Luxury Headlines – 17/3/2025
Luxury Headlines – 17/3/2025
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Dario Vitale Replaces Donatella Versace as Versace’s New Creative Director
Versace has appointed Dario Vitale, Prada-owned Miu Miu's former design director, as its new chief creative officer succeeding Donatella Versace, effective April. Donatella Versace, after 30 years, will become the chief brand ambassador focusing on philanthropy and Versace Foundation work. Vitale's appointment comes amid reports of a potential Prada Group acquisition of Versace from Capri Holdings for $1.5 billion. Vitale's success at Miu Miu, which experienced an 84% increase in sales last quarter, is expected to bring a fresh perspective to Versace.
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LVMH Announces Leadership Reshuffle Across Top Brands
LVMH has announced significant leadership modifications across its key brands for the year 2025. Damien Bertrand, CEO of Loro Piana, will move to Louis Vuitton as deputy CEO, overseeing product divisions and strategic operations. Frédéric Arnault will succeed Bertrand at Loro Piana, while Pierre- Emmanuel Angeloglou, currently at Fendi, will become CEO of Christian Dior Couture. These appointments, effective between March and June 2025, reflect LVMH's strategy to cultivate internal talent and strengthen its leadership amidst evolving luxury market conditions.
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Estée Lauder Names First-Ever Global Sleep Science Advisor
U.S. beauty group Estée Lauder's flagship brand has established a wellness-focused partnership with Dr. Matthew Walker, author, and professor of neuroscience and psychology at the University of California, Berkeley, as its first-ever Global Sleep Science Advisor. This collaboration aims to enhance the brand's extensive research on nighttime skincare by exploring the connection between sleep quality and skin health. Furthermore, Estée Lauder will be the exclusive beauty partner supporting Dr. Walker's newly formed Global Sleep Education Foundation, which aims to address sleep deprivation through educational initiatives and research.
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Porsche Releases FY2024 Results
The company reported a flattish €40.1 billion in 2024 sales, a 1% decrease from 2023, attributed to strategic pricing and customization amidst challenging markets. Operating profit declined to €5.6 billion, with a 14.1% return on sales, and net cash flow remained strong at €3.7 billion. Porsche will invest €800 million in 2025 to bolster technology, anticipating a 10-12% operating return due to market challenges. Despite this, they aim for a long-term profit margin exceeding 20%, with a medium-term goal of 15-17%.
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Gucci Appoints Demna As Creative Director
Gucci has appointed Demna, Balenciaga's creative director, as its new artistic director, aiming to revitalize the brand after recent sales challenges. Demna, celebrated for his provocative and era-defining aesthetic, will be responsible for reshaping Gucci's brand image and driving sales growth. Demna has an impressive resume, encompassing influential roles at Louis Vuitton, Maison Margiela, co-founded Vêtements brand, and Balenciaga. His final collection for Balenciaga will be presented in July, and his much-anticipated Gucci debut is expected before September.
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Golden Goose Sales Rise Despite Luxury Slowdown
Luxury sneaker brand Golden Goose reported a 13% increase in sales, reaching €654.6 million ($714 million) in 2024, despite a slowdown in the luxury market. This growth was primarily driven by an 18% rise in DTC sales, supported by new store openings, which offset a slight decline in wholesale revenue. The company is aiming for continued expansion in 2025 by entering new markets and has also prepared for potential trade tensions by securing manufacturing capacity in the U.S.
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Orient Express Corinthian Opens Reservations
The world’s largest sailing yacht, Orient Express Corinthian, a project developed by Accor Group and Chantiers de l'Atlantique, will open reservations on March 25th. With suite prices ranging from €16,800 to over €43,000, and exclusive suites available upon request, the 3-masted yacht will accommodate 110 passengers. Guests will enjoy various onboard amenities, including 5 fine-dining restaurants, 8 bars, a rejuvenating spa, a cinema, and much more. The itinerary features visits to Mediterranean destinations, including Cadiz, Lisbon, St-Tropez, Capri, and Portofino.
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Johnnie Walker Unveils Exclusive Whisky Experience
Scottish whisky brand Johnnie Walker has introduced The Johnnie Walker Vault, a new luxury platform offering exclusive whisky experiences to collectors. Beginning March 12th, packages starting £50,000 grant access to private sessions led by Master Blender Dr. Emma Walker. A key feature is the "Private Blend" experience, allowing guests to witness Dr. Walker creating bespoke whiskies in a vault beneath the Edinburgh flagship. This includes Michelin-star dining, a Gleneagles Hotel stay, and a Baccarat decanter. Dr. Walker uses the vault's 500-whisky collection, including rare selections, to craft unique blends, emphasizing the vault's role in sharing exceptional spirits and personal stories. The platform will also feature cultural collaborations, with a couture fashion collection planned for 2025.
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Four Seasons Launches Luxury Tennis Experience with Armani
Four Seasons Hotels and Resorts, in collaboration with Giorgio Armani, launched ‘The Road to The Giorgio Armani Tennis Classic’, a new program that merges luxury hospitality with professional tennis. This initiative offers participants exclusive coaching from tennis champions like Venus Williams and Juan Martín del Potro at 4 Four Seasons properties globally, starting April 11. Winners from these sessions will compete in the Giorgio Armani Tennis Classic in London.
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Selfridges Launches "Obsessions" Retail Experience
Selfridges has launched "Obsessions," a biannual retail concept focusing on trending cultural interests. Starting this spring, they will feature 12 curated "obsessions" like chess and martinis through window displays, product selections, events, and collaborations. The initiative aims to create a community and foster conversations around shared passions. Customers can participate in chess tournaments, dog portrait sessions, film screenings, and workshops, among other activities, designed to bring these obsessions to life.
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