Luxury Headlines – 28/4/2025
Luxury Headlines – 28/4/2025
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Hermès Opens New Leather Goods Facility in France
Hermès has announced the expansion of its leather goods production capabilities with the establishment of its first workshop in the Calvados region of Normandy. Situated in Colombelles, near Caen, the new manufacturing site will be developed on land formerly belonging to the Société Métallurgique de Normandie, with a focus on sustainable construction. Anticipated to open in 2028, the facility will employ around 260 skilled leather craftspeople. This project represents the 4th expansion initiative currently underway for Hermès to meet strong consumer demand. New sites will open in L'Isle d’Espagnac (Charente) this year, Loupes (Gironde) in 2026, and Charleville-Mézières (Ardennes) in 2027.
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Porsche Launches a New Apple Vision Pro App Experience
To celebrate the launch of the 911 Spirit 70, its third Heritage Design model, Porsche has introduced an innovative Apple Vision Pro app. The free-to-use app provides an immersive experience, allowing customers to explore Porsche's historical 1970s design archive and personalize the latest 911 model in realistic 3D with era-specific colors, racing numbers, stripes, and seating patterns. Users can save their designs or continue the customization process in Porsche's standard Car Configurators.
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EssilorLuxottica Reports Q1 2025 Results
EssilorLuxottica's reported revenues of €6,848 million for Q1 2025, representing an 8% increase (7% at constant rates) year over year. Professional Solutions grew by 4.4% to €3,236 million, led by strong EMEA and Latin America performance. DTC saw a 10.1% rise to €3,612 million, fueled by an 8% increase in comparable-store sales. North America's revenue was €3,079 million (up 4.2%), while EMEA generated €2,548 million (up 9.9%). Asia-Pacific achieved €852 million (up 10.4%), with myopia solutions in Greater China rising around 30%. Latin America recorded €369 million (up 9.2%). The company noted the fast growth of Ray-Ban Meta. The company maintains its mid-single-digit annual revenue growth target and a 19-20% adjusted operating profit margin goal.
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Zegna Group Releases Q1 2025 Results
The Ermenegildo Zegna Group has reported unaudited revenues of € 458.8 million for Q1 2025, representing a year-on-year decrease of 0.9% (1.2% on an organic basis). The Zegna segment reported €333.3 million in revenue (+2.6% year over year), while Thom Browne generated €64.4 million (-18.6% year over year), and Tom Ford Fashion recorded €67.5 million (+3.8% year over year). By distribution channel, DTC revenues reached €345.1 million (+5.2% year over year), constituting 81% of the group's branded product revenue, whereas wholesale revenues totaled €79.5 million (-19.8% year over year). Geographically, EMEA generated the highest revenue at €154.1 million (-1.6% year over year), followed by the Americas at €125.0 million (+9.5% year over year) and the Greater China Region at €123.3 million (-11.6% year over year). The rest of APAC contributed €55.9 million (+6.5% year over year).
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Mytheresa Completes YNAP Acquisition
Mytheresa has finalized its acquisition of Yoox Net-a-Porter (YNAP) and will start operating and trading under LuxExperience on the New York Stock Exchange by May 1st. In preparation for the acquisition, Mytheresa previously announced executive leadership changes. LuxExperience projects achieving €4 billion in gross merchandise volume by 2029, aiming to establish a dominant position in the luxury e-commerce market amidst competitors like Farfetch.
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Kerzner International Unveils One&Only Project in the Hudson Valley, New York
Kerzner International, through its One&Only brand, has expanded its presence in the United States with the development of a 2nd luxury resort and private home community in Hudson Valley, New York. Established in partnership with Nolan Reynolds International and the Culinary Institute of America, the project is set to open in 2028. Situated within the CIA campus in Hyde Park, the wellness-focused retreat will feature 61 accommodations, two dining venues, and a Longevity Hub by Clinique La Prairie, along with an exclusive collection of Private Homes designed with chef's kitchens. This project follows the anticipated opening of One&Only Moonlight Basin in Montana later this year.
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