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This week, Moncler steps up U.S. presence with a new flagship store on New York’s Fifth Avenue, Glossier unveils new fragrances, and more.
RETAIL NEWS
Saks Fifth Avenue Introduces a Fine Art Collection
The luxury retailer has unveiled a fine art collection consisting of more than 100 limited-edition contemporary print works from notable artists. The collection, available at Saks.com and select Saks Fifth Avenue stores, features various printmaking techniques, as well as exclusive editions. Additional pieces by more artists will launch in the coming season.
LVMH Expands Industry Influence With Investment in Moncler
The agreement between LVMH and a holding company controlled by Remo Ruffini, Moncler’s chief executive, gives LVMH an indirect stake in Moncler.
Louis Vuitton Opens in Montreal’s Royalmount Luxury Destination
Louis Vuitton has opened a store in Montreal at the Royalmount, a new center that offers the city’s most extensive collection of luxury boutiques and is considered the largest private development in Quebec.
Béis is launching a resale program
Béis, the luggage brand founded by actress Shay Mitchell, is giving bags an upgrade with its new resale program called Second Béis. The program, which officially launches this week on Béis’s website, lets customers shop a selection of recently returned weekenders, rollers, backpacks, totes and duffles.
LVMH Sells Off-White Brand to Bluestar Alliance
LVMH has sold Off-White LLC, owner of the Off-White brand, to Bluestar Alliance LLC, the New York-based brand management company that operates labels such as Tahari, Bebe and Scotch & Soda, in a deal announced Monday.
Moncler Steps Up U.S. Presence With Fifth Avenue Store
Moncler signed a lease for a new flagship store on New York’s Fifth Avenue, securing a place on one of the world’s most expensive shopping streets days after luxury heavyweight LVMH made an investment in the company.
Central Group Acquires Swiss Luxury Chain Globus
Central Group took control of Swiss luxury department store chain Globus from Rene Benko’s insolvent Signa group, the latest transfer from the Austrian financier’s retail unit to the Thai conglomerate. The deal, announced on Monday, covers only the company operating the stores and doesn’t change the ownership of the respective buildings, which occupy prime locations in the commercial areas of Switzerland’s main cities.
The $1,000 ‘Micro’ Handbags Luxury Brands Are Pinning Their Hopes On
Luxury companies have a lot riding on the “super mini” purses and $1,200 wallets on a chain they launched in recent collections. What looks like a frivolous trend is part of a push to win back middle-income shoppers and fix wilting share prices.
Simon taps influencers to draw Gen Z to the mall
A new campaign celebrates mall culture and invites people to be part of the experience, according to Simon’s chief marketing officer.
What’s next for luxury e-commerce
In luxury e-commerce, brands are the new retailers. As luxury shoppers have become increasingly discerning, multi-brand e-tailers’ once-winning formula of curation and personalization is no longer up to snuff. Forced by the pandemic and retail partners’ price-based competition, high-end brands have become digital-savvy, offering consumers a comparatively more desirable offering that includes their full product assortment, an inspiring experience, unique omnichannel convenience and, for top spenders, an array of exclusive, covetable perks.
Can Department Stores Save Themselves?
BoF Senior Correspondent Sheena Butler-Young and Retail Editor Cathaleen Chen discuss the ongoing struggle of American department stores to remain relevant and what lessons they might learn from their European counterparts.
The Gap Comeback That’s Actually Working
Gap Inc. has been trying to turn things around for two decades. Now, seven months into designer and BoF 500 member Zac Posen’s tenure as creative lead, there’s early evidence that his efforts to re-energise the company’s flagship brand are delivering results.
Mulberry Rejects Bid From Frasers, Won’t Withdraw Fundraising Plan
Mulberry Group rejected Frasers Group’s 83 million pound ($111 million) takeover approach and said it would go ahead with a plan to shore up its finances. The British luxury brand said Tuesday that the offer doesn’t recognize the company’s potential. It also noted that its majority shareholder, Challice—which has a 56.1% share of Mulberry—supports its strategy and has no interest in the bid.
How much higher can luxury prices go?
