Luxury Headlines – 27/02/2024
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LVMH Enters the World of Cinema With 22 Montaigne Entertainment
LVMH is launching 22 Montaigne Entertainment, a new company designed to develop film, television, and audio content based on its portfolio of brands. The company aims to "co-develop, co-produce, and co-finance" exclusive content featuring brands like Louis Vuitton, Guerlain, Ruinart, and Tiffany & Co. This move comes amid a growing trend of luxury brands investing in storytelling media. In the past, LVMH has partnered with Terminal 9 Studios to create "Inside LVMH," a documentary series about its brands' inner workings, and contributed to the Apple TV+ series "The New Look" about Christian Dior.
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OTB Group Experiences Sales Growth on Diesel and Margiela
OTB Group sales rose 10.2% to €1.9 billion in FY2023, driven by very robust performances from flagship brands Maison Margiela, Diesel, and Jil Sander, and an exceptionally strong Asia performance where aggregate sales were up 74%. Maison Margiela's sales rose 23% following a well-received couture show by star designer John Galliano. In comparison, Diesel sales grew 13.1% as the brand continues its turnaround under Glenn Martens. Jil Sander and Marni revenues grew 17.3% and 8.6%, respectively. OTB Group also acquired Florentine leather goods manufacturer Frassineti and launched an AI training program for managers. In addition, last year marked the opening of 76 new stores for the Group, which is considering an IPO in 2024 or 2025.
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Jacquemus and Nike Launch Handbag Collaboration
Jacquemus and Nike have launched their latest collaboration with the upcoming Nike x Jacquemus Swoosh bag release to start the hotly anticipated collaboration for Spring/Summer 2024. The bag has already sold out despite not having been officially released. Sha’Carri Richardson is suspected to be the face of the campaign. As so often, the brand once again proves its ability to recruit star-power talent to endorse its collections. In the past, Jacquemus and Nike's collaborations have proven to be very coveted.
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Balenciaga Show Slated for Shanghai
Balenciaga's upcoming resort collection 2025 will occur in Shanghai on May 30th. This is Balenciaga’s third international show, with the previous two in New York in 2023 and Los Angeles in 2024. The Shanghai show will represent Creative Head Demna's first Asian debut. The event underlines Balenciaga’s continued investment in the Chinese market, even amidst a relatively challenging sales environment for the brand.
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Tod’s Has No Plans to Be Sold
Tod's CEO, Diego Della Valle, reiterated that the company does not plan on being sold following the delisting from the stock exchange and is instead going private with the help of private equity firm L Catterton. This will allow the company to invest more in its brands and improve distribution.
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