Burberry shares rise after reports Moncler is considering bid

Head of LVMH, an investor in Italy’s Moncler, reportedly keen to get deal done with British luxury brand

Shares in Burberry have risen by more than 7% after reports suggested Italian rival Moncler may be considering a bid for the British luxury fashion brand.

The spike came after the trade journal Miss Tweed reported that Moncler, which also owns Stone Island, was looking at a potential acquisition of Burberry, which has struggled as demand for luxury goods has fallen.

Continue reading...

Louis Vuitton owner LVMH reports surprise sales drop amid China slowdown

Shares in LVMH, which also owns Dior, Tiffany and Moët & Chandon, fell by as much as 7%, briefly hitting two-year low

Shares in luxury goods brands slumped after Louis Vuitton’s LVMH reported an unexpected fall in third-quarter sales amid China’s economic slowdown.

Shares in LVMH, which also owns Dior, Tiffany and Moët & Chandon, fell by as much as 7% in early trading, briefly hitting a two-year low, before regaining slightly, after it warned of an “uncertain economic and geopolitical environment”,with falling sales in Asia.

Continue reading...

Barcelona police criticised for baton charge at protest over fashion show

Police response to protest over closure of Park Güell for glitzy event was ‘totally out of proportion’, resident says

Catalan police have been criticised for baton-charging people protesting against the closure of Barcelona’s Park Güell for it to host a Louis Vuitton-organised fashion show, as anger grows that the city is being overrun by tourists and glitzy international events to the detriment of local life.

A residents association complained that in the lead-up to the event the whole neighbourhood had been cordoned off. “For days the neighbourhood has been saturated with police and private security companies,” said one resident, Aidà Almirall Serra, adding that armed police had demanded ID cards and searched parents’ bags when they picked up their children from nursery.

Continue reading...

Two sons of world’s richest man Bernard Arnault join him on board of LVMH

Pair also join two other siblings on board, further strengthening family’s control of French luxury goods company

Two sons of the world’s richest man, Bernard Arnault, have joined the board of LVMH after a shareholder vote, further cementing the family’s control of the French luxury goods company.

The pair joined their elder siblings on the board of directors of the company, which houses brands such as Dior and Louis Vuitton, meaning four of Bernard Arnault’s five children now sit on the board.

Continue reading...

Nicolas Ghesquière marks Louis Vuitton with powerhouse show in Paris

In a vast futuristic greenhouse at the Louvre, 4,000 guests were shown why the brand is the biggest of them all

Ten years to the day after his first show for Louis Vuitton, Nicolas Ghesquière celebrated a remarkable anniversary in the same Paris landmark where he made his debut. In the ruthless spit-em-out churn of fashion, and in the eye of that storm as the designer of the biggest brand of all, Ghesquière’s is quite the run.

A vast futuristic greenhouse lit from within with 13 vast globe-shaped chandeliers – Louis Vuitton, travel, get it? – filled an entire quadrangle of the Louvre, rising almost to the mansard roof of the museum.

Continue reading...

Pharrell Williams takes Louis Vuitton to Hong Kong for his second men’s show

Creative director targets east Asia’s luxury market as his preppy streetwear is given a tropical twist

For his first show as men’s creative director of Louis Vuitton in June, Pharrell Williams closed down the Pont Neuf in Paris, and counted mega-celebrities including Beyoncé and Jay-Z, and Rihanna and A$AP Rocky as guests.

His second effort took place in Hong Kong and focused on local stars in the front row. The actors Zhu Yilong and Chow Yun-fat were joined by three members of the Cantopop band Mirror and the rapper Tyson Yoshi. There was also a take on celestial stars, with a light show at the end rendering the Louis Vuitton monogram in twinkling lights across the city’s harbour.

Continue reading...

Luxury goods boom in Britain as the young, rich and mortgage-free buck the recession

Rich kids of Insta use strong dollar to fuel sales of high-end brands such as Burberry, Louis Vuitton and Gucci

They’re young, rich and mortgage-free, and the scions of the 1% are having a roaring twenties.

Despite the economic gloom currently shrouding the UK and many other western countries, sales of luxury brands have been booming and growing numbers of buyers are young adults.

Continue reading...

Luis Vuitton reduces thermostat and light use in shops to save energy

LVMH announced measures after Emmanuel Macron urged France to reduce power consumption

LVMH, the owner of Louis Vuitton, plans to lower the thermostat at its stores around the world as part energy-saving measures this winter.

The French conglomerate will also turn off the lights at its stores earlier, starting in France in October before being deployed worldwide.

Continue reading...

Virgil Abloh: Off-White designer dies at 41

The fashion maverick, also creative head at Louis Vuitton, had been suffering from an aggressive form of cancer for two years

Fashion designer Virgil Abloh has died after suffering from cancer, it has been announced.

The 41-year-old, who was the creative director for Louis Vuitton and Off-White, had cardiac angiosarcoma, a rare, aggressive form of the disease, according to an announcement on his official Instagram page.

Continue reading...

Fashion returns to catwalks as Dior takes over Athens ancient stadium

Cruise collection at Panathenaic stadium includes pieces inspired by contemporary Greece

The 2,000-year-old Panathenaic stadium in Athens could hold 70,000 on marble seats for the first modern Olympics in 1896. So there was plenty of room in the front row at Dior’s catwalk show at the venue this week, where the guest list was capped at 400.

