LVMH named former Dior creative director Maria Grazia Chiuri as chief creative officer of Fendi https://t.co/4IEFg5lkOz ...

Core Points - The European Union's antitrust authority has fined Gucci, Chloe, and Loewe a total of 157 million euros ($182 million) for fixing resale prices of their retail partners [1] - Kering, which owns Gucci, was fined 119.7 million euros, Chloe 19.7 million euros, and Loewe 18 million euros, indicating increased regulatory scrutiny on luxury brands [1][2] - The companies imposed restrictions on retailers, including adherence to recommended retail prices, maximum discount rates, and specific sales periods, which limited retailers' pricing independence and reduced competition [2][3] Company Responses - Kering stated that the EU investigation was resolved through a cooperation procedure and that the financial impact was accounted for in the group's 2025 first-half results [2] - LVMH's Loewe confirmed compliance with antitrust laws following the EU deal and is expected to report third-quarter sales soon [3] - Richemont, owner of Chloe, has not yet commented on the EU fine [3] Industry Context - Other luxury brands such as Armani, Dior, Loro Piana, and Tod's are facing scrutiny from Italian authorities regarding alleged worker abuse in their supply chains [4] - Recent incidents of data breaches at some companies have compounded regulatory challenges within the luxury sector [4]

Core Points - The article discusses the current state of campus recruitment events, highlighting the mixed experiences of students attending these events and the varying quality of presentations from companies [1][4][11] Group 1: Campus Recruitment Events - Campus recruitment events are becoming increasingly significant, with over 7,977 events expected to take place across 350 universities in China from September 22 to October 23, 2023 [19] - Students are often left questioning the value of attending these events, as some feel they are merely promotional rather than informative [11][28] - The expectation for these events includes clear communication of salary, benefits, and career paths, which many companies fail to deliver [26][31] Group 2: Company Practices - Companies like LVMH have faced criticism for their recruitment presentations, which lacked practical information and focused more on brand promotion than on job opportunities [4][9][11] - In contrast, other companies such as Miniso and L'Oréal have been noted for providing more engaging and informative sessions, including direct interactions with HR and immediate feedback [10][26] - The trend of offering promotional gifts at recruitment events has become a common practice, with companies using these gifts to create a positive impression among students [12][15][32] Group 3: Student Perspectives - Students are increasingly viewing recruitment events as opportunities to collect promotional items rather than as serious job-seeking venues, leading to the phrase "recruitment events are shopping events" [13][32] - Many students express frustration when events do not provide tangible recruitment opportunities, leading to a sense of wasted time [28][31] - The competitive nature of recruitment has led students to attend events across different universities, even if the companies are not directly recruiting from their institution [22][24]

Core Insights - Overall consumer trends during the holiday period show divergence, with strong travel demand and a 6.9% year-on-year increase in total inter-regional travel volume [1] - The luxury goods sector is experiencing continued improvement, benefiting from easier comparative bases, targeted customer development, and increased mall promotions [1] - However, the film box office and sports apparel sectors are underperforming [1] - Sales in the gold and jewelry segment are supported by rising gold prices, but overall sales volume remains weak [1] - Preferred stocks include luxury groups LVMH, Richemont, Yintong Holdings, and Anta Sports [1]

格隆汇10月6日｜花旗集团：将路威酩轩(LVMH)目标价从635欧元下调至630欧元。 ...

Core Insights - Berluti, a luxury brand under LVMH, remains profitable even as LVMH's overall revenue declined by 4% and net profit fell over 22% in the first half of 2025, with estimated annual sales around €150 million [1][24] - The brand is recognized as a symbol of "old money" and has a unique identity tied to its craftsmanship and exclusivity, appealing to a select group of wealthy clients [1][24] - Berluti faces challenges as the luxury market shifts towards younger and more diverse consumers, questioning whether it can maintain its business model reliant on a small elite clientele [1][24][25] Company Performance - Berluti's CEO Jean-Marc Mansvelt stated that the brand is thriving and performing significantly better than the average within LVMH [1] - Despite LVMH's overall downturn, Berluti is one of the few brands that achieved profitability [1] - The brand's pricing strategy remains robust, with ready-to-wear shoes priced between ¥20,000 and ¥40,000, and custom lines reaching upwards of ¥100,000 [24][25] Brand Identity and Customer Base - Berluti is known for its unique "Berluti Knot" shoelace technique, which serves as a subtle marker of identity among its wearers [5][8] - The brand's history dates back to 1895, founded by Alessandro Berluti, and is renowned for its artisanal craftsmanship and the Patina dyeing technique [8][16] - Berluti's clientele includes influential figures from politics, business, and the arts, reinforcing its status as a luxury brand [16][17] Market Position and Strategy - Berluti has maintained a low-profile yet high-profit business model, focusing on a concentrated target market of high-net-worth individuals [24][25] - The brand has expanded into ready-to-wear clothing since being acquired by LVMH in 1993, aiming to become a comprehensive menswear luxury brand [21][24] - Berluti's sales strategy emphasizes customer loyalty and emotional connection, offering services like "creative recycling" and online tutorials to enhance customer engagement [27] Challenges and Future Outlook - The luxury market is evolving, with younger consumers seeking personalized and sustainable options, posing a challenge for Berluti's traditional aesthetic [25][28] - The brand's slow expansion and conservative product offerings may alienate a younger audience accustomed to fast fashion and trend-driven purchases [25][28] - Berluti's future profitability hinges on its ability to adapt to changing consumer preferences while maintaining its core values of exclusivity and craftsmanship [25][28]

Silvia Venturini Fendi is stepping down from LVMH label Fendi and becoming honorary president of the fashion house, the French luxury group said on Monday. ...

