Hennessy Launches Web3 Project
LVMH-owned Cognac brand, Hennessy, is launching a Web3 platform called 'H3nsy'. The platform will allow community members to connect over creation, collaboration, and culture, leveraging the success of prior introductions of NFT products like the first NFT-connected bottle called H8. Additionally, the platform will be used for traceability purposes and other practices to enhance the future of the business beyond NFTs.
Moncler Revenue Up 27%, Despite China Slowdown
Moncler Group's revenue rose by 27% to €2.6 billion in 2022, driven by a strong performance in EMEA (up 29%), the success of Moncler Genius and its collaborations, as well as Stone Island (up 29%), acquired in 2021. Despite China headwinds, revenues in Asia were up 12% YoY, while the US was up 21% YoY. Moncler announced further price hikes in 2023, especially in Europe. Key areas of focus will be omnichannel growth; community and brand building; continued expansion in newer categories; and growing Stone Island in international markets and via a direct-to-consumer (DTC) distribution model.
L Catterton Buys Majority Stake in A.P.C.
L Catterton, the private equity firm backed by LVMH, is investing in a majority stake in French RTW brand A.P.C. while keeping founder Jean Touitou as Creative Director. The goal is to scale the brand internationally and grow its omnichannel business, with the aim of tripling the current turnover of €100 million to €300 million. Currently, A.P.C. operates 102 stores worldwide, mainly in Europe, the U.S., and Japan.
Tiffany Appoints Jimin of BTS as Brand Ambassador
K-Pop star limin, a member of BTS, will be Tiffany's new brand ambassador. Just recently, Dior, another LVMH-owned brand, also appointed limin as their ambassador, cementing the trend of collaborations between luxury brands and K-pop stars. Tiffany is leveraging a very successful year to increase its global reach through its association with Jimin. Jimin has a massive following on social media and is in the process of releasing his first solo album.
Arezzo & Co. Invests in Footwear Brand Paris Texas
Brazilian conglomerate Arezzo & Co., owners of Alexandre Birman, Anacapri and Schutz, among other brands, acquired a 65% stake in Italian footwear brand Paris Texas for $25 million. This will help expand Paris Texas' global footprint while establishing Arezzo & Co. in the luxury segment, allowing the brand to further penetrate the European market. Paris Texas is a young, but well-established luxury brand with distribution in 250 luxury retailers including Harrods, Saks, and Bergdorf Goodman.
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