Latest news with #Birman
Business of Fashion
5 days ago
- Business
- Business of Fashion
Farm Rio Raises Prices, Slows Exports to US
A Brazilian fashion company that's known for colourful prints sported by celebrities including Justin Bieber and Beyoncé is selectively raising prices to cushion the impact of tariffs while scaling back exports to the US. Azzas 2154 SA, owner of the Farm Rio brand, has already increased some prices in the US and is considering shifting parts of its production to Europe from China, chief executive officer Alexandre Birman said during an interview at Bloomberg's headquarters in New York. 'We don't know where tariffs will stop, but we've temporarily slowed US-bound imports,' Birman said. Azzas, one of Brazil's largest apparel exporters, is navigating turbulence in both the US and its home market, where high interest rates have fueled concerns about demand. Globally, sales for mid-tier fashion-focused brands have largely held up, but companies have warned the outlook for the second half is unclear. Brazil's apparel sales have remained healthy so far this year, but Azzas' international expansion may be hindered by higher tariffs. There's also opportunity: Birman sees an opening for Brazilian footwear manufacturing as companies look for alternative sourcing countries to avoid US duties. 'If tariffs on Chinese goods rise above 50 percent, we become competitive,' he said. 'In that case, we'd need to accelerate investments to expand local output, as China's production quality has improved significantly in recent years.' The US hiked tariffs to as high as 145 percent before they were scaled back to 30 percent for 90 days as the countries work toward an agreement. US President Donald Trump has also raised tariffs for countries across the board, and threatened the EU with a levy of 50 percent if no deal is reached. US states and small businesses are challenging the levies at the US Court of International Trade, which earlier ruled against the tariffs. A federal appeals court has temporarily allowed the tariffs to continue, but US trade policy will ultimately be decided by a combination of court rulings and trade negotiations between the US and foreign countries. In subsequent comments to Bloomberg, Birman said that Trump's policies have are causing uncertainty. If duties continue to rise, Azzas may move apparel production to Turkey or Portugal — a shift that would also support the European rollout of its Farm Rio brand. The company currently has a limited number of stores in the region. It's also looking to expand in the Middle East, Mexico and South America. The Farm Rio brand has six stores in the US and more than 100 in Brazil. Azzas, which was formed from the 2024 merger of Arezzo and Grupo Soma, has seen only a 'small impact' from tariffs so far, Birman said. The Belo Horizonte, Brazil-based company is focused on accelerating synergies and improving its cash flow as it merges operations. The group is streamlining operations with an eye on return on invested capital, he added, and hasn't ruled out deals related to its brands. The company also owns high-income brands including Animale, Maria Filó, Cris Barros and Fábula, among others. Birman also has a brand under his own name that sells shoes costing from $400 to $1,000. Actress Emily Blunt wore the shoes during the 2023 Oscar awards. Quarterly Results The integration is starting to deliver results, Birman said, with gains expected as the company streamlines logistics and shipping operations and combines areas such as e-commerce and customer service. In the first quarter, revenue rose sharply from a year earlier. Investors are watching closely for signs of progress. Ruben Couto, an analyst at Banco Santander, said in a recent note to clients that the company's negative operational cash flow and high capital expenditures contributed to higher debt last quarter. To counter this and instil financial discipline, employee bonuses are now tied to Azzas' free cash flow, Birman said. Management also plans to lower capital expenditures by 120 million reais ($21 million) next year by reducing spending on technology and opening new stores via franchisees. Birman downplayed a report from Valor Econômico, a Brazilian newspaper, that there's tension with Grupo Soma founder Roberto Jatahy. 'There are points of divergence that generate interesting debates,' Birman said of his relationship with Jatahy. He added that 'everything is governed by a valid agreement, including a 10-year lock-up plan, to uphold its terms.' Last year, the company's major shareholders agreed to a lock-up plan that restricts the sale of their stakes except in specific cases. Birman and Jatahy are major shareholders in the combined entity, and Soma generates about 30 percent of revenue. Azzas' Brazil-listed stock has advanced more than 50 percent so far this year, with much of the jump following the company's first-quarter earnings release last month. Birman added he has a 'deep: relationship with Farm Rio's founders, Katia Barros and Marcello Bastos. 'We have a fashion connection, there's a constructive relationship with strategy to improve the business,' he said. By Rachel Gamarski Learn more: Why Tariffs Haven't Led to Soaring Prices – Yet Fashion brands will eventually need to offset higher costs for imports. But after raising prices again and again since the pandemic, some retailers are more worried about alienating shoppers than how they'll pay their customs duties.
