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Trump’s tariffs to lift companies’ costs and hurt exports

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Reuters

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April 3, 2025

Businesses around the globe on Thursday faced up to a future of higher prices, trade turmoil and reduced access to the world’s largest market after U.S. President Donald Trump confirmed their worst fears by instituting broad tariffs worldwide.

Reuters

Trump ramped up his trade war with tariff rates from 10% to nearly 50%. He says the levies will bring jobs back to the United States – but company executives were focused on possibly raising prices, reducing shipments, or cutting back investment activity outright.

“The reality is stark: these tariffs will push prices higher on thousands of everyday goods – from phones to food – and that will fuel inflation at a time when it is already uncomfortably persistent,” said Nigel Green, CEO of global financial advisory deVere Group.

Shipping companies, one of the main conduits of global trade, were among the first to sound the alarm on Thursday while many other business leaders kept a low profile as they pondered the new reality.

“The tariff plan announced by the U.S. administration was significant, and in its current form, it clearly isn’t good news for (the) global economy, stability and trade,” Maersk, the world’s second-largest container shipping firm, said.

“It is still too early to say with any confidence how this will ultimately unfold,” the Danish company added.

German container shipping firm Hapag-Lloyd also said that tariffs could affect demand, cargo flows and costs. The world’s fifth biggest container liner said it could be forced to adjust its service network in response.

Those fears were echoed by Dirk Jandura, president of Germany’s BGA association, representing importers and exporters.

“We will have to translate the tariffs into price increases, and in many cases that means a drop in sales,” he said.

Trump sees tariffs as a way of protecting the U.S. economy from unfair global competition and a bargaining chip for better terms of trade.

The most common method of dealing with tariffs is to raise prices, passing along the cost to customers as far as possible. Other companies may try to diversify supply chains, but Trump’s additional 34% tariff on China was accompanied by 46% and 49% tariffs on Vietnam and Cambodia, respectively – all Asian countries where companies had been shifting output.

Shares in Western sportswear brands Nike, Adidas and Puma all dropped sharply on Thursday as Vietnam, Indonesia, and China are leading markets for them to source products.

Shares in Apple fell 7% in Frankfurt, reflecting concerns over the iPhone maker’s big manufacturing base in China.

In the U.S., retailers Target and Best Buy have said they will have to raise prices, but their margins are more likely to be squeezed, and Target and Walmart have been trying to negotiate with Chinese suppliers already dealing with a slowed economy.

U.S. drinkers will pay more for cocktails, champagne and foreign beers, brands will disappear from bar menus and jobs will be lost on both sides of the Atlantic, drinks industry bodies said.

Some European companies that primarily serve higher-income consumers were planning to raise prices even before confirmation of the 20% tariffs on European Union imports.

Italy’s Illy Caffe and Ferrari have both said they will lift prices, calculating premium coffee drinkers and sports car buyers will be able to absorb the extra cost.

Lavazza, another Italian coffee maker, said it could accelerate plans to expand its plant in the U.S., but the company must first assess the impact of potential tariffs on green beans from Brazil.
Giovanna Ceolini, head of Confindustria Accessori Moda, which represents Italian companies in the footwear, leather, fur and tannery industry, said that U.S. tariffs come when companies are already struggling with increased costs.

“We are afraid that for our companies there will be a slowdown (in demand). It will depend on whether Americans are willing to pay a little more (for our goods),” she said.
Jefferies analysts anticipate a 6% increase in U.S. luxury prices as companies seek to protect margins.

The White House says tariffs will encourage more onshoring, similar to the revamped USMCA trade deal Trump signed during his first term that encouraged manufacturing activity to shift from China to Mexico or Canada.

German fan and motor maker ebm-papst, for example, is deliberating whether to build a third production plant or expand its existing site in Tennessee.

CEO Klaus Geissdoerfer said he had initially thought of a new plant in Mexico, but “some are saying, ‘maybe it’s better to go to the USA after all because we’ll have to pay customs duty in Mexico’.”
The most severe risk, according to executives interviewed by Reuters, is that businesses simply stop investing.
 

