Kering has plans to keep the recent exponential growth of Saint Laurent going, targeting almost double the revenue by 2021.At an investor day dedicated to Saint Laurent, Kering touted the brand’s 14 consecutive quarters of 20-plus percent growth, and said it's on track to go from 1.2 billion euros in sales in 2016 to about two billion euros in sales by 2021.Kering’s longer term plan for Saint Laurent, which now has Versus Versace alum Anthony Vaccarello at the design helm after a commercially successful four years led by Hedi Slimane, includes three billion euros in sales.Given Kering’s plans for store expansion of Saint Laurent, Barclays analyst Julian Easthope said in a note that the two billion euros sales target “should be attainable,” with admitting the three billion euros goal is “more aspirational, but suggests the group aims to invest and growth the brand in the long-term.”“Overall, this was a very upbeat investor day,” Easthope added.In terms of retail, Kering said it plans to hit 200 Saint Laurent stores over the next two years, a roughly 25 percent increase over the 159 stores operating at the end of 2016.Barclay’s pointed out that many “major brands” have somewhere around 350 stores, leaving “plenty of white space” for longer term expansion, which will be necessary to hit to three billion euros in sales. Kering has already begun investing more heavily in retail for Saint Laurent. The company said the brand’s business is now 68 percent retail, 27 percent wholesale and 5 percent royalties, compared to 60 percent retail. Thirty-one percent wholesale and 9 percent royalties in 2012, when Slimane joined the brand.“The investment in retail is clearly paying off,” Easthope said. The company also broke down Saint Laurent sales by age, revealing 65 percent of its sales come mostly from women between the ages of 18 and 34, with 52 percent coming from those between the ages of 25 and 34.Saint Laurent is also favored by locals, which account for 63 percent of its customers, while only 37 percent are tourists. Kering said it intends to invest more in travel retail, which accounted for just 1.8 percent of Saint Laurent’s sales last year. The brand is doing well with much-coveted Millennials, despite only 22 percent of its marketing spend going toward social media, but that’s likely to change in the near-term.Marketing was a “big theme” of the investor day, according to Barclays, which said Kering is planning to further cultivate “desire” for Saint Laurent through various advertising moves and is set to more than double its spend in digital marketing this year. For More, See:Unilever Adds Hourglass, Prestige Cosmetics, to PortfolioKering Sunglasses Made in China, Not Italy, Retailer ClaimsVeronique Branquinho Puts Label on ‘Hiatus’
For its next men’s wear collection, @roberto_cavalli will show as a special guest at #PittiUomo, running from June 12-15. The brand, which has Florence in its roots, will relaunch its men’s wear collection, which will be presented separately from women’s wear for the first time since Paul Surridge was appointed creative director in May. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
“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.