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[1/2] A man looks at a window display outside a Gucci store, part of the Kering group, at Tsim Sha Tsui shopping district in Hong Kong January 17, 2013. But while Gucci, which accounts for the bulk of profits and revenues at Kering, was the only brand to post a fall in sales, analysts said other labels too posted lower-than-forecast results. Kering said sales fell by 15% in North America in the fourth quarter and by 19% in Asia Pacific. But the situation has been more complicated for Kering, since Gucci relies more heavily on China than competitors. LVMH's fashion and leather goods division, home to Louis Vuitton and Dior, grew sales by 10% over the fourth quarter.

☆ Amazon's VC arm leads $20 mln funding at entertainment firm Superplastic
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

Feb 15 (Reuters) - Entertainment company Superplastic said on Wednesday it had raised $20 million in a funding round led by the venture capital arm of Amazon.com Inc (AMZN.O) as it looks to expand its universe of digital characters. The latest cash infusion, a Series A extension, takes Superplastic's total funding to $58 million, the company said. Other investors that participated in the funding round include Craft Ventures, Google Ventures, Galaxy Digital, Kering, Sony Japan, Scribble Ventures, Kakao, Animoca Brands, Day One Ventures and Betaworks. Superplastic sells toys, apparel and non-fungible tokens in collaboration with brands, including Gucci, Fortnite, Mercedes-Benz, Tommy Hilfiger and celebrities such as Paris Hilton, Post Malone and The Weeknd. Reporting by Medha Singh in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

☆ Gucci Parent Kering Taps Estée Lauder Executive for Beauty Push
▼ + stars: | 2023-02-03 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

PARIS—Gucci-owner Kering SA has tapped a senior Estée Lauder Cos. executive to lead a new beauty division, as the luxury giant looks to expand in cosmetics and perfumes. Raffaella Cornaggia will help develop beauty offerings for brands including Bottega Veneta, Balenciaga and Alexander McQueen. Kering said the Italian national would bring strong experience to a strategically important area.

☆ Gucci's challenge: reigniting heat while boosting timeless appeal
▼ + stars: | 2023-01-30 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

PARIS, Jan 30 (Reuters) - Sabato De Sarno, newly appointed by Kering (PRTP.PA) to reinvigorate its prized Gucci brand, needs to spark heat with a new direction, analysts say - a delicate task, given the emphasis executives have also put on the label's timeless appeal. De Sarno, a senior fashion designer from Valentino, is tasked as creative director with reviving the fortunes of the brand that accounted for two-thirds of Kering's profits in 2021. Analysts welcomed Kering's choice of a seasoned but relatively unknown designer, noting that previous creative director Michele did not have a public profile when he was appointed in 2002. His experience at Valentino suggests a "less eccentric aesthetic" than Gucci's previous designer, noted Carole Madjo of Barclays. The designer rose through Valentino's ranks after his arrival in 2009 to become fashion director overseeing both the men's and women's collections, working closely with chief designer Pierpaolo Piccioli.

☆ New Gucci designer has big sneakers to fill
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

MILAN, Jan 30 (Reuters Breakingviews) - Gucci’s new creative head Sabato De Sarno is stepping onto a wobbly catwalk. François-Henri Pinault’s conglomerate Kering (PRTP.PA) on Saturday picked the 39-year-old from smaller fashion house Valentino to lead its biggest brand and succeed star designer Alessandro Michele, who left abruptly in November. Michele’s daring designs, which he applied lavishly on anything from shirts to sneakers, helped Gucci sales shoot up to nearly 10 billion euros in 2019. But at around 10.5 billion euros in 2022, Gucci sales are expected to have risen only 10% since then. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

PARIS, Jan 28 (Reuters) - French luxury goods group Kering (PRTP.PA) has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. "I am touched and excited to contribute my creative vision for the brand.”He will present his debut Gucci runway collection at Milan Women's Fashion Week in September 2023. Gucci CEO Marco Bizzarri said that having worked with a number of Italy's most renowned luxury fashion houses, De Sarno "brings with him a vast and relevant experience." "Gucci - and the Kering shareholders - need courage and an original point of view." "The eyes of the world will be on him to see if he also has the required creative genius."

