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Benjamin Cercio takes charge of communication via his own agency

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Nicola Mira

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January 10, 2025

As always, luxury labels like to play a game of musical chairs. At the end of 2024, Valérie Leberichel left Givenchy, where she held the post of vice-president in charge of global communication, to take on a similar role at Gucci. Earlier in 2024, Benjamin Cercio stepped down from his role as communication director at the Kering-owned Italian house to set up Bencercio, his own communication and brand strategy consulting agency, which has now been put in charge of global communication for Givenchy, the label told FashionNetwork.com.

Benjamin Cercio – Gucci

Through Bencercio, and while continuing to take care of his other clients, Cercio will oversee the brand image, public relations, events, digital, visual merchandising, and heritage departments for the Parisian label worldwide, with the aim of strengthening Givenchy’s global presence and its brand identity. Cercio will be working closely with Givenchy CEO Alessandro Valenti and Creative Director Sarah Burton.

This is a crucial time for LVMH-owned Givenchy. In March, the label will unveil the first collection by new designer Burton who, having worked for her entire career at Kering’s Alexander McQueen, until October 2023, joined Givenchy in September 2024, taking up the position vacated nine months earlier by US designer Matthew M. Williams. Givenchy is set to start a brand-new chapter as it relaunches under Burton’s aegis, accompanied by a thorough image overhaul.

Cercio is extremely familiar with the LVMH group. He effectively came of age at Louis Vuitton, where he worked for 19 years, taking on increasingly senior roles. He was named global head of relations with the press, influencers and the entertainment industry in 2018, a few weeks after Virgil Abloh was appointed creative director of men’s ready-to-wear. In November 2022, he moved to the competition, at Kering, joining Italian luxury label Gucci as global communication director.
 

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Fashion

Hoka-parent Deckers Outdoor’s forecast disappoints despite solid holiday quarter

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January 31, 2025

Deckers Outdoor on Thursday beat third-quarter sales estimates on robust holiday demand for its Hoka running shoes, but an in-line annual forecast caused the footwear maker’s shares to tumble 17% in extended trading.

Ugg

Hoka shoes with their oversized soles have been gaining market share from brands such as Nike in the sportswear category. The brand, which retails for up to $300 in the United States, have also enjoyed full-price sales.

This drove up the company’s third-quarter revenue by 17% to $1.83 billion, beating analysts’ average estimate of $1.73 billion, according to data compiled by LSEG. Deckers also raised its annual net sales forecast for a second time this year.

“The guidance looks pretty conservative and considering the beat, it’s bit of a negative read into the out quarter,” said Drake MacFarlane, analyst at MScience.

The popularity of the Hoka shoes and the success of the company’s Ugg boots and sandals has helped it post double-digit revenue growth for nearly seven quarters.

The company now expects annual net sales to increase about 15% to $4.9 billion, compared with its prior expectation of about 12% growth to $4.8 billion. Analysts estimated an increase of 14.9% to $4.93 billion.

Deckers expects annual earnings per share of $5.75 to $5.80, compared with its prior forecast of $5.15 to $5.25.

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Amazon ramps up ad spending on Elon Musk’s X, WSJ reports

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Reuters

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January 31, 2025

Amazon.com is increasing its advertising on billionaire Elon Musk’s social media platform X, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Reuters

The major shift comes after the e-commerce giant withdrew much of its advertising from the platform more than a year ago due to concerns over hate speech.

In 2023, Apple also pulled all of its advertising from X and has recently been in discussions about testing ads on the platform, the report said.

Several ad agencies, tech and media companies had also suspended advertising on X following Musk’s endorsement of an antisemitic post that falsely accused members of the Jewish community of inciting hatred against white people.

Monthly U.S. ad revenue at social media platform X has declined by at least 55% year-over-year each month since Musk bought the company, formerly known as Twitter, in October 2022. He had acknowledged that an extended boycott by advertisers could bankrupt X.

Musk has become one of the most influential figures following President Donald Trump‘s re-election. He now leads the Department of Government Efficiency, which aims to cut $2 trillion in government spending.

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Ferragamo’s sales down 4% in fourth quarter, sees “encouraging results”

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January 31, 2025

Italian luxury goods group Salvatore Ferragamo said on Thursday its revenue dropped by 4% at constant currencies in the fourth quarter, flagging “encouraging results” from its direct-to-consumer sales which were overall flat in the last three months of the year.

Ferragamo – Spring-Summer2025 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

Sales in the North American region, which accounted for 29% of total revenue, were up 6.3% in the quarter.
However, the Asia Pacific area saw a 25% drop in revenue at constant exchange rates.

The slowdown in global demand for luxury goods, especially in China, has made the group’s turnaround harder.
Overall preliminary revenues reached 1.03 billion euros in 2024, in line with analysts’ estimates, according to an LSEG consensus.

“January shows an acceleration in our DTC channel’s growth, albeit supported by the different timing of the Chinese New Year and a favourable comparison base versus last year”, Chief Executive Marco Gobbetti said in a statement.
 

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