Latest news with #Cucinelli
Fashion Network
a day ago
- Business
- Fashion Network
When Will Luxury's Perfect Storm Pass?
For a start, appetite among Chinese consumers for Cartier Love bangles and Burberry trench coats doesn't seem to be getting any worse. Chinese spending in Japan is contracting — with Richemont 's sales in the country down 15% in the three months to the end of June, compared with a 59% increase in the year earlier period — due to the stronger yen. This will be a drag on sales across the industry. But Swatch AG said it had seen the first signs of improvement in China, with a pickup in online sales and a reduction in stocks of watches at third party retailers. Swatch Chief Executive Officer Nick Hayek often looks on the bright side. But Richemont also saw a 7% fall in sales in China, Hong Kong and Macau in its fiscal first quarter, about half the rate of decline in the preceding three months. This was echoed by Burberry Group Plc, which generates about 30% of sales from Chinese consumers at home and abroad. Chief Financial Officer Kate Ferry said the British luxury brand was also seeing a quarter-on-quarter improvement and 'a little bit of stabilization' in China. In the US, financial markets appear to be shrugging off the tariff trauma, with the S&P 500 Index reaching a new high and Bitcoin touching a record $120,000. Given that US luxury demand is correlated with financial wealth, this bodes well. It's possible this is feeding into demand for Brunello Cucinelli SpA's cashmere already: The tech bros' favorite outfitter said sales excluding currency movements rose 11% in the second quarter, and it forecast a 10% increase this year. Investors shouldn't get ahead of themselves, though. Some of the surprises so far have been company specific. Cucinelli sells to the 1%, and while it might not have a logo, it has become a signifier that the wearer is part of an exclusive club that can afford to pay $400 for a T-shirt and $8,000 for a cable knit cardigan. Not many other brands command this type of clientele. Richemont's jewelry is also shining bright, thanks to the luxury market maturing — many who bought bags 20 years ago are shifting to baubles — and the fact that price increases for leather goods have made bangles and necklaces better value for money. As for Burberry, which reported a 1% decline in fiscal first-quarter same-store sales — less than the almost 4% fall that analysts had expected — this compares with a period a year ago when same store sales slumped 21%. LVMH, the industry bellwether, reports second-quarter earnings this week, and they won't be pretty. The behemoth has gone from being one of the strongest performers to one of the weakest, thanks to its reliance on leather goods, which are suffering the most from consumer fatigue. It is also facing some company-specific issues, such as a hard landing after spectacular growth at Dior, difficulties in its drinks division, and supply chain problems at Loro Piana, a rival to Cucinelli. Yet even though we are probably closer to the bottom of the bling bloodbath than the top, many valuations are pricing in the worst. LVMH is trading on a forward price-to-earnings ratio of about 19.5 times, toward the bottom of its five-year average, while Prada SpA shares have lost about 30% since February, as investors took fright at its €1.25 billion ($1.5 billion) purchase of Versace. While the earnings side of the equation could fall further, this looks harsh. Not all luxury stocks are showing a bust. Investors in Hermes International SCA are paying about 50 times the next 12 months' earnings because the brand typically outperforms in tough times, given that demand for its iconic Birkin and Kelly bags outstrip supply. Burberry's shares have more than doubled since September. A successful turnaround, and the company being able to keep any challenges in check, is already priced in. Kering SA stock has risen about 14% since the Gucci owner named Renault 's Luca de Meo as its new CEO last month. That looks optimistic. Even if De Meo is able to sell Kering's 30% stake in Valentino, he still has €10.5 billion of net debt and creative transitions at most of the company's brands to deal with. For investors, a return to bling's boom years still looks far off. But by the time we get to fashion month in September, conditions might look at little less grim. New designers at Chanel, Dior and Gucci are likely to delve into the archives for inspiration this fall. A brighter luxury market would be another retro trend worth embracing.
Fashion Network
a day ago
- Business
- Fashion Network
When Will Luxury's Perfect Storm Pass?
