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☆ Is Tom Ford Saying Farewell to Fashion With His Surprise ‘Final Collection’?
▼ + stars: | 2023-04-26 | by ( Vanessa Friedman | ) www.nytimes.com time to read: +1 min

On Wednesday, he dropped a surprise “final collection” (according to a news release) in the form of three short videos by the photographer Steven Klein. The videos came unaccompanied by any statement, and Mr. Ford declined requests for comment. Neither Estée Lauder nor Zegna, which has the license for Tom Ford fashion, could be reached for comment. Still, the collection answered the question that had been hanging over the brand since its sale in November: Would Mr. Ford stay or go? Rumor has it that Peter Hawkings, Mr. Ford’s longtime men’s wear designer, is getting the job.

☆ Europe is the place to invest so far in 2023. Here's why
▼ + stars: | 2023-04-24 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

U.S. stocks are off to a good start in 2023, with the S & P 500 up 7%, but Europe is just killing it. All the major European ETFs are up 15%-20% for the year and were at new highs last week. From makeup to sneakers to steel to pharmaceuticals and software to cars for the masses, Europe is outperforming. European stocks this year L'Oreal up 38% Adidas up 33% Thyssenkrup up 32% Bayer up 30% SAP up 29% Stellantis up 25% There's are several other reasons Europe is outperforming. That is historically a very low P/E ratio for Europe, in the 4th percentile (low) relative to the STOXX Europe 600 over the last 15 years.

☆ Luxury goods giant LVMH becomes the first European company to surpass $500 billion in market value
▼ + stars: | 2023-04-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

A pedestrian carries a Louis Vuitton shopping bag, from a store operated by LVMH Moet Hennessy Louis Vuitton SE, on New Bond Street in London, U.K., on Wednesday, Oct. 21, 2020. Luxury goods giant LVMH on Monday became the first European company to surpass $500 billion in market value. Its shares hit a record high following the results, and hit another high on Monday. It reported revenue of 79.2 billion euros ($87.1 billion) for 2022, with profit from recurring operations of 21.1 billion euros — its second consecutive year of record results. In 2021, LVMH completed the acquisition of U.S. jeweler Tiffany & Co for $15.8 billion.

☆ French police working with EU on luxury antitrust probe
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

LONDON, April 21 (Reuters) - French police are involved in an ongoing investigation relating to a probe by EU antitrust regulators into possible violations by European luxury companies, a police spokesperson said on Friday. The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector in multiple EU countries, but did not name the companies involved or specify the potential breaches it was investigating. Reuters reported on Wednesday that the Milan headquarters of Gucci, owned by Kering (PRTP.PA), had been inspected by Italian tax police and EU antitrust officials as part of the probe. Kering confirmed the inspection and said it was fully cooperating with the European Commission. Asked by Reuters if French companies had also been targeted by the EU inspections, which would be conducted in cooperation with local authorities, a police spokesperson said: "We're in an ongoing investigation", declining to elaborate.

☆ Gucci Offices Raided by Antitrust Authorities in Europe
▼ + stars: | 2023-04-20 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Raids by the European Commission are part of growing antitrust scrutiny in Europe of one of the continent’s most valuable sectors, fashion. Photo: Alessia Pierdomenico/Bloomberg NewsEuropean antitrust authorities raided the Italian offices of the Gucci fashion house this week, part of a probe the company said was focused on potential anticompetitive behavior in the fashion sector. Gucci owner Kering SA disclosed the search late Wednesday after the European Commission said earlier in the week that it had conducted unannounced inspections at several fashion companies. The commission said it was probing whether the companies had violated rules that “prohibit cartels and restrictive business practices.”

☆ Gucci Offices Raided By Antitrust Authorities in Europe
▼ + stars: | 2023-04-20 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

PARIS, April 20 (Reuters) - Europe's flourishing luxury goods industry was under scrutiny on Thursday after European Union antitrust regulators inspected Gucci's Milan headquarters this week as part of an investigation spanning several countries and companies. Reuters reported on Wednesday that as part of the probe EU antitrust regulators were inspecting a facility of luxury goods company Gucci in Milan, one of the fashion capitals of the world. The inspection of the Gucci site was aimed at possible violations of the European Union's Article 101, according to a source with direct knowledge of the matter. The article prohibits agreements that restrict, prevent or distort competition within the EU and which have an effect on trade between EU member states. Kering (PRTP.PA), the French-listed owner of Gucci, late on Wednesday confirmed the inspection, adding that it was cooperating fully with the European Commission investigation into the industry.

