Luxury Headlines – 01/07/2024
Luxury Headlines – 01/07/2024
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LVMH Acquires Luxury Swiss Clock Manufacturer L’Epée 1839
LVMH has expanded its watchmaking division with the acquisition of Swiza SA, the owner of L’Epée 1839, a high-end Swiss watch brand recognized for exceptional watchmaking expertise over the past 185 years. This acquisition adds glamour and unique craftsmanship to the LVMH watchmaking division, led by Frédéric and Bernard Arnault. Known for its unique collaborations with watchmakers like Maximilian Büsser, L’Epée pushes the boundaries with avant-garde clock designs starting at $30,000. Under the LVMH umbrella, more than 80 designers, engineers, watchmakers, mechanics, and employees, along with L'Epée 1839 CEO and Creative Director Arnaud Nicolas, will continue to serve both current and future customers.
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Dries Van Noten Bids Farewell After 30 Years
Belgian designer Dries Van Noten has stepped down as the head of his eponymous label. His final runway show on June 22nd at La Courneuve marked the end of his 38-year design career, which included an impressive 120 shows. While there are no immediate plans for a successor, Van Noten will remain involved with the brand, focusing on less demanding tasks. He will particularly lend his expertise to the fragrance line. In 2018, Spanish fashion holding Puig, which owns Rabanne, Jean Paul Gaultier, and Carolina Herrera, acquired a majority stake in Dries Van Noten and will continue to uphold his legacy while Van Noted remains a minority shareholder, chief creative officer and chairman of the board.
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Regent Seven Seas Presents 2 Ultra Luxury Vessels
The luxury cruise line Regent Seven Seas Cruises, embarks on a new adventure with the construction of two ultra-luxury vessels. The first vessel, named Seven Seas Prestige, is set to launch in 2026 and showcases a sophisticated exterior design hinting at the exclusive amenities and unparalleled services awaiting high-end travelers. Accommodating up to 850 guests, one of the highest space-to-guest ratios in the cruise industry, the Seven Seas Prestige promises a luxurious and intimate experience for each traveler.
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Ferrari Unveils E-Building Facility in Maranello
Ferrari has inaugurated a new e-building facility on its main campus in Maranello, Italy. This LEED Platinum-certified factory, which represents the highest standard of sustainability and energy efficiency, will serve as the central hub for all engine production, including gasoline, hybrid, and the brand's first-ever electric model. Integrating the production of Ferrari’s entire range will enable the reorganization and reallocation of all production activities, allowing for swift adaptation to production needs. Emphasizing sustainability, this environmentally conscious facility will produce all electrical components using renewable energy.
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Catterton Modifies Ownership in Birkenstock
Private equity firm L Catterton, along with a group of Birkenstock executives and employees, are offering 14 million shares in the US footwear brand for sale. After their IPO in October, Birkenstock’s stock price reached its highest point pushing the company's market value to $11.2 billion. The sale of the offered shares, valued at $836.9 million, will leave L Catterton with a controlling stake of 73% in Birkenstock. Proceeds from the sale will go towards employee taxes and loans, with no benefit to Birkenstock itself.
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Bernard Arnault Acquires Stake in Swiss Rival Richemont
Chairman and CEO of luxury giant LVMH, Bernard Arnault, has acquired a stake in Swiss Conglomerate Richemont. This is not the first time Arnault has shown interest in a rival company. In 2010, LVMH became a shareholder in Hermès before releasing the 23.2 stakes in 2014. The LVMH CEO has previously voiced his admiration for Richemont's Jewellery portfolio, with Cartier being on top of the list, fueling rumors of a potential take-over. These rumors have been denied by Richemont chairman Johann Rupert.
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Lanvin Appoints Peter Copping as New Creative Director
Starting in September 2024, Peter Copping will become the new creative director for both womenswear and menswear at Lanvin. Copping has built an impressive portfolio with elite brands such as Balenciaga, Louis Vuitton under Marc Jacobs, Nina Ricci, and Oscar de la Renta, focusing on red carpet and VIP dressing. Since its acquisition by Chinese giant Fosun, Lanvin's creative director role has been in flux. Copping aims to open a new chapter for Lanvin, aligning his mission with the brand's transformation over the past two years. This transformation has redefined Lanvin in contemporary culture through a blend of radical chic and French sophistication.
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