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☆ LVMH strikes Paris Olympic Games sponsorship deal
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

PARIS, July 24 (Reuters) - Luxury giant LVMH (LVMH.PA) unveiled on Monday a deal to sponsor next year's Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event. The group will also sponsor athletes, including French swimmer Leon Marchand, and its beauty retailer Sephora will sponsor the Olympic torch relay, LVMH said. Terms of the deal, which was negotiated by Antoine Arnault, one of the five children and heirs of LVMH Chairman and CEO Bernard Arnault, were not revealed. "The Games are an opportunity to make France shine," Antoine Arnault said as he made the official announcement. The run-up to an Olympic Games can become mired in global geo-politics and controversies over domestic matters can attract scrutiny, such as China's rights record ahead of the Beijing Games.

Persons: Louis Vuitton, Dior, Moet Hennessy, Chaumet, Leon Marchand, LVMH, Antoine Arnault, Bernard Arnault, Mimosa Spencer, Silvia Aloisi, Tomasz Janowski, Richard Lough Organizations: Louis, Olympic, Beijing Games, HK, Toyota, Thomson Locations: Paris, France, Belarus

☆ Private jets can be tracked. Here are all the sneaky ways billionaires can still fly unseen.
▼ + stars: | 2023-07-24 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

Sweeney also publicly tracked the personal jets of celebrities like Donald Trump, Taylor Swift, and Mark Zuckerberg. Its easier to hide on a chartered business planeLVMH CEO Bernard Arnault on board his private jet between Beijing and Shanghai. The FAA can make tracking more difficult, but it's not foolproofPuma/Jay Z's jet tracked on ADS-B Exchange with LADD indicator. Basically, this allows private aircraft owners to request the Federal Aviation Administration redact their tail number from public tracking. This means companies that use federal data to track commercial and general aviation flights, like FlightAware and FlightRadar24, will not display LADD-identified planes.

Persons: Jack Sweeney ruffled, Elon Musk, Taylor Swift, Tim Cook, Jack Sweeney, Sweeney, Donald Trump, Mark Zuckerberg, Bernard Arnault, Marc DEVILLE, LVMH Moët Hennessy Louis Vuitton, Arnault, Puma, Jay Z's, Travis Scott, Jay, Steven Spielberg, Oprah, LADD Organizations: Tesla, Gulfstream, Twitter, Getty, Bombardier, Apple, FAA, LADD, Federal Aviation Administration, PIA, Facebook Locations: Idaho, Beijing, Shanghai, China

☆ Loewe overtakes Prada: How the new hottest fashion brand in the world shot to fame with help from Beyonce, Rihanna, and Kylie Jenner
▼ + stars: | 2023-07-21 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

Loewe has surpassed Prada as the hottest fashion brand in the world. Loewe is a Spanish fashion house that was founded by a leather craftsman in 1846. Loewe has surpassed the Italian brand as the hottest fashion brand in the world, according to the Lyst Index, a quarterly ranking of the most popular brands and products. Established in 1846, Loewe is a Spanish fashion house that has been around longer than Prada. And Emily Ratajkowski wore Loewe's giant laceleaf top during Paris Fashion Week.

Persons: Loewe, Prada, Lyst, Enrique Loewe Roessberg, King Alfonso XIII, LVMH, Jeremy Moeller, Johnathan Anderson, JW Anderson, Loewe's pixelated hoodie, Anderson, Rihanna, Beyonce, Emma Watson, Jennifer Lawrence, Emily Ratajkowski, Kylie Jenner Organizations: Service, Prada, London College of Fashion, British, Getty, Super, Paris Locations: Spanish, Wall, Silicon, Irish

"The luxury industry seems to be outperforming the consumer market as a whole in China, but you know, really, almost everyone you speak to, there's a level of uncertainty," said Agility's managing director Amrita Banta. "There's a level of not feeling entirely comfortable with their future economic position that is really affecting almost everybody in China." Those factors disproportionately affect "aspirational" luxury customers who can easily live without another Gucci bag or $900 pair of sneakers. In China, luxury consumers are younger than in the rest of the world with an average age of 28, according to BCG - something companies had seen as positive for future growth. "In the trends that I'm seeing in the U.S. and also in China, more aspirational younger consumers are feeling more of a pain," Morningstar senior equity analyst Jelena Sokolova said.

