Formula One’s showcase Monaco Grand Prix will have a title sponsor, TAG Heuer, for the first time in nearly 100 years as a result of the sport’s new partnership with French luxury giant LVMH.
TAG Heuer Carrera Tourbillon Chronograph x Senna – Divulgação
The watch brand, which has replaced Rolex as Formula One’s official timekeeper, has been a partner of the Automobile Club de Monaco since 2011.
The Monaco Grand Prix has, since the start of the championship in 1950, had no title sponsor but this year will be officially branded the Formula One TAG Heuer Grand Prix de Monaco. The first edition of the race in the Mediterranean principality was held in 1929, before the days of title sponsorship.
LVMH is starting a 10-year deal with Formula One while the Monaco Grand Prix’s current contract runs to 2031.
Intimates and apparel manufacturer and marketer Delta Galil Industries, Ltd. reported record full year sales of $2.05 billion on Tuesday, on the back of a strong fourth quarter.
Delta Galil reports record $2 billion sales in 2024. – Delta Galil
The Tel Aviv, Israel-based company, which owns labels such as 7 For All Mankind, Schiesser and Eminence, and holds licenses for brands including Wilson, Columbia and Tommy Hilfiger, said fourth quarter sales increased 18% to $599.2 million, driven by growth in all segments, channels and geographies.
For the fourth quarter and year ended December 31, online sales of the company’s brands increased 22% and 21%, respectively.
Net income in the fourth quarter of 2024 was $29.5 million, compared to $37.8 million in the same period last year. Diluted earnings per share, increased 9% to $1.43 in the fourth quarter of 2024 compared to $1.31.
Net income in the full year 2024 increased 11% to $94.6 million, compared to $85.3 million in 2023. Diluted earnings per share, increased 18% to $3.82 compared to $3.25 in the same period last year.
“Delta’s strong fourth quarter financial results produced a record year of sales and robust profitability, reflecting our team’s resilience, creativity, and dedication inachieving excellent results,” said Isaac Dabah, CEO of Delta Galil.
“For the full year, I am proud to report that we exceeded our 2024 sales and EBITDA guidance, as we grew sales by 10% to over $2.0 billion, produced a record gross margin of 41.9% and expanded net income by 18% to $109 million. This performance generated strong operating cash flow excluding IFRS 16 of $153 million for the full year 2024. Strong profitability and operating cash flow also allowed us to return a record $33 million of dividends back to our shareholders, a 24% increase over the prior year.”
Looking ahead, the company expects 2025 full year sales to jump 4% to 6% reaching $2,118 to $2,165 million.
Shopify posted its best quarterly revenue growth in three years on Tuesday, as healthy consumer spending and the e-commerce company’s efforts to load its platform with AI features for sellers helped drive strong holiday sales.
Reuters
The Canadian company’s shares, however, were down about 2% in early trading as investors fretted over its weaker-than-expected current-quarter profit forecast.
Shopify has been investing heavily in building out AI-based tools that help its merchants with tasks ranging from image generation to inventory management, offering its ‘Shopify Magic’ suite of AI features across all subscription tiers for free.
Coupled with strong consumer spending online over the holiday season, the AI initiatives helped Shopify attract hundreds of merchants and also drove its revenue 31% higher from a year earlier to $2.81 billion in the fourth quarter, above analysts’ estimates of $2.73 billion according to data compiled by LSEG.
But Shopify’s investments into tech and expansion along with its partnership with companies such as PayPal are causing worries around margin growth. The company saw higher cloud and infrastructure hosting costs in the fourth quarter, CFO Jeff Hoffmeister said on a post-earnings call.
While the cost increase is not expected to have as much of an impact in the coming quarters, the company plans to invest heavily in research and development, marketing and into expansion in newer markets, Hoffmeister added.
Shopify expects gross profit dollars to grow at a low-twenties percentage rate in the current quarter, weaker than the 24.2% growth expected by analysts according to Visible Alpha.
“Investors may be pausing because of the profitability guidance… Shopify has been able to grow margins very substantially the last couple of years and investors want to make sure that there’s not any backsliding,” said D.A. Davidson analyst Gil Luria.
Shopify’s outlook for operating expense as a percentage of revenue to be 41% to 42% was also higher than expectations, Luria added.
As DEI initiatives face rollback during the Trump 2.0 era, any brand or company that may have benefited from them and prevails is a sign of hope. Women are among the many minorities who could use that extra support; thus, recognizing their efforts is in order. Two female-led brands, Kallmeyer and Kate Barton, ended NYFW on an inspiring note.
Kallmeyer
“The Kallmeyer woman doesn’t demand attention; she introduces herself,” said Daniela Kallmeyer, speaking to FashionNetwork.com backstage pre-show at the Bortolami Gallery in Tribeca. Judging by the brand’s growing momentum since its founding in 2012, plenty of women are eager to meet her. The New York season was nothing if not about simple, easy-to-digest clothes made from rich fabrics, rooted in tailoring with a feminine side (to wit, Veronica Leoni at Calvin Klein, Frances Howie at Fforme, Brandon Maxwell, and TWP subscribe in one way or another). It’s been at the core of who Kallmeyer is since day one.
