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July 30 2014

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50 posts tagged "LVMH"

Bernard Arnault, Miuccia Prada, and More Are Among Europe’s Richest

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Miuccia PradaIt pays to work in fashion. London’s Sunday Times released its annual Rich List this weekend, and nearly one-third of the top 25 richest people in Europe work in the fashion, beauty, or luxury goods industries. Even if you don’t recognize the name of the number one richest man, you’ve likely shopped at one of his stores—Amancio Ortega, the Spanish founder and owner of Zara’s parent company, Inditex, is worth a staggering $64.74 billion. Also included among Europe’s top earners is Bernard Arnault, CEO of LVMH, whose net worth is $32.29 billion. Beauty professionals are included in the mix as well: Liliane Bettencourt, one of the principal shareholders in L’Oréal, is valued at $32.12 billion. And unsurprisingly, the world’s most storied fashion brands are raking in billions: Bertrand Puech, whose family founded Hermès back in 1837, is worth about $24.89 billion, and Alain and Gerard Wertheimer, two brothers with a controlling stake in Chanel, are worth $18.83 billion. Rounding out the top 25 list is Miuccia Prada and her husband, Patrizio Bertelli, who are worth a combined $17.32 billion.

Photo: Getty Images 

Jobs Wanted: The Business of Fashion launches its new recruitment site in London

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BofLondon’s top designers turned out for a dinner party to launch The Business of Fashion’s new recruitment site, BoF Careers, at Mayfair’s Morton’s Club last night. The concept of a fashion- and luxury-only recruitment site came to founder Imran Amed not long after he launched BoF back in 2007. As the site started to grow, so did Amed’s connections.

“People would approach me after shows, dinners, presentations, and ask questions like, ‘I am looking for a PR manager who speaks Mandarin, I am looking for a social media marketer—do you know someone?’ This happened enough times for me to think, Hey, there needs to be an online recruitment site for fashion and luxury only.” Industry heavyweights agreed: LVMH, Tory Burch, the Net-a-Porter Group, Swarovski, Ermenegildo Zegna, Lane Crawford, and Anya Hindmarch, who together employ almost 150,000 people worldwide, are BoF’s launch partners. The CFDA and BFC also became involved. “Starting right now, our seven partners will post their vacancies online, so those looking for employment in fashion worldwide will be able to start their search immediately.”

The evening was also a release party for the second issue of BoF magazine with cover star Victoria Beckham, who also, btw, is seeking a digital marketing intern exclusively on the site—résumés at the ready!

Photo: Courtesy of The Business of Fashion

DSM Brings Moynat to the Big Apple

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DSM Bags

There’s much to be said for the luxury of the discreet, something Moynat has in spades. Sans screaming logos, and even sans advertisements, the Parisian luggage label has made its name on the weight of an impressive heritage. Now, after more than a century and a half, the brand will make its first foray into the stateside market, with a temporary ground-floor boutique in New York’s Dover Street Market. The space opens tomorrow.

Since its inception in 1849, Moynat has enjoyed a storied history as a malletier alongside counterparts Goyard and Vuitton, outfitting Europe’s upper echelons with bespoke trunks. Long before Mulberry’s Alexa, Marc’s Stam, or even the Birkin, there was Moynat’s Réjane, a handbag en homage to celebrated Belle Epoque actress Gabrielle Réjane. But by the latter half of the 20th century, the tide had turned. The grande dame Parisian boutique shuttered in the mid-seventies and Moynat languished more or less in obscurity until being acquired by LVMH in 2010. Since then, CEO Guillaume Davin and artistic director Ramesh Nair have been tasked with reacquainting the world with the house’s former glory. First up was a 2,150-square-foot flagship at 348 Rue Saint-Honoré, which bowed in 2011. Nair has paid particular attention to a sense of joie de vivre, whipping up a sumptuous valise specifically to house the macarons of Pierre Hermé and an opulent, bicycle-mounted picnic case for those who would take their lunch alongside the Seine. A first international boutique opened its doors in London just a month ago, and tomorrow, Midtown East.

DSM

Le Moynat Trunk Show (a tribute to the brand’s historic “caravan” approach to presenting their wares abroad) has made stops previously at the Galeries Lafayette in Paris and Isetan Shinjuku in Tokyo. Along with a bevy of other goods, the Dover Street installment will feature two one-off, hand-painted Quattro bags inspired by New York. “We wanted to blend into [the space] and at the same time tell a story, because for us the most important element in debuting in New York is to share a bit of our history and show our values,” Davin says. Happily, Comme des Garçons CEO Adrian Joffe and his team have endeavored to make that as liberating an experience as possible. “We give them a space and a few health and safety rules, and then leave them complete freedom to do what they want. We urge them to be creative and to be freer than they would be normally. We encourage them to ignore corporate constraints where possible.”

While the pairing of famously cutting-edge DSM and a historic brand unfazed by trend or the passage of time may seem incongruous at first glance, Joffe is quick to dismiss any naysaying. “The juxtaposition of heritage and strong fashion is a very important part of Dover Street Market, just as is the clashing of luxury and streetwear, the iconic and the iconoclastic, the simple and the more complicated—all go toward the aim of an exciting shopping experience through the realization of beautiful chaos. Creative, visionary people do not need borders and boundaries and categorization.”

Le Moynat Trunk Show will be open at Dover Street Market New York, located at 160 Lexington Avenue, from April 24 to June 22.

Photos: Courtesy Photos

Giuseppe Zanotti Lands LVMH Investment

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VALENTINO Celebrates 50 Years with their Milan Flagship Store OpeningAfter several months of discussion, Giuseppe Zanotti has officially confirmed that LVMH-owned private equity fund L Capital has acquired a 30 percent minority stake in Zanotti’s parent company, Vicini. This news comes on the heels of recent LVMH investments in Marco de Vincenzo, Maxime Simoens, and fellow footwear label Nicholas Kirkwood. While the aforementioned designers are largely considered to be up-and-coming, this year marks Zanotti’s twentieth in business. Surely this influx of cash will help ensure further growth and exposure for the brand. Perhaps—we’re hoping, anyway—it will pave the way for future collaborations with the likes of Kanye West (who partnered up with Zanotti several years ago to create shoes for his short-lived ready-to-wear line).

Photo: BFAnyc.com

Chrome Hearts Invests in The Elder Statesman

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Greg Chait

Kering and LVMH aren’t the only ones that can invest in up-and-coming talents. Chrome Hearts, the cult L.A.-based accessories label known for its hard-edged accouterments, has purchased a minority stake in Greg Chait’s luxury knitwear label, The Elder Statesman, reports The Business of Fashion. An unlikely coupling? Perhaps. But it all starts to make sense when you consider that Chrome Hearts founders Richard and Laurie Lynn Stark mentored Chait after he won the CFDA/Vogue Fashion Fund back in 2012. Of course, the California brands’ West Coast connection probably helped, too.

Photo: Joe Schildhorn /BFAnyc.com