Tag: Rimowa

  • Beatrice Monguidi Steps Up as New CEO of LVMH’s Rimowa: A New Chapter for the Luxury Luggage Brand

    Beatrice Monguidi Steps Up as New CEO of LVMH’s Rimowa: A New Chapter for the Luxury Luggage Brand

    Beatrice Monguidi has been named the new CEO of Rimowa, the renowned suitcase brand, by LVMH. She will officially assume her duties starting June 1. Monguidi will directly report to Pietro Beccari, who holds the dual roles of Chairman and CEO of both the LVMH Fashion Group and luxury fashion house Louis Vuitton.

    Experience and Expertise

    Monguidi’s appointment is indicative of LVMH’s strategy to leverage internal talent, recognising her vast experience across several of the group’s premier brands. Her professional journey includes stints at Fendi and Christian Dior Couture, both high-profile LVMH companies.

    In her most recent role, Monguidi excelled as the Zone President for EMEA (Europe, Middle East, and Africa) at Louis Vuitton. She was responsible for supervising one of the brand’s most intricate regions. Her efforts to cultivate a culture centred around people while maintaining robust commercial performance and operational discipline across varied markets did not go unnoticed.

    Beccari lauded Monguidi’s leadership skills, stating, “Monguidi has demonstrated a remarkable ability to unite and guide teams towards common goals within the multifaceted and complex EMEA ecosystem. Her commitment to the collective and to nurturing talent makes her the perfect fit to steer Rimowa’s vision into the future.”

    LVMH’s Current Financial Standing

    Monguidi’s appointment coincides with the release of LVMH’s first-quarter revenue report. The figures reflect a revenue of €19.1 billion (US$22.4 billion), marking a 6% decline. This drop is attributed to ongoing geopolitical tensions impacting trade. However, the brand’s strong performance in key markets, notably the US and Asia, helped mitigate the disruption caused by larger economic instability and conflict in the Middle East.

    Questions & Answers

    Who has been appointed as the new CEO of Rimowa?
    Beatrice Monguidi has been appointed as the new CEO of Rimowa.

    Who will Beatrice Monguidi report to in her new role?
    She will report to Pietro Beccari, the Chairman and CEO of the LVMH Fashion Group and Louis Vuitton.

    What is LVMH’s latest reported revenue?
    LVMH’s latest reported revenue for the first quarter is €19.1 billion or US$22.4 billion.

  • Rimowa Opens First Street-front Store In Japan’s Chubu Region: A Blend Of Luxury And Tradition

    Rimowa Opens First Street-front Store In Japan’s Chubu Region: A Blend Of Luxury And Tradition

    Rimowa, a luxury travel accessories brand, has recently opened its inaugural street-front store in Sakae, Nagoya, situated in the heart of Japan’s Chubu region. The brand, which is part of the LVMH portfolio, is renowned for its premium range of suitcases, bags, and accessories.

    Store Design and Location

    The newly unveiled store, nestled amidst other high-end brands on Otsu-dori Street, merges traditional Japanese architecture with Rimowa’s own unique design aesthetic. Covering an impressive 190 square meters over two floors, the store’s design emphasizes the concept of lightness, achieved by the natural light streaming through its glass walls.

    The ground floor of the store showcases a striking blend of two types of synthetic marbles, creating a stark contrast with the store’s luminous interior ambiance.

    Customer Service and In-store Features

    On the second floor, customers will find two dedicated repair counters offering hot stamping and click repair services. The store also features a secluded customer service area, designed to promote a calm and relaxed shopping environment. True to Rimowa’s commitment to design and quality, this area boasts furniture crafted by Marcel Breuer, a renowned figure in furniture design who received his education at Germany’s prestigious Bauhaus.

    Questions & Answers

    Where is the new Rimowa store located?
    The new Rimowa store is located in Sakae, Nagoya, in Japan’s Chubu region.

    What is the design theme of the new Rimowa store?
    The design theme of the new Rimowa store emphasizes lightness, with natural light filtering in from its glass walls.

    What services does the new Rimowa store offer?
    The new Rimowa store offers dedicated repair counters for hot stamping and click repairs. It also features a partitioned customer service area for a relaxed shopping experience.

