Cedric Charbit's move to expand his remit at the expense of creative director Anthony Vaccarello is creating waves at Kering's flagship brand and starting to worry its top management.
Already the owner of a Bombardier Global Express, the Graff family has placed an order for the first private jet capable of flying non-stop from New York to Shanghai.
Rodeo Drive may cherish its ultra-exclusive reputation, built on the luxury mega-stores that dominate the thoroughfare. But unlike comparable destinations such as Paris’s Rue de la Paix and London’s Bond Street, where every inch of retail space is taken, vacant lots abound in this L.A. shopping hotspot.
The Saudi owners of the building the French luxury giant is occupying while its HQ is being refurbished have been demanding higher rents. A court ruling is pending.
The nightlife institution in the French capital's Saint-Germain area since the 1960s is to restructure its shareholding – and plenty of rich suitors are ready to pounce.
At the end of June, the seven Del Vecchio heirs were unable to reach agreement on any of the resolutions on the agenda for their family office’s general meeting. Since then, several of them have found ways to work around the stalemate imposed by the bitter feud that is tearing the family apart.
Amid difficult market conditions, Christie's, Sotheby's and Bonhams are all considerably increasing the commission fees they charge to buyers at their sales.
Following on from New York, the luxury jewellery house is opening new boutiques in two of Europe’s luxury capitals. The move comes amid strong recent growth, marred only by financial struggles in the US.
Cedric Charbit's move to expand his remit at the expense of creative director Anthony Vaccarello is creating waves at Kering's flagship brand and starting to worry its top management.
Already the owner of a Bombardier Global Express, the Graff family has placed an order for the first private jet capable of flying non-stop from New York to Shanghai.
Rodeo Drive may cherish its ultra-exclusive reputation, built on the luxury mega-stores that dominate the thoroughfare. But unlike comparable destinations such as Paris’s Rue de la Paix and London’s Bond Street, where every inch of retail space is taken, vacant lots abound in this L.A. shopping hotspot.
The Saudi owners of the building the French luxury giant is occupying while its HQ is being refurbished have been demanding higher rents. A court ruling is pending.
After focusing on the role of the Swiss financier Eric Freymond and his entourage, the financial division of the Paris judicial court, which for the last two years has been investigating the disappearance of Nicolas Puech’s shares in Hermès, has now turned its attention to LVMH. This summer, the investigating judge interviewed Jean-Jacques Guiony, who was the group’s CFO at the time and now runs the luxury giant’s wines and spirits division, Moët Hennessy.
The British brand Joseph has just cancelled its London fashion show at the last minute. Glitz understands that its Japanese owners, Onward Holdings, are looking to sell the label.
The consultancy giant, which has been acting as administrator for the London department store since it went into administration this summer, was previously Harvey Nichols’ financial adviser and has ruled that its consultancy fees should be paid as a matter of priority. It's a conflict of interest that's proving controversial.
Potential buyers of the luxury Rohan-Montbazon townhouse in the heart of the French capital have been put off by tensions among the owners and the poor state of certain parts of the property. But if the sale does go through, a Catholic congregation will stand to pocket several million euros.
Owned by the Sultante of Brunei's Dorchester Group, the luxury Parisian establishment is providing a wide range of services for those who stay in the city's Golden Triangle, whether they live there year-round or are merely passing through.
The designer has scored an initial victory against her previous associates, with whom she is embroiled in a protracted legal battle. But she did not emerge from court entirely unscathed.
The nightlife institution in the French capital's Saint-Germain area since the 1960s is to restructure its shareholding – and plenty of rich suitors are ready to pounce.
At the end of June, the seven Del Vecchio heirs were unable to reach agreement on any of the resolutions on the agenda for their family office’s general meeting. Since then, several of them have found ways to work around the stalemate imposed by the bitter feud that is tearing the family apart.
Amid difficult market conditions, Christie's, Sotheby's and Bonhams are all considerably increasing the commission fees they charge to buyers at their sales.
Following on from New York, the luxury jewellery house is opening new boutiques in two of Europe’s luxury capitals. The move comes amid strong recent growth, marred only by financial struggles in the US.
Since Covid, ultra-luxury property developments bearing brand logos have been shooting up along the South Florida city's seafront. But despite all the glittering prototypes and dreamy triplex apartments, many of the cranes have now come to a standstill and the lawyers have moved in. Four of Miami’s most prestigious towers are mired in repossessions and legal actions.
Taking advantage of the downward slide in Kering’s share price, the asset management firm Causeway, which has a reputation for engaging with the management of the firms it invests in, recently increased its stake in the French luxury-goods group to more than 5%. A move that comes in the midst of tricky transitions in the creative direction of both Saint Laurent and Balenciaga.