© Thomson Reuters 2025 All rights reserved.



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Luxury hotels and fashion: The obsession with collaborations

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It’s a trend that experts are calling “resortcore”: wearing a garment or accessory embroidered with the insignia of a luxury hotel. While this is not a new trend, in recent months it has become all the rage, radically transforming classic hotel merchandising.

The Beverly Hills Hotel x The Sil Shop – The Beverly Hills Hotel

To understand the resortcore phenomenon, we need look no further than the Beverly Hills Hotel in Los Angeles, where the hotel’s Gift Shop is teaming up with collaborations of all kinds with fashion brands. The boutique is always packed, and guests who come for lunch at the Polo Lounge or to spend a night in the luxury hotel can leave with Orlebar Brown shorts and bags; ready-to-wear from The SIL, an e-commerce site of exclusive offerings by independent fashion designers; silk pyjamas and dresses made with artist Alexandra Nechita and Shhh Silk sleepwear brand; and a sneaker created with the Koio brand.
 
In West Hollywood, the iconic Sunset Tower Hotel launched its fashion collection in December 2023. A line of vintage-style hoodies and T-shirts created in collaboration with Sporty & Rich brand. A few blocks away, Chateau Marmont sells T-shirts bearing the effigy of its chateau. Le Petit Ermitage, meanwhile, has teamed up with Italian swimwear brand Reina Olga to offer its customers a bikini model called Ginny for diving gracefully into the rooftop pool. 

The same trend can be seen in New York, where luxury hotels are multiplying their collaborations. On the Upper East Side, The Mark Hotel has partnered with British pioneer of poolside style, Orlebar Brown, to create exclusive pair of shorts. The star model of the collection, the classic tailored Bulldog swim shorts feature a signature illustration by Jean-Philippe Delhomme of iconic characters at The Mark. The hotel doesn’t have a swimming pool, but the item is a collector’s item.

Lingua Franca x The Bowery Hotel collaboration
Lingua Franca x The Bowery Hotel collaboration – Lingua Franca

Another hotel to join forces with fashion is The Carlyle, a Rosewood Hotel in the Upper East Side neighborhood, which at the end of 2024 launched its first collection with designer Olivia von Halle, featuring a limited-edition pajama and eye mask cocktail collection that pays homage to the city that never sleeps. This fall, The Bowery Hotel, also in New York, will present its first collaboration with New York brand Lingua Franca, who showed at February’s Fashion Week on the hotel’s premises. 
 
“Ships in the Night is a reflection of Lingua Franca’s ethos: merging beauty and storytelling, sustainability and playfulness,” explained the New York-based brand.

The collection’s ready-to-wear pieces “pair sophistication with irreverence” and draw directly from The Bowery Hotel’s rich interiors and history, while their signature hand-embroidered cashmere features messages such as “joy is an act of resistance” and “art is the triumph over chaos” to remind us of the power of creativity and connection.
 
“Over the years, hotels have come to understand the benefits of collaborating with fashion brands. They go beyond classic hospitality and become part of a lifestyle universe. This allows them to remain culturally relevant, to make their brand shine, and to capture a younger, more engaged audience,” explained Eva Nineuil, CCO at The Madison Melle Agency, in Los Angeles.

“The Millenials and Gen-Z generations are looking for aesthetics, narrative and identity through what they consume. And all hotel merchandising makes accessible a universe that generally remains out of reach. Many don’t have the budget to spend a night at the Ritz or the Beverly Hills Hotel, but can afford a limited-edition cap and hoodie.” 

Sporty & Rich x Le Bristol's collaboration
Sporty & Rich x Le Bristol’s collaboration – Sporty & Rich x Le Bristol

Following the general trend, other American brands are also exporting their collections to hotels and resorts around the world. In 2021, New York-based Bode, the brand founded by designer Emilie Bode, made a collaboration with the Palm Heights Hotel in the Cayman Islands. The limited-edition project took form in a series of jackets.
 