  • Rimowa opens Hong Kong flagship

    Rimowa opens Hong Kong flagship

    Premium luggage brand Rimowa has opened its first flagship store in Hong Kong, located at Lee Gardens. Occupying 192sqm, the store offers a selection of premium luggage, including the Original, Classic, Essential, and Hybrid collections

    The store’s facade features floor-to-ceiling glass windows and strong vertical lines incorporating lighting that “pays homage to the brand’s renowned groove design while also evoking the densely packed, iconic skyline of Hong Kong,” the company said.

    The Rimowa Lee Gardens store interior follows the minimalist design, using modern elements such as a bold pink ceiling, grey walls and floor, metallic displays, and contemporary track lighting.

    The store features a ‘sticker wall’ made from mirrored vertical metal panels. The design resembles a traditional Chinese painting known for its hanging scrolls. The sticker collection celebrates cities from across the globe and designs created in collaboration with the brand’s worldwide network of artists.

    Rimowa Lee Gardens also houses a Client Care counter where customers can schedule product servicing, and receive and inspect repaired luggage.

  • Rimowa Elements Hong Kong store relocates

    Rimowa Elements Hong Kong store relocates

    Premium luggage label Rimowa has relocated and reopened its Hong Kong Rimowa Elements store.

    The new 1510sqft Rimowa Elements store features the brand’s latest store design concept and incorporates site-specific details, such as the wood and recycled rubber flooring that allows customers to roll-test their suitcases on a variety of surfaces before purchase.

    In addition to showcasing the brand’s latest luggage collections, the Rimowa Elements store features an in-store client-care center that can process most repairs – such as wheel exchange and handle & lock repair.

    As part of this fresh design, Rimowa Elements is introducing a hot stamping service, inviting customers to personalize their Rimowa leather travel accessories.

    Located in West Kowloon, Elements is one of the top tier shopping malls in Hong Kong, covering more than 1 million sqft of shopping, dining, art, and entertainment.

  • Yuja Wang shows up in new Rimowa brand campaign

    Yuja Wang shows up in new Rimowa brand campaign

    Rimowa is unveiling a film on renowned pianist Yuja Wang as part of its ‘Never Still’ global integrated campaign.

    Following the launch of last year’s first international integrated brand campaign that marked its 120th anniversary, LVMH-owned Rimowa is continuing its conversation on purposeful travel with three films featuring intimate portraits of well-known friends of the brand. The select cast conveys the belief that mastery is a never-ending journey, and that no one builds a legacy by standing still.

    While the campaign echoes the ethos set forth by Rimowa’s first global brand campaign, this second look focuses on “the hardships of the road, both real and metaphorical, and the resilience and drive required to endure and thrive”.

    Basketball legend LeBron James, artistic director Dior Men’s and fashion designer Kim Jones, and Beijing-born concert pianist Yuja Wang all share an intimate view into their lives on the go, telling how constant challenge drives them toward success. The series is shot across four countries by three different directors who worked closely with each individual icon to put together an emotionally insightful, personal and visually distinct expression of their particular journey.

    The global integrated brand campaign will be featured across paid and owned social and digital channels, Air France, British Airways, and Cathay Pacific in-flight entertainment, select cinemas in the US and Europe, airports in New York, Los Angeles, London, Paris, Nice, Shanghai and Hong Kong, and OOH in key cities like New York, Los Angeles, Paris, London, Hong Kong, Seoul and Tokyo. The campaign will also feature retail activations and exclusive limited-edition stickers.

    Created in partnership between Anomaly in Berlin and Rimowa’s internal creative team, the campaign will be activated globally with special emphasis on the brand’s seven key markets – USA, China, HK, Japan, Germany, UK, and France.

  • Rimowa unveils an Alex Israel pop-up at Lane Crawford

    Rimowa unveils an Alex Israel pop-up at Lane Crawford

    Premium luggage retailer Rimowa will showcase its newest special edition collection – created in tandem with LA-based contemporary artist Alex Israel – at a temporary pop-up store at Lane Crawford in Hong Kong.

    The Rimowa x Alex Israel pop up will be open until tomorrow, marking Rimowa’s first-ever collection of colour-graded suitcases produced with an anodisation process that characterises the signature look of the collection.

