• Skip to primary navigation
  • Skip to main content
Subscribe
  • Fashion
  • Sneakers
  • Bags
  • Accessories
  • Music
  • Rihanna
  • Follow
    • INSTAGRAM
    • FACEBOOK
    • PINTEREST
    • TWITTER
    • YOUTUBE
January 27, 2017
By Lois Sakany
SHARE THIS ARTICLE
Share Tweet Pin Linkedln Email Reddit

LVMH CEO Sounds Like An Economic Doomsday Clock; More Worried By Marc Jacobs Than Trump

January 27, 2017. Leave a Comment

France-based Louis Vuitton Moet Hennessy reported a very solid quarterly Q4 earnings report yesterday (January 26), with revenues topping $37 billion, an increase of five percent over the prior year. With growth contributions from the United States, Europe and China, company CEO Bernard Arnault highlighted Louis Vuitton and Hennessy as posting up particularly solid sales results. (And nope, no mention of Supreme, and don’t hold your breadth on that ever happening!)

Despite the good news, Arnault’s view on the future was the opposite of rosy. In fact, it was not unlike the scientific Doomsday Clock, whose hands were recently moved to two and a half minutes to midnight, the closest they’ve been since 1953.

Part of Arnault’s concern was based simply on a what comes up must come down philosophy of life, but also the change in the global political tone. “For almost 10 years now, there hasn’t been a major crisis, the last one dates-back to 2008. And when I see my friend Warren Buffet, he always tells me, I am very optimistic for the long-term. I am also very optimistic for long-term. But over a ten-year period, normally, there are eight good years and two not so good years or even a very bad year,” explained Arnault. “Now, we’re coming to the end of the ten-year period. So what’s going to happen when we see a global outlook with interest rates that had defied gravity as low as they are with share prices that are rising with exuberance. To quote a well known term, with a geo-political situation that’s difficult to read, there’s talk of a trade war, tariff war, currency war, with very low growth in Europe.”

When asked about Marc Jacobs and Donald Trump by an analyst, Arnault responded, “I’m [more] concern[ed] about Mark Jacobs than the U.S. president.” Speaking on the financial health of the Marc Jacobs business, he noted, “That’s the only business which is in the red.”

Arnault seemed concerned that the label had become too trendy, and noted, “You do not want to turn [March Jacobs] into a fashion company, because when you’re out of fashion than you’ve had it. Vuitton is a timeless company.”

Uncategorized Bernard Arnault Hennessy Louis Vuitton LVMH Marc Jacobs

Scathing 5,400-word report via The Cut's Tahirah H Scathing 5,400-word report via The Cut's Tahirah Hairston on Kerby Jean-Raymond whose label Pyer Moss appears to no longer be operational. 

Check out an excerpt below. 

Ten years in, Jean-Raymond’s star has only risen. He hangs out with celebrities (Tracee Ellis Ross, Brent Faiyaz), made a cameo on Insecure, and drives flashy cars (a McLaren 720S, an Aston Martin Superleggera, a Porsche GT3 RS). Meanwhile, his brand is nearly nonexistent.

There is no Pyer Moss boutique. The clothing celebrated on the runway was mostly not available to anybody who didn’t have a celebrity stylist to pull it for them, and company insiders complained that quality control was so uneven that at times what was produced was too flawed to be sold. Jean-Raymond sometimes missed deadlines, didn’t always pay bills, started other projects, and alienated allies. He referred to Pyer Moss as an “art project” and seemed reluctant to make practical choices. Among the fashion insiders who had cheered his rise, there has been a growing feeling that he has wasted an opportunity to build something important.

The last straw for many of his early supporters was his couture show in July 2021. Titled “WAT U IZ,” and put on in the U.S. during Paris Couture Week, it was a tribute to the various innovations that Black people have been responsible for, often without credit. The models came down the runway decked out in a jar of peanut butter and a traffic light. A lot of it wasn’t really clothing, much less couture. Even if the professional critics and other members of the fashion press seemed hesitant to publicly express their disappointment, they whispered among each other that he’d lost the plot of his brand.
It's official! #Nike and #TiffanyAndCo have a "Leg It's official! #Nike and #TiffanyAndCo have a "Legendary Pair" dropping soon!
London-based South Korean designer, Sohee Park pre London-based South Korean designer, Sohee Park presented her Couture spring 2023 collection in Paris for the first time.

For her Paris debut, the Central Saint-Martins alum presented an assortment of ornate gowns where drama and glamour came to shine.

Neck-breaking angelic walk courtesy of model Sokhna Niane @sokhnaforreal 🔥
In sad news, Kering hasn't realized its mistake an In sad news, Kering hasn't realized its mistake and brought back Alessandro Michele (kidding but not really). Instead it's announced the appointment of Sabato De Sarno as Gucci creative director. De Sarno will present his debut runway collection at Milan Women’s Fashion Week in September 2023.

The 39-year-old Sabato De Sarno was raised in Naples, Italy. He began his career at Prada in 2005, moving to Dolce & Gabbana, before joining Valentino in 2009, where he eventually was appointed fashion director of men’s and women’s collections.

De Sarno's resume is no joke, so we look forward to seeing what he brings to the table and will do our best to not hold it against him that he replaced Michele. That's on Kering.
French luxury conglomerate LVMH announced earnings French luxury conglomerate LVMH announced earnings yesterday and noted that Fenty Beauty doubled its revenue in 2022 versus the prior year. In an earnings release the company attribued the growth to "expansion of its distribution network and the success of its launches." 

First launched with LVMH's beauty brand incubator Kendo in 2017, Fenty's growth over the past several years has largely been fueled by global expansion. 

Comnenting on Fenty Beauty's first forray into Asia, CEO Rihanna in 2019 stated on social media, "When I launched @fentybeauty in 2017, it was important to me to make sure it was available globally so everyone had access to it. We are continuing to expand our Fenty Beauty family to Hong Kong, Macau, Seoul and Jeju in September!”

While LVMH didn't provide 2022 Fenty Beauty revenue figures, it announced the beauty brand brought in $573M in revenue in 2018. Forbes in 2021 valued the entire operation as worth $2.8 billion, of which 50% belongs to Rihanna.
The purveyor of consistent heat, Casey Cadwallader The purveyor of consistent heat, Casey Cadwallader's #Mugler fall 2023 runway show in Paris, gave what it's supposed to give. Excellent casting featuring #Ziwe, Amber Valetta, Debra Shaw, Omahyra Mota, Paloma Elsesser, Anok Yai, Dominique Jackson, Maria Carla and more! Badass energy, bold pieces in leather, lace and some denim.

We think Thierry Mugler would be pleased✨
INSTAGRAMFACEBOOKPINTERESTTWITTERYOUTUBE
  • Home
  • About
  • Contact
  • Shop

Copyright © Snobette - Privacy Policy

Asset 1
Asset 1
Asset 1
  • About
  • Contact
  • Privacy Policy
  • Fashion
  • Sneakers
  • Bags
  • Accessories
  • Music
  • Rihanna