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
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
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.
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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A Year in the News 2021-2022 is a compilation of Miss Tweed's stories published online during its second year. It is a way to immortalize on paper the media's digital content. Like the first yearbook, A Year in the News 2021-2022 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.
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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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