Group 1: Major Corporate Changes - L'Oréal announced significant adjustments to its executive committee, with new appointments set to take effect in January 2026, aiming to enhance its strategic focus in the U.S. market [2] - Estée Lauder is undergoing a substantial salary reduction for its executive team, with a total annual compensation decrease of 28% for FY2025, reflecting a collective compromise amid poor performance and declining stock prices [3] - Burberry's global procurement and marketing director has left the company, indicating challenges in retaining key executives during its transformation strategy [11] Group 2: Market Performance and Reactions - H&M reported better-than-expected Q3 results for FY2025, with net sales increasing by 2% year-on-year, leading to a 10% surge in stock price [6][5] - Brunello Cucinelli's stock plummeted by 15% following allegations of regulatory violations in the Russian market, highlighting the fragility of luxury brand valuations [7] - LVMH continues to expand its media asset portfolio, indicating a strategic move to enhance its influence in the media landscape [9] Group 3: Strategic Developments - Ralph Lauren secured a significant legal victory in China, confirming its "POLO" trademark as a well-known brand, which strengthens its position in the market [4] - LVMH's Kendo has sold its beauty brand KVD Beauty to Windsong Global, marking its first brand sale and a shift in strategy to streamline its offerings [9] - Reports suggest that L'Oréal is primarily interested in retaining only the profitable beauty business of Armani, with a licensing agreement extended until 2050 [13]

Core Viewpoint - The fashion industry is increasingly venturing into the beauty sector as a response to declining sales, with several major brands launching beauty products to explore new growth opportunities [3][10][46]. Group 1: Fashion Brands Entering Beauty - In September 2025, major fashion brands like Gap, Zara, and H&M announced significant moves into the beauty industry, indicating a trend among fashion companies to diversify their product offerings [5][16]. - Gap Group plans to launch beauty products in 150 Old Navy stores, with some featuring beauty consultants, aiming to leverage its financial stability for growth [12][10]. - Zara has introduced its first hair care line, including shampoo and conditioner, marking its entry into the hair care segment after previously launching cosmetics and fragrances [15][14]. Group 2: Performance of Fashion Brands - Gap Group reported a 4.85% increase in net sales for Q2 2024, ending a three-year decline, but the growth rate has slowed significantly compared to previous years [7][10]. - Zara's parent company, Inditex, experienced a modest 1.6% sales growth in H1 2025, with Zara itself showing the slowest growth in five years at 0.9% [13][14]. - H&M's net sales fell by 1.87% in the same period, with a notable decline in net profit, indicating a downward trend for the brand [16][17]. Group 3: LVMH's Beauty Strategy - LVMH launched its own beauty brand in 2025, with a focus on luxury makeup products, including 55 lipstick shades, aiming to enhance its beauty segment's profitability [32][33]. - Despite the launch, LVMH's overall sales and profits saw significant declines in H1 2025, with a 4.48% drop in net sales and a 21.59% decrease in net profit [34][35]. - The beauty segment's operating profit margin remains lower than the group's average, highlighting challenges in achieving profitability through self-created beauty brands [39][40]. Group 4: Designer Brands and Fragrance - Designer brands are increasingly entering the fragrance market, with several launching new perfume lines in collaboration with established fragrance companies [20][22]. - The trend reflects a broader strategy among fashion brands to transform into lifestyle brands, leveraging their design expertise while outsourcing production and distribution to fragrance giants [22][24]. - Notably, Christian Louboutin's fragrance line, managed by Puig, has faced challenges, with its makeup segment experiencing a decline in sales [30][28]. Group 5: Market Outlook and Challenges - The collective move into beauty by fashion brands raises questions about the sustainability of this strategy amid economic downturns [46]. - The beauty market's appeal remains strong, but the success of these ventures will depend on the brands' ability to adapt and innovate in a competitive landscape [46].

Group 1 - LVMH is increasing its expansion efforts in South Korea to diversify its global business due to geopolitical and economic uncertainties affecting major markets like the US [1] - The flagship stores of Louis Vuitton and Dior in Seoul's Cheongdam area are set for expansion, with Dior's renovation possibly starting in 2027, including a permanent restaurant [1] - Bulgari is considering opening its first flagship store in South Korea, while Tiffany's flagship store is scheduled to open in Cheongdam in 2027 [1] Group 2 - The South Korean market is seen as a bright spot for luxury brands due to strong consumer love for luxury goods, economic resilience, and high consumer confidence [1] - Sales of Louis Vuitton, Hermès, and Chanel in South Korea grew nearly 10% last year, reaching $3.3 billion [1] - The increase in luxury sales is also driven by a surge in tourists from China and Japan, along with the depreciation of the Korean won, with tourist spending reaching a record 9.26 trillion won (approximately $6.6 billion) last year [1] Group 3 - Other luxury brands are also optimistic about the strong demand in the South Korean market, with Richemont reporting a 20% sales increase in Korea for the fiscal year ending in March [2] - Richemont opened a new flagship store for its Swiss watch brand Vacheron Constantin in Seoul, featuring Korean art exhibitions and private lounge spaces [2] - Hermès has relocated and expanded its flagship store in Seoul, reopening in August [2]