Crazy prices: in the US they close their wallets, in China they turn to second-hand. Luxury costs too much, and the ever-increasing price tags have driven aspirational consumers away and caused the wealthy to rethink their spending, preferring travel, food and other experiences. Citi tells us that credit card payments in the US were down...
Along with Burberry, Gucci (and Kering), the relaunch of Salvatore Ferragamo will take longer than expected. The goals announced by its CEO, Marco Gobbetti (to double sales to 2.2 billion euros by 2027), are increasingly distant. Especially after the first quarter 2024 results. Whatever the case may be, the Ferragamo family has confirmed Gobbetti as […]
Power seats that teeter, that change and renew, while others remain firmly planted. In a spectrum of possibilities ranging from Slimane’s shaky one at Celine to Gobbetti’s firmly planted one as CEO of Ferragamo. A review of all the news. Teetering power seats The split between Celine and its creative director Hedi Slimane (pictured centre)...
What does the future hold for Balmain and Mayhoola? Why did Kering emit a 1.75 billion euro bond: is it planning on making an acquisition? Mayhoola and Kering joined forces: last year the sovran Qatar fund sold 30% of Valentino to the French group, which retains the possibility of scaling to 100% by 2028. Scenario...
Luxury is there. Closing on Monday (26 February) is a Milan Fashion Week in which the world of haute couture has asserted its position. The brands seemed to respond to the climate of expectation and scepticism about their future by showing off their best. Without any particular excesses, it is true, but not even closed...
L Catterton’s takeover bid on Tod’s is causing discussion. First of all, analysts and pundits are questioning whether the deal’s price (EUR 43) is the right one. At the same time, they speculate on the scenarios. On the one hand, should the takeover bid fail, they argue, the delisting of Tod’s is certain, and the...
The brands performing strongly will slow, but will continue to grow, while the ones looking to turn their luck around will be impacted by the period. That’s why Bank of America recommends a defensive position when it comes to the attractiveness of the luxury industry on a global scale. Demand, especially in the first half...
“Hermès has a demand 4 to 5 times its offering”. It knows that some luxury analysts claim the French brand is the most resilient luxury company when it comes to crisis”. But it’s not just a matter of the availability of offers, as there are other factors. It’s not by chance that other luxury brands […]
A social reorganization, for 42 million USD, to strengthen its presence in China. Salvatore Ferragamo group has decided to interrupt the distribution joint ventures it had in China with Imaginex and Imaginex Overseas, companies owned by entrepreneur Peter K.C. Woo. How? By buying, through the Hong Kong subsidiary, minority shared in Ferragamo Moda Shanghai (25%), […]
Moncler, Zegna and Piquadro smile. Regardless of the challenging context in which the luxury segment is operating, these three entities archived a positive quarter, at least from a data standpoint. Even so, stock prices of Moncler and Zegna lose ground. Moncler, Zegna and Piquadro smile Moncler and the unfavorable weather Moncler group closed the first...
With a sentence that could be called historic, a Chinese counterfeiter was convicted even without have seized counterfeit products. This is thanks to the alliance between Amazon and Prada Group (among other brands not making public claims). The luxury brands collaborated with Amazon’s Counterfeiting Crime Unit (CCU), supplying Chinese authorities with information and proof against...
Financial statements by Cucinelli and Ferragamo show opposite results. At constant rates, revenues for Cucinelli grew 28.8% during the first 9 months of the year (on yearly basis), while Ferragamo’s decreased by 9.2%. The stock prices for the two companies reflect the results. Marco Gobbetti, CEO of Ferragamo, wasn’t moved much by the results and...
Birkenstock’s IPO at Wall Street, after months of speculations and calculations, finally arrived. But the IPO operating with the “Birk” symbol didn’t go as planned: the stock price opened at 41 US dollars, down 11% from the price of 46 USD forecasted by the initial IPO, said Corriere della Sera. According to Bloomberg, it’s the...
They define it “a multi-stakeholder event”, and it was built for specific reasons. First: “Identifying the Key performance Indicators (KPIs) of circularity”. Then: “Highlighting the sharing good company practices tied to the topic”. Lastly: “Give value to the technical, managerial and scientific competencies towards more sustainable business models”. We are talking about the Monitor for...
Concerns for the luxury segment are concrete now. The results of the GDP growth for China’s economy are tangibly slowing: China’s GDP during the second half of 2023 recorded a low increment of +0.8%, compared to the first, and of “just” +6.3% on yearly bases, against the target +7%. Authorities have, in the last few […]
It’s interesting to read about the memories of Ferruccio Ferragamo. The manager (77 now, in photo Imagoeconomica), goes through the life of his father Salvatore, who started in Irpinia to become a shoemaker appreciated in two continents, and in the end create a multinational enterprise with his family. He also showcases the transformation of a […]
The interesting thing about Ferragamo’s latest investment is that it sees the brand entering a startup with a potential competitor. Through the company Sawa, Leonardo (in photo Imagoeconomica), president of the group and son of Salvatore, bought 1.95% of Popseekl, platform and social e-commerce based in Italy for Gen Z, which was launched in 2022. Similar...
After shoes and bags, the next step could be clothing. These are days of new beginnings for the owner of Leo Shoes, Antonio Filograna Sergio. There has been the start-up of leather goods production at the former Manifattura Tabacchi (tobacco factory, ed.) in Alessano. There was also the 100th commemoration anniversary of the birth of...
Gucci is the Italian brand with the highest value for the 5th year in a row, according to Kantar BrandZ Most Valuable Italian Brands 2023, which is based on the opinions of 50,000 people relating answers for 1,191 brands in 84 categories. The brand value is determined by the “market value” (share price) as well […]
Financial results coming out one after the other. Piquadro and Zegna recorded solid performances during the 1st quarter of 2023. A result that Ferragamo doesn’t achieve, while Sergio Rossi shows slightly higher revenue in 2022, and its owner (Lanvin Group) increased revenue and augmented losses. Lastly, Mulberry announced to have closed the year positively, but didn’t supply numbers....
