Large cities in lockdown, industrial production slowed, GDP projection for 2022 lowered by the IMF from 4.8% to 4.4%. It’s now fair to talk about China’s crisis. The situation for the People’s Republic is alarming for luxury operators, as they see the Asian giant as the reference market in the area. Some groups and brands...
Non-sport shoes are alive and well. In fact, the numbers of second-hand transactions are living a very positive moment. Note: it’s not like sneakers are trending off (just the opposite), but consumers probably prefer changing type of shoes instead of buying a second pair of sneakers. The return to offices and events represent, in this...
Barclays warns: the pandemic’s trend in China doesn’t promise anything good. That’s thy the former advises luxury players to invest in the United States. Because after the lockdown in Shanghai, Beijing too risks of ending up the same way, even if positive cases decrease. The capital’s restrictions will allegedly have an additional negative impact on...
There is a certain Made in Italy manufacturing sector that cannot do without aggregations in the coming years. Micaela Le Divelec Lemmi, former CEO of Salvatore Ferragamo and now a business consultant, is convinced of this, and makes a distinction. One thing is the options available to a large brand, which may have the ability […]
Paul Andrew rejects material derived from mushrooms. He tested it for his new line of shoes, he says. But during the assembly phase of the shoe, it tore. “If you put a product out there that is not durable and disintegrates, you have to throw it away, so it’s not sustainable,” explains the former creative...
A chain reaction, that is still to be understood. A stimulus to the acquisition trend that, inevitably and as per usual, will favor the “big fish”. The context that, even with everything that is happening, remains positive, according to Barclay’s analysts. The high-end segment must absorb the impact of the war on Ukraine. Moreover: that...
Emmanuel Gintzburger is Versace’s new CEO. He arrives from Alexander McQueen, where he will be substituted by Gianfilippo Testa, ex-Gucci. Gintzburger will be replacing Jonathan Akeroyd, who moved to Burberry to substitute Marco Gobbetti, now in Ferragamo. Gintzburger is Versace’s new CEO The first day for Emmanuel Gintzburger (top-left) in its new role as CEO of […]
Maximilian Davis, 26 years old, is Salvatore Ferragamo’s new creative director. The British designer launched its brand in 2020, obtaining success since the very start all around the world. His career includes collaborations with Grace Wales Bonner, Mowalola, Asai and Supriya Lele. Davis will formally take on the role starting March 16th. Maximilian Davis Salvatore […]
Not just the sales lost in Russia, but also the concern that the crisis will deepen, thus further slowing the purchase of luxury goods in Europe and, most importantly, in the USA. A market, the latter, that in the few weeks before the conflict between Ukraine and Russia broke out, was going fast. A concerning...
About 1.5 billion euro: that’s how much the exports of Italy’s fashion system to Russia are. A small portion of the total 83 billion euro of foreign revenue made by Italy in 2021 (data not final). In the first 11 months of the year though, exports towards Russia had increased by 24%, which raised expectations...
While Lineapelle’s 2nd day was going on in Milan, Italy’s Prime Minister Mario Draghi’s endorsement towards the tanning district of Santa Croce sull’Arno and Scandicci’s artisanal know-how arrived. While in Florence to meet with bishops and mayors of the surrounding area, Draghi also visited the manufacturing sites and historic archive of Salvatore Ferragamo. The PM concluded […]
It is not surprising that analysts are confident about Kering. The French group has the wind in its sails and, in this sense, the latest balance sheet confirms the recovery of Gucci (which had recently shown some signs of slowing down). More interesting, then, is the positive outlook that financial specialists are dedicating to Tod’s....
The shoes division (especially for the Versace brand) is the main character of a solid 3rd (fiscal) quarter for Capri Holdings. The group closed the quarter on December 25th and recorded revenue up by 24% (1.6 billion USD). This results were better than forecasts for all 3 brands: Versace, Jimmy Choo, and Michael Kors. Great […]
Supply problems from Asia are holding back VF Corp and Dr. Martens. The first group is suffering from problems in China that sound like a warning to the entire fashion world. This latter is struggling with closures in Vietnam. The Chinese issue As for the problems holding back VF Corp and Dr. Martens, let’s start […]
Ferragamo and Aeffe’s 2021 is good. Yet, both groups haven’t managed to reach the performances of 2019, last pre-pandemic year. Footwear and leather goods had a positive year for Ferragamo, and a great one for Aeffe (which suffered from the lower growth of the apparel division). Both groups hope that the reorganizations (completed and to […]
Chiara Ferragni opened to PE funds to grow Fenice, the brand that manages Chiara Ferragni Collections. She is looking for a PE fund able to support her growth plans, as the influencer and entrepreneur told L’Economia of Il Corriere della Sera, that she entrusted the job of finding the right partner to BNP. As we...
Is Chanel planning an IPO? Analysts are beginning to wonder. After the appointment of the new CEO, Leena Nair. And also in light of the moves that began in 2018. When the brand released its balance sheet figures for the first time in its history, and started to move its legal and financial headquarters from...
Chanel and Ferragamo are continuing their major organisational restructuring manoeuvres. The French fashion house is revolutionising its governance and financial structure. As demonstrated, for example, by the transfer of its registered office to London. But now it is taking a further leap forward and, all of a sudden, surprising everyone, it is appointing a new...
Many want to buy, but few want to sell. The increment registered throughout the last few months by many European companies that are potential prey for large groups, pushes the possibilities of new operations further away. While Kering is currently proceeding on its path after LVMH’s acquisition, other groups have openly stated they plant to […]
What are the reasons behind the unexpected divorce between Bottega Veneta and Daniel Lee? Who will be his successor? What will the future of the British designer be? These are the three million-dollar questions that press and industry insiders are trying to answer. Remaining, for now, in the territory of hypotheses. 3 one-million dollar questions ...
