Stories on fashion and luxury you won't read elsewhere

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Stories on fashion and luxury you won't read elsewhere
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Astrid Wendlandt
12/05/24
Richemont publishes its full-year results on Friday but the Cartier and Chloé owner is unlikely to give much detail about the ongoing sale of its loss-making online fashion retailer Yoox-Net-A-Porter (YNAP). It will say that some parties have expressed interest, but it will not admit that many have pulled out of the bidding after seeing YNAP’s numbers.
Astrid Wendlandt
05/05/24
What is going on at Chanel? The brand’s cruise collection unveiled on Thursday on the roof of the Le Corbusier building La Cité Radieuse in Marseille in the south of France triggered a barrage of negative comments on social media never seen for such a major luxury brand. The public display of hostility makes more urgent the question of whether the time has come for Chanel to part ways with designer Virginie Viard and to consider who might replace her.
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Weekly highlights
Week from 2024-05-06 to 2024-05-10
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In the current downturn, affluent women splurge more easily on a nice piece of jewelry from a well-known and identifiable brand than on an overpriced handbag or dress. Branded jewelry is one of fastest growing categories in the luxury goods market – not only because it’s a popular status symbol, but also because it’s potentially a wise investment and can be passed on from generation to generation. Considering that the luxury watch category is currently in a cyclical downturn, investing in jewelry makes sense. Cartier, owner Richemont, and Watches of Switzerland Group, the UK’s biggest retailer of Rolex and Omega watches, both know that.
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LVMH has pulled Marc Jacobs from the market after receiving offers that were below its expectations of at least €2 billion, banking and financial sources say. Today, the Marc Jacobs brand is estimated to generate about $700 million in annual sales and some $150 million to $180 million in operating profit. “Marc Jacobs is being pulled from the market because it got disappointing offers,” one financial source with knowledge of the process told Miss Tweed on condition of anonymity.

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