Despite storm clouds over parts of Europe, luxury consumers seem largely unfazed: Their unrestrained spending helped drive a 6.9 percent sales gain at the Estée Lauder Cos. Inc. in the second quarter.
“The affluent customer is spending freely for products she desires,” Lauder president and chief executive officer Fabrizio Freda told Wall Street analysts during the company’s second-quarter earnings call on Tuesday. He emphasized that Lauder has managed to grow despite softening across certain southern European countries, such as France, Italy and Spain. For instance, Freda noted that in France the company is growing at a rate of more than 8 percent.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"