The questioning this summer of LVMH veteran Jean-Jacques Guiony by the judge investigating Nicolas Puech’s missing Hermès shares threw up some new revelations. The former CFO of Bernard Arnault’s group addressed among other things LVMH's links with the principal suspect in the Hermès affair, Éric Freymond.
After focusing on the role of the Swiss financier Eric Freymond and his entourage, the financial division of the Paris judicial court, which for the last two years has been investigating the disappearance of Nicolas Puech’s shares in Hermès, has now turned its attention to LVMH. This summer, the investigating judge interviewed Jean-Jacques Guiony, who was the group’s CFO at the time and now runs the luxury giant’s wines and spirits division, Moët Hennessy.
The British brand Joseph has just cancelled its London fashion show at the last minute. Glitz understands that its Japanese owners, Onward Holdings, are looking to sell the label.
The consultancy giant, which has been acting as administrator for the London department store since it went into administration this summer, was previously Harvey Nichols’ financial adviser and has ruled that its consultancy fees should be paid as a matter of priority. It's a conflict of interest that's proving controversial.
Potential buyers of the luxury Rohan-Montbazon townhouse in the heart of the French capital have been put off by tensions among the owners and the poor state of certain parts of the property. But if the sale does go through, a Catholic congregation will stand to pocket several million euros.
Owned by the Sultante of Brunei's Dorchester Group, the luxury Parisian establishment is providing a wide range of services for those who stay in the city's Golden Triangle, whether they live there year-round or are merely passing through.
The designer has scored an initial victory against her previous associates, with whom she is embroiled in a protracted legal battle. But she did not emerge from court entirely unscathed.
The Puig group, which just acquired ISDIN for more than a billion euros, can count on a low-profile growth market: Russia. Glitz has gained access to the results of its Moscow-based subsidiary, whose sales and profits have soared since the start of the war in Ukraine, all in the utmost secrecy.
Having discovered that its products are being sold outside its exclusive distribution network, the luxury fashion house is trying to track down the suppliers who have been selling its merchandise on the grey market. Its investigations should soon bear fruit thanks to a recent court ruling.
The Paris-based judicial investigation into the misappropriated assets of Hermès heir Nicolas Puech has summoned the Geneva financiers who, in one way or another, collaborated with late wealth manager Eric Freymond.
Designed to make fashion more accessible, the watch party concept pioneered by Elias Medini is now being overseen by the PR agency Lucien Pagès.
The Arnault family’s stake in LVMH, long held through three nested companies, will be consolidated into a single holding company in early 2027. This simplification has knock-on effects for the respective roles of family members.
Chanel’s former creative director is publishing a bittersweet memoir reflecting on her career, just as her successor is set to present his second ready-to-wear show for the Rue Cambon fashion house at Paris Fashion Week.
The Banque de France has just put two mansions on the chic Paris boulevard on the market: the Varengeville and Amelot de Gournay properties, which house a Latin American diplomatic and cultural centre. But the complicating factor is that their extensive gardens extend onto neighbouring properties.
Having recently disrupted New York Fashion Week, the animal rights organisation is planning to do the same in Paris this week, targeting the LVMH-owned Dior for its use feathers. Stella McCartney is right behind the campaign, despite LVMH having until recently held a major stake in her fashion company.
Since Covid, ultra-luxury property developments bearing brand logos have been shooting up along the South Florida city's seafront. But despite all the glittering prototypes and dreamy triplex apartments, many of the cranes have now come to a standstill and the lawyers have moved in. Four of Miami’s most prestigious towers are mired in repossessions and legal actions.
Taking advantage of the downward slide in Kering’s share price, the asset management firm Causeway, which has a reputation for engaging with the management of the firms it invests in, recently increased its stake in the French luxury-goods group to more than 5%. A move that comes in the midst of tricky transitions in the creative direction of both Saint Laurent and Balenciaga.
The questioning this summer of LVMH veteran Jean-Jacques Guiony by the judge investigating Nicolas Puech’s missing Hermès shares threw up some new revelations. The former CFO of Bernard Arnault’s group addressed among other things LVMH's links with the principal suspect in the Hermès affair, Éric Freymond.
As chairman of the fashion group's supervisory board, a director of several family-owned holding companies, and an adviser to the luxury sector, the chartered accountant and contemporary art lover occupies a position in Italian fashion that is as discreet as it is central.
Though the Swiss wealth manager tended to plough his clients’ money into phantom funds, he invested his own wealth into tried-and-tested financial vehicles. One of them is now questioning where these funds came from, implying that his widow may have benefited from Freymond's dubious dealings.