Persons: Richemont, splurge, Morgan Stanley, Hermes, Chanel, Amrita Banta, Dior, Balenciaga, Gucci, Jelena Sokolova, HSBC's Erwan, Rambourg, Casey Hall, Mimosa Spencer, Catherine Evans Organizations: Cartier, Citigroup, Richemont, Citi, LVMH, Bain, Morningstar, Thomson Locations: SHANGHAI, PARIS, China, North America, Wuhan, Zhengzhou, Charlotte, Nashville, Swiss, Americas, Asia, United States, luxury's, U.S, Japan

☆ Gucci CEO Marco Bizzarri to step down as parent company chases global luxury boom
▼ + stars: | 2023-07-19 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —The president and CEO of Gucci will step down later this year as part of a leadership overhaul at its French parent company Kering aimed at capturing more of the booming global market in luxury goods. Marco Bizzarri, who has been at the helm since 2015, will leave on September 23, Kering said in a statement Tuesday. Jean-François Palus, who currently serves as Kering’s managing director, will take over on a transitional basis. “We are building a more robust organization to fully capture the growth of the global luxury market,” Pinault said. Meanwhile, Kering’s shares have risen nearly 11% over the same period, which is much closer to the average stock price increase of 8.4% for all companies in the benchmark Stoxx Europe 600 index.

Persons: Gucci, Kering, Marco Bizzarri, Jean, François, Yves Saint Laurent, ” François, Henri Pinault, ” Gucci, ” Pinault, —, Christian Dior Organizations: London CNN, Hermès International, Christian

☆ Next Gucci CEO may have toughest job in luxury
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 19 (Reuters Breakingviews) - Gucci is getting a new look. Gucci took a harder hit during the pandemic than some mega-brand rivals, then struggled to bounce back. That’s way below the 10% and 15% rise brokers are pencilling in for Louis Vuitton and Christian Dior (DIOR.PA) respectively. All of that makes Gucci CEO job one of the most interesting in the luxury sector – but also possibly the toughest. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Gucci, Marco Bizzarri, Jean, François, Kering’s, Bizzarri, Roberto Eggs, Louis Vuitton, Christian Dior, Karen Kwok, Xavier Niel’s, Liam Proud, Streisand Neto Organizations: Reuters, Tuesday, Gucci, JPMorgan, Revenue, Alpha, Louis, Hermès, Barclays, Bain & Company, Twitter, Xavier Niel’s GAM, Commonwealth Games, Thomson Locations: Milan, Italian, Kering’s Paris, China, People’s Republic

☆ Markets are 'overdue' a correction, investment manager says — and picks 3 stocks to buy
▼ + stars: | 2023-07-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

U.S. markets are "overdue" a 10% correction, with stocks largely in overbought territory, according to James Demmert, chief investment officer of Main Street Research. "We would argue that yes, we're closer to the end of the bear market. Some investors do not consider it the end of a bear market until the S & P 500 reaches a new high. Its all-time closing high is 4,796.56; the S & P 500 was trading around 4,510 Monday. Three stocks to buy In the event of a near-term market correction, investors should have "some dry powder ready to go," said Demmert.

Persons: James Demmert, Demmert, we're, CNBC's, Warren Buffett Organizations: Research, CNBC, Mitsui, Devices Locations: Japan, France, Germany, U.S

☆ Morning Bid: China falls short and oil ebbs but banks impress
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +4 min

Sub-forecast and sharply slowing retail sales growth for June likewise offset a more upbeat industrial output readout for the months. Even though falling import and export prices in June reinforced the disinflation picture, two-year Treasury yields recouped some of the week's steep declines. LUXURY FIRMSU.S. stock futures were little changed ahead of Monday's open, but two-year Treasury yields edged back lower to 4.72%. Elsewhere, shares of Richemont (CFR.S) dropped nearly 7% after the world's second-biggest luxury firm reported a miss in its sales and amid the China growth dampener. U.S. Treasury Secretary Janet Yellen said she was working with India on energy transition and "eager" to work with China on debt workouts.

