GOAT and Bergdorf Goodman Partner on Exclusive Shopping Experience

The leading sneaker marketplace and the iconic 5th Avenue retailer link up to offer rare and highly coveted sneakers

GOAT, the global destination for authentic sneakers, has announced its partnership with iconic New York retailer, Bergdorf Goodman. The two brands will enter an exclusive partnership, which includes a curated shopping experience at Goodman’s Men’s Store on 5th Avenue.

Sneakers and athletic-driven sportswear have been a leading component of the designer and luxury menswear world, and we see this influence continuing to be very important,” said Bruce Pask, Men’s Fashion Director at Bergdorf Goodman. “GOAT is an innovator and leader in the resale space with an elevated aesthetic, peerless expertise, and a focus on customer experience and service, aspects that we absolutely share, making this a perfectly suited partnership and an exciting new experience that our customers can only find at BG.

Rare sneakers, like the Kanye West x Louis Vuitton Jasper, will be on display and for sale.

As part of the partnership, rare and highly coveted sneakers such as Chanel’s collaboration with Pharrell on the Adidas NMD Human Race Trail and the auto-lacing Air Mag ‘Back To The Future’ will be on display via a unique visual installation and available for purchase.

Founded in 2015 to bring trust and safety to sneaker reselling, the GOAT Group offers the greatest selection of sneakers ranging from general releases to rare exclusives. Through its managed marketplace model, authentication service and buyer protection, GOAT is the most trusted option in the industry.

Retail and resale are just at the beginning of their convergence, and as the global demand for streetwear increases, we will continue to see its influence in the luxury market,” said Daishin Sugano, co-founder and CPO of GOAT Group. “Collaborating with Bergdorf Goodman, the iconic luxury retailer, exemplifies the endless possibilities in the industry.”

The GOAT installation opens at Bergdorf Goodman’s Men’s Store (745 5th Ave, New York, NY 10151) on Wednesday, August 21, 2019, and will be open through New York Fashion Week Spring/Summer 2020 shows (September 6 – 11, 2019).

Publishing Giant Condé Nast Announces New Global Leadership Structure

U.S./New York-based Condé Nast and London-based Condé Nast International Are Integrated as One Global Team. New Consumer Marketing Function to Bring Focus on Direct-to-Consumer Efforts With Unified Commercial Team to Better Serve Global Clients’ Holistic Needs

New Leadership Structure is Expected to Help Further Turn the Financial Ship Around As Company Moves Beyond Closing and Selling Off Magazine Titles, Layoffs and Consolidation of Workforce Across All Titles

Long expected, Condé Nast yesterday appointed a new global leadership team designed to accelerate the company’s evolution into a 21st-century media company. The new organizational structure, which combines Condé Nast and Condé Nast International into a unified global team, was created with several guiding principles in mind, including the preservation of local editorial voice and authority, an enhanced focus on the consumer, unification of the company’s ad and commercial sales functions to reflect clients’ local and global needs and the development of new ways to share capabilities and best practices across the company.

Condé Nast is a global media company, home to iconic brands including Vogue, The New Yorker, GQ, Glamour, AD, Vanity Fair, and Wired, among many others. The company’s award-winning content reaches 84 million consumers in print, 367 million in digital and 379 million across social platforms, and generates more than 1 billion video views each month. The company is headquartered in London and New York and operates in 32 markets worldwide including China, France, Germany, India, Italy, Japan, Mexico & Latin America, Russia, Spain, Taiwan, the U.K., and the U.S., with local license partners across the globe. Launched in 2011, Condé Nast Entertainment is an award-winning production and distribution studio that creates programming across film, television, social and digital video and virtual reality.

One of my top priorities has been to define our organizational structure so that we can take full advantage of our unique growth opportunities and exceptional content around the world,” said the recently-appointed CEO of Condé Nast, RogerLynchI’m confident that our new global structure will better enable us to collaborate across teams and markets and, ultimately, deliver unparalleled experiences for our consumers and clients.

