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BEIJING, Feb 7 (Reuters) - China's luxury market contracted 10% in 2022 on the year, snapping a five-year streak of high growth, as Beijing's zero-COVID policy and a slowing economy hit spending, Bain & Company said in a report on Tuesday. The luxury market grew 42% annually between 2019 and 2021 but its fortunes changed in 2022, after China doubled down on stamping out COVID-19 with city-wide lockdowns and a regulatory crackdown hit the property sector and fuelled unemployment. The figure compared to growth of 1% between 2012 and 2016, and a 26% increase in sales between 2016 and 2019, Bain said. Mirroring recent results from the likes of French luxury goods group LVMH (LVMH.PA) and Italy's Salvatore Ferragamo (SFER.MI) for 2022, Bain said all luxury categories were affected to varying degrees during the year. While categories with high online penetration, such as luxury beauty, suffered single-digit declines, the watch market fell the most, with sales dropping 20% to 25% from 2021.

☆ How a 27-Year-Old Designer Is Reviving Your Grandma’s Favorite Shoe Brand
▼ + stars: | 2023-02-06 | by ( Rory Satran | Photography Joshua Woods For Wsj. Magazine | ) www.wsj.com time to read: +1 min

“Honestly, it’s a huge machine,” Davis continues, referring to the company that Ferragamo launched in 1927. Ferragamo had six children with his wife, Wanda, a powerful matriarch who oversaw the company after her husband’s death in 1960. The Ferragamo family is still involved, owning about 65 percent of the publicly traded company’s shares, with the couple’s son Leonardo serving as chairman of the board. On that first day, Davis met his new assistant, who showed him around and introduced him to the different teams he’d be working with. “Obviously, I had trouble remembering everyone’s names because I think it’s 17 designers, but it was exciting,” he says.

☆ H&M highlights fast-fashion gloom as luxury takes hit in China
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +4 min

Shares in H&M, the world's No. 2 fashion retailer, fell as much as 6% in early trade after quarterly operating profit sank to 821 million Swedish crowns ($79.7 million) from 6.26 billion a year earlier. Zara has outperformed rivals after selling higher-priced garments and enticing shoppers who might have otherwise spent money at luxury stores. Disappointment over the impact of the China disruptions on its margins caused a record-breaking run in LVMH shares to briefly halt on Friday. The luxury industry is nevertheless expected to be one of the biggest winners from the loosening of restrictions that kept shoppers out of stores in China for months.

☆ European Luxury Shares Rise on Easing of Chinese Border Restrictions
▼ + stars: | 2022-12-27 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Chinese consumers are important for luxury-goods companies such as Hermès, LVMH and Gucci. PARIS—Shares in European luxury retailers rose Tuesday on investor hopes of renewed Chinese tourist spending after Beijing said it planned to ease pandemic-related border restrictions. Luxury goods giant LVMH Moët Hennessy Louis Vuitton SE advanced as much as 2.5% in Paris while Kering SA, owner of the Gucci and Saint Laurent brands, rose as much as 2.2% and Birkin-bag maker Hermès International SCA advanced more than 2%. In Milan, shares in Moncler SpA, Tod’s SpA and Salvatore Ferragamo SpA also rose.

☆ I styled Anna Sorokin while she was on house arrest. She was way funnier than her 'Inventing Anna' character, and her taste in fashion and art is incredible.
▼ + stars: | 2022-12-14 | by ( Eboni Boykin-Patterson | ) www.businessinsider.com time to read: +6 min

He styled Anna Sorokin for an interview from her home, where she is on house arrest. Anna Sorokin, or Anna Delvey, as she was known as in her scamming days, is different from the character on "Inventing Anna." At the time, I had watched only the first half of "Inventing Anna" — just bits and pieces here and there. When we got there, there was a whole glam team of makeup artists and hairstylists who got to work on Anna and Kenneth. Pop culture has the ability to make anyone into an entire brand, and Anna has pop culture's attention.