    Inspired by the designs, the pop-up features vibrant colours, a photo-op mirror room, sticker walls, and a colourful handmade ice pop bar designed to exude a “quintessentially Los Angeles vibe”.

    For the Rimowa x Alex Israel collaboration, Israel has reimagined the suitcases in colours based on the LA sunset, drawing directly from the palettes of his “Sky Backdrop” and “Untitled (Flat)” paintings, while using new printing techniques to transfer his signature hues onto aluminum.

    Based on the brand’s Rimowa Original Cabin Plus, the collection features two versions of the signature Rimowa x Alex Israel luggage in two distinct colour gradient palettes. The designs feature vibrant, colour-matching wheels and details, custom luggage lining, and a set of luggage tags featuring the artist’s multi-coloured profile. It also includes a special edition luggage sticker set featuring graphic illustrations of iconic LA landmarks and Israel’s artworks.

  • Rimowa opens store in Singapore, Raffles

    Rimowa opens store in Singapore, Raffles

    LVMH’s luggage brand Rimowa Singapore has opened a new store at the newly refurbished Raffles Hotel.

    The 600sqft store features a greenery space with the floral walls which provides an immersive conceptual experience to visitors and shoppers alike.

    Customers can find the latest Rimowa luggage collections there, including the Rimowa Original, Rimowa Classic, Rimowa Essential, Rimowa Essential Lite, Rimowa Essential Sleeve, and Rimowa Hybrid.

    The store also includes a sticker wall featuring classic, new and exclusive luggage stickers from the Rimowa Sticker Collection.

  • Rimowa collaborates with Alex Israel for its latest suitcase

    Rimowa collaborates with Alex Israel for its latest suitcase

    Alexandre Arnault of Rimowa has just taken to Instagram to tease the luggage purveyor’s latest collaborative suitcase. Set for a full reveal at this year’s Frieze Art Fair, the suitcases are in collaboration with multimedia artist Alex Israel. Inspired by his home town of Los Angeles, the luggage sees the signature use of blue and red hues — inspired by the adored sunsets of the West Coast.

    The suitcases’ exterior shell and wheels are essentially treated with tones of blue, light purple, pink and light orange in a faded finish to reflect the colors of the vibrant sky in Los Angeles during sunset and sunrise.

    The suitcases will come in two color options. One will predominantly be in a gradient sky-blue – fading to flamingo-pink, while the other color option sees the complete opposite.

    Both suitcases will be officially unveiled at the Frieze Art Fair in Los Angeles via a pop-up beginning February 14.

  • Record results for LVMH in 2018

    Record results for LVMH in 2018

    The world’s largest luxury retailer LVMH shrugged off broader market pessimism overnight reporting record revenue of €46.8 billion last year, up 10 per cent over 2017. Excluding the closure of the unprofitable Hong Kong airport duty-free business in December 2017, the group’s organic growth was 12 per cent. Every business division delivered what the company described as “excellent performances”.

    Group profit rose a staggering 21 per cent to €10 billion with operating margin reaching 21.4 per cent, an increase of 1.9 percentage points.

    “LVMH had another record year, both in terms of revenue and results,” said chairman and CEO Bernard Arnault. “The desirability of our brands, the creativity and quality of our products, the unique experience offered to our customers, and the talent and the commitment of our teams are the group’s strengths and have once again made the difference.”

    Arnault said this year the company would continue to innovate and target investments combining tradition and modernity.

    “In an environment that remains uncertain, we can count on the appeal of our brands and the agility of our teams to strengthen, once again, our leadership in the universe of high-quality products.”

    The company’s flagship Louis Vuitton business was a standout for the group, contributing much of the 15 per cent organic sales growth of the fashion and leather goods business division where profit from recurring operations was up 21 per cent.

    “Christian Dior had an excellent first full year within LVMH thanks to the creativity of Maria Grazia Chiuri for the women’s collections and to the arrival of Kim Jones, the new artistic director of Dior Homme,” the company said in its earnings statement.

    “Fendi and Loro Piana continued to assert their know-how throughout their collections. Celine entered a new and ambitious stage of its development with the arrival of Hedi Slimane as artistic, creative and image director of the brand.”

