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☆ The fall of Gucci was inevitable
▼ + stars: | 2024-05-03 | by ( Madeline Berg | ) www.businessinsider.com time to read: +13 min

"We got used to hearing about double-digit growth at Gucci," Fflur Roberts, the head of luxury goods at Euromonitor, told Business Insider. "I think of what a fashion editor is wearing — it's not Gucci," Lindsey Solomon, a fashion publicist, told BI. After taking the top spot on the Lyst Index of fashion's hottest brands in 2022, Gucci dropped to number 11 last quarter. "We still believe the Gucci brand's current growth rate, which is 10 times higher than that of the industry, represents a risk going forward," Morningstar's Sokolova wrote in a 2017 note. Gucci relied heavily on China for its growth, but stores — perhaps including this one in China's Hainan Province — have struggled recently.

Persons: Alessandro Michele's, loafers, Gigi Hadid, Sienna Miller, Steve Madden, ASOS, Sally Singer, Michele, Fflur Roberts, Alessandro Michele, Harry Styles, Billie Eilish, Jared Leto, Kevin Mazur, Bauer, Griffin, Jeff Kravitz, Gucci, Sabato De Sarno, Lindsey Solomon, De Sarno, François, Henri Pinault, China —, Jelena Sokolova, Solomon, Daniele Venturelli, Michele —, Sokolova, It's, Thomas Chauvet, Morningstar's Sokolova, Michele's Gucci, wasn't, Jeremy Moeller, Chauvet, Roberts, Chanel, Gucci's, Gucci hadn't, Hermès, Birkin, Louis Vuitton's Neverfull, Pinault, Louis, Euromonitor's Roberts Organizations: Creative, Gucci, The Recording Academy, Axelle, Morningstar, BI, Citi, Disney, Getty, Revenue, China News Service, Bain, Louis Vuitton Locations: Euromonitor, China, The Asia, Pacific, China's Hainan Province, Asia

☆ China’s growing love of luxury watches remains strong, despite economic headwinds
▼ + stars: | 2024-04-19 | by ( Leona Liu | ) edition.cnn.com time to read: +9 min

Despite economic challenges looming large — including prolonged downturns in both the housing and stock market — China’s fascination with luxury watches remains undiminished. Cyril Zingaro/WWGF/KeystoneCertainly at this year’s fair, well-dressed, well-accessorized Chinese customers appeared unfazed by economic uncertainties. After more than 20 years working in the region, he believes China’s economic slowdown is just a temporary phase. “The situation may be slightly (more) challenging for mid-level luxury brands (whose clients’ disposable incomes are potentially more at the whim of market forces). Collectors appreciate the craftsmanship, rarity, and heritage associated with luxury timepieces, which can hold or increase in value over time.

Persons: Matthieu Humair, Cyril Zingaro, Jackson Yee, Jaeger, Zhu Yilong, Wang Yang, Xiao Zhan, David Sadigh, Patek Philippe, Van Cleef, ” Sadigh, Valentin Flauraud, ”, Ricardo Guadalupe, “ We’ve, Pierre Albouy, Keystone Carson Chan, Richard Mille Asia, Bonhams, ” Chan, Raphael Young, Lange, Söhne, Wilhelm Schmid, Lumen, Chan, Vacheron, Young, Roger Dubuis, Dior, Louis Vuitton, Gucci — Chanel, Hermes, Hermès, Attelé, Chanel, Mademoiselle Chanel, “ Organizations: Geneva CNN —, Federation of, Swiss Watch Industry, IWC, Digital Luxury, CNN, Keystone, Fondation, “, Berkley, Couture Locations: Geneva, China, Hong Kong, Asia, Switzerland, Chopard, Europe, “, Asia — China, Guadalupe, Swiss, watchmaking

☆ Salesforce CEO Marc Benioff tells retail workers: AI won't steal your job. It can make you better at it.
▼ + stars: | 2024-01-24 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +2 min

Generative artificial intelligence won't take jobs from retail workers; instead, it will make them better at their jobs, Salesforce CEO Marc Benioff told attendees at the National Retail Federation's annual conference in New York last week. They're not going to need as many agents," Benioff said. The system was able to augment those agents and make them better," Benioff said. With generative AI, he added, Gucci had taken its customer service agents to "a whole other level." "They're pretty incredible people, using generative AI for the first time," Benioff said.

