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Rabanne owner Puig expects slower sales growth in 2025

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Reuters

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February 27, 2025

Puig, the Spanish beauty company behind perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier expects its revenues to grow between 6% and 8% this year after reporting an 11% increase in sales last year.

Rabanne – Spring-Summer2025 – Womenswear – France – Paris – ©Launchmetrics/spotlight

The company, which also owns luxury skincare brand Byredo and makeup brand Charlotte Tilbury, said the weaker predicted growth was due the market’s moderation, particularly in the make-up and skincare segment.

The forecast also takes into account possible new tariffs in the United States.

The company said its full-year net profit reached 531 million euros ($552.82 million), a 14% rise from 2023. Analysts, on average, had expected a profit of 542.5 million euros. Sales reached 4.79 billion euros, up 11%.

The Spanish company had surpassed its goal of growing sales faster than the 6%-7% forecast for the global premium beauty market last year.
The company, which first listed on the Madrid stock exchange in May, has seen its share price plunge 25% since the initial public offering (IPO).

Puig blamed costs related to the IPO and the payment of employee bonuses for a 26% fall in net profit in the first half of the year.

The Barcelona-based company reported strong holiday season sales thanks to less exposure to sluggish demand in China.

Half of its revenue comes from Europe, the Middle East and Africa (EMEA), and a third from the Americas.

The beauty group said higher growth in fragrances helped it offset slower business in the make-up sector.

Larger rivals such as L’Oreal and Estee Lauder reported slower sales in 2024 due to weak Chinese demand and persistent inflation in the United States, which also dented demand for beauty products. 

© Thomson Reuters 2025 All rights reserved.



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Virgil Abloh Foundation names inaugural executive director

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February 28, 2025

The Virgil Abloh Foundation (VAF) announced on Thursday the appointment of Chicago-based leader Dana Loatman as its first executive director.

Dana Loatman – Courtesy

Established by Shannon Abloh and family to continue the legacy of her late husband, multi-hyphenate, Virgil Abloh, the VAF exists to break down barriers and creating equitable opportunities for underrepresented youth in creative fields. In her new role, Loatman will oversee the foundation’s operations, strategic planning, and program development.

“Virgil was a visionary who believed deeply in not only opening doors – but keeping them open – for young creatives of color who would come after him,” said Loatman. “I am deeply honored to lead The Virgil Abloh Foundation and carry forward the incredible legacy that he envisioned. Together, with Shannon, partners and collaborators, I will work endlessly to create limitless pathways and build a more equitable and inclusive industry for the next generation of creatives.”

With more than a decade of experience in the nonprofit, philanthropic, creative and social impact sectors, Loatman most recently served as chief of staff of external affairs for the Obama Foundation. In this role, Loatman oversaw the strategy and operations for the Obama Foundation’s community engagement, talent relations, marketing and communications work. Prior to that, Loatman served as an advisor to Obama Foundation CEO, Valerie Jarrett, building the corporate & foundations partnerships team from the ground up. Here, she secured over $100 million from major brands and developed partner collaborations with organizations such as Apple, Nike, NBA, TNT, Google, ESPN/Disney, BET, Pepsi, Ford Foundation, MacArthur Foundation and the Andrew Mellon Foundation.

Loatman has also held international leadership positions at World Vision International, Yunus & Youth, the Institute for Nonprofit Practice and the Philanthropic Initiative at the Boston Foundation, among others.

​”Virgil and I first began investing in communities and youth more than two decades ago, so finding the person to take on the immense responsibility of leading the Foundation was something I took very seriously,” said Shannon Abloh, the Virgil Abloh Foundation founder and board president.

“We embarked on a thoughtful search to find a leader who embodies Virgil’s approach of reimagining what’s possible. I know he would be energized to see someone with Dana’s character, creativity and drive at the helm. Dana’s ability to rethink traditional ideas of philanthropy while crafting forward-thinking approaches ensures we continue to honor Virgil’s legacy in a way that stays true to his spirit.”

Loatman will be supported by VAF’s inaugural board of directors, which includes leaders from across fashion, nonprofit, philanthropic, and creative industries including Shannon Abloh, founder and president, Virgil Abloh Foundation; Marc Eckō, founding director, Complex Ntwrk; Howard Feller, president H Feller Enterprises; Naecia Dixon, Virgil Abloh Post-Modern Scholar and Color Designer, Men’s footwear, Nike; Monica Haslip, executive director, Little Black Pearl; and Corey Smith, VP and head of diversity, Equity and Inclusion at LVMH North America.

Copyright © 2025 FashionNetwork.com All rights reserved.



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A proper Pompeii party by Fausto Puglisi

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February 28, 2025

A volcanic red ceiling and a volcanic collection of clothes, images and ideas courtesy of Fausto Puglisi in his latest Pompeii-inspired collection for the house of Roberto Cavalli.