Aevum Capital will add another string to the bow of Watine, who is also an art dealer and sits on the supervisory board of Agache, one of the Arnault family’s holding companies.
After 18 years of losses, the brand has made its first profit, which it eagerly publicised in the summer. In its financial statement, the label attributes this turnaround in part to the Netflix documentary series about its founder.
The Puig group, which just acquired ISDIN for more than a billion euros, can count on a low-profile growth market: Russia. Glitz has gained access to the results of its Moscow-based subsidiary, whose sales and profits have soared since the start of the war in Ukraine, all in the utmost secrecy.
Having discovered that its products are being sold outside its exclusive distribution network, the luxury fashion house is trying to track down the suppliers who have been selling its merchandise on the grey market. Its investigations should soon bear fruit thanks to a recent court ruling.
The Paris-based judicial investigation into the misappropriated assets of Hermès heir Nicolas Puech has summoned the Geneva financiers who, in one way or another, collaborated with late wealth manager Eric Freymond.
Designed to make fashion more accessible, the watch party concept pioneered by Elias Medini is now being overseen by the PR agency Lucien Pagès.
The Arnault family’s stake in LVMH, long held through three nested companies, will be consolidated into a single holding company in early 2027. This simplification has knock-on effects for the respective roles of family members.
Chanel’s former creative director is publishing a bittersweet memoir reflecting on her career, just as her successor is set to present his second ready-to-wear show for the Rue Cambon fashion house at Paris Fashion Week.
The Banque de France has just put two mansions on the chic Paris boulevard on the market: the Varengeville and Amelot de Gournay properties, which house a Latin American diplomatic and cultural centre. But the complicating factor is that their extensive gardens extend onto neighbouring properties.
Having recently disrupted New York Fashion Week, the animal rights organisation is planning to do the same in Paris this week, targeting the LVMH-owned Dior for its use feathers. Stella McCartney is right behind the campaign, despite LVMH having until recently held a major stake in her fashion company.
Appointed in the spring to run LVMH’s watch division (except for Tag Heuer), Bernard Arnault’s youngest son has hatched a strategy to target the ultra-luxury end of the market. The guinea pig looks like being Zenith, the smallest of the watch brands.
Despite an expensive extension in 2023, McQueen’s biggest flagship of all, located in Paris’s Rue Saint-Honoré, closed down this summer with barely a murmur. In Milan, London and New York, it’s the same story as the ailing Kering label beats a retreat on every front.
Max Mara plans to replace models, photographers and stylists with artificial intelligence for much of the imagery accompanying its next autumn-winter collection, keeping humans only for its main campaign. This is a radical decision that is shaking up the brand’s entire ecosystem of suppliers.
The Bettencourt Meyers family gets over €1bn a year from its nearly 35% stake in the cosmetics giant. These sums stay on the accounts of the dynasty's family office, following a model also used by other major French luxury families.
Three years after being dragged down by China, Estée Lauder is bouncing back thanks to its sales there. Its annual report shows the US luxury beauty giant has placed its fate in the hands of the very market that nearly brought it down, even as legal proceedings are still ongoing.
LVMH's flagship brand won its case against Molly Tea, which it had accused of copying its floral logo, but its lawsuit against the Chinese brand sparked a backlash. Chinese consumers are boycotting Louis Vuitton such an extent that the French brand has had to close shops in China ahead of schedule.
A US court is set to rule on the legality of a common method of luring consumers: crossing out one price and displaying a second, lower figure to misleadlingly suggest that a product is on sale.
As chairman of the fashion group's supervisory board, a director of several family-owned holding companies, and an adviser to the luxury sector, the chartered accountant and contemporary art lover occupies a position in Italian fashion that is as discreet as it is central.
Though the Swiss wealth manager tended to plough his clients’ money into phantom funds, he invested his own wealth into tried-and-tested financial vehicles. One of them is now questioning where these funds came from, implying that his widow may have benefited from Freymond's dubious dealings.
Aevum Capital will add another string to the bow of Watine, who is also an art dealer and sits on the supervisory board of Agache, one of the Arnault family’s holding companies.
After 18 years of losses, the brand has made its first profit, which it eagerly publicised in the summer. In its financial statement, the label attributes this turnaround in part to the Netflix documentary series about its founder.
Scheduled to open back in 2020, the building currently under construction by LVMH on the site of the capital's Musée National des Arts et Traditions Populaires, near the Fondation Louis Vuitton, will serve as a showcase for the group’s savoir-faire. It will further expand the luxury giant’s already substantial presence in the woodland park.
Appointed in the spring to run LVMH’s watch division (except for Tag Heuer), Bernard Arnault’s youngest son has hatched a strategy to target the ultra-luxury end of the market. The guinea pig looks like being Zenith, the smallest of the watch brands.
