By Tocca x Shop Black Caviar

Victoria’s Secret & Co. Returns to the Runway. Six years after its last fashion show, the beleaguered lingerie giant staged a comeback. It was as much a celebration of the brand’s past as it was a signal of where it’s going in the future. Held inside a cavernous warehouse at Brooklyn’s Navy Yard, a parade of supermodels hit the runway donning the brand’s signature lace and mesh sets, alongside performers Lisa (of the K-pop sensation Blackpink), Tyla and Cher, who closed the show with a full dance squad and empowerment anthems like “Believe” and “Strong Enough.” In many ways, it felt like the same Victoria’s Secret fashion show from years past: There were consistent references to the brand’s aughts height, from the moment Gigi Hadid opened the show in a large pair of pink feathered wings that grew as she walked down the runway — the first of several appearances by former Angels including Alessandra Ambrosio, Adriana Lima, Behati Prinsloo, Jasmine Tookes, Candice Swanepoel and Tyra Banks. The entire space was bathed in the same soft pink hue that has long covered its stores, and the featured looks were elaborate, with tulle capes, lacy details and of course, plenty of wings. But look closely, and differences appear. From the moment before the lights dimmed, a voiceover from Banks declared that at this year’s show, women would “take the reins and the spotlight.” There was more diversity, with models of varying gender identities, racial backgrounds, ages and body types. And while there were plenty of skin-baring bra-and-thong sets, there were also #dresses, #leggings and even #pyjamas. Victoria’s Secret is still by far the dominant player in its category — its buzziest competitor, the Kim Kardashian-owned SKIMS operates just five storefronts compared to Victoria’s Secret’s 1,370 plus. But its market share has diminished over the past decade as cultural norms shifted away from the brand’s male-fantasy image and women began to prioritise #comfort over sexiness. With this year’s show, the intention was to present something through a female gaze. Sylvester said they also made an effort to reflect the way women buy intimates today — prioritising comfort over sex appeal. While there still was plenty of the latter, there was also more of an embrace of the former. For example, the brand sent a pair of pyjama pants down the runway for the first time (paired with a bedazzled bralette on longtime VS model Taylor Hill). Rather than focusing first on building a fantasy with over-the-top garments that never make it to store shelves, the items on the runway this year are part of the brand’s holiday collection, with a bit of added “flair to make sure it’s runway worthy.” #victoriasecret #runwayshow #fashion #nyc #fashionweek #toronto #oakville #womenswear #womenempowerment #models

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LVMH Results Spell Trouble for Luxury Sector. Fashion revenue at the Louis Vuitton, Christian Dior Couture and Loewe owner fell 5 percent in the third quarter, badly missing estimates. LVMH’s revenue miss “is a clear negative for the industry ahead of the third-quarter reporting season and in the run-up to key Christmas and Chinese New Year trading periods,” Citi analyst Thomas Chauvet said. Shares in the group fell 7 percent when Paris markets opened Wednesday. Group-wide, LVMH’s third-quarter sales fell 3 percent on an organic basis to €19.1 billion ($21 billion). #LVMH said the numbers represented “good resilience in the current context.” After gradually cooling from post-pandemic highs, #luxury demand has dropped sharply across key regions this year. Macroeconomic headwinds and aggressive price hikes that turned off less wealthy buyers have made it hard for fashion brands to keep up momentum, particularly as consumers shift their spending back to other priorities like #health, #wellness and #travel. Brand Challenges Investors have questioned whether LVMH can deliver a soft landing at Christian Dior after the brand nearly quadrupled sales from 2017 to 2023. An investigation into the French couture house’s Italian supply chain risks further dragging down demand for LVMH’s second-biggest label. LVMH does not break out sales for individual brands. LVMH’s watches and jewellery unit, which also includes #Bulgari, TAG Heuer and Hublot fell by 4 percent. LVMH’s retailing division, which operates #Sephora, and the perfume and cosmetics division dominated by Parfums Christian Dior both eked out modest growth, with sales rising 2 and 3 percent respectively. LVMH’s wine and spirits division was hardest hit, with sales falling 7 percent as the group struggles to get cognac sales back on track in the key Chinese market, where the product has become embroiled in a trade war with Europe. A poor champagne harvest could provide further headwinds next year. #conglomerate #earningsreports #fashionbusiness #retail #watches #leathergoods #beveragemarket #china #paris #toronto #bytocca #oakville #blackcaviarfashion

Happy Thanksgiving. Lounging in style with the DVF (Diane von Furstenberg) Brogan Cardigan. Available in store. #dvf #cardigan #holiday #sweaterweather #ootd #luxuryfashion #nyc #oakville #toronto #bytocca #blackcaviarfashion #fall24

