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Dries Van Noten to open in London’s Mayfair

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January 28, 2025

The UK is to finally get a directly-operated Dries Van Noten store with the high-end label set to open a flagship in London’s Mayfair after signing a 10-year lease for a space on Hanover Square.

Dries Van Noten – Spring-Summer2025 – Womenswear – France – Paris – ©Launchmetrics/spotlight

The Puig-owned brand is stocked in several of the city’s leading department stores (such as Selfridges, Liberty and Harvey Nichols) but until now hasn’t had its own London store. It has flagships in other key shopping cities including Paris, LA, Tokyo and Antwerp. It opened its third Paris store less than two years ago as it expanded its beauty offer.

The new London store — the opening date of which isn’t yet known — should be able to replicate the more immersive and personalised experience that those other flagships offer.

The London flagship will be in a space that was formerly a Barclays Bank and will retain many of its historical features, while adding the kind of contemporary edge we’d expect from the label.

Mayfair — from Old Bond Street and New Bond Street to more discreet luxury enclaves such as Mount Street — is a magnet for high-end fashion brands and the pace of openings has accelerated as London has bounced back from the devastation of the pandemic. 

Hanover Square is a key location given its position between Regent Street and Bond Street and an appealing one for retailers looking to reach a high-end customer base. It’s seen a lot of development in recent years and is becoming increasingly shopping-focused having previously been more about banks, offices (like Vogue‘s former UK HQ) and galleries than luxury stores.

It’s a time of big change for Dries Van Noten too, the label’s founder having recently handed over the reins of the label to protégé Julian Klausner. His first solo womenswear collection will be show in Paris in March.

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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.

© Thomson Reuters 2025 All rights reserved.



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

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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.

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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.

© Thomson Reuters 2025 All rights reserved.



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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.
 

© Thomson Reuters 2025 All rights reserved.



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