Burberry, U.K.’s largest luxury-goods maker, believes its upscale buyers have remained loyal, crediting them with keeping the label’s retail power strong.
Web site invezz.com quoted Burberry chief executive Angela Ahrendts as saying the following: “Against record prior year comparatives, Burberry delivered 8 per cent total revenue growth and 10 per cent retail growth in the first half, albeit slowing in the second quarter.
In a more challenging external environment, footfall declined but brand momentum remained strong, particularly with our higher spending luxury consumer.”We are actually very excited about London. We just opened our Regent Street flagship store and we’re more than delighted with how that’s started trading,” said Burberry chief financial officer, Stacey Cartwright. “We’re opening our first menswear stores in Knightsbridge as well. So our presence in London is going to be even more accentuated this third quarter.”Balenciaga shocked the fashion world last week when announcing the departure of Ghesquiere. He’s been working for the brand since 1997. They didn’t explain the reason for his departure, but it’s clear that he wants to go in a different direction.Ghesquiere took over as creative director in 1997 and is credited with establishing Balenciaga as one of the world’s most esteemed fashion houses. He is scheduled to leave the label at the end of November.
Now owned by the French multinational company PPR, Cristóbal Balenciaga opened his first boutique in San Sebastián,
Spain in 1918. Popular among the Spanish royal family, Balenciaga would later move his operation to Paris during the Spanish Civil War.
In the years following the war, the Balenciaga brand became synonymous with couture style and innovation. Credited by many with redefining the female silhouette, his influence would spread beyond his fashion house, as several designers who worked for Balenciaga would go on to become established designers in their own right, including Oscar de la Renta, Andre Courreges, Emanuel Ungaro, and Hubert de Givenchy.
“Cristóbal Balenciaga was a master, a genius whose avant-garde vision dictated fashion’s greatest trends and inspired generations of designers,” said PPR Chairman and CEO Francois-Henri Pinault in an October 5 company announcement. “With an incomparable creative talent, Nicolas has brought to Balenciaga an artistic contribution essential to the unique influence of the house.”
Karl was asked if he’d ever leave the Chanel brand:
“We (my team and I) only think in terms of one collection after the next collection. In fashion,
I am very much against projection in the far away future.”
Lagerfeld was recently seen with hip-hop artist, Kanye West, back in October. There’s been rumors that the two would collaborate on a collection. A source told the New York Post:
“They were in a deep conversation, then later appeared to be getting devices out to discuss design ideas.”
Kanye already has a line of clothing, called Kanye West. Last month, he debuted his collection at Paris Fashion Week. His clothing line has also been seen on his current girlfriend, Kim Kardashian. He’s had his hand in fashion for years by working with designers like Louis Vuitton.
Looking toward the future, Burberry plans to build upon its London presence , and that, although the recent Summer Games attributed to a slow sales quarter, sales are expected to thanks to the holiday season.
