Connect with us

Fashion

Bank of England cuts rates again, sterling falls

Published

on


By

Reuters

Published



February 6, 2025

The Bank of England cut interest rates by a quarter of a percentage point on Thursday, judging a sharp upward revision to its inflation forecasts for this year will prove temporary.

The cut to 4.5% was in line with economists’ expectations in a Reuters poll, but two officials called for a bigger rate cut against a backdrop of weaker growth.

Sterling fell to $1.2370, from $1.2425 just before the decision and was down over 1% on the day. The pound also weakened against the euro to last trade around 83.74 pence compared 83.40 pence earlier.

UK government bond yields fell, with two-year yields last down 6 basis points at 4.08% versus 4.13% just before the rate decision.

London’s blue-chip FTSE and the mid-cap FTSE 250 stock index accelerated their gains and were last up over 1.5% each.

Comments:
Zara Nokes, Global Market Analyst, JP Morgan Asset Management, London:
“With December’s softer-than-expected inflation print having fuelled market expectations for a cut, the Bank of England likely felt it had no other choice today. The distribution of votes showed high conviction in the call, yet this approach is not without risks.

“While economic activity is clearly slowing, inflation pressures are not. Inflation expectations have picked up as a result of higher energy prices, strong wage growth and businesses signalling that they intend to charge higher prices in response to October’s tax hike.

“The growth outlook might also not be as bad as business surveys suggest, with the large increase to public services spending announced in the Autumn Budget likely to provide a tailwind to growth this year, offsetting some of the private sector weakness. Against this backdrop, the Bank must be resolute in its commitment to bring inflation back to target.

“Rate cuts might be popular in the short term but, ultimately, there will be a higher price to pay further down the line if inflation is not stamped out now.”

Zsolt Kohalmi, Deputy CEO & Global Head of Real Estate, Pictet Alternative Advisors, London:
“Interest rates are crucial to the real estate recovery story. UK rates are currently between the U.S., which are higher, and continental Europe, which are lower.
“For a recovery in the UK real estate market to really take place, though, UK rates need to come down significantly and be closer to the European rate curve outlook, rather than the U.S. For now, this is far from certain, but would be a bonus for investors in UK real estate.”

Michael Field, Chief European Strategist, Morning Star, Amsterdam:
“With plentiful equity market opportunities for investors in the UK, we believe further interest rate cuts over the course of 2025 will lighten the load for consumers and businesses alike. This should create a more supportive economic backdrop for commerce generally.”

© Thomson Reuters 2025 All rights reserved.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fashion

Milan Fashion Week announces raft of new names and comebacks

Published

on


Published



February 6, 2025

Milan Fashion Week Women, scheduled from February 23 to March 3, promises to be both intense and festive, with a much-renewed show calendar. A dozen labels will give the week a miss, but their absence will be offset by eight new names, like Fiorucci and K-Way, plus several emerging labels, three comebacks – Giorgio Armani, MSGM and Blumarine – as well as show-events such as Fendi’s, celebrating the Roman label’s centenary, and Dsquared2’s, celebrating the label’s 30th anniversary. Also worth mentioning, the presence of French designer Charles de Vilmorin, who will showcase his collection as part of an exchange project with the Italian Fashion Chamber (CNMI).

Giorgio Armani will return to Milan after showing in New York in October – ©Launchmetrics/spotlight

Fifty-five physical shows (including Emporio and Giorgio Armani both showing twice) are scheduled during the Milan womenswear week, in line with the 55 shows staged last September. In addition, on the week’s closing day, the programme includes six shows in digital format: Tokyo James, Maison Nencioni, Maxivive, Jacob Cohen, Viapiave33, and Neapolitan demi-couture label Saman Loira, for the first time on the Milan calendar. CNMI has listed 153 events in total for this womenswear week, including 65 presentations, 4 invite-only presentations, and 23 special events.

