Luxury Headlines – 27/03/2023
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Dior Appoints Olivier Bialobos As Deputy Managing Director
Dior’s longtime Communications Chief, Olivier Bialobos, has been promoted to the role of Deputy Managing Director, reporting to newly-appointed Chief Executive Delphine Arnault. In addition to his new responsibilities, Bialobos will continue to oversee global communications and image for Christian Dior Couture, Parfums Christian Dior and manage Dior’s homeware division.
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Inditex Invests € 15 million into Kering Regenerative Agriculture Fund
Spanish fast fashion group, Inditex, plans to invest €15 million in the Regenerative Fund for Nature, a joint venture launched in 2021 by Kering and global NGO Conservation International. This investment will be used to scale regenerative farming projects to match the quantity and quality of raw materials with the industry’s demand. The fund aims to transform one million hectares of agricultural land in six countries to regenerative agriculture practices by 2026.
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Maserati Targeting Higher Margins in Lead-up to IPO
Maserati is adapting its strategy to be more competitive with other supercar brands in preparation ahead of its initial public offering (IPO). While revenues were up 15% in 2022, Maserati will pursue a more profit-driven strategy by launching more expensive models to reposition the brand, competing with the likes of Porsche and Ferrari. The company is targeting a 15% earnings before interest and taxes (EBIT) margin by 2024 before embarking on an IPO. Maserati also has ambitious plans to compete in the EV market by developing electric versions of all its models by 2025, and going entirely electric by 2030.
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Capri Invests in China Physical and Digital Presence
Capri is strengthening its presence in the Chinese market and reassuring Chinese customers of their commitment by increasing its strategic investments, both physically and digitally, in Asia. Starting with a two-day “jet set” Michael Kors event hosted in Sanya, the event featured a dinner and preview collection promoted by local brand ambassadors. The brand also organised a live-shopping event from its Douyin virtual flagship, and a takeover on Chinese social media platform Xiaohongshu. The investment in local experiences and positioning on Chinese digital platforms is a clear signal that Kors is aligning itself to tap into the rebound in the China luxury market.
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Kiton Considers IPO In the Long-Term
The CEO of Italian fashion group Kiton, Antonio de Matteis, stated that the company is interested in a potential initial public offering (IPO) but only as a long-term project. Kiton is widely viewed as one of the best tailoring brands in the world, priding itself on its hand-tailoring and Neapolitan-style craftsmanship. In 2022, the family-owned group achieved revenues of €160 million. Kiton has been expanding its retail network, most notably opening a store on Madison Avenue in New York, and investing in its manufacturing capabilities for continued growth.
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