Luxury Headlines – 21/07/2025
Luxury Headlines – 21/07/2025
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Richemont Posts Resilient Q1 2026 Results
Richemont reported resilient Q1 2026 results, with €5.4 billion in revenues, representing a +6% increase at constant exchange rates. Growth was primarily driven by double-digit increases in Europe (+11%), the Americas (+17%), and the MEA region (+17%), offsetting declines in Japan (-15%) and stable performances in APAC (despite a -7% decrease in China, Hong Kong, and Macau). The Jewellery Maisons stood out as the leader in growth with a +11% increase in sales. Specialist Watchmakers experienced a -7% decrease in sales, while the Group’s other business area saw a -1% decline.
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Puig Announces Robust Q2 2025 Results Across All Beauty Segments
Puig continued its robust performance in Q2 2025, contributing to a strong H1 for the year. For Q2 2025, revenue rose to €1,093 million, a +7.7% increase at constant exchange rates. The Fragrance and Fashion division, which constitutes 73% of Puig's revenue, grew by +6.7% primarily driven by Jean Paul Gaultier, with anticipated future growth from Carolina Herrera. The Skincare category, making up 12% of Puig’s total revenue, grew by +10.2% in Q2, led by Charlotte Tilbury and Uriage. The Makeup division saw a significant recovery with +10.5% growth for the quarter. Regionally, EMEA, contributing 52% of Puig's H1 revenue, saw a +3.6% increase to €1.2 billion, while the US (38% of sales) grew at double digits of +10.9% to €8.67 billion. APAC, which accounts for roughly 10% of revenues, was an exceptionally strong performer, surging +16.5% to €234 million.Puig has maintained its full-year 2025 outlook, targeting revenue growth of 6% to 8% and continued EBITDA margin expansion, despite the current economic and geopolitical uncertainties.
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OTB’s Marni Appoints Meryll Rogge as New Creative Lead
Meryll Rogge, a Belgian designer renowned for her upcycled and reconstructed womenswear, has been appointed as the new creative director of Marni, succeeding Francesco Risso. OTB founder Renzo Rosso highlighted that Rogge impressed them with her reinterpretation of Marni's DNA with a contemporary global vision across all brand dimensions. Recognized for her unique, theme-inspired designs since launching her label in 2020, Rogge her career at houses like Marc Jacobs and Dries Van Noten. Her appointment is part of a broader creative reshuffle at OTB, where she now stands as the only female creative director.
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Tapestry Invests in Sustainable Leather Company Gen Phoenix
Tapestry Inc. has invested $15 million in UK-based Gen Phoenix, raising its stake to 9.9%. This will support Tapestry’s increased use of recycled leather as part of its sustainability strategy targeted at younger consumers. The partnership began in 2022 with Coach’s Coachtopia line, which utilizes Gen Phoenix’s recycled leather. Gen Phoenix's materials have an estimated 80% lower carbon footprint than virgin leather. The agreement includes Gen Phoenix supplying recycled leather to Tapestry for 3 years.
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Tag Heuer Returns to TCS NYC Marathon
Tag Heuer has renewed its partnership with the New York Road Runners, becoming the official timekeeper for the TCS New York City Marathon after dropping out in 2016. The LVMH-owned brand will feature branded race clocks at key points and present marathon champions with Tag Heuer Connected smartwatches. The marathon annually draws over 50,000 runners, including athletes of all levels from Olympians, Paralympians to first timers, and 2 million spectators.
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