Friday, July 31, 2015

Gucci, Burberry demand lower Hong Kong rents as market wilts


[PARIS] Luxury companies including Kering SA are demanding lower Hong Kong store rents to reflect the island city's waning appeal with wealthy Chinese shoppers.
The owner of the Gucci brand may close some of its shops there if those costs don't come down, Kering Chief Financial Officer Jean-Marc Duplaix said late on Monday.
"Many landlords have not necessarily understood that the markets have changed," he said, speaking on a conference call with analysts.
UK trenchcoat maker Burberry Group Plc said last week it may also try to lower its rent bill after sales growth slowed to a two-year low. Luxury spending in Hong Kong, one of the world's largest hubs for high-priced shopping, has been suffering since China began discouraging extravagant spending among government officials in late 2012.
Hong Kong accounted for more than 10 per cent of first-half Kering's luxury retail sales, the company said.
Burberry, with 17 shops in Hong Kong, gets a similar proportion of sales from that city and Macau, excluding licenses.
Hong Kong's "halcyon days are gone," said Exane BNP analyst Luca Solca. He expects watch and jewelry makers in particular to close sites there, and rents will come down. "This should in time moderate adverse developments for luxury players."
Swiss watch exports to Hong Kong slumped 20 per cent in the first half.
Kering has also started renegotiating rents in Macau and mainland China as part of a wider plan to contain costs, Duplaix said. Rental costs for luxury companies in Hong Kong could drop 20 per cent in the next 18 months, according to John Guy, an analyst at MainFirst Bank AG.
"Hong Kong luxury consumption as a region has peaked," he said.

Thursday, July 30, 2015

Kate Middleton has the same Gucci bag as Rachel from 'Friends'

Could Kate Middleton be taking fashion tips from the hit TV show Friends? While the Duchess has never commented on whether or not she is a fan of the hit series, one Australian stylist noticed that she wore the same bag as Jennifer Aniston's character Rachel did in an episode.
"'Rachel' and #KateMiddleton have the same red #Gucci bag! Funny what you notice w watching old reruns of#Friends," wrote the owner of Perth Fashion Twitter account.
Kate donned the red Gucci bad in 2012 Photo: Getty Images

The bag in question is the Monogram Canvas Horsebit Shoulder Bag/Clutch from Gucci's 1921 Collection, according to whatkatewore.com, and it originally retailed for around $1,200. The classic clutch bares the company's logo, has leather trim, gold metal detailing and a detachable chain.
Rachel from Friends with the same purse at Kate Middleton Photo: Warner Bros.


Kate was spotted with the bag on November 24, 2012, when she and husband Prince William were at Millennium Stadium in Cardiff to watch the match against New Zealand’s All Blacks team and attend a reception for the Welsh Rugby Charitable Trust prior to the game.
Though the mom-of-two stepped out with the purse in 2012, it's likely she's owned it for a while as the episode it appeared in was 2003's "The One Where Ross Is Fine."
The Gucci bag is no longer available for purchase Photo: StyleHive

The bag is no longer available from Gucci and even an extensive search on Ebay yielded no results making this item a difficult one to find. While the 33-year-old's outfits and accessories are known to sell out within days of her wearing them, it seems the bag was discontinued before it even had a chance of experiencing the "Kate Effect."

Tuesday, July 28, 2015

Gucci Opens Its First Restaurant, and More of Today’s News


Photo: Courtesy of Gucci

Dine the Gucci way…


Armani has a restaurant on New York’s Fifth Avenue, and Ralph Lauren’s Polo Bar, on the same block, has become one of the city’s most exclusive reservations. Now Gucci has gotten in the restaurant game—though you’ll have to travel around the world to eat there. Gucci’s premiere bistro, called 1921 Gucci Café, is located within the brand’s Shanghai boutique and offers a full-service menu, which differs from that of the café affixed to the Gucci Museo in Florence. 