Fashion Network
6 days ago
- Business
- Fashion Network
Beyoncé-worn fashion upstart Farm Rio raises prices, slows exports to US
A Brazilian fashion company known for colorful prints sported by celebrities, including Justin Bieber and Beyoncé, is selectively raising prices to cushion the impact of tariffs while scaling back exports to the US. Azzas 2154 SA, owner of the Farm Rio brand, has already increased some prices in the US and is considering shifting parts of its production to Europe from China, chief executive officer Alexandre Birman said during an interview at Bloomberg's headquarters in New York. 'We don't know where tariffs will stop, but we've temporarily slowed US-bound imports,' Birman said. Azzas, one of Brazil's largest apparel exporters, is navigating turbulence in both the US and its home market, where high interest rates have fueled concerns about demand. Globally, sales for mid-tier fashion-focused brands have largely held up, but companies have warned that the outlook for the second half is unclear. Brazil's apparel sales have remained strong so far this year, but higher tariffs could hinder Azzas' international expansion. Still, Birman sees opportunity in Brazilian footwear manufacturing as companies seek alternative sourcing countries to avoid US duties. 'If tariffs on Chinese goods rise above 50%, we become competitive,' he said. 'In that case, we'd need to accelerate investments to expand local output, as China's production quality has improved significantly in recent years.' The US hiked tariffs to as high as 145% before scaling back to 30% for 90 days as the countries worked toward an agreement. US President Donald Trump has also raised tariffs for countries across the board and threatened the EU with a levy of 50% if no deal is reached. US states and small businesses are challenging the levies at the US Court of International Trade, which had previously ruled against the tariffs. Although a federal appeals court has temporarily allowed them to remain in effect, the future of US trade policy will depend on a mix of court decisions and ongoing negotiations with foreign governments. In subsequent comments to Bloomberg, Birman said that Trump's policies are causing uncertainty. If duties continue to rise, Azzas may move apparel production to Turkey or Portugal — a shift that would also support the European rollout of its Farm Rio brand. The company currently has a limited number of stores in the region. It's also looking to expand in the Middle East, Mexico and South America. The Farm Rio brand has six stores in the US and more than 100 in Brazil. Birman said that Azzas, formed from the 2024 merger of Arezzo and Grupo Soma, has seen only a 'small impact' from tariffs so far. The Belo Horizonte, Brazil-based company is focused on accelerating synergies and improving its cash flow as it merges operations. He added that the group is streamlining operations with an eye on return on invested capital and hasn't ruled out deals related to its brands. The company also owns high-income brands including Animale, Maria Filó, Cris Barros and Fábula, among others. Birman also has a brand under his own name that sells shoes costing from $400 to $1,000. Actress Emily Blunt wore the shoes during the 2023 Oscars. Quarterly results Birman said the integration is starting to deliver results, with gains expected as the company streamlines logistics and shipping operations and combines areas such as e-commerce and customer service. Revenue rose sharply in the first quarter compared to a year earlier. Investors are watching closely for signs of progress. Ruben Couto, an analyst at Banco Santander, said in a recent note to clients that the company's negative operational cash flow and high capital expenditures contributed to higher debt last quarter. To counter this and instill financial discipline, employee bonuses are now tied to Azzas' free cash flow, Birman said. Management also plans to lower capital expenditures by 120 million reais ($21 million) next year by reducing spending on technology and opening new stores via franchisees. Birman downplayed a report from Valor Econômico, a Brazilian newspaper, that there's tension with Grupo Soma founder Roberto Jatahy. 'There are points of divergence that generate interesting debates,' Birman said of his relationship with Jatahy. He added that 'everything is governed by a valid agreement, including a 10-year lock-up plan, to uphold its terms.' Last year, the company's major shareholders agreed to a lock-up plan that restricts the sale of their stakes except in specific cases. Birman and Jatahy are major shareholders in the combined entity, and Soma generates about 30% of the revenue. Azzas' Brazil-listed stock has advanced more than 50% so far this year, with much of the jump following the company's first-quarter earnings release last month. Birman added he has a 'deep' relationship with Farm Rio's founders, Katia Barros and Marcello Bastos. 'We have a fashion connection; there's a constructive relationship with strategy to improve the business,' he said.
