Luxury Headlines – 30/9/2024
Luxury Headlines – 30/9/2024
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LVMH Invests in Moncler via Remo Ruffini’s Double R
LVMH has agreed on a deal with Moncler’s CEO Remo Ruffini to take a stake of up to 22% in the investment vehicle Double R, which controls the luxury outerwear specialist. Bernard Arnault’s group is buying a 10% stake in Double R, the company through which Moncler chair and Ruffini owns 15.8 % of the business, via a special purpose vehicle. The agreement entails an option to up the stake to 22%. Under the terms of the agreement, using LVMH funds, Double R will increase its stake in Moncler to 18.5% over the next 18 months, reinforcing Double R’s position as its biggest shareholder. Ruffini will continue to control Double R, but LVMH has the right to appoint two of its board members in addition to one at Moncler under the agreement.
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L'Oréal Luxe Debuts The Beauty Playground in London
L'Oréal Luxe has introduced The Beauty Playground, a pop-up event at Westfield London running from September 16th to 29th. In partnership with Westfield Rise, this interactive experience combines the best of the beauty world with technology, offering services like skincare diagnostics, perfume personalization, and “Spin the Wheel” games. The event features new makeup and fragrance collections from Armani Beauty, Lancôme, YSL Beauty, and Valentino Beauty. The Beauty Playground is a significant expansion for L'Oréal Luxe in the European market and is due to be introduced in other countries in the future.
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Canada Goose Expands Product Line to Eyewear with Marchon
Canada Goose has announced a strategic partnership with Marchon, a leading global eyewear manufacturer and distributor that produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp, and Zeiss. This exclusive, long-term agreement will result in the launch of Canada Goose's first-ever sunglasses collection in Spring 2025. The new eyewear line will embody the brand's signature design elements, prioritizing quality and sustainability. Marchon's expertise in eyewear design and distribution will be instrumental in bringing these innovative products to the market.
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Luxury Beauty Brand Balmain Opens Parisian Boutique
Estée Lauder, the licensing partner for Balmain Beauty, has opened a new standalone boutique at 8 Rue des Francs Bourgeois in Paris’ prestigious Marais district. This strategic move marks a significant milestone in the expansion of the Balmain Beauty brand. The boutique will feature the brand's latest fragrance collection, "Les Éternels de Balmain," alongside its complete range of beauty products. In addition to Balmain Beauty, Estée Lauder plans to open a new Kilian Paris store and reopen the renovated Jo Malone boutique in the same area.
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MontBlanc Appoints Giorgio Sarné as CEO
Luxury brand Montblanc has announced the appointment of Giorgio Sarné as CEO, effective November 15, 2024. Sarné brings over two decades of experience in the luxury industry, with a portfolio filled with leadership roles at Veuve Clicquot, TAG Heuer, and Tapestry Group-owned brand Stuart Weitzman. His expertise in building soft and hard luxury brands will be instrumental in guiding Montblanc's future growth and success.
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Rolls-Royce Inaugurates New Private Office in New York
British luxury automaker Rolls-Royce has expanded its presence in North America by opening its third private office abroad in New York City's Meatpacking District. This exclusive space allows clients to work closely with Rolls-Royce designers, creating highly personalized vehicles tailored to their individual preferences. Clients can choose from a wide range of materials and finishes for each detail. Following the success of its private offices in Dubai and Shanghai, Rolls-Royce also plans to open a location in Seoul by the end of the year.
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