☆ Kering appoints De Sarno as Gucci creative director
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Gucci sign is seen outside a shop in Paris, France, January 27, 2023. REUTERS/Sarah Meyssonnier/FilesPARIS, Jan 28 (Reuters) - French luxury giant Kering (PRTP.PA) has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. I am touched and excited to contribute my creative vision for the brand,” De Sarno said in Kering's statement. He will present his debut Gucci runway collection at Milan Women's Fashion Week in September 2023. Former creative director Alessandro Michele, known for his flamboyant and gender-fluid styles, left Gucci abruptly in November after seven years in the job, following tensions between with Kering's top management, sources told Reuters.

☆ Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning
▼ + stars: | 2023-01-26 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Luxury giant LVMH said China's wealthy consumers have started returning to stores after the country's reopening and it remains optimistic about the year ahead. "We have every reason to be confident, indeed optimistic on China," LVMH CEO Bernard Arnault said during the company's earnings presentation. Bain & Co estimates that global luxury sales grew 22% in 2022, to over $380 billion, with the U.S. replacing China as the top market. Even if China rebounds, growth in luxury sales is likely to be slower this year. Bain estimates global sales could grow between 3% and 8% in 2023, depending on China's reopening and the U.S.

☆ PREVIEW Luxury giants bank on Chinese return as Western shoppers sober up
▼ + stars: | 2023-01-24 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

They are expected to see a deceleration in sales growth over the quarter as the post-pandemic splurge on designer fashions begins to ease in the United States and Europe. Hermes (HRMS.PA), which reports fourth-quarter results on Feb. 17, is expected to show sales growth of 17%, a decline from 24% in the third quarter. Luxury spending by Chinese nationals had dipped from 33% of the global personal luxury goods market in 2019 to as little as 17% last year, according to estimates from consultancy Bain. Burberry's like-for-like sales growth slowed sharply to 1% in the quarter to end-December after a 23% fall in mainland China. Although the Chinese are expected to initially resume travelling within Asia, Europe is a region that particularly stands to benefit from a return of Chinese tourists.

☆ Luxury giants bank on Chinese return as Western shoppers sober up
▼ + stars: | 2023-01-23 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

But retailers in popular Asian destinations are desperate to take advantage of the return of a first wave of Chinese tourists as the country reopens borders after three long years of COVID-19 curbs. And robust demand for destinations like Macau, Hong Kong, Taiwan and Thailand has boosted prospects for the battered travel industry, Ctrip booking data shows. Still, destinations elsewhere show that the return of Chinese tourists remains at a very early stage. Fresh COVID testing requirements for Chinese tourists in some locations may be acting as a barrier, while some countries also require visas that take time to process. Retailers in South Korea are also not seeing a huge influx in Chinese tourists yet, citing the suspension of short-term visas for travellers between both countries.

☆ Luxury eyes focused on China after Richemont's Q3 sales miss
▼ + stars: | 2023-01-18 | by ( John Revill | ) www.reuters.com time to read: +3 min

SummarySummary Companies Q3 sales rise by 8% but miss market forecastsMainland China sales drop 24%Company says customer demand in China now picking upAll eyes on China for luxury sector, say analystsZURICH, Jan 18 (Reuters) - Cartier jewellery maker Richemont (CFR.S) missed market forecasts during its latest quarter as the resurgence of COVID-19 in China hit sales there, highlighting the country's importance for the luxury sector. Richemont, whose other brands include Swiss watchmakers IWC and Jaeger-LeCoultre, has been seeing strong sales growth in Europe, the Middle East and Japan, particularly for jewellery. But the mainland Chinese market - which accounts for about a fifth of the group's sales, according to Zuercher Kantonalbank estimates - struggled with sales down 24% in constant currency terms. The prospect of a pickup in Chinese sales meant analysts were not too worried by Richemont's quarterly miss. "The catch-up from Chinese consumers will come as strong as sales decelerated in 3Q, as they were able to save money during the lockdowns."

LONDON/ZURICH, Jan 18 (Reuters) - Luxury retailers Richemont (CFR.S) and Burberry (BRBY.L) said they were optimistic that consumers in China would start spending again, helping offset three years of upheaval from the government's strict COVID-19 lockdowns and soaring infections. Richemont (CFR.S), whose brands include Cartier jewellery and Swiss watches IWC and Jaeger-LeCoultre, also said it expected a strong rebound in China. The European luxury sector is among the largest expected winners as China loosens COVID-19 restrictions that kept shoppers out of stores for months. Richemont missed market estimates after sales in China plunged by a quarter, as customer traffic dwindled and staff were not available, leading to a reduction of boutique hours, or temporary closures of sales points, the company said. Mainland China is currently 25% of Burberry sales, down from about 40% pre-pandemic.

