Fortune’s Post

Over four days of celebrations to mark its centenary in 2014, Spain’s biggest beauty products company inaugurated a new headquarters in Barcelona attended by the Iberian nation’s then Prince Felipe and threw a splashy party for more than 1,000 people at the world’s largest art nouveau complex. But in a quieter yet more important marker of that milestone, Chief Executive Officer Marc Puig, a member of the founding family’s third generation, took 50 of his top employees that year to Harvard University — his alma mater — to chalk out a growth path for the company in a case study that was co-authored by Krishna Palepu, a distinguished business school professor, and Puig’s then board member Pedro Nueno. Ten years on, the fruits of that blueprint are evident: With such well-known perfume and fashion brands as Rabanne, Jean Paul Gaultier and Carolina Herrera, revenue at Puig — which presents itself as a smaller yet more luxurious version of France’s L’Oreal — has more than doubled and the group is set to go public in the largest European offering of the year. Read more: https://lnkd.in/efN98s-t

"Exploring the nexus of fashion and commerce in Milan and Como! 🇮🇹✨ Nestled in the heart of Italy, Milan isn't just a fashion capital; it's a powerhouse of innovation and business acumen. From the runways of Milan Fashion Week to the boardrooms of luxury brands, this city thrives on creativity and enterprise. Let's delve into the dynamic intersection of style and economics that defines Milan's allure. #Milan #FashionCapital #BusinessInnovation #ItalianElegance"

My socials have been inundated with videos of the mesmerising Galliano for Maison Margiela Couture show over the past few days. Rightly so, it felt a once in a generation moment that even those with no interest in fashion couldn’t help but appreciate. In stark contrast, Copenhagen Fashion week kicked off earlier this week and it also feels everyone is talking about it. No longer the poor relation to Paris, London, New York and Milan, Copenhagen’s strong moral compass and rigorous focus on ethical sustainability stands out against a global backdrop of political and social unrest and feels more vital than ever. The event was opened by the CFW CEO Cecilie Thorsmark who purposely reminded the audience: “Democracy is not to be taken for granted. In this super scary context, to put it straight, let’s all remind ourselves that from our privileged ground in this industry, we must make the most of our voice, and the most of our platforms for something better.” CFW back this up as well; To show at the event, all brands on its schedule must meet 18 minimum requirements governed by six pillars of ethical business: strategic direction, design, smart material choices, working conditions, consumer engagement and show production. For example, brands have to prove transparency across their supply chain and that at least 50% of their collection made from certified, preferred, upcycled or recycled materials. CFW offsets all carbon emissions from its own activities and has reduced carbon emissions by 50% compared to 2019. Then there is the talent, which are becoming increasingly well recieved – brands such as Saks Potts Stine Goya A/S and OpéraSPORT are all building international followings and gaining momentum with more global buyers at the shows than ever. The big news was that Ganni A/S, the mainstay of the event and true heavyweight didn’t show in favour of delivering other smaller international activations. However, they did the most ‘Ganni’ thing possible and instead had an event that showcased seven up-and-coming labels via its in-house innovation platform Fabrics of the Future, using innovations such as Celium from Polybion, a pioneering alternative to synthetic fabrics made from petroleum, and Savian from BioFluff, a plant-based fur. So, props to Copenhagen and those who travelled to support it. The industry is diversifying and CFW feels an increasing blueprint for positive change. DHR Global #fashionbusiness #fashionnews

LVMH just invested in an 8-year-old leather brand! How does a brand that’s only been around since 2016 catch the eye of LVMH, the world’s most powerful luxury group? Polène has become a sensation, but let’s be honest—there’s more to this story than meets the eye. Here's how they did it... 1️⃣ Fashion DNA: Founded in 2016 by the Mothay siblings, whose great-grandfather, Léon Legallais, launched the iconic French clothing line Saint James in 1889, known for its Breton-stripe shirts. 2️⃣ Quality obsession: Spent 8 months crafting 25 prototypes for their first bag. Inspired by their family's tradition of producing high-quality pieces that age well, they set out to create something special! 3️⃣ Market savvy: They saw a gap in the market between luxury brands and more accessible but less creative options. 4️⃣ Millennial magnet: Minimalist aesthetics that won’t go out of style. 5️⃣ Social media expert: digital-first approach with +2.2 M followers on IG & the hashtag #Polène has garnered +18 M views.🔥 6️⃣ Affordable luxury: European production, fair prices, playful designs. Result? Revenue exploded to €143 million in 2023, doubling YoY! 💰 And it paid off—L Catterton, backed by LVMH, just invested seriously in Polène. Smart move for L Catterton and LVMH? Or is Polène just another fleeting millennial and Gen Z obsession? **** What other brands are nailing the youth market like this? 🐼 Follow Suad Fakih for more insights about the industry! 👻 Repost to support founders in the space! #LuxuryBrands #StartupSuccess #FashionIndustry #LVMH #LCatterton #Business #Innovation #FashionIndustry #Entrepreneurship  #BrandStrategy #AffordableLuxury #DigitalMarketing  #ConsumerTrends #FashionBusiness

LVMH I already wrote about it in my SUNDeLuxe newsletter. First half 2024 for the Fashion & Leather Goods business group recorded organic revenue growth of 1%. Profit from recurring operations was down 6%. The operating margin remained at historically high levels. No growth. Profits down Operating margin high. Group revenues -1% Profit -8% Free cash flow +74% Not encouraging. Not good.This is a financial approach that will have an impact on the group. While Louis Vuitton will open its first restaurant in the newly refurbished Milan very soon at its via Montenapoleone flagship, are we really gonna see very bad days also for the #luxury giant? And Arnault just acquired Value Retail through L Catterton... Is LVMH empire rapidly becoming another giant with clay feet? And, look at how misleading are the titles on the digital press... More in the newsletter next Sunday! https://lnkd.in/di_waFtH