Fashion Network
6 days ago
- Business
- Fashion Network
Beyoncé-worn fashion upstart Farm Rio raises prices, slows exports to US
A Brazilian fashion company known for colorful prints sported by celebrities, including Justin Bieber and Beyoncé, is selectively raising prices to cushion the impact of tariffs while scaling back exports to the US. Azzas 2154 SA, owner of the Farm Rio brand, has already increased some prices in the US and is considering shifting parts of its production to Europe from China, chief executive officer Alexandre Birman said during an interview at Bloomberg's headquarters in New York. 'We don't know where tariffs will stop, but we've temporarily slowed US-bound imports,' Birman said. Azzas, one of Brazil's largest apparel exporters, is navigating turbulence in both the US and its home market, where high interest rates have fueled concerns about demand. Globally, sales for mid-tier fashion-focused brands have largely held up, but companies have warned that the outlook for the second half is unclear. Brazil's apparel sales have remained strong so far this year, but higher tariffs could hinder Azzas' international expansion. Still, Birman sees opportunity in Brazilian footwear manufacturing as companies seek alternative sourcing countries to avoid US duties. 'If tariffs on Chinese goods rise above 50%, we become competitive,' he said. 'In that case, we'd need to accelerate investments to expand local output, as China's production quality has improved significantly in recent years.' The US hiked tariffs to as high as 145% before scaling back to 30% for 90 days as the countries worked toward an agreement. US President Donald Trump has also raised tariffs for countries across the board and threatened the EU with a levy of 50% if no deal is reached. US states and small businesses are challenging the levies at the US Court of International Trade, which had previously ruled against the tariffs. Although a federal appeals court has temporarily allowed them to remain in effect, the future of US trade policy will depend on a mix of court decisions and ongoing negotiations with foreign governments. In subsequent comments to Bloomberg, Birman said that Trump's policies are causing uncertainty. If duties continue to rise, Azzas may move apparel production to Turkey or Portugal — a shift that would also support the European rollout of its Farm Rio brand. The company currently has a limited number of stores in the region. It's also looking to expand in the Middle East, Mexico and South America. The Farm Rio brand has six stores in the US and more than 100 in Brazil. Birman said that Azzas, formed from the 2024 merger of Arezzo and Grupo Soma, has seen only a 'small impact' from tariffs so far. The Belo Horizonte, Brazil-based company is focused on accelerating synergies and improving its cash flow as it merges operations. He added that the group is streamlining operations with an eye on return on invested capital and hasn't ruled out deals related to its brands. The company also owns high-income brands including Animale, Maria Filó, Cris Barros and Fábula, among others. Birman also has a brand under his own name that sells shoes costing from $400 to $1,000. Actress Emily Blunt wore the shoes during the 2023 Oscars. Quarterly results Birman said the integration is starting to deliver results, with gains expected as the company streamlines logistics and shipping operations and combines areas such as e-commerce and customer service. Revenue rose sharply in the first quarter compared to a year earlier. Investors are watching closely for signs of progress. Ruben Couto, an analyst at Banco Santander, said in a recent note to clients that the company's negative operational cash flow and high capital expenditures contributed to higher debt last quarter. To counter this and instill financial discipline, employee bonuses are now tied to Azzas' free cash flow, Birman said. Management also plans to lower capital expenditures by 120 million reais ($21 million) next year by reducing spending on technology and opening new stores via franchisees. Birman downplayed a report from Valor Econômico, a Brazilian newspaper, that there's tension with Grupo Soma founder Roberto Jatahy. 'There are points of divergence that generate interesting debates,' Birman said of his relationship with Jatahy. He added that 'everything is governed by a valid agreement, including a 10-year lock-up plan, to uphold its terms.' Last year, the company's major shareholders agreed to a lock-up plan that restricts the sale of their stakes except in specific cases. Birman and Jatahy are major shareholders in the combined entity, and Soma generates about 30% of the revenue. Azzas' Brazil-listed stock has advanced more than 50% so far this year, with much of the jump following the company's first-quarter earnings release last month. Birman added he has a 'deep' relationship with Farm Rio's founders, Katia Barros and Marcello Bastos. 'We have a fashion connection; there's a constructive relationship with strategy to improve the business,' he said.
