Swiss watch company the Swatch Group Ltd. posted a 9.1 percent dip in profits for the first half, even though its watches and jewelry segment rallied with double-digit sales growth. The Zurich-based company’s net income declined to 418 million Swiss francs, or $398.6 million at average exchange, during the first six months of the year. This compared with profits of 460 million Swiss francs, or $374.8 million, a year earlier. (Currency conversions were made at average exchange for the respective periods). The decline in profits was mostly due to a loss on investments and negative currency effects, according to the company. Sales rose 8.5 percent to 2.97 billion Swiss francs, or $2.83 billion, versus 2.74 billion Swiss francs, or $2.23 billion. The watches and jewelry segment reported an 11 percent jump in sales to 2.35 billion Swiss francs, or $2.24 billion, compared with sales of 2.11 billion Swiss francs, or $1.72 billion for the same year-ago period, despite ongoing production bottlenecks and unfavorable exchange rates. “Brand marketing activities continued to be vigorously pursued worldwide and will even be increased, as in previous years, in the second half,” the company said. “The Olympic Games currently under way in China provide outstanding worldwide visibility for the Omega brand as official timekeeper. In the long term, this will allow the brand to further advance its leader position worldwide as well as in China.” Looking forward to the second half of the year, the company said it expects solid improvement in sales and profitability, as well as continued worldwide expansion.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim