Two designers and a CEO are leaving their chairs. Meanwhile, a rumour is timidly denied. Phillip Lim, Helmut Lang, Jil Sander and Chanel are the brands involved in the ever-active fashion round fo chairs. So is Kering. Let us see in detail what has happened in the last few days. The round of chairs doesn’t...
It’s the time of the Middle East, which is a growing market, unlike China and the US, mature but slowing down. At least that’s the opinion of Patrick Chalhoub, chairman of the eponymous group, who in an interview with Corriere della Sera charted the way forward for luxury brands. A market, the Middle East which,...
“The price increase? It is the ultimate failure of our work”. The CEO of the Prada group, Andrea Guerra, is very harsh and self-critical about what he called “a giant mistake”. During the Altagamma Observatory (Tuesday, 13 November, Milan), the CEO suggested his alternative solutions. Total failure For Guerra (pictured: Imagoeconomica) it is a failure...
Taking Soeur to EUR 100 million in turnover, up from 51 in 2023, by exploiting leather bags and shoes. This is Style Capital‘s plan for the brand founded in 2007 by sisters Domitille and Angélique Brion, 80% of which it took over in 2023. Taking Soeur to EUR 100 mln The turnover has already risen […]
Parallel market and outlet stores to empty luxury warehouses. The former has evolved markedly from a few years ago, aided by the rise of e-commerce. Sales in the latter are doing quite well, confirming the theory that the luxury slowdown is primarily a price problem. And if it has to be, these solutions must be […]
Prada wants to remain independent, and Patrizio Bertelli and Miuccia Prada are already planning for a succession. This may be the last Italian hope to have a large luxury group with which to counter the French giants. Succession plans The Bertelli-Prada couple (78 and 76, pictured Imagoeconomica) is facing the succession step. As early as...
Not all are in crisis. Ralph Lauren, Tapestry, Wolverine, Steve Madden, and Golden Goose are on a roll. Richemont is holding up, while Capri Holdings is in trouble. Here’s what the latest published financial statements tell us. Budgets and budgets, starting with Richemont Investors were disappointed by the lower-than-expected operating profits posted across all of...
In the first 9 months of 2024, in absolute contrast, Miu Miu doubles and the Prada Group establishes itself as a champion of growth. “We are pleased to see that our strategy continues to generate results above the market average, both for Prada and Miu Miu”, is the comment of Patrizio Bertelli, president of the […]
“I am not selling and in 2-3 years I will retire”. In a long interview with Corriere della Sera, Giorgio Armani talks about the future, the market and the relationships with his colleagues. In particular, he recalls the proposal he received from the boss of LVMH, Bernard Arnault, and which King Giorgio returned to sender...
The big challenge for luxury and its supply chain lies in how to attract aspirational consumers. Comparative analysts consider it unlikely that luxury companies’ financial performance will improve in the second half of 2024. A thought that, as early as today, with the late afternoon release of LVMH’s third quarter results, may or may not...
The Prada group is working on a “solid transition plan for key raw materials”, including leather, to “lower impact alternatives”. Ah. Lorenzo Bertelli, Patrizio and Miuccia’s dauphin and CEO in pectore of the fashion group, tells MFF about the green strategies to which, as “head of corporate social responsibility”, he is devoting himself to. Precisely […]
The right choices. The right products. An unquestionable craftsmanship approach, used as a marketing tool in the right way. An innovative vision of style and product. A style that the founder, Enrique Loewe, explained in a way that was almost alienating in its simplicity. “We didn’t know we were doing luxury. Our aspiration was to...
The 50th edition of Paris Fashion Week (on the calendar from 23 September) closed its doors on Tuesday, 1 October, with Chanel and Miu Miu’s fashion shows. The French brand, still without a creative director, presented an archive collection inspired by the codes conceived by its founder. Miu Miu, on the other hand, took to...
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. […]
The vintage look never goes out of fashion; on the contrary, it comes back. It seems a truism, but it is not. The cyclical nature of fashion is an established phenomenon, but the return to retro, to materials and workmanship that simulate the use and signs of time, is a real trend. And this becomes...
China is suffocating the luxury segment, with stocks seeing no light at the end of the tunnel. On Thursday, September 5, shares of some of the major European luxury goods players fell sharply. For example, Hermès, which lost 6%. The day before, Morgan Stanley revised (down) its forecast for LVMH stock, which lost more than...
It’s no longer in the confines of wealthy ladies shopping the streets of Cortina. After a decade, ostrich leather is coming back, and this time, without the “grandmotherly” allure of wealthy circles. Because in the wake of animal rights protests, the precious material had disappeared from the radar or, rather, brands had scaled back its...
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 […]
Approaching new markets and benefiting the reshoring from China. Calzados Bonadona is a shoe manufacturer based in Cehegìn, in the Murcia region of Spain. Founded in 1994, it is led by Bernardo Martinez Garcia and Mariano Tudela Alvarez. Bonadona specialises in the production of espadrilles, which is concentrated in October and November. Shipments take place...
We are used to big brands exerting their appeal on the staff of smaller brands. But, sometimes, the clash also shifts to the floor of maisons with billionaire turnovers. Two cases in the space of a few hours. Benedetta Petruzzo, hitherto CEO of Miu Miu, leaves the Prada group and moves to Dior. In the...