Sporty & Rich, created by Emily Oberg, has been multiplying its collaborations with the American hotel group Rosewood over the last few years. The brand has designed collections for the Hotel du Cap Eden Roc in the south of France, and has already signed two collections for the Bristol Paris.
 
“For me, luxury hotels are such a big part of the lifestyle aspect of the brand. Where you go on holiday, where you stay, what you bring with you, what you do whilst there, it’s all relevant and part of the Sporty & Rich lifestyle,” explained Oberg to FashionNetwork.com “For me, Sporty & Rich is more than just a brand, it’s a world that I’ve created and curated and aspire to be part of myself, and I think that’s what has resonated with others too.”

Staud x St Regis Hotels & Resorts collaboration
Staud x St Regis Hotels & Resorts collaboration – Staud x St Regis

The fast-growing ready-to-wear brand Staud, founded by designer and CEO Sarah Staudinger and boasting eight boutiques in the U.S. and a 9th in West Hollywood, recently joined forces with St. Regis Hotels & Resorts and its hotels in Mexico and Florida. Original to the operation, selected pieces are elegantly presented in-suite for guests to discover at their leisure. 
 
A first collaboration in the world of luxury hotels for the Staud brand known for its West Coast aesthetic and effortlessly chic approach, for which an exclusive resort accessories collection was created, comprising four pieces including tote bag, hat, and two bags all crafted in raffia and embossed Italian calfskin.
 
“The idea of travel has always been a source of inspiration for me,” said Staudinger. “St Regis represents some of the world’s most iconic destinations, and together we’ve designed a collection that embodies that sense of adventure, indulgence and style. This capsule collection combines the effortless, modern novelty of Staud with the legendary glamour of St Regis.”

The Mark Hotel x Orlebar Brown collaboration
The Mark Hotel x Orlebar Brown collaboration – The Mark Hotel x Orlebar Brown

“Resortcore has been a core strategy for decades for European brands like Vilebrequin, Loro Piana, or Missoni. It is part of their lifestyle storytelling and a way to connect with their luxury audience where they are, especially during leisure or business travel,” explained Aurelia Ammour, a fashion and luxury strategy consultant.

“These customers are highly captive, they have the time, the mindset, and the budget to enjoy a full experience and to shop. More recent brands like Jacquemus with Four Seasons and Sporty & Rich are following the same path as it plays a key role in both their narrative and business model.”
 
“To survive and grow, premium brands like Frame or Staud need to expand to a core luxury audience, and resort collaborations are one of the best ways to do that,” continued Ammour. “It resonates with luxury resorts that have a strong appetite to enrich the hotel experience. These collaborations boost visibility, allow brands to engage guests daily with a brand lifestyle, and can generate additional revenue by creating emotional ties to the travel experience.”

Launched in 2021, the first Frame x Ritz Paris collaboration presented a limited-edition capsule collection of apparel and accessories featuring items like cashmere sweaters, signature denim, a gym bag, water bottle, and cashmere blanket.

“A collection designed to evoke the luxury and comfort of staying at The Ritz Paris,” explained the brand at the time.
 

Ritz Paris x Frame collaboration
Ritz Paris x Frame collaboration – Ritz Paris x Frame

As a sign of the popularity of these special collaborations, the Frame brand launched a pop-up store last December. The special event was dedicated to its collaboration with the Ritz Paris at Galeries Lafayette Paris, followed by another pop-up in Dubai at the Mall of the Emirates. 

Four years after its launch, the brand presented a fourth drop focusing on heritage style and high society codes, emphasizing the balance between sport and leisure. In addition to traditional cashmere cardigans, the collection now includes bombers, blazers, wide-leg pants, sweaters, pyjama sets and swimwear.
 
“Pop-ups and experiential stores in resorts, offer potential for sustainable revenue,” concluded Ammour.

