Our Personal Shopper in Paris reveals LVHM Results

LVMH: 8% INCREASE IN REVENUE FOR THE FIRST NINE MONTHS OF 2013

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €20.7 billion for the first nine months of 2013, an increase of 4% over thecomparable period in 2012. Organic revenue grew by 8%.

The Group also recorded an 8% rise in organic revenue for the third quarter. The Wines & Spirits and Watches & Jewelry business groups both accelerated their respective growth rates when compared to the first half of 2013. The performance of the other business groups was comparable to the start of the year. Europe has shown good resilience and the US and Asia continue to record strong growth.

The Wines & Spirits business group recorded organic revenue growth of 7% for the first nine months of 2013. Champagne experienced a rebound in the third quarter, driven by strong demand in the Asian and American markets, and its prestige brands made strong progress over the period. Hennessy cognac continued its good progress with solid volume increases combined with its firm pricing policy.

The Fashion & Leather Goods business group recorded organic revenue growth of 4% for the first nine months of the year. Louis Vuitton continues to implement its strategy of very high product quality and distribution excellence. The latest creations in leather goods have been very successful. Fendi continued to focus on fur and leather goods and its third quarter was marked by the opening of stores in Paris and Milan. Céline showed excellent momentum, supported by its leather goods and shoe lines. Other brands continued their development.

The Perfumes & Cosmetics business group registered organic revenue growth of 5% for the first nine months of 2013. Parfums Christian Dior continued its growth, fuelled by the performance of its iconic products and its innovations. The continued success of J’Adore and Dior Homme and the development of Rouge Dior makeup were among the highlights of the last quarter. At Guerlain, a new campaign was devoted to the iconic fragrance Shalimar while La Petite Robe Noire celebrated its first anniversary. Fresh, Benefit and Make Up For Ever continued to record good growth, particularly in Asia where the brands are expanding their distribution.

The Watches & Jewelry business group recorded organic revenue growth of 3% for the first nine months of 2013. The performance of LVMH in both watches and jewelry remains excellent in its own stores. Among other initiatives in the third quarter, Bulgari successfully launched the new high jewelry line Diva and TAG Heuer’s new movement manufacturing facility started its operations. All brands continued to expand their store networks around the world, helping to strengthen the quality of distribution.

The Selective Retailing business group achieved organic revenue growth of 19% for the first nine months of 2013. DFS sales are growing strongly, driven by the excellent performance of its Gallerias in Macao and Hong Kong and the integration for the first time this year of the activities of its three new Hong Kong airport concessions. Sephora continues to gain market share in key regions. Same-store sales growth was particularly strong in the United States and Asia. The expansion of the distribution network continues with several openings in the last quarter. Online sales are also experiencing rapid growth in all regions.

Outlook

Despite the uncertain economic environment in Europe, LVMH remains confident for 2013. The Group will continue its proactive strategy centered on innovation and targeted geographic expansion in the most promising markets. LVMH will rely on the power of its brands and the talent of its teams to further extend, in 2013, its global leadership in the luxury market.

 

Our Personal Shopper unveils Saint Laurent Diamond Jewelry Line

Hedi Slimane is launching a new line of stunning diamond jewelry for the Parisian luxury house.

Titled ‘Saint Laurent Diamond,‘ Slimane’s latest jewelry collection features stunning modernist designs in gold, set with brilliant-cut diamond paving.

The hand-crafted jewelry line, which features rings and bracelets for men and women, follows “the tradition and savoir-faire spirit of Parisian joaillerie,” says the brand.

Customers have the choice of 18K gold or 18K white gold set with diamonds and according to Saint Laurent the collection will be “permanent and evolving.”

Our Fashion Stylist in Paris reveals Christian Dior SS2014

A new era at Dior has begun.

With Raf Simons as the new creative director of the maison, the Christian Dior label is going in a totally new direction. The show is set in an enchanted garden between reality and fiction, inspired by the oneiric atmosphere of the White-Rabbit hole, that ended up in a world where – like Alice – Dior got topsy-turvy.

Mr Simons said “Christian Dior’s works started from nature: if nature can change, we can change the nature of things”, so he did it. He changes completely the DNA of the Maison. He transformed the silhouette, made flower print look acid and almost poisonous, and gave democracy to haute couture. There is a harmonious contrast between classic and innovative in his work that shows the respect for the past and at the some time the glimpse of the future: the bifurcated bar jacket that opened the show was the barest statement of interest.