☆ Premarket stocks: Wall Street bonus outlook is grim
▼ + stars: | 2022-11-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN Business —Ferragamo belt-buckles are being tightened across Wall Street as bankers prepare for a gloomy bonus season. “This is a canary in the coalmine for the economy, if the canary dies that’s not good for anybody,” said Johnson. In recent years, Amazon has gradually been growing its footprint in the health care sector. Earlier this year, Amazon agreed to acquire One Medical, a membership-based primary care service, for $3.9 billion. The big picture: Amazon isn’t the only Big Tech company attempting to cash-in on a chunk of the health care industry.

☆ Family's exit from Ferragamo is "out of the question", chairman says
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 12 (Reuters) - The Ferragamo family does not plan to exit the eponymous luxury company as it is committed to further developing the brand worldwide, Chairman Leonardo Ferragamo told Reuters on Wednesday. Rumours of a possible stake sale by the family, which holds a 64% stake in the luxury company (SFER.MI), have been recurring every now and then, but have always been denied. Ferragamo added he hoped the China market could soon return to normal. In the second quarter, the Italian luxury group saw a slight slowdown of its business in China due to COVID-19 restrictions, though overall group sales in the first half of the year were still better than expected. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Giancarlo Navach, writing by Gianluca Semeraro, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

☆ Italy’s loafer king can afford to be more generous
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

MILAN, Sept 29 (Reuters Breakingviews) - Tod’s (TOD.MI) founder Diego Della Valle is seeking to delist his bling shoemaker on the cheap. The Italian tycoon on Monday launched a takeover bid at 40 euros a share for the company he controls with a 65% stake. Investor Tabor Asset Management believes that, taken separately, the Italian group’s brands warrant an offer of at least 76 euros a share. That would push the price tag to 60 euros a share, 50% above the current offer, Breakingviews calculations show. With so much hidden value to reap, Della Valle can probably afford to be a tad more generous.

☆ It’s a Witch! It’s a Pilgrim! It’s a Y2K Raver! Why Square-Toe Shoes Are Back in Style.
▼ + stars: | 2022-09-24 | by ( Faran Krentcil | ) www.wsj.com time to read: +1 min

Instead, she singles out a pair of square-toe shoes by French brand Courrèges. The digital-trend tracker Semrush notes a 2,500% jump in web searches for “square toed shoes for women” between July 2021 and July 2022. Meanwhile, the online shopping platform Lyst features over 24,500 square-toe women’s shoes including a faux-leather update of Ms. Cleveland’s Courrèges pair and other Judy Jetson-ish riffs from Dries Van Noten and Rupert Sanderson. The trend also points to ballet’s pointe shoes, which inspired recent versions by Sandy Liang, Mansur Gavriel and Khaite. Actress Selma Blair, meanwhile, says her square-toe loafers from Salvatore Ferragamo are “the grandma shoes that I love.” (She currently sports them with cuffed khakis in her new Gap campaign.)

☆ It’s a Witch! It’s a Pilgrim! It’s a Y2K Raver! Why Square-Toe Shoes Are Back in Style
▼ + stars: | 2022-09-23 | by ( Faran Krentcil | ) www.wsj.com time to read: +1 min

Instead, she singles out a pair of square-toe shoes by French brand Courrèges. The digital-trend tracker SEM Rush notes a 2,500% jump in web searches for “square toed shoes for women” between July 2021 and July 2022. Meanwhile, the online shopping platform Lyst features over 24,500 square-toe women’s shoes including a faux-leather update of Ms. Cleveland’s Courrèges pair and other Judy Jetson-ish riffs from Dries Van Noten and Rupert Sanderson. The trend also points to ballet’s pointe shoes, which inspired recent versions by Sandy Liang, Mansur Gavriel and Khaite. Actress Selma Blair, meanwhile, says her square-toe loafers from Salvatore Ferragamo are “the grandma shoes that I love.” (She currently sports them with cuffed khakis in her new Gap campaign.)

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