Despite most international buyers, editors and clients watching from home on their laptops, Dior’s Cruise collection was a blockbuster live event. The brand was keen to point out that the ancient stadium made for a responsible choice of venue, being well-ventilated and spacious. It was also undeniably grand, especially when backlit by fireworks and soundtracked by a full orchestra. A mostly Greek and Italian audience were joined by the Greek president, Katerina Sakellaropoulou, and the actor Anya Taylor-Joy.

The catwalk show remains fashion’s most powerful lever for generating attention and prestige. For luxury brands who are watching profits dwindle – and observing with envy, as the cult leggings label Lululemon announces 88% revenue growth in the first quarter of this year – there is a strong business case for keeping the catwalk alive. But there is more at stake here than luxury brand profits and designer egos. Catwalk shows are symbolic of fashion’s identity as a creative art as well as a business. They give fashion a voice in wider conversations. It is in this spirit that Kerby Jean-Raymond, the first Black American designer to show at Paris haute couture, will next month livestream his Pyer Moss catwalk show from Villa Lewaro, the elegant Hudson River estate built by Madam CJ Walker, the African American entrepreneur who was America’s first self-made female millionaire.

Now designers are pulling out all the stops to lure hearts and minds away from trainers and drawstring waists and back to dressing up. Dior’s Athens spectacular is just one of a raft of upcoming fashion blockbusters. Earlier this week, Louis Vuitton staged and filmed a space-tourism themed catwalk show outside Paris, without a live audience. Max Mara are taking their catwalk to the Italian island of Ischia next week, while Valentino and Saint Laurent have announced catwalk shows in Venice in July.

For the Dior designer, Maria Grazia Chiuri, each catwalk collection is “an immense atelier for research and imagination. For a creative person, it is a beautiful thing to do, an opportunity to collaborate”.
Chiuri used the Athens show to explore how the relationship between a prestigious Parisian fashion house and the global cultures and traditions which appear as references on its catwalk has evolved. In 1951, a famous set of pictures by the photographer Jean-Pierre Pedrazzini showed models in Christian Dior ballgowns posing in front of the sculpted female figures of the Caryatids of the Acropolis, mirroring their graceful poses. Seventy years later, Chiuri is aware that a French fashion house using an ancient Greek monument as mere stage props for its latest silhouette would not fly with modern sensibilities.

“As a designer, if you are careless, then you diminish beauty and culture so that it becomes a cliche,” she said. “That is what we work to avoid – we were very focused on what is contemporary to Greece now.” The collection shown on this catwalk will provide work for local Greek fashion businesses, with houndstooth pieces woven at the Silk Line, an Eastern Macedonian factory which uses traditional Greek jacquard techniques. The Greek fisher’s caps on the catwalk were made by Atelier Tsalavoutas, which has manufactured the caps since the 19th century. In a statement, the house of Dior emphasised their respect for the iconic venue, where they “worked hand in hand with Greek archeologists to ensure the site’s complete and unconditional preservation”.

Travel is a fantasy for most people right now – but billionaires have had a very different experience of the pandemic. On 20 July, the 11-minute inaugural staffed flight of Jeff Bezos’ Blue Origin rocket will inaugurate the era of space tourism. If it is a success, the 1% will soon be needing a new holiday wardrobe.

So for Louis Vuitton’s latest catwalk show the house’s creative director, the lifelong space travel enthusiast Nicolas Ghesquière, created the ultimate new season capsule wardrobe: a space capsule wardrobe. Images of an escalator leading up to a planet, surfers on an moonscape beach, and a motel car park in an alien landscape were emblazoned on to spacesuit-quilted trousers, Courrèges-style futuristic flat boots, and gravity-defying ovoid silhouettes. “It is a fantasy that has become real, now that it has turned into a competition between titans,” said Ghesquière in a videocall after the livestream of the show, which was filmed without a physical audience. The designer is keen to make a trip himself. (“But not the first flight. I’m not that brave.”)

Continue reading...

‘I came up a black staircase’: how Dapper Dan went from fashion industry pariah to Gucci god

In the 1980s, his Harlem store attracted famous athletes and musicians. Then the luxury brands got him shut down. Now, at 76, he’s more successful than ever – and still on his own terms

It was a mentor on the gambling circuit in Harlem, New York, who gave Daniel Day the moniker that would make him famous. Day was just 13, but had revealed himself to be not only a better craps player than his guide, who was the original Dapper Dan, but also a better dresser. So it came to be that Day was christened “the new Dapper Dan”.

It wouldn’t be until decades later that Day would truly make his name. Dapper Dan’s Boutique, the legendary Harlem couturier he opened in 1982, kitted out local gamblers and gangsters, then later hip-hop stars and athletes such as Mike Tyson, Bobby Brown and Salt-N-Pepa. His custom pieces repurposed logos from the fashion houses that had overlooked black clientele. A pioneer in luxury streetwear, Day screenprinted the monograms of Gucci, Louis Vuitton, MCM and Fendi on to premium leathers to create silhouettes synonymous with early hip-hop style: tracksuits, bomber jackets, baseball and kufi caps. In the process he became a pariah of the fashion industry – and to this day, now aged 76, still one of its great influencers.

Continue reading...

Diamond as big as a tennis ball makes Louis Vuitton debut in Paris

1,758-carat Sewelô snapped up by luxury brand is world’s second-largest rough diamond

Louis Vuitton has made a splash as it showed off its latest purchase: the world’s second-largest rough diamond.

The LVMH-owned brand, which announced last week that it was the new owner of the 1,758-carat Sewelô, displayed the glinting, blackened stone at its Place Vendôme store in Paris.

Continue reading...