Persons: Mike Dolan China's, Wells, Morgan Stanley, Janet Yellen, Mike Dolan, Alison Williams Organizations: Hong, Reserve, Nasdaq, Treasury, JPMorgan, Citi, Bank of America, Tesla, Netflix, York Federal, governor's, . Treasury, Reuters, Thomson Locations: U.S, China, Hong Kong, Tokyo, Asia, Shanghai, Wall, Richemont, India, Russia, China . U.S

☆ Luxury tests limits of its immunity to downturns
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 17 (Reuters Breakingviews) - Compagnie Financiere Richemont (CFR.S) is testing the limits of luxury’s immunity to downturns. Shares of other big luxury players, including $236 billion Hermes International (HRMS.PA) and $502 billion LVMH (LVMH.PA), also fell 4.2% and 3.7% respectively. The top 5% of wealthiest shoppers who are probably less sensitive to inflation drove around 40% of global luxury sales last year, according to Boston Consulting Group. Shares in the European luxury sector are on average up 69% since the start of the pandemic in 2020. Meanwhile, revenue in Asia, which makes up 40% of Richemont's revenue, grew 40% year-on-year in the last quarter.

Persons: Cartier, U.S . downer, Karen Kwok, George Hay, Sharon Lam Organizations: Reuters, Financiere, Hermes, Boston Consulting, Citi, U.S ., Twitter, Cathay, Thomson Locations: Asia

☆ Strong U.S. demand eases pressure on Novo to show weight-loss drug's health benefits
▼ + stars: | 2023-07-14 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

Investors had been banking on the study results being the next big driver of the company's shares. That's due to high demand and after Novo raised its profit outlook in April, said Berenberg analyst Kerry Holford. If the risk reduction was between 10 and 14%, shares would decrease by less than 5%. A year ago, investors said a risk reduction of 10 to 14% in the trial would put significant downward pressure on the stock, Holford said. Barclays analyst Emily Field said a risk reduction as low as 11% could boost the stock.

Persons: Novo, Kerry Holford, Holford, Emily Field, Maggie Fick, Josephine Mason, Alexandra Hudson Organizations: Soaring U.S, Novo Nordisk's, Nestle, UBS, Reuters, Barclays, May, BMO Global Asset Management, Alexandra Hudson Our, Thomson Locations: Danish, United States

☆ Italy's luxury groups set aside rivalries to keep it local
▼ + stars: | 2023-07-14 | by ( Elisa Anzolin | ) www.reuters.com time to read: +5 min

SMALL MANUFACTURERS APLENTYItaly is home to thousands of small manufacturers that cover 50-55% of the global production of luxury clothing and leather goods, consultancy Bain calculates. LVMH announced in May it had taken a majority stake in Nuti Ivo Group, an Italian company that has specialised in making leather products since 1955. Kering managing director Jean-Francois Palus said the luxury group is increasingly looking to bring production in house. "Italy has not created a (major) luxury hub, but we have entrepreneurs who have the ability to activate the right relationships at the right time," said Stefania Lazzaroni, general manager at Italian luxury industry association Altagamma. "Italian groups are now more managerialised, more organised and also stronger, which makes them more open to thinking together," he said.