The new structure is as follows:

Global Content Functions:: Anna Wintour, U.S. Artistic Director, Editor-in-Chief of Vogue U.S. and (newly-appointed) Global Content Advisor, will continue in her role as U.S. Artistic Director and Editor-in-Chief of Vogue U.S., and will add Global Content Advisor and oversight of Vogue International to her responsibilities. In her expanded role, Wintour will advise the executive leadership team on global content opportunities and act as a resource to editors-in-chief and editorial talent worldwide.

Oren Katzeff, President of Condé Nast Entertainment (CNE), will expand the company’s digital video, film and television operations to create best-in-class video content experiences for audiences worldwide. The company has been increasing its focus on video content and currently generates 1.1 billion video views per month. Under Oren’s leadership, CNE will now be the core of our global network of video teams, supporting the growth of our video businesses in all markets.

David Remnick, Editor-in-Chief of The New Yorker, will also continue to report directly to Lynch.

Global Operations Organization: Wolfgang Blau, President, International & Chief Operating Officer will oversee all non-U.S. markets, as well as selected global strategic functions, including Product & Technology, Data, Licensing, Global Editorial Operations, Business Development, and Delivery & Business Transformation. This organization will ensure day-to-day operational excellence and capability sharing across the business.

Global Commercial Organization: Pamela Drucker Mann, Global Chief Revenue Officer & President, U.S. Revenue, will lead a new global revenue organization that brings together the company’s U.S. and international ad sales, creative and agency, B2B marketing and client service capabilities. Jamie Jouning, promoted to Chief Client Officer, will report to Drucker Mann and oversee key global accounts, multi-market deals, and central digital ad operations. Drucker Mann will define ad sales and ad product strategies globally, and work closely with Jamie and the central team and commercial leads in the company’s worldwide markets to drive overall ad, agency, and B2B revenue and share best practices.

Consumer Marketing Organization: Condé Nast is creating a new consumer marketing organization that will be led by a Chief Marketing Officer (CMO) and will bring added focus to the company’s direct-to-consumer efforts. As the company expands its consumer offerings, this team will be charged with developing best-in-class capabilities and consistency across consumer experiences on every platform. The team will also be responsible for consumer revenue, with a core focus on subscriptions and memberships. In addition, the team will have responsibility for global brand management, consumer research, and insights and global audience development, ensuring a data-driven approach to the company’s efforts. The search for a CMO to lead this new organization will begin immediately.

Corporate Functions: The company is also globalizing its three corporate functions to leverage skills, expertise and standardize processes and best practices: People, Finance and Communications. The company will begin an immediate search and selection process for these and other open roles. Until new leaders are identified, teams will maintain their existing reporting lines and responsibilities.

We’re bringing added focus to our direct-to-consumer efforts and will build a new consumer marketing function that will be charged with developing best-in-class subscription and membership capabilities, and maintaining the authenticity of our iconic global brands,” Lynch continued. “And by transforming our sales organization into a unified global team, Condé Nast will be better positioned to serve the holistic needs of our clients around the world and make it easier for them to do business with us.

The new structure and appointments take effect immediately.

Brooks Brothers, America’s Oldest Retailer, Marks 200-Year of American Style Excellence

Company was Founded by Henry Sands Brooks, Two Hundred Years Ago April 7, 1818

On April 7, 2018, Brooks Brothers, America’s oldest retailer, reached its milestone 200-year anniversary. Since opening its doors on April 7, 1818, in New York City, Brooks Brothers has grown from a small family haberdasher to become a global brand that has shaped and defined American style through its product innovations.

Brooks Brothers Logo

Brooks Brothers logo

Our anniversary today marks a significant and historic milestone not only for Brooks Brothers but also for the retail industry,” said Claudio Del Vecchio, Chairman, and CEO of Brooks Brothers. “This is a moment to celebrate two hundred years steeped in both tradition and innovation.

American fashion today is a result of years of groundbreaking innovations and revolutionary disruptions by Brooks Brothers. While perhaps best known today as a “classic” brand, it is important to note that the brand’s founder, Henry Sands Brooks (1772 – 1833), was no traditionalist at all. He was actually a dandy and an influencer among his peers, always on the lookout for the newest and most novel styles for his emporium in lower Manhattan selling “every new style of cloth, of the finest quality, made to order in the best and most fashionable mode.”

