Virtua’s Post

Kering readies its big brands to do battle on Fifth Avenue A whopping 963 million dollars… Such was the total at play in a major real estate transaction recently finalised between Kering, retail giant SL Green and New York property tycoon Jeff Sutton. Situated at 715-717 Fifth Avenue, the space's strategic value cannot be understated. 🤼 As it is, the location is in a relatively competition-free neighbourhood. Indeed, though Giorgio Armani is currently just next door to the new acquisition—on the corner of Fifth Avenue and 56th Street—it is set to move further up Madison Avenue: good news for the Kering brand that will fill the new space. This stands in stark contrast to Gucci's location at 725 Fifth Avenue, for example, which became less desirable when Prada moved in across the street, at numbers 724 and 720. ❔In its drive to reconquer the US market, Kering has an array of choices of strategic brands to allocate the much sought-after location: BALENCIAGA, Gucci, Saint Laurent, Bottega Veneta, Alexander McQueen… Yet as of now, the jury is still out as to which brand it will be. 📈After 2023—a year in which LVMH monopolised much of New York's Fifth Avenue—Kering now looks to be on the up and up. Yet it must first complete significant renovations on the space to prepare it for whichever fortunate brand is chosen to fill the highly-strategic location. To learn more about this strategic real estate acquisition, read our free investigative article: https://lnkd.in/eyxs2vtn

Miu Miu's Global Sales were up 58% in 2023. WHY??? Here's what i took : 📍 Expanding consumer profile: ↪ Miu Miu overturned its positioning as a younger sibling brand in recent years. ↪ With a new product line that is not only ageless but increasingly genderless. ↪ Miu Miu has focused on attracting those with a "youthful attitude" ↪ Which means not just aging millennials but anyone who embodies that mindset. 📍Styling revamp of products: ↪ Miu Miu's micro-mini skirt, introduced in the SS 2022 collection. ↪ Generated media frenzy far beyond what the brand's current marketing budget could afford. 📍Return of tourists: ↪ According to Prada executives, Chinese and American tourists are returning to the region. ↪ Milan's flagship stores for Miu Miu is crowded with shoppers from the US and China, as well as from Italy and Russia. #branding #marketing #strategy

Insights on Gucci's Strategic Hire: Stefano Cantino as Deputy CEO While all eyes have been on Valentino appointing Alessandro Michele as their new Creative Director, there'e been another very significant appointment in my opinion - Stefano "Midas Touch" Cantino's appointment at Gucci. With my ex headhunter's hat on here are some key takeaways: 🔹 Strategic Talent Acquisition: Cantino brings deep industry knowledge and a strong reputation from Louis Vuitton and Prada, positions him to drive strategic initiatives in communications and marketing. 🔹 Navigating Industry Challenges: Gucci's move amid sales decline is about leveraging Cantino's expertise for effective turnaround efforts. 🔹 Elevating Brand Image: Gucci's wants to refine its image and market positioning while maintaining luxury appeal. 🔹 Impact on Investor Perception: Cantino's appointment is crucial for restoring investor confidence through strategic planning and his track record of delivering tangible results. 🔹 Collaborative Leadership Dynamics: Perhaps most important, is Cantino's ability to collaborate with the CEO and other key leaders will be essential for driving a unified vision and strategic direction at Gucci. 🔹 Strategic Vision and Execution: This appointment is pivotal for executing a comprehensive turnaround strategy and restoring Gucci's competitiveness. Many will be watching this closely and we wish Stefano Cantino the very best in his new role. #luxpreneur #luxuryinsights #luxurynews #linkedinnews #linkedinluxury #gucci #luxuryleaders https://lnkd.in/eYFgdpxP

Iconic leaders. Every year, I dedicate some time to reading the Interbrand report on the list of the 100 most valuable brands in the world because, if you pay attention, it's rich in interesting insights from a business, marketing, and overall perspective on the macro trends that companies will adopt to continue growing. Fashion remains at the forefront of the ranking, from Nike to Louis Vuitton. The performance of high-end brands clearly demonstrates the resilience of the sector, albeit with more moderated growth compared to previous years. Among the Italians listed, Gucci slips four positions, while Prada remains strong with a growth rate above the average (+12%). Ferrari stands out as a top performer with a growth of 16%. Luxury is represented by Louis Vuitton (14), Chanel (22), Hermès (23), and Gucci (34), showcasing the best performance along with the automotive and retail sectors. The key role for these companies is played by their leadership, understood as clarity of direction and internal alignment on goals that not only relate to self-growth but also require increasing awareness and action to have a positive impact on society at large. Consistency in strategy execution and the ability to engage audiences in areas beyond the core are certainly the growth drivers in this field. # 225 SERVICES, United States 👇 More contents on our website, the link to the featured news is in the first comment below. If you want to learn more about our transformative approach to generating growth (yes, what we call innovation marketing!), feel free to write me privately. Gonzalo Brujó, Lidì Grimaldi, Daniel Binns, Manfredi Ricca, Interbrand More about this topics follow #MaurizioRibotti #innovationmarketing #cultureofmodernbusiness #luxury #premium #lifestyle #DRUMROLL --- All rights and credits are reserved to the respective owner(s). Contact us to add you as a reference or content removal.

