Luxury Headlines – 22/7/2024
Luxury Headlines – 22/7/2024
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LVMH Appoints New CEOs for Tag Heuer and Hublot
LVMH has reshuffled its watchmaker leadership. Julien Tornare, formerly CEO of Tag Heuer, has been appointed CEO of Hublot, taking over from Ricardo Guadalupe. Meanwhile, Antoine Pin, currently general manager at Bulgari Horlogerie, will step into the position of CEO for Tag Heuer.
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Brunello Cucinelli Embraces AI
Brunello Cucinelli, the fashion label known for its ultra-luxe quiet luxury items and for its philosophy of “humanistic capitalism”, unveiled its new AI-powered website brunellocucinelli.ai on Tuesday. The website is powered by Cucinelli’s bespoke AI tool called Solomei AI, which has been in development for the last three years. The plan is to have a full cross-over between the highly immersive and high-touch website and its e-commerce site within one year, with AI-powered suggestions, underscoring the brand and its CEO’s strong belief in the future and power of AI. The company is a proponent of the concept of “human artificial intelligence” and stresses that “the intent is to unite human genius and the power of artificial intelligence”.
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EssilorLuxottica Buys Streetwear Brand Supreme
In a surprising deal worth $1.5 billion, EssilorLuxottica agreed to acquire iconic streetwear brand Supreme from VF Corporation (who also own The North Face, Timberland and Vans), which has been under pressure to sell one of its most iconic assets, explaining the speed of the transaction. This marks the first-ever acquisition of a fashion brand for the eyewear group. Essilor Luxottica, owners of many luxury eyewear brands, including RayBan, plan on accessing a wider swath of Gen Z customers, especially in regions such as China, South Korea, and Japan, and tapping into a new innovative and data-driven spirit through the acquisition of this progressive streetwear brand.
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Bulgari Appoints Laura Burdese As Deputy CEO
Bulgari has promoted Laura Burdese to the newly created position of Deputy Chief Executive Officer, a role in which she will support CEO, Jean-Christophe Babin, effective as of September 1. She is currently Vice President for Marketing and Communications for Bulgari, having joined Bulgari in January 2022.
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Dior Releases Skiwear Collection with Formula 1 Star Lewis Hamilton
Dior is launching a skiwear capsule with British F1 champion Lewis Hamilton. The capsule will be released on October 17, 2024. Dior has also appointed Hamilton as a menswear ambassador. Hamilton is a seven-time F1 champion who helped co-create the collection with men’s creative director Kim Jones. Long-time friends Jones and Hamilton share a love of African artisanry, which helped to inspire the collection.
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