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☆ CNBC Daily Open: Inflation’s hot, but so are markets this year
▼ + stars: | 2024-12-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The pan-European Stoxx 600 saw a 0.14% decline amid a rate cut by the region's central bank. U.S. producer prices still hotU.S. producer prices rose 0.4% in November, higher than the Dow Jones consensus estimate of 0.2%. The hotter-than-anticipated increase in producer prices comes after headline consumer prices rose at a sharper annual rate in November compared with the prior month.

Persons: Cucinelli, Dow Jones, Tom Lee, Lee, — Organizations: CNBC, PPI, Reserve Bank of, European Central Bank Locations: New Bedford, India, Reserve Bank of India

☆ LVMH had a rough week. That's a bad sign for the luxury sector.
▼ + stars: | 2024-10-19 | by ( Madeline Berg | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . LVMH, the largest of the luxury conglomerates, announced its third-quarter earnings this week, and the results were grim. AdvertisementWhile personal luxury sales in China grew by more than 37% each year from 2019 through 2021, that annual growth is not expected to hit more than 4.2% through 2028, according to EMARKETER data. AdvertisementEMARKETER's Canaves pointed to the collaborations and moves toward streetwear that helped some brands emerge from the last luxury slump. Of course, any expansion into new categories should not take attention from handbags and clothing, the revenue drivers of luxury brands.

Persons: LVMH, —, Louis Vuitton, Salvatore Ferragamo, Goldman Sachs, Gucci, Hermès, Jean, Jacques Guiony, Adam Cochrane, Chanel, Canaves, Guiony, Birkin, Deutsche Bank's Cochrane, Cartier, Brunello Cucinelli, Rambourg, Louis Organizations: Service, Revenue, Louis, Burberry, Business, Deutsche Bank, Gucci, Deutsche Bank's, Chez Locations: China, Asia, Japan, COVID, streetwear, Paris

☆ Saks Fifth Avenue in San Francisco will require all shoppers make an appointment. The controversial move could solve a major headache.
▼ + stars: | 2024-07-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Read previewSaks Fifth Avenue shoppers visiting the brand's San Francisco store may need something they previously haven't: a reservation. AdvertisementThese appointment-only stores also require fewer staff, and the San Francisco Chronicle reported that the company will lay off an unspecified number of workers. Just as Union Square is a major center of retail in San Francisco, it has also been a statistical epicenter of retail crime. Advertisement"This move is essentially about Saks trying to make the San Francisco store work better," Saunders told BI. The San Francisco Standard spoke with several shoppers in the area who expressed disappointment at Saks becoming less accessible to regular people.

Persons: —, Larry Bruce, Neiman Marcus, Amanda Lai, McMillanDoolittle, Neil Saunders, Saunders, Breitling, Lange, Söhne, Patek Philippe, Emily Stewart Organizations: Service, Saks, Business, Gucci, San Francisco Chronicle, Nordstrom, Rolex, San Francisco Locations: San Francisco, Napa, Palo Alto, Las Vegas, L.A, New York, Union, Switzerland

☆ Guys in tech, finance, and other white-collar jobs are paying stylists thousands of dollars to dress them
▼ + stars: | 2024-02-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

These stylists charge thousands to help workers balance professional and casual styles. So white-collar workers in tech, law, and finance are turning to professional stylists to help them navigate their sartorial confusion. And they’re willing to shell out thousands of dollars to nail the right balance of cool and professional. Those hiring a professional stylist should be prepared to swap their $50 shirts for ones closer to the $250 range, Michelle Sterling, a professional image consultant previously told Business Insider. AdvertisementFinding the right style for your corporate jobSome white-collar stylists start by assessing their clients’ personalities before they start dressing them.

