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Trump’s tariff threats hang over young Arnault’s mission to fix LVMH drinks unit

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February 4, 2025

Alexandre Arnault is taking a key role at LVMH‘s $6 billion wine and spirits business just as U.S. President Donald Trump risks unleashing a trade war, complicating a turnaround effort that could decide the 32-year-old’s future in his father’s empire.

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The alcohol division, whose brands include Moët & Chandon champagne and Hennessy cognac, has seen its revenues fall for two straight years and its operating profit plunge by over a third in 2024.

Its challenges are only likely to get tougher if Trump’s newly-imposed tariffs on China add to an economic slowdown there, and if he follows through on threatened levies on Europe.

Alexandre Arnault, one of LVMH CEO Bernard Arnault‘s five children vying for more responsibility in their father’s empire, told Reuters he needed a few months to draw up a plan.

“Give us 100 days to wrap our heads around it and understand the business … because it’s a business that will need a lot of restructuring,” he said on the sidelines of the group’s annual results last week.

The United States is the wine and spirit unit’s largest market by sales, with just over a third of its high-end cognac and champagne sold there. Accounting for less than 10% of LVMH group sales, the unit is vulnerable to trade tensions. 

Trade data shows LVMH’s cognac business increased deliveries to the U.S. in December as distributors built up inventories.
France’s luxury groups were hit in Trump’s first presidential term when he targeted champagne and handbags over a French digital services tax he decided would harm U.S. firms.  

“Whilst we continue to believe that the U.S. spirits market will recover further, tariffs bring short-term uncertainty,” Barclays wrote in a note on Tuesday.

Bernard Arnault and members of his family have cultivated personal ties with Trump. Bernard, his wife Helene Mercier, Alexandre, and daughter Delphine, who runs Dior, sat right behind America’s former presidents at Trump’s inauguration. 
Praising a “wind of optimism” in the United States, Bernard Arnault said last week that LVMH was looking at raising production capacity there.    

Alexandre took over as deputy CEO of the alcohol unit on Monday, alongside long-time LVMH finance chief Jean-Jacques Guiony, an industry veteran. Alexandre marked the change on his Instagram account with a post showing he was heading to one of LVMH’s grand cru estates in Burgundy. 

Shedding parts of the struggling business was “not on the agenda”, Bernard Arnault said last week in response to recent speculation LVMH could revisit its ties to Diageo, which holds a minority stake in the drinks division. He said he would keep a close eye on the next moves from his son and Guiony. 

“I’m sure they’ll get everything back on the growth track. Let’s give them two years to show what they can do,” Bernard Arnault, 75, said. 

Alexandre is expected to draw on his experience from previous executive roles at German suitcase maker Rimowa and U.S. jeweller Tiffany & Co, where his missions were to revive somewhat ageing brands, freshly acquired by LVMH. 

At Tiffany, he grabbed headlines with a buzzy ad campaign featuring Beyonce and Jay-Z while shaking up the nearly 200-year-old brand’s image with a controversial new slogan: “Not Your Mother’s Tiffany”. The brand’s end-of-year performance showed some signs of improvement, analysts said.   

LVMH has struggled to find growth in its high-end wine and spirits after several years of high inflation in Western economies and as younger drinkers shift to mixed and non-alcoholic drinks.

“It’s a business with less growth expectations than other parts of the company, the difficulties are here to stay”, Barclays analyst Carole Madjo told Reuters. 

© Thomson Reuters 2025 All rights reserved.



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Louis Vuitton names Tyshawn Jones as brand ambassador

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February 4, 2025

Louis Vuitton announced on Tuesday Tyshawn Jones, a celebrated figure in the world of skateboarding, as a “friend of the house”.

Louis Vuitton named Tyshawn Jones, a celebrated figure in the world of skateboarding, as a “Friend of the House”. – Louis Vuitton

Born and raised in New York City, Jones is regarded as one of the most influential skateboarders of his generation. He was awarded the Skater of the Year title in both 2018 and 2022, and is recognized for his ability to seamlessly blend skateboarding culture with his personal style. 

The partnership was cemented when Tyshawn Jones attended the Louis Vuitton men’s Fall-Winter 2025 show as a guest of creative director and friend Pharrell Williams. Pharrell, who has long admired Jones for his contributions to both skate culture and streetwear, shares a deep connection to skateboarding. 

Louis Vuitton’s ties to skateboarding date back to the tenure of former men’s artistic director Virgil Abloh, who embraced the skateboarding community through collaborations and inspired designs. 

In November, Louis Vuitton named actor Callum Turner as a brand ambassador, joining other individuals including football star Jude Bellingham, Korean music superstar, Lisa, and rapper Pusha T, who are all ambassadors of the French luxury maison.

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Marc Jacobs shows off-schedule ahead of New York Fashion Week

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February 4, 2025

Marc Jacobs has always been a highlight of New York Fashion Week; like his iconic Park Avenue and Lexington Avenue armory spectacles that were once famously late, and then became promptly punctual.

Marc Jacobs – Spring-Summer2025 – Womenswear – Etats-Unis – New York – ©Launchmetrics/spotlight

One show followed by a party for the debut of his first perfume on the waterfront was a magical New York evening on September 10, 2001. It was an ironic highpoint for the city, followed by hell on Earth the next morning.

