Luxury Headlines – 25/11/2024
Luxury Headlines – 25/11/2024
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Kering Appoints New Saint Laurent and Balenciaga CEOs
Kering Group has appointed Cédric Charbit as the new CEO of Saint Laurent and Gianfranco Gianangeli as the new CEO of Balenciaga, effective January 2, 2025. Both will report to Francesca Bellettini, Kering’s Deputy CEO, who is now in charge of brand development and overseeing the development of all the group’s fashion, leather goods, and jewelry houses.
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Le Saut Hermès Returns to the Grand Palais
Hermès will host the 15th edition of Le Saut Hermès at its iconic original location, the Grand Palais in Paris, next year from March 21 to 23. This prestigious equestrian event was temporarily moved to Grand Palais Ephémère due to extensive renovations at the original location in preparation for the Paris 2024 Olympic and Paralympic Games. The event will bring together world-class riders to compete in various 9 showjumping classes. In addition to the main competition, Hermès will showcase the craftsmanship of its saddlers and offer activities for all ages. The event will also feature a special performance by the Académie Équestre de Versailles.
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Dolce & Gabbana Partners with Skims
Following a successful personal collaboration with Kim Kardashian in 2022, Dolce & Gabbana has announced a new partnership with her shapewear brand, Skims. The collection, which features leopard print, sheer fabrics, and corsetry, merges the Italian fashion house's signature "dolce vita" aesthetic with Skims' body-sculpting silhouettes. The campaign, shot by Nadia Lee Cohen, features Kim and Kourtney Kardashian and evokes a vintage cinematic feel.
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Mytheresa.com Reports Solid Q1 2025
Mytheresa.com has reported a 7.6% increase in sales to €201.7 million for Q1 2025. The company's focus on full-price sales has significantly improved profitability, with adjusted EBITDA margin reaching 1.4%. The US saw double-digit growth of 14% (the region accounts for 20% of sales), while Europe grew 9%, with Southern European markets outperforming Northern ones. Mytheresa has reaffirmed its full-year outlook, expecting sales growth of 7 to 13% and an adjusted EBITDA margin of 3 to 5%. The company's strategic acquisition of YNAP from Richemont is expected to strengthen its position in the luxury e-commerce market. By focusing on its core proposition and investing in key markets like the US and China, Mytheresa aims to maintain its leadership position and drive sustainable growth.
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Prada and Miu Miu Launch Virtual Snapchat Collections
Prada and Miu Miu have introduced the first-ever virtual collections for Snapchat's Bitmoji avatars. Users can dress their avatars in iconic pieces from these luxury fashion houses, including the Small Galleria and Wander Bag, as well as other accessories like caps, cardigans, and mini-skirts. These digital creations can be integrated into various aspects of the Snapchat platform, including profile pictures.
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Bugatti Debuts First Home Boutique in Dubai
Bugatti has expanded its luxury offerings by opening its first home boutique at The Dubai Mall Zabeel in collaboration with Luxury Living Group and The Mattress Store. This exclusive space showcases a curated selection of Bugatti furniture, reflecting the brand's iconic design language and meticulous craftsmanship. The collection includes pieces from the 2024 releases and a selection of iconic items from previous collections.
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