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Tag: Louis Vuitton

  • Louis Vuitton and Supreme to host first collaboration pop up in Sydney

    Louis Vuitton and Supreme to host first collaboration pop up in Sydney

    The long-awaited collaboration between Louis Vuitton and Supreme has finally come, and the two labels announced the location of the first collaboration pop up shop.The LVxSupreme collaboration debuted in January at the Louis Vuitton fall 2017 show.
    Louis Vuitton and Supreme fans in Sydney, Australia will be happy to hear that the world’s first LVx Supreme pop up will be located at 95 Roscoe St in Bondi Beach, and the pop up will be open from June 30 through July 13, 2017.

    The fashion world went into frenzy in January when the LVxSupreme collaboration collection debuted at the Louis Vuitton fall 2017 show in Paris.

    Rumors of a New York City pop up began circulating and looked real for a period of time, until a Manhattan community board unanimously voted against the idea, citing preparedness concerns. The board felt that those manning the event would not be ready for the number of shoppers that would line up for the pop up, which was originally planned to be located at 25 Bond Street.

    Since the possibility of a New York City pop up has been shut down, Sydney will host the first pop up for the collaboration, and more pop up locations are to be announced soon.

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  • Louis Vuitton brings its spirit of travel to South Korea

    Louis Vuitton brings its spirit of travel to South Korea

    French leather good house Louis Vuitton is embracing its traveler heritage to bring its “Volez Voguez Voyagez” exhibit to Seoul, South Korea.

    Described as a 161-year voyage, Louis Vuitton’s Volez Voguez Voyagez retrospective opened in 2015 at Paris’ Grand Palais, a special site for the brand as it displayed its bags and luggage there during the Universal Exhibitions in 1900. The title of the exhibition translates to “Fly, Sail, Travel” to celebrate Louis Vuitton’s tradition of trunk making that dates back to 1854.

    Now a traveling exhibit dedicated to Louis Vuitton’s spirit of travel, Volez Voguez Voyagez is curated by Olivier Saillard.
    The exhibit’s story is told through nine chapters, designed by Volez Voguez Voyagez’s artistic director Robert Carsen. This starts with an antique malle from 1906, design and modern enough to carry the brand through its more than 150-year history.

    Throughout this exhibition, Louis Vuitton makes the connection between the old and new, focusing on how modern pieces were inspired by antiquities; and highlighting the people behind the brand throughout its history.

    Since its original opening in Paris, Louis Vuitton’s Volez Voguez Voyagez has traveled to Tokyo.

    The Tokyo adaptation of the exhibit gave Louis Vuitton an opportunity to interact with its Japanese consumers and demonstrate its relationship with the country. Louis Vuitton has maintained ties with Japan since the end of the 19th century, citing the Mon, or family crest, as an inspiration of its iconic Monogram canvas.

    Now, Louis Vuitton is packing its bags and heading to Seoul, South Korea to stage the exhibit.
    From June 8 to August 27, consumers in South Korea will be able to view the free Volez Voguez Voyagez exhibit at the Dongdaemun Design Plaza.
    Similar to its stop in Tokyo, Louis Vuitton has added a chapter to the exhibit devoted to South Korea. South Korea is a popular destination for luxury branded heritage exhibits. For example, nearly two years after its London debut, French couture house Chanel took its “Mademoiselle Privé” exhibit to Seoul, South Korea.

    Originally showcased in 2015 at London’s Saatchi Gallery, the public exhibit explored the spirit of brand founder Gabrielle Chanel and current creative director Karl Lagerfeld. Taking this exhibit abroad allowed Chanel to share its story with a larger, global audience.

  • Louis Vuitton plans first airport duplex boutique for Changi

    Louis Vuitton plans first airport duplex boutique for Changi

    French luxury maison Louis Vuitton will open its first duplex boutique in an airport early next year, opting to bow the store inside Singapore’s Changi Airport.