    Givenchy, Loewe and Kenzo “progressed well” while the other brands, Berluti and Rimowa continued to gain momentum.

    Watches and jewellery profit soars

    LVMH’s watches and jewellery business recorded organic revenue growth of 12 per cent – and a stunning 37 per cent increase in profit from recurring operations.

    “Bulgari performed very well and gained market share. Its iconic jewellery and watchmaking lines Serpenti, Diva’s Dream, B.Zero1, Lvcea and Octo grew strongly.”

    Chaumet’s growth was driven by the success of the Liens and Joséphine collections, particularly in Asia.

    In the watchmaking sector, Tag Heuer continued to expand its range and Hublot enjoyed strong growth, partly due to high visibility as the FIFA World Cup official timekeeper.

    DFS returns to profit

    A return to profitability for the travel-retail business DFS after it exited its Hong Kong airport concessions at the end of 2017 was a highlight of LVMH’s ‘selective retailing’ business unit last year. The business group achieved a 12 per cent improvement in organic revenue growth (excluding the airport business from the 2017 base comparison) and a 29 per cent improvement in profit.

    “DFS progressed strongly thanks to a particularly good performance in Hong Kong and Macau. The recently opened Gallerias in Cambodia and Italy also grew rapidly,” said LVMH.

    Sephora enjoyed unspecified growth in sales and market share, with strong online sales growth in Asia and North America. About 100 new stores opened worldwide, including the new Nanjing Road store in Shanghai and the first Sephora-branded stores in Russia.

    Scents of success

    The perfumes and cosmetics business division achieved organic revenue growth of 14 per cent, driven by the performance of its flagship brands, with profit from recurring operations up 13 per cent.

    “Parfums Christian Dior experienced remarkable growth and increased its market share in all regions of the world. The launch of its new perfume Joy and the exceptional worldwide success of Sauvage and the other iconic perfumes J’adore and Miss Dior are behind the strong growth of the Maison,” said LVMH.

    “Makeup and skincare also grew rapidly. Guerlain progressed well, driven in particular by the success of Abeille Royale in skincare and Rouge G in makeup. Benefit strengthened its leading position in the eyebrow segment and Parfums Givenchy accelerated its performance, thanks in particular to makeup and its new perfume L’interdit. Fresh and Fenty Beauty by Rihanna continued their exceptional growth.”

    Strong spirits

    The wines and spirits business group achieved organic revenue growth of 5 per cent and profit from recurring operations also increased by 5 per cent.

    “The business group reaffirmed its leadership position by pursuing its value strategy and balanced geographic development.”

    The Hennessy business enjoyed “strong momentum” in Mainland China, LVMH said.

  • Rimowa opens in Tokyo first stand-alone store in Japan

    Rimowa opens in Tokyo first stand-alone store in Japan

    Rimowa Japan has opened its first standalone store in Tokyo. The luxury luggage brand’s new 900sqm outlet in Ginza features a minimalist decor focused on a spiral staircase backed by a backdrop of basketweave, recalling a traditional Japanese craft design aesthetic. Rimowa Japan says the store is equipped to perform simple repairs, with staff speaking both English and Chinese, to cater for the tourist market.

    A heritage brand founded in Cologne, Germany, more than a century ago, the brand is primarily known for its aluminium and polycarbonate suitcase lines. LVMH owns a controlling 80 per cent stake in the brand.

    Browse the gallery below :

  • Rimowa’s Off-White collaboration

    Rimowa’s Off-White collaboration

    When Alexandre Arnault became co-chief executive of Rimowa in October 2016, following its sale to LVMH for €640 million, the 26-year-old son of LVMH chairman Bernard Arnault set about pushing the German luggage label, best known for its ribbed aluminium suitcases, into new territories.

    First came a collaboration with the Roman fur and leather house Fendi, followed by a partnership with Los Angeles-based Anti Social Social Club. But it was the company’s tie-up with billion-dollar streetwear juggernaut Supreme that really made a splash.

    Now, Arnault is about to drop what could be one of Rimowa’s biggest product collaborations to date: a pair of transparent polycarbonate suitcases created in partnership with Virgil Abloh’s haute streetwear sensation Off-White.

