Hermes

It’s never a dull moment with those LVMH folks. After being in the news for almost the entire last week thanks to various fashion shows, they’ve gone and extended their time in the limelight by announcing a joint venture with the Koh family of Singapore to take ownership of Heng Long, one of the most important suppliers of crocodile skins to the luxury industry — including Hermes.
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What is with these French fashion houses? Do they not get enough attention?

New York fashion? What’s that? Read more

It’s that time of year when fall ad campaign break, and magazines occasionally double as doorstops. Judging by the size of US Vogue, along with yesterday’s Hermes announcement that operating profit was up tk per cent, you’d think that the economy, at least as far as luxury has gone, has recovered. But back to the ad campaigns. Hands-down the most charming one I’ve seen thus far is the new Lanvin video: check it out, and I dare you not to smile. Which suggested to me perhaps its appeal was worth exploring.

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Recently I was at the unveiling of the new line of UGG Australia boots – you know, those squishy sheepskin booties that looks like slippers and became hugely trendy after movie stars like Kate Hudson started wearing them with shorts to get their Starbucks. Anyway, these UGGs were not those UGGs. These UGGs were all Made in Italy, mostly sporting very high heels or wedges, and priced not an average of $150, but an average of $1095. Yes, UGG, one of the defining styles of modern mass market cool, wants in on luxury. But does luxury want in on UGG?
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Is the fact that IMF chief Christine Lagarde has made Vanity Fair’s International best-dressed list good or bad for the image of bankers? Though at first I was excited about the news — yay! A female banker has finally been acknowledged for sartorial prowess; the “boring” stereotype is broken — after sleeping on it, I actually think this one could backfire.

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As promised, I’ve been thinking more about the LVMH/Hermes war of the words, and what Pierre Godé said yesterday at the Hermes AGM, and whether or not it should be taken at face value, and my answer is…not entirely. Read more

The Time magazine list of the 100 most influential people in the world is out and guess what: there’s only ONE fashion person on it: Tom Ford.  Read more

Sometimes in fashion it’s hard to see the trees for the forest. The dramas at Dior and Balmain have taken up so many column inches they have pretty much overshadowed everything else, including designer Vanessa Seward leaving Azzaro and now creative director Mauro Orietti (along with his father, production director Mario Orietti) leaving Zagliani, the Italian handbag company that achieved outsize notoriety for Mr Orietti’s patented use of Botox to make reptile skins particularly malleable. Except the latter is not going gently into that good night, and in his story lies a particularly contemporary moral.

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Hermes has released an annoucement noting they have received “an expression of interest from potential buyers in its 45 % stake in the Jean-Paul Gaultier company. Discussions have been initiated.” I find this logical (at least on their part) for a few reasons.

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There’s a report in today’s FT about falling luxury stocks on the back of the situation in Japan, but in reality, luxury groups have spent the last 10 years strategising about how to replace Japan on the balance sheet (China, anyone?), so in a way they were among the most prepared companies for the effects of the current disaster.

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