Since he joined Burberry as CEO in July, Joshua Schulman has wasted no time in trying to right the ship, with the twin brakes pressing, the slowdown in luxury demand and by past strategies that pushed the brand into territory too specialised, too fashionable and too expensive, and without ever inviting journalists.
His strategy to restore sales and profit growth is to connect the dots between the creative and marketing teams, and has revealed plans to speak to a wider customer base, particularly those left out by Burberry’s failures in the haute couture arena. There’s still a long way to go, though, as couture will require a designer.
A few hours before Schulman spoke to analysts, Burberry announced a 20% drop in retail sales.
And the company announced an adjusted operating loss of £41 million. Its plan is to fill shops and advertising campaigns with flagship products, install ‘scarf bars’ and ‘trench destinations’ in shops, capitalise on gabardine, the brand’s iconic waterproof fabric patented by Thomas Burberry in 1888, and make the brand recognisable once again to its loyal customers, who have never stopped loving the check pattern.
Loro Piana is floating into Harrods on clouds of cashmere and vicuña for a grand-scale holiday takeover marking the Italian brand’s 100th anniversary celebrations.
Elie Saab is strengthening its handbag division and has appointed Marina Raphael as its new artistic and design director.
In Occoquan, Virginia, local authorities asked Andre Soriano, a sort of “Liberace copycat,” to remove 11 pro-Donald Trump signs from the exterior of his building. A four-story building houses Soriano’s store on the ground floor and his residence on the second floor.
Bottega Veneta’s new fragrance collection, comprised of five scents, was designed to be the very essence of the house. This is the first major product launch unveiled by Kering Beauté since the division launched in January 2023.
The more madmen there are, the more dangerous it is to laugh. Proverbs are the prophets of the professionals of prophecy. The majority of luxury brands are truly “bullshiters”, and to denounce this, the shoe company Payless, which are not of very high quality, but of good quality nonetheless, decided to do a little test in 2018: Open a new store by making believe that it is a luxury brand, and this, by selling the same shoes. This new store is located in the middle of Los Angeles, with an adequate luxury decoration. Thus, the trap will close.
Dior has announced the restoration of Venice’s Porta Magna, underscoring its ties to Venice. The answer to the Prince of Venice, its direct competitor Pinault.
The Federal Trade Commission successfully halted Tapestry Inc.’s $8.5 billion acquisition of Capri Holdings with a preliminary injunction, likely derailing the mega-acquisition.
I don’t like the suburbs, living in the center of Paris, but I forced myself to go to the Porte d’Aubervilliers, taking the Queen Mago metro. Not taking my bike to eliminate the risk of being run over by motorists annoyed at being in traffic jams all day. Finally, the Paris “Tube” ripped me off for 2.50 euros to go see the “Lesage and 100 years of fashion” exhibition.
Lines stretched around the Chanel building for the preview opening of Art Basel Paris on Wednesday, reflecting the excitement surrounding the rebranded fair’s move to its new home, the newly renovated Grand Palais.
Organize their fashion show in an unusual place, Disneyland Paris, as part of Fashion Week. A big first for the famous amusement park, which was built thirty-two years ago, for a show that the Mickeys of fashion will say is magical, innovative, in short, Coperni, I don’t like it.
Dreaming is not waiting, but seeking to achieve one’s goal against all odds, she will tell us. It is the strength of the mind that makes one move forward in life, gain ground, fight, struggle against the elements and against wind and tide, this is the Leitmotif of this Breton woman with a strong character.
After four years of Fendi’s turbulent collaboration with the Roman house, Kim Jones is leaving Fendi. The British designer, whose position at Fendi was artistic director of women’s haute couture, ready-to-wear and fur collections, will continue in his role as artistic director of men’s collections at Dior in Paris.
