By the end of 2024, supermodel Gigi Hadid had opened the second boutique of her Guest In Residence brand in Los Angeles, after New York first store in 2023. Located at 433 North Beverly Drive, a street running parallel to Rodeo Drive, the boutique with its white and blue storefront is part of a landscape of mainstream brands, neighboring Reformation, All Saints, Veronica Beard, Kitson Kids and located one block from the fancy Erewhon grocery store.
The Guest In Residence store facade in Beverly Hills – Guest In Residence
“As we expand to the West Coast, our LA flagship is an ever-evolving canvas to showcase our 100% cashmere,” said Hadid. “Our vision was a space that’s warm and inviting, where our heirloom pieces are effortlessly integrated into the flow and décor. I love how the store captures the feeling of barefoot California luxury, that’s relaxed yet sophisticated at the same time – just like our cashmere.”
The interior design of the 860 square feet boutique is inspired by easy Californian living, fused with the brand’s creative ethos and “classic flunky DNA,” continued Hadid.
The model chose Los Angeles-based Yaoska Interiors, known for collaborating with brands including The Reformation, Staud clothing and swimwear brand Solid & Striped, to design the space.
The space, created as a mountain apartment, combines a palette of warm, organic materials. Textures of natural stone and plaster are juxtaposed with custom fixtures and shelving in carved oak. Cobblestone floors, antique iron sconces and a custom-made fireplace nod to Spanish Revival style, while comfortable, oversized tartan-covered chairs invite guests to converse and relax.
Inside Guest In Residence’s store – Guest In Residence
Inspired by Hadid’s own outdoor holidays in the countryside, the fitting rooms mimic rustic cabins. Built from Douglas Fir wood and carpeted in bright colors, they’re offset by a calming limewash tone called “cashmere” on all walls. Hand-selected studio pottery, vintage pieces and artworks by artist Austyn Weiner add a colorful touch to the space. The store has been eco-designed and favors low-impact materials, including white oak clothes racks, forged metal lighting and antique hardware.
“While designing Guest In Residence’s first store in LA, our vision was to make the space feel as if it’s always been here,” said designer Yaoska Davila, founder of Yaoska Interiors. “We aspired to create an experience like you’re stepping into the home of a creative friend; it’s a deeply personal space, where you might stumble upon a painting studio in the solarium or a rustic wood-working shop in the garden. Shoppers are welcome to fully immerse themselves in this inspiring, unexpected and eclectic brand world.”
Upon its opening, a curated mix of the Fall 2024 and Winter 2024 collections are available for men and women. Both are rooted in the notion of everlasting style, for a seasonless wardrobe that’s timeless and long-lasting. These include hoodies, cable vests and cable shrunken crew in black, grey, green and yellow. There’s also a line of outerwear, including cropped and quilted puffer jackets.
Interior design by Yaoska Interiors at Guest In Residence store in LA – Guest In Residence
The LA store also hosts the brand’s Take-Back program, which allows customers to return gently worn Guest In Residence items to be recycled, in exchange for 10% off their next purchase. The returned items are then sent to Italy’s Re.Verso, a facility that reengineers recovered materials and transforms them into regenerated 100% wool and 100% cashmere. The concept promotes a circular economy and reduces textile waste by keeping yarns in use instead of sending them to a landfill.
“In turn, it lowers impact, saves resources and costs, fosters community involvement, and encourages customers to use their clothes in a more sustainable way,” explained the brand.
The LA store is Guest In Residence’s second freestanding location, joining its flagship at 21 Bond Street in New York City, which was also designed by Yaoska Interiors. The LA store also follows pop-ups in New York, Aspen and at Le Bon Marché in Paris.
Indian Prime Minister Narendra Modi and the European Union have agreed to push for the conclusion of a free trade pact this year, European Commission President Ursula von der Leyen said on Friday.
Reuters
The visit by von der Leyen, accompanied by leaders of EU nations, comes at a time of rising geopolitical tension, with Brussels and New Delhi set to outline key areas for closer cooperation as part of their strategic partnership.
“We are both looking to diversify some of our most critical value chains,” said von der Leyen, who began a two-day visit to India on Thursday. She called for an “ambitious” trade and investment deal that could cover industries from batteries and pharmaceuticals to semiconductors, clean hydrogen and defense.
Talks for an India-EU free trade deal resumed in 2021 after having been stalled for eight years, and now cover issues from investment protection to geographical indications.
The EU is India’s largest trading partner in goods, with two-way trade growing about 90% over a decade to stand at $137.5 billion in fiscal year 2023/24.
Speaking at an event in New Delhi, von der Leyen said troubled times offered great opportunities for partnership between India and the EU. The two leaders had agreed to push to conclude a free trade pact this year, she added.
“We both stand to lose from a world of spheres of influence and isolationism, and we both stand to gain from a world of cooperation and working together,” she said, ahead of talks with Modi.
“But I believe this modern version of great-power competition is also an opportunity for Europe, and India to reimagine its partnership.” The deal had been delayed for many years by New Delhi’s reluctance to lower tariffs in some areas, while the European Union proved reluctant to ease visa curbs on Indian professionals.
The EU wants India to lower tariffs of more than 100% on imported cars, whiskey and wine, while India seeks greater access for its cheaper drugs and chemicals in the EU market.