☆ Saint Laurent opens Paris Fashion Week with chic evening wear for men
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

[1/5] A model presents a creation by designer Anthony Vaccarello during his Menswear ready-to-wear Fall/Winter 2023-2024 collection show for fashion house Saint Laurent as part of Men's Fashion Week in Paris, France, January 17, 2023. REUTERS/Benoit TessierPARIS, Jan 17 (Reuters) - French luxury house Saint Laurent kicked off Paris Fashion Week's menswear shows Tuesday night with a sleek lineup of sharply tailored evening looks for men, drawn up by designer Anthony Vaccarello. Models strode on pointy, heeled boots, their turtlenecks pulled up high, while tightly cinched overcoats were worn with the collars turned up. She continued to play as Vaccarello walked out for his bow, prompting a burst of applause and cheers from the audience. Paris Fashion Week's menswear collections run through Jan. 22, and will feature shows from high-end labels including Louis Vuitton, Dior Homme, Givenchy, Hermes and Maison Margiela.

PARIS/MILAN, Jan 13 (Reuters) - Gucci kicked off Milan fashion week on Friday with a lineup of slouchy, androgynous menswear styles, forging ahead with its latest collection while the industry waits for owner Kering (PRTP.PA) to name a new designer for the label. The question of who will steer Gucci's creative direction loomed over the megabrand's first men's show in the Italian fashion capital in three years. Events run through Jan. 17, drawing an audience that includes major retail buyers sizing up which styles might be future top sellers. Gucci held back on marketing investments during the pandemic, while larger rival LVMH's two biggest labels Louis Vuitton and Dior pushed ahead, a move that analysts say helped them gain ground on rivals. Despite the current turbulence at Kering, however, expectations are high given the group's strong track record nurturing brands, analysts say.

☆ European shares start 2023 on upbeat note on encouraging factory data
▼ + stars: | 2023-01-02 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The pan-regional STOXX 600 (.STOXX) rose 0.8%, supported by consumer discretionary stocks. "With 10-year bund yields above 2.50%, relaxed year-end trading and the probable drop in HICP inflation are raising hopes for an upbeat start into the year," Commerzbank Research analysts said in a note, referring to the euro zone consumer prices inflation data due later this week. Rate-sensitive technology stocks (.SX8P), among the worst-performing shares last year, rose 1.5% on the day, despite more hawkish signals from the European Central Bank. Bond yields of Europe's largest economy, Germany, dropped from their highest levels in more than a decade as investors braced for inflation data this week. The German DAX (.GDAXI) gained 1.0%, while other European exchanges also started the year on a positive note.

☆ European shares muted, UK outperforms as China-exposed stocks jump
▼ + stars: | 2022-12-28 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The region-wide STOXX 600 (.STOXX) was flat as of 9:31 GMT, while the FTSE 100 <.FTSE> advanced 0.7% as commodity-linked and China-exposed stocks jumped in early trading. The UK market, which was closed for holidays since its half-day trading on Friday, is playing catch-up, analysts said. The FTSE 100 index has benefited this year from its exposure to commodities as prices of oil and base metals have rallied amid the Russia-Ukraine war. Meanwhile, STOXX 600 was headed for an annual loss of 12.2% as concerns about an economic recession due to aggressive monetary policy tightening by central banks globally weighed on the European index. The technology sector (.SX8P) weighed on STOXX 600 on Wednesday, tracking the overnight fall in U.S. peers as rising yields pressured the interest rate sensitive shares, a recurring theme this year.

☆ 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.

