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This week, Veronica Beard partners with the NFL on 32 limited-edition team jackets, Estée Lauder launches on Amazon, and more.
RETAIL NEWS
The NFL Makes a Play for Women’s Fashion
After a Taylor Swift-related surge in viewership and buzz last season, the NFL is partnering with New York-based Veronica Beard to capitalise on the fashion opportunity.
Brunello Cucinelli Believes Luxury Is Alive and Well, Reporting Nine-month Sales Gain
Brunello Cucinelli believes luxury and exclusivity are alive and well. “My confidence in luxury continues to be very high,” said Cucinelli, executive chairman and creative director, as his namesake company on Thursday reported a 12.4 percent increase in revenues to 920.2 million euros for the first nine months of the year, compared with 818.4 million euros in the same period last year.
Gucci’s Marketing and Communications Shakeup Continues
Chief brand officer Alessio Vannetti is the latest to leave the Italian mega-label. With sales under pressure, the brand is restructuring its operations under a new CEO.
Burberry Serves Up Tea, and Outerwear, at Neiman Marcus NorthPark Dallas
The British brand has created an installation inspired by the traditional British park pavilion that will run until Nov. 10 at Neiman Marcus NorthPark in Dallas.
Aerin — the luxury lifestyle brand founded by Aerin Lauder that leans into vibrant colors and goods sourced globally — has unveiled its first West Coast store in Los Angeles in Pacific Palisades.
Giorgio Armani Takes New York, Unveils Flagship, Casa Store, Residences
Armani has timed his new collection’s show in NYC to celebrate the opening of his company’s new building at 760 Madison Avenue, on the corner of East 65th Street, completed in partnership with SL Green Realty Corp., Manhattan’s leading office landlord. The building has been entirely redesigned to include residential units, the new Giorgio Armani and Armani/Casa boutiques, and an Armani/Ristorante, which will open in November.
Jacquemus Christens First U.S. Store in New York’s SoHo
The French luxury label founded by 19-year-old Simon Porte Jacquemus in 2009 is carried at most of the city’s high-end stores, including Saks Fifth Avenue and Bergdorf Goodman, but the two-level, 2,906-square-foot boutique at 143 Spring Street is the brand’s first stand-alone store.
Bloomingdale’s CEO on the Future of American Department Stores
To survive and even thrive, the ailing retail format doesn’t have to reinvent itself, according to Olivier Bron. Bringing his international experience to parent company Macy’s Inc., the new chief executive wants to give customers a more exciting experience and be a better partner to brand vendors.
For LVMH, It’s a Battle for Market Share Now. Let the Games Begin
A shrinking market will require a renewed focus on creativity, greater innovation and a mindset shift among luxury leaders, writes Imran Amed.
Can a $350 Million Plan Transform 5th Avenue Into a Grand Boulevard?
New York City officials and business leaders plan to expand sidewalks, add seating areas and trees and remove two car lanes to make the renowned avenue more pedestrian friendly.
Farm Rio Goes to Brooklyn to Open Its 5th U.S. Store
The Brooklyn store, which opens Monday at 65 North 6th Street in Williamsburg, marks the brand’s fifth unit in the U.S. Other U.S. stores are in New York City’s SoHo, Miami and two in Los Angeles.
Kering Issues Third Profit Warning After Q3 Sales Fall 15%, Gucci Misses Forecasts
Kering issued its third profit warning this year after revenues fell 15 percent in the third quarter as weak demand across Asia caused its star brand Gucci to once again miss expectations with a sharp sales drop. The French group, which also owns brands including Saint Laurent, Bottega Veneta, Boucheron and Balenciaga, said it now expects a recurring operating income of around 2.5 billion euros in 2024.
Miu Miu Returns to Top Spot on Lyst Hottest Brands Ranking
Miu Miu is once again the hottest brand in the world, said shopping platform Lyst. Overturned by Loewe in the second quarter of 2024, Miu Miu returned to the top spot in Lyst’s hottest brands ranking in the third quarter with searches jumping 30 percent quarter on quarter on the site, which has 15 million monthly active users. Alaïa, The Row, Coach, Jacquemus, Gucci and Coach moved up, while Loewe, Bottega Veneta, Versace, Moncler and Balenciaga fell in the ranking.
