Luxury at the Summit 2024
Luxury at the Summit 2023
Luxury at the Summit 2022
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Stories on fashion and luxury you won't read elsewhere
Miss Tweed:
Stories on fashion and luxury you won't read elsewhere
Stories on fashion and luxury you won't read elsewhere
Top stories
Astrid Wendlandt
21/07/24
John Galliano does not plan to renew his five-year contract with Maison Margiela when it ends in October and could be heading back to his former employer LVMH, and more specifically Dior, several sources with knowledge of the matter said. If Galliano does return to the storied French house after being sacked in 2011 for antisemitic rants, it would send a strong message of forgiveness from LVMH and embody the most beautiful comeback the fashion world has ever seen, they said.
Weekly highlights
The passing of the baton to the new generation continued this week at LVMH with the promotion of Bulgari’s Chief Marketing Officer Laura Burdese to deputy CEO. It looks like the French luxury group is preparing the succession of Bulgari CEO Jean-Christophe Babin, 65, who has been running the brand for 11 years.
Across La Manche, a major leadership change also took place this week. Burberry appointed Joshua Schulman as CEO on Monday after issuing a profit warning and publishing a 22 percent drop in revenue for the 13 weeks to June 29.
Supreme is now part of eyewear empire EssilorLuxottica (EL). It used to be a cult streetwear brand and a retail pioneer with its so-called “drops” in stores that created excitement among fans. Now it’s going to become a massmarket brand. EL makes eyewear, it does not know how to run and build a fashion brand. The same logic applies to fragrance makers L’Oréal, Puig and Interparfums. They all own fashion brands but have never been able to turn them into real, impactful and meaningful businesses.
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Astrid Wendlandt
14/07/24
Now that a triumvirate is in place at Richemont with a powerful CEO and a new boss at Cartier and at Van Cleef & Arpels (VCA), the group’s two biggest brands, the most pressing governance question investors would like an answer to is who will be chairman once Johann Rupert is no longer there.
Astrid Wendlandt
07/07/24
Cyrille Vigneron steps down as CEO of Cartier on Sept. 1, parent Richemont announced this week. That’s six months earlier than the Frenchman planned to retire, several industry sources said. Miss Tweed had reported in December that Vigneron was preparing to exit next year. Richemont Chairman and controlling shareholder Johann Rupert saw things differently.
Astrid Wendlandt
30/06/24
The luxury investment community got excited this week when it found out that LVMH CEO and controlling shareholder Bernard Arnault had personally acquired a small stake in Richemont as part of his many investments. Immediately many people thought: Arnault is preparing a bid for Richemont, owner of the No. 1 jeweler Cartier and the success story Van Cleef & Arpels.
Astrid Wendlandt
23/06/24
A little over a decade ago, the luxury industry was gripped by the “handbag war” between LVMH and Hermès when Bernard Arnault’s group tried to seize control of the maker of the prized Birkin handbags and was eventually forced to give up. Now a watch war could be afoot.
Astrid Wendlandt
16/06/24
Fashion investors and M&A bankers get ready. A lot of brands are going to be on the market over the course of the next few months. Fashion is in a perfect storm. Global demand is down. MatchesFashion’s collapse is threatening to put dozens of brands out of business. Saks is still delaying payments to brands. China, once the biggest growth engine, has become a tough place for business.
Astrid Wendlandt
09/06/24
Virginie Viard and Chanel parted ways this week. Her exit is the result of several factors that brought an end to the 30-year collaboration between the French luxury powerhouse and Karl Lagerfeld’s former right-hand designer.
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Miss Tweed's Boutique
A Year in the News 2022-2023 is a compilation of Miss Tweed's stories published online during its third year. It is a way to immortalize on paper the media's digital content. Like our previous yearbooks, A Year in the News 2022-2023 is a limited edition and a collector's item. It celebrates the work of Claire Laude. Each one of her illustrations runs next to the first two paragraphs of the corresponding exclusive news or analysis.
25 €
Author and journalist Astrid Wendlandt conducted a four-year investigation into the secretive world of fashion and luxury involving hundreds of interviews with top executives and designers. How Luxury Conquered the World explains how this industry has become one of the pillars of the global economy, putting it on a par with Google, Amazon, Facebook and Apple combined in terms of job creation and economic might.
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