Gucci will kick off proceedings on Tuesday February 25, staging a co-ed show. A formula that many labels have adopted this season, having skipped the menswear week in January. Besides Gucci, the week’s opening day will feature Dsquared2, the label by Dean and Dan Caten, which will close the day with a show and a big party for its 30th anniversary, positioning itself, just for this once, on the womenswear calendar. Also K-Way, which used to show during the winter season’s menswear week only, has moved to the women’s week, and will stage a co-ed show celebrating its 60th anniversary, it too scheduled on the first day.

The same formula for Fendi, which will show the next day, on the evening of February 26, at its headquarters in via Solari. The show will be organised under the supervision of Silvia Venturini Fendi, creative director for the men’s ready-to-wear and accessories collections, who will also design the collection for women’s ready-to-wear, which has been without a creative director since Kim Jones left.

Among the major comebacks on the programme, that of Giorgio Armani, which showed in New York last autumn, and will be back in Milan on Sunday March 2. After skipping a season, Blumarine will make its return on Thursday February 27, under new creative director David Koma. MSGM too will return to the Milanese runways, on Saturday March 1. The label dropped out in September, having decided to show its women’s collection in June alongside menswear, to celebrate its 15th anniversary.

The week will also feature a plethora of new names. The first is Fiorucci, with Francesca Murri in charge of style, which will make its maiden appearance on the official calendar on Saturday March 1, having staged a first off-calendar show last season. Also, there will be plenty of emerging young talent, for example Francesco Murano, 27, with his structured, minimalist silhouettes and sculptural draped looks. Murano grew up near Salerno in southern Italy, alongside an embroiderer grandmother and a seamstress aunt. In 2016, he moved to Milan to study fashion design at the IED academy, and launched his first collection in 2019.

Also from southern Italy, more precisely Calabria, is Giuseppe Di Morabito, 32, who will stage his first-ever Milanese show on February 28. Di Morabito studied at the Istituto Marangoni in Milan, and founded his own label in 2014. His looks are characterised by couture lines, colours, textures, precious materials and sophisticated treatments, for a sexy, contemporary glam style that has won over many celebrities, like Lady Gaga and Zendaya. Di Morabito’s label is distributed via nearly 180 retailers, and in 2023 Italian investment fund Style Capital bought an 80% stake in it, while the eponymous designer still holds the remaining 20%.

Galib Gassanoff, 30, who partnered with Luca Lin for seven years at label Act N°1, parting ways with him in February 2023, is going solo with his new label, Institution, which will show on February 25 and defines itself as a socio-artistic project. Georgia-born Gassanoff, of Azeri language and culture, settled in Milan in 2012 through a scholarship.

Fiorucci is joining Milan Fashion Week’s official calendar this season – ©Launchmetrics/spotlight

On Sunday March 2, Milan will host for the first time Peruvian designer Jorge Luis Salinas, who grew up in Gamarra, home to Peru’s most important textile manufacturing hub. A graduate of the Philadelphia College of Textiles and Science, in 2016 he founded ​​the J. Salinas label, which combines traditional expertise and technological innovation, and collaborates with craft communities in Peru. Chinese designer Susan Fang will show on the same day. She is supported by Dolce & Gabbana, and was included in the calendar last September, but decided to postpone her show to the coming winter session.

Another new feature at Milan Fashion Week will be the first collaboration between CNMI and the French Fashion and Haute Couture Federation (FHCM), aimed at giving greater visibility to one of the associations’ emerging talents. For France, Charles de Vilmorin will present his latest collection in Milan at the Fashion Hub, a space showcasing several creative projects backed by Italian fashion’s institutional bodies. For Italy, Marco Rambaldi, a knitwear specialist who regularly shows in Milan, will have the opportunity to present his work during Paris Fashion Week (scheduled on March 5-11) at Sphère, the showroom managed by FHCM and supported by French public body DEFI.

Among the notable absentees from the upcoming Milan fashion week, a prime name is Bottega Veneta, in the midst of a transition phase following the arrival of new creative director Louise Trotter, who has replaced Matthieu Blazy, now in charge of style at Chanel. She will unveil her first collection next season. Boss, which shows in Milan every other season, will be back in September. Philosophy has dropped out of the calendar, having been subsumed into Alberta Ferretti. The latter’s eponymous designer and founder has retired, ceding her place to Lorenzo Serafini, who used to be in charge of the label’s young line Philosophy, and will present his first Alberta Ferretti collection on Tuesday February 25.

