Investments that arrive, others that are rejected, chairs that change, prices that rise and possible dismissals that are denied. The upheavals in luxury, where brands and companies react to the moment with strategic (or hopeful) moves.
Upheavals in luxury
There are investments that have been successful. The P180 fund acquired a minority stake in the Altuzarra brand. The former CEO of Neiman Marcus’ online division Brendan Hoffman and Christine Hunsicker, founder of the luxury clothing rental platform CaaStle, set up the fund last May (source: MF Fashion). German shoe retailer Deichmann, which won the rights to the Esprit brand in Europe and the United States, also scored (source: shoez.biz).
There is also one investment that did not hit the mark. It is the GBP 111 million one put into the pot by Frasers Group to take Mulberry. After the “no” from the majority shareholder Challice comes the rejection of the British brand’s board as well, as the Retail Gazette reports. Also seeking investment is Simon Porte Jacquemus, the designer owner of the brand Jacquemus, who, according to Miss Tweed, has instructed Rothschild to look for a minority investor. Insiders point to the risk that the brand could lose its independence.
Is Chanel also suffering because of China?
A rumour circulated on local social networks that Chanel China has made redundancies and stopped possible hirings. The head of Chanel China denied it, revealing to various national media such as the Guangzhou Daily that so far they have received no such indications from the parent company. And they said that the brand is in a stable situation. The Chinese website Ladymax also reports rumours that Moncler will raise global prices in November. Some shops have reportedly received the notice.
Armchair waltz
The chair waltz does not stop. The former general manager of Philipp Plein, Dsquared2 and Roberto Cavalli, Ennio Fontana, is the new CEO of Bally. Rumours that he was Nicolas Girotto’s successor have been confirmed (source: Fahion Network). The brand Courrèges, meanwhile, has entrusted Marie Leblanc with the role of CEO (formerly: Adrien Da Maia). Until a few days before the appointment, Leblanc was CEO of the British brand Victoria Beckham. According to Artémi’s (owner of the brand) press release, reported by Fashion Network, the manager will form the new duo at the helm of the brand with Nicola di Felice from 4 November.
Pictured (Shutterstock) a Chanel store in China
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