Persons: —, Michelle Sterling, Brunello Cucinelli, Sterling, Peter Nguyen, Cassandra Sethi, Nate Dudek —, Ted Baker, Jacci Jaye, Jaye, Sylvie di Giusto Organizations: Service, Wall Street Journal, Consulting Locations: New York, Patagonia

☆ Meet the Man Behind Litquidity, the Anonymous Instagram Account Dominating Wall Street
▼ + stars: | 2024-02-07 | by ( Reed Alexander | Hayley Cuccinello | ) www.businessinsider.com time to read: +26 min

The deck kicked off a game of one-upmanship among Wall Street banks trying to keep their employees happy. Lit capitalized on poking fun at Wall Street culture, selling $35 dad hats that read, "Do You Know Who My Father Is?" There have, of course, been endless rumors about Lit's identity, especially among Wall Street underlings. Wall Street underlings have speculated about Litquidity's identity for years. Basak, one attendee said, wanted to take a "wrecking ball through it all" and hold Wall Street heavy hitters accountable.

Persons: Goldman Sachs, I've, David Solomon, Litquidity, Goldman, Solomon, Evercore, Michael Kovac, Lit, Warburg Pincus, Jamie Dimon, Jamie Dimon's, Banksy, Bennett Jordan, who've, Lit's, — Mark Moran, —, Jefferies, Richard Handler, Spencer Platt, Isaac Laifer, Laifer, Handler, We'd, Henry, Hank, Medina, He's, he's, Jefferies Medina, Bart P, Fuchs, Karl Smith, Mark Moran, Moran, Bloomberg he'd, Zack DeZon, Getty Images Moran, Brian Hanly, Hanly, Sonali Basak, Angela Weiss, cryptocurrency, we'll, Mark, Medina's, weren't, CoinFLEX, Litquidity doesn't, Dave Portnoy, wasn't, Medina Ayden Syal, Kyle Zappitell, Zappitell, he'd, hasn't, Bennett Jordan —, Craig Sjodin, Litney, Paul Argenti, Wall Organizations: Goldman, New York Times, CNBC, Business, Bloomberg, Metropolitan Club of New, Nomura, Citigroup, Financial Times, Litney Partners, Whitney Partners, BI, ESPN, Litquidity, Centerview Partners, New York, Getty, Bain Capital, Litquidity Venture Partners, SEC, Cornell University, Wexford Capital —, Deutsche Bank, Deutsche, CFA, Getty Images, Bullish, Vice, Wall Street, Litquidity's, Manhattan's Rue, Fox Business, Litquidity Ventures, Coatue Management, SAFE, Soho House, Dartmouth University Locations: New York, Tribeca, Metropolitan Club of New York, Instagram, San Francisco, Medina, New York City, Miami, NoHo, Chad, Connecticut, Litquidity, Linktree, Soho

☆ How 'quiet luxury' is subtly taking over investor portfolios
▼ + stars: | 2024-01-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

So what is "quiet luxury"? Quiet Luxury's outperformance over Loud Luxury in 2023. "Hence, in 2023, quiet luxury companies notably outperformed their loud peers by 23% points. According to DBS, a company fall under its categorization of "quiet luxury" if it's understated and focused on high quality, while maintaining exclusivity and scarcity. Loud luxury not in vogue

Persons: Karin Teigl, Kelly, Baum, Jeremy Moeller, Miu Miu, Brunello, Hou Wey Fook, Hermes, LVMH Moët Hennessy Louis Vuitton, Markus Hansen, Hansen, Goldman Sachs, — Organizations: Getty, DBS Bank, Financière Richemont, Swatch Group, DBS, Richemont, Swatch, CNBC, U.S Locations: VIENNA, AUSTRIA, Asia, South Korea, Japan, India

☆ Milan Fashion Week: This is what men will be wearing next fall
▼ + stars: | 2024-01-17 | by ( Scarlett Conlon | ) edition.cnn.com time to read: +7 min

This yellow coat and matching hat channeled fisherman chic at SS Daley. Giovanni Giannoni/WWD/Getty ImagesA seafaring element was evident in the collection at Emporio Armani too. To complement the sleek lines of suits came long coats in fine wool and leather that were part “Bladerunner,” part “Matrix” and part ode to the 1990s. The brooch is back, pinned to lapels at S.S. Daley, Magliano, Emporio Armani and Dolce & Gabbana. Functional, useful and classic, as above at Emporio Armani, were the key themes of the season in Milan.