The collection is all about volumes and appearances, like the Bar trouser suits, with the classic Dior silhouette, that hide in back a bustle of acid-floral-printed pleats. The strict canons shape of short skirts become now asymmetric and the black tulle reveals flowery bustier dresses. Even an otherwise classic shirtdress in grey wool becomes irreverent with metallic-pink bustier.

A remarkable attention to forms and colours is revealed in silk skirts that ballooned on the hips with able assistance from startling combination of green and light pink, orange and lilac.

In the collection some particular pieces are signs by Simons’ characteristic slogan embroidered all over dresses printed with hyper-real iteration of classic Dior flora.

The final parade was a sequence of black Bar suits and strapless silver jacquard dresses.

This collection has been defined “Trans-Dior” to underline the meaning of a “changing thoroughly” mood, a change that Raf Simons used to reach a new and different image of sophisticated wild women.

Personal Shopper in Paris announces Loro Piana joins LVMH

LVMH Moët Hennessy Louis Vuitton agreed on Monday to pay 2 billion euros  for an 80 percent stake in Loro Piana, adding a famous name to its portfolio of brands.

Under the terms of the deal, Sergio and Pier Luigi Loro Piana, the co-chief executives who are great-great-grandchildren of the cloth merchant Giacomo Loro Piana, will continue to run the company. The family will retain a 20 percent stake.

“We have a big respect for the brand and have been looking at Loro Piana for many, many years,” LVMH finance chief Jean-Jacques Guiony said during a conference call.

For generations, Loro Piana produced fabrics, gaining renown for its cashmere and fine wool. But starting in the 1990s, after making the training jackets for the Italian equestrian team at the 1992 Olympic Games in Barcelona, it began making sweaters, shawls and other luxury garments.

Some of its most sumptuous items are made with fabric of the vicuna, a South American relative of the llama that Loro Piana says it helped save from extinction.

Many famed Italian companies remain family-owned, but some have recently chosen to sell. Two years ago, LVMH bought Bulgari for about $6 billion. Kering, the parent of Gucci, agreed to buy a majority stake in the jeweler Pomellato in April.

With its goods available in more than 130 boutiques around the world, Loro Piana hopes to sell a particular way of life.

Sergio Loro Piana once described his company’s products this way: “These are not the needs of a Boston fireman, who wouldn’t wear a cashmere coat if you gave it to him, but needs that I have, that my customers have.”

From Your Personal Shopper in Paris: Christian Lacroix to design for Elsa Schiaparelli

Designer Christian Lacroix has been chosen to create a couture collection as a tribute to Elsa Schiaparelli. The 15-piece collection will be unveiled in July during Haute Couture Week in Paris and will be showcased at 21 Place Vendôme, where Schiaparelli’s original workshop was located.

Each of the unique pieces by Lacroix is expected to be reinterpretations of the late designer’s most famous creations.

Diego Della Valle purchased the trademarks and archives for Elsa Schiaperelli’s brand  and in a press release, has finally detailed his strategy for the fashion house.

Commenting on Schiaparelli’s work, Lacroix commented “In this persona incarnating a true aristocrat, one finds a spirit where mathematics and literature as well as poetry coexist: Elsa is a sacred sphinge who never ceases to interrogate us while offering us new enigmas as answers. Art, theater and cinema … my wish is to reposition Elsa at the center of her maison and on the stage from which she once seduced the world.”

Lacroix will produce the first garments made under the Schiaparelli’s name for almost 60 years and they will likely be on show during Paris Couture Week in July.

As to who will take over for Lacroix, or if he will continue with a ready-to-wear collection if this first couture collection is well-received … that remains to be seen.

From Your Personal Shopper in Paris: Excellent performance for LVMH in 2012

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €28.1 billion in 2012, an increase of 19% compared to 2011. This includes the integration of Bulgari as of June 30, 2011. Organic revenue growth was 9%. All business groups saw excellent momentum in Europe, Asia and the United States. Louis Vuitton, in particular, once again recorded double-digit revenue growth during the year.