“They also act as effective distribution channels, especially for brands as it is part of their narrative. My main concern with what started as a differentiated and effective strategy for marketing and distribution is the risk of saturation. When it becomes repetitive or starts to feel like a cash grab, it loses impact. Less is always more. Brands still need to create strong products, emotional experiences, and narratives to make a real difference.”
 

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Mytheresa to finalize YNAP acquisition on April 23, accelerating rollout of the LuxExperience group

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German luxury e-commerce platform Mytheresa is set to finalize its acquisition of Yoox Net-a-Porter (YNAP) from Swiss group Richemont on April 23, 2025. The deal marks a key milestone in the development of LuxExperience B.V.—a global luxury e-commerce group that was announced earlier this year to unite Mytheresa, Net-a-Porter, Mr Porter, Yoox, and The Outnet under a single operational structure.

Mytheresa will finalize the YNAP acquisition on April 23. – Mytheresa

Originally unveiled in October 2024, the transaction initiates the next phase of LuxExperience’s rollout, focused on integration and execution. The deal follows the European Commission’s unconditional merger control clearance, granted on April 11, 2025, which enabled Mytheresa to proceed with the transaction. The group’s strategic plan includes platform migration, backend harmonization, and a comprehensive restructuring of its off-price divisions.

Although the renaming of Mytheresa’s parent company was first confirmed in January 2025, the spotlight now shifts to execution. LuxExperience’s rollout strategy includes platform migration, backend harmonization, and a structural revamp of its off-price businesses.

The group will implement a shared backend across its in-season luxury platforms—Mytheresa, Net-a-Porter, and Mr Porter—to enhance logistics, inventory management, and the overall customer experience. At the same time, each brand will maintain an independent front-end identity to preserve brand equity and consumer loyalty.

Yoox and The Outnet will be separated from the core in-season platforms. This deliberate move is designed to streamline operations and improve profitability as LuxExperience navigates a competitive and evolving digital marketplace.

Initial projections show the consolidated group targeting €4 billion in annual gross merchandise value (GMV), with an adjusted EBITDA margin above 8% over the medium term. Richemont will retain a 33% equity stake in the newly combined entity and has committed €555 million in cash, along with a €100 million revolving credit facility, to support the transition.

The full integration process is expected to span 24 to 36 months. During this period, the group will concentrate on backend alignment, commercial restructuring, and redefined strategies tailored to each brand’s positioning.

As the acquisition’s finalization approaches, industry analysts are closely monitoring how LuxExperience will balance in-season and off-price strategies across its multi-brand portfolio, while maintaining operational efficiency and a seamless customer experience in the global luxury e-commerce space.

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Italian label Calzedonia partners again with Laetitia Casta for the 2025 swimwear campaign

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Translated by

Nazia BIBI KEENOO

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April 21, 2025

After a successful collaboration in 2023, Italian fashion label Calzedonia has once again partnered with Laetitia Casta to front its 2025 swimwear campaign. The 46-year-old French actress and model reprises her role as the face of the brand’s latest summer line, reinforcing Calzedonia’s focus on timeless elegance and Mediterranean style.

Laetitia Casta slips back into swimwear for Italian label Calzedonia. – Calzedonia

Known internationally for its hosiery, socks, leggings, and swimwear, Calzedonia designed a dedicated capsule collection for this year’s relaunch. To mark the renewed collaboration—coinciding with Casta’s appearance in Balmain’s Spring/Summer 2025 campaign—the brand unveiled a mini-line of one-piece swimsuits tailored to the French market.

The collection highlights refined details such as ruching and jewelry-inspired embellishments. It is available in a palette that includes blue, burgundy, glitter, and more. Released in mid-April, the capsule is available online and in Calzedonia’s nearly 230 retail locations throughout France.

Calzedonia is part of Oniverse, an Italian fashion group that also owns the brands Intimissimi, Tezenis, and Falconeri. In 2024, Oniverse reported a 13.5% rise in global sales compared to the previous year, surpassing €3.5 billion in revenue.

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