    Opening January 2018, the duplex boutique will be located in Changi’s new ‘Crystal Garden’ in Terminal 3’s Departure Transit Hall.

    Covering 530 square metres and two levels, the new space will feature tiered garden beds with a selection of flora and spheres of artisan glass sculptures. It is the first time the airport is integrating a feature garden with a retail store, and first airport boutique for Louis Vuitton to span two levels.

    The Changi debut is also the first airport store in Asia Pacific to be directly managed by Louis Vuitton.

    “Singapore Changi Airport is such an important location for us, and we are happy to offer this new store, not only to our Asian customers but also the international travelers who transit by this airport,” said Michael Burke, Chairman and CEO of Louis Vuitton, via a press release.

    Louis Vuitton will be the latest addition to Changi Airport’s retail fold, which boasts more than 360 retail stores sprawled over 76,000 square metres of floor space.

    “We are thrilled to partner with Louis Vuitton, who shares our vision to redefine the future of luxury retail in an airport,” said Changi Airport Group chief executive officer Lee Seow Hiang.

    “The revolutionary duplex store, set amidst an elegant Crystal Garden, will become a distinctive attraction for passengers who fly through Changi Airport, and we look forward to embarking on an exciting journey of discovery with them when the store opens.”

    Changi Airport generated retail sales of S$2.3bn in 2016.

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  • LVMH sales soar as shoppers return to luxury

    LVMH sales soar as shoppers return to luxury

    LVMH sales surged 15 per cent in the latest quarter to €9.88 billion (US$10.477 billion).

    That was nearly €400 million more than analysts had been expecting, with the result driven across all of the luxury group’s business units.

    Fashion and leather goods, which account for more than half the company’s turnover, rose 15 per cent during the quarter. That compares with static growth the same quarter last year. Fendi and Louis Vuitton were singled out by analysts as strong performers, with Celine, Kenzo, Loewe and Berluti also showing progress.

    LVMH’s leather and fashion brands also include Dior, Emilio Pucci, Fendi, Givenchy, Louis Vuitton, Marc Jacobs, Moynat, Rimowa and Thomas Pink.

    ‘Selective retailing’,  the group’s second-largest division, had been dragged down by DFS in prior quarters, offsetting a strong performance by Sephora cosmetics chain, observed Deborah Aitken, an analyst with Bloomberg Intelligence. But the latest quarter it showed improvement of 11 per cent. Sephora continued to gain market share globally and recorded double-digit revenue and profit growth for the quarter.

    “This could be an important turnaround,” said Aitken.

    Liquor – including brands such as Cape Mentelle, Chandon, Cloudy Bay, Dom Pérignon, Glenmorangie, Hennessy, Krug, Moët & Chandon and Veuve Clicquot – was the second best performing sector, up 13 per cent organically. Hennessy was a star performer.

    Sales of watches and jewellery also rebounded, rising 11 per cent. Bulgari continued to gain market share and Tag Heuer successfully launched its new Connected Modular 45 watch.

    And the perfume and cosmetics business grew sales by 12 per cent.

    Fung Global Retail observed that Parfums Christian Dior reported good growth and Guerlain launched a new women’s fragrance called Mon Guerlain during the quarter. Parfums Givenchy benefited from the success of lipstick lines, which saw rapid development in Asia. In addition, the Kat Von D brand launched exclusively in January 2017 at Sephora in France.

    Managing expectations

    While the company was clearly pleased with its results it did warn shareholders to keep their expectations modest, pointing out the growth had come against a 2016 quarter when the industry was struggling with Paris terror attacks. It said such levels of growth should not be expected for the full year.

    LVMH shares rose to a record in Paris after the results were announced.

    The LVMH figures will set the standard for a raft of luxury retail earnings due to be released in the coming days. Prada reports results today and Kering, parent of Gucci, on April 25.

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  • Louis Vuitton Changi duplex to open in January 2018

    Louis Vuitton Changi duplex to open in January 2018

    Louis Vuitton is to open a two storey store at Singapore’s Changi Airport – its first passenger terminal duplex in the world.