What about fashion fairs? According to Anna Sofie Dolva director of CIFF · Copenhagen International Fashion Fair there are still a great need of such events even though the buying and selling system of #fashion has migrated towards “digital first”. They do however need to operate differently to stay relevant: New brands have a hard time penetrating retailers. CIFF · Copenhagen International Fashion Fair can facilitate 🤝. Creative brands “lack” business skills. CIFF · Copenhagen International Fashion Fair can help 💰 It is hard to combine business and sustainability. CIFF · Copenhagen International Fashion Fair puts light on tools and narratives. 🍀 When brand needs to migrate to partner instead of supplier the physical meeting is key 🔑 CIFF · Copenhagen International Fashion Fair themselves walks the talk: Moving to a 360 degree business partner understanding needs. ⭕️ From transactional physical meet up 2 times a year to a digital yearly platform with a #Coachella for fashion physically. Including other lifestyle industries in the expo such as #furniture and #beauty since this reflects multiretailers assortment. In 5-10 years CIFF · Copenhagen International Fashion Fair will be more of a media platform engaging a community 365 days a year. 🔭 What do I think? That they are much needed AND that #production such as in the form of NOMS should also be added to the offering 🚀

Business in Luxury💼 This newsletter includes all the ups and downs occurred in the luxury industry this week! ✨ #burberry #bvlgari #messikaXestéelauder #sustainability #sustainableluxury

In an ocean of (often forgettable) collabs, it’s easy to get drowned out. But Estée Lauder x Shuting Qiu is an unexpected pairing. Paying homage to China’s guochao trend, its one-of-a-kind finishes create something rare in today’s collab-saturated market: innovation and aesthetics. These are the combinations that truly matter. Latest for Forbes Congrats and thanks to Shuting Qiu as well as Estée Lauder and insights from Yuqing Carolyn Ding https://lnkd.in/e9qsWx52

LVMH Is Considering Options for Marc Jacobs Amid Buyer Interest - LVMH Moet Hennessy Louis Vuitton SE is exploring options for its Marc Jacobs fashion brand amid interest from potential buyers, people with knowledge of the matter said. The fashion giant has been working with advisers to study possibilities for Marc Jacobs after getting approaches from suitors, the people said. The brand could attract bids from other consumer companies as well as private equity firms, the people said, asking not to be identified because the information was private. The review is in the early stages and LVMH hasn’t made a final decision on how to respond to the interest. The luxury conglomerate could continue growing the business itself, according to the people. It’s relatively rare for LVMH to divest any of the brands in its portfolio. One of the last major disposals was in 2016, when it agreed to sell Donna Karan and DKNY for an enterprise value of $650 million. Any deal would help LVMH to capitalize on a years-long turnaround of Marc Jacobs and allow it to offload a brand in the affordable luxury category in order to focus on higher-end offerings. Fashion designer Marc Jacobs, 61, was an artistic director for more than a decade at the Louis Vuitton brand, which is LVMH’s biggest profit contributor. The New York native’s namesake brand was founded in 1984 alongside business partner Robert Duffy. LVMH owns about 80% of the brand, while Jacobs and Duffy own the remainder. Marc Jacobs sells products like The Tote Bag that retail for €550 in France, much lower than the €1,500 price tag for a Louis Vuitton Neverfull bag. It ventured into personal care in 2007, debuting the Marc Jacobs Daisy perfume with the famed floral cap and subsequently launched a beauty collection in 2014, according to its website. LVMH has restructured Marc Jacobs in recent years, which led to a simplification of its product offering. The profitable brand recorded about €600 million ($642 million) of sales in 2023, one of the people said. LVMH doesn’t break down financial performance by label. Paris-based LVMH is the world’s biggest luxury conglomerate, having amassed 75 labels ranging from Tiffany & Co. Co. to Christian Dior and champagne maker @Dom Perignon Full story written by By Pamela Barbaglia, Crystal Tse, Vinicy Chan, and Angelina Rascouet. https://lnkd.in/gpis-zDY

LVMH Moët Hennessy Louis Vuitton SE is reportedly exploring options for its Marc Jacobs fashion brand following interest from potential buyers, according to sources familiar with the matter. The fashion giant has engaged advisers to assess the situation, but a final decision has not been made. Marc Jacobs, known for products like "The Tote Bag," has undergone a turnaround in recent years, recording significant sales. This move could allow LVMH to focus on its higher-end offerings while capitalizing on Marc Jacobs' success in the affordable luxury market. Founded in 1984 by fashion designer Marc Jacobs and his business partner Robert Duffy, Marc Jacobs has seen notable success with products like "The Tote Bag" and its expansion into personal care and beauty collections. Despite being priced lower than some of LVMH's other luxury brands, Marc Jacobs has recorded substantial sales, with estimates reaching around €600 million ($642 million) in sales for 2023. This potential divestment comes amid LVMH's position as the world's largest luxury conglomerate, boasting a diverse portfolio of 75 labels, including renowned brands like Tiffany & Co., Christian Dior SE, and Dom Perignon champagne. #Growth #Retail #LuxuryGoods #Business #Fashion #Divestment I Bloomberg News I Pamela Barbaglia I Crystal Tse I Vinicy Chan I Angelina Rascouët