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Italy is back
Starting on Monday, the 22nd Milano Fashion Global Summit, organized by Class Editori, will explore Italy’s return as a leader in the luxury industry among global managers, new business models and alliances. Speakers will feature Prada’s ceo, Andrea Guerra, who will be making his public debut, Minister Urso, Chiara Ferragni, Diego Della Valle, and Lapo Elkann
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MFF Luxury Stock Index is the new industry benchmark to value fashion on the Stock exchange
Analyzing capitalization numbers from over 70 listed luxury companies worldwide, MF Fashion introduces a new industry benchmark. Lvmh, L’Oréal, and Hermès jointly have a capitalization of almost 1 trillion euros. Regarding Italian companies, EssilorLuxottica is prominent, with Prada following. Armani, Otb group, and Dolce&Gabbana stand out outside of the lists
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Quadrivio group’s ceo Binello revealed plans to invest more than 1 billion euros
Out of these, 500 million euros are allocated for fashion, design, and cosmetics brands. «We are soon closing at least three deals through the Made in Italy Fund II, which will be announced shortly», the ceo of the Group of the investment company clarified. As for the brands already under their portfolio, like Gcds, «we plan to go public once they attain the appropriate size»
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Rick Owen’s future
Just ahead of the 30th anniversary of his eponymous brand’s foundation, the Designer recounted his story in a photo compendium by Danielle Levitt. «I always aim to improve, not expand» the Designer said to MFF, expressing his fondness for Italy
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The beauty sector lowers its outlook
L’Oréal’s market cap has risen by 14% since the beginning of the year, reaching 207 billion. Meanwhile, Estée Lauder’s has dropped by 43% and Shiseido’s by 20%. The beauty sector as a whole is suffering due to economic slowdown and decreased consumer sentiment. The upcoming ipo of Douglas, which was initially estimated to have a capitalization of 9 billion, has been affected and is now expected to be valued at 7 billion
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Dolce&Gabbana celebrates the Italian style
«The place where you live is a part of you», Domenico Dolce and Stefano Gabbana said in an interview with MFL-Magazine for Living, who detailed the brand’s Made in Italy projects that encompass furniture, real estate, and the hotel industry
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A century of Colmar
Manifattura Mario Colombo’s brand, which is expected to reach close to 115 million euros by 2023 with a growth rate of 9.5%, is celebrating its centennial by collaborating with artist Joshua Vides for a capsule collection and preparing to open a new store in Milan. «We are not seeking investors. We are bringing in the fourth generation and laying the foundation for the future» ceo Carlo Colombo explained to MFF
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Bulgari’s plans to triple high jewelry
Ceo Jean-Christophe Babin reveals details of Lvmh’s expansion plans to MFF. «The high jewelry division in Rome will triple its workforce from 100 to 300 employees, while the Valenza factory will increase its number of employees from 600 to 1,700». Lvmh’s Serpenti will celebrate its 75th anniversary with an exhibition in Milan and will reopen in Montenapoleone by the end of 2024. «LVMH aims to surpass Cartier with their Made-in-Italy brand»
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Gucci restarts from London
New era of the Kering fashion house in the British capital, where Guccio Gucci started at the Savoy Hotel. The Gucci Cosmos exhibition is now running, featuring Tom Ford, Frida Giannini, Alessandro Michele and Sabato De Sarno works. Gucci opens the new maxi-store in Mayfair along with Europe’s first salon
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Yoox’s founder Federico Marchetti discussed the future of the luxury e-commerce in an interview with MFF
When he sold Ynap to Richemont in 2018, it was valued at 5.3 billion. However, its combined value with Farfetch currently amounts to less than 800 million. «I expected consolidation» the entrepreneur explained to MFF, who is now working with King Charles III on sustainability. When asked about rumors of him heading Armani, he clarified that “I am only an advisor to the Board and such claims are entirely false»
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La Vendemmia di Montenapoleone event hit new record
Yesterday’s event, now in its 14th edition, featured nearly 80 brands. «We have returned to pre-Covid-19 levels», Guglielmo Miani, the leader of the association for top fashion street stores, said. The event will showcase again next week in Rome
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Paris conquers buyers
MFF’s survey of the Paris Fashion Week highlighted the excellent shows of Saint Laurent, Loewe, Dries Van Noten, Rick Owens, and Valentino. Notably, Peter Do’s collection impressed among the younger names. Gabriela Hearst at Chloé and Sarah Burton at McQueen showcased their final collections, with Seán McGirr replacing the latter