    Below is the gallery of the suitcases (3 images) :

    “At LVMH, we have a saying that we like to be between tradition and modernity. Rimowa is a 120-year-old brand and what we’re doing with Virgil is a great example of modernity,” explained Arnault, who first teased the collaboration on his personal Instagram account in September 2017 and will officially debut the resulting product on June 20 at Off-White’s Paris menswear show.

    The move comes as more and more luxury brands are tapping the cultural energy and business model of streetwear to stay relevant with millennial customers, who drove 85 percent of luxury growth last year and increasingly demand newness and novelty.

    “Maybe there’s a bit of fatigue from customers of traditional brands and they’re excited by fresh products done in a different way and this is something that’s really well embraced by streetwear,” said Arnault. “One collaboration in itself won’t be a key sales driver, but ultimately the social media value of them is extremely important for driving awareness and desirability.”

    Rimowa will follow the Off-White initiative with a partnership with Parisian streetwear label NasaSeasons. But Arnault says he isn’t planning to continue product collaborations at this pace. “You’ll see us come with collaborations for sure but not all in the same space or at the same scale every two months. I’m very cautious of one collaboration too many.”

    Abloh said suitcase he created for Rimowa is transparent in order to let consumers participate in the design process, much as he has with some of his recent sneaker designs for Nike.

    “It’s like 3.0 of personalisation. It’s not just putting your initials on it but allowing another layer to come in play,” he explained. “There’s an emotional component to owning [the suitcase] and you become a performance art piece just by using the thing. It’s like putting your items on display and rethinking the premise of a product.”

    Abloh was recently named men’s artistic director of Louis Vuitton as part of a series of changes on the men’s side of LVMH, including the appointment of Kim Jones at Dior Homme and the appointment of Kris Van Assche at Berluti. Both Jones and Van Assche are known for their modern, streetwear-savvy sensibilities.

    But although the worlds of streetwear and luxury are undoubtedly merging as part of a wider generational shift, Arnault is quick to note that quality will remain a long-term marker of authentic luxury goods. “The thing that changed is the way luxury goods are perceived, marketed and distributed,” he explained. “But people are willing to pay a premium if we know a product comes from a trusted brand with quality craftsmanship — that won’t change.”

    “Heritage, quality, craftsmanship and authenticity from the preceding generation of luxury, that’s valuable. Those things won’t waver,” agreed Abloh, “But being a part of the new era is the halo effect, the cultural attachment and relevance. Married in the right way you have the future of how a brand can be one-part luxury from the preceding generation and coveted by the next generation. That’s the unique fit going forward.”

    Abloh’s ability to bring his streetwear-infused aesthetic to a major European luxury house will be put to the test later this month when he shows his debut collection for Louis Vuitton.

    “What you’ll see with what Kim and Virgil are doing at Dior Homme and Louis Vuitton isn’t the most streetwear-inspired collection — you’re not walking into a skate shop,” hinted Arnault. “They also have to adapt to codes, quality criteria and brand DNA.”

  • Rimowa unveils new brand identity for its 120th anniversary

    Rimowa unveils new brand identity for its 120th anniversary

    A worker intently studies an aluminium suitcase on the assembly line at the Rimowa factory in Cologne. He opens and closes it repeatedly, lays it flat, pounds a hinge with his mallet, stands it on its wheels and starts over again. Until this bag is perfectly balanced, it will not leave the factory. Such labour-intensive quality has been in Rimowa’s DNA since Paul Morszeck founded it in Cologne in 1898.

    With its immediately recognisable aluminium cases and grooved design, Rimowa is a cult brand, the type that bonds owners in a kind of unspoken club.

    The German company turns 120 this year, but there will be no one special event, says Alexandre Arnault, the new 25-year-old CEO, who finds the idea of a party ‘outdated’. Rather, it will be a whole year of celebration, of taking a fresh look at the suitcase brand that pioneered aluminium and polycarbonate, and finding ‘a cool way to remind people who we are’.

    Tall, poised and impeccably dressed, fluent in French, English and German, Arnault is the third child of LVMH CEO Bernard Arnault and it was his idea that the luxury goods conglomerate acquire Rimowa. He had been using a matte black ‘Salsa’ model since age 17 or 18, when he moved to New York for an internship.

