxury segment was not so bad. Bernstein,...
Luxury is slowing, but not for everyone. The Chinese market is choosing which brands to reward, thus fueling the polarization forecasted by analysts. One of them, Flavio Cereda, manager of GAM, has been outspoken in saying which stocks will have a bright future. Specifically, there are 3: Cucinelli, Prada and Ralph Lauren. Here’s why. You...