Brooks Brothers 346 Madison Avenue Flagship Store NYC Entrance

Brooks Brothers 346 Madison Avenue Flagship Store NYC Entrance

It is therefore ironic that some of Brooks Brothers’ most classic items today were the result of either invention and innovation — many radical for their time. In fact, Brooks Brothers is notably responsible for the introduction and popularization of some of fashion’s most iconic and enduring items, including the navy blazer, the reverse striped rep tie, the polo coat and the Number One Sack Suit. Even today’s athleisure trend has its origins in Brooks Brothers’ adaptations of sports clothes for daily life — most notably the 1900 invention of the Original Polo® Button-Down Oxford shirt. Finally, Brooks Brothers was responsible for the single most significant contribution to fashion — ready-to-wear tailored clothing, which was introduced to America in the mid-1800s as a consequence of the Gold Rush.

BROOKS BROTHERS Fall/Winter 2018 FIRENZE PALAZZO VECCHIO JANUARY 2018

Brooks Brothers Recent Fashion Show — BROOKS BROTHERS Fall/Winter 2018 FIRENZE PALAZZO VECCHIO JANUARY 2018 — in Florence Italy – Jan 10, 2018 (Photo Credit: Dan Lecca)

This sartorial passion was passed down from Henry to his sons, Elisha, Daniel, Edward, and John: the actual Brooks Brothers. These were fashion’s earliest influencers. For the past two centuries — and straight through to today — Brooks Brothers has outfitted an ever-changing world and is consistently pursuing quality and innovation, always with a respect for the past and an eye toward the future.

A Selection of Brooks Brothers Milestones:

  • Before there was the Eiffel Tower, Big Ben, the Statue of Liberty, Grand Central Terminal, and the cities of Hollywood and Chicago, there was Brooks Brothers.
  • In 1818, Henry Sands Brooks opened clothing shop “H. & D. H. Brooks & Co” on the corner of Catherine and Cherry Streets. The first recorded transaction was actually a loan to a friend.
  • In 1865, President Abraham Lincoln wore a custom-made Brooks Brothers coat to his second inauguration. Sadly, he was also wearing it when he was assassinated a month later.

    2017-05-02 ARCHIVE-031.tif

    Brooks Brothers Original Polo Button Down Oxford

  • In 1900, Brooks Brothers invented the original button-down-collar shirt after noticing that polo players in England were pinning down their collars while playing.
  • In 1902, Brooks Brothers introduced the reverse-stripe rep tie, an adaptation of British regimental ties.
  • In 1915, Brooks Brothers opened its 346 Madison Avenue flagship store, where it remains today.
  • In 1953, Brooks Brothers invented the first ever non-iron shirt.
  • In 1957, Brooks Brothers introduced Argyle socks to America.
  • In 1961, Brooks Brothers designed the “#2 suit” — a favorite of longtime customer President John F. Kennedy.
  • In 1976, Brooks Brothers launched a full women’s collection.
  • In 1979, Brooks Brothers was one of the first international brands to expand to Japan.
  • In 2008, Brooks Brothers acquired Southwick in Massachusetts so that it could resume the manufacturing of tailored clothing in America.
  • In 2016, Brooks Brothers appointed Zac Posen as creative director for the Women’s Collection.

Throughout its history, Brooks Brothers have forged relationships with generations of customers: artists and politicians, working people and captains of industry, and Hollywood legends, as well as 40 out of 45 U.S. Presidents.

Today, Brooks Brothers currently have more than 280 stores in the United States and more than 700 locations internationally in 45 countries and continue to lead with a pioneering spirit, continually developing materials and designs that deliver performance, innovation and high-quality design.

Retail News: Nordstrom Is Nation’s Favorite Fashion Retailer, New Market Force Study Finds

Annual Retail Study Also Uncovers Top Shoe Brands, And Trends In Consumer Confidence, Wearables And E-Commerce

Nordstrom’s fan base is as fervent as ever. For the fifth time in a row, Nordstrom ranked as the nation’s favorite fashion retailer in an annual retail industry study conducted by Market Force Information (Market Force). Market Force polled over 10,000 consumers for the study, which ranks top fashion retailers, reveals retail technology trends and looks at spending plans and habits.

