Saturday, 23 September 2017

Bettencourt’s death sparks speculation about L’Oréal’s future

Shares in cosmetics group L’Oréal rose on Friday after the death of 94-year-old billionaire Liliane Bettencourt, who had the largest stake in the company and whose passing may alter the ties between L’Oréal and Nestlé.

L’Oréal shares were up around 4 percent in early trading, the best performer on France’s benchmark CAC-40 index and among the top stocks on the pan-European STOXX 600 index.

Bettencourt’s family owns 33 percent of L’Oréal. Her daughter Françoise Bettencourt-Meyers, who sits on L’Oréal’s board along with her own son, said in a statement that the family remained committed to L’Oréal and its management team.

Nestlé, which owns just over 23 percent of L’Oréal, had agreed with the founding family that the two parties could not increase their stakes during Liliane Bettencourt’s lifetime and for at least six months after her death.

“Speculation will now inevitably be re-ignited around Nestlé’s intentions towards its L’Oréal stake,” analysts at Jefferies wrote in a research note.

“This holds out the prospect of L’Oréal either buying in the stake, or perhaps even Nestlé buying L’Oréal outright.”

Nestlé shares were up 1.1 percent while shares in healthcare company Sanofi, in which L’Oréal also has a 9 percent stake, also advanced by around 1 percent.

Analysts said that while they did not expect any immediate changes to the relationships between Nestlé and L’Oréal, a deal in the longer run could not be ruled out.

L’Oréal could also carry out share buybacks after Bettencourt’s death, as Bettencourt had been unwilling to sell L’Oréal shares during her lifetime, which could also boost the L’Oréal stock price, added the analysts.

“We have recently argued that a major deal at Nestlé is not on the cards for now, and the market is currently seeing Nestlé as a seller of L’Oréal (after it sold an 8 percent stake in 2014),” JP Morgan analysts wrote in a note.

“Yet at a time of intense changes and portfolio reshuffling in the industry, a potential take-over of L’Oréal by Nestlé cannot be discarded completely, and we believe the market debate around L’Oréal’s future with or without Nestlé is likely to intensify,” added JP Morgan.

L’Oreal

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Daily Dream Home: Tuscan Oaks Farm

A majestic residence, inspired by the Italian countryside, Tuscany Oaks Farm in Summerland, California combines magnificent vision with seductive beauty in an irresistible coastal setting.

Perched above the sea on a wide bluff of nearly 20 acres, this serene equestrian estate embraces pastoral privacy and panoramic views. Designed by Don Nulty, AIA, this impeccable property is superbly constructed with materials hand-selected, custom-made and personally imported from France, Italy and elsewhere in Europe.

Through double gates, up a private drive flanked by stately trees and manicured grounds, a grand motor court sets a tone of gracious elegance, and the entrance galleria has soaring arches that welcome guests with classic proportions and tranquil warmth.

Within, this five ensuite-bedroom residence combines strength and spaciousness with gem-like beauty. Every material, fitting and detail was chosen and placed to accommodate the most cordial – and comfortable – lifestyle.

Built on a scale to offer both intimacy and expansive entertaining, life at Tuscany Oaks takes in sublime views stretching from the Santa Ynez Mountains to the Channel Islands, and from Santa Barbara to Port Hueneme.

This is an estate that celebrates the equestrian life, whether it takes the form of thoroughbreds, polo ponies, dressage or casual trail riding along the nearby beach and bluffs. The 18-stall barn includes an office, tack room and two-bedroom ranch manager’s apartment. There are fenced corrals and acres of laser-leveled pasture for grazing or polo.

With its generous space and idyllic site, this is a property adaptable to the ideals of a sophisticated buyer. The barn could be used for offices, or adapted to a screening room or car storage.

Additional features include a spectacular outdoor entertainment compound with swimming pool, loggia pavilion and an adjacent cabana with a bedroom, bath, exercise room and full kitchen; security cameras throughout the property; top-of-the-line audiophile electronics; and a very private guest house above an additional two-car garage.

This exquisite estate is a jewel on California’s most desirable Santa Barbara coast – refined living, dramatic vistas and plenty of space to realize one’s most enchanted dreams.

This property is listed for $26.5 million with Village Properties and is showcased by Luxury Portfolio.

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Chanel takes over Colette Paris this November

After Balenciaga, Les Vacances de Lucien and Sacai, Chanel has released some teaser information on what shoppers can expect from its takeover of Colette’s first floor in November. It’s part of a series of month-long brand guest slots through to the store’s planned closure at the end of the year.

The house has also unveiled a logo for the event by Chanel creative director Karl Lagerfeld – Colette’s best customer – based on the two brand names roughly hand-painted in Colette-blue with turquoise and pink accents to give a smudgy effect and joined by Colette’s two-dot logo.