    The Louis Vuitton Changi store is scheduled to open in January 2018 as the centrepiece of a new garden in Terminal 3’s departure transit hall.

    Designed as a glasshouse it will be built in the centre of the planned Crystal Garden, which Changi management say is “inspired by artistic floral centrepieces” and a new space “chicly adorned with tiered garden beds featuring a curated selection of flora and spheres of artisan glass sculptures”.

    The 530 sqm Louis Vuitton Changi store will be first the airport store in Asia Pacific to be directly managed by the French luxury retail group and feature a tailored product mix suited to travellers.

    Michael Burke, chairman and CEO of Louis Vuitton, says his company had waited for “the perfect moment” and “the perfect place” to open the new store at Changi Airport.

    “Louis Vuitton is a brand intrinsically related to the history of modern travel. Given the right place and the right timing, it was more than natural for Louis Vuitton to create a space inside Singapore Changi Airport, dedicated to modern travelers.”

    Since it opened in 1981, Changi Airport has pioneered the concept of airport gardens, now well-loved among travellers.

    “This is the first time Changi is integrating a feature garden with a retail store – a testament to how the airport constantly strives to rejuvenate its award-winning amenities and offerings to enhance the Changi Experience.”

    Changi Airport Group CEO Lee Seow Hiang says Louis Vuitton shares the airport company’s vision to redefine the future of luxury retail in an airport.

    “The revolutionary duplex store, set amidst an elegant Crystal Garden, will become a distinctive attraction for passengers who fly through Changi Airport, and we look forward to embarking on an exciting journey of discovery with them when the store opens.”

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  • New face of Louis Vuitton Hong Kong Landmark

    New face of Louis Vuitton Hong Kong Landmark

    Following a transformation, the Louis Vuitton Hong Kong Landmark has a new look.

    At one of the busiest junctions in Hong Kong, the flagship maison in Central has a new glass facade designed by Japanese architect Jun Aoki, who also designed the exterior of the brand’s store in Ginza, Tokyo.

    There is a new interior by New York architect/interior designer Peter Marino, who has designed Louis Vuitton stores in London and Los Angeles. It includes an intimate space across two floors where customers can sit on plush sofas and lounge chairs while browsing through the latest collections of ready-to-wear, leather goods, accessories, fragrance, jewellery, watches and shoes. There is also a private space by invitation only for a personalised shopping experience.

    There was a red-carpet opening in The Landmark atrium for the redesigned store, attended by special guests including Hong Kong actress/model Janice Man (Wing-San Man).

    As well as the complete revamp of the Landmark maison, Louis Vuitton is also rebuilding its flagship store in Canton Road, which opened in 2008.

    “The leader in the market believes in Hong Kong,” says LV CEO/chairman Michael Burke, who says the company needs to keep investing in Hong Kong as a “unique, iconic destination in the world that will remain important for Chinese shopping”.

    “There was a moment two years ago in Hong Kong when the day trippers were excessive,” he says. “We had what we call ‘froth’ in the market. If we have a drop in froth, there’s no problem.”

    He says the key is looking long-term, with short-term swings, temporary rises and falls, not really affecting strategy.

    “We’re coming back now to a more healthy situation. The norm is going to be the steady, uphill growth of the upper middle class in China.”

    LVMH chairman/CEO Bernard Arnault also believes Hong Kong’s downturn is just a “cyclical problem”.

    “Hong Kong will remain one of the high points in Asia and one of the drivers of our growth,” he says.

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  • DFS Group completes City of Dreams store

    DFS Group completes City of Dreams store

    Luxury travel retailer DFS Group has unveiled the final phase of T Galleria by DFS, City of Dreams store in Macau following a year-long expansion.

    DFS Group chairman/CEO Philippe Schaus says the the store offers travellers the breadth of a luxury shopping mall with the personalised service of a high-end department store.

