The analysts are not happy. Chairman Yves-André Istel’s statement at the Richemont earnings report today that “No disposals are under consideration at this time or for the foreseeable future.” has been met with grim reaction in the city, which was hoping that Johan Rupert’s sabbatical, and the new leadership of co-CEOS Bernard Fornas and Richard Lepeuwould opt for a rationalisation of the Group, where the fashion brands – Chloe, Alfred Dunhill, Lancel, Shanghai Tang, Alaia – have always seemed an anomaly. Clearly, there’s something of a perception gap here between internal and external players. Why? Read more
When, in the course of conversations with fashion friends and acquaintances in the luxury world, I mentioned that I was having lunch with JAR, aka Joel Arthur Rosenthal, aka “the Fabergé of our time”, the following reaction inevitably occurred.
Yesterday, at Narciso Rodriguez’s show, close readers of show notes might have noticed a little symbol next to many of the look descriptions in his running list: the Woolmark swirl. It’s the latest example of what seems to me a growing trend of industry suppliers coming out from behind the curtain to promote, publicly, their raw materials as luxury brands in themselves – the luxury behind branded luxury if you will. Aside from Woolmark, the World Gold Council has also launched an up with gold initiative (that’s me paraphrasing), both along the lines of what Saga furs and Swarovski did before them. Want to know why you see what you see on the catwalk? Cherchez les suppliers! Read more
Sometimes, reading about brand expansion plans makes you long for the good old days when designers big market grabs had to do with sunglasses and fragrance. Today Marc Jacobs’ opened his new all-beauty store on Bleecker street in Manhattan, bringing his stores on the block to five. But why stop there? CEO Robert Duffy “hinted” that the future could hold “fine jewelry and furniture.” I bet he’s not the only one at LVMH who thinks so.
The other day I was at a dinner arranged by the World Gold Council that featured the usual suspects – David Lamb, MD jewellery; jewellers Pamela Love and Janis Savitt – as well as one thing that was not like the others: Olivia Bolles, aka Olivia Bee, aka an 18-year-old photographic “protégé.” She had just started shooting the new “Love Gold” campaign, aimed at cooling-up the image of the yellow metal, which apparently suffers from a grandmother-complex among Gen Z. Which raises the question, is she a one-off, or the harbinger of change to come? Read more
Christiane Amanpour is the chief international correspondent for CNN, host of an eponymous interview programme, and is also global affairs anchor of ABC News. She grew up in Iran and in Great Britain and joined CNN after university. As a reporter, she has covered many conflicts as well as interviewing heads of state such as Iran’s former president Mahmoud Ahmadi-Nejad and the former Egyptian president Hosni Mubarak.
One of the more notable moments of the recent Paris couture week occurred at a very fancy party hosted by Bulgari in a former palace now used as the Chamber of Commerce on Avenue Friedland. As attendees milled around the gardens, swilling champagne, snacking on stuffed tomatoes and chatting to the various executives – outgoing chief executive Michael Burke (who has moved to Vuitton), incoming chief executive Jean-Christophe Babin and Francesco Trapani, head of watches and jewellery at LVMH – models sporting elaborate jewels mingled with guests such as Milla Jovovich, Alexa Chung and Bradley Cooper.
Of all the executives, models and celebrities in attendance, however, none drew as many sideways glances and surreptitious whispers as the new face of Bulgari’s Diva collection and the star of its forthcoming ad campaign, resplendent in black trouser suit and 43-carat sapphire necklace – France’s former first lady Carla Bruni-Sarkozy. Read more
It’s too bad EU trade commissioner Karel De Gucht wasn’t at the couture shows last week. It would have given him lots of ammunition during this week’s EU-US free trade talks (presuming they go ahead) when the question of the French exception culturelle is raised. After all, the fashion industry is not covered – not even the made-to-order highest end of it, as invented and perfected in Paris. What became increasingly clear during the collections is that, other than location, couture no longer seems to have much to do with France.
Part of this is literal: of the big brand names still on the couture schedule, only one, Jean Paul Gaultier, is actually designed by a Frenchman. The rest are created by Belgians (Dior, Martin Margiela Artisanale), Dutch (Viktor & Rolf), German (Chanel), Italians (Versace, Armani, Valli, Valentino), Russians (Ulyana Sergeenko) and Lebanese (Elie Saab). But most of it is aesthetic.
According to a new report published today by the Digital Luxury Group, Chanel has ousted Louis Vuitton for the first time as the most-searched-for luxury brand in China (that’s their Beijing store, below). Rock our little velvet-lined world. Especially because why is one of the best arguments I’ve yet heard for why a brand needs to hit every luxury market segment.
These days we all hold certain truths to be self-evident: 1) that the Chinese market, while slowing, is still expected to be the biggest fashion market in the world; 2) that the Chinese are attracted to the idea of European heritage and skills; 3) that there is an increasing drive in China to support home-grown design (or to create it); 4) that the Europeans are trying to figure out how to exploit all those two realities to their own profit. Hence, for example, Kering’s purchase last year of Qeelin, the Chinese jewellery brand, and hence Iceberg’s decision to partner with Chinese video artist Yi Zhou for a capsule collection of menswear, womenswear, and accessories, to be launched next Christmas. What’s interesting about both these choices is they are focused much more on East than West. Fair enough: you go where the money is. And with the Iceberg case we reach example number 2 of this approach, thus bringing us ever-closer to critical mass for a trend.