Persons: Luigi Fedeli e, Zegna, Gildo Zegna, Ermenegildo, Kering, LVMH, Jean, Francois Palus, It's, Chanel, Brunello, Stefania Lazzaroni, Prada, Roberto Costa, Bertelli, Elisa Anzolin, Silvia Aloisi, Keith Weir, Jane Merriman Organizations: France MILAN, Prada, Filati Biagioli Modesto S.p.A, Biagioli, Prada Group, Reuters, Bain, Group, Nazionale della Moda, Global Luxury Investment Banking, Citigroup, Thomson Locations: Italy, France, Italian, Monza, Milan, Filati Biagioli, Bertelli, Nuti

☆ From 'Barbie' to Formula 1, TAG Heuer is making its mark on the luxury watch market
▼ + stars: | 2023-07-12 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

It plans to more than double its boutiques in the U.S. to 50 by 2026, according to TAG Heuer CEO Frédéric Arnault. Frédéric Arnault, CEO of TAG Heuer. Arnault said TAG Heuer is making strides due in part to marketing wins and new products, such as the new TAG Heuer Monaco Chronograph with a skeleton dial worn by Verstappen, which clocks in at more than $10,000. Gosling has been sporting a 36mm TAG Heuer Carrera with a bright pink dial as part of his promotion of the new "Barbie" movie. Arnault said "Barbie" fans can expect to see other TAG Heuer watches in the film as well.

Persons: Frédéric, Bernard Arnault, Arnault, Max Verstappen, Sergio Perez, Frédéric Arnault, LVMH, Fred, Louis Vuitton, Bulgari, Philippe Nautilus, Ryan Gosling, Gosling, Barbie, Ryan Organizations: LVMH, TAG, TAG Heuer, CNBC, Oracle Red Bull Racing, Monaco, CNBC TAG, Zenith, Carrera Locations: U.S

☆ LVMH takes on Rolex: Tag Heuer opens new flagship store in New York City
▼ + stars: | 2023-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLVMH takes on Rolex: Tag Heuer opens new flagship store in New York CityCNBC’s Robert Frank joins 'Squawk on the Street' to discuss LVMH's plan to take on luxury watch maker Rolex.

Persons: Robert Frank Organizations: Rolex Locations: New York City

The pan-European STOXX 600 (.STOXX) ended 0.7% higher, rising for the third straight session. Irish stocks (.ISEQ) jumped 2.1%, leading the advance among its continental peers. Irish stocks were boosted by gains in Kingspan (KSP.I) which jumped 15.7% after forecasting record profit for the first half of the year. Shares of China-exposed luxury firms including LVMH (LVMH.PA), Hermes (HRMS.PA) and Richemont (CFR.S) rose between 2% and 2.3% while industrial stocks (.SXNP) also sensitive to China advanced 1.0%. Mercedes-Benz Group (MBGn.DE) shares rose 0.7% after sales in the second quarter rose 6% year-on-year on the back of demand for all-electric and top-end vehicles.

Persons: Michael Hewson, Richard Flax, Matteo Allievi, Shreyashi Sanyal, Rashmi Aich, Nivedita, Emelia Organizations: Miners, U.S . Federal Reserve, LVMH, CMC Markets, tomorrow's U.S, Nordic Semiconductor, Daimler, Benz Group, Thomson Locations: China, Kingspan, Europe, U.S, tomorrow's, Britain, Gdansk, Amruta, Bangalore

☆ Jeweller Bulgari apologises after Taiwan listing sparks fury in China
▼ + stars: | 2023-07-11 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +1 min

SHANGHAI, July 11 (Reuters) - High-end jeweller Bulgari has apologised after allegedly listing Taiwan as independent from China on an overseas website, sparking a furious response on Chinese social media. The company and its Chinese celebrity ambassadors became trending topics on China's Twitter-like Weibo platform after users spotted the country drop down menu on Bulgari's website. The controversy prompted state media outlet Global Times to post on social media that: "Taiwan is an inalienable part of China's territory and cannot be listed as a country". It's not the first foreign brand to face the wrath of Chinese social media users aggrieved about a perceived territorial slight. Reporting by Casey Hall Editing by Ed Osmond and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Bulgari, It's, Versace, Casey Hall, Ed Osmond, Mark Potter Organizations: Twitter, Times, Givenchy, Thomson Locations: SHANGHAI, Taiwan, China, Hong Kong, Macau

☆ Layoffs at Dow Jones have Wall Street Journal staffers on edge as the newsroom expects more cuts and changes under top editor Emma Tucker
▼ + stars: | 2023-07-10 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Dow Jones laid off 10 people on the business side in late June. Wall Street Journal insiders are prepping for a content overhaul and potential cuts later this summer. A steady drip of layoffs continues at Dow Jones, which laid off another 10 people in the last week of June. The roles were mostly finance, sales, and marketing people who work across Dow Jones properties, which include The Wall Street Journal, Barron's, and MarketWatch. The Journal newsroom has largely been spared, but EIC Emma Tucker is conducting a sweeping content review.

