Luxury footwear brand Jimmy Choo boosted by weaker pound. Celebrity-favourite footwear brand Jimmy Choo has posted rising profits and said it expects a weaker pound in the wake of Brexit to further boost revenues and profits.
The luxury shoes and accessories firm, popular with the likes of Jennifer Lopez and Sandra Bullock, said that because only 9.5 per cent of its global revenues are in pounds compared to a larger 28 per cent of operating costs, a weaker sterling ‘will lead to a reported upside in business performance at a revenue and profit level’. The comment came as Jimmy Choo posted a 43 per cent rise in operating profits for the six months to the end of June to £25.3million boosted by a weak pound, as well as growth in China and in its men's coillection. Luxury appetite: Jimmy Choo said it saw ‘impressive’ growth in China, which has been a tough market for its competitors recently While being well-known for its skyscraper heels, Jimmy Choo's men’s line and handbags have also been doing well.
American Luxury Companies Remain Cautious as Weak Traffic Weighs on Sales. NEW YORK, United States — Luxury-goods sellers are keeping the champagne on ice.
Despite posting earnings that topped analysts’ estimates for their most recent quarters, Coach Inc., Ralph Lauren Inc. and Michael Kors Holdings Ltd. all offered less-than-rosy forecasts. The gloomy outlooks weighed on shares of Coach and Michael Kors, while Ralph Lauren’s stock rose on optimism that a turnaround plan from its new chief executive officer is gaining traction. Executives at the companies — which sell merchandise ranging from $400 handbags to $5,000 pea coats — say decreased tourism to the US and dwindling spending are hurting sales at department stores as well as their own locations. And in a break from recent practice, they are trying to avoid resorting to extreme discounts to move merchandise for fear that the tactic will ruin their brands’ images among consumers. Michael Kors The shares fell 1.1 percent to $49.55 at 9:37 a.m. in New York.
Coach Results. Gucci Stores Get Marble Staircases as Luxury Brand Seeks Revival. MILAN, Italy — Velvet armchairs and marble staircases form the backdrop against which Gucci’s new creative director is basing his efforts to extend a revival at the ailing luxury brand.
Alessandro Michele’s fall-winter collection is being shown in a lavish setting at Gucci’s flagship store in Milan that also includes vintage oriental rugs and plush carpets. The new design will be introduced at other Gucci outlets after Friday’s debut in the Italian fashion capital. The store format “is one of the ways in which we are communicating Gucci’s new identity,” Gucci Chief Executive Officer Marco Bizzarri said in a statement. Bizarri joined in January from Bottega Veneta, like Gucci owned by Kering SA. Kering brought in Bizzarri and promoted Michele to creative director earlier this year, tasking them with restoring growth at its biggest brand. Michele’s hotly anticipated spring-summer Gucci collection will go on show Wednesday during Milan fashion week. Yves Saint Laurent ad banned for using 'unhealthily underweight' model. An advert by the fashion company Yves Saint Laurent has been banned by the UK’s advertising watchdog for using a model who appeared to be unhealthily underweight.
Upholding a complaint that the model looked too thin, the Advertising Standards Authority (ASA) censured the advert, which appeared in Elle magazine, as irresponsible. In its ruling, published on Wednesday, it said: “The ASA considered that the model’s pose and the particular lighting effect in the ad drew particular focus to the model’s chest, where her rib cage was visible and appeared prominent, and to her legs, where her thighs and knees appeared a similar width, and which looked very thin, particularly in light of her positioning and the contrast between the narrowness of her legs and her platform shoes.
Burberry New London Fashion Week Home. Indigital BURBERRY is bidding farewell to its Kensington Gardens base for the forthcoming show on September 19, the brand has revealed this morning.
Bailey On The Changes At Burberry Bailey On The Changes At Burberry Moving closer to the London Fashion Week hub in Soho's Brewer Street Car Park - where the official show space has been located for the past two seasons - the luxury British brand's new venue, named "Makers House", is situated at 1 Manette Street. Burberry/Mario Testino The location is not the only change that Burberry is undergoing this season.