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Why Mytheresa Bought YOOX NET-A-PORTER: Mytheresa on Monday announced it would acquire its distressed competitor Yoox Net-a-Porter (YNAP) from Swiss conglomerate Richemont, perhaps the most significant deal yet in a year of upheaval for luxury retail that has left few of the category’s major players untouched. Richemont said it would recapitalise Yoox Net-a-Porter to have a cash position of €555 million ($609 million) and no debt, as well as providing a rotating credit facility for the unit. The #Cartier owner will eventually receive a 33 percent stake in the combined entity with #Mytheresa. The deal, slated to close in the first half of 2025, aims to bring together Germany’s Mytheresa, which has built a profitable business catering to ultra-high-net-worth shoppers, with the larger Net-a-Porter, which set the template for online #luxury retail when it launched in the early 2000s with its mix of high-end merchandise and more accessible offerings. The companies will continue to exist as two standalone e-commerce sites. What Lies Ahead: Mytheresa has avoided the worst of the luxury e-commerce bust. But it has its own problems: with €914 million in gross merchandise volume — sales on its marketplace — in the year ending in June, it is smaller than its chief rivals. Its adjusted earnings before interest, taxes, depreciation and amortisation accounted for only 3 percent of net sales during that period. Even after surging on Monday, the company’s stock is down over 70 percent since its initial public offering in January 2021. The YNAP merger, however, gives Mytheresa a chance to change that. The two companies’ combined GMV reaches nearly €3 billion, close to one-time leader Farfetch’s sales at its peak in 2022. Mytheresa plans for that to grow to €4 billion by 2029, the company’s finance chief Martin Beer said on an investor call on Monday. Becoming a Leader: Mytheresa’s deal with YNAP is its chance to generate the type of sales that would make it the biggest company in luxury e-commerce. Mytheresa will access YNAP’s distribution centres in China and the US, where it is seeing its largest sales growth. The company, which typically carries a smaller number of brands than its competitors, will enjoy the increase in sales volume from YNAP’s greater number of labels without compromising its curatorial focus. Mytheresa plans to refocus Net-a-Porter by migrating its operations, along with the latter’s menswear site Mr. Porter, onto Mytheresa’s platform, which boasts capabilities like identifying potential high-spending clients based on browsing activity. YNAP’s off-price division that consists of Yoox and The Outnet will operate separately and remain on the company’s existing platform, Kliger said. #retail #mergersandacquisitions #onlinecommerce #ecommerce #fashionbusiness #etailer #business

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What Fashion Needs to Know About Gen Alpha’s Social Media Restrictions. At least 15 US states have enacted policies regulating cell phone usage among teenagers and children, pointing to the youth mental health crisis and other potential harms of incessant access to the internet. For marketers, the #laws pose a barrier to reaching young consumers as well as an opportunity to get to know this cohort better. If there is a term that is associated with Gen Alpha, the cohort of young people born after 2010, it would be “chronically online.” Parents, teachers and children’s advocates have long voiced concerns about the psychological repercussions of such behaviour, and finally, the government is stepping in. Lawmakers across the #US are proposing and passing legislation that would restrict children’s access to their phones and to social media platforms such as #Instagram, with most citing a US Surgeon General warning that the devices distract students in class and can cause mental health harm. Countries including Australia, Malaysia, Pakistan, France and Singapore have announced intentions to propose similar phone and social media restrictions for children. Last year, Australia enacted a ban on cellphone use in public schools. For marketers, these laws will have far-reaching effects on how — and whether — they can now reach this group of young consumers as they gain purchasing power. What does this mean for companies advertising on these platforms? In recent years, as social media platforms have embraced the algorithmic approach to displaying content to users — rather than just displaying content from the people they follow — they’ve allowed advertisers and influencers to reach a new and wider swathe of consumers, including children and teens. Age restrictions on algorithm-generated content will likely reverse this opportunity for brands, experts say. Additionally, with increased restrictions on how brands collect data on young people being imposed, it will be more difficult for brands to track how Gen Alpha interacts with their brands and products online. Brands looking to service this consumer will have to rely on “old-school” methods of advertising. The policies will force brands to get to know their consumers better. #marketing #fashion #socialmedia #genalpha #online #mentalhealth #usa #france #australia #canada #bytocca #oakville #toronto

Watches of Switzerland Group PLC Acquires HODINKEE, Inc. The deal aims to strengthen the British company’s online presence in the US, leveraging Hodinkee’s strong editorial content despite the latter’s struggles in the used watch market. The British company, a top seller of #Rolex watches in the country and a major retailer in the US, will capture greater market share, particularly online in the US, following the deal, Watches of Switzerland chief executive officer Brian Duffy said in an interview. Financial terms were not disclosed. The sale marks an end to New York-based Hodinkee’s troubled entry into online used watch sales. Founded in 2008, the company produces content on watches that has helped fuel an increase in consumer interest in mechanical and premium timepieces, especially in the US, which overtook China as the biggest export market for Swiss #watches in 2021. Hodinkee also sells watch and #jewellery insurance and its website attracts 22.2 million annual unique visitors and has more than 1 million social media followers, the companies said Friday. In 2021, Hodinkee made a big move into selling used watches by purchasing US online seller Crown & Caliber during a surge in prices for used #luxury watches. The deal lifted annual revenue above $100 million. The online #retail business, however, proved to be a loss-maker. After used watch prices began falling sharply in April 2022, Hodinkee moved to restructure operations and cut jobs. Watch retailers and online trading platforms use editorial content on time pieces to drive interest in the products they sell. Chrono24 GmbH owns a majority stake in Fratello, a European-based watch website that competes with Hodinkee. The 1916 Company, a US-based new watch retailer and online seller of pre-owned watches including Rolex CPO, also produces its own editorial content to help drive sales. #luxurywatches #lvmh #tombrady #chrono24 #fashion #mergers #acquisitions #americanbusiness #englandbusiness