Retail News CRM

Tag: Azzedine Alaïa

  • Richemont Group sales soars after YNAP acquisitions

    Richemont Group sales soars after YNAP acquisitions

    Richemont Group sales soared 24 per cent in December quarter, to €3.915 billion. It was largely down to the inclusion of online acquisitions Yoox-Net-A-Porter (YNAP) and Watchfinder, which were consolidated into the group’s accounts on May 1 and June 1, respectively. But even excluding that, the sales growth was still strong at 5 per cent by constant exchange rates.

    By region, European sales accelerated at twice the rate of Asia, up 35 per cent at constant exchange rates, with Asia Pacific – still the company’s largest single geographic market – up by 17 per cent.

    Sales in Europe reached €1.147 billion in the quarter, and in Asia €1.389 billion. Sales in the Americas surged 41 per cent to €801 million and in Japan by 14 per cent to €344 million.

    The only market where Richemont failed to perform was the Middle East and Africa, where sales slipped 3 per cent to €234 million.

    The company’s largest category, jewellery maisons, recorded 8 per cent growth to €1.985 billion, while Richemont said YNAP posted double-digit growth across all regions and solid performances across all its categories. Watchfinder’s sales expanded “more moderately”.

    Excluding the new online business unit, Richemont Group sales grew in all regions, with the exception of the Middle East and Europe. During the latter part of the quarter, sales in Europe were affected by social unrest in France which impacted tourism and led to store closures for six consecutive Saturdays. The disposal of Lancel in June also impacted the year-on-year comparison.

    A 10 per cent increase in sales in Asia Pacific reflected double-digit sales growth in Mainland China and good increases in other main markets. Sales growth in Hong Kong slowed, primarily due to the strength of the Hong Kong dollar versus the renminbi that resulted in lower tourist spending.

    In Japan, a 7 per cent expansion in sales was fuelled by continued domestic and tourist spending as well as the impact of newly opened directly operated boutiques.

    Sales in the Americas rose by 9 per cent, primarily driven by the jewellery maisons.

    Of Richemont’s many brands, Cartier and Van Cleef & Arpels led the way, increasing sales by 8 per cent, driven by jewellery and watches.

    Richemont operates in four business areas: jewellery maisons, being Cartier and Van Cleef & Arpels; specialist watchmakers, being A. Lange & Sohne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; online distributors, being YNAP and Watchfinder; and other businesses, including Alfred Dunhill, Azzedine Alaïa, Chloe, Montblanc and Peter Millar.

    Lees ook:

    Lees ook:

  • Azzedine Alaïa dies at the age of 77

    Azzedine Alaïa dies at the age of 77

    Alaïa was one of the industry’s few designers willing to follow his own conventions and ignore fashion schedules, creating his collections at his own pace.

    His ability to do so stemmed from his prodigious talent and fashion’s seemingly insatiable appetite for his designs.

    His skill at cutting and his idiosyncratic takes on classic silhouettes have made Alaïa popular for decades; his designs remain the aspirational zenith for many.

    “It is with great sadness that I learned of the passing of Azzedine Alaïa,” François-Henri Pinault, Kering’s chairman and chief executive, told BoF. “In the fashion world, he was a great, a major couturier. Everything was at the top with him: couture, art, the standards he aimed at, his dedication to his work, his mastering of techniques, and all the women he dressed. He was an artisan in the noble sense of the term, and a man fiercely attached to his freedom. He was a friend.”

    Alaïa’s love of fashion began through his reading of Vogue at a young age.

    Lying about his age to attend the École des Beaux-Arts in Tunis, he began working as a dressmaker after graduating, before electing to move to Paris in 1957.

    There he started his career at Christian Dior as a tailleur, but soon moved to work for Guy Laroche for two seasons and then on to Thierry Mugler.

    He opened his first atelier in his Rue de Bellechasse apartment in the late 1970s, from which he dressed his private clientele, which included Marie-Hélène de Rothschild, Louise Lévêque de Vilmorin and Greta Garbo.

    In 1980 he produced his first ready-to-wear collection, which was championed by the then doyennes of fashion, Melka Tréanton of Depeche Mode and Nicole Crassat of French Elle, who both regularly featured his work in their respective magazines.

    That same year the designer moved to larger premises in Paris and by 1988 Alaïa had opened boutiques in Beverly Hills and New York, and was soon dubbed the “King of Cling” by the media.

    During the mid-’90s Alaïa partially retired from the fashion scene for personal reasons.

    In 2000, Alaïa signed a partnership with the Prada Group. He then bought his brand back from the group in 2007 before entering an agreement with Richemont.

    Lees ook:

  • Richemont expects weaker half-year earnings after restructuring costs

    Richemont expects weaker half-year earnings after restructuring costs

    Luxury goods maker Richemont said on Wednesday that it expected operating profit in the six months to September to decline by 45% from a year ago.

    The Luxembourg-and JSE-listed group said in a statement that the decline reflected the effect of one-off restructuring charges of about €65m, and the additional effect of inventory buybacks.

    “We are of the view that the current negative environment as a whole is unlikely to reverse in the short term. However, we remain convinced of the long-term prospects for luxury goods globally and in particular for watches and jewellery,” it said.

    Sales in the five months to August dropped 13% at constant exchange rates and 14% at actual rates.

    Richemont said sales in the UK had shown growth since the weakening of pound against most currencies at the end of June following the EU referendum.

    Elsewhere in Europe, sales were down, particularly in France, due to a significantly lower level of tourist activity.

    There was positive momentum in both jewellery and accessories in the Americas, but an overall decline in sales due to a weaker performance in watches.

    In the Asia-Pacific region, growth in mainland China and Korea was more than offset by the continuing weakness of the Hong Kong and Macau markets.

    Retail declined overall, primarily due to Europe and Japan. All other regions’ sales declines were low single digits, supported by jewellery and accessories. The marked decrease in wholesale sales reflected the continuing negative trend and the watch inventory buybacks.

    Richemont’s other businesses reported sales growth, thanks to positive performances at Montblanc, Chloé, Azzedine Alaïa and Peter Millar.