Persons: Dow Jones, Almar Latour, Emma Tucker, Tucker, Rupert Murdoch's, she's, Liz Harris, Taneth Evans —, Charles Forelle, Karen Pensiero, Neal Lipschutz, Jason Anders, Thorold Barker, Kristina O'Neill, Sarah Ball, She's, Bernard Arnault, There's Organizations: Wall Street Journal, Dow, Street, MarketWatch, News Corp, Sunday Times, . Magazine Locations: Dow Jones, London, Europe, Middle East, Africa

☆ Fendi takes contemporary haute couture lineup to Palais Brongniart in Paris
▼ + stars: | 2023-07-06 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

[1/5] A model presents a creation by designer Kim Jones as part of his Haute Couture Fall/Winter 2023-2024 collection show for fashion house Fendi in Paris, France, July 6, 2023. REUTERS/Sarah MeyssonnierPARIS, July 6 (Reuters) - Italian fashion house Fendi took to the former Paris bourse headquarters on Thursday for its fall haute couture catwalk show, where designer Kim Jones showed a contemporary lineup of light, sensual gowns for formal occasions. Models marched steadily down the marble runway of a stark, white space set up in the neoclassical Palais Brongniart while dramatic opera singing played on the soundtrack. Jones, who is also creative director for the menswear line of Dior, another LVMH-owned fashion house, took his bow with Delfina Delettrez Fendi, artistic director of jewellery. The Paris haute couture shows wrap up Thursday, having featured labels Giorgio Armani Prive, Kering-owned (PRTP.PA) Balenciaga, Dior, Valentino and American fashion house Thom Browne.

Persons: Kim Jones, Sarah Meyssonnier PARIS, Fendi, Jones, Dior, Delettrez, Shakira, Naomi Watts, Giorgio Armani Prive, Valentino, Thom Browne, Mimosa Spencer, David Holmes Organizations: Haute Couture, REUTERS, Paris bourse, Thomson Locations: Paris, France

European stocks (.STOXX) slipped 0.6%, heading for their first daily loss in eight sessions, with German shares (.GDAXI) down the same amount. The MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, fell 0.2%. Earlier, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) dropped 0.8% after the China data. Japan's Nikkei (.N225) also fell 0.3% on profit-taking after climbing to three-decade highs. Brent crude futures fell 0.3% to $75.97 a barrel after climbing 2.1% overnight.

Persons: Michael Hewson, Guy Miller, Brent, Tom Wilson, Stella Qiu, Dhara, Sam Holmes, Helen Popper, Christina Fincher Organizations: Global, Federal, Independence, CMC Markets, Reuters, Zurich Insurance Group, U.S, Japan's Nikkei, Thomson Locations: SYDNEY, China, U.S, Europe, United States, Asia, Pacific, Japan, Tokyo, Saudi Arabia, Russia, London, Sydney

☆ China growth concerns weigh on European shares at open
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of LVMH Moet Hennessy Louis Vuitton is seen during the company's shareholders meeting in Paris, France, April 20, 2023. REUTERS/Gonzalo Fuentes/File Photo/File PhotoJuly 5 (Reuters) - European shares fell on Wednesday as fresh data pointing to China's faltering economic recovery soured investor sentiment, which has been under pressure from uncertainty about future monetary policy steps by major central banks. The pan-European STOXX 600 index (.STOXX) was down 0.4% by 7:02 GMT, following a quiet session on Tuesday when the U.S. markets were closed for Independence Day. Miners (.SXPP) fell 1.0% and were the biggest sectoral decliners as concerns around weak demand from top consumer China, as well as slowing growth in other major economies, hurt metal prices. Reporting by Amruta Khandekar; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: LVMH Moet Hennessy Louis Vuitton, Gonzalo Fuentes, Pernod Ricard, Hermes, Amruta Khandekar, Dhanya Ann Thoppil Organizations: REUTERS, Independence, Thomson Locations: Paris, France, U.S, China