Also not included in the show calendar are: Vietnamese designer Phan Dang Hoang and Chinese designer Mao Bao of the Chiccomao label, which debuted in Milan last season; Tokyo James, which has opted for a video presentation; Federico Cina, The Attico and Andreadamo, three emerging labels which showed in September; and finally, three Milan Fashion Week regulars GCDS, Del Core and Rave Review.

Milan Fashion Week will nevertheless be able to count as always on Italy’s marquee labels: on Wednesday February 26, Jil Sander, Antonio Marras, Marni and Fendi; on Thursday 27, Roberto Cavalli, Etro, Max Mara and Prada; on Friday 28, Moschino, Missoni, with new creative director Alberto Caliri, and Versace, with what is rumoured could be Donatella Versace’s last show; and on Saturday March 1, Dolce & Gabbana and Philipp Plein. Gucci will kickstart the fashion week, and Giorgio Armani will bring it to a close.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Barclays predicts uncertainty for Gucci after De Sarno’s exit

Published

on


By

Ansa

Translated by

Nicola Mira

Published



February 6, 2025

Analysts at UK bank Barclays think the split between Gucci and creative director Sabato De Sarno was “surprising, since the designer only joined the company in 2023,” and that his departure will cause “further disruption and uncertainty at Gucci in the short term,” also because the products designed by De Sarno were still being launched in-store in H2 2024. Hence there is greater risk for the label’s fiscal 2025 profitability.

Gucci – Spring/Summer 2025 – Womenswear – Milan – ©Launchmetrics/spotlight

De Sarno’s departure “could be seen as a small positive for the brand, since a potential new creative director might have a better chance of relaunching the label.” De Sarno’s designs “failed to reignite brand momentum during his short time at Gucci,” said Barclays, mentioning that the Italian designer joined Gucci in January 2023 to replace long-established creative director Alessandro Michele, “whose bold, eccentric aesthetic positively shook up the market and led Gucci to significantly overperform in the 2016-2020 period.”

After De Sarno’s arrival, “[Gucci’s] performance has remained weak so far. 2024 was a very tough year for the label, and we’re forecasting organic growth at 21% and EBIT margin at 20.7%, compared to 33.1% the year before,” concluded Barclays.

Copyright © 2025 ANSA. All rights reserved.



Source link

Continue Reading

Fashion

ParcelLab launches first-ever PPX Maturity Curve for retailers to boost post-purchase experience

Published

on


Published



February 6, 2025

Post-purchase experience software provider parcelLab has launched its “industry’s first” Post Purchase Experience (PPX) Maturity Curve for retailers.

The framework “empowers retailers to discover how they compare to competitors and the strategic methods necessary for them to exceed best practices, build long-term customer loyalty, and drive new revenue”, it said.

With parcelLab’s latest innovation, it said brands can “benchmark against industry peers and truly work toward creating customers for life”. 

The service includes a deep analysis of a company’s current post-purchase experience performance “by detailing steps to advance PPX maturity and evolving current strategies”. These methods assist retailers “to exceed growing customer expectations and increase brand loyalty”.

Zack Hamilton, SVP, Growth Strategy & Enablement at parcelLab, said: “This has been created based on one core belief: the post-purchase experience is pivotal in building long-term customer loyalty and increasing revenue.

“Through our initial analysis of over a thousand brands, we’ve discovered that many are still using tactical, reactive strategies and minimally focusing on personalisation. With this PPX Maturity Curve our team of experts can help organisations build the capabilities to transform mundane operational touchpoints into unique moments of pure joy for their customers.”

He also said the latest development “will see top retail brands learn and share PPX best practices as well as being offered thought leadership insights, networking opportunities, specialised training, and more”.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Trending

Copyright © Miami Select.