50 posts tagged "LVMH"
Marc Jacobs International has tapped a new CEO this morning, WWD reports. Sebastian Suhl, who has served as the chief executive of Givenchy since 2012, will succeed Bertrand Stalla-Bourdillon. During his stint at Givenchy, Suhl spearheaded ambitious retail efforts that have left the house poised to open roughly twenty-five new boutiques in the remainder of the year. Suhl’s appointment comes at a crucial moment for Marc Jacobs, as the designer refocuses efforts on his namesake brand and prepares for an initial public offering. Before heading to Givenchy, Suhl helped stage Prada‘s IPO on the Hong Kong Stock Exchange in 2011. He will be succeeded at Givenchy by Philippe Fortunato, another LVMH vet and Vuitton’s former North Asian president and CEO.
When Apple poached Angela Ahrendts last year, it marked a major turning point for the megabrand—the former Burberry CEO was enlisted to bring Apple back to its roots and make it not just a tech brand, but a luxury lifestyle label. Paul Deneve, the former CEO of Yves Saint Laurent, also made the leap from fashion to Silicon Valley to work on special projects at Apple. Today, Vanessa Friedman of The New York Times reported that yet another fashion exec has made the jump to Apple. The sales vice president for TAG Heuer, Patrick Pruniaux, has been tapped for an unspecified role with the company.
Though it has not been confirmed, it looks like we might have the man who will helm that iWatch everyone has been buzzing about. When it was first announced that Deneve was joining Apple, there were plenty of rumors floating around that he would be taking on that project. Those turned out to be false. But who better than a TAG Heuer expert to best the competing Samsung Galaxy Gear watch?
With the iWatch reportedly due out in October and a new version of fashion’s greatest accessory, the iPhone, coming out this fall, Apple is busy preparing for some big releases.
But the bigger question remains: What else does it have up its sleeves? It’s now got an all-star team of veteran luxury executives, with presumably more joining it soon. But Ahrendts, who is the head of Apple’s retail and online stores, is a turnaround artist, and like Steve Jobs, she’s an exec with a vision. Certainly, wearable tech is where the focus is these days, with everyone from Google to Opening Ceremony to Nike getting into the game, but Apple hasn’t made its mark in this niche. Yet. Might we see an Apple wearable tech piece make its debut on the runways at New York fashion week, instead of in a more traditional rollout? We wouldn’t be a bit surprised.
Bernard Arnault has finally announced October 27 as the official opening day for the Foundation Louis Vuitton museum in Paris. The 126,000-square-foot building, designed by architect Frank Gehry, will house the corporate art collection of LVMH, as well as specially commissioned works and temporary exhibitions. Fittingly, the debut show, on display through January, focuses on Gehry’s work for the foundation.
“We have a pretty eclectic mix, but it is true that I am quite involved in the choice,” Arnault told WWD of the art in the new museum. “This is a small payback to the public, and to our employees.” Estimated to cost more than $136 million at current exchange, this building is Arnault’s biggest architectural undertaking since 1999′s christening of the twenty-three-story LVMH Tower in New York.
Gehry’s other LVMH creation, a limited-edition monogram handbag for Vuitton, will also be unveiled this October as part of the label’s “The Icon and the Iconclasts” project, along with creations by Karl Lagerfeld, Cindy Sherman, and more.
All marriages have their difficulties, and Donna Karan isn’t afraid to talk about them. In an interview with The New York Times, the veteran designer, who sold her company to LVMH in 2001, said her relationship with the French fashion company (which also owns Céline, Dior, Marc Jacobs, and, of course, Louis Vuitton) has been a little chilly. “Vuitton runs their businesses separately,” she said. “I would love to work more with them, but Vuitton has given me the cold shoulder.” Specifically, Karan notes that LVMH has not been as supportive as she’d hoped in the often-lucrative accessories business. “We were the first one to get into the alligator bags. One of the appeals of the sale to LVMH is that they would have been the perfect partner in handbags, but instead they saw me as a fashion designer.” Sure, everyone bashes their boss behind closed doors, but it’s rare for a designer to air her displeasure with a company as powerful as LVMH so publicly. To be continued, as they say.
J.W. Anderson‘s Jonathan Anderson is making some big moves on the business front. The London-based designer has hired a seasoned CEO, Simon Whitehouse, who previously held executive posts at Diesel and Matthew Williamson; has set up shop in his new 4,000-square-foot headquarters in Dalston, and is set to launch e-commerce on June 16. These are the first major business-oriented developments for Anderson, who also serves as the creative director at Loewe, since LVMH took a minority stake in his budding brand last year. No doubt, this is just the beginning of Anderson’s evolution from fledgling British talent to international luxury label. But the 29-year-old has wisely taken a slow-and-steady approach, rather than diving in headfirst. “When you are doing this level of work it is like kind of training for a marathon,” he told The Business of Fashion. “You cannot take the whole thing at once and sprint it.”