market%20force%20logo

Market Force Information (Market Force) logo

The survey was conducted online in December 2016 across the United States. There was an overall pool of 10,714 respondents covering all four U.S. Census regions. Within the survey pool, 7,241 reported shopping for fashion at a favorite retailer within the past 90 days, and 5,494 reported shopping for shoes within the past six months. There was a broad spectrum of income levels, with 54% indicating incomes of over $50,000 a year. Respondents’ ages ranged from 18 to over 65. Approximately 75% were women and 25% were men. For the rankings, Market Force asked participants to rate their customer satisfaction with their most recent fashion retailer experience, and their likelihood to refer the brand to others. The results were averaged to attain a Composite Loyalty Score. Only retailers with at least 100 locations were included.

Dillard’s and T.J. Maxx Climb Higher in Rankings

Nordstrom, which has built a reputation for incomparable customer service, ranked first among the retailers studied with a score of 64%, up 6% from 2016. Dillard’s made even larger strides from last year, gaining 16% percentage points to rank second with 54%, and was closely trailed by off-price retailer T.J. Maxx, which earned a 53% score. Ann Taylor and Nordstrom Rack landed in the top of the rankings, after not making the cut last year, tying with Kohl’s for fourth place. [See Graph 1].

graph-1-2017-fashion-retailer-rankings

Graph 1 – 2017 Fashion Retailer Rankings

Nordstrom Top for Value, Dillard’s for Creating Full Looks

In the attributes that set one retailer apart from the others, Nordstrom, Ann Taylor and Dillard’s all performed exceedingly well. Overall-winner Nordstrom ranked first for value, atmosphere, and ease of finding items, while Dillard’s took the No. 1 spots for creating a look and finding correct sizes. Ann Taylor landed in the top three in all of these categories. T.J. Maxx and Ross were called out for merchandise selection, and American Eagle has the fastest checkout speeds. [See Graphs 2 and 3].

graph-2-rankings-by-attributes-1

Graph 2 – Rankings by Attributes

graph-3-rankings-by-attributes-2

Graph 3 – Rankings by Attributes

Sizing up Sales Support

Despite the fact that sales assistance is shown to boost satisfaction and sales, less than half (42%) of consumers report being helped by an associate during their last shopping trip. Lane Bryant’s and Nordstrom’s associates assisted customers most often, while Target and T.J. Maxx shoppers received the least help. [See Graph 4].graph-4-sales-associate-effectiveness-by-retailer

Sales associates are the front-line representatives for retailers, and how they engage with customers can make or break the shopping experience and impact sales,” said Cheryl Flink, chief strategy officer for Market Force Information. “The research shows that 90% of customers who were assisted by a sales associate bought something. When customers were not assisted, only 82% made a purchase. That 8% difference in conversion rate is a key reason why fashion retailers need to invest in their sales staff.” Continue reading

Fiji Lands On All Three Covers of The Sports Illustrated Swimsuit 2017 Issue

Secluded VOMO Island Resort and the Idyllic Mamanuca Islands Serve as Backdrop

Tourism Fiji is proud to announce that selected islands of Fiji are featured on all three covers of the highly anticipated Sports Illustrated Swimsuit 2017 issue. Hitting newsstands, the web and social platforms today, the annual Sports Illustrated Swimsuit issue has an unprecedented reach of over 60 million readers worldwide.

kate-upton-as-photographed-in-fiji-mandatory-photo-credit-to-yu-tsa-sports-illustrated

Kate Upton as photographed in Fiji. (Photo Credit to Yu Tsa/SPORTS ILLUSTRATED)

Nestled in the sparkling waters of the South Pacific, Fiji’s 333 islands are known for their endless stretches of white sand beaches, crystal-clear ocean waters, lush jungles and picturesque waterfalls. During the shoot, SI Swimsuit shot in locations including VOMO Island and Vomo Lailai (Little Vomo), situated between Fiji’s two western island chains called the Mamanucas and the Yasawas. Shoots also took place on Mana Island and Modriki Island in the Mamanuca island chain, places revered for their natural beauty and featured in previous film and television productions, including the iconic film “Castaway” and television show, “Survivor.” These locations were selected for their stunning landscapes, yet also for their secluded nature. The models on the shoot included Hannah Ferguson, Danielle Herrington, Bojana Krsmanovic, Ashley Graham and Kate Upton.