Revenue increased by 12% in the fourth quarter, compared to the same period in 2011, with organic revenue growth of 8%. The last quarter saw a modest increase in growth compared to the third quarter of 2012.

Profit from recurring operations increased by 13% to €5 921 million, a performance which is even more remarkable when compared to the strong growth in 2011. Current operating margin was 21% in 2012. Group share of net profit was €3 424 million, an increase of 12% compared to 2011.

Bernard Arnault, Chairman and CEO of LVMH, said: “2012 was another remarkable year for LVMH, especially in the context of the economic slowdown in Europe. All of our businesses demonstrated excellent momentum driven by innovation and the quality of their products, thereby strengthening their positions in traditional markets while continuing to develop in new ones. Looking beyond the appeal of our brands, it is the talent of our teams and their motivation that enables us to so effectively execute our strategy. In 2013, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound, long-term strategy.”

Wines & Spirits: strong growth in vintages and prestige qualities

The Wines & Spirits business group recorded organic revenue growth of 11%. Profit from recurring operations increased by 14%. Continuing the favorable trend for the wines and spirits market in 2011, demand remained strong in 2012. In addition to volume growth, improved product mix and a policy of adjusted price contributed to this excellent performance. Champagne recorded a strong performance in its rosé and prestige vintages. Sparkling and still wines from Estates & Wines experienced strong new growth. Hennessy cognac saw a very good year for all its qualities and in all regions. Belvedere vodka enjoyed good momentum outside the U.S. while the single malt whiskeys Glenmorangie and Ardbeg recorded rapid increases in their key markets. All maisons in this business group thus benefit fully from their value enhancing strategy, based on the image of their brands and the strength of their distribution network.

Fashion & Leather Goods: excellent performance from Louis Vuitton and other brands

The Fashion & Leather Goods business group recorded organic revenue growth of 7% in 2012. Profit from recurring operations increased by 6%. Louis Vuitton, which had another record year, increased its lead over other artisanal brands of leather goods. With double-digit revenue growth, Louis Vuitton maintained its historic strategy based on the extraordinary quality of its products and its excellent distribution. The Maison continues to record an exceptional level of profitability in a context of sustained investment dedicated to strengthening its savoir-faire. The opening of its first dedicated jewelry boutique complete with its first Haute Joaillerie workshop at Place Vendôme in Paris and the reopening of the Maison Louis Vuitton in Shanghai are among the highlights of the year. Fendi continued the qualitative expansion of its distribution network. Its iconic handbag Baguette experienced a record year on its 15th anniversary. As the brand continues to strengthen its identity, Céline showed excellent performance in all its products and in all geographic areas. The performance of the other fashion brands continued to improve.

Perfumes & Cosmetics: excellent momentum

The Perfumes & Cosmetics business group recorded organic revenue growth of 8%. Profit from recurring operations increased by 17%. Parfums Christian Dior saw excellent performance driven by the strength of flagship lines, notably Miss Dior and J’adore. Dior Addict Lipstick confirmed its leadership position in its main markets and the skin care line Prestige continued its sustained growth. Guerlain continued to see strong growth momentum attributed notably to the performance of its new fragrance La Petite Robe Noire. Parfums Givenchy saw strong growth in its makeup line due to broader distribution and the success of its mascara Noir Couture. Benefit, Make Up For Ever and Fresh continued their strong growth.

Watches & Jewelry: strong progress in iconic lines and development of industrial capacity

The Watches & Jewelry business group recorded organic revenue growth of 6% in 2012. Profit from recurring operations rose 26% notably due the performance of Bulgari, consolidated as of 30 June 2011. LVMH watch brands experienced good momentum supported by many innovations and the excellent performance of their iconic models Carrera by TAG Heuer, King Power by Hublot and El Primero by Zenith. In Jewelry, Bulgari confirmed the success of its Serpenti and B.Zerol collections, enriched by new creations, and reinforced the quality of its distribution. Chaumet and Fred continue to develop their star collections.