"Gucci's Marketing and Communications Shakeup Continues 🔄 Chief brand officer Alessio Vannetti is the latest to leave the Italian mega-label 🇮🇹⚡️With sales under pressure, the brand is restructuring its operations under a new CEO 🔄👨💼 Get more insights at databoutique.com, the largest source for public data that helps understand the news in retail 📊💡#Gucci #BusinessShakeup #RetailNews" by The Business of Fashion about Gucci

For the first half ended June 30, 2024, and despite a challenging macro context, Prada posted excellent results with a strong retail sales growth of +18% YoY at constant exchange rates and a net revenue increase of +17%. to €2.55 billion, largely driven by its retail network and beating consensus estimates. Retail sales for Q2 aligned with the half-year results at +18% YoY growth.   This outstanding growth was driven by all the regions, most of which experienced double-digit growth, and its brands, fueled by Miu Miu. The latter experienced retail sales growth of +93%, while Prada continued its more mature above-market sales trend with a +6% increase in sales, compared to the same period in 2023. Miu Miu’s commercial success was a result not only of outstanding creative prowess but also of successful activations, highly acclaimed fashion shows, as well as special projects like Miu Miu Upcycled and several collaborations. Regarding regions, APAC showed +12% growth for H1 (with an embedded slowdown in Q2 versus Q1), while Europe posted excellent +18% growth. The Americas experienced good sequential growth at +7%. The two standouts for H1 regionally were once again Japan at +55% growth and the Middle East region, which experienced an exceptionally robust +20% growth (all at constant exchange rates). Management re-iterated that in a challenging macro-economic environment, the Group continues to exercise the disciplined execution of its business and distribution strategy, as well as remaining agile and invested in capitalizing on the strength of its brands Prada and Miu Miu, in terms of product range, branding communication, and brand positioning. #CXG #CX #Customerexperiencegroup #customerexperience #industrynews #prada #miumiu #luxurybrands #luxury #financialresults

Against a backdrop of normalization in the Luxury sector and reflecting transitions underway within the Group’s Houses, Kering’s revenue for the first quarter of 2024 was down 11% as reported and down 10% on a comparable basis to €4.5 billion. Kering’s performance worsened considerably in the first quarter. While we had anticipated a challenging start to the year, sluggish market conditions, notably in China, and the strategic repositioning of certain of our Houses, starting with Gucci, exacerbated downward pressures on our topline. In view of this revenue decline, together with our firm determination to continue investing selectively in the long-term appeal and distinctiveness of our brands, we now expect to deliver sharply lower operating profit in the first half of this year. All of us are working tirelessly to see Kering through the current challenges and rebuild a solid platform for enduring growth.” François-Henri Pinault, Chairman and Chief Executive Officer https://lnkd.in/e8f_SspT Photo by David Sims 

Part: 1/2 - 04 Sep 24 Burberry at a Crossroads: “Can Jonathan Kiman Deliver the Innovation It Needs?” Burberry, with its rich heritage, stands at a pivotal moment. In today’s luxury market, brands face unprecedented challenges, from rapidly evolving consumer preferences to the increasing importance of digital engagement and sustainability. Visionary, flexible, agile leadership is needed now more than ever to navigate these shifts, especially for a brand with such storied heritage. While Jonathan Kiman’s extensive experience at luxury brands like Gucci and Versace is impressive, I wonder if this is enough to steer Burberry through the comprehensive transformation it urgently needs. Luxury brands are now defined not only by their heritage but by how effectively they respond to changes in technology, consumer behavior, and sustainability expectations. Visionary leadership has proven to be key in these moments, and the success of leaders like Alessandro Michele at Gucci shows that a CMO must blend creativity with cultural awareness to disrupt the market effectively. Michele, although not a CMO, from what I’ve read played a critical role in shaping Gucci’s marketing and overall brand strategy during his tenure as Creative Director from 2015 to 2022. His influence went beyond design, helping to redefine Gucci’s cultural relevance in a competitive luxury market. Part2/2: To follow #CMO #LuxuryMarketing #BurberryLeadership #VisionaryLeadership #BrandStrategy #MarketingTrends @Burberry @Forbes @BoF @WWD @

During its annual results presentation last February, Mr. Pinault told analysts and the press that Kering was 'putting in place a new operating model, enhancing exclusivity, improving the in-store experience, reestablishing the core role of leather goods, and nourishing Gucci’s status as a 'cultural institution' via communications aimed at creating emotion, cultivating desire, and amplifying the brand narrative.' Great statement, right? And the 'actions' are not far behind. Kering is spending money on buildings, executives, and placing celebrities in the front row of everything from runway shows to the Oscars. There is a lot of noise. To cut through it, let's just sit down and ask ourselves a question: What defines a successful brand, and what are the signs that the brand is in trouble? This is straightforward; we always know what successful brands represent. No one doubts what Chanel, Akris, Prada, or Brunello stand for, right? What about Burberry or Gucci? The one thing that comes to mind is the color Rosso for Gucci and blue for Burberry. Beyond that, there isn’t much else. We hear the marketing team’s promises of the 'new Gucci/Burberry,' but no one is clearly outlining a specific merchandise direction. Yes, store planners and architects are busy converting shops from Riccardo Tisci's aesthetic to Mr. Lee's, spending a fortune on those transitions. However, this does not address the fact that both brands lack a clear significance in customers' minds. If clients are not clear on what the brand represents, they are unlikely to spend. If customers are not spending, the brand faces challenges in returning to 10 billion or any other billions, especially now when the Chinese market is a bit uncertain. Loud promises may seem a little naive. Maybe this sounds harsh and I shouldn't bring up a difficult issue, but as Pauline Kael said, 'In the arts (fashion), the critic is the only independent source of information. The rest is advertising.' #wwd #bof #fashion #gucci #fashionbusiness

LVMH is the latest luxury goods giant to be hit by a slowdown in demand for fashion. Sales in the three months to the end of June we're just 1pc higher than a year earlier. LVMH chief executive Bernard Arnault halled the firms remarkable resilience as it posted a still impressive £17.6 bn sales for second quarter. #lvmh #fashion #louisvuitton #givenchy #bernardarnault #investing #investments #investors #finance #success #privateequity #privatebanking #economy #networking #Stellamccartney #Celine #luxurylife #luxurylifestyle #luxury