    An expanded jewelry offering was also unveiled in December, bringing key luxury jewelry brands Tiffany & Co. and Van Cleef & Arpels to T Galleria by DFS, City of Dreams as well as new watches boutiques from Audemars Piguet and Vacheron Const
    An expanded jewelry offering was also unveiled in December, bringing key luxury jewelry brands Tiffany & Co. and Van Cleef & Arpels to T Galleria by DFS, City of Dreams as well as new watches boutiques from Audemars Piguet and Vacheron Constantin

    Opening in 2009, T Galleria by DFS, City of Dreams expanded throughout last year to more than three times its original size. Stretching across 173,000 sqft (16072 sqm), the expanded store includes the group’s debut shoe hall. The largest shoe floor in Hong Kong and Macau, it features more than 50 men’s and women’s shoe brands across two levels, including exclusive-to-Macau brands such as Aquazzura and Rupert Sanderson.

    Men can also enjoy a dedicated multi-branded, lifestyle area that mixes ready-to-wear, accessories, shoes, watches and grooming all in one space to allow shoppers to complete a head-to-toe look with ease
    Men can also enjoy a dedicated multi-branded, lifestyle area that mixes ready-to-wear, accessories, shoes, watches and grooming all in one space to allow shoppers to complete a head-to-toe look with ease

     

    There are more than 40 fashion and accessories brands in the outlet, including Dior, Fendi, Louis Vuitton, Miu Miu and Prada. The expanded beauty offering comprises two wings across 23,000 sqft and nearly 70 beauty and fragrance brands, making it the largest beauty hall in southern China. Highlights include Korean brands Hera, Laneige and Sulwhasoo.

    DFS Macau, City of Dreams – beauty

    For men there is a multi-branded lifestyle area that mixes ready-to-wear, accessories, shoes, watches and grooming in one space.

    DFS Macau. 1

    DFS Macau. 3

    An expanded jewellery offering was unveiled in December, bringing in such brands as Tiffany & Co and Van Cleef & Arpels. There are also new watch boutiques from Audemars Piguet and Vacheron Constantin.

    DFS Macau, City of Dreams - WJA Event

    T Galleria by DFS, City of Dreams is one of four T Galleria stores in Macau, including T Galleria by DFS, Shoppes at Four Seasons; T Galleria by DFS, Studio City; and the standalone beauty hall T Galleria Beauty by DFS, Galaxy Macau.

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  • Hugo Boss Asia sales rebound

    Hugo Boss Asia sales rebound

    Rebounding Hugo Boss Asia sales have prompted the German fashion retailer to revise its profit outlook.

    The company’s stock price soared as much as 10 per cent after management said improved sales in Asia and Britain mean its profit decline will be less than previously predicted in the current financial year.

    Hugo Boss Asia like-for-like sales soared 20 per cent in the latest quarter, after currency adjustments.

    Asia accounts for about 20 per cent of Hugo Boss’ global sales and after currency adjustment, regional revenues rose 5 per cent in the fourth quarter – a significant turnaround from the 3 per cent decline of the previous quarter. The increase was aided by adjusting pricing more into line with those of the US and Europe.

    It is now forecasting an operating profit for 2016 which is better than the previously predicted  decline of between 17 and 23 per cent. Final results will be revealed on March 9.

    Rival fashion retailers Gucci and Louis Vuitton have also recently  reported improving sales in Mainland China as consumers open their wallets again, encouraged by government policies aimed at boosting local consumption rather than shopping abroad.

    CEO Mark Langer said in a statement that fourth-quarter results underline the company is on the right track.

    Total sales fell 3 per cent to 725 million euros (US$769 million), down 1 per cent on a currency adjusted basis, but a far better result than the third-quarter’s fall of 6 per cent. The damage was done in the US where sales fell 14 per cent on a currency-adjusted basis, partly due to the brand’s decision to stop selling in discount and outlet stores.

    Sales in Europe rose 2 per cent.