Selective Retailing: rapid growth thanks to its innovative product and service offering

The Selective Retailing business group recorded organic revenue growth of 14% in 2012. Profit from recurring operations increased by 19%. Due to its strong commitment to the quality of its stores, DFS benefitted from momentum among Asian customers. Three major concessions were won in 2012 at Hong Kong Airport and the concession at Los Angeles Airport was renewed. The opening in Hong Kong of a third Galleria is also a key highlight of the year. Sephora continued to achieve an excellent level of performance and made market share gains across all its regions. Online revenue is growing strongly. In Europe, new stores opened for the first time in Denmark and Sweden. In the United States, the renovation of several flagship stores in New York strengthened the appeal of the brand. Sephora continued its expansion in China while accelerating the renovation of its existing network. Its first stores were opened in the high potential markets of Brazil and India.

Favorable outlook for LVMH in 2013

Despite an uncertain economic environment in Europe, LVMH is well-equipped to continue its growth momentum across all business groups in 2013. The Group will maintain a strategy focused on developing its brands by continuing to build up its savoir-faire, as well as through strong innovation and expansion in fast growing markets.

Driven by the agility of its organization, the balance of its different businesses and geographic diversity, LVMH enters 2013 with confidence and has, once again, set an objective of increasing its global leadership position in luxury goods.

From Your Personal Shopper in London: Privilege Lounge, the world’s most selective online boutique

PRIVILEGE LOUNGE is more than a lifestyle brand and much more than a simple e-commerce website; it is a Personal Buyer and

a unique  Luxury Lifestyle partner delivering customized service experiences to its valued members, the most exclusive products and luxury services to HNWI.

By entering PRIVILEGE LOUNGE members get access to luxury products and services researched by us and to the most exclusive

shopping and luxury lifestyle experiences available internationally and on the web.

Members can become so either by invitation or by applying for a waitlist to be approved by the Privilege Lounge Management Staff.

EXCLUSIVITY

As Privilege Lounge is a members only website, no one but the selected Members can view the featured brands, their products and their price details.

“At Privilege Lounge, we claim to be different from any other e-commerce website: what we offer is an exclusive worldwide buying service

for a discerning VIP clientele managed by our Luxury Lifestyle Consultants and Personal Shoppers, who have an active role in the process

of selecting the luxury products and services to be featured online to our valued Members, thus presenting them to our élite clientele.”

PRIVILEGE LOUNGE is the ultimate Luxury Shopping Club, with a members only restricted access.

Members can become so either by invitation or by applying for a waitlist to be approved by the Privilege Lounge Management Staff.

• The PRESTIGE membership, at a yearly fee of Euro  240.00, will give direct access to selected and exclusive luxury products  and services made available  in just a click.  (access to  VIP Lounge is not included).
• The ELITE membership, at a yearly fee of Euro  1500.00, will give direct access to the VIP Lounge and to selected luxury  products and   exclusive services.
• The VIP membership, offered  to a maximum of 300 members worldwide, at a yearly fee of Euro 14,000.00, is the key opening all the doors to PRIVILEGE LOUNGE. The VIP Membership gives access to a customized and personalized individual assistance with the special attention of a DEDICATED PERSONAL SHOPPER/STYLIST who will personally take care of every step needed in the buying process, from selecting luxury items, gift and outfits, to submitting them to the member and completing the buying process so that everything will be sent from the manufacturer/seller directly.

VIP LOUNGE AND OUTFITS

In the VIP LOUNGE Personal Shoppers will select the different products and create total looks and outfits for Privilege Lounge members.

Fashion Services

• – The dedicated personal shopper/image consultant, who will create  outfits and will go shopping on customer’s behalf;
• – Exclusive Fashion Pre-Orders online;
• – E-Commerce,  where the complete looks will be available  online;
• – Video Shopping Service
• – Specific research on Limited editions and organization of Limited Edition Events;
• – PRIVILEGE LOUNGE Luxury Fashion Experiences in Milan, Paris, London, Cannes, London, St Tropez, Monte Carlo and Dubai.

Luxury and Lifestyle Services:

• – Real Estate Specialist, who will research, pre-select and inspect new properties;
• – Luxury Travels and Events Organizer, providing the most exclusive travel experiences all over the world;
• – Custom Travel Itineraries Specialist, creating specific and unique travel itineraries
• – Renting/hiring aircrafts, automobiles, boats and yachts and properties.

Privilege Lounge will be officially launched on January 30th, 2013.