For a start, appetite among Chinese consumers for Cartier Love bangles and Burberry trench coats doesn't seem to be getting any worse. Chinese spending in Japan is contracting — with Richemont 's sales in the country down 15% in the three months to the end of June, compared with a 59% increase in the year earlier period — due to the stronger yen. This will be a drag on sales across the industry. But Swatch AG said it had seen the first signs of improvement in China, with a pickup in online sales and a reduction in stocks of watches at third party retailers. Swatch Chief Executive Officer Nick Hayek often looks on the bright side. But Richemont also saw a 7% fall in sales in China, Hong Kong and Macau in its fiscal first quarter, about half the rate of decline in the preceding three months. This was echoed by Burberry Group Plc, which generates about 30% of sales from Chinese consumers at home and abroad. Chief Financial Officer Kate Ferry said the British luxury brand was also seeing a quarter-on-quarter improvement and 'a little bit of stabilization' in China. In the US, financial markets appear to be shrugging off the tariff trauma, with the S&P 500 Index reaching a new high and Bitcoin touching a record $120,000. Given that US luxury demand is correlated with financial wealth, this bodes well. It's possible this is feeding into demand for Brunello Cucinelli SpA's cashmere already: The tech bros' favourite outfitter said sales excluding currency movements rose 11% in the second quarter, and it forecast a 10% increase this year. Investors shouldn't get ahead of themselves, though. Some of the surprises so far have been company specific. Cucinelli sells to the 1%, and while it might not have a logo, it has become a signifier that the wearer is part of an exclusive club that can afford to pay $400 for a T-shirt and $8,000 for a cable knit cardigan. Not many other brands command this type of clientele. Richemont's jewellery is also shining bright, thanks to the luxury market maturing — many who bought bags 20 years ago are shifting to baubles — and the fact that price increases for leather goods have made bangles and necklaces better value for money. As for Burberry, which reported a 1% decline in fiscal first-quarter same-store sales — less than the almost 4% fall that analysts had expected — this compares with a period a year ago when same store sales slumped 21%. LVMH, the industry bellwether, reports second-quarter earnings this week, and they won't be pretty. The behemoth has gone from being one of the strongest performers to one of the weakest, thanks to its reliance on leather goods, which are suffering the most from consumer fatigue. It is also facing some company-specific issues, such as a hard landing after spectacular growth at Dior, difficulties in its drinks division, and supply chain problems at Loro Piana, a rival to Cucinelli. Yet even though we are probably closer to the bottom of the bling bloodbath than the top, many valuations are pricing in the worst. LVMH is trading on a forward price-to-earnings ratio of about 19.5 times, toward the bottom of its five-year average, while Prada SpA shares have lost about 30% since February, as investors took fright at its €1.25 billion ($1.5 billion) purchase of Versace. While the earnings side of the equation could fall further, this looks harsh. Not all luxury stocks are showing a bust. Investors in Hermes International SCA are paying about 50 times the next 12 months' earnings because the brand typically outperforms in tough times, given that demand for its iconic Birkin and Kelly bags outstrip supply. Burberry's shares have more than doubled since September. A successful turnaround, and the company being able to keep any challenges in check, is already priced in. Kering SA stock has risen about 14% since the Gucci owner named Renault 's Luca de Meo as its new CEO last month. That looks optimistic. Even if De Meo is able to sell Kering's 30% stake in Valentino, he still has €10.5 billion of net debt and creative transitions at most of the company's brands to deal with. For investors, a return to bling's boom years still looks far off. But by the time we get to fashion month in September, conditions might look at little less grim. New designers at Chanel, Dior and Gucci are likely to delve into the archives for inspiration this fall. A brighter luxury market would be another retro trend worth embracing.
Vogue
20-06-2025
- Entertainment
- Vogue
Brunello Cucinelli Spring 2026 Menswear Collection
Classiness and classicism combined at this afternoon's Brunello Cucinelli presentation in Milan. Classy touches included a comprehensive spread of today's Italian national newspapers, eight titles in all, laid out by the buffet. The classicism was built into the clothing we were here to contemplate, which included a comprehensive slew of intelligent seasonal twists applied to the canon of archetypically tailored menswear. Because many of the assembled looks were styled for the borderlands between casual and formal, that view also took in the T-shirts upon which many were built. These came printed with contemporaneous English newspaper reports describing the arrival at the British Museum of the sculptures, originally installed at the Parthenon, known as the Elgin Marbles. Any reference to the modern political debate around these treasures was entirely unintended. Instead their resonance was a reflection upon the capacity of classical forms to echo across cultures. The proof of that was in the garments these T-shirts were layered beneath. Cucinelli and his team started, as ever, with the classics, before applying the mirror of moment and context to retell them for now. This season, that storytelling was loose, light, and long. The skirts of tailored jackets fell buttock-skimmingly low, while the waistlines of roomily double-pleated pants climbed navel-grazingly high. The breadth of Cucinelli's collar shape had also duly expanded in order to maintain the harmonic proportion of the whole. While there were some unusually top-to-toe color stories here, most notably in navy, there were also a series of powerful color brushstrokes: an apricot linen blazer above a gray T-shirt and pant, or a soft knit coral colored shirt under a pale crisp cotton suit and a dark pinstriped trench. An unusually-toned group of looks played dark brown against navy. Cucinelli confirmed that the second point of reference after the fundamental architecture of tailoring was the period in the 1980s when the structure of tailoring was most tested by the boundaries of volume. The mix of those T-shirts, knit sports shirts, and shirting with tie-print inspired patterns under the tailoring further emphasized this fresh exploration of that historic period of creative deformalization. One difference in Cucinelli's approach to this subject was afforded by the technicality of today's materials—white blouson worn over a pair of double-pleated linen pants weighed in at only 80 grams. A pair of blue suede shoes that looked like the hybrid offspring of a soccer boot and a loafer was completely flexible and foldable in the hand, while still robust and resistant on the foot. Cucinelli further experimented by applying the same roomy architecture of his dress trousers to pants cuts in ultralight denim. While a pleated jean might sound pretty wrong, it looked perfectly right. With wearability his central mantra, Cucinelli creates clothes so classic that they operate as Italo Calvino once described classic prose: 'A classic is a book that has never finished saying what it has to say.'