kate-upton-shopswim-lead

Kate Upton in the Fiji Islands for the Sports Illustrated 2017 Swimsuit Issue Photo Shoot. (Photo Credit: Yu Tsa/Sports Illustrated Swimsuit 2017)

Fiji is your quintessential paradise, and rightly so!” said MJ Day, Sports Illustrated Swimsuit Assistant Managing Editor. “Tons of tiny islands each with their own look and feel, gorgeous coral-lined beaches decorated with palm trees like it’s straight out of a postcard. VOMO Resort was the perfect base camp for our 2017 shoot. After arriving via helicopter, feeling like a royal, we were greeted by the most perfect beaches…and some black tipped sharks in the shallows (don’t worry, they’re harmless)! The crew enjoyed some of the freshest seafood we have ever had, one lunch eating sashimi from a fish that Hannah Ferguson caught herself. Fiji snagged the 2017 cover, so I think that speaks for itself.”

The models and crew were transported from Los Angeles (LAX) via Fiji Airways, who offers the only non-stop flights from the U.S. to paradise. After arriving in Fiji, the Sports Illustrated Swimsuit crew focused its multi-day destination shoot on the exclusive, luxurious 225-acre-island escape that is VOMO Island Resort. The resort features a choice of four room types ranging from laidback beachfront cottages (or Bures as they are known in Fijian) to the sophisticated 4-bedroom “Residence,” which includes your own Fijian butler. Located only a five-minute boat ride off VOMO Island is Vomo Lailai (Little Vomo); a deserted island that can be rented out for a day of romance and privacy. Guests can indulge in a gourmet champagne picnic delivered to the island upon request.tourism-fiji

Fiji is much more than just its pristine beaches and idyllic tropical islands as showcased in SI Swimsuit 2017,” said Matthew Stoeckel, CEO of Tourism Fiji. “Fiji is world renowned for its authentic, friendly hospitality and it’s the interaction that visitors have with the Local Fijians that make Fiji such a captivating destination. At every resort, guests are always greeted by name and the small guest-to-staff ratio makes the interaction personal and memorable,” concludes Stoeckel.

These personal and heartfelt interactions with visitors further create the notion of Fiji as a transformational destination. Many visitors are highly impacted by the Fijian culture and experience a shift of perspective during their stay. Fiji provides visitors with the opportunity of self-reflection and the development of a deeper communion with nature and culture.

Those interested in learning more about Fiji’s islands, VOMO Island Resort and the places featured on the covers of Sports Illustrated Swimsuit 2017 are invited to click on www.fiji.travel/us/Swim2017.

You can also check out all photos from Swimsuit 2017 on si.com/swimsuit and to see additional images from SI Swimsuit 2017 on location in Fiji, click here: Swim Daily.

Join the conversation about the shoot with the trending hashtags across social media: #SISwim & #FijiNow.

Ashley Graham And Swimsuits For All Feature Real Women In The Annual Sports Illustrated Swimsuit Issue For The Very First Time

New ‘Ashley Graham x Swimsuits For All Collection’ Designed for “Every Body, Every Age, Every Beautiful”

Leading swimwear brand Swimsuits For All, an FULLBEAUTY brand, has once again partnered with model Ashley Graham for a limited edition capsule collection celebrating “every body, every age, every beautiful“. The new ‘Ashley Graham x Swimsuits For All’ collection will debut with a new ad campaign in the 2017 Sports Illustrated Swimsuit Issue and will be the brand’s first full collection available in sizes 6 to 22.ashley-graham-x-swimsuits-for-all-courtesy-of-swimsuits-for-all-ben-watts

From the groundbreaking #CurvesInBikinis campaign to Graham’s first capsule collection with the brand – which sold out in minutes – Graham and Swimsuits For All has proven time and time again that they are an unbeatable combination. This new collection continues that streak, with an expertly designed assortment of swimwear and cover-ups that flatter a woman’s natural shape without sacrificing style.