Manolo expands…


If you love your BB pumps and Hangisi flats, we have some good news: Manolo Blahnik is launching a handbag collection. Inspired by his signature shoe silhouettes, the line of clutches comes in vibrant colors with jewel embellishments.  So is this the first step in a bigger expansion? “At the moment I have no plans to make other accessories,” said Blahnik

A new CEO at Kering…

Following CEO of luxury couture and leather goods Marco Bizzarri’s appointment to CEO of Gucci earlier this year, Kering has finally chosen a replacement of sorts. Former Unilever executive Grita Loebsack was named CEO of its luxury couture and leather goods emerging brands—that’s Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, and Tomas Maier—while François-Henri Pinault will continue as CEO of luxury couture and leather goods at Gucci, Bottega Veneta, and Saint Laurent. .
Dior returns home…


Where does one wear one of Raf Simons’ Fall 2015 fur dresses for Dior? In Christian Dior’s hometown of Granville, France, of course. The brand’s latest campaign finds Mica Arganaraz, Natalie Westling, and Julia Nobis in Simons’ mod pieces, reclining cliffside in the seaside village. 
Keeping up with the Clevelands…


Mother-daughter model pairs seem to be all the rage these days—see the Spring ’15 Lanvin campaign—and no duo is more notable than Pat and Anna Cleveland. The two sat down to talk about the 1960s, beauty ideals, and “couture university” in a new interview. 

Psst…did you hear? This fall, all of the fashion, trend, and beauty coverage you love—plus so much more—will move to a new home at Voguerunway.com. Click here for your front-row seat to all things style, and get the latest news sent straight to your inbox!

Gucci Partners With Dover Street Market For Four International Shop-In-Shops

Gucci's spring/summer 2016 collection
(Photo : Getty Images/Giuseppe Cacace AFP) Gucci has announced a partnership with Dover Street Market. The Italian fashion house will launch pop-up shops at all four of the concept store locations - which are located are in New York, London, Tokyo and Beijing.
Gucci has announced a partnership with Dover Street Market. The Italian fashion house will launch pop-up shops at all four of the concept store locations — which are located are in New York, London, Tokyo and Beijing.
"It seemed very new to me. I think [Alessandro Michele] will be influencing fashion a lot. It's a revolution in terms of Gucci. I think he's really in tune with what's happening," Adrian Joffe, chief executive officer of Dover Street Market andComme des Garçons International, told WWD about the brand's new creative director.
"We're always really open to working with people who have great creativity and a strong vision. It goes with our spirit of telling stories and having something new to say. When I believe in something, I take it as far as I can," Joffe said. 
Previously, Dover Street Market has previously hosted many other luxury brands, including Céline, Prada and Saint Laurent
"Bigger is not necessarily better for us, and I think they appreciate this challenge," Joffe told WWD about hosting shop-in-shops at the same place as these established fashion brands. "There's no point doing the same corporate image. The point is to give them a chance to express themselves in a different way." 
Rei Kawakubo and Joffe opened the original market location on London's Dover Street back in 2004.
"We were enthusiastic when Dover Street Market approached us with the idea of this global collaboration, which is emblematic of our new vision for Gucci," Marco Bizzarri, president and ceo of Gucci, said.
Bizzarri added that there are only a few comparable "contemporary backdrops for fashion in the world today" and that "building unique and exciting collaborations with selected specialty stores is a new page at Gucci."

Sunday, July 26, 2015

Louis Vuitton America's Cup World Series - Portsmouth: Day One | Photos

The Louis Vuitton America’s Cup World Series is a racing circuit featuring the best sailors in the world, competing on foiling, wingsailed catamarans - an updated version of the AC45 raced in the last series.
The Louis Vuitton America’s Cup World Series is the first stage of competition in the 2017 America’s Cup and begins in the summer of 2015.
Featuring all of the America’s Cup teams racing in foiling, one-design AC45 catamarans, the circuit is an early opportunity to put points on the board that carry forward into the next stage of the competition.
Overall ranking position in the Louis Vuitton America’s Cup World Series determines the starting points score of the teams in the America's Cup Qualifiers in 2017.