☆ Valentino takes modern haute couture lineup to Chateau de Chantilly
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +1 min

[1/5] Models present creations by designer Pierpaolo Piccioli as part of his Haute Couture Fall/Winter 2023-2024 collection show for fashion house Valentino at the Chateau de Chantilly near Paris, France, July 5, 2023. REUTERS/Sarah MeyssonnierPARIS, July 5 (Reuters) - Italian fashion house Valentino took to the Chateau de Chantilly, north of Paris, for its fall haute couture outing, where designer Pierpaolo Piccioli presented a romantic lineup of updated styles for the contemporary red carpet set. The show opened with model Kaia Gerber, Cindy Crawford's daughter, in a white shirt, left unbuttoned down to the midriff, and worn with loose jeans. Topping off the look were huge, crystal chandelier earrings and metallic, pointy toed flats adorned with bows. The Paris haute couture shows this week, featuring labels Giorgio Armani Prive, Kering-owned (PRTP.PA) Balenciaga, LVMH-owned (LVMH.PA) Dior, as well as American fashion house Thom Browne wind up on Thursday.

Persons: Pierpaolo Piccioli, Valentino, Sarah Meyssonnier PARIS, Chateau, Kaia Gerber, Cindy Crawford's, Topping, Anohni, Piccioli, Giorgio Armani Prive, Dior, Thom Browne, Mimosa Spencer, Sandra Maler Organizations: Haute Couture, REUTERS, Thomson Locations: Chantilly, Paris, France

☆ Elie Saab throws focus on capes for haute couture outing in Paris
▼ + stars: | 2023-07-05 | by ( Mimosa Spencer | ) www.reuters.com time to read: +1 min

[1/5] A model presents a creation by designer Elie Saab as part of his Haute Couture Fall/Winter 2023-2024 collection show in Paris, France, July 5, 2023. REUTERS/Sarah MeyssonnierPARIS, July 5 (Reuters) - Elie Saab doubled down on capes for his autumn haute couture lineup presented in Paris on Wednesday, offering them in a variety of forms that added volume to silhouettes. In contrast were black dresses worn with hooded capes that swept the floor, including one covered in bright red roses. Following up on the introduction of menswear to his haute couture lineup a year ago, the Lebanese designer also included male models, outfitting them in regal, robe-like capes, black with elaborate gold embroidery. The Paris haute couture shows, which run through July 6, have drawn fashion press and celebrities to the French capital.

Persons: Elie Saab, Sarah Meyssonnier PARIS, Giorgio Armani Prive, Dior, Valentino, Thom Browne, Mimosa Spencer, Matthew Lewis Organizations: Haute Couture, REUTERS, Musee des Arts, Louvre Museum, Thomson Locations: Paris, France, Lebanese, shimmery

☆ Chanel takes haute couture to riverside for Paris show
▼ + stars: | 2023-07-04 | by ( Mimosa Spencer | ) www.reuters.com time to read: +1 min

[1/4] Designer Virginie Viard for Chanel on the banks of the River Seine in Paris. REUTERS/Sarah MeyssonnierPARIS, July 4 (Reuters) - Chanel creative director Virginie Viard chose a quai on the Right bank of the bustling Seine River for her fall haute couture catwalk show, a setting that added breeziness to a relaxed and elegant lineup. French model Caroline de Maigret opened the show, her brown hair worn loose over her shoulders, in a long tweed overcoat cinched at the waist and gold-tipped heels. Adding to the nonchalant spirit, one model was accompanied by a sleek, black labrador, while other models carried baskets of flowers. Reporting by Mimosa Spencer; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Virginie Viard, Chanel, Sarah Meyssonnier PARIS, strode, Caroline de Maigret, Elton John, France Gall, Donner, donner, Dior, Valentino, Thom Browne, Mimosa Spencer, David Holmes Organizations: REUTERS, Haute Couture, LVMH, Thomson Locations: Paris, labrador

