LVMH MOËT HENNESSEY LOUIS VUITTON managed to dodge the effects of the Iraqi war and SARS in the first quarter, but not the dramatic shifts in international currency markets. A negative currency impact of about 11 percent hurt the performance of...
LVMH MOËT HENNESSEY LOUIS VUITTON managed to dodge the effects of the Iraqi war and SARS in the first quarter, but not the dramatic shifts in international currency markets. A negative currency impact of about 11 percent hurt the performance of the luxury giant, which saw sales fall 5.2 percent to $3 billion in the three months ended March 31. A drop in global travel because of SARS and the war in Iraq have only impacted DFS, which saw sales drop 6 percent in March. But other regions fared well, with group sales up 10 percent in the U.S. and up 15 percent in Japan. In the U.S., LVMH’s sales of fashion and leather goods advanced 11 percent; Louis Vuitton, 28 percent, and Sephora, 17 percent. While all divisions experienced sales declines in net terms, only the watches and jewelry unit posted an organic sales drop. LVMH isn’t slated to disclose first-half profits until September.... GUCCI GROUP’s fourth-quarter profits climbed 1.7 percent to $102 million, or 99 cents a share, from $100.2 million, or 98 cents a share, boosted substantially by cost cuts and a lower tax burden. Revenue for the quarter rose 1.6 percent to $763.9 million from $751.7 million as double-digit growth at Yves Saint Laurent, YSL Beauté and brands like Bottega Veneta compensated for a 7 percent decrease in sales for the core Gucci brand. The Gucci division saw its sales drop 7 percent to $472.9 million from $508.7 million in 2001. The strong fourth quarter only partially counterbalanced a weaker first nine months for Gucci. In 2002, net profits dropped 27.4 percent to $242.4 million from $334 million. Revenues slid less than 1 percent to $2.71 billion from $2.75 billion.... A 22.4 percent spike in second-half revenue allowed BURBERRY GROUP PLC to breeze past its revenue target for the year ended March 31. Second-half revenues jumped ahead to $502.4 million from $411 million in the last six months of the prior year. This would place full-year sales at $932.1 million, 18.9 percent ahead of last year’s $783.4 million and nearly $40 million past the goal of $894.9 million established internally, although never released by the company, at the time of its initial public offering last summer. Burberry plans to report full-year results, including profit figures, on May 22.... Double-digit sales growth in accessories and markets like Asia and Italy lifted BULGARI’s first-quarter profit and revenue as the firm reiterated its concerns over the damaging impact of SARS. Net profit for the three months ended March 31 rose 26.7 percent to $13.2 million from $10.4 million in the year-ago period. Revenue rose 3 percent to $185.2 million, but Bulgari said growth would have been 9 percent at constant exchange rates.... Cerruti parent FIN.PART, which is seeking to recapitalize after auditors rejected its balance sheet, managed to swing into the black for the first quarter of the year. Net profit for the three months ended March 31 came to $736,765 compared with a loss a year earlier of $4.11 million. Sales rose 1.7 percent to $150.7 million from $148.2 million, but the company said it gained 7.1 percent, stripping out results from the Boggi store chain, which Fin.part sold in February. The firm said sales in April rose 29.7 percent to $33.1 million from $25.5 million.... HERMÈS INTERNATIONAL posted better-than-expected first-quarter results, but they were tempered by the detrimental effects of the strong euro and their prospects by concern over the disruptive effects of SARS on business in east Asia. Slammed by negative currency effects, sales at Hermès fell 3.2 percent to $336.4 million in the first quarter versus $347.6 million a year ago. However, analysts characterized it as a healthy performance since organic sales growth, eliminating the effect of currency fluctuation, amounted to 5.5 percent in the period — above their expectations. They praised strong sales of leather goods, up 10 percent in real terms; impressive figures in Japan, up 14.2 percent in local currency, and the rest of Asia, up 18.6 percent in local currencies.... MARZOTTO, owner of the Valentino and Hugo Boss fashion houses, said its sales for the quarter ended March 31 rose 3.4 percent to $593.9 million, aided by the consolidation of Valentino, which it bought in spring 2002. Clothing accounted for 86 percent of the total with textiles comprising the balance. Marzotto reiterated that Valentino is still on track to break even in 2004. In 2002, Valentino widened its operating loss to $13.8 million from a loss of $3 million the year before. Sales rose to $149.4 million from $144.7 million.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)