☆ Luxury industry under scrutiny as EU targets Gucci and others
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

PARIS, April 20 (Reuters) - Europe's flourishing luxury goods industry was under scrutiny on Thursday after European Union antitrust regulators started inspecting a Gucci facility in Milan as part of an investigation spanning several countries. The article prohibits agreements that restrict, prevent or distort competition within the EU and which have an effect on trade between EU member states. Kering (PRTP.PA), the French-listed owner of Gucci, late on Wednesday confirmed a Reuters report on the inspection, adding that it was cooperating fully with the European Commission investigation into the industry. Companies found guilty of breaking EU rules face fines of as much as 10% of their global turnover. The Commission said on Tuesday that the latest action was not related to other raids involving the fashion industry in the past two years.

☆ 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?

Gucci is part of French luxury goods group Kering (PRTP.PA). The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector in several EU countries. The Commission, which acts as the competition enforcer in the 27-country EU, did not name the companies or the countries, in line with its policy. The European Commission declined to comment on Wednesday. Companies found guilty of breaching EU rules face fines of as much as 10% of their global turnover.

MILAN/BRUSSELS, April 19 (Reuters) - EU antitrust regulators and Italian tax police inspected a facility of luxury goods company Gucci as part of a European Union investigation spanning several countries and companies, two sources with knowledge of the matter said on Wednesday. Gucci is part of French luxury goods group Kering (PRTP.PA). The second source said other fashion companies outside the Kering group had been targeted by similar inspections. The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector in several EU countries. The European Commission declined to comment on Wednesday.

☆ Analysis: LVMH's caution points to Americans' waning lust for luxury
▼ + stars: | 2023-04-13 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

[1/2] A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. European labels including LVMH's Louis Vuitton and Dior, as well as Chanel and Hermes have been riding a wave of strong demand from Americans, who emerged from lockdowns with savings and a desire to splash out on designer labels. He added the group is taking a cautious approach to price increases this year -- not just for cognac. "It's probably the most emblematic luxury store in the world," said Guiony. Elliott Savage, portfolio manager of U.S.-based fund YCG Investments, which holds shares in LVMH and other luxury brands, said a weakening U.S. luxury market in the near term could present an opportunity for dominant players to take market share.

☆ Nike to drop use of kangaroo skins for its shoes in 2023
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

March 14 (Reuters) - Nike said it will stop using kangaroo skins for its shoes this year, weeks after a similar step from German rival Puma, which would end a highly controversial practice that has drawn ire from consumers and animal rights activists. Sportswear giant Nike Inc (NKE.N) in a statement issued on Monday said it would debut a new line of Tiempo football boots, called the Tiempo Legend Elite, with a proprietary synthetic material that replaces the use of kangaroo leather. The Tiempo Premier line of football boots, which is set to launch this summer, will also forego kangaroo skin, Nike said. The decision from Nike and Puma (PUMG.DE) to end the use of kangaroo skin in their football boots comes as a big win for animal welfare activists, who have for long urged companies to drop unethical practices involving animal cruelty. The group has spearheaded the "Kangaroos Are Not Shoes" campaign, which it announced in 2020, and has been key behind introducing legislation banning the import and sale of kangaroo products.

☆ Chanel takes glittering, camellia-themed line-up to Paris catwalk
▼ + stars: | 2023-03-07 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

[1/2] A model presents a creation by designer Virginie Viard, as part of her Fall-Winter 2023/2024 Women's ready-to-wear collection show, for fashion house Chanel during Paris Fashion Week, in Paris, France March 7, 2023. The entire set was built around towering, white camellia sculptures that faced the audience, seated in steep risers ringing the space, a sprawling exhibition hall south of the Eiffel Tower. Most looks were black and white, paraded by models striding on shiny black platform boots, often with patterned white tights. For the finale, the massive camellia sculptures suddenly glowed red, and slowly shifted between red and a bright pink as models rounded the room. The catwalk presentation was held on the final day of Paris Fashion Week, which drew crowds of celebrities to the French capital, and featured big-name labels including Hermes, Valentino, LVMH-owned (LVMH.PA) Dior and Louis Vuitton, Kering-owned (PRTP.PA) labels Saint Laurent and Balenciaga.