    ‘My family was not too happy when I travelled with it,’ he recalls. ‘But when they looked at it carefully, they understood the beauty of the product, the craft behind it.’ The family operation has high-profile luggage brands of its own, of course, but when Louis Vuitton started to modernize its suitcase line with lighter and four-wheeled models, Rimowa’s particular set of skills became clear.

    LVMH bought Rimowa in January 2017, after two years of negotiation, and Arnault was appointed CEO alongside Dieter Morszeck. He has been actively shepherding the brand ever since, with collaborations, new stores, a pop-up, and no sign of slowing down.

    ‘What I have learned from growing up in my family and seeing other CEOs is that you have to be involved in the product on every single level,’ he says.

    In June he hired Hector Muelas, formerly of Apple and DKNY, as Rimowa’s chief brand officer. Early this year they unveiled a new visual identity, a collaboration with Munich-based Bureau Borsche and London-based Commission Studio.

    The pill-shaped frame and rounded letters of the previous logo have been replaced with an understated design, with a refined sans serif font that ‘encapsulates the timeless and considered nature of the brand’, says Muelas. The colour blue has disappeared in favour of neutral shades – black, white and grey.

    The team also designed a new monogram inspired by Rimowa’s original from 1898. It features sharpened vertices like the spires of Cologne’s famous cathedral, intertwined with angular curves that mirror the industrial forms of contemporary Rimowa suitcases.

    Both the logo and monogram appear on a redesigned range of packaging. Once an afterthought, Rimowa’s packaging now aspires to be as pleasing as that of an iPhone.

    There are dust bags, shopping bags with straps held in place by rivets, and gift boxes for carry-ons. Demonstrating a price tag that slides out of a little folder, Muelas says, ‘With every single piece of design, we put a lot of consideration into how it would make people feel. When you buy Rimowa it’s a magic moment. It’s got to have a ritual.’

    Paper accessories such as an owner’s manual and notebooks are embossed with fine parallel lines to mirror the suitcases’ grooves. Geographic coordinates appear here and there, making oblique reference to meaningful locations for the company, such as the factory where each case was produced.

    The number of meaningful locations is increasing, as last year saw a slew of new store openings in cities such as Paris, Frankfurt and Tokyo. Arnault wants each one to give customers an experience, and he plans to hire in-country architects to design individual stores for different markets. Beyond suitcases, customers in larger cities will discover unique lifestyle products made by local talents especially for the brand. In Paris, for example, the new flagship is selling chocolate bars by Patrick Roger, available until mid-February.

    Arnault is also excited about the pop-up concept, having launched the company’s first in Beverly Hills last December, built to look like a luggage conveyor belt and selling products such as fresh juice and travel and design books, as well as aluminium pens by Kaweco and T-shirts by German brand Merz b Schwanen. ‘A pop-up in a new place for six months allows us to try a new store concept, a new design. If it works, great, we learn from it. If it doesn’t work, we also learn from it.’

    As for collaborations, Rimowa teamed up with Fendi for a limited-edition suitcase with a belt, leather handles and the double F logo melded onto the aluminium surface. Also launched last December, the cases came with a price tag of €1,700 and sold out within a week. While more such team-ups are on the horizon, Arnault is keeping the details to himself. What he does admit to is his dream collaboration, with Nasa. He plans to contact them soon.

    This goal reflects Arnault’s love of technology (he Is a graduate of Paris’ prestigious École Polytechnique). In 2016, Rimowa introduced electronic luggage tags, and the young CEO is considering what other digital innovations might add value for the customer. Nothing gimmicky, he insists. A suitcase with an integrated battery charger would be heavy and unnecessary, while one with its own scale seems practical.

    For the 80th anniversary of its signature aluminium suitcase last year, the house produced a fully digital campaign – portraits of Rimowa cases belonging to Karl Lagerfeld, Martha Stewart and the Italian chef Massimo Bottura, among others.

    Reached at his recent Gucci Garden restaurant opening in Florence, Bottura recalls, ‘I bought my first Rimowa after years of luggage envy, watching other travellers wheel their metal cases around with ease.

