The crisis does not spare LVMH: latest quarterly figures are below expectations. Not only that. The Fashion & Leathergoods division reported a 5% drop in sales, again well below estimates. Not a minor detail: it is the first down for the French group since 2020, when the pandemic raged. Crisis does not spare LVMH LVMH’s […]
LVMH disappointed everyone. Especially the market, as its shares fell 7% this morning when the stock markets opened. Yesterday the world’s largest luxury group reported an unexpected drop in third-quarter sales and stressed the criticality of an “uncertain economic and geopolitical environment”. Here’s what CFO Jean-Jacques Guiony said and the consequent analysts’ reactions. LVMH disappoints...
Craftsmanship and product value are the defense against the luxury crisis. LVMH’s number one, Bernard Arnault, spoke about it during the 10th anniversary celebration of the Institut des Métiers d’Excellence training program. Olivier Fournier, deputy executive director corporate development and social affairs at Hermès, also touched on the topic. Defense against the crisis Excellence in...
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...
Frasers won’t quit, and continues to want Mulberry. In recent days, majority shareholder Challice has rejected a second offer from Frasers (minority shareholder), as the company is “considering its position”. A less than “British” back-and-forth between the two shareholders followed. Frasers won’t quit Another shareholders’ clash for Mulberry. Challice and the British leather goods brand...
Sharing his passion for leather on social media to promote its authenticity. “I write love letters to craftsmanship for others to read”. There is romance in the way Ben Geisler tells us about his work as a saddler, leatherworker and engraver. The American craftsman is well known for his leathercrafting work, but also for the […]
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 […]
If the premiumization of Adidas is the currently applied one, so be it! The sports brand has launched a new model of the Samba sneaker: made in Italy and made with leather. This model stands as a candidate to be the most expensive shoe in Adidas’ history, classifying itself in the premium segment. The premiumization […]
The ancient Neapolitan tradition of leather gloves is renewed with the passing of generations. The Campania-based company Osci Pellami is 90 years old, and celebrated the important anniversary on the occasion of Lineapelle 104 (17-19 September 2024). The historic company, specialised in glove leather, is now in its fourth generation and sees young people growing...
After the show of picketing workers and trade unionists in front of the Lin Weidong Chinese leather factory in Seano (Prato), the Public Prosecutor’s Office, the news reports, got to work. And it took the escalation of violence, for the judiciary system to move on gangmastering in Prato, as the judges in Milan have already...
From Mytheresa taking YNAP to Swiss fund Evoco taking control of Manebì. Moving on to the Y/Procet crisis and the Mulberry saga. Many surprises and some confirmations, M&A deals in the fashion and luxury world continue relentlessly. Mytheresa taking YNAP The biggest deal is the one in which Richemont (finally) divested former e-commerce giant YNAP...
Holding Moda’s leather goods division looks beyond the crisis and aims to increase production capacity, also through a new acquisition that will come by the end of the year. “Aggregations will win. The market will restart in the second half of 2025, but at a different pace”, tells to La Conceria Simone Lenzi, owner of...
Using leather to get back in harmony with nature. The choice of materials is not just a matter of business, market share or a trend of the moment. Yusuf Osman, better known by his Instagram profile with 20,000 followers Yussico, artisan and leather enthusiast, shifts the point of view by taking a few steps back....
Japanese beer also looks at luxury and leather. The Japanese giant Sapporo Breweries has signed a collaboration with Isamu Katayama’s Backlash brand. Out of this collaboration came a super-exclusive biker jacket. When a Japanese brewer invents a leather jacket On 1 October, Sapporo Breweries launched a USD 1,800 leather biker jacket. The Japanese beer brand […]
Research, development and innovation to challenge the crisis. But according to Officine di Cartigliano, we are beginning to see signs of a restart, despite the turmoil and perplexity surrounding the automotive industry. Active since 1961 in the tanning industry, Officine di Cartigliano have been producing machines for the process of changing the state of wet-tanned...
Morocco wants to revive the tanning industry to also adequately support its manufacturing supply chain: shoes, bags and clothing. Goal number one: to leave behind the image that Moroccan tanning is identified with: the open-air tanks of Fez or the (to say the least) problematic tanning district of Marrakesh. “Within two years, artisanal tanning will...
Water treatment, workplace safety, contracts for employees and registration of the companies themselves. Nothing is clear. In fact, the San Benito district is so opaque as to justify the doubt that it is almost completely unauthorised. The Colombian newspaper Diario del Cauca dedicates a video-investigation to the manufacturing hub of Bogotá where, as a black...
“We need to share the honest truth. The leather industry has the best scientists in the world, but the message is not reaching ordinary people”, said Katie Kutskill, Business Operations & Strategy at Is It Leather?, a platform established in 2021 with the goal of advocating for leather and spreading correct information about the material. […]
Luxury without heels. “Elegance and luxury are no longer synonymous with shoes with vertiginous heels. In fact, as time goes by, I think the heel is diminishing. Women who wear low shoes are no less elegant than those with heels”. The debate is opened by Giacomo Morelli (pictured), 38, founder of the brand Gio* Milano...
Spanish shoes are smiling thanks to Italy. Imports of Spanish shoes into our country grew by 40% in the first seven months of the year. On the other hand, there is no similar pull for Madrid’s tanning industry, whose exports are shrinking. Shoe smiles thanks to Italy According to data released by the Spanish General […]