"Most luxury retailers don't think Hong Kong will return to the dizzy levels of 2014 when the market here peaked," said Simon Smith, Savills' senior director of research and consultancy in Hong Kong. Morgan Stanley (MS.N) forecast Hong Kong visitor numbers this year will reach just 70% of 2018 arrivals. It estimates retail sales will grow 15%, holding at around 80% of retail trade from the pre-COVID year. That outstripped total Hong Kong retail sales from a peak hit in 2013 at HK$494.5 billion ($63.0 billion), according to the city's statistics department. ($1 = 6.8510 yuan)($1 = 7.8498 Hong Kong dollars)Reporting by Farah Master, Jessie Pang, Anne Marie Roantree, Angel Woo and Donny Kwok in Hong Kong, Sophie Yu in Beijing, and Mimosa Spencer in Paris; Writing by Miyoung Kim; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ LVMH rejigs beauty division, names Stephane Rinderknech CEO
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

PARIS, March 6 (Reuters) - LVMH (LVMH.PA), the world's largest luxury company, on Monday named Stephane Rinderknech as chairman and CEO of its beauty division, rounding out a series of broader management changes at the owner of Guerlain and Parfums Christian Dior. Rinderknech will take up global responsibility for the group's beauty business, while Guerlain head Veronique Courtois becomes president and CEO of Parfums Christian Dior. Make Up For Ever head Gabrielle Saint-Genis Rodriguez will be president and CEO of Guerlain. The changes come as luxury groups, which have been riding a strong wave of post-pandemic demand for designer labels, look to expand in their beauty activities. As part of that process, the group in January folded Tiffany into the watches and jewellery division, under the management of Stephane Bianchi.

☆ Louis Vuitton shows playful, French styles at Musee d'Orsay in Paris
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

[1/5] A model presents a creation by designer Nicolas Ghesquiere as part of his Fall-Winter 2023/2024 Women's ready-to-wear collection show for fashion house Louis Vuitton during Paris Fashion Week in Paris, France, March 6, 2023. REUTERS/Benoit TessierPARIS, March 6 (Reuters) - Louis Vuitton (LVMH.PA) took to the Musee d'Orsay for its fall-winter catwalk show on Monday, sending a modern lineup of playful, sculptural looks down a slick, black runway designed to evoke a Paris street. Handbags were varied, including one fashioned to look like a typical blue Paris street sign, trimmed in green - with "Louis Vuitton" stamped in white letters. Paris Fashion Week, which features big-name fashion labels including LVMH-owned Dior, Kering SA-owned (PRTP.PA) Saint Laurent, Valentino and Chanel, winds up on Tuesday. Reporting by Mimosa Spencer in Paris Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Balenciaga spotlights craft at first runway show since ad controversy
▼ + stars: | 2023-03-05 | by ( Mimosa Spencer | ) www.reuters.com time to read: +1 min

PARIS, March 5 (Reuters) - French luxury group Kering's fashion house Balenciaga shifted the focus to fashion construction Sunday for its first catwalk show since a backlash from an advertising campaign last year. The label, which was criticised for a campaign featuring imagery of children, showed a lineup of distinctive tailoring, body-hugging silhouettes with hulking shoulders and full-length, glittering evening wear on a white-carpeted runway in Paris. "Being able to make this happen was a challenge that I knew I had to face," Balenciaga designer Demna Gvasalia, known as Demna, told journalists backstage after the show. "I wanted exactly to make it to be able to move on and do what I do best, which is making clothes," he said. The designer and Kering executives have apologized for an advertising campaign that drew criticism for featuring imagery of children that many considered inappropriate.

☆ Giambattista Valli fills fall runway show with tweeds at Paris Fashion Week
▼ + stars: | 2023-03-03 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

[1/5] A model presents a creation by designer Giambattista Valli as part of his Fall-Winter 2023/2024 Women's ready-to-wear collection show during Paris Fashion Week in Paris, France, March 3, 2023. REUTERS/Sarah MeyssonnierPARIS, March 3 (Reuters) - Giambattista Valli switched things up for his fall runway show at Paris Fashion Week, taking a step back from his signature, airy floral styles to focus on tweeds, which he also offered for men. The show opened with a black, sleeveless jumpsuit cinched at the waist with a gold belt, and worn over a white t-shirt. Further shaking the fabric from its traditional twin-set role, Valli worked the material into long overcoats, loose jackets, mini-dresses and a bright, red jumpsuit. Popular with the red carpet set, and known for voluminous, tulle dresses, Valli broadened his fan base with a collaboration with H&M in 2019.