Ermenegildo Zegna sales drop 7% in third quarter as China weighs
Italian luxury group Ermenegildo Zegna reported a drop in third-quarter underlying revenues on Tuesday, joining rivals in flagging a slump in demand in China. The company, whose brands include ZEGNA, Thom Browne and Tom Ford, said organic revenues - excluding foreign exchange moves, acquisitions and disposals, and changes to licensing agreements - fell 6.7% in July-September, including a 22% drop in China.
BEAUTY NEWS
Inside Ulta Beauty’s Turnaround Plan
As Sephora and Amazon encroach on its territory and draw younger shoppers, Ulta Beauty’s investor day covered strategies to enhance physical stores and keep Gen-Z and Gen Alpha’s attention.
Molly Sims’ Yse Beauty Gains Investment From Willow Growth Partners
Yse Beauty has a new investor. The skin care line, founded in April 2023 by author and actress Molly Sims, has landed an investment from Los Angeles-based private equity firm Willow Growth Partners, whose other beauty investments include Bubble, Kosas and hair care brands Dae and Jupiter.
Fenty Beauty partners with Netflix’s ‘Arcane’ for a gamer-inspired collection
Following its summer 2023 debut on Roblox, Fenty Beauty is continuing its play for the gamer community with a product collaboration with Netflix’s “Arcane.” The show, which is Riot Games’ first animated series, is based on the “League of Legends” video game. The collaborative collection, which will be available November 2, encompasses Fenty-favorite products in new, limited-edition colors.
Emily Weiss recounts the highs & lows of building the Glossier empire
Her journey from intern to billion-dollar brand queen is the stuff of corporate legend. But, as Glossier founder Emily Weiss reveals a decade on, building a beauty behemoth is not for the faint of heart.
While there are many trends in the sun care space (and maybe FDA approval of a new ingredient down the road), here are three that the experts at NIQ are watching closely right now:
- The Skinification of Sun Care: Tried and true skin care ingredients like hyaluronic acid, ceramides and retinol are making their way into sun care. Consumers are looking for multifunctional products that can do it all, delivering skin care benefits on top of sun protection, according to NIQ.
- Innovation & Indies Propel Sales Growth: Sun care is evolving from a functional category made of up heritage brands to a hotbed of innovation, according to NIQ’s experts. From new forms, new brands, and new ingredients, the pace of change is moving faster than ever.
- The Gen Z Takeover: For the youngest beauty consumers, sun care is a priority, according to NIQ experts. Dedicated to skin protection and anti-aging, Gen Z is responsible for much of the sun care category’s growth.
Estée Lauder Launches on Amazon
Estée Lauder is aiming to get firmly back on the growth track and is tapping Amazon to do so. The flagship brand of the Estée Lauder Cos. launches on Amazon Tuesday with an assortment of products across its three axes — skin care, makeup and fragrance — as well as an Amazon-exclusive virtual try-on tool for its foundation. The move to democratize its distribution in the U.S. comes at the same time as an ultra-luxury push globally. The brand recently debuted a luxury retail and services concept in Hainan, China.
How Anastasia Beverly Hills Lost Its Footing
The influencer-favourite brand seemed on rocket-like trajectory in the 2010s, culminating in a reported $3 billion valuation in 2018. But since then, trends have shifted, sales have slid, debt has mounted and its main investor, the private equity firm TPG Capital, is ready to move on.
TikTok is starting to help creators manufacture their own products
TikTok has begun connecting manufacturers directly with creators to make custom goods to sell on Shop, as the company looks to drive up sales.
L’Oréal Group CEO shares dermatological skin-care innovation plan to recruit Gen-Z consumers
L’Oréal Group, the largest beauty conglomerate in the world based on revenue, reported 6% growth for the first nine months of 2024 during an investor call on Tuesday. The beauty conglomerate behind prestige and mass brands like Lancôme and Maybelline shared growth and areas of concern while highlighting science-backed skin care’s continued popularity among global shoppers. Whereas some areas of the business, like sales in China and the sun-care category, tumbled during L’Oréal Group’s Q3 ending September 30, hair care, fragrance and dermatological skin care were bright spots. Dermatological beauty — a growing category, which consists of products developed with dermatologists, with science-backed ingredients and through clinical testing — advanced 11.3% like-for-like with 9.8% reported growth
COMINGS & GOINGS
- Boohoo CEO Steps Down BoF
- Marie Leblanc appointed CEO of Courrèges Vogue Business
- Former Olaplex CEO JuE Wong heads to Performance Beauty Group WWD