According to a statement from the house released on Friday, Chanel for its takeover — scheduled to run Oct. 30 to Nov. 25 — will stage happenings around the theme of music, along with a program of beauty talks and other surprises. A selection of ready-to-wear pieces and accessories from the fall 2017 and cruise 2018 will also be presented “in a dreamlike scenography.”

But Thom Browne is yet to take his turn, with the American designer set to take over the space from Oct. 2 to Oct. 28. Wrapping the series from Nov. 27 to Dec. 20 will be Saint Laurent, which will take over the store space on a permanent basis after it closes on Dec. 20.

Chanel for Colette Paris, November 2017

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Tod’s to pursue strategy without a Creative Director and focus on limited edition collections

Tod’s said in August it would make short-term sacrifices in margins and revenues in pursuit of medium-term growth as it decided to turn away from fashion to focus on higher-end products.

“We think that the role of the stylist as once conceived is now an old concept. Today it is about many projects, limited edition collections… style is in movement,” Della Valle told reporters.

He added that fashion houses had to think more like fashion editors “who every year have to think of 12 different cover pages… also in fashion the world has changed and you have to come up with something new each month.”

As luxury groups have been coming under pressure from increasingly younger clients to present more collections during the year, Della Valle has repeatedly said that the company would engage in different strategies aiming at both “traditional and new clients”, increasing products offered and investing in technology more alongside traditional retail shops.

The company has already launched different one-off capsule collections, including a collaboration with celebrity Italian influencer Chiara Ferragni and designs for Yoox Net-a-Porter.

Its “Italian Dream collection” showcased in the elegant frame of Milan’s Modern Art Museum, with models parading designs in earthy tones of brown, black and cream.

The collection included suede details, casual double breasted blazers, leather tops and jackets and models carried different styles of handbags and clutches, one of the key products for the Italian group.

Chiara Ferragni for Tod’s 2017

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Jimmy Choo to design the shoes for Off-White’s Spring 2018 show

The collection will make its debut at Off-White’s Spring/summer 2018 show during Paris Fashion Week. The line is one of many recent collaborations between streetwear and luxury labels.

The Off-White c/o Jimmy Choo will be shown on September 28 during Off-White’s Paris show. Continuing the see-now, buy-now trend, the collection will be available for pre-order on Jimmy Choo’s website immediately following the show, with an official launch scheduled for February.

The collaboration echoes recent partnerships between luxury labels and streetwear brands, such as Louis Vuitton’s highly anticipated collection with Supreme and Manolo Blahnik’s past collaborations with Vetements. Alexander Wang also recently created a limited-edition Swarovski-encrusted clutch with Judith Lieber, which made its first appearance at the designer’s Spring 2018 show during New York Fashion Week.

The Jimmy Choo line also follows the many diverse partnerships Off-White designer Virgil Abloh has established since founding his line. In recent months Chicago native has announced collaborations with Warby Parker, Ikea and the New York City Ballet.

In August, Abloh announced his upcoming Spring/summer 2018 show would take its inspiration from the late Princess Diana. The show comes shortly after the 20th anniversary of her death in a Paris car accident on August 31, 1997. Off-White will also livestream the show on Facebook.

Off-White x Jimmy Choo

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Hublot opens second store in Las Vegas at The Shops at Crystals

Less than month after it opened its first Las Vegas store at The Forum Shops at Caesars, luxury Swiss watchmaker Hublot opened a second boutique to the Entertainment Capital of the World. Located at The Shops at Crystals, the new store’s opening – much like the inauguration of Hublot’s first Las Vegas address – coincided with a much anticipated boxing match. On 16th September, a day prior to the ribbon-cutting ceremony, Hublot brand ambassador Gennady “GGG” Golovkin faced off Mexican boxer Canelo Alvarez at the T-Mobile Arena.

Hublot new store Las Vegas at Crystals Hublot new store Las Vegas at Crystals

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Aeffe Group (Moschino) reports 8,8% increase for the first half of 2017

Aeffe Group (Alberta Ferretti, Moschino) reports 8,8% turnover increase in the first half of 2017. 70% of the group’s turnover is realized with the Moschino brand.

In an interview to Italian media Massimo Ferretti, CEO of Aeffe said “nowadays being global the risk runs very high”. He added e-commerce, which weighs 8% of sales, is “growing steadily”. Speaking about influencers Mr Ferretti said “You can not ignore it,” he replies.

Of course, more than with bloggers, we tend to work with celebrities all over the world, who, in addition to a high profile profile, also have a huge weight on the social world. Our latest capsule, conceived and promoted on the basis of this assumption, has been sold out within an hour.”

According to Ferretti, the answer lies in an alchemy: on the one hand, digitize the processes, on the other hand to preserve the highest possible rate of craftsmanship in production, “so as to keep intact the DNA of the made in Italy”.

Regarding retail expansions, Alberta Ferretti will open new stores in Shanghai and Dubai and Moschino will open in Paris and China.

MOSCHINO Spring Summer 2018

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