Fendi feted its century of existence in style Wednesday with a great and often beguiling collection designed by Silvia Fendi, a granddaughter of the brand’s founders.
Though launched and still based in Rome, the show was staged in Milan, in Fendi’s north Italian headquarters with considerable style.
Sarah Jessica Parker, Hailee Steinfeld, Ashley Park and Philippine Leroy-Beaulieu sat front row, joining Sean Paul who later performed a set inside the soaring south Milan space. Redone in thick pile banquettes to host this collection, which smartly riffed on some Fendi classics even as it broke new ground.
Founded in 1925 by Adele and Edoardo Fendi as a fur and leather shop, which quickly became a destination for sophisticated shoppers. All the way to the post-war Dolce Vita era when international movie stars shooting in Rome’s Cinecittà film studios began discovering the brand.
A second generation of Fendi five sisters, each with 20%, owned and skillfully developed the brand, hiring Karl Lagerfeld to guide its fashion creation in 1965.
Fendi is most celebrated for its remarkable exotic fur, though Silvia turned a new page with a series of great shearling coats and stoles made to look like fox, mink and sable, but were not.
The cast appearing out of a towering double door – made to resemble the entrance to the brand’s historic boutique and salon on Via Borgognona. The first look, a flawless flared coat worn as a dress – with funnel collar and waist cinched with a gold belt. Silvia also showed some marvelous tubular leather coats and beautiful double face cashmere redingotes.
Worn by a cast of young hopefuls and famed veterans: Eva Herzigova in an accordion pleat silk cocktail; Edie Campbell in a strass-encrusted tweed cocoon coat; or Natasha Poly in a dazzling metallic skirt and cashmere cardigan. Before Silvia sent the atelier into overdrive with chevron and zig zag mink coats that reeked rich.
Today, Fendi is part of the luxury empire of LVMH, though its creation is still family driven by the third generation Silvia.
“I didn’t want to spend too much time dwelling on the physical archives. For me, Fendi 100 is more about my personal memories – real or imagined – of what Fendi was and what Fendi means today,” explained Silvia.
While the fourth generation Delfina Delettrez Fendi dreamed up the jewelry for this show – fur-like textures, from snake chain collars to chandelier ‘fountain’ earrings. With sterling silver obelisk pendants and FF ball chain necklaces for men in a co-ed show. Delfina’s two seven-year-old twins Dardo and Tarzio even kicked off the action by opening the huge doors, a fifth generation playing a charming role.
The pair dressed in replicas of an equestrian look originally designed by Karl. Talk about blending the past with the present.
Value fashion and lifestyle retail giant will complete rolling out its Click & Collect service to all 186 stores across the UK for summer, months ahead of schedule. Eighteen new stores are set to go C&C live from today (26 February) taking the total number of Primark stores to 131 across England and Wales, almost three-quarters of its UK estate.
And as the rollout continues, Primark said “thousands more products” will be available to shoppers for the first time, including women’s, men’s, kids and homewares, as well as the retailer’s new adaptive clothing range launched last month.
Although the retailer continues to avoid selling goods online, its customers can browse and order on its website before picking up their items in store from two days later.
Kari Rodgers, UK Retail director, said: “We know that our customers love the convenience that Click & Collect offers, as well as the opportunity to access ranges otherwise only found in larger stores. With the roll out now due to complete in time for summer we hope this will help make summer holiday shopping that little bit easier.”
Meanwhile, Primark said independent research conducted by Public First claims the retailer now contributes £2.6 billion to the UK economy and supports 54,000 jobs across the country.
Additionally, it said 2.3 million people cite Primark as the main reason for visiting their high street each week, with every £10 spent at a Primark store also generating an additional £3.60 for the high street. “This means Primark supports around £1 billion of spending in other stores and £500 million in restaurants each year”, it noted.
Scottish “accessible luxury” brand Strathberry has opened its fourth store. The new Victoria Street, Edinburgh, store becomes the handbag-centric brand’s second location in the city, adding to its Multrees Walk store, which opened in 2020.
Embracing the listed property’s architectural features, the store also includes its Strathberry Lounge, decorated with a selection of curated books, decorative and locally sourced objects, “conveying a sense of home and warmth”.
Inspired by art and culture, Strathberry’s design features bespoke wall art as part of is ongoing collaboration with local Scottish artists and craftspeople. It includes local artist Hayley McCrirrick’s commission to create artwork inspired by the colourways of the brand’s signature styles.
Founded by husband-and-wife team Guy and Leeanne Hundleby in 2013, they describe the new store as “exuding a contemporary yet heartfelt charm” while complementing the original store on Multrees Walk and London stores on Burlington Arcade and in Covent Garden.
The expanding business, which is expected to deliver a new set of accounts in April, has a track record for growing sales and profits. Accounts filed for the year ended last April showed an increase in turnover and rises in all measures of profit. Then, turnover increased to £26.88 million from £17.382 million in the previous 12 months. And despite the cost of sales increasing by almost £5 million and admin expenses rising by more than £2 million, gross profit was up to £15 million from £10.28 million and operating profit increased to just short of £3 million from £1.36 million.
American footwear brand Steve Madden announced on Wednesday a 15.2% increase in 2024 full-year revenue to $2,282.9 million, following a double-digit jump in wholesale revenues in the fourth quarter.
Steve Madden reports 15% revenue surge in 2024. – Steve Madden
The Long Island City, New York-based company said fourth quarter revenue increased 12% to $582.3 million, backed by a 13.6% increase in its wholesale business. Wholesale footwear revenue increased 1%, while wholesale accessories and apparel revenue increased 35.4%.
In the quarter, direct-to-consumer revenue was $176.0 million, an 8.4% increase compared to the fourth quarter of 2023, driven by increases in both the brick-and-mortar and e-commerce businesses.
Profit as a percentage of direct-to-consumer revenue was relatively flat at 62%, compared to 62.7% in the fourth quarter of 2023, driven by an increase in promotional activity.
“We are pleased to have delivered earnings results at the high end of our guidance range for the fourth quarter and full year 2024. For the year, revenue grew 15% and Adjusted diluted EPS increased 9% compared to 2023,” said Edward Rosenfeld, chairman and chief executive officer.
“Our strong performance in 2024 was driven by our team’s disciplined execution of our key strategic initiatives, with robust gains in international markets, non-footwear categories and direct-to-consumer channels, as well as a return to revenue growth in our U.S. wholesale footwear business.”
Earlier this month, Steve Madden announced plans to buy UK-based luxury brand Kurt Geiger in an all-cash deal valued at $360.09 million, expanding its presence in international markets.
For 2025, the company expects revenue will increase 17% to 19% compared to 2024. Diluted EPS is expected to be in the range of $2.30 to $2.40, assuming the Kurt Geiger acquisition closes on May 1, 2025.
“Looking ahead, we are cautious on the near-term outlook, as we face meaningful headwinds in 2025, most notably the impact of new tariffs on goods imported into the United States. That said, we have a proven ability to navigate difficult market conditions with our agile business model, and we are set to add a powerful new growth engine to the company with the pending acquisition of Kurt Geiger, which we expect to close in the second quarter of 2025,” added Rosenfeld.