  • Alibaba joins forces with counterfeited brands

    Alibaba joins forces with counterfeited brands

    Chinese eCommerce giant Alibaba has teamed up with some of the world’s most-counterfeited brands to fight against copycats.

    Collaborating with such global brands as Louis Vuitton, Samsung and Swarovski, Alibaba will provide its members with big data and other support to help them block, identify and even take down listings from its marketplaces such as Taobao and Tmall. Those two sites boast 1 billion product listings at any given time.

    In return, the brands have committed to share their anti-counterfeiting data with Alibaba.

    The move follows a lawsuit filed by the internet powerhouse against two vendors selling knock-off Swarovski watches from their online shopping bazaars on Taobao, claiming 1.4 million yuan (US$202,950) in losses. Taobao is the retail platform for smaller merchants.

    “The most powerful weapon against counterfeiting today is data and analytics, and the only way we can win this war is to unite,” says Alibaba’s chief platform governance officer Jessie Zheng.

    “Alibaba welcomes brands and other organisations to join us in what we believe is the world’s first ‘big-data anti-counterfeiting alliance’.”

    Taobao was returned to the US government blacklist of “notorious markets” last month for hosting fake items, four years after Alibaba lobbied American trade officials to drop the platform from the list.

    Listings removed

    Alibaba says it is disappointed by the decision, noting it has “proactively removed more than double the number of infringing product listings than in 2015”. The company employs 2000 permanent staff and 5000 volunteers devoted to spotting fake goods.

    According to the International Anti-Counterfeiting Coalition, a nonprofit watchdog overseeing piracy concerns, China is the biggest market for knockoffs globally with handbags, footwear, watches and iPhones topping the list of most-faked items.

    Louis Vuitton, Nike, Ray Ban and Rolex are among the labels that seem to be more intensely targeted by counterfeiters, says a report by the Organisation for Economic Co-operation and Development (OECD).

    Domestic brands also have fallen victim. Chinese liquor maker Kweichou Moutai has confiscated 300 tonnes of fake Moutai in a three-year drive against bootleggers, whose products can feature packaging identical to genuine products.

    Chinese authorities have also stepped up efforts to root out people involved in marketing fake goods, staging raids and arresting thousands of suspected offenders.

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  • Louis Vuitton Singapore 20 years anniversary gift

    Louis Vuitton Singapore 20 years anniversary gift

    Louis Vuitton Singapore has given its Orchard Road boutique in Singapore a makeover to celebrate its 20 years at Ngee Ann City.

    The maison’s signature monogram flower pattern has been reinterpreted in shiny copper with a fading effect, with the exterior façade featuring stone, glass and metal – materials that signifies authenticity and tradition.

    Inside the luxurious fittings include cerused oak with gold leaf, natural stone floors, plush furniture by Helene de Saint Lager and Paul Evans, and hand-knotted carpets from Nepal.

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  • LVMH will expand to eyewear business

    LVMH will expand to eyewear business

    Luxury brand group LVMH is thinking about taking its eyewear business in-house.

    This could be a further blow for Italian eyewear group Safilo, which lost the Armani licence in 2013 and those for the Kering Group labels (Alexander McQueen, Bottega Veneta, Gucci and Saint Laurent) at the end of 2014, reports CPP-Luxury.com.

    Italian investment bank Mediobanca has published a report about Safilo, owned by Dutch investment fund Hal, focussing on its announcement that its licence agreement with Celine has been terminated while its contract with Christian Dior has been extended until 2020. The licence for Celine’s eyeglass collections – the LVMH label joined Safilo’s portfolio in 2012 – ends on December 31.

    While the licence agreement for the design, production and distribution of eyeglasses and sunglasses for Dior and Dior Homme, also part of LVMH’s galaxy, has been extended until the end of 2020, Mediobanca says the extension is for three years only, not for seven years as was the case for the previous contract, renewed in September 2010.

    The bank’s analysts noted that the standard renewable licence contract is for five years.

