Group 1 - Meta is collaborating with Prada to develop AI smart glasses, expanding its technology beyond its existing partnership with EssilorLuxottica [1][2] - The partnership with Prada indicates Meta's strategy to engage more fashion brands in the smart glasses market [2] - Meta has previously sold millions of Ray-Ban Meta AI smart glasses and is also working on a collaboration with Oakley, which may be announced soon [3] Group 2 - The upcoming Oakley smart glasses are expected to be priced around $360 [3] - The renewed partnership between Prada and EssilorLuxottica highlights the ongoing relationship between fashion and eyewear industries [2] - Meta's efforts to diversify its collaborations suggest a broader ambition to integrate AI technology into various fashion segments [2]

Core Insights - Tapestry Inc is experiencing a growth split between its key brands, with Coach showing significant recovery and projected 32% upside for the overall company stock by year-end, while Kate Spade is underperforming [1][6] Group 1: Coach's Performance - Coach is the primary driver of Tapestry's growth, benefiting from a balanced multi-year revenue increase due to average unit retail price hikes and sustainable unit sales growth [2] - Handbag prices for Coach are increasing, supported by improved full-price selling and innovative product lines, reversing previous declines in unit sales [3] - The brand is attracting younger customers, particularly Gen-Z and Millennials, who are spending more and frequently returning, which also encourages older customers to re-engage [4] Group 2: Kate Spade's Challenges - Kate Spade has faced revenue declines this year, with management adopting a cautious approach due to uncertain macroeconomic conditions, and its fourth quarter guidance indicates a sales drop [5] - The brand is currently in a supporting role within Tapestry's portfolio, contrasting with Coach's expected low-double-digit growth [5] Group 3: Overall Outlook for Tapestry - Tapestry's potential upside is largely contingent on Coach's revival, driven by pricing power, customer rejuvenation, and category expansion, with a price target of $104 for investors to monitor [6]

RELEASE Paris, June 16, 2025 INFORMATION RELATING TO THE TOTAL NUMBER OF VOTING RIGHTS AND SHARES COMPRISING THE SHARE CAPITAL In accordance with the provisions of Article L. 233-8 of the French Commercial Code (Code de commerce) and Article 223-16 of the General Regulations of French Autorité des Marchés Financiers (AMF), Hermès international publishes each month, before the 15th day of the following month, the total number of voting rights and the number of shares comprising the share capital if they have ...

Auction Event - An original Hermès Birkin bag that belonged to Jane Birkin is going up for auction [1] Luxury Goods Market - The auction highlights the enduring value and collectibility of iconic luxury items [1]

Core Insights - Richemont has published its combined Annual Report and Non-Financial Report for the fiscal year ending March 31, 2025, which includes comprehensive financial statements and governance details [3][4]. Financial Reporting - The Annual Report includes the Chairman's review, consolidated financial statements, and audit reports, previously released on May 16, 2025 [3]. - The Non-Financial Report adheres to the Global Reporting Initiative (GRI) Standards and complies with Swiss Code of Obligations, including climate disclosures [4]. Availability of Reports - Both reports are accessible for download on Richemont's official website, with hard copies available upon request [5]. - In South Africa, the reports can be obtained directly from the Depository Agent, Computershare Investor Services [6]. Company Overview - Richemont is known for its prestigious Maisons, focusing on craftsmanship and creativity, with a commitment to sustainable growth [7]. - The company operates in three main business areas: Jewellery Maisons, Specialist Watchmakers, and Fashion & Accessories Maisons [8]. Stock Information - Richemont A shares are listed on the SIX Swiss Exchange and included in the Swiss Market Index (SMI), with a secondary listing on the Johannesburg Stock Exchange [9].

为纪念标志性 Intrecciato 皮革编织工艺诞生 50 周年，Bottega Veneta 正式发布全球 Campaign「匠艺吾 言」（Craft is our Language）。该项目由摄影师 Jack Davison 与编舞家 Lenio Kaklea 共同操刀，以「双 手」为核心意象，将工艺升华为跨文化、跨世代的通用语言，强化品牌「无 Logo 美学」的差异化定 位。 此次Campaign不仅是一次庆典，更是品牌资产系统化工程：今年 9 月将推出纪念书籍，收录 50 个象征 工艺价值的手势动作，构建品牌专属「工艺词典」。此举延续了创意总监 Matthieu Blazy 任内对工艺遗 产的深度挖掘——从删除社交媒体账号回归产品本质，到联名艺术刊物《Magma》与 Richard Scarry 胶 囊系列，持续以文化资本巩固高端定位。 Intrecciato 工艺诞生于 1966 年意大利威尼托工坊，因缝纫机无法处理厚皮革，工匠创新采用手工编织 技法，意外成就品牌最具辨识度的视觉与触觉符号。其斜纹结构与黄金比例，完美诠释品牌箴言"When your own initials are enough" ...