Timeless elegance—Kallmeyer’s fluid draping and soft textures define modern femininity – Photographer Credit: GoRunway
“The Kallmeyer is like every woman; this collection is where you see the breadth of this happening. We have the casual quintessential ties for the past five years, the boxy blazers, and new tailoring silhouettes mixed with new techniques. For the last few seasons, we have been developing more drapey and gestural silhouettes,” she explained.
For that, she focused on a word for the season: “Sublime” (show notes included this definition: ‘lofty, grand, or exalted in thought, expression, or manner. b.: of outstanding spiritual, intellectual, or moral worth. c.: tending to inspire awe usually because of elevated quality’ as its design beacon. “You’ll see the word expressed in the sound the show makes, the feeling, and the models’ walk. The world is full of chaos, and I wanted to create a moment where we could slow down and focus on the craft because we still want to honor art,” she continued.
The sparse art gallery show space with sheer panels hanging from the ceiling set the stage for pianist Marta Sanchez to put the show to live music, creating the serene ambiance that aided in the gentle mood expressed by the clothes. For tailored day styles, the mood was expressed through pieces like a sleeveless jacket draped loosely and buttoned slightly askew, paired with wide-leg trousers. A brown cotton poplin shirt, unbuttoned to the waist, was styled with relaxed trousers and a soft plaid sash belt.
Sharp tailoring meets relaxed draping in Kallmeyer’s sleeveless jacket and wide-leg trousers – Photographer Credit: GoRunway
Another look featured a boxy houndstooth check jacket, buttoned only at the collar, with a coordinating shawl slung over one shoulder. A standout shawl moment came in woven leather fringe, sweeping across the collarbone and adding a louche attitude to a black suit. The designer further developed the looser, drapery mood with some occasion pieces. A high-slit skirt that cocooned around the leg like an upside-down Calla Lily was romantic versus vulgar, a cascading draped collar was featured on several tops, and a bias-cut slinky long dress bared one shoulder without being overly asymmetrical. Two great pieces of outerwear, a belted bathrobe coat and a smart leather trench worn by actress Sarita Choudhury, fit the retail hit button.
A structured leather trench takes center stage, blending power and sophistication in Kallmeyer’s collection – Photographer Credit: GoRunway
Added details like leather fringe phone cases and custom-made loafers by Portuguese shoe brand Calçado Penha (APICCAPS) and Fiametta, a queer-woman-founded, ethical fine jewelry brand, added subtle bling.
“There are really bold pieces that are strong and know who they are but also have a kindness and softness to them,” Kallmeyer furthered, adding, “The matriarchs of my family inspired the way I think about dressing, who I am in the world and how I enter the room. I wanted the body to be the canvas for the clothes; you, as the wearer, are the inspiration for the pieces; the pieces are not telling you who to be, just a way to more yourself.”
Kate Barton
The latest NYFW showcased several new approaches—one of them being that a runway isn’t the only way to introduce a collection. Like several young designers, Kate Barton pivoted away from the runway this season to host press one-on-one in a showroom. Rather than allocating precious funds to a full-scale show, Barton enlisted friends like Winnie Harlow, Dee Hilfiger, WNBA player Kysre Gondrezick, and ballerina Violetta Komyshan to star in her fall campaign, highlighting its practicality. This approach was also seen at Jonathan Cohen—could it be an emerging marketing trend?
Winnie Harlow stuns in a futuristic metallic breastplate—Kate Barton’s signature sculpted technique – Courtesy of Kate Barton
This was on display as Barton—whose signatures include a patented sculpting technique that helped create her signature ‘breastplate’ detail, drape garments using one seam for less waste, and bonded fabrics with liquid shine—walked the press through her new collection, which aims to show its versatility.
Kate Barton’s architectural approach transforms classic silhouettes into sculptural masterpieces – Courtesy of Kate Barton
“For fall, I wanted to bring big ideas into a more accessible way, like the things I want to wear every day but still feel unique and interesting,” Barton explained. While her spring show shown last fall veered on occasion dressing and skewed towards a younger, more experimental crowd, fall offered everyday items such as a grey cashmere sweater with a signature ‘gathered’ detail, a cotton tailored shirt with the same technique and a riff on a classic pinstripe suit with barrel arm and leg effects. Jersey dressing was also added to the mix.
A soft gathered knit meets a statement sequin skirt—Barton’s take on everyday glamour – Courtesy of Kate Barton
That didn’t mean Barton abandoned her going out pieces. To add to her liquid-effect fabric repertoire, she added sequin items that, as seen on Hilfiger, are easily day-to-night items. Robe-à-l’anglaise-inspired dresses took one of Barton’s ideas from last season and furthered it to a more demonstrative effect.
Fluid sequins redefine eveningwear in Kate Barton’s avant-garde aesthetic. – Courtesy of Kate Barton
Giving her client wearable items didn’t mean she skipped on the more avant-garde ideas; a patched leather Moto featured her silver dagger details, now made with bonded leather. Another look used the shiny metallic-like material on a skimpy bandeau and flirty miniskirt look that appeared in a windswept position. Peppered throughout were simple knits with trompe l’oeil heat transfer designs that harken back to other details in the collection, such as the moto jacket. It’s a smart move for more entry-level items in the advanced contemporary collection. Some pieces will be available online as Barton’s collection debuted on Amazon Fashion. It’s a clever tie-up for a young designer needing financing—ditto the Goldfish deal—as it could help foster buys from the online behemoth’s new partners, Neiman Marcus and Saks.