Persons: Milan, Miuccia Prada, Raf Simons, Simons, officewear, Victor Virgile, ”, Daley, Giovanni Giannoni, Emporio Armani, Steven Stokey Daley, Harry Styles, Silvia Venturini Fendi, Anne, Britain's Princess Anne, Alessandro Levati, ” Fendi, Princess Royal, “, chunky knitwear, Neil Barrett, British Harris, Brunello, —, JW Anderson, Justin Shin, tailcoats, Stefano Gabbana, Domenico Dolce, Gabbana, Stefania D'Alessandro, Sabato de Sarno, Tom Ford, Sabato de, Gucci, Daniele Venturelli, de Sarno, Magliano, Massimo Giorgetti, Franco Albini, Gabanna, Armani Organizations: Milan CNN, Prada, CNN, Balmoral, Gabbana, Gucci, Dolce, Milan Metro, diamante Locations: Milan, British, Florence, Wellington, S.S, Saltburn, Italy

☆ Gap's new CEO thinks he can make Banana Republic a 'quiet luxury' destination
▼ + stars: | 2023-11-17 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

He wants to turn Banana Republic into a quiet luxury brand. AdvertisementGap's new CEO wants to transform its Banana Republic brand into the next destination for quiet luxury. Dickson's plan to reverse this downward trend includes turning Banana Republic into a quiet luxury brand by elevating its aesthetic and product offerings. "We think Banana Republic has an opportunity to thrive in the quiet luxury space," Dickson said. Quiet luxury clothing and accessories are devoid of logos or prominent branding and typically come in neutral or muted colors.

Persons: Richard Dickson, —, Dickson, Loro Piana Organizations: Service, Republic, Mattel, Navy, Inc, Banana Republic Locations: Banana, Banana Republic

☆ These luxury stocks won't lose their luster even as sales growth slows to pre-pandemic levels
▼ + stars: | 2023-11-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +13 min

After three years of record growth, luxury companies are feeling the pain as sales slow to a more normal pace. Nowhere have the struggles of the luxury sector been more prominent than in the French conglomerate LVMH Moet Hennessy Louis Vuitton , the group's bellwether. This dynamic tends to hurt the less-prestigious luxury brands more, according to Rogerio Fujimori, an analyst at Stifel. "Chinese [consumers] are back to Southeast Asia and Japan, but there's still a long way to go in terms of Europe. LVMH and other European luxury brands have been market leaders among European equities since 2021 until the first half of 2023.

Persons: Richemont, Burkhart Grund, LVMH Moet Hennessy Louis Vuitton, Gucci, Ashley Wallace, Bernstein, Luca Sola, Rogerio Fujimori, Fujimori, Wallace, Stifel's Fujimori, there's, Richemont's Grund, —, Fujimori foresees, we've, Hermes, Brunello, Thomas Chauvet, Louis Vuitton, Brunello Cucinelli, LVMH, Dior, Markus Hansen, Hansen, America's Wallace, It's, Vontobel's Hansen, — CNBC's Michael Bloom Organizations: Cartier, Bank of America, U.S, U.S ., EU, Europe, Citi, Bank, Gucci, Bottega Locations: U.S, Europe, Japan, China, Southeast Asia, China's, Thursday's, Kering

☆ I'm a stylist who dresses tech workers, executives, and surgeons. Here's how to get the quiet luxury look.
▼ + stars: | 2023-11-08 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementIn her 20 years as a corporate image consultant, Michelle Sterling has styled surgeons, tech workers, executives, investment bankers, and young, aspiring executives. I wanted a more chill life so I went to San Francisco and started working for Emporio Armani again. There weren't that many stylists around, so I was serving San Francisco, New York, Chicago, Miami, Texas, Los Angeles, and Washington, DC. The client came from the Midwest to San Francisco to see me. In San Francisco, you could be wearing an $800 t-shirt and it just looks like something that's $50 or $30.

