LVMH news and archive

If Valentino launched today ‘we’d be doing slow fashion’ - Giancarlo Giammetti

The business of Valentino has changed hands more than that of other luxury brands, yet the brand's cachet remains undiminished despite a roster of different owners. Now under Kering's portfolio, who acquired a 30 percent stake from Qatari investment vehicle Mayhoola, Valentino has weathered multiple ownership transitions and maintained its...

Fashion

Phoebe Philo announces collection's second drop

British designer Phoebe Philo, who last month debuted the initial offerings from her new namesake fashion house, has confirmed the second drop of her inaugural A1 edit. New styles will be available on the brand’s website on 28 November, as confirmed by a newsletter, although specifics of the second release remain undisclosed. A later third...

PeopleFeatured

Changes at the top for LVMH's Berluti and Chaumet

LVMH-owned French luxury menswear brand Berluti has confirmed that Antoine Arnault will step down as chief executive in January 2024. Arnault, the eldest son of Bernard Arnault, chairman and chief executive at LVMH, will be replaced by Jean-Marc Mansvelt, who has been chief executive officer of heritage jeweller Chaumet since 2014. Mansvelt will...

Business

LVMH opens 2024 Prize applications, introduces new Savoir-Faire prize

LVMH has opened up the applications for its 2024 Prize, with this edition to be the first to feature three awards as the luxury group introduces its new Savoir-Faire Prize to the line up. In the announcement, LVMH said the new prize looked to promote the transmission of skills in craftsmanship, with a young brand to be recognised for such...

Business

L Catterton commits 15 million euro capital injection to Etro

LVMH-backed investment vehicle L Catterton has initiated a 15 million euro recapitalisation of the Etro fashion house. According to Milano Finanza the primary purpose of its recent shareholders meeting was to address a capital increase and implement changes to the company's bylaws. Etro’s recapitalization was prompted by significant losses in...

Fashion Featured

Phoebe Philo drops first collection online

Phoebe Philo unveiled the first drop of her new collection on the brand's e-commerce site on Monday. The British designer, whose collections spoke of quiet luxury long before it became a fashion byword, first announced the launch of her namesake label in July 2021. Last month, a newsletter to subscribers revealed initial campaign images and the...

Business

Third quarter revenue postings have shown a shift in luxury dynamics

It has been an interesting third quarter in the realm of luxury fashion. Power dynamics are shifting as global demand for luxury goods is both waning and changing. The luxury industry is shifting its focus to the ultra-wealthy as the middle class cuts back on spending, said the Washington Post in a comment piece this week. Gucci-owner Kering...

Fashion

Celine continues to defy convention with surprise Parisian fashion show

Hedi Slimane dropped a surprise fashion show on the Celine website. The brand eschewed Paris Fashion Week instead unveiling its women’s Spring Summer 2024 collection on its own calendar. Celine stands out among luxury brands as one of the very few, if not the only one, to embrace the digital format that became popular during lockdowns and...

PeopleFeatured

Bernard Arnault secures LVMH Group control for next 30 years

French billionaire Bernard Arnault has solidified his control over the LVMH Group for the next three decades. The transition, originally set to occur upon his passing, has now been triggered by his youngest child, Jean Arnault, turning 25, reported Italy’s ll Sole 24 Ore newspaper. Instead of control shifting to a Belgian foundation, it will...

Business

Is the luxury bubble over?

LVMH’s revenue growth has slowed dramatically in the last quarter, a signal some are marking as the end of the global luxury bubble. Global growth investors may cycle into US Big Tech as a result, DataTrek said in a Tweet. “Today’s news that LVMH’s revenue growth has slowed dramatically likely marks the end of a global luxury bubble” DataTrek...

BusinessFeatured

LVMH revenue growth slows down in Q3

Luxury conglomerate LVMH Moët Hennessy Louis Vuitton recorded third quarter organic revenue growth of 9 percent to 19, 964 million euros down from a 17 percent rise in the second quarter. Organic revenue growth of 14 percent to 62,205 million euros in the first nine months of 2023. The company said in a statement that after taking into account...

PeopleFeatured

Kering called out for lack of diversity in top design jobs

The departure of Sarah Burton from Alexander McQueen signifies not only the conclusion of her 26-year tenure at the British luxury brand but also marks the absence of female creative directors among Kering's top fashion houses. Kering, which owns brands like Gucci, Balenciaga, Saint Laurent, Bottega Veneta, and Brioni, currently employs creative...