Despite an expensive extension in 2023, McQueen’s biggest flagship of all, located in Paris’s Rue Saint-Honoré, closed down this summer with barely a murmur. In Milan, London and New York, it’s the same story as the ailing Kering label beats a retreat on every front.
Max Mara plans to replace models, photographers and stylists with artificial intelligence for much of the imagery accompanying its next autumn-winter collection, keeping humans only for its main campaign. This is a radical decision that is shaking up the brand’s entire ecosystem of suppliers.
The Bettencourt Meyers family gets over €1bn a year from its nearly 35% stake in the cosmetics giant. These sums stay on the accounts of the dynasty's family office, following a model also used by other major French luxury families.
Three years after being dragged down by China, Estée Lauder is bouncing back thanks to its sales there. Its annual report shows the US luxury beauty giant has placed its fate in the hands of the very market that nearly brought it down, even as legal proceedings are still ongoing.
LVMH's flagship brand won its case against Molly Tea, which it had accused of copying its floral logo, but its lawsuit against the Chinese brand sparked a backlash. Chinese consumers are boycotting Louis Vuitton such an extent that the French brand has had to close shops in China ahead of schedule.
A US court is set to rule on the legality of a common method of luring consumers: crossing out one price and displaying a second, lower figure to misleadlingly suggest that a product is on sale.
The Catalan beauty giant is preparing to wind down Nina Ricci’s heavily loss-making fashion business. The move fits a group strategy in which catwalk shows serve only to give its fragrances visibility.
Kering’s chief operating officer Jean-Marc Duplaix and its former deputy CEO Francesca Bellettini received substantially increased performance bonuses this year.
The shareholding family is already contending with the threat of legal action by alleged victims of Mohamed al-Fayed, and now the luxury hotel on Place Vendôme in Paris is in conflict with the French tax authorities.
The wine, perfume and hotel assets of the Swiss branch of the banking dynasty are currently scattered and loss-making. The plan is to consolidate them in a single vehicle and try to get them out of the red.
Scheduled to open back in 2020, the building currently under construction by LVMH on the site of the capital's Musée National des Arts et Traditions Populaires, near the Fondation Louis Vuitton, will serve as a showcase for the group’s savoir-faire. It will further expand the luxury giant’s already substantial presence in the woodland park.
The concept store and incubator founded by the Japanese fashion label Comme des Garçons is in difficult financial straits. Though it has set fashion trends for two decades, the group’s French subsidiary has lost over €17m in the last two financial years. To keep its head above water, its founders Rei Kawakubo and Adrian Joffe have been cutting costs as well as staff.
While mulling a drastic reduction in production at Zenith, Bernard Arnault’s youngest son, who heads up LVMH’s watch division, has brought an industry heavyweight on board at the luxury watchmaker Hublot. The rationale behind this recruitment is the subject of much speculation in-house.
Belvédère Productions, Serge Moati’s production company, was recently wound up. Pinault was one of its shareholders, and the company had produced a flattering documentary about him.
Recurring financial difficulties could soon force Claire Despagne’s high-end beauty company – backed by a host of industry heavyweights – to close down.
The Catalan beauty giant is preparing to wind down Nina Ricci’s heavily loss-making fashion business. The move fits a group strategy in which catwalk shows serve only to give its fragrances visibility.
Kering’s chief operating officer Jean-Marc Duplaix and its former deputy CEO Francesca Bellettini received substantially increased performance bonuses this year.
The shareholding family is already contending with the threat of legal action by alleged victims of Mohamed al-Fayed, and now the luxury hotel on Place Vendôme in Paris is in conflict with the French tax authorities.
The wine, perfume and hotel assets of the Swiss branch of the banking dynasty are currently scattered and loss-making. The plan is to consolidate them in a single vehicle and try to get them out of the red.
The late Belgian watch seller known as Gino, who ran the renowned Ginotti store in Antwerp for 20 years, was the first investor in the ultra-luxury watchmaker F.P. Journe. His family is still a shareholder in the company, alongside Chanel.
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The restructuring of its Montblanc and Minerva facilities will involve staff transfers and some redundancies, as well as a refocusing on the very top end of the market.
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Despite an expensive extension in 2023, McQueen's biggest flagship of all, located in Paris's Rue Saint-Honoré, closed down this summer with barely a murmur. In Milan, London and New York, it's the same story as the ailing Kering label beats a retreat on every front.
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A US court is set to rule on the legality of a common method of luring consumers: crossing out one price and displaying a second, lower figure to misleadlingly suggest that a product is on sale.
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