Persons: Michelle Sterling, —, Emporio Armani, Sterling, he'd, I've, it's, Brunello Cucinelli Organizations: Service, Global, Group, Sterling Style Academy, Express, Armani Exchange, Wellesley College, San, San Francisco Opera, Cartier, Midwest, Porsche, Ferrari Locations: Boston, New York, San Francisco, San Francisco , New York, Chicago, Miami , Texas, Los Angeles, Washington, Beverly Hills, California, Silicon

☆ Nvidia CEO's signature leather jackets are so popular that websites are selling lookalikes using his name and photo
▼ + stars: | 2023-09-29 | by ( Haley Tenore | ) www.businessinsider.com time to read: +4 min

Black leather jackets are a well-known staple in Nvidia CEO Jensen Huang's wardrobe. Online sellers are using his name and image in listings for lookalike leather jackets. AdvertisementAdvertisementNvidia CEO Jensen Huang is known for his signature black leather jackets — he's rarely seen in public without one. A Wilson Jackets product page titled "Jensen Huang Nvidia CEO Leather Jacket" offers faux and real leather lookalikes. AdvertisementAdvertisementA screenshot of a black leather jacket from Theory.

Persons: Jensen, Steve Jobs, Mark Zuckerberg, Huang, —, Jensen Huang, hoover, Huang isn't, Issey Miyake, Walter Isaacson's, Jobs, Zuckerberg, isn't, Joseph Rosenfeld, Tom Ford, Rosenfeld Organizations: Nvidia, Service, Google, Bloomberg, Wilson Jackets, Apple, Walmart, Meta's Connect, New York Times, Times Locations: Taiwan

☆ ‘Don’t Erase Yourself.’ What Power Dressing Means for Women in 2023
▼ + stars: | 2023-09-16 | by ( Katharine K. Zarrella | ) www.wsj.com time to read: 1 min

OVER THE COURSE of her career, Martha Stewart, the self-made mogul and pop-culture phenomenon, has seldom considered the concept of power dressing. “It has never fit into my lifestyle,” said Stewart, 82, who worked on Wall Street before founding her Martha Stewart Living empire. “I’m probably more casually dressed than most women executives. I never felt I had to dress to show off for men. “It looked good, I felt great.

Persons: Martha Stewart, ”, Stewart, “ I’m, I’ve, ’, — Locations: Hermès, New York

☆ Brunello Cucinelli, the $2,000 cashmere sweater-selling master of 'stealth wealth' fashion, is booming as the 'loud luxury' trend wanes
▼ + stars: | 2023-08-30 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Brunello Cucinelli, the poster child of the "quiet luxury" movement, is booming. "Quiet luxury" has been dominating the fashion world and shows no signs of losing steam. It's about quiet luxury. AdvertisementAdvertisementQuiet luxury or "stealth wealth" has been a leading movement, and trend, in fashion this year. In China, quiet luxury has taken on new meaning, experts say, to become a status symbol for the ultra-rich.

Persons: Brunello Cucinelli, Tom Ford, Lorna Hall, Amrita Banta Organizations: Service, Research, Strategy Locations: Wall, Silicon, Brunello, China

☆ The strange, improbable rise of Mark Zuckerberg 3.0
▼ + stars: | 2023-07-30 | by ( Kali Hays | ) www.businessinsider.com time to read: +27 min

In early July, Mark Zuckerberg unveiled the latest and perhaps most consequential product in Meta's history: a new model of Mark Zuckerberg. Silicon Valley Zuck was a husband and father with a legacy to build and protect at all costs. Silicon Valley Zuck was suddenly faced with something he'd never dealt with before, shrinking revenue. Still clinging to his persona as Silicon Valley Zuck, Zuckerberg engaged in an all-out media blitz to hawk his vision for the metaverse. They were the sort of people Harvard Zuck would have scoffed at and Silicon Valley Zuck would have gently ignored.

