Vogue Business

What's next at FERRAGAMO? Ferragamo’s revenues dropped 12.8% to €523 million in the first half of 2024, the Italian company said on Thursday, as the Asian market and wholesale environment suffered. Net profits in particular took a hit, plunging 73.2% in the first half. In Q2 specifically, revenues dropped 6%. Ferragamo is the latest #luxury brand to succumb to an industry-wide slowdown, the luxury brand's financial performance has been suffering since before this market shift, however, as its sales have been on the decline since the first quarter of 2023. Maliha Shoaib explores what this means: https://lnkd.in/eK8WBTZg

Paid partnership | When every brand wants to come off as authentic, #influencers are the best tool to execute this — as long as you know how to work with them. During #NewYorkFashionWeek #VogueBusiness, in partnership with ShopMy, is bringing together #fashion brand leaders, influencers and the Vogue community to hear how fashion and #beauty are leveraging new tools to make the most of the new creator economy. Save your place now: https://lnkd.in/eGZA2iWd

Mix flour, eggs, water and red food dye and you get… a Marc Jacobs tote bag? The brand recently tapped model and content creator Nara Smith to “make” a mini tote in Smith’s typical video format which has now been viewed 13.7 million times (at the time of publishing). It has generated $966,000 in media impact value on TikTok, and $285,000 on Instagram in the first 48 hours of publishing. As a result, she’s changing what it means to be a successful creator. How can brands get involved?

Despite attributing ‘challenging operating conditions’ within the Chinese ecosystem to its missing consensus expectations of 6%, L'Oréal’s share price was up 1.5% in trading on Wednesday. Leading the charge, dermatological beauty brands - CeraVe Skincare and La Roche-Posay Laboratoire Dermatologique’s sales were up 10.8%, although again, missing consensus expectations of 17.4%. The second-best performing? Consumer products, including Maybelline New York, @#Nyx and L’Oréal Paris (6.7%); Luxe, comprised of higher-end brands such as Yves Saint Laurent Beauty, Prada Group and Valentino (2.8%). “Our continued strong momentum in emerging markets, Europe and North America allowed us to more than offset the depressed beauty market in mainland China and the unfavourable comparative in travel retail,” L’Oréal CEO, Nicolas Hieronimus, said in a statement. Here, Laure Guilbault unpacks the results: https://lnkd.in/es_UsYSf

In a year marked by the 2024 #Olympic Games and the US presidential #elections, patriotic fashion seems to be resurfacing, but the real question is, is anyone buying into it? Whilst the International #Olympic Committee has underscored the importance of leaving politics out of their arenas — often to external criticism — when it comes to fashion, these rules don’t apply. Take football jerseys becoming a street style staple, a movement fronted by designers Martine Rose , Conner Ives , and COMME des GARÇONS. Or Olympians such as #IlonaMaher in head-to-toe Ralph Lauren, clearly #fashion has given patriotism an updated high concept level and to mixed results. As the summer Olympics clash with a major election year, @José Criales-Unzueta unpacks whether patriotism still sells in fashion: https://lnkd.in/e_wrj8gc

Why is #NaraSmith a fashion brand magnet? The viral success seen from Marc Jacobs tapping influencer Nara Smith to make its eponymous tote bag ‘from scratch’ in her signature content creation style confirms it: Nara Smith is changing what it means to be a successful creator in 2024. While Smith characteristically posts Tik Tok's of herself making food from scratch, last week, she tested a new recipe - a “delicious, red Marc Jacobs tote bag,” spoken by Smith in her signature disaffected monotone. Marking yet another smart influencer marketing ploy by Marc Jacobs, the brand enlisted the content creator to craft its hero style in her video format, setting the stage for her fronting its new chain bag campaign. Launchmetrics has reported 13.7 million views, $966,000 in media impact value on TikTok and $285,000 on Instagram, all in the first 48 hours of publishing. The video also generated an MIV 149 times that of an average Marc Jacobs influencer TikTok post; and 44 times the Instagram average. Here, #VogueBusiness' US reporter Madeleine Schulz unpacks how fashion brands should engage with a new era of influencer: https://lnkd.in/eAck-msG Photos: Nara Smith

