Vogue Business

In an imaginative move, Cartier opted for the historical city of Vienna, renowned for its art, music and cultural heritage, to unveil the Maison’s new high jewellery collection. Some 400 clients are flying into Vienna over the next two weeks to see (and buy) the ‘Nature Sauvage’ high #jewellery collection, which is being displayed at Kursalon Hübner. The collection on display features 87 pieces including the sculptural necklace Panthère des Glaces, with rock crystal and plenty of diamonds; the Panthère Jaillissante bracelet ring, with a sugarloaf emerald from Zambia; and the Koaga necklace, with pear-shaped rubellite. #SofiaCoppola and #ElleFanning were among the guests at a prestige show staged by Cartier at the MAK (Vienna’s Museum of Applied Arts) on Tuesday. They sat on the front row, where models wore high jewellery pieces and outfits by designer Jonathan Ailwood. What's next? Here, President and CEO Cyrille Vigneron discusses the attractions of Vienna and updates on the brand’s plans: https://lnkd.in/eTKgsZVx

Yesterday Capri Holdings Limited reported full-year revenues were down on soft #luxury demand, CEO John D Idol says the company is “disappointed” with the results, as the Tapestry merger hangs in the balance. Full-year revenues were down 8.4% year-on-year to $5.17 billion from $5.6 billion in 2023. By brand, Michael Kors revenues were $3.5 billion versus $3.88 billion for 2023; Versace hit $1 billion versus approximately $1.1 billion; and Jimmy Choo revenues were $618 million versus $633 million. What's next? Find out: https://lnkd.in/eGBPVaqU

A new documentary from the BBC World Service, Perfume’s Dark Secret, has uncovered rampant child labour abuses in Egyptian jasmine farms that supply global #perfume manufacturers for leading brands and groups, including Estée Lauder and L’Oréal. The documentary explores how ineffective auditing systems are failing child labour victims, of which there are an estimated 160 million globally and found children as young as five picking jasmine from 3 am in an Egyptian village responsible for producing 75 per cent of the country’s jasmine. What's next?

For many luxury fashion and jewellery brands, #CannesFilmFestival has become one of the most important events on the calendar. Influencer marketing platform Lefty analysed more than 3,000 #influencers on Instagram, each with over 10,000 followers, and worked out the equivalent ad spend of the impressions gained from their posts about Cannes (referred to as ‘earned media value’ or EMV). Overall, the 2024 edition of the festival generated $86.3 million in EMV on Instagram. But from #BellaHadid’s nearly naked dress to #SelenaGomez’s Saint Laurent gown what cut through on social media? Find out: https://lnkd.in/g33uT99Y

Veronica Leoni is the new creative director at Calvin Klein Collection, the PVH Corp.-owned brand announced this morning, a move that will see the brand return to the #runway. Leoni has quite the resumé. An Italian based in Rome, she is a veteran of Jil Sander, Phoebe Philo’s Céline, Moncler, and The Row. She founded her own label Quira three years ago, and was an #LVMH Prize finalist in 2023. “We are proud to name Veronica as Creative Director of Collection, the pinnacle expression of the Calvin Klein brand,” said Global Brand President Eva Serrano. Here's everything to know: https://lnkd.in/gj-Tu9sQ

Last year, #VogueBusiness surveyed 667 industry professionals about their experience of working in fashion. While financial troubles and burnout were among the main challenges cited by respondents in general, we found that #freelancers (who made up 30% of respondents) felt particularly weighed down by inconsistent pay, precarious contracts and struggling to switch off from work. Earlier this year, the first industry-wide union to protect fashion’s freelance creatives was formed in the UK. If rates continue to drop and work standards continue to decline, talents won’t just switch from in-house roles to freelance roles, they may leave the fashion industry altogether. A handful of startups are trying to bridge the gap between brands and talent to tackle these issues for #fashionfreelancers.

While #graphictees have never truly gone away since their ’70s inception, TikTok is serving up a refresh. Ironic, tongue-in-cheek (and somewhat provocative) phrases are moseying their way onto user-generated tees, with 220,200 creators sharing their designs. Here, #VogueBusiness brings you weekly exclusive data from TikTok, unpacking the latest creators and biggest trends sweeping its Gen Z user base: https://lnkd.in/djYy-yaD

Another #fashion documentary? It’s the gift that keeps on giving. Next week, French brand AMI PARIS will host the screening of Alexandre Mattiussi, Ami, Naissance d’une Collection (birth of a collection). “That’s what fashion is all about,” says director Dominique Miceli. “Having fun — and he has fun every day. What I really wanted to bring out was his way of joking, talking a bit of nonsense at a certain moment, dancing and singing.” The 52-minute #documentary, which traces the backstage goings-on of the Ami Autumn/Winter 2024 collection, will be screened on the French TV channel Paris Première on 16 June, with plans for international distribution. Here's everything to know.

CHANEL’s growth places it among top performers including Hermès (whose sales grew 21% in 2023) and LVMH (up 13%). Richemont’s sales rose 8% at constant exchange rates for its fiscal year ended 31 March 2024; while Kering’s revenue decreased by 2% in 2023. “It’s a testament to the desire for #Chanel creation and the sustained investment we have made in our clients in creating the ultimate #luxury experience for our clients and in supporting our people to grow and develop,” said Chanel’s global CEO Leena Nair told #VogueBusiness. Find out more: https://lnkd.in/eYfSPQqy

For brands, the often uncomfortable process of innovation — essentially bucking the status quo by doing something new — can be driven by both internal and external forces. In the case of the EU’s upcoming rule that all #fashion goods need digital product passports, brands don't have a choice. But they do have the choice to do even more. A new study, out today, reveals that #luxury consumers are open to more bells and whistles from their digital product passports, especially for accessories (handbags, watches and jewellery). Join Maghan McDowell and Madeleine Schulz today to discuss what luxury can offer.