Latest news with #accessibleluxury
Yahoo
4 days ago
- Business
- Yahoo
Maje Embarks on New Chapter in Canada With Holt Renfrew Partnership
PARIS — French contemporary label Maje is partnering with Holt Renfrew in Canada to open three new boutiques over the next two weeks. It's a fresh start for the accessible luxury brand following the closure of its previous retail partner Hudson's Bay, which shuttered earlier this year. More from WWD SMCP Recovers 15.5% Stake From Singapore After Lengthy Legal Battle SMCP Q2 Sales Up 3% With Full-price Strategy Boosting Growth SMCP Secures Singapore Court Victory in Battle Over Disputed Share Transfer The first shop-in-shop opens its doors Friday outside of Toronto at Square One Mississauga mall, followed by downtown Calgary, Alberta, on Aug. 22 and downtown Montreal, Quebec, on Aug. 29. In addition to in-store shopping, Maje will also be available online through Holt Renfrew's website starting in mid-September. 'We are incredibly excited to be launching Maje within Holt Renfrew as we continue to grow our presence in Canada,' said Laura Yetman, vice president of retail and business development at parent company SMCP North America. 'The partnership is a natural fit.' Maje is the first contemporary brand to launch with the luxury retailer. Outside of the Holt Renfrew partnership, Maje has five full-price stand-alone boutiques and two outlet stores in Canada. SMCP appointed former Stella McCartney president Ida Simonsen to lead the North American team last October, in an effort to accelerate brand expansion across the region and strengthen retailer ties. Under SMCP chief executive officer Isabelle Guichot, the company is looking to grow in the Americas after scaling back in China. Second-quarter sales for the Maje brand were up 4.9 percent to 113.6 million euros in the most round of results released by parent company SMCP on July 29. The brand added 14 new points of sale in the EMEA region in that time period, and has doubled down on its company-wide full price strategy as it aims to upscale its brands. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns
Yahoo
5 days ago
- Business
- Yahoo
Tapestry quarterly revenue likely rose 5.5% as Coach bags drew young shoppers
By Samantha Marshak -Tapestry kept up a brisk pace of sales in the April-June quarter, with revenue likely growing 5.5%, thanks to growing demand for its stylish handbags that are more affordable than traditional luxury labels. Accessible luxury companies, including Tapestry and Ralph Lauren, are gaining momentum in an economy hit by tariffs and inflation, where younger shoppers are being more prudent with their purchases. Shoppers are walking away from the more opulent wares offered by luxury firms, including Kering . Revenue in the New York-based company's fiscal fourth quarter is expected to have climbed to $1.7 billion, its second-quickest pace of growth in 12 quarters, according to LSEG data. Last week, Tapestry's rival and Michael Kors-owner Capri forecast quarterly revenue above estimates. Shares of Tapestry, which beat Wall Street revenue estimates in the past four quarters, have surged more than two-thirds this year. Revenue from the Coach brand, which accounted for 82% of the company's revenue for the first nine months of the year, likely grew almost 11% in the June quarter, according to LSEG estimates. "They've successfully repositioned the brand to target younger demographics with their Tabby and Brooklyn Bag brands," said Adam Steffanus, a managing director at Advisory Research Investment Management, which owns Tapestry stock. Steffanus noted that sales of European luxury brands LVMH and Chanel have suffered because they raised their prices too high. Tapestry said in May that it was well covered on cross-border tariff risk thanks to less than 10% of production from China and a diversified manufacturing base that includes 70% of production from Vietnam, Cambodia, and the Philippines. Still, Tapestry's other brand, Kate Spade, has been a drag on its performance. The brand has suffered from heavy promotions that have hurt its status as an upscale brand, Steffanus said. Morningstar analyst David Swartz said Coach could raise prices without driving away customers because of its high margins, but Tapestry cannot do the same for Kate Spade handbags. Kate Spade's revenue likely fell 13% in the April-June period, according to LSEG estimates. Tapestry reports earnings on Thursday. At least 16 analysts rate it "buy" or higher, with five rating it "hold." It has no "sell" calls, according to LSEG data. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Tapestry quarterly revenue likely rose 5.5% as Coach bags drew young shoppers
By Samantha Marshak -Tapestry kept up a brisk pace of sales in the April-June quarter, with revenue likely growing 5.5%, thanks to growing demand for its stylish handbags that are more affordable than traditional luxury labels. Accessible luxury companies, including Tapestry and Ralph Lauren, are gaining momentum in an economy hit by tariffs and inflation, where younger shoppers are being more prudent with their purchases. Shoppers are walking away from the more opulent wares offered by luxury firms, including Kering . Revenue in the New York-based company's fiscal fourth quarter is expected to have climbed to $1.7 billion, its second-quickest pace of growth in 12 quarters, according to LSEG data. Last week, Tapestry's rival and Michael Kors-owner Capri forecast quarterly revenue above estimates. Shares of Tapestry, which beat Wall Street revenue estimates in the past four quarters, have surged more than two-thirds this year. Revenue from the Coach brand, which accounted for 82% of the company's revenue for the first nine months of the year, likely grew almost 11% in the June quarter, according to LSEG estimates. "They've successfully repositioned the brand to target younger demographics with their Tabby and Brooklyn Bag brands," said Adam Steffanus, a managing director at Advisory Research Investment Management, which owns Tapestry stock. Steffanus noted that sales of European luxury brands LVMH and Chanel have suffered because they raised their prices too high. Tapestry said in May that it was well covered on cross-border tariff risk thanks to less than 10% of production from China and a diversified manufacturing base that includes 70% of production from Vietnam, Cambodia, and the Philippines. Still, Tapestry's other brand, Kate Spade, has been a drag on its performance. The brand has suffered from heavy promotions that have hurt its status as an upscale brand, Steffanus said. Morningstar analyst David Swartz said Coach could raise prices without driving away customers because of its high margins, but Tapestry cannot do the same for Kate Spade handbags. Kate Spade's revenue likely fell 13% in the April-June period, according to LSEG estimates. Tapestry reports earnings on Thursday. At least 16 analysts rate it "buy" or higher, with five rating it "hold." It has no "sell" calls, according to LSEG data.