Fashion Network
19-06-2025
- Entertainment
- Fashion Network
Brunello Cucinelli: Soon to be a major motion picture
Add "docudrama star" to the list of Brunello Cucinelli 's professions, alongside designer, brand builder, philanthropist and savant. Cucinelli will make his film debut in December in Rome when he unspools a film on his life and career by Giuseppe Tornatore, an Oscar winner with "Cinema Paradiso" for best foreign film in 1988. 'I thought if I was going to make a film, I had better work with the best. And, well, Giuseppe is magic. Too many people get films made about them when they are dead. Better when you are alive, as I am,' enthused Brunello on Wednesday in his elegant stand at Pitti. The Umbria-born entrepreneur revealed that shooting for the autobiographical film had already begun in 2023 in his hinterland – the towns of Magione, Solomeo and Castel Rigone, clustered around the regional capital Perugia. The evolution of Cucinelli's story, from his modest beginnings to his consecration as the 'king of cashmere,' will be presented on the big screen. 'Cinema Paradiso is a little like the story of my life,' said Cucinelli, who grew up in a working family before going on to build Italy's latest global sartorial brand. "Cinema Paradiso" narrates the story of a successful film director who returns to his small hometown in Sicily for the funeral of his mentor. Its ending is one of the most beautiful in the history of film. Cucinelli also divulged that he had called on the skills of composer Nicola Piovani, another Italian Oscar winner for "Life Is Beautiful" in 1997, for the soundtrack. The news emerged as Brunello unveiled a subtle yet very substantial switch in his aesthetic – baggy pants. New trousers cut with double pleats, and a lower, looser waist. 'More like this,' explained Brunello as he opened his jacket to reveal the trousers' lower waistline, and how he had displaced buttons an inch lower on the jacket of his six-button chalk stripe linen suit. Believe it or not, Cucinelli even showed worn and ever-so-ripped jeans, practically an insurrection in his bible of style. His informal evening breaks new ground with matinee idol jackets with satin-free shawl lapels. While the color palette also has plenty of kick–orange, apricot, royal blue, and coral red. Overall, think fluid yet sartorial. But the biggest news will come in early December when Brunello unveils his docudrama. Tornatore's most recent film was a biopic on Italy's most famous composer for cinema, Ennio Morricone. Next, Giuseppe and Brunello will head to Rome for the cinematic debut in the capital's legendary film studio – Cinecittà – in the first week of December. Roll over, David Beckham and Michael Jordan; there is a new docudrama designer sheriff in town.
Fashion Network
19-06-2025
- Entertainment
- Fashion Network
Brunello Cucinelli: Soon to be a major motion picture
Add "docudrama star" to the list of Brunello Cucinelli 's professions, alongside designer, brand builder, philanthropist and savant. Cucinelli will make his film debut in December in Rome when he unspools a film on his life and career by Giuseppe Tornatore, an Oscar winner with "Cinema Paradiso" for best foreign film in 1988. 'I thought if I was going to make a film, I had better work with the best. And, well, Giuseppe is magic. Too many people get films made about them when they are dead. Better when you are alive, as I am,' enthused Brunello on Wednesday in his elegant stand at Pitti. The Umbria-born entrepreneur revealed that shooting for the autobiographical film had already begun in 2023 in his hinterland – the towns of Magione, Solomeo and Castel Rigone, clustered around the regional capital Perugia. The evolution of Cucinelli's story, from his modest beginnings to his consecration as the 'king of cashmere,' will be presented on the big screen. 'Cinema Paradiso is a little like the story of my life,' said Cucinelli, who grew up in a working family before going on to build Italy's latest global sartorial brand. "Cinema Paradiso" narrates the story of a successful film director who returns to his small hometown in Sicily for the funeral of his mentor. Its ending is one of the most beautiful in the history of film. Cucinelli also divulged that he had called on the skills of composer Nicola Piovani, another Italian Oscar winner for "Life Is Beautiful" in 1997, for the soundtrack. The news emerged as Brunello unveiled a subtle yet very substantial switch in his aesthetic – baggy pants. New trousers cut with double pleats, and a lower, looser waist. 'More like this,' explained Brunello as he opened his jacket to reveal the trousers' lower waistline, and how he had displaced buttons an inch lower on the jacket of his six-button chalk stripe linen suit. Believe it or not, Cucinelli even showed worn and ever-so-ripped jeans, practically an insurrection in his bible of style. His informal evening breaks new ground with matinee idol jackets with satin-free shawl lapels. While the color palette also has plenty of kick–orange, apricot, royal blue, and coral red. Overall, think fluid yet sartorial. But the biggest news will come in early December when Brunello unveils his docudrama. Tornatore's most recent film was a biopic on Italy's most famous composer for cinema, Ennio Morricone. Next, Giuseppe and Brunello will head to Rome for the cinematic debut in the capital's legendary film studio – Cinecittà – in the first week of December. Roll over, David Beckham and Michael Jordan; there is a new docudrama designer sheriff in town.