Persons: Marc Benioff, Benioff, NRF, John Furner, Loro Piana, Gucci —, They're, That's, bam, Gucci Organizations: Business, Walmart, LVMH, Gucci, Kering Locations: New York, Italy

De Sarno’s debut Friday, nine months after being hired in the wake of Michele’s surprise departure, was the most anticipated on the Milan Fashion Week calendar for next spring and summer womenswear. The fervor was enough to fill the front row with Hollywood A-listers including Julia Roberts and Ryan Gosling. In one recent interview, De Sarno professed admiration for Brutalist architecture, suggesting a love of the essential, and his collection was exactly that. A tiny leather bra top in embossed leather was paired with a matching midi skirt. The conversation started this week by De Sarno is to be continued.

Persons: — Sabato De Sarno, Gucci —, “ Gucci Ancora, “ Gucci, De Sarno, Alessandro Michele, Sarno’s, Julia Roberts, Ryan Gosling, Tom Ford, Guccio Gucci, De, tinsel, — Organizations: MILAN, Prada, Dolce, Gabbana, Milan, Hollywood, Gucci Locations: Valentino, London, Brera

☆ T.J. Maxx's small presence on the web is giving Shein and Temu a big advantage
▼ + stars: | 2023-06-30 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

Analysts said that rivals like Shein and Temu pose "major threats" to brands like T.J. Maxx. Certain brands can't be searched for directly by name on T.J. Maxx's online store. E-commerce is just a small part of TJX's businessShein and T.J. Maxx share a similar customer base. A representative for TJX declined to comment when Insider asked about the growing competition from companies like Shein and Temu and whether TJX plans to expand its online presence. Customers said that they liked shopping at T.J. Maxx because the brand offers good value for money and a chance to hunt for good deals.

Persons: Maxx, —, John Klinger, Calvin Klein, Gucci —, Ernie Herrman, TJX's Herrman Organizations: Service, UBS, TJX's, Nike, TJX, Customers, Maxx Locations: Maxx, Sierra, COVID

☆ Gucci’s horsebit loafer is still a coveted status symbol 70 years on
▼ + stars: | 2023-06-08 | by ( Leah Dolan | ) edition.cnn.com time to read: +5 min

Despite their vastly differing personal styles and occupations, they have all been spotted in a pair of Gucci horsebit loafers. In mid-June, coinciding with the menswear shows at Milan Fashion Week, Gucci will stage an exhibition celebrating the legacy of its signature loafer. In 1974, George H. W. Bush wore a pair of horsebit loafers to meet then-President Gerald Ford. Through the decadesThe success of Gucci’s horsebit loafers has been far-reaching, and the secret to their ongoing relevance may lie in the shoe’s versatility. The horsebit loafer is Gucci’s answer to the near-philosophical question: What shoes do I wear?

Persons: George H, Bush, ’, Jane Birkin, Wiz Khalifa, Gucci horsebit, Gucci, loafers, Gerald Ford, David Hume Kennerly, Birkin, Francis Ford Coppola, Sophia Loren, Charlotte Casiraghi, Jodie Foster, Brad Pitt, Zoe Kravitz, Gigi Hadid, Guccio Gucci —, —, Aldo, Rodolfo, Vasco, Guccio, Serge Gainsbourg, Gucci’s, Alessandro Michele, JB Lacroix Organizations: CNN, Metropolitan Museum of, Milan Fashion, Golden Globe, MTV VMA, Savoy, Wall Locations: Cannes, Monégasque, London, Florence, Italy, New York, France

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