☆ Saint Laurent hits Paris catwalk with broad-shouldered glamour
▼ + stars: | 2023-03-01 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

[1/5] A model presents a creation by designer Anthony Vaccarello as part of his Fall-Winter 2023/2024 Women's ready-to-wear collection show for fashion house Saint Laurent during Paris Fashion Week in Paris, France, February 28, 2023. REUTERS/Sarah MeyssonnierPARIS, Feb 28 (Reuters) - Saint Laurent designer Anthony Vaccarello drew his Paris Fashion Week audience into a dark, chandelier-lined runway Tuesday night, sending out a sensual lineup of night-club-ready eveningwear derived from office classics—blazers, pinstripes and pencil skirts. The show opened with a series of sharp-shouldered suit jackets – extra wide, double-breasted – worn over skimpy silk tops and slender, knee-skimming skirts. The temporary venue was set in the label’s traditional spot facing the Eiffel Tower, which glittered as the last guests streamed out after the show. ($1 = 0.9455 euros)Reporting by Mimosa Spencer; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: European stocks lure global investors as rate hikes hurt U.S. more
▼ + stars: | 2023-02-27 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +4 min

Banks (.SX7P) accounted for nearly 16% of the STOXX 600 index (.STOXX) and have benefited from the high-rate environment, gaining nearly 20% to hit their highest in almost five years. In contrast, 35% of the S&P 500 (.SPX), the world's largest index by market value, are technology companies. Tech stocks (.SPLRCT) on the index have gained just 9% this year as rising rates make future profits for tech companies less valuable. CHEAPER IN EUROPEOn the valuation front too, the European stock market is much cheaper than the U.S. The STOXX 600 trades at about 13 times its 12-month forward price-to-earnings ratio, while the S&P 500 trades at some 18 times.

☆ Milan Fashion: Gucci revisits past to pave new way, sober looks at Tod's
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +3 min

[1/2] A model presents a creation from the Gucci Fall/Winter 2023/2024 collection during Fashion Week in Milan, Italy, February 24, 2023. One model wore a crumpled shirt tucked into a miniskirt, others were dressed in coats with voluminous shoulders. At Tod's (TOD.MI), creative director Walter Chiapponi offered a sober collection in earthy tones that played with tailoring. Models wore pea coats as well as long oversized coats, and also appeared in parkas and cropped aviator and elongated bomber jackets. Reporting by Marie-Louise Gumuchian in London and Elisa Anzolin in Milan Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Gucci Launches Sustainability Drive as European Fashion Regulation Looms
▼ + stars: | 2023-02-22 | by ( Joshua Kirby | ) www.wsj.com time to read: +6 min

It will boost transformation in the Italian fashion industry’s production models, said Gucci in a joint release with French parent Kering. “Luxury brands generally have strong and transparent supply chains and an opportunity to better communicate sourcing quality,” they said. “Luxury brands have the burden to stand for our better selves, as they embody people’s aspirations and ideals,” Mr. Solca said. In 2018, U.K. luxury fashion house Burberry said it would stop burning unsold inventory amid pressure from environmental groups, but some peers continue the practice. The hub’s activities will later be extended to Kering’s other brands, before opening to the wider fashion sector.

☆ A luxury buying spree is sending shares of companies like Gucci owner Kering and Hermes soaring
▼ + stars: | 2023-02-16 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Shares of Kering and Hermes are up 17% and 23% year-to-date, partly on optimism around China's reopeningShares of LVMH hit an all-time high of $176.13 earlier this month. Kering, Hermes, and LVMH helped lead the French CAC 40 to a record high on Thursday. Shares of LVMH Moët Hennessy Louis Vuitton, commonly known as LVMH, hit an all-time high of $176.13 earlier this month. Kering, Hermes, and LVMH made up a third of the French CAC 40 index's 14% gain this year, which helped propel the benchmark index to a record high on Thursday. The CAC 40 is outperforming the Stoxx Europe 600 Index, which has increased about 9% year-to-date as well.

☆ Gucci, Balenciaga Struggle Amid Designer Shakeup and Ad Controversy
▼ + stars: | 2023-02-15 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

PARIS—A fall in sales at Gucci and consumer outrage over Balenciaga’s portrayal of children in its ads led to a slowdown in revenue at the brands’ owner. French luxury conglomerate Kering SA said its biggest brand, Gucci, booked a 14% drop in comparable sales over a three-month period ending in December in part due to pandemic restrictions that were in place in China during the quarter. Kering reported a 4% sales drop in its “other brands” segment, which includes Balenciaga, over the same period.

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