Persons: Mark Zuckerberg, Elon Musk, Joe Rogan, Zuckerberg, Clark Kent, TikTok, Sheryl Sandberg, Mike Schroepfer, Wall, McKinsey Zuck, Rogan, Meta, Harvard Zuck, —, Priscilla Chan, Ray's, pullover, Harvard Zuck —, Dianna, Mick, McDougall, Paul Sakuma, Zuckerberg's, Apple, Facebook, he'd, That's, Frances Haugen, Chris Cox, Zuck, Zach Gibson, Meta's, Sandberg, Marne Levine, who'd, Javier Olivan, he's, bode, Bain, Maher Saba, Lori Goler, He's, He'd, Katie Harbath, it's, Andrew Bosworth, Bosworth, Mark Zuckerberg McKinsey Zuck, Mark Shmulik, Bernstein, Augustus, Julius Caesar, Kali Hays Organizations: Meta, Menlo, Harvard, Apple, McKinsey, Business, Facebook, Cambridge, Capitol, Labs, Menlo Park, Q, Bain & Company, Reality Labs, Wall, Mark Zuckerberg McKinsey, Phillips Exeter Academy, Tech, Twitter Locations: California, Hawaii, United States, Davos, Silicon, contrition, Meta, verbiage, Harvard, Rome

☆ 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

☆ Luxury stocks are on a tear and now there's an index to follow the 1%
▼ + stars: | 2023-04-20 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Luxury stocks are on a tear, and they are pulling away from the other 99% of the world. Birinyi Associates sees an opportunity. LVMH is the largest luxury firm in the world. Rubin and Birinyi have created two new indexes to monitor all this money: the "1% Index" that consists of 16 luxury stocks, and the "99% Index" made up of 18 stocks that is, well, where the rest of us shops. Since the beginning of April, the 99% is making a comeback: The 1% vs. the 99% (since April 1) 1% index: + 3% 99% index: + 12% Source: Birinyi Associates What's happening?

☆ 'Quiet luxury' is back for the first time since the Great Recession. Here's what it is and what brands stand to benefit.
▼ + stars: | 2023-04-16 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

The quiet luxury trend is dominating 2023 after years of trends like "dopamine dressing." David Russell/HBOLike most other fashion trends, the move toward quiet luxury, or "stealth wealth," is part of a cycle. Liz Hafalia/The San Francisco Chronicle via Getty ImagesAt this point, quiet luxury has become so popular that even luxury brands themselves are being asked about it. She also highlighted Italian luxury house Brunello Cucinelli, French leather goods firm Hermès, and Armani, who has been doing quiet luxury for nearly two decades. If that's a bit outside your budget, there are mass-market retailers partaking in what the quiet luxury trend is promoting: durable, sustainably made clothing in timeless fabrics and silhouettes.

The sportswear staple known for its crisp collar and clean cut, has been revamped in ways that boggle the mind and energize the wardrobe. Witness the bounty of surreal white shirts in the resort 2023 collection from New York brand the Row, including the version shown at left, which would be standard if not for its detachable, puffy white shawl. “That was my Catholic school uniform!” said Megan Bugey, 46, an Austin, Texas, paralegal, of the shirt’s standard form. “But now, it’s trippy.”This season has seen an abundance of white collared shirts—and they’re anything but uniform. “I love the utility [button-up shirts] have in my wardrobe,” said New York stylist Pamela Shepard, 39, who owns “countless” iterations, including oversize and dip-dyed riffs from Ralph Lauren and J.Crew.

☆ Italy's Cucinelli and EssilorLuxottica sign eyewear license accord
▼ + stars: | 2022-11-21 | by ( Gabriel Araujo | ) www.reuters.com time to read: +1 min

[1/2] Glasses manufactured by EssilorLuxottica, stand on display in their exhibition space at SILMO in Villepinte, near Paris, France September 24, 2022. REUTERS/Benoit TessierMILAN, Nov 21 (Reuters) - Brunello Cucinelli (BCU.MI) signed an exclusive license deal with French-Italian glasses maker EssilorLuxottica (ESLX.PA) for the design, manufacture and distribution of eyewear under the Italian luxury group's brand, the two companies said in a statement on Monday. The new ten-year agreement will be effective from next January, while the first collection of glasses will be launched in the first quarter of 2024. The deal is an extension of the current collaboration between the two firms that began in 2021, including a capsule collection signed by Brunello Cucinelli and EssilorLuxottica's exclusive brand Oliver Peoples, they added. Reporting by Cristina Carlevaro editing by Federico MaccioniOur Standards: The Thomson Reuters Trust Principles.

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