SAKS FIFTH AVENUE Celebrates the 10th BIRTHDAY of its Famed 10022-SHOE Salon

It’s been 10 years since Saks revolutionized the shoe industry with a shoe floor so big it needed its own zip code; the luxury retailer marks this incredible milestone with more than 75 exclusive styles, windows featuring custom designer birthday cakes, exclusive made-to-order programs, and moredownload (2)

On August 17, Saks Fifth Avenue will celebrate the 10th birthday of its famed 10022-SHOE salon. A pioneer in the footwear industry, Saks Fifth Avenue was among the first retailers to place a greater focus on shoes by creating a shoe department so big, the U.S. Postal Service granted the floor its own ZIP code―10022-SHOE. And now, 10 years later, 10022-SHOE is home to 110 designer brands―a number that has more than doubled since its inception in 2007; holds as many as 200,000 pairs of shoes; and has been expanded into 25 locations in the U.S. and Canada. Brands such as Jimmy Choo, CHANEL, Christian Louboutin, Dior, Saint Laurent, and Gucci, among others, have been with 10022-SHOE since the very beginning and will honor its 10th birthday at Saks with exclusive styles, made-to-order programs, custom birthday cake window designs, and more.

Saks Fifth Avenue

(Photo Courtesy of PRNewsfoto/Saks Fifth Avenue)

Throughout the past 10 years, Saks Fifth Avenue has held a constant and dominating presence in the shoe industry, selling on average 850,000 pairs of shoes per year, which equates to approximately 8.5 million over the course of its 10 year history―that’s enough “shoe footage” to travel up and down the Empire State Building close to 2,000 times!

Coupled with its impressive selection, 10022-SHOE has played host to many launches, exhibitions and firsts:

  • In 2008, 10022-SHOE was chosen to host the 70th anniversary exhibition of ruby slippers honoring the 1939 film, “The Wizard of Oz,” which included styles by designers including Oscar de la Renta, Stuart Weitzman and Roger Vivier, as well as Judy Garland‘s original ruby slippers designed by Adrian Greenberg of MGM studios;
  • From 2008 to 2015, designers such as Christian Louboutin, Manolo Blahnik, Edgardo Osorio of Aquazzura, Paul Andrew and Nicholas Kirkwood, among many others, made special appearances at 10022-SHOE locations across the country;
  • In early 2015, 10022-SHOE paid tribute to Disney’s live-action film inspired by the classic fairy tale, “Cinderella,” by collaborating, in partnership with Disney Consumer Products, with nine luxury designers―including Paul Andrew, Tabitha Simmons, Nicholas Kirkwood, Jimmy Choo and Salvatore Ferragamo―to create their own interpretations of Cinderella‘s famed glass slipper;
  • Later in 2015, 10022-SHOE made history with the launch of Manolo Blahnik’s first U.S. shop-in-shop in the United States; and
  • In 2016, Saks opened its first store dedicated solely to shoes—10022-SHOE Greenwich—located in the heart of Greenwich, CT.

The strength and growth of 10022-SHOE over the past 10 years is a testament to Saks’ commitment to the footwear category as well as our customers’ desire for the depth and breadth of our designer and emerging designer shoe assortment,” stated Tracy Margolies, Chief Merchant, Saks Fifth Avenue. “10022-SHOE is a landmark for shoe lovers in New York City and around the world for one-of-a-kind merchandise and experiences that they cannot find anywhere else―a core principle of Saks’ identity.”

Beginning this month, Saks Fifth Avenue is celebrating 10022-SHOE‘s 10th birthday with:

  • More than 75 exclusive shoe styles from powerhouse brands such as Aquazzura, Gucci, Giuseppe Zanotti, Valentino Garavani and Gianvito Rossi;
  • 12 exclusive made-to-order programs, including programs by Prada, Alexandre Birman, Manolo Blahnik, Nicholas Kirkwood, Roger Vivier and Jimmy Choo; and
  • 16 designer Happy Birthday 10022-SHOE cakes featured in the New York flagship store’s windows designed by brands such as Valentino Garavani, Gianvito Rossi, Gucci and Prada.

