PARIS — Declining tourism in Europe and withering demand for watches in Asia-Pacific contributed to a 3 percent dip in third-quarter sales at Richemont.Revenues in the three months ended Dec. 31 totaled 2.93 billion, or $3.21 billion at average exchange rates, representing a 4 percent decline stripping out the impact of currency.Richemont, parent of brands including Cartier, Baume & Mercier, Dunhill and Lancel, trumpeted that jewelry enjoyed strong growth, partly compensating for lackluster sales of timepieces.The company noted that the decline in European sales began in November, the month when terrorists stormed cafés and a concert hall in Paris, killing 130 people and wounding hundreds. The French capital is a key city for Europe’s luxury players to capture well-heeled travelers.Richemont also cited “subdued” sales in the Americas, “limited growth” in the Middle East and Africa, and a slower pace of growth in Japan, signaling that luxury firms face few bright spots as they enter 2016.Declining sales of its specialist watchmakers — a 4 percent dip at constant exchange rates — reflects caution in the wholesale channel, particularly in Hong Kong, Macau and the Americas, Richemont said, noting that the rate of sales growth “continued to improve in mainland China.”The company cited modest growth in its “other businesses,” which include the fashion houses Chloé and Peter Millar and the pen specialist Montblanc.“The challenging trading environment is likely to prevail in the final quarter to March 31, 2016,” Richemont noted, also warning that operating profits would be dented by a property disposal gain in the year-ago period.Richemont is scheduled to report full-year results on May 20.
In honor the @CFDA’s announcement of @iamnaomicampbell receiving the Fashion Icon Award at the 2018 #CFDAAwards, which will take place on June 4, here’s a #tbt of the supermodel on @michaelkors’ runway in 1991. #wwdfashion #wwdarchive (📷: George Chinsee)
“I was making the guacamole when my scout saw me,” says model @stuckinteenage on being discovered just six months ago while working at @chipotlemexicangrill. Since then Williams has signed with @dnamodels, walked in her first show at @calvinklein and landed on the cover of @vogueitalia – a high point of any model’s career. To read @lisajlockwood’s full interview with the model on her experiences thus far, head to WWD.com – link in bio. (📷: George Chinsee)
“I love the idea of dialogue, period. It’s where I’ve always gotten my inspiration from: hearing other women speak, their journeys and their paths,” said @hereisgina, who delivered the keynote speech during @sxsw for @createcultivate in partnership with @fossil. For her two panels, Rodriguez chose female empowering, female-led and female entrepreneurs to focus on. Head to WWD.com to read more about her thoughts on Time’s Up, growing up in a family of women and why we “need a girls’ club.” #wwdeye #sxsw (📷: @jgreenery)
Leading luxury brand are shaking things up to keep up with streetwear. Case in point: the arrival of @mrkimjones as artistic director of @diorhomme. Jones, who succeeds @Kris_Van_Assche, is seen as one of the handful of designers who can actually straddle the luxury and streetwear worlds — which could lead to even more changes at established brands. What could this mean for the rest of the menswear landscape? Head to WWD.com to find out what experts predict #wwdfashion (📷: @franckmura)
“It’s like buying groceries. You’re going to buy the best mango, the best mozzarella, the best things. You have to, or others are going to take it all,” said @gabrielahearst on why she uses only the finest fabrics. Last week, Hearst received her first @cfda nomination for Womenswear Designer of the Year, and earlier this month she opened a permanent showroom in Paris. To read @jessiredale’s interview with the designer and find out why this is shaping up to be a big year for her, head to WWD.com. #wwdfashion (📷: @francoisgoize)
“It’s an interesting thing, playing a younger version of your mother. It’s an interesting concept. I adore my mom and love her in every capacity, but it was just something that had never crossed my mind,” says @anniemstarke on playing a young Joan Castleman in “The Wife.” The same role will be played by her mother Glenn Close. Read more about her growing up in the film industry as the daughter of producer John H. Starke and Close and what she has planned for the future #wwdeye (📷: @nataliamantini)
@asics is launching a new streetwear sneaker inspired by its latest ambassador, @steveaoki. The Hyper-Kenzen x Aoki, which will launch at @footlocker stores exclusively tomorrow, is a slip-on style that incorporates the brand’s proprietary Gel technology through beads integrated into the midsole for comfort and endurance. Read the full story on WWD.com.