India also wants lower tariffs on its exports of textiles, garments, and leather products. It also opposes an EU proposal to fix tariffs of 20% to 35% from January 2026 on high-carbon goods, including steel, aluminum and cement.
“It won’t be easy to conclude the free trade talks unless India agrees to drastically cut tariffs on automobiles and other products that could hit domestic industry,” said Ajay Srivastava, of Delhi think-tank Global Trade Initiative.
“The EU would also have to open its markets for Indian products and meet demands on data security and visas,” added India’s former negotiator in EU trade talks.
U.S. President Donald Trump, who has called India one of the countries imposing the highest tariffs, has threatened a reciprocal tariff by April, although India hopes to clinch a deal with Washington.
Three of the world’s largest luxury conglomerates opened just 29 stores in Europe last year, down 20% on 2023 in the latest evidence of a slowdown in the sector.
Bloomberg
LVMH Moët Hennessy Louis Vuitton SE, which owns Christian Dior and Tiffany & Co., opened 15 stores ahead of Richemont at 11 and Kering at only three, said real estate broker Cushman & Wakefield. By contrast, the three companies opened 36 stores in total in 2023.
The slowdown reflects the luxury industry’s choppy recovery from an extraordinary surge in demand after the pandemic, followed by a slump in spending, particularly among Chinese shoppers.
LVMH saw its profit sink last year and Kering’s annual recurring operating income fell by almost half to €2.55 billion ($2.6 billion) — its lowest since 2016. Richemont is faring better recording a double-digit jump in sales in the fourth quarter, amid resilient demand for “hard luxury,” like jewelry among its wealthiest clients.
Luxury precincts
Overall, across all high-end brands, only 83 stores were opened in 12 European countries last year, down from 107 in 2023, although this was also driven by a lack of prime space on the best streets, said Robert Travers, head of EMEA retail at Cushman & Wakefield.
“Luxury retail is arguably the most locationally sensitive of all real estate asset classes,” said Travers.
The 20 main luxury shopping streets surveyed — such as Avenue des Champs-Élysées in Paris and Bond Street, London — had fewer than 10% empty stores last year. Six of them had no vacant space at all. Luxury rents continue to surge and were up 3.6% on average in 2024.
“Retailers have continued to double down on key luxury precincts,” said Travers, but only when they can find the right store on the most exclusive streets, with bigger stores particularly in demand.
Larger shops allow brands to incorporate features like private VIP areas for their richest customers.
There has been a significant increase in high-end retailers asking for bigger stores on London’s Sloane Street, including LVMH’s Dior and Kering’s Bottega Veneta, according to Hugh Seaborn, chief executive officer of Cadogan Estates, which owns a large chunk of the UK capital’s exclusive Chelsea district.
Cadogan Estates completed a £46 million ($58 million) redevelopment of Sloane Street last month, with the vacancy along the road falling from 11% in 2023 to 8% in 2024, according to Cushman & Wakefield’s report.
The important thing for luxury houses is to have their stores in the best locations where consumers can “see a broad, curated mix of complementary brands,” he told Bloomberg News on a call.
Whether Adidas can win more American shoppers from market leader Nike will be key to its continued success this year, investors and analysts said, as the German brand looks for new sources of growth beyond its Samba and Gazelle sneakers.
Reuters
Uncertainty over whether consumer demand in China will recover has driven many brands, including in the luxury sector, to focus more on U.S. shoppers as a growth driver for 2025.
Chief Executive Bjorn Gulden has turned Adidas around since the brand cut ties with rapper Ye and scrapped its lucrative Yeezy sneaker line in October 2022. Shares in Adidas have risen 160% since his appointment was announced the following month.
Investors will expect Gulden to explain how Adidas can keep gaining market share from Nike while also fending off newer sportswear brands like On Running and Hoka when it reports full-year results on March 5.
Nike’s share of the global sportswear market fell to 14.1% last year from 15.2% in 2023, according to GlobalData. Adidas’ market share increased to 8.9% from 8.2%, and other gainers included New Balance, On Running, and Hoka.
UBS analysts said European brands have historically struggled to compete in the United States, and North America has been a laggard for Adidas recently, though they see that changing.
The Germany company’s North American sales, which were down 7% in the third quarter from the previous year, have not fully recovered from the end of its Yeezy line, which was popular in the United States.
Overall, Adidas sales grew 19% in the quarter to December 31, and 12% over 2024 as a whole, while Nike’s sales were down 9% in its latest quarter ending November 30 last year.
“The difference between Adidas and Nike’s growth is huge right now,” said Thomas Jökel, portfolio manager at Union Investment, which holds shares in Adidas.
Adidas’ overall sales should keep growing by at least 10% annually as long as Nike is struggling, said Jökel, adding that the United States and broader North American market is a key battleground.
Adidas has been targeting U.S. consumers, recently launching an apparel and shoe collaboration it said was inspired by “collegiate Americana” with Los Angeles-based label Sporty & Rich, and a new Superstar 92 sneaker with American musician and designer Pharrell Williams.
Its recent athlete signings include Women’s NBA player Satou Sabally and college football player Travis Hunter.
“Adidas is making strong market share gains in the U.S. in direct-to-consumer and sporting goods retail, driven by the Terrace franchise