Profit warnings not withstanding, Gucci is in retail growth mode in Southern California with a mammoth expanded two-story store now open at South Coast Plaza and a new boutique set for late June at The Grove shopping center in Los Angeles. After nine months of construction at South Coast Plaza in Costa Mesa, Calif., the … Read more
PARIS — Kering chairman and chief executive officer François-Henri Pinault hopes the French luxury group’s turnaround efforts will start bearing fruit by the end of this year. “We are determined to deliver improvements at the end of this year already and in 2025,” he said at the company’s annual general meeting Thursday in Paris. Kering … Read more
MILAN – As it prepares for a new phase in its history, Valentino reported a slowdown in its performance last year. Citing a “challenging global context for the luxury industry,” the Rome-based couture house on Tuesday morning reported a 5 percent decrease in 2023 revenues to 1.35 billion euros, including impacts from changes in exchange … Read more
FIT FOR MCQUEEN: As part of its “transformation strategy” under new designer Seán McGirr, Alexander McQueen has named Gaelle Collet its chief brand and communications officer, WWD has learned. She starts on May 15 and reports to Gianfilippo Testa, president and chief executive officer of the London-based fashion house. Previously, Collet spent five years at … Read more
Updated April 16, 4:41 p.m. EST. PARIS – Luxury spending is slowing as aspirational customers tighten their purse strings, but LVMH Moët Hennessy Louis Vuitton has no plans to trim its prices to woo back this once-booming cohort. Instead, it is playing the waiting game. The French luxury conglomerate said group sales fell 2 percent … Read more
LONDON — Despite China‘s challenging economic outlook, Shanghai is introducing a series of measures in the name of “First in Shanghai” to incentivize leading local and international brands to host major events and make Asian retail debuts in the city. During a press conference held Thursday at the regenerated historic shopping compound Zhang Yuan, Zhu … Read more
The economic statistics in March are usually seen as one of the most important indicators for the economy’s trends throughout the year in China since they not only directly reflect current conditions, but also indicate future trends to a certain extent. The government work report of 2024 delivered at the annual NPC and CPPCC sessions … Read more
MILAN — One would expect nothing but poetry from Alessandro Michele on his new role as creative director at Valentino. Addressing his new appointment, the designer celebrated “the beginning of spring, the life that is regenerating and the promise on new blossoms” as he expressed his “joy, to pay tribute to it: the smiles kicking … Read more
MILAN – Valentino has confirmed the arrival of Alessandro Michele as creative director of the Rome-based couture house. He succeeds Pierpaolo Piccioli, who exited the brand on Friday after 25 years. Michele left his role as creative director of Gucci in November 2022. On Friday, WWD was the first to report that Piccioli was exiting … Read more
MILAN — Valentino and Pierpaolo Piccioli are parting ways, according to market sources. Responding to WWD, Valentino issued the following: “I am grateful to Pierpaolo for his role as creative director and for his vision, commitment and creativity that have brought the Maison Valentino to what it stands for today,” said chief executive officer Jacopo … Read more