Available now at www.SwimsuitsForAll.com, ‘Ashley Graham x Swimsuits For All’ will launch with a sun-drenched video and photo series that encourages women of all shapes, ages, and backgrounds to come together and celebrate their unique womanhood. Shot in the vibrant streets and hidden beaches of Puerto Rico, the campaign features Graham in styles from the collection, which was inspired by the festive spirit of the island. Ashley shares the magic of old San Juan with real women and free-spirited locals as they celebrate “every body, every age, every beautiful” all wearing styles from the new collection.

I was so excited to shoot with local women for this shoot, non-models who represent all different body shapes, proving that everyone can look gorgeous in my swimsuits,” said Graham. “We’re continuing to shift perceptions of beauty and encouraging more inclusivity in the fashion industry. I’m proud that my collection is the first to offer sizes 6 through 22, and I cannot wait to see even more ladies rock these sexy suits!”

The 2017 ‘Ashley Graham x Swimsuits For All’ swimwear collection will be available at www.SwimsuitsForAll.com and select retail partners beginning featuring a 16-piece line of bikinis, one-pieces, and cover-ups and priced between $70 – $150, with sizes ranging from 6 – 22.

FULLBEAUTY Brands is the most trusted, comprehensive resource for curvy women and big and tall men seeking fashion inspiration, style advice, and clothing tailored to their individual needs. Proprietary brands under the FULLBEAUTY Brands umbrella include: Woman Within®, Roaman’s®, Jessica London®, Swimsuits For All, KingSize®, BrylaneHome®, and fullbeauty.com®, an online marketplace offering a curated collection of the finest brands and thousands of products, as the premier fashion and lifestyle destination for women sizes 12+.

The Business of Fashion: LVMH Moët Hennessy Louis Vuitton Announces Record 2016 Results

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €37.6 billion in 2016, an increase of 5% over the previous year. Organic revenue growth was 6%.lvmh-moet-hennessy-louis-vuitton

In the fourth quarter, revenue increased by 9% compared to the same period of 2015. Organic growth was 8%. The American market remains on a good track as does Europe. Asia, excluding Japan, continued its good momentum.

Profit from recurring operations reached €7 billion in 2016, an increase of 6%, to which all business groups, apart from selective distribution, contributed. This result compares to 2015 which was itself a year of growth. Operating margin reached 18.7%. Group share of net profit was €3 981 million, representing growth of 11%.

Bernard Arnault, Chairman and CEO of LVMH, said: “LVMH achieved an excellent performance in 2016 within a context of geopolitical and economic instability. Continued innovation, entrepreneurial spirit and the quest for excellence: all Maisons continue to assert these core values while maintaining rigorous execution of their strategies on the ground. In an environment which remains uncertain, we can count on the appeal of our brands and the agility of our teams to strengthen, once again in 2017, our leadership in the universe of high quality products.

Key highlights from 2016 include:

  • Record revenue and profit from recurring operations
  • Growth in the United States, Europe and Asia
  • Good performance of Wines & Spirits in all regions
  • The success of both iconic and new products at Louis Vuitton, where profitability remains at an exceptional level
  • Progress at Fendi
  • The sale of Donna Karan and the acquisition of Rimowa, a leader in luggage of excellence
  • Good momentum at Parfums Christian Dior driven by successful product innovations
  • Market share gains at Bvlgari and TAG Heuer
  • Growth at Sephora which strengthened its position in all its markets and in digital
  • Free cash flow of €3 974 million, an increase of 8%
  • Gearing of 12% at end of December 2016

WINES & SPIRITS: GOOD YEAR WITH PROGRESS IN THE UNITED STATES AND REBOUND IN SHIPMENTS TO CHINA

The Wines & Spirits Business Group recorded an increase in organic revenue of 7 %. On a reported basis, revenue growth was 5 %. Profit from recurring operations increased by 10 %. With volumes up 3%, solid growth continues for champagne and prestige cuvees performed particularly well. Hennessy cognac enjoyed an excellent year with 10% volume growth. The American market is growing well and China saw better momentum after a tough 2015 due to destocking by distributors. Other spirits, Glenmorangie and Belvedere, continued their growth.

LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Hennessy, Glenmorangie, Ardbeg, Belvedere, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton, Bodega Numanthia and Ao Yun.

