Mulberry in crisis cuts jobs and prices because it “asked too much of customers. The first half of the year results show a clear need to reprioritise and rebuild the business”, says CEO, Andrea Baldo. Hence two decisions. The first, painful: to lay off 85 of the 350 employees. The second, inevitable: to lower the […]
Burberry reverses strategy. First: it will focus on trench coats and not leather goods. Second: it will change its price list, as it admits to having exaggerated. All this while, rumours are circulating about a possible sale and the possible exit of creative director Daniel Lee. Burberry goes -22% The new strategy is called Burberry...
First they put it beside Moncler, which, with the strength of its partnership with LVMH, would have the resources to acquire a part of the British brand’s capital. Now a merger hypothesis pops up with Tapestry, which could take advantage of the favorable conjuncture for a bargain at a bargain price. In short, there is...
Is Moncler targeting Burberry? It would seem so, with the aim of establishing an outdoor hub. Although Remo Ruffini has repeatedly reiterated that he has no acquisition plans and wants to focus on his brands, Moncler and Stone Island. Meanwhile, one situation shifts from being a possibility to becoming a certainty. It concerns Jacquemus, which...
De Sarno is liked, his collections are selling. After the upper echelons of Kering spoke of a “warm welcome” for the work of the designer from Campania, now retailers too confirm that Gucci’s new aesthetic is meeting with customer approval. Encouraging as it may be, analysts say the signs of public approval will not prevent...
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...
And now rumours about Jonathan Anderson too, who should leave Loewe to go to Dior. And then on Maria Grazia Chiuri, writes Miss Tweed, who would leave the LVMH brand to go to Chanel (or even Gucci, who knows). The pinwheel of chairs and appointments, between indiscretions and confirmations, never stops. And in the meantime,...
Luxury lacks new products. By now it is a chorus: luxury is facing a crisis also because, in the face of rising prices, it does not have an adequate offer. Fashion designer Riccardo Tisci said it a few days ago. It was reiterated by Marco Bizzarri at the fourth edition of Mediobanca’s Luxury Goods Conference....
Inditex and Burberry are the zenith and nadir of fashion on the stock market. The stock of the Galician fast fashion giant has gained 26% from the beginning of the year to date. That of the British luxury brand has lost 57%. In recent months, fast fashion has reversed the trend of recent years and...
It’s time for new creative directors. After Tom Ford which chose Haider Ackermann, and Uniqlo which hired Clare Waight Keller, Givenchy has chosen Sarah Burton (pictured) as its new creative director. Among other things, confirming rumours that had been circulating for some time. Among many new arrivals there is also a farewell. It is that...
“Now it’s a mess. Everything looks the same”. The words of Riccardo Tisci (pictured, from Instagram) confirm a certain homologation of luxury. Brands do it all. From clothes to accessories, from perfumes to jewellery. But in doing so, they have weakened their own identity, ending up resembling each other. A winning strategy when consumer demand […]
Getting rid of unsold stock is a problem that also involves luxury. Not only fast fashion. Designer goods have been found in Halto Ospicio, Chile. And, together with other fashion goods, they colour the Atacama desert. From H&M, Old Navy, Zara, Guess, Adidas, Gap and Shein labels to Calvin Klein, to Gucci, Chanel and Dior....
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...
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....
Pattern Group announced an investment of 12 million euro to build its new headquarters in Turin. The move to the new site (Collegno location) is scheduled for 2025. Pattern group is present in 7 Italian regions with 13 plants, and the entity ended 2023 with a revenue of 145.6 million euro and operating profit of […]
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,...
According to the Bloomberg Billionaires Index, the assets of a panel of about six luxury entrepreneurs fell by 5% this year, with a total loss of about $24 billion. The loss is concentrated in the high-end industry, because the remainder of the individuals considered in the list of the 500 richest people on the planet […]
For some brands, discounts and promotions are becoming a factor in the luxury goods trade in China. Especially online, as the various e-tailers try to counteract the drop in proceeds by reducing prices. Burberry, Versace, Marc Jacobs, Bottega Veneta and Jil Sander are among the brands using the leverage of discounts and promotions to move...
And so it’s here: an in-crisis Burberry changes CEO. The British luxury brand has appointed Joshua Schulman as its new CEO. He will take over, effective immediately, from Jonathan Akeroyd, who is leaving the company with a mutual agreement with the board. Burberry also reported retail sales for its first quarter 2024 (April-June): £458 million, […]
Mulberry and Dr Martens are having a bad moment. In a surprise move, the British fashion house has changed its CEO, after nine years, replacing Thierry Andretta. In his place comes Italian Andrea Baldo, former CEO of Ganni. The change appears to be a consequence of the brand’s declining sales. Dr Martens, on the other...