☆ Giorgio Armani Prive showcases glittering haute couture lineup in Paris
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

[1/5] A model presents a creation by designer Giorgio Armani as part of his Haute Couture Fall/Winter 2023-2024 collection show for fashion house Giorgio Armani Prive in Paris, France, July 4, 2023. REUTERS/Sarah MeyssonnierPARIS, July 4 (Reuters) - Giorgio Armani layered on the shimmer and shine for his fall haute couture collection, sending sparkling pantsuits and ballgowns down a slick runway. The 88-year-old designer worked a sombre colour palette for the Giorgio Armani Prive lineup, mostly restricted to red, black and gold. The Italian designer closed the show with a crimson bridal dress, the sparkling white bodice covered in red flowers. Paris haute couture week, which includes shows from Chanel, Kering's Balenciaga and LVMH-owned Dior and Fendi, wraps up July 6.

Persons: Giorgio Armani, Giorgio Armani Prive, Sarah Meyssonnier PARIS, accenting, Sydney Sweeney, Noah Centineo, Emma Thompson, Chanel, Kering's, Dior, Mimosa Spencer, David Gregorio Our Organizations: Haute Couture, REUTERS, Thomson Locations: Paris, France, American, British

☆ Stephane Rolland's nod to Maria Callas at Paris Haute Couture show
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +1 min

[1/3] Models present creations by designer Stephane Rolland as part of his Haute Couture Fall/Winter 2023-2024 collection show at the Opera Garnier in Paris, France, July 4, 2023. REUTERS/Sarah MeyssonnierPARIS, July 4 (Reuters) - Stephane Rolland took to the Paris Opera house on Tuesday for his fall haute couture show honouring Maria Callas, offering a dramatic line-up of voluminous ball gowns. Models glided up the building's grand marble staircase in floor-sweeping dresses as the audience watched from the balcony above, while the voice of Callas echoed throughout. Long trains were offset by bare backs, and one dress was slashed across the middle to reveal the model's midriff. Paris Haute Couture week entered full swing on Tuesday with a show by Chanel, following Monday's kick-off with Schiaparelli and LVMH-owned Dior, as well as American fashion house Thom Browne.

Persons: Stephane Rolland, Opera Garnier, Sarah Meyssonnier PARIS, Maria Callas, Callas, Cuff, Celine Dion, Chanel, Thom Browne, Valentino, Kering, Mimosa Spencer, Susan Fenton Organizations: Haute Couture, Opera, REUTERS, Paris Opera, Las Vegas . Paris Haute Couture, Dior, Thomson Locations: Paris, France, French, Las Vegas . Paris

☆ The top 500 richest people in the world made an average of $14 million each day in the first half of 2023 as markets rallied
▼ + stars: | 2023-07-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The 500 richest people added $852 billion to their collective fortunes in the first half of this year, per Bloomberg. The billionaires' wealth was boosted on the back of a broad market rally. Now worth $237 billion, Musk is the world's richest person — ahead of Frenchman Bernard Arnault, the CEO, and co-founder of LVMH Moët Hennessy Louis Vuitton. Musk and Arnault have been swapping positions as the world's richest person since late 2022. Indian tycoon Gautam Adani's fortune tanked by $60.2 billion this year, making him the biggest loser in the Bloomberg Billionaires Index.

Persons: Tesla, Elon Musk, —, Mark Zuckerberg, Musk, Twitter —, Frenchman Bernard Arnault, LVMH Moët Hennessy Louis Vuitton, Zuckerberg, Gautam Adani's, Adani Organizations: Bloomberg, SpaceX, Service, Tech, Twitter, Hindenburg Research, Nasdaq

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