Luxury Headlines – 21/4/2025
Luxury Headlines – 21/4/2025
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Hermès Reports Q1 2025 Results
Hermès reported Q1 results with a revenue growth of +9% Year over year (or 7% at constant exchange rates), reaching €4.1 billion. Geographically, all regions demonstrated growth, with Japan exhibiting the most significant increase at +17%. Europe (excluding France) and France both posted solid growth, with revenue rising by +13% and +14%, respectively. The Americas recorded a +11% increase, while Other Regions rose by +14%. Asia, excluding Japan, reported flat growth of +1%. By métier, Leather Goods and Saddlery led with a +10% increase, followed by Ready-to-Wear and Accessories, at +7%. The Silk and Textiles sector expanded by +5%, while the Perfume and Beauty sector remained stable. The Watches métier experienced a -10% decline. Other Hermès sectors recorded a growth of 6%, with Jewelry being a notable contributor. Hermès remains confident in achieving 2025 revenue growth despite uncertainties, leveraging its model, network, collections, and customer loyalty.
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Tiffany & Co. Opens Largest European Flagship in Milan
Tiffany and Co. has inaugurated its largest European flagship store in Milan, situated within the historic Neoclassical Palazzo Taverna on Via Montenapoleone. This newly designed space by Peter Marino marks a significant shift from Tiffany's previous Milanese locations, showcasing nearly 2 centuries of history through curated artworks and craftsmanship displayed throughout. Envisioned as a "cultural hub," the flagship in Milan features Tiffany's most extensive archival collection. Additionally, the store offers two exclusive salons for VIP clients and a dedicated area for jewelry repair and customization services.
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LVMH Reports Q1 2025 Results
LVMH has reported a modest -2% decrease in overall revenue for Q1 2025, reaching €20.3 billion and representing a -3% organic decline from 2024. Geographically, Europe achieved growth on a constant consolidation scope and currency basis. The United States experienced a slight revenue contraction, while Japan's revenue declined year over year. The rest of Asia performed consistently with the trend seen in 2024. By business group, Wines and Spirits experienced a -8% revenue decrease, whereas revenue in the Fashion and Leather Goods decreased by -4%. Perfumes and Cosmetics and Selective Retailing revenues remained flat, and the Watches and Jewelry division recorded a +1% revenue increase. In an uncertain economic environment, the Group continues to remain vigilant and focused on brand development, product quality and innovation.
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Brunello Cucinelli Releases Q1 2025 Results
Brunello Cucinelli has published its Q1 2025 results, reporting a +10.5% growth in revenues (10% at fixed exchange rates), year over year, reaching €341.5 million. In terms of geographies, the company saw robust sales growth across all regions. The Americas held the largest market share at 36.9% with a +10.3% increase in revenues, while Europe experienced a +10.1% increase with a 35.1% market share. Asia recorded the most significant growth at +11.3%, achieving a 28.0% market share, driven by strong performances in China and other major markets. Across distribution channels, the retail segment experienced an 11.9% increase in revenue, while the wholesale channel recorded an 8.2% increase.
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Chanel Celebrates Chance Eau Splendide in London
Chanel has launched Chance Eau Splendide, its first new female fragrance in 8 years. A special pop-up event will be held on Chance Street in East London from April 25th to May 5th to commemorate this release. This immersive experience invites visitors to explore the new lilac-hued fragrance, priced at £109 for 50ml and created by Olivier Polge. The pop-up will offer fragrance discovery services for the complete Chance collection, interactive games, beauty services, and various photo opportunities, including a Chance Street mural. Chanel will also premiere a new fragrance film starring Angèle, directed by Jean-Pierre Jeunet. A ticketed evening event on May 1st offers fragrance exploration, music, refreshments, and a premium goodie Bag.
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Accor Boosts Luxury Portfolio in India
French hospitality group Accor has unveiled its strategy to enhance its luxury presence in the Rajasthan region of Northern India through a strategic alliance with real estate developer Sukhani Ventures. This collaboration will lead to the creation of 2 distinctive high-end resorts. The Raffles Ranthambore, comprising 63 villas situated near the Ranthambore National Park, and scheduled for a mid-2027 opening. The hotel will cater to adventure-seeking travelers with its proximity to wildlife and exclusive luxury-tented accommodations. The Sofitel Legend Sukh Bagh Jaipur, featuring 260 rooms and 41 suites, is set to debut in the Kukas Amer region of Jaipur in late 2028 and will include extensive gardens and event spaces. These developments mark Accor's growth in India, with the Ranthambore property being its third Raffles and the Jaipur hotel its first Sofitel Legend in the country.
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Coach Becomes Official Partner of WNBA
Coach has established a multi-year partnership with the Women's National Basketball Association (WNBA), becoming the league's official partner. The collaboration will debut at the WNBA Draft Night in New York City, with Coach presenting the WNBA Draft Orange Carpet. As part of the agreement, Coach will feature the narratives of 5 prominent draftees recognized for their impact on and off the court. Throughout the WNBA season, Coach will also participate in key events, including the All-Star Game, and will serve as the presenting sponsor of WNBA Pride.
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Jonathan Anderson Takes the Helm at Dior Men
Jonathan Anderson, the former creative director of Loewe, has been appointed the new artistic director for Dior Men, succeeding Kim Jones. LVMH CEO Bernard Arnault confirmed Anderson will design the next Dior Men show on June 27th. Anderson's departure from Loewe after 11 years was announced in March 2025, with Jack McCollough and Lazaro Hernandez named as replacements.
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