    “We believe markets are much more volatile than in the past, and renegotiating contracts on a more frequent basis may be to the advantage of both parties,” says the bank. “But we think this could also signal a change in LVMH’s approach as the group has the financial strength to internalise its eyewear business, as Kering did a few years ago.”

    LVMH has been managing the eyewear collections for its leading brand, Louis Vuitton, internally for several years.

    Mediobanca estimates the sales for Celine and Dior eyeglasses collections are worth respectively €40 million (US$41 million) and €200 million. As well as these, there are the sales for the eyewear lines of Fendi, Givenchy and Marc Jacobs, all licensed to Safilo. Altogether, LVMH brands are worth €350 million in annual revenue for the eyewear group, equivalent to nearly 30 per cent of its total revenue, which Mediobanca pegs at €1.2 billion.

    The bank report also highlighted the Safilo portfolio’s “marked reliance on one single client”, plus the weakness of its own brands.

  • Ralph Lauren Hong Kong closes flagship

    Ralph Lauren Hong Kong closes flagship

    Following other international fashion labels, Ralph Lauren Hong Kong has closed its flagship store.

    Four years ago, its then CEO Ralph Lauren said the company was transforming its presence in China, “a region we believe will become an important driver of growth for us over the long term”.

    He was announcing plans to open 60 stores in greater China by 2015. A year after the announcement, the label launched its first men’s flagship store in Asia, in the Landmark Prince’s in Hong Kong’s Central district, and in October 2014 opened a “mansion” store at the Lee Gardens complex, offering accessories, watches and jewellery as well as men’s and women’s fashions.

    Now its 20,000 sqft (1858 sqm) store in Causeway Bay has been closed overnight, with a representative of the brand saying the closure was “part of our strategic and financial plan”.

    “We are redeploying assets to focus on new concept stores and transition away from unprofitable formats and locations,” the spokeswoman says.

    Ralph Lauren will combine its men’s and women’s flagships in the newly renovated Prince’s Building location, she says.

    The move is part of a new strategy from Stefan Larsson, who replaced Lauren as CEO a year ago (Lauren is still executive chairman and chief creative officer). Larsson previously worked for Swedish fast-fashion retailer H&M for 15 years.

    The restructuring will cut more than 50 stores and 1000 jobs worldwide, saving the company between US$180 million and US$220 million a year, reports The South China Morning Post.

    Meanwhile, American fast-fashion label Forever 21 has announced it will close its multi-storey Causeway Bay flagship store. British label Paul Smith has already closed its Times Square store, and Italian luxury clothing and accessories label Tonino Lamborghini has also closed more than 10 stores and in-store counters.

    Abercrombie & Fitch is set to leave its prime location in the Pedder Building in Central, which will leave it without a stand-alone store in Hong Kong. This follows it closing about 50 stores in the US this year. But the US company plans to open a flagship store in Beijing.

  • Oysho lingerie arrives in Indonesia

    Oysho lingerie arrives in Indonesia

    Spanish lingerie brand Oysho, owned by Inditex, continues its international expansion with the opening of its first store in Indonesia.

    In Jakarta’s centre, the 300 sqm shop is in Plaza Indonesia, a shopping centre that is also home to other Inditex brands such as Zara, as well as luxury labels including Burberry, Chanel, Hermes and Louis Vuitton.

    oysho-store

    Since launching in 2001, Oysho has expanded its presence to 44 countries with more than 600 stores. The brand specialises in lingerie, sleepwear, loungewear and footwear. It generated 229 million euros (about US$252 million) in the first quarter of this year, representing an 8 per cent increase year-on-year.

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  • Yaok offers online service for luxury boutiques

    Yaok offers online service for luxury boutiques

    Chinese company Yaok has built an online reservation service for offline brand boutiques to tackle the online/offline conflict.

    It is the result of 10 years of market research the preparation, including five years of in-depth communication with more than 100 luxury brands.

    Founder/CEO Steven Yao says that many luxury brands, including Chanel and Dior, have realised the importance of the internet, but while finding online partners still have concerns about brand image.