From Your Personal Shopper in Paris: Goyard Releases Short Film ‘Le Rendez-Vous’

Parisian Trunkmaker and accessory brand Goyard brings an exclusive short visual that honours the craftsmanship and history of the brand.

Directed by Samuel Rixon & Raphaël Hache, the short film tells the story of a young woman having a meeting on Rue Saint Honore, at the Goyard flagship store to pick up her latest custom trunk piece.

Since its doors first opened in 1853, Goyard has been a favourite with celebrities, and many illustrious artists, captains of industry, heads of state or royals have sported its creations. The names of the leading personalities of the 19th and 20th century are to be found in Goyard’s filing cabinet, which keeps track of each and every order placed by customers through a system of nominal index cards.

Upon reading the files, one may daydream easily about the extraordinary and not so unlikely encounters that could have taken place at 233, rue Saint-Honore: Pablo Picasso and Sacha Guitry, the Maharadjah of Kapurthala and Jacques Cartier, the Agnellis and the Rockefellers, the Romanovs and the Grimaldis, Barbara Hutton, Mrs Pompidou and the Princess Aga Khan, Coco Chanel and Jeanne Lanvin, Romy Schneider and Sarah Bernhardt, Edith Piaf and Arthur Rubinstein, Cristobal Balenciaga and Karl Lagerfeld¦

The latter, whose account was open in 1972, is highly emblematic of Goyard’s unique ability to build long-term relationships with its clientele, whether they are famous or anonymous. It is not uncommon for Goyard customers to have accounts active for decades: the Duke and Duchess of Windsor opened theirs in 1939, and it was closed only after the demise of the Duchess in 1986.

From Your Personal Shopper in Paris: PPR Revenue Up 6.6% Versus Q3 2011

• Group revenue jumps 7%

• Excellent performance in luxury: revenue up 12%

• Continuation of the Group’s strategic transformation

PPR posted third-quarter 2012 revenue of €2.6 billion, up 6.6% versus the same 2011 period on a comparable basis, and advanced in all geographic areas. This solid performance reflected further sustained growth in all luxury brands.

The Luxury division posted an 11.9% leap in revenue in the third quarter of the year, driving revenue growth for the first nine months of the year to 15.5%. Revenue recorded by the Sport & Lifestyle division was up 2% for the first nine months of the year.

François-Henri Pinault, Chairman and Chief Executive Officer, noted: “PPR has again delivered a highly satisfactory performance overall this quarter with revenue for the Luxury and Sport & Lifestyle divisions climbing 6.6%. The Luxury division continues to report outstanding growth propelled by the momentum of our brands across all of the Group’s regions. We are also pursuing the Group’s strategic transformation. This quarter’s impressive performance bears witness to the complementary nature and growth potential of our brands, the strength of the Group and the balanced footprint of our businesses. This reinforces our confidence in PPR’s ability to deliver sustained revenue growth, along with gains in operating and financial performance, over the full year.”

• Luxury division In the third quarter of 2012, PPR’s Luxury division delivered excellent performances, with revenue climbing 12% on a comparable basis and 24% in reported terms, in a mixed economic environment and against a high basis of comparison. Sales growth across all luxury brands and in all geographic areas underscores the vitality and healthy geographic spread of the division’s activities. All product categories contributed to the Luxury division’s sales growth, with Fashion and Leather Goods up a strong 11%.

As of September 30, 2012, the store network of the Luxury division comprised 924 units, including 28 net new stores opened during the quarter. Nearly 30 stores have undergone renovations since the beginning of the year.

Gucci Gucci delivered a very good performance in the quarter, with sales up 7% in comparable terms and 16% on a reported basis. All distribution channels contributed to growth, with a strong performance of online sales, which leapt 44% this quarter. All geographic areas reported growth. In Western Europe, sales were up 14%, with a positive impact of tourism on retail sales. Revenue in North America also reported major gains (up 11%), atop a high basis of comparison in the third quarter of 2011, spurred by the brand’s appeal with local clienteles and a growing contribution of tourism. Sales in Asia-Pacific were up 2%, with good results in Mainland China, where the Group posted strong revenue growth. All product categories saw positive growth, in particular Leather Goods (up 8%), which is reaping the benefits of its strategic high-end repositioning implemented over the past several seasons. Sales of Men’s ready-to-wear and of the Children’s collection also posted double-digit growth. As of September 30, 2012, the Gucci network comprised 411 stores, including eight net new stores opened this quarter.

