The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel’s chief financial officer said on Thursday, warning the French fashion label’s 2020 revenues and profit would be significantly hit.
Privately-owned Chanel – known for its tweet suits, quailed handbags and No.5 perfume is one of the biggest luxury brands in the world alongside LVMH’s Louis Vuitton.
It did not give details of the slide in sales so far this year but the next 12 to 18 months would be particularly tough, finance chief Philippe Blondiaux told Reuters, adding that a strong recovery in countries where the group’s shops have reopened could not make up for the lack of international travel.
Paris Fashion Week is set for September 28 to October 6 in both digital and physical form, and luxury watch brand Audemars Piguet is all set to make its debut on the catwalk. The brand is partnering with London couture fashion house Ralph & Russo as it unveils its Spring / Summer 2021 Pret – … More Audemars Piguet To Debut At Paris Fashion Week With Ralph & Russo
Billy Porter is known for his unapologetic style and statement red carpet looks. Despite this year’s Emmy Awards being held digitally, porter didn’t hold back from bringing his show-stopping outfits to the event, wearing a custom-made ensemble by Saudi label, Ashi Studio. The actor, who was nominated for the award for outstanding lead actor in … More FASHION | Billy Porter’s 2020 Emmys Ensemble Was Custom – Made By This Saudi Label
Pierre Cardin has an indefatigable work ethic. That’s one of the major takeaways from P.David Ebersole and Todd Huges’s new documentary, House of Cardin, which charts the ongoing career trajectory of the designer, from birth to the present. Cardin, ne Cardine, is a self-made and self-invented man. His memory of his family’s flight from fascist … More FASHION | Pierre Cardin Is The Subject Of A New Documentary
Luxury goods giant LVMH is ending its takeover deal of jewelry retailer Tiffany & Co., saying the French government had requested a delay to assess the threat of proposed U.S. Tariffs. Wednesday’s announcement came after the deal’s value had been eroded by wider industry troubles caused by the coronavirus pandemic. The Paris-based conglomerate said that … More Luxury Goods Giant LVMH Cancels $14.5B Deal For Tiffany
New York Fashion Week will look a little different this season, with the typical seven-day parade of events stripped down to five days because of COVID-19 restrictions, with online runway shows, and smaller, socially distanced audiences. Host IMG said it had worked closely with the governor’s office to understand the protocols needed in order to … More COVID-19 Restriction Give New York Fashion Week New Look
With a State of the Global Islamic Economy report estimating the modest fashion industry to be worth an estimated £226 billion worldwide, it isn’t surprising numerous fashion houses are focusing on accommodating the market. Whether high-end names like Giorgio Armani, Dolce & Gabbana, DKNY and Burberry or high street retailers such as H&M and Mango, … More FASHION AVENUE | Tommy Hilfiger Champions Modest Dressing With First Stunning Hijab
It felt like an eternity rather than just a few minutes as haute couture fashion designer Elie Saab scrambled to make sure his 200 staff members, including his son, were safe when this month’s massive explosion shook Beirut. Like many Lebanese on Aug.4 when chemicals at the port detoned, the 56-year-old felt the blast was … More DESIGNER | ‘We Must Go On’, Says Lebanese Designer Elie Saab After Blast
Jaeger – LeCoultre has held the record for the world’s smallest mechanical movement – since 1929. The caliber 101, a mere 14 mm long and less than 5mm wide, is still used today. It drives two new high jewelry models from the brand, the Snowdrop and the Bangle. Both are made of 18k pink gold … More Two 20 – Carat Diamond Watches From Jaeger – LeCoultre Have World’s Smallest Movement
Since its unveiling in the late 1950s, the Blancpain Fifty Fathoms Bathyscaphe was designed as a gentleman’s drive watch in a size that that can be worn every day. In many ways this timepiece was well ahead of its time and is certainly suited to the current trend of sports watches that can be worn … More Blancpain Debuts Fifty Fathoms Bathyscaphe With Blue Dial And Sedan Gold
Iconic fashion designer Diane von Furstenberg wrote on Instagram that laid-off employees of her struggling company will be paid in full including severances. The statement was in response to a New York Times article that was written about the closing of her company’s clothing stores which laid off 60 percent of the retail staff in … More FASHION | Diane Von Furstenberg To Pay Laid Off Employees ‘In Full’
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