Gucci comparable sales were up 13.3 percent and Saint Laurent comparable revenue grew 14.4 percent. The success of its new collections saw Bottega Veneta return to growth with a 2.2 percent comparable jump in sales.
As much as luxury marketers must remain culturally relevant, and streetwear and team sports including the NBA are important cultural touch points for the younger generation that Louis Vuitton and other legacy luxury houses must cultivate, this collaboration might be stretching the brand too far.
The Gucci Osteria da Massimo Bottura Beverly Hills on Rodeo Drive is designed as an intimate restaurant designed by three-Michelin-star chef Massimo Bottura. It will seat 50 guests for lunch and dinner starting Feb. 17.
Elsewhere in luxury: Moncler 2019 profits, sales up, chief addresses coronavirus; Outlier artists shine in London auctions; Seeing the Oscar challenge to Fashion Week and raising It one; Celebrity with a cause: how Oscars dressing became a moral statement.
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Luxury Daily’s live news – Hermès challenges cosmetics establishment with official debut of Hermès Beauty; Burberry gives voice to models with spring-summer 2020 campaign; Louis Vuitton’s new menu for growth: restaurants; Tiffany & Co. shareholders approve acquisition by LVMH for $16.2B.
French fashion and leather goods house Hermès has officially launched Hermès Beauty, its 16th line of business that kicks off modestly with its first range of lipsticks.
French fashion house Louis Vuitton has opened its first café and restaurant within a store, picking its newly inaugurated Osaka Midosuji shop in Japan as the location to add a new twist to its business model.
Shareholders of famed U.S. jeweler Tiffany & Co. at a special meeting have overwhelmingly approved its sale to French luxury conglomerate LVMH Moët Hennessy Louis Vuitton SE.
Elsewhere in luxury – Miuccia Prada will be getting sensitivity training; Abercrombie & Kent: Reinventing the meaning of luxury; Hong Kong retailers’ “double devastation” in coronavirus crisis; Tesla’s 2020 advance blows past 100 percent, leaving Wall Street in awe.