During the aughties, the Marc Jacobs brand blossomed to include Marc by Marc Jacobs for men and women, a kid’s line, a bookstore, and more. Today, his iconic tongue-in-cheek ‘labeled’ leather goods sell like hotcakes worldwide.

The designer has always had a cheeky side and pays homage to his unique vision. Since debuting his collection shows to a “see now, buy now” schedule post-Covid, Marc Jacobs has helped bring back the kind of fashion excitement and awe that, frankly, is lacking in New York at the moment.

It was also a New York moment for his iconic guests who attended Marc Jacobs’ latest show at New York’s public library, such as Tracee Ellis Ross, Lisa Rinna, Nicky Hilton, Bowen Yang, Jessie Reyes, Anna Sui, and one of the strongest line-ups of the fashion industry who’s who that not every show here commands.

Yang was a delightful surprise as one of the show attendees. The “Saturday Night Live” star told FashionNetwork.com why Marc Jacobs was the first New York fashion show he ever attended.

“I never said ‘yes’ as I didn’t have the time or feel super connected to that brand. But when I first moved to New York City, I was flipping through a magazine at Barnes & Noble right near here and seeing Marc in the Bang perfume spread, which was so aspirational. He had the SpongeBob tattoo, he was so naked and the coolest person on this planet, so this feels like a fitting seal break for me to come to fashion week,” Yang said, noting the show was also inspirational for some of his skits, which often involve spoofing fashion, “Those boots…” he added.

Marc Jacobs – Spring-Summer2025 – Womenswear – Etats-Unis – New York – ©Launchmetrics/spotlight

Part of the charm of Jacobs’ newest designs is the superb mix of chic, cubic content, and cartoon inspiration. The designer started going big about a year ago, in a show where he returned to the Park Avenue armory (though he has mainly chosen the New York Public Library, of late) with a collection that introduced gigantic proportions. Last July,  Jacobs built on that idea with clothes with a paper doll effect, almost comically restrictive for movement, but very cool.

Many of Marc’s girls at this show were in their own doll-faced looks, demonstrating their wearability. It’s not a look for everyone, according to the internet; frankly, it takes confidence and courage to pull it off. Jacobs addressed the idea of courage in his show notes, saying with heart, humility, and gratitude, he has embraced fear as a friend, not a foe. He added that it’s a “necessary companion to creativity, authenticity, integrity, and life.”

Jacobs continued, perhaps in a double entendre, to refer to the suffice-it-to-say strange times we live in. “With precious freedom, we dream and imagine without limitation, daring to be vulnerable in the face of criticism and failure, not to escape from reality but to help navigate, understand, and confront it—exploring through curiosity, conviction, compassion, and love.”

Set to Philip Glass’s progressive opera, “Einstein on the Beach: Knee Play 5,” Jacobs explored his proportion exercise by creating bulbous silhouettes, pointed volume in lieu of curves, origami-esque shapes, especially on skirts, padded large bows and extreme-shape footwear.

The shrunken sweaters and jackets, the squared-hip paints, the puffy cinched waist trench, and jaguar print coats, the group of red bow evening looks at the finales and the saccharine nightgown trapeze-shaped dress were desirable and viable, commercially speaking.

The collection challenges an embrace of proportions, and while, at first, it could be described as jarring, one will eventually see it as the norm. Sound familiar? If that isn’t an analogy of fashion as a reflection of society, then nothing is.

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Perfect Moment bolsters management with former Canada Goose execs

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February 4, 2025

​Luxury skiwear brand Perfect Moment announced on Monday several leadership changes, as the London-headquartered firm looks to strengthen its management team, ahead of its next phase of growth.

Perfect Moment

Leading the changes, Chath Weerasinghe has been appointed chief financial officer and chief operating officer at Perfect Moment. Weerasinghe joins the company from Canada Goose, where he served as regional director and vice president of finance and operations for Canada Goose EMEA, and he was responsible for the Canadian outerwear giant’s global expansion. 

Likewise, Vittorio Giacomelli, former president of product and sourcing at Canada Goose, has also joined Perfect Moment, where will be responsible for overseeing product strategy, product development, and innovation. The executive has decades of expertise in design, product development, and sourcing, as he held stints at Moncler, The North Face, Napapijri, and Nike.

Meanwhile, Perfect Moment co-founder and chief creative officer, Jane Gottschalk, has been appointed president of the company. Gottschalk will continue to oversee the company’s creative direction as well as marketing, commercial and brand strategy.

The management changes come at a transformative time for Perfect Moment, as the firm looks to strengthen its position in the luxury outerwear market, while resonating strongly with a younger demographic seeking individuality and innovation, according to a press release.

“These leadership changes reflect our commitment to building a world-class team that matches the potential of the Perfect Moment brand,” said Perfect Moment chairman, Max Gottschalk. “Chath’s operational expertise, Vittorio’s extensive experience in production, and Jane’s creative leadership provides us a powerful foundation to drive growth and establish Perfect Moment as a leader in the luxury outerwear market.”

In its most recent trading update in November,  the Chamonix-founded company said revenues plunged 35 percent to $3.8 million in the second quarter, on the back of a decline in collaborations revenue, partially offset by gains in its e-commerce vertical.

 

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