Core Insights - Luxury brands that significantly raised prices during periods of high consumer spending are now facing severe sales declines [1][4] - LVMH's Christian Dior and Chanel reported substantial sales drops, with Dior's fashion and leather goods sales down 5% and Chanel's sales down 4% in 2024 [1][2] - In contrast, Hermès and Richemont continue to experience strong growth, with both companies reporting a 7% increase in sales in the first quarter of this year [1] Price Increase Analysis - During the pandemic, luxury brands raised prices significantly, with an average increase of 36% from 2020 to 2023, double the U.S. inflation rate [2] - Chanel and Dior's price hikes were particularly aggressive, at 59% and 51% respectively, while Hermès only increased prices by 20% [2] - Chanel's Classic Flap handbag exemplifies this trend, rising from $5,800 in 2019 to $10,800 today [2] Market Share Dynamics - Price is not the sole factor in the performance decline of brands like Chanel and Dior; Chanel is also undergoing a creative transition with a new designer [3] - Chanel has halted price increases in the U.S. market since March 2024, a departure from its usual practice of biannual price hikes [3] - Luxury brands face challenges in lowering prices without damaging their brand image, as they invest heavily in advertising to justify high prices [3] Long-term Implications - Brands that maintained moderate pricing during the pandemic, like Hermès and Richemont, may be better positioned to avoid potential tariff impacts and protect profit margins [3] - Hermès has successfully passed on tariff costs to U.S. consumers, while Richemont's strong demand allows for potential price increases without immediate hikes [3]

Group 1 - The article suggests diversifying investment portfolios away from US-heavy allocations due to potential tariff threats that could reshape global trade, with a focus on high-quality European stocks that have geographically diversified revenue streams [1] - The emphasis is on investing in high-quality businesses with strong growth potential, solid fundamentals, industry-leading profitability, low leverage, and room for growth, particularly in the US and Europe [1] - The investment strategy discussed is centered around capital allocation and identifying businesses that are worth holding for the long term, highlighting the importance of thoughtful portfolio building [1]

Investment Rating - The report does not explicitly state an overall investment rating for the luxury goods industry, but it indicates a preference for companies with high-end exposure and diversified large/mid caps with margin defensiveness, while remaining cautious on turnaround stories in a tough industry backdrop [7]. Core Insights - The luxury goods market is experiencing price increases across various brands, particularly in the US, as companies aim to offset inflation and tariffs. Brands such as Louis Vuitton, Moncler, Burberry, and Hermès have implemented notable price hikes [2][7]. - The pricing tracker indicates that overall price gaps across regions have decreased, with the US experiencing a tightening price gap with Europe despite recent price increases [3][5]. - China remains the most expensive market for luxury goods, with a premium of approximately 20-25% compared to Europe. However, there is ongoing softness in the luxury market in China, raising questions about consumer appetite [6][7]. Summary by Sections Pricing Trends - Several luxury brands have increased prices in the US, with notable increases from Louis Vuitton (+L-MSD), Moncler (+LSD), and Burberry (+HSD) [2]. - The current price increases are designed to offset a 10% level of additional tariffs, with potential for more global price increases if tariffs rise further [7]. Regional Analysis - The US has seen a recent weakening of the dollar, which has tightened the price gap with Europe, making luxury goods less attractive for American consumers traveling to Europe [3][5]. - Chinese consumers are showing strong demand for luxury goods, particularly in Japan, where spending nearly doubled year-on-year in FY24 [6]. Brand-Specific Observations - Moncler has the largest price gap between Europe and China at approximately 30%, but this gap has compressed significantly over the past decade [7]. - The report highlights that brands are likely to focus on narrowing the price gap between China and Europe, with Moncler seeing further opportunities to reduce this gap [7].

Core Viewpoint - Ralph Lauren plans to raise prices to offset tariff costs, supported by strong demand from high-end customers [1] Pricing Strategy - The company is assessing additional pricing actions for fall 2025 and spring 2026 to mitigate tariff impacts, building on proactive pricing already planned for 2025 in North America and Asia [2] - Ralph Lauren has increased its average unit retail (AUR) every quarter for the past eight years, with a high single-digit increase in AUR expected for the current quarter compared to the previous year [2] Brand and Quality Enhancement - The company has elevated its AUR by enhancing brand quality, adjusting geographic and channel mixes, reducing discounts, and selectively raising prices [3] - These strategies provide confidence in managing cost headwinds while maintaining strong pricing power [3] Consumer Resilience - Despite weakening consumer confidence in the U.S. and potential broader consumer pullback, Ralph Lauren's core consumers remain resilient [4] - The company has not observed changes in sales trajectories across its regions (APAC, EMEA, North America), with full-price sales continuing to grow [5] Market Context - The remarks from Ralph Lauren follow reports of soft demand from luxury conglomerate LVMH due to weaker consumer confidence in China and other markets [5] - In contrast, luxury group Richemont plans to limit price increases to avoid customer backlash seen by some competitors [6]