    “Everyone is looking for an online solution, especially one that’s appealing to Chinese consumers,” he says. “Unfortunately, current Chinese online players can’t fulfill luxury-brand needs because of false brand perception, unfit target audience, and lack of control on product authenticity.

    “Some chose to set up their own eCommerce platforms, but found it difficult to attract traffic with one single brand.”

    Through Yaok, a brand can have its own official reservation platform, giving it absolute control in managing its image, product inventory, order status and customer database. It also allows instant communication between brand and customer.

    According to the China’s Fortune Character Institute, 73 per cent of Chinese consumers have a shopping list before overseas travel, 45 per cent of which cannot be fulfilled because of such factors as lack of desired size or model, resulting in loss of sales and unsatisfying customer experiences.

    Agreements in place

    Yaok lets customers reserve products in advance and have VIP services in store. Already the company has global or regional collaboration agreements with most international luxury brands.

    Yao says that when the platform officially launches at the end of next month, products from 80 per cent of luxury brands will be available. Users will be able to make VIP reservations in nine countries and regions.

    He estimates that 500,000 shoppers, all with a net wealth exceeding $2 million, will use Yaok to buy luxury goods globally. Its prestige service is either by invitation only or for current brand VIPs. Applications can be submitted via Yaok app or WeChat, but acceptance is not guaranteed.

    Yaok has completed two rounds of fundraising, with Feng Ye as angel investor.

    Yao was the first CEO for the Hurun Report, the magazine known for its “China Rich List”. Other core Yaok members have also worked in brand houses like Giorgio Armani or Louis Vuitton for more than 10 years.

    Yaok is affiliated to the Fortune Character group, founded in 2008, which specialises in researching the luxury market.

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  • Louis Vuitton buys Rimowa luggage

    Louis Vuitton buys Rimowa luggage

    French luxury group Louis Vuitton has bought a controlling 80 per cent stake in the Rimowa luggage business.

    Dieter Morszeck, grandson of the founder of Rimowa, believes partnering with the LVMH Group will preserve “the spirit of excellence and the long-term vision that have inspired his family and the company’s employees for over a century”.

    Morszeck will sell a majority stake to the LVMH Group while continuing to hold equity in the business and maintaining his leadership functions, resulting in Rimowa becoming the first German Maison of the LVMH Group.

    Upon completion of the transaction, Alexandre Arnault will be appointed co-CEO of Rimowa.

    Founded in Cologne in 1898, luggage and leather goods maker Rimowa has become renowned for innovative, quality luggage over the course of the 20th century.

    Since its creation by Paul Morszeck, innovation has been at the heart of Rimowa’s strategy. In 1937, his son Richard launched the first aluminium suitcase available on the market. The aluminium structure comprising parallel grooves makes the luggage instantly recognisable and has played its part in building the reputation of Rimowa among a sophisticated international clientele. His son Dieter designed the first waterproof metal case in 1976, since which time Rimowa suitcases have become the travelling companion of choice for the greatest filmmakers, photographers and journalists.

    Dieter Morszeck said: “My grandfather founded Rimowa more than a century ago and I joined the company 44 years ago. By entrusting this family venture to the LVMH Group, we are guaranteeing a promising future to all Rimowa employees. Over the past two years I have had the opportunity to establish close ties with the Arnault family, and in particular with Alexandre. Alexandre and I have discussed at length the attractive development prospects available to us and the common values that we share. I am delighted that he is joining Rimowa and I have full confidence in his ability to accelerate the development of the business by my side.”

    Arnault added: “Rimowa is a superb business which I have followed as a loyal customer for many years. It has revolutionised the luggage industry for over a century, its suitcases are renowned for their unique performance, quality and design. I am honored to join Rimowa and to be working alongside Dieter.”

    Morszeck has created the Rimowa Dieter Morszeck Foundation to which a substantial part of the sale proceeds will be donated. The foundation aims to support projects in scientific research, public health, education and humanitarian aid both in Germany and internationally.

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