Luxury Headlines – 19/05/2025
Luxury Headlines – 19/05/2025
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Louis Vuitton Michelin Dining Reopens in Saint-Tropez
Following the initial debut in 2023, Louis Vuitton is re-establishing its acclaimed Michelin-starred restaurant in Saint-Tropez for the current season. Chefs Arnaud Donckele and Maxime Frédéric are returning to lead the concept, now situated at the White 1921 Hotel and forming part of the expanding Louis Vuitton Culinary Community. Located near the brand's Saint-Tropez store, the restaurant offers a globally inspired menu rooted in Mediterranean and French cuisine, crafted with fresh, regional ingredients and presented using Louis Vuitton's latest tableware collections.
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Richemont Shows Resilience with Mid-Single Digit Revenue Growth in FY2025
For fiscal year ending March 31, 2025, Richemont reported a +4% increase in revenues (at current and constant exchange rates), reaching €21.4 billion, primarily attributable to the performance of the Jewelry Maisons. Operating profit reached €4.5 billion, representing a -7% decrease at actual exchange rates. Sales accelerated in the latter half of the year, with growth of 10% in Q3, followed by 8% growth in Q4. In terms of geographies, most regions reported double digit growth, with the exception of APAC which declined by -13%. Europe grew by +10%, fueled by robust local consumption and elevated tourist expenditure, while the Americas registered a +16% growth across all business segments and distribution channels. Similarly, Japan experienced exceptional growth of +25%, driven by strong domestic demand and increased inbound tourism, while the MENA region recorded a +15% increase.
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L'Oréal Acquisition Rumors of Medik8
L’Oréal Group has reportedly entered negotiations to acquire the UK-based skincare brand Medik8 from the private equity firm Inflexion. Medik8, established in 2009, focuses on developing scientifically backed, anti-aging skincare solutions. While neither company has confirmed the rumors, the potential acquisition would further expand L’Oréal’s dermo cosmetics portfolio, which includes brands like SkinCeuticals, CeraVe, and La Roche-Posay.
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Bugatti Inaugurates a New Design Studio in Berlin
French luxury automotive manufacturer Bugatti has expanded its global presence by inaugurating its latest Design Studio in Berlin on May 7th. The new facility is dedicated to the brand’s bespoke craftsmanship for the next generation of hyper sports cars. A specialized team with state-of-the-art technology, including virtual reality stations for full-scale digital visualization, will collaborate closely with clients to realize their unique vehicle visions. The studio also features physical touchpoints, such as material samples and design sketches, allowing for a comprehensive and tactile co-creation Process.
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Richard Mille Unveils a Limited-Edition Charles Leclerc Watch
Formula 1 racer Charles Leclerc is partnering with Richard Mille on the release of a special RM72-01 "Charles Leclerc" watch. This new edition of Richard Mille's flyback chronograph features design elements inspired by Leclerc's Monaco roots and Formula 1 career, including a white and red color scheme and tire-like crown. The limited-edition timepiece will be available in 150 pieces, powered by the caliber CRMC-1 for $300,000.
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Maison Margiela Names Glenn Martens as Creative Director
Belgian designer Glenn Martens is set to debut as the new creative director of Maison Margiela with a couture show scheduled for Paris Haute Couture Week in July, presenting the Artisanal collection for the fall 2025 season. Succeeding John Galliano, whose last Artisanal collection took place in Spring 2024, the appointment marks a new creative direction for the house. Martens gained significant recognition during his 11-year tenure leading Y/Project and was also appointed the creative director of Diesel in 2020.
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Courtin-Clarins Family Enters Luxury Hospitality
Mas Candille, a historic hotel near Cannes, has been redesigned by Hugo Toro with backing from the Clarins family, marking their entry into hospitality. The 2-year renovation blends Provençal heritage with a Californian touch, envisioning the 5-star hotel as the home of an American in the South of France. The hotel features 2 pools, including one connected to the new Clarins spa, "The Glow House by Clarins." With the support of the Courtin-Clarins family, Mas Candille aims to be a year-round destination, offering a unique aesthetic and a retreat for events like the Cannes Film Festival.
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LuxExperience Releases MyTheresa Q3 2025 Results
Following the rebranding of its parent company to LuxExperience, Mytheresa reported a +4% year-over-year increase in net sales for Q3 2025 reaching €242.5 million. The company also generated a positive operating cash flow of €18.7 million, with the Average Order Value (AOV) increasing significantly by +8.8% to €753 year-over-year. The company was also able to achieve a remarkable growth of +17.9% in GMV (Gross Merchandise Value) in Q3 FY25 vs. Q3 FY24 per top customer underlining the strength of MyTheresa’s strategic focus on VICs. Looking ahead to next year, Mytheresa stressed the positive prospects for the newly acquired YOOX Net-à-Porter platform; the company’s medium-term goal to achieve approximately €4 billion in annual net sales with a 7% to 9% adjusted EBITDA margin.
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