Bottega Veneta Bottega Veneta posted robust revenue growth in the third quarter of 2012, against a high basis of comparison, with revenue up 21% on a comparable basis and 31% in reported terms. The brand achieved a bumper performance on a comparable basis across all geographic areas, especially Western Europe with 42% growth, as tourism complemented strong local demand. Sales also advanced 12% in North America and 18% in Asia-Pacific. In the quarter, revenue jumped by more than 25% in Mainland China. All distribution channels contributed to growth, fuelled by the overwhelming success of the brand’s iconic products as well as their seasonal interpretations. Bottega Veneta posted promising growth in its Men’s product lines this quarter (up 32%), particularly in Shoes. Bottega Veneta’s fragrance line continued to enjoy a positive reception this quarter, as did other smaller lines such as Jewellery. As of September 30, 2012, the Bottega Veneta network comprised 189 directly operated stores, including nine net new stores opened in the quarter.

Yves Saint Laurent

The third quarter of 2012, Yves Saint Laurent reported excellent year-on-year growth of 27% in comparable terms and 33% on a reported basis. All areas contributed to this growth, with outstanding performances in Japan (up 58%) and Asia-Pacific (up 64%) on a comparable basis. The other regions also posted very satisfactory performances, against a high basis of comparison, with revenue growth of 22% in Western Europe and 11% in North America. All product categories made strong contributions, including 30% growth for Fashion and Leather Goods. Retail sales continued to advance, up 31% in the third quarter. The first collections designed by Hedi Slimane met with a very favourable response from buyers and the media. They will reach the stores in early 2013. Yves Saint Laurent operated a network of 89 stores at the end of September (new store openings in Berlin, Milan and Kyoto during the quarter).

Other Luxury brands In the third quarter, PPR’s Other Luxury brands posted comparable sales growth of 16% (46% in reported terms), with all brands and regions contributing to the performance. Momentum remained especially strong for Fashion and Leather Goods, which achieved growth of more than 13% in the quarter, driven by outstanding success of the designer brands and the very solid performances of Brioni and Sergio Rossi. Timepieces and Jewellery also reported strong growth, up 26%. Boucheron‘s latest High Jewellery collections met with great success and Girard Perregaux continues to gain ground, focusing on the brand’s key values and potential. As of September 30, 2012, the store network of the Other Luxury division brands comprised 235 units.

• Sport & Lifestyle division The Sport & Lifestyle division recorded mixed third-quarter results depending on the region, with a 1% decrease in comparable revenue and a 5% rise in reported revenue. Puma sales were stable overall on a comparable basis while Volcom’s revenue contracted due to delivery delays. Puma Puma sales for the third quarter of 2012 were powered by upbeat results in Accessories, especially Cobra Puma Golf, and a resilient performance from the Apparel category. Shoe sales remained sluggish due to the tough economic climate in Western Europe, which accounts for a significant share of the brand’s activities. Puma once again reported good sales performances in North America (up 9%) and in its six priority emerging markets, including Russia, India, Brazil and Mexico. Business remained mixed in Western Europe, with revenue down in France and the United Kingdom. Puma is currently focusing on speeding up and expanding the scope of its Transformation Programme in order to drive medium-term revenue growth.

From Your Personal Shopper in Paris: Chanel acquires Scottish cashmere firm Barrie

Luxury goods firm Chanel has bought the Barrie Knitwear cashmere mill in the Scottish Borders, following the collapse of owner Dawson International.

The deal is expected to secure all 176 jobs based in Hawick.

Barrie Knitwear was a trading division of Dawson International, which was placed in administration in August because of the size of its pension liabilities.

Chanel fashion president Bruno Pavlovsky said: “The acquisition of Barrie business by Chanel is all the more natural as the factory has worked with us for more than 25 years, producing cashmere knitwear including Chanel’s iconic two-tone cashmere cardigans.

“Through this acquisition, we reaffirm our commitment to traditional expertise and craftsmanship, and our wish to safeguard their future and support their development.”

Chanel said Barrie would continue to “pursue its partnerships with all major luxury brands, with no exclusivity” and grow its own brands presence around the world.