Roberto Cavalli – Fall-Winter2025 – 2026 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

Staged on a mock lava runway in a south Milan show-space Thursday evening, and worn by a cast that clearly loved the high-octane chic Puglisi dreamed up.
 
Where the key to the collection were the sensational prints, absolutely in synch with this great brand’s DNA. Especially the composite blend of images of interiors of the decimated Roman city seen in flamenco dresses, or the graphic black and white Magna Grecia mosaics and symbols used in pants suits and bomber jackets. Fausto’s accessories also recalling Roman jewelry with snake handle bags.

“I actually photographed those shots of lava on Mountain Etna myself, when I last visited,” chuckled Puglisi, who then included the images of molten lava flowing down the Sicilian volcanic on va-va-voom gowns, super sexy cocktails and billowing tops.  A charming wee sleight of hand, as the volcano above Pompeii is Vesuvius, which completely buried the town in AD 79 in an eruption of pumice and lava.
 

Roberto Cavalli – Fall-Winter2025 – 2026 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

Very much a night-time collection, including slip dresses in silk and velvet moiré negligees finished lava designs. In another smart ploy, Fausto used the mashed-up architectural prints in negligee looks, dissected by obi belts.

Though Puglisi didn’t forget to include some of founder Roberto’s signature big cat prints and rock goddess shearling coats printed to look like cheetah.
 
A bold dynamic statement, in a bold dramatic show, where the music began with solemn electronic cathedral sounds, and ended with Jaydee’s anthem “Plastic Dreams”. 
 
Once a gentleman’s Grand Tour meant a year touring 19th-century Italy. Today, with Fausto, it means absorbing the beauty and splendor of Pompeii and recrafting it for the future.
 

Roberto Cavalli – Fall-Winter2025 – 2026 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

As a result, Vesuvius’ lava was reimagined on velvet devoré dresses, baggy denim pants and in a trench, trimmed with faux fur in a signature leopard motif. Lava stones used as buttons on outerwear and jackets. 
 
While Pompeii’s frescoes grew into prints on suits, soft shirts and pants. All this, surprisingly, sifted through a design blender that included elements of Adrian, and the 1920s Hollywood design god’s broad silhouettes.
 
So, be aware, they are talking of restricting the numbers of tourists daily into Pompeii. But there are little limits to this collection’s success, Fausto’s best for Cavalli.
 

Copyright © 2025 FashionNetwork.com All rights reserved.



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Tariff worries surpass 2018 levels, dominating earnings season

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Bloomberg

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February 27, 2025

As some of the world’s largest companies report earnings, one topic is dominating the conversation: tariffs.

Wrangler

The topic has come up about 700 times during quarterly earnings calls for S&P 500 companies — a grouping of the world’s largest publicly traded businesses — according to a Bloomberg News analysis of transcripts. That’s an all-time high in data going back to 2005 and slightly above the number seen in 2018, when President Donald Trump first enacted tariffs.

The White House is moving forward with an aggressive protectionist policy that includes 10% tariffs on all goods from China. Trump also plans to soon follow up with levies on aluminum and steel, as well as 25% duties on imports from Mexico and Canada — the nation’s two largest trading partners.

It’s been hard for businesses to dodge tariff-related questions from analysts this earnings season, but many have so far downplayed the impact. 

“We went through tariffs in the first President Trump administration,” Donald Allan, chief executive officer for Stanley Black & Decker Inc., said on a Feb. 5 earnings call. “We figured out how to navigate it back then. And we’ve built some muscle.”

Some have been more blunt in their assessments. Shoe retailer Steven Madden Ltd. plans to raise prices this year. Kontoor Brands Inc. — maker of the Lee and Wrangler jeans — is mulling doing the same. Others including Chinese fast-fashion giant Shein are adjusting their supply chains to mitigate some of the impact.

“We are cautious on our outlook for 2025 as we face meaningful near-term headwinds,” Steve Madden CEO Edward Rosenfeld said on the company’s earnings call Wednesday. “Most notably, our earnings will be negatively impacted by new tariffs on goods imported into the United States and by our efforts to aggressively diversify production out of China.”

It’s not only on Wall Street that tariffs have been top of mind. Gauges of consumer sentiment have dipped this month in large part due to expectations that Trump’s levies will translate into higher prices. Long-term inflation views now stand at the highest level in almost 30 years, data from the University of Michigan showed last week.

“The consumer right now is confused,” Kontoor CEO Scott Baxter said during the company’s quarterly call with analysts Tuesday. “If you just put yourself in their seat, they’re worried about work. They’re worried about the businesses that they’re in. Are those going to be impacted by some of the layoffs, the tariffs, the current situation right now?”
 



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