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Design fashion week
Fashion brands like Saint Laurent, Thom Browne, Balenciaga, and Loro Piana are making their mark in the upcoming design week. According to Carlo Capasa from Cnmi: «Milan is a center of attraction. The synergy between designers and furniture is a valuable asset for Italy». Loewe, Hermès, and Diesel are among the participants. Meanwhile, Moncler is set to take over Milan’s Central Station
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Canali celebrates its 90th anniversary with renovations
«We remain a family-owned business», Stefano Canali, the president and ceo of the menswear company, explained. The company aims for a revenue of 230 million euros in 2024, representing a 10% increase. In anticipation of the celebrations in june, the new concept for the store on Via Verri in Milan will be unveiled on friday. The next renovation is planned for Beverly Hills later this year
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The luxury sector is witnessing a dividend race
The increase in revenues across the luxury sector in 2023 has resulted in higher profits, paving the way for increased shareholder remuneration. Apart from Kering and Ferragamo, dividends have risen since last year. Hermès takes the lead with a dividend of 15 euros. «However, the sector still maintains relatively low dividend yields», Kearney explains to MFF
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Milan celebrates Dolce&Gabbana
«We narrate the love for the beauty generated by human touch», Domenico Dolce and Stefano Gabbana, the protagonists of the exhibition taking place at Milan’s Palazzo Reale, explain. Across ten chapters, the Designers craft immersive experiences that pay homage to Luchino Visconti, Teatro alla Scala, tailoring, and Sicilian baroque. «Starting from this magnificent city was imperative»
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Miroglio unveils the key strategies for the relaunch of Trussardi
The revival plan involves appointing a design and product director for the return with the fall-winter 2025 collection, leveraging group synergies, and a focus on Italy, Eastern Europe, and the Middle East. These are the key strategies for the relaunch of Trussardi, acquired for 35 million euros. «Our focus now is to maximize the brand’s potential while remaining vigilant for further market opportunities», Alberto Racca, ceo of the Alba-based group and of the newly acquired company, explains
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The Italian footwear industry is facing critical challenges
In the footwear industry, a red alert persists as the sector, generating 14.6 billion euros in revenue, experiences ongoing attrition, with nearly 95% of this revenue stemming from small and micro-enterprises. In three years, the sector lost 560 companies. PwC predicts a heightened push towards consolidations, while Assocalzaturifici is establishing a platform to foster synergies with brands in dominant positions
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Rents on the Champs-Élysées have surged by 57%
In anticipation of the Olympic Games, average rental prices on the renowned Parisian avenue have surged to 16,000 euros per square meter over the past two years, with peaks of 22,000 euros, as reported by BNP Paribas real estate and Cbre. Luxury brands are fiercely competing for prime spots near the Arc de Triomphe. However, the most noteworthy development is the arrival of sports brands, with Adidas and newcomers JD Sports and Lululemon entering the scene
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Anti-crisis luxury in China
Louis Vuitton and Loro Piana, but also Hermès and renowned Italian brands like Prada, Miu Miu, and Moncler, are among the most coveted fashion brands among Chinese consumers in 2024, according to analysts. Burberry and Gucci are facing challenges in regaining momentum. «In the jewelry sector, Richemont’s maisons are leading the way», Barclays explains
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TikTok takes on Meta in the social shopping segment
«The phenomenon has already exceeded 1.3 trillion dollars annually», PwC explained to MFF. By 2030, this figure is expected to surge to 8.5 trillion. Beauty and fashion are the best-selling categories. While Facebook and Instagram hold 47% of the market, the Trendy Beat feature on the Chinese social media platform, which aims to internally produce goods, has Amazon and Shein concerned
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Brunello Cucinelli creates his lifestyle through eyewear
«While our brand primarily centers around ready-to-wear, which accounts for 85% of our offerings, and I am steadfast in maintaining this focus, glasses and fragrances symbolize our overall taste identity», the entrepreneur explained to MFF. He unveiled his first collection of sunglasses and eyeglasses in Rome with an event, a result of the ten-year collaboration initiated in 2023 with EssilorLuxottica
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Football weighs heavily on Nike’s dismal year
According to analysts consulted by MFF, this fiscal year is expected to be the worst since 1999. There is anticipation for tomorrow’s data release, with expected cuts of 2 billion dollars and 1,600 layoffs. Meanwhile, competitors such as Hoka and Roger Federer’s On brand are gaining momentum. Adding to the complications, FC Barcelona may terminate its 26-year-long partnership. Although the current contract, valid until 2028, fetches 105 million euros per season, Puma could offer 216 million euros
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Luxury bonds
Over the past year, prominent luxury brands such as Lvmh, Kering, and Tapestry have ventured into the bond market with a series of high-yield bond issuances. The primary objectives are to finance extraordinary operations while communicating to the market the achievement of sustainability goals
