Swiss duty-free retailer Avolta reported a slightly better-than-expected annual turnover on Wednesday, helped by growth across all regions amid solid leisure demand.
Reuters
The company, which runs shops at airports, on cruise liners, in seaports, and other tourist locations worldwide, posted an annual core turnover of 13.47 billion Swiss francs ($15.24 billion), up from 12.53 billion francs a year earlier, and slightly ahead of analysts’ forecast of 13.43 billion francs in a poll by Vara Research.
In the medium term, Avolta is targeting core turnover growth of 5-7% per year at constant exchange rates, along with an annual improvement in core profit margins of 20-40 basis points.
For the medium term, Avolta is still targeting core turnover growth at constant exchange rates of 5-7% per year, and an annual improvement in core profit margins of 20-40 basis points.
eBay continues to develop its fashion resale category introducing a “groundbreaking” editorial and fashion film project, ‘The Goat Dancer’, culminating in the launch of an inspirational fashion edit.
The digital retail giant is “championing the transformative potential of pre-loved fashion sourced entirely on eBay” by joining forces with fashion photographer Nick Knight, stylist Lara McGrath and creative film/photography venue ShowStudio to develop the project.
With McGrath having established “an inventive and outré approach to styling” and Knight being “captivated by the stylist’s ability to layer and style pre-loved garments into visionary ensembles”, the stylist documents mirror portraits of herself in public changing rooms.
The ShowStudio collaboration brings that creative spirit to life “offering a treasure trove of fashion finds – all £50 and under – ready to be revived and reimagined”.
From scoring Jil Sander shoes for £30 to finding beauty in a Per Una chiffon top, repurposing a kimono into a fishtail skirt, or transforming a bedspread into a dramatic cape, “the project showcases the endless possibilities of second-hand fashion reimagined”.
With old-school glamour inspiring the hair look for the shoot created by Eugene Souleiman, and noughties-inspired make-up by Lynski, Knight and McGrath “crafted a surreal visual narrative that highlights the potential of reimagining fashion through sustainability and artistry”.
Live-streamed on ShowStudio, the shoot “celebrates individuality, reinvention, and the thrill of uncovering hidden gems in pre-loved fashion on eBay—proving that style, creativity, and sustainability go hand in hand”.
To celebrate the collaboration, eBay has also curated an exclusive ShowStudio x Lara McGrath edit featuring secondhand fashion pieces inspired by the shoot, “inviting designers to reimagine archival and pre-loved styles into fresh, relevant works of art that transcend time”.
Dior announced on Wednesday the opening of a new store in Vienna, Austria.
Dior opens new boutique in Vienna’s Goldenes Quartier. – Dior
Located on Tuchlauben Street in the Goldenes Quartier, the city’s luxury fashion epicenter, the boutique spans over 1,000 square meters and houses Dior’s diverse collections, from women’s and men’s ready-to-wear to bags, shoes and accessories, including jewelry, Dior maison lines and perfumes.
The boutique is enhanced by a signature concept designed by architect Peter Marino, defined by a refined atmosphere illuminated by light tones. Design details combining cabochon stone, wood, Versailles parquet flooring and moldings create an ultra-contemporary aesthetic, while honouring the House’s storied heritage.
Honoring Christian Dior’s passion for art and design, the boutique features a magnetic installation by Claudia Wieser, paintings by Christian Eisenberger, Rudolf Polanszky, John McAllister, Maysha Mohamedi, Ross Bleckner, and Donald Sultan, as well as creations by Étienne Moyat and Franck Évennou. Photographic prints on mirror by Marc Swanson and a striking bronze sculpture by Philippe Pasqua add to the boutique’s artistic allure.
The boutique’s furniture selection also contributes to its distinct identity, featuring pieces from designers such as Claude Lalanne, Studio Glithero, Alasdair Cooke, Ado Chale, Delos & Ubiedo, Gary Noffke, Osvaldo Borsani, Ginger & Jagger, and B G Robinson.
Completing the space is the display of multiple reinterpretations of the iconic Lady Dior bag. In the boutique’s window, a multitude of variations is presented, sublimated by minerals—a feat of Isaac Monté—creating a chromatic finish. Within the store, visitors can explore a dedicated wall celebrating the ninth edition of the Dior Lady Art project, by several international artists.
Bernard Arnault, 76, could remain at the helm of the world’s largest luxury group LVMH until he’s 85 if shareholders back a company proposal at its annual shareholder meeting on April 17.
Reuters
Investors in LVMH, which owns high-end labels including Louis Vuitton, Dior and Tiffany, will vote on a change to company bylaws raising the maximum age of its chairman and chief executive officer from 80, according to a company filing.
The maximum age was already increased from 75 in 2022.
Arnault, who is CEO, chairman and, along with his family, controlling shareholder of LVMH, built his sprawling empire spanning hotels and fashion houses through acquisitions.
Chairman of the company since 1989, the tycoon has not publicly named a successor. Every high-level management change is highly scrutinised, kicking off a fresh round of speculation over which of his five children might succeed him.
All of Arnault’s children hold top management positions in the group. The eldest, Delphine, 49, and Antoine, 47, are children from his first marriage.
Alexandre, 32, Frederic, 30, and Jean, 26, are children of the luxury executive’s current wife, Helene Mercier.