Luxury brands are increasingly raising their prices to get more value out of their most valuable customers: the hyper-affluent, high-frequency buyers whose wealth insulates them from the vicissitudes of the economy. These customers tend to continue buying from luxury brands regardless of how high the prices get.
BEAUTY NEWS
Beauty’s Most Viral Brands Are Moving Offline
Trending beauty companies are looking to old-school forms of advertising like billboards, taxi wraps and wild posting to boost their brand awareness. Crafting a great out of home campaign means using a different playbook to what they might be used to.
Glossier Unveils Two New Fragrances
The beauty brand remixed its best-selling scent, Glossier You — and indicates more to come in the fragrance category.
As Ozempic gains popularity, a skin-care category catering to GLP-1 users is inevitable
How will Ozempic’s popularity impact the skin-care market? Experts say it could be huge, with an entirely new category of patients — currently tracking at around 15 million Americans — potentially looking for better support from their face and body personal care products to alleviate side effects of GLP-1 drugs. Glossy spoke to doctors and experts about these side effects, often called “Ozempic face,” and how in-office and OTC offerings can support users on their weight loss journey.
Euroitalia Acquires Moschino Beauty Brand From Aeffe
Euroitalia, the longtime Moschino licensee, paid $109 million to acquire the brand’s beauty rights.
The 10 Beauty Brands That Ruled Among Gen Z This Summer
Beauty as a whole is a winner, with data from Gen Z research and strategy firm Dcdx showing the category outpaces travel, restaurants, consumer packaged goods and even fashion when it comes to engagement and consistency of user-generated content. More specifically, brands including Sephora, Charlotte Tilbury, Dior Beauty and E.l.f. Cosmetics are seeing success, earning top spots in Dcdx’s ranking of the top beauty brands by organic UGC engagement and consistency among Gen Z social media users this summer.
Beauty brand Patrick Ta and Mattel’s Barbie came together for a new set of makeup essentials designed with the Barbiecore aesthetic front and center. The brand and iconic Mattel doll introduce the She’s a Barbie Doll Blush Duo and Malibu DreamHouse Plumping Gloss in bright fuchsia.
The Estée Lauder Cos. Announces Changes of the Guard at Its North American Division
The senior leadership shuffle continues at the Estée Lauder Cos. After it was revealed that both chief executive officer Fabrizio Freda and chief financial officer Tracey T. Travis plan to retire, another long-term leader at the company is following them. Mark Loomis, group president, North America, will retire at the end of fiscal year 2025 after close to three decades at the beauty company, the company said Monday. He will be succeeded by Tara Simon, who will assume the role of president, North America, and Amber English, who will step into the position of president, digital and online, North America.
The factors driving luxury skin-care pricing in 2024
According to Circana market research company, the U.S. prestige beauty market grew by 8% to $15.3 billion in the first half of the year, with skin care ranked as the fastest-growing category based on units sold. What’s more, where prestige skin care grew by more than 7% from January to June, mass skin care grew by less than 2% year-over-year.
Stay golden: The new era of luxury tanning
With increased awareness of the sun’s damage to our skin, both medically and aesthetically, today’s influencers speak instead of slathering themselves in their favorite SPF when they go on holiday, and sticking to strict skin care regimes. And yet, many famous faces are still bronzed and glowing. “People don’t just want to use self-tan [products]. They want to use skin care with [tanning] benefits,” said Sebti. “The thing that is associated with status is, I would say, great skin.”
COMINGS & GOINGS
- Bath & Body Works President to Step Down, Role Eliminated BoF
- Fear of God, Pacsun veteran to lead Everlane Retail Dive
- Tod’s Group Appoints John Galantic CEO BoF
- Bally CEO Nicolas Girotto Exits Brand WWD
- Shopbop CEO Kim Fleissner Will Also Lead Zappos; Scott Schaefer to Exit WWD
- North America Group President Mark Loomis To Retire from Estée Lauder Companies Happi
- Paul Schiraldi Named CEO of Ilia Beauty WWD
- Hedi Slimane Is Exiting LVMH’s Celine BoF
- L’Oréal USA Names Dave Kersey Senior Vice President of Media Happi
