Renzo Rosso, chairman of parent company OTB hailed his talent after having worked with him for a number of years in his role as Diesel creative chief.
It means he steps into the hotseat previously occupied by two of the fashion world’s most influential designers — the notoriously publicity-shy house founder Martin Margiela and more recently the sometimes-too-publicity-hungry John Galliano — and there’s a clear opportunity to reshape the label in his own image.
Margiela established his label as minimalist with a twist, while Galliano moved it towards more of an extravagant positioning, and there’s a chance Martens could shift it back to the quirky ‘Antwerp style’ for which it was known under Margiela. But the couture element will remain.
Rosso highlighted how Martens studied at Antwerp’s Royal Academy of Fine Arts and “like Martin, has already shown his prowess and his vision in couture”.
Martens himself didn’t give any clues, simply saying that he’s “extremely honoured to join the amazing Maison Margiela, a truly unique house that has been inspiring the world for decades. And I thank Renzo for the trust he is putting in me”.
Martens has a powerful track record and once worked with Jean Paul Gaultier. He creatively led the now-defunct Y/Project but left after 11 years in September last year. He remains creative director of OTB’s Diesel label, his CV showing his skill at both a higher-end designer level and a more premium commercial one.
In an interview last year, Rosso praised him both for his couture sensibility and ability to tell a story with each individual piece he creates.
OTB has held a controlling stake in Margiela since 2002 and after the founder stepped back in 2009 the label was designed by a collective team. Galliano was appointed in 2014, with Rosso helping him back to the fashion spotlight after his infamous Paris cafe meltdown and his resulting exit from Dior.
He justified Rosso’s faith with a series of well-received collections and his spring 2024 Maison Margiela Artisanal couture offer was one of last year’s most praised collections.
Martens meanwhile joined Diesel in 2020 and has been widely praised for his work there, helping it both aesthetically and commercially with sales having risen strongly, particularly among the key younger demographics.
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.
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.
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.
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.
Spanish fashion and fragrance company Puig reported a 14.3% rise in fourth-quarter sales on Thursday, beating analyst expectations for the key holiday period.
The Barcelona-based company behind perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier said net sales for the three months to Dec. 31 were 1.36 billion euros ($1.42 billion), above the 1.30 billion euro average forecast from analysts polled by LSEG.
Puig, which generates most of its revenue from fragrance sales, is heavily reliant on the holiday season, with analysts estimating that nearly half of its prestige perfumes are sold in the quarter that includes Black Friday and Christmas.
The company, which also owns luxury skincare and make-up brands Byredo and Charlotte Tilbury, said full-year sales reached 4.79 billion euros ($4.99 billion), up 11% from 2023, surpassing its goal of increasing sales faster than the 6-7% forecast for the global premium beauty market.
The average of analyst estimates was for sales of 4.72 billion euros in 2024, given that it is less exposed to sluggish demand in China and that more than half of Puig’s revenue comes from Europe, the Middle East and Africa while 18% comes from the United States.
The 2024 performance of larger rivals such as Estee Lauder and L’Oreal was hampered by muted demand from China, where a property crisis and high youth unemployment have curbed consumer spending.
Puig said sales in its core fragrance and fashion business grew by 21% in the holiday quarter.
Sales in the make-up division fell 7.2%, with its Charlotte Tilbury brand affected by a voluntary withdrawal of select batches of Airbrush Flawless Setting Spray in December over what Puig described as “an isolated quality issue in a limited number of batches” detected during routine product testing.