    In particular, I was fascinated by the Rimowa photography cases, these big aluminium boxes that protected fragile equipment. Finally, a wheel broke on a black plastic trolley I had and I bought a Rimowa silver bullet trolley at the airport to replace it. And that was the beginning of the obsession.’

    At a time when many brands talk about storytelling, suitcases are natural vehicles for it. ‘They’re travel companions,’ notes Muelas, witnesses to the experiences and memories that mark a journey. Indeed, when LVMH announced the acquisition, Arnault received notes from people around the world telling him their Rimowa stories.

    He says, ‘There’s an amount of love that exists out there for this product that I’ve rarely seen before, and I think it’s linked to this relationship of trust. Our suitcases are so robust that people trust us with their most personal belongings, their most valuable things.’

  • LVMH hits up record revenue in 2017

    LVMH hits up record revenue in 2017

    It has been another record year for luxury products group LVMH Moet Hennessy Louis Vuitton.

    Revenue increased by 13 per cent year on year to reach €42.6 billion (US$52.9 billion), while organic revenue growth was 12 per cent.

    All business groups recorded double-digit organic growth with the exception of wines and spirits, where second-half growth was hit by supply constraints.

    Profit from recurring operations reached €8.2 billion, up 18 per cent. Operating margin reached 19.5 per cent, while the group share of net profit was €5.1 billion, growth of 29 per cent.

    Describing the performance as “excellent”, LVMH chairman/CEO Bernard Arnault says the record year was partly because of a buoyant environment but above all a result of the creative strength of the group’s brands “and their ability to constantly reinvent themselves”.

    Key highlights of last year listed by the group include:

    ● Record revenue and profit from recurring operations.

    ● Growth in Asia, Europe and the US.

    ● The success of both iconic and new products at Louis Vuitton, “whose profitability remains at an exceptional level”.

    ● The acquisition of Christian Dior Couture.

    ● Growth at Fendi and Loro Piana.

    ● The first year of integration of Rimowa luggage.

    ● Strong momentum at Parfums Christian Dior, driven by product innovation.

    ● An excellent year for Bulgari and good progress at Hublot and Tag Heuer.

    ● Growth at Sephora.

    ● Free cashflow of €4.7 billion, up 20 per cent.

    “Significant” growth in China helped Hennessy cognac volumes grow by 8 per cent, with 7.5 million cases shipped despite the second-half supply constraints.

    In fashion and leather goods, key events of the year were products arising from collaborations with artist Jeff Koons as well as the Supreme brand, the launch of the brand’s first smartwatch and the inauguration of the Maison Louis Vuitton Vendome in Paris.

    There was rapid growth in Asia for the perfumes and cosmetics segment, and growth was particularly strong in Asia for Bulgari. Asia again shone in the selective retailing group with Sephora continuing to gain market share.

    LVMH says the year was a positive turning point for DFS, with new stores in Cambodia and Italy continuing to grow sales.

    Despite unfavourable currencies and geopolitical uncertainties, LVMH says it is well equipped to continue its growth momentum across all business groups this year.

  • DFS Announces New Partnership With Iconic Luggage Brand Rimowa

    DFS Announces New Partnership With Iconic Luggage Brand Rimowa

    DFS Group, the world’s leading travel retailer, is excited to announce its new partnership with prestigious luggage brand RIMOWA. Known for its sleek suitcases with their distinctive hard-shell grooved exteriors in traditional aluminum or high-tech polycarbonate, RIMOWA is recognized as the pioneer manufacturer of luxury luggage for the world traveler.

    “At DFS, we believe that travel and lifestyle go together and so we continue to introduce products that are designed to enhance the experience of our discerning traveling customers,” said Christophe Chaix, Senior Vice President Fashion, Watches, Jewelry and Accessories. “RIMOWA is synonymous with innovation, quality and durability, making it a perfect partner for our accessories portfolio.”

    To celebrate this new partnership, DFS and RIMOWA are rewarding shoppers with special benefits. LOYAL T customers purchasing RIMOWA products from T Galleria by DFS will earn extra bonus points, while in T Galleria by DFS, Hong Kong, Canton Road, customers will get the chance to have DFS’ onsite craftsmen personalize the leather tag that comes with each piece of RIMOWA luggage, as well as to enjoy door-to-door delivery service to the customer’s in market home or hotel at their request upon selected purchase.

