Luxury Headlines – 27/06/2023
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Pharrell Williams Makes Debut for Louis Vuitton
Pharrell Williams made his debut for Louis Vuitton as men’s creative director in Paris, bringing the fashion and music worlds together. 1,750 guests attended the show including Jay-Z, Rihanna and Zendaya. The scale of the event was a testament to both Williams’s grandiose vision as well as Louis Vuitton’s prowess as a luxury brand with sales having surpassed €20 billion in 2022. Paris was at the event’s center as the show took place on the Pont Neuf, Paris’s oldest bridge, in front of the river Seine and the Eiffel Tower. The bridge was covered in Louis Vuitton’s signature Damier check in gold. Music played a vital role during the show as a band and a gospel choir played music composed by Williams followed by a performance from Williams himself and Jay-Z.
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Ralph Lauren Releases Annual Sustainability Report
Ralph Lauren released a report on its sustainability efforts in 2022 to lay the groundwork for a more environmentally friendly future. Through the Timeless By Design Initiative, the company will be focusing on designs that last longer using high-quality materials. Ralph Lauren’s strategy will be to highlight three core pillars. Firstly, ‘Create with Intent’ which refers to using sustainable materials and responsible sourcing channels. Secondly, ‘Protect the Environment’, which will focus on renewable energy, waste management and water stewardship (zero waste goal by diverting 92% of waste from incineration and landfills across distribution centers; use of only recyclable packaging by 2025). Lastly, ‘Champion Better Lives’ which will aim to help communities and NGOs.
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L’Oréal Launches Beauty Tech & Innovation Challenge in Asia
L’Oréal launched its North Asia Big Bang Beauty Tech & Innovation Challenge, a regional open innovation platform focused on driving the co-development of beauty products and experiences across China, South Korea and Japan. For Korea, L’Oréal will support promising startups in the fields of beauty devices and tech which deploy digital and AI technologies. In Japan, L’Oréal will focus on startups developing bio-friendly and sustainable beauty. L’Oréal has been engaged in this program in China for three years, during which it worked with 1,500 startups and incubated more than 50 projects. Accelerating open innovation in the beauty ecosystem of Asia will allow L’Oréal to leverage the unique regional strengths and synergies in technology and science.
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Lamborghini Expands to Real Estate
Lamborghini will be releasing branded residences in Spain in 2027. Collaborating with luxury real estate developer Dar Global, the exclusive complex in Andalusia called Tierra Viva will offer buyers scenic views and designs drawn from Lamborghini supercars. 53 mansions with three different layouts are currently under development, valued in total at €282 million. Lamborghini also recently released its first plug-in hybrid model to market in April 2023.
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Rihanna Steps Down as CEO from Savage x Fenty
Rihanna is stepping down from her CEO position at her lingerie brand Savage x Fenty, five years after founding it. Hillary Super, former CEO of US fashion, home and beauty company Anthropologie Group, will be taking over her role. Launched in 2018, Savage x Fenty was praised for the diversity of its appeal to a wide range of human sizes and skin tones.
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