Tatler Asia
07-05-2025
- Entertainment
- Tatler Asia
Choupette stars in Hublot's Big Bang 20th anniversary campaign
The late Karl Lagerfeld's beloved Birman cat enters her next chapter—as the face of a Swiss horological powerhouse In the constellation of celebrity pets, perhaps none can command the gravitas of Choupette Lagerfeld. The sapphire-eyed Birman—once the cherished companion of the late Karl Lagerfeld—has long since ascended from pampered pet to cultural phenomenon. Her transformation, marked by a life of private jets and Goyard dishware, reflects not only her singular charm but also the enduring magnetism of her provenance. While the internet has made stars of its feline elite—from the eternally scowling Grumpy Cat to Instagram darling Nala—Choupette inhabits a more rarefied realm. Her world is one of quiet privilege, where staff tend to her every whim and public affection is met with graceful indifference. Groomed to perfection and framed by a life of exquisite excess, she remains impervious to the trappings of virality. Read more: Hublot CEO Julien Tornare shares his vision for the manufacture, talks Big Bang as an icon, and explains why he is taking the brand into music
CNA
02-05-2025
- Entertainment
- CNA
Karl Lagerfeld's cat, Choupette, stars in Hublot's Big Bang 20th anniversary campaign
Who do you get to star in the 20th anniversary campaign of your most iconic watch? Why, the world's famous cat, of course. To mark the 20th anniversary milestone of its emblematic Big Bang watch, Swiss watchmaker Hublot has tapped none other than Choupette – the beloved cat of the late fashion designer Karl Lagerfeld. The blue-eyed Birman, known as fashion's most pampered cat, continues to live the high life even after the death of her owner. It's rumoured that Lagerfeld left a significant portion of his fortune to Choupette, who is now cared for by his former housekeeper. Hublot's choice of Choupette is a curious one, especially since, as the brand humourously pointed out in a press release, the cat 'doesn't have a wrist or know how to tell time'. Yet Choupette, 'a cultural icon known for her haute lifestyle and unfiltered personality', brings her 'signature attitude to a campaign that celebrates outrageous confidence and radical individuality,' Hublot said. In campaign images shot by Carlijn Jacobs, Choupette is carried by a suited figure wearing the Big Bang 20th Anniversary Red Magic model. In another image, she lounges languidly on crimson silk with a glass full of milk in the background and the bold timepiece in the foreground. In a quirky social media video, Choupette replaces a model's head, peeking out of a peacoat and gazing at the Hublot watch as if checking the time. The campaign also introduces Hublot's new tagline, 'Own It', described as a 'bold and unapologetic call to an action, and an uncompromising mindset'. View this post on Instagram A post shared by Hublot (@hublot) Julien Tornare, CEO of Hublot, said: 'The Big Bang represents a revolution in watchmaking, a perfect union of tradition and modernity. While remaining rooted in the values of luxury watchmaking, such as artisanal quality and attention to detail, Hublot has managed to position the Big Bang as a disruptor within an industry that has traditionally seen little design innovation. This is what sets us apart. With our new campaign, we want to celebrate the courage to break the mould and experiment without fear of going beyond.' Throughout the month of May, Hublot will also spotlight two more icons: the Big Bang Tourbillon Automatic Yellow Neon Saxem, worn by a chic mysterious lady in a statement faux fur coat, and the Big Bang 20th Anniversary Titanium Ceramic piece, worn by a powerful athlete. This writer – who also happens to be a cat owner – has two burning questions: How did Hublot manage to get Choupette to stay still for photos? And more intriguingly, how much was she paid?