    RIMOWA will operate in key DFS locations around the world, launching first December 2017 in Hong Kong at T Galleria by DFS, Canton Road and T Galleria by DFS, Tsim Sha Tsui East; and will also be available in Macau at T Galleria by DFS, Shoppes at Four Seasons; in Japan at T Galleria by DFS, Okinawa; and Venice, Italy, T Fondaco dei Tedeschi, in early 2018.

  • JD.com surprises with first profitable quarter

    JD.com surprises with first profitable quarter

    JD.com profit soared 50 per cent after a 39 per cent increase in sales during the Chinese online retailer’s latest quarter.

    Its unaudited results for the three months to the end of September show revenue of RMB83.7 billion (US$12.6 billion), with a record 50.3 per cent surge in gross profit to RMB13 billion. Non-GAAP gross profit was RMB12.8 billion, up 51.9 per cent.

    Active customer accounts increased by 34 per cent to 266.3 million in the 12 months to September 30.

    Chairman/CEO Richard Lio says the company is building robust product content and enhancing user engagement with innovative tools that enable brands to launch highly targeted online marketing programs.

    “The scale economies of our model are becoming clearer with every quarter,” says CFO Sidney Huang. “Looking ahead, we will continue to prioritise investments in technology and leading R&D talent as we execute on our vision to revolutionise China’s retail industry.”

    While releasing its third-quarter figures, JD.com also listed its latest business developments…

    In October, JD and Tencent expanded their partnership with the launch of a marketing initiative that integrates insights on consumer behaviour from Tencent’s social-media platforms with online and offline shopping data from JD and its brand partners. As well as enabling more precise target marketing, the move benefits consumers by offering them wider access to sales promotions and preferred discounts.

    Strategic partnerships

    During the past three months, JD.com also formed strategic partnerships with Baidu, iQIYI, NetEase, Sogou and Qihoo 360 with their big-data resources, massive user bases and AI algorithm technologies.

    JD also continued to strengthen its position among top-tier international brands, expanding its partnership with high-fashion brand Armani with the opening of official online stores for Armani Exchange and Emporio Armani.

    JD Worldwide also launched flagship stores for such companies as Reckitt Benckiser, Spectrum Brands and Tiger, while its new Toplife platform attracted marquee brands like Dyson, La Perla, Rimowa (LVMH) and Trussardi.

    During the quarter, JD Logistics test-launched an unmanned sorting centre, the first of its kind in the logistics industry. JD also signed agreements to lay the groundwork for the rollout of China’s largest drone network.

    In September, JD Logistics expanded its environmentally friendly logistics and packaging campaign, working with brands including  Johnson & Johnson, Kimberly-Clark, Lego, L’Oreal, P&G, Nestle, Unilever, Watsons and Wrigley. The aim is to minimise environmental impact by cutting back on packaging materials.

    Customer demand

    JD also enhanced its fresh product offerings during the quarter to meet customer demand. In July, it launched the Canadian Fresh Food Pavilion, the first country pavilion for fresh products on the JD.com platform. Live lobsters from Canada can now be delivered to customers’ doorsteps in China in as little as 48 hours. During JD’s Super Canadian Day, 140,000 lobsters were sold within 24 hours.

    In September, JD.com, JD Finance, Central Group and Provident Capital announced agreements to establish two JVs in Thailand covering e-commerce and fintech services, with an aggregate investment of $500 million. JD.com is providing its expertise in technology, e-commerce and logistics while Central Group is drawing on its retail store network, brand and merchant relationships, and retail behaviour insights from its loyalty program.

    In October, JD and Sam’s Club launched a promotion offering customers discounted bundled memberships for Sam’s Club and the JD Plus paid-for membership service.

    By the end of October, JD.com JV New Dada had partnered with 146 Walmart stores and 301 Yonghui stores, as well as many other supermarkets and grocery stores, to provide online fresh grocery shopping with one-hour home delivery.

    At the end of September, JD.com had 405 warehouses and provided scheduled delivery services in 250 Chinese cities. It had about 160,000 merchants on its online marketplace, and 137,975 full-time employees.