Prada continues to defy the ongoing slowdown in the #luxury market – thanks to Miu Miu sales, which soared 93% in H1. Sales for Prada Group are up 17% year-on-year to €2.55 billion in the first half of 2024, which ended 30 June. Miu Miu’s Autumn/Winter 2024 show was well received for its wearable silhouettes and playful styling, and the brand has delivered strong performance across categories (particularly leather goods, driven by a new campaign and the Miu Miu Upcycled project). The company also called out the success of Miu Miu’s first literary club, Writing Life, and the launch of #MiuMiu Summer Reads. In a call with investors, #Prada Group CEO Andrea Guerra said Miu Miu’s roots were initially in the Asian market, but increasingly Europe is competing with high demand (North America is now a focus, where demand is smaller comparatively). Maliha Shoaib looks at what the numbers will mean for the company: https://lnkd.in/eAm8mUdS

London-based Georgian designer David Koma is the new creative director of #Blumarine. Known for his red carpet occasionwear, Koma launched his eponymous London-based fashion house in 2009, and has built a robust client base for his sculptural, bold silhouettes. “David Koma’s aesthetic captured me from the beginning. I am sure that David will be able to interpret #Blumarine’s codes to perfection, thanks to his vision and stylistic sensitivity, characterised by an overwhelming femininity,” said Marco Marchi, sole director of Exelite, the holding company that owns Blumarine, in a statement. Koma’s first collection will be pre-fall 2025. Lucy Maguire finds out more: https://lnkd.in/eCwbvG78

Nowadays, it's commonplace for #GenZ and #GenAlpha to flaunt their pimple patches carefree. Whether it's #NorthWest with her #TikTok go-to bed routine or #HaileyBieber and #JustinBieber adorning their faces with his and hers, the pimple patch is embraced. A shift largely directed by the cult brand, Starface World . The numbers don’t lie. With 434 million videos that mention the term “best pimple patch” on TikTok. And 54.7 million posts that mention “Starface pimple patch”, pimple patches, particularly Starface’s, are trending. The brand’s distinctive, colourful and instantly recognisable designs were the first to hit the mainstream in 2019. Now, in an unexpected move, Starface is launching clear patches in response to changing consumer demand. Here #VogueBusiness’ senior trends editor Lucy Maguire reveals the rationale behind the brand’s plans to go clear for the first time: https://lnkd.in/epSaJQyk

The next best ticket in town outside of the #Olympics itself? Luxury’s latest activations. First a mesmerising #Olympic opening ceremony, then a fashion-fuelled after party. True to its nature, fashion is celebrating the best of world-class sports in style and Omega House’s new pop-up was no exception. Over the past few days, stars including #NicoleKidman and daughter Sunday, #CindyCrawford and #KaiaGerber have gathered in the current city of sport to celebrate. Marking #luxury’s continued involvement in the Olympics and fashion’s inspiration from sport, Omega’s longest-standing ambassador and Supermodel #CindyCrawford expressed admiration for the athletes, “for so many of these athletes, it’s pure passion… they’re putting themselves through that, just because they love it. That to me is really awesome,” enthused Crawford. This summer’s Paris Olympics and Paralympics is marking Raynald Aeschlimann’s fourth games as CEO of Omega, the official timekeeper of the event. He’s excited for it. “A sponsor is someone who puts their name forward to try to raise their profile. A partner like us is someone who is part of the emotion, and an important thing is to see the games inside the city,” he tells VogueBusiness. Read the on-the-ground intel from #VogueBusiness' Paris correspondent Laure Guilbault: https://lnkd.in/edq2u_xe