From Thursday, Aug. 17 until Sunday, Aug. 20, Saks will showcase a visual installation in its New York flagship, entitled “10 Galleries: A Decade of Shoes.” Each of the 10 installations will play off the 10022-SHOE exclusive items and trends and invite customers to discover, interact with, and celebrate all things shoes.

Notable footwear designers share memories about Saks Fifth Avenue and 10022-SHOE:

Designer Christian Louboutin speaks about his fondest memory of Saks’ 10022-SHOE: “Doing a personal appearance on the shoe level when it was first opened where women told me intimate stories about themselves and their shoes. It made me understand the desire of the American customer, their differences in their approach, and their taste for luxury.”

Designer Manolo Blahnik speaks about his fondest memory of Saks’ 10022-SHOE: “I think when we first launched our boutique in 2015―we had a book signing and dinner. It was an honour to meet so many women who loved my shoes … I love it [Saks]! It has always been one of my favourite stores, so beautiful and feminine!

Designer Sandra Choi of Jimmy Choo―a brand which first launched at Saks Fifth Avenue in 1997―recalls her favorite memory, designing the commemorative 2007 10022-SHOE stamp: “The custom Jimmy Choo stamp I designed for the inauguration of the shoe floor 10 years ago. It was designed to reflect the unique zip code that was created to mark the opening. It featured a sketch I drew of a signature pump, it was such a fun and original idea.”

Designer Nicholas Kirkwood speaks to his exclusive 10022-SHOE birthday style: “I wanted to create something completely different to celebrate the 10022-SHOE 10th birthday, but also something special, and I loved the idea of the interplay between masculinity and femininity so it was from there that I designed the Combat boot.”

Designer Paul Andrew speaks about his partnership with Saks Fifth Avenue: “Saks has been a signifier of style and sophistication since they opened their doors for the first time in 1924. When I launched my own brand in 2013, my very first order came from Saks. It was a surreal moment—and Saks will always hold a special place in my heart for that reason.”

Designer Edgardo Osorio of Aquazzura speaks fondly about Saks Fifth Avenue: “Saks is such an iconic shopping hub, especially the historic Fifth Avenue flagship, and it’s just amazing to be carried there and all over the United States … Saks was the first department store to buy AQUAZZURA in the U.S. and as one of our key partners, they have continued to believe in me and my designs ever since. Over the years the working relationship has blossomed into a friendship.

Check out Saks’ 10 top shoe trends in the upcoming Saks Fifth Avenue Shoe Book, which will be available in stores and on saks.com August 16. Visitors can view their local stores’ 10022-SHOE celebratory activities on the Store & Locations page on Saks.com. Saks Fifth Avenue also welcomes viewers to connect via its social channels, and to follow #10022SHOE for insider access.

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

The Loafer: A Shoe for All Seasons

Written by Phillip D. Johnson        

Shoe Images provided by Maguire Steele

In recent seasons, high-end shoe designers has taken the men’s loafer shoe into new heights of fashion, making what has long been a men’s staple shoe into a coveted high fashion must-have for women everywhere. Women’s high fashion loafers have appeared in so many collections (and permutations) over the past few seasons, that this usually understated shoe has become truly beyond fabulously trendy. It has become epic. Formerly seen only at preppy brands, the loafer has been taken up by such unlikely champions as Nicholas Kirkwood, the London-based footwear designer whose designs are not generally described as understated, in a pilgrim-inspired, rhinestone buckle version from Marc Jacobs; a suede platform loafer from Saint Laurent Paris and a gold-tipped kiltie-style from Chloé. The trend has even drifted downwards to H&M, Payless, Zara, and other “fast fashion” and mid-priced merchandisers. The loafer rules.