FASHION & LEATHER GOODS: GOOD PERFORMANCE OF LOUIS VUITTON, OTHER BRANDS STRENGTHENED THEIR POSITIONS

The Fashion & Leather Goods Business Group recorded organic revenue growth of 4% in 2016. On a reported basis, revenue growth was 3 %. Profit from recurring operations increased by 10%. Louis Vuitton had a good year driven by the level of creativity across all its businesses. The continued success of its iconic product range and the strong demand for recent creations such as the new luggage designed by Marc Newson and the Louis Vuitton fragrances, all contributed to this growth. Fendi recorded robust growth crossing the symbolic revenue threshold of 1 billion euros during the year. Loro Piana continued to expand its distribution network and opened a flagship store in Paris. Céline, Loewe and Kenzo all continued to grow. Marc Jacobs continued to work on changes to its collection. Donna Karan was sold in December to the American G-III group. Rimowa, world leader in luggage of excellence, joined the LVMH group.

Its Fashion and Leather Goods division includes Louis Vuitton, Céline, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Nicholas Kirkwood, Loro Piana and Rimowa.

PERFUMES & COSMETICS: CONTINUED SUCCESS OF INNOVATIONS; EXCELLENT PERFORMANCE IN MAKEUP

The Perfumes & Cosmetics Business Group recorded organic revenue growth of 8%. On a reported basis, revenue growth was 6%. Profit from recurring operations increased by 5%. The inauguration of the new atelier for the creation of fragrances, Les Fontaines Parfumées, at Grasse was a highlight of the year. Parfums Christian Dior grew market share in all regions, driven by the worldwide success of Sauvage and the vitality of its iconic perfumes J’adore and Miss Dior. The progress of makeup also contributed to the Maison’s excellent performance. Guerlain benefitted from the successful launch of its new makeup collection inspired by its fragrance La Petite Robe Noire. Benefit experienced strong growth driven by the success of its new collection for eyebrows. Make Up For Ever, Fresh and Kat Von D performed well.

LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe as well as other promising cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh).

WATCHES & JEWELRY: MARKET SHARE GAINS FOR BVLGARI AND TAG HEUER

The Watches & Jewelry Business Group recorded organic revenue growth of 5%. On a reported basis, revenue growth was 5%. Profit from recurring operations increased by 6%. Bvlgari continued to gain market share with enhancements to its Serpenti, Diva and B.zero1 lines. Growth continued in China, Korea and in the Middle East. TAG Heuer grew despite a difficult market for watches, gained market share and benefitted from the success of its new collections and its connected watch. Hublot accelerated its development in Asia and recorded the best year in its history. Chaumet continued to move its product lines upmarket and inaugurated a new boutique concept in Hong Kong.

LVMH‘s Watches and Jewelry division comprises Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd, a joint venture created with the world’s leading diamond group.

SELECTIVE RETAILING: GOOD PERFORMANCE AT SEPHORA, DFS IMPACTED BY A DIFFICULT TOURISM CONTEXT IN ASIA

The Selective Retailing Business Group recorded organic revenue growth of 8%. On a reported basis, revenue growth was 7%. Profit from recurring operations declined by 2%. Sephora gained market share across all regions and once again recorded double-digit growth in both revenue and profits. More than a hundred stores were opened in 2016 including notably a flagship store in the World Trade Center in New York and major renovations in Boston and Singapore. Its online offer accelerated with the launch in six new countries. DFS continued to face a difficult environment, notably in Hong Kong. The expansion into new destinations continued. The opening of the T Galleria in Angkor in Cambodia and one in Venice, Italy were the highlights of the year.

LVMH is also active in selective retailing as well as in other activities through DFS, Sephora, Le Bon Marché, La Samaritaine, Royal Van Lent and Cheval Blanc hotels.

Key figures:

             
Euro millions    

2015

 

2016

 

% change

Revenue    

35 664

 

37 600

 

+ 5 %

Profit from recurring operations    

6 605

 

7 026

 

+ 6 %

Group share of net profit    

3 573

 

3 981

 

+ 11 %

Free cash flow*    

3 679

 

3 974

 

+ 8 %

Net financial debt    

4 235

 

3 265

 

– 23 %

Total equity    

25 799

 

27 903

 

+ 8 %

* Before available for sale financial assets and investments, transactions relating to equity and financing activities Continue reading