News of the loosening lifted stock markets worldwide, with luxury shares in particular benefiting. Shares in LVMH (LVMH.PA), the world's biggest luxury group and Europe's number 1 company by market capitalisation, were up 2.7% while Cartier-owner Richemont (CFR.S) rose almost 4%. Before the current slowdown, it had for years been the fastest growing region, with young, urban, middle class professionals powering the luxury market by splashing out on Hermes' 10,000 euro-plus ($10,633) Birkin handbags and Gucci's 1,000 euro fur-lined loafers. According to a recent report by the McKinsey consultancy, while non-luxury fashion sales are expected to rise between 2% and 7% in 2023, luxury sales should climb 9% to 14% over the same period. ($1 = 0.9405 euros)Reporting by Silvia Aloisi; Editing by Louise Heavens Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ European shares fall on caution ahead of key rate hike decisions
▼ + stars: | 2022-12-12 | by ( Amruta Khandekar | ) www.reuters.com time to read: +2 min

The continent-wide STOXX 600 index (.STOXX) was down 0.7% at 0857 GMT, deepening losses from earlier in the session. With recent signs of easing inflationary pressures in the euro zone, the European Central Bank is expected to deliver a dialled-down 50 basis points (bps) rate hike on Dec. 15, a day after the Federal Reserve's interest rate announcement. "The markets are still relying on this narrative that inflation will cool, the central banks will be able to slow down, pause interest rate increases," said Russ Mould, investment director at AJ Bell. "But the numbers remain mixed, so it's perhaps not quite as clear cut as the markets would like it to be." Sanofi SA (SASY.PA) rose 0.7% after the French drugmaker on Sunday said it pulled out of talks to buy Horizon Therapeutics (HZNP.O).

☆ A photographer says he's received death threats over Balenciaga's 'bondage bears' ads: report
▼ + stars: | 2022-12-10 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +3 min

Balenciaga's latest holiday advertising campaign sparked a backlash on social media. Photographer Gabriele Galimberti told The Guardian he's received death threats and lost out on work. Gabriele Galimberti told The Guardian: "I get messages like 'we know where you live'. The campaign, which was withdrawn on November 22, was accused of sexualizing children and triggered a backlash on social media. In a statement posted to social media, Balenciaga said: ""We sincerely apologize for any offense our holiday campaign may have caused.

☆ Western firms’ Chinese red lines are not their own
▼ + stars: | 2022-12-02 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Yet companies’ red lines on China are out of their hands. Undeterred by growing geopolitical tensions and slowing Chinese growth, several Western companies have this year intensified the rate at which they bet on the People’s Republic. If Western states decide to impose sanctions, boards would have their red lines decided for them. Western companies will keep betting on the Middle Kingdom, until their governments stop them. The report predicts China will become the largest global market for luxury goods by 2025.

☆ Balenciaga designer, CEO apologize for ad campaign featuring children
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

The storm over the campaign led reality television star Kim Kardashian to review her ties with the label. Separately, the Kering (PRTP.PA)-owned label issued a statement signed by CEO Cedric Charbit outlining new internal processes, including naming an "image board" to evaluate content. A second, separate campaign for the label's spring 2023 collection, set in an office, included papers featuring text from a 2008 Supreme Court ruling relating to child pornography. In a statement earlier this week, Balenciaga apologized and said that investigations into the ad campaigns were ongoing. It said the papers featuring the legal text on child pornography were props from a third party and that it had filed a complaint against the inclusion of the "unapproved documents."

☆ TikTok users protest Balenciaga's holiday campaign by destroying bags and shoes
▼ + stars: | 2022-12-01 | by ( Morgan Sung | Morgan Sung Is A Trends Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

Some TikTok users are destroying Balenciaga purses, shoes and other luxury products in protest of the fashion house's holiday campaign, which portrayed children holding plush bears dressed in leather harnesses. The campaign was criticized as inappropriate and harmful to children because the teddy bears appeared to be dressed in kink gear. Balenciaga apologized for the campaign last month, suggesting on Instagram that it hadn’t approved the images before the campaign went live. “Our plush bear bags should not have been featured with children in this campaign,” the company said. On TikTok, creators who were formerly loyal to Balenciaga posted videos admonishing it.

☆ UBS reveals global stocks that will win — or lose — when China reopens
▼ + stars: | 2022-12-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

But when they do, Swiss bank UBS has identified stocks in the MSCI Europe index that will do better than others "in an environment where China's growth rebounds." The investment bank screened for companies in Europe that meet the following criteria: A high percentage of sales exposure to China. The stocks in the table below have been ranked using UBS' composite score, which brings together the above factors. London-listed engineering groups IMI and Weir Group and Asia-focused bank Standard Chartered were among the top 15 stocks with high exposure to China, according to UBS. According to UBS, shares of chemicals and specialty materials companies BASF , Solvay , Arkema and Sika are also exposed.

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