Few men’s shoes today are more flexible and diverse than loafers. Chances are that you have at least one pair of loafers

somewhere in your closet. The penny loafer is a classic. It’s every boy’s first dress shoe (no laces), looks perfect when beaten-up and broken down through your college days, and later is spiffy enough for the office. It’s a lifelong wardrobe staple and just about the most versatile shoe a man will ever own. The history of the loafer is really a simple one. The first loafer, as known and beloved by men today, was reportedly inspired by a 1930s photo in “Esquire” magazine, which captured a group of Norwegian dairy farmers wearing slip-on shoes. The farmers were standing around the “loafing” area where cows were waiting to be milked, which is why in 1933 the Spaulding Leather Company of New Hampshire

Eastland Topsham Tassel Loafer, $95

Eastland Topsham Tassel Loafer, $95

trademarked its new line of men’s footwear as Loafers.

A Maine shoemaker named John Bass had seen the same article, but was slower to act on it than his neighbor. So when Bass introduced his version of the loafer in 1936, he called them Weejuns, which was slang for Norwegians. One of the characteristics of the Bass shoe was a diamond or lip-shaped notch in the decorative, supportive leather band than ran across the instep. Some say the design was supposed to represent the lips of John’s wife, Alice, kissing each pair on their way out the door. But teenagers who wore the shoes started putting a penny in the slot for good luck, and the penny loafer was born. Manufacturers known for their men’s loafers include Florsheim, Johnston Murphy, Bally, Clarks, Kenneth Cole, Gucci, Eastland and Cole Haan, among others. The Italian fashion house of Ferragamo also makes loafers, as does Red Wing, although Red Wing is more commonly associated with work boots than casual shoes. Because the shoes were made of leather and often had simple, understated embellishments on the vamp, loafers could also be worn to work. In particular, the tassel loafer, some with wing-tip designs over the toe, became popular with attorneys and white-collar professionals. And they still are.

Because they could be slipped on, loafers were equally as popular with students in casual, social settings. Considered the official footwear of the preppy lifestyle, the penny loafer has earned its place in history, along with the cotton chino, the oxford shirt (preferably white with button-down collar) and the navy blazer, as an American wardrobe essential that’s timeless, stylish and appropriate for any occasion. The penny loafer had its heyday in the late nineteen fifties and early sixties when the shoe became a pervasive trend on Ivy League campuses. With socks, without socks, sometimes even with white tube socks and shorts, the penny loafer became a centerpiece of the newly solidifying post-war “Ivy League Look”. And although they lost some of their popularity during the youthquake turbulent years of the late 1960’s and into the 1970’s, the penny loafer managed to stage resurgence during the go-go, Wall Street Boom years of the 1980s. I remember having to wear penny loafers as part of my uniform throughout my entire pre-college school years (in the 1980’s0 and I loved them. Even today, GQ, Details, and Esquire prominently features loafer styles throughout a majority of their photo-editorials in each month issue of their magazines. It’s just the perfect shoe.

That’s why loafers—with or without the penny—have become an indispensable part of any stylish warm-weather wardrobe. They are just as appropriate for a summer wedding (when worn with khaki pants and a navy blazer). They are for a weekend spent running errands, without socks, in a pair of cargo shorts. And they are ideal for the office. This versatility, coupled with time-honored craftsmanship, ensures that loafers–penny or not–will remain an icon of style for decades to come.

Since 1955, three generations of the Maine-based Eastland family have been crafting timelessly classic, casual leather eastland-genuine-handcrafted-quality-since-1955-nesw-85108873footwear of the finest workmanship, comfort and quality standards. Full-grain leathers, handcrafted detail, durable soles and exceptional comfort are built into every pair. Drawing from the state’s long-standing tradition of handsewn footwear, the Eastland brand is known for its Americana heritage-inspired style that reflects their Maine roots and long-standing traditional shoemaking principles. Their various footwear collections–including the premium Made in Maine USA and Eastland 1955 Edition Collections–offer styles for modern women and men who appreciate New England classic attitude, long-lasting quality and great value in their casual (and dress) footwear. Continue reading