LVMH
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It seems LVMH is looking to increase their portfolio within the luxury apparel sector. The conglomerate has made an investment into Moncler.
As spotted on Hype Beast the French holdings company announced on Thursday, September 26 that they acquired a 10% stake in Remo Ruffini (the investment vehicle controlled by Ruffini Partecipazioni Holding) which owns a direct stake in Moncler. The move will not only increase Double R’s ownership from 15.8% to 18.5%, but also affords LVMH the right to appoint two board seats at Double R. According to Yahoo! News long tenured LVMH executive Antonio “Toni” Belloni will get one of the seats while the other has yet to be announced. Remo Ruffini will remain as Moncler’s CEO and Chairman.
He expressed his enthusiasm in a formal statement. “This partnership reinforces Double R’s position in Moncler and provides the stability needed to execute my vision for the future” he said. “I have long admired Bernard Arnault’s entrepreneurial spirit and unique understanding of the luxury sector, and I am delighted he so clearly supports my long-term ambitions for our Group’s extraordinary brands.”
Bernard Arnault, Chairman and CEO of LVMH, also commented on the agreement. “Moncler has been one of the most significant entrepreneurial success stories in the industry over the past twenty years. Remo Ruffini’s vision and leadership are remarkable and I am delighted to invest in his holding company to reinforce his position as leading shareholder on Moncler and support the independence of the Moncler Group.”
Moncler is an Italian luxury ready to wear apparel company based in Milan. They are most known for their down jackets
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Source: Louis Vuitton / Louis Vuitton
It seems TikTok is planning to address bootlegging. The company has reportedly asked LVMH for help on how to avoid fakes being sold on the app.
Hypebeast is reporting that TikTok is strategizing on how to combat bootlegging. According to Bloomberg News the social media giant is in discussion with the luxury goods conglomerate. Senior Vice President of Global Omni-Marketing Toto Haba confirmed with the news site that the two parties are working together to provide users an “elevated shopping experience”. If true the initiative could help advance the app’s brand identity and earn more trust consumers. “It’s important for us to guard our IP” Haba said. “TikTok and ByteDance seem much more willing to talk with us on that and set the right guardrails.”
TikTok Shop has become a go to for buyers looking to purchase counterfeit luxury products. So much so the Better Business Bureau have urged buyers to beware. “Consumers should vigilantly follow online shopping safety tips when using TikTok Shop,” BBB President and CEO Steve Bernas said in a press release. “With any new service comes the potential for scams, especially with online shopping, where it could be difficult to verify a seller’s identity or vet their background” he added.
LVMH is home to brands such as Louis Vuitton, Hennessy, Tiffany & Co., Christian Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe, Loro Piana, Kenzo, Celine, Sephora, Princess Yachts, TAG Heuer, and Bulgari.
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Rihanna is officially stepping down as the CEO of her Savage X Fenty company, in a move to further the vision and earning potential of the brand.
According to reports, the superstar singer announced that she would be leaving the role with the lingerie brand that she co-founded in 2018 with another group including luxury house LVMH effective on Monday (June 26). Hillary Super, the former CEO of Anthropologie Group will take over the reins as Rihanna will remain executive chair. Since that origin point, her valuation is set at $1.4 billion.
“It’s been beautiful to see our vision for Savage X Fenty impact the industry at such an incredible magnitude over the last five years,” Rihanna said in a statement. “This is just the beginning for us, and we’re going to continue to expand in ways that always connect with the consumer. I’m so grateful and excited to welcome Hillary Super as our new CEO — she is a strong leader and is focused on taking the business to an even higher level.”
“I’m thrilled to join the Savage X Fenty family,” Super said in the press release. “The brand is a major powerhouse in the lingerie and apparel industry, and its unwavering commitment to celebrating inclusivity and fearlessness is inspiring.” Prior to her being global CEO at Anthropologie, she served in leadership roles at American Eagle, Gap and Old Navy as well as Guess.
For the “Diamonds” singer, the move is another step towards realizing a stronger connection with the consumer beyond digital sales. The Savage X Fenty brand opened up brick-and-mortar locations in seven cities across the United States which include Los Angeles, Houston, Las Vegas and Atlanta, fueled by earning $125 million in investments at the beginning of last year aided by other groups including Jay-Z’s Marcy Venture Partners. Also adding to the brand’s appeal, the Valentine’s Day specials produced in conjunction with Amazon Prime have brought in more viewers and customers.
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Virgil Abloh’s successor at Louis Vuitton has been named. Pharrell Williams is the renowned fashion house’s new Men’s Creative Director.
The legendary producer will now be spearheading all things menswear for the luxury label. On Tuesday, Feb. 14 Louis Vuitton made the formal announcement. Louis Vuitton’s Chairman and CEO expressed his enthusiasm in a formal statement. “I am glad to welcome Pharrell back home, after our collaborations in 2004 and 2008 for Louis Vuitton, as our new Men’s Creative Director” he said. “His creative vision beyond fashion will undoubtedly lead Louis Vuitton towards a new and very exciting chapter.”
Pharrell Williams is a visionary, recording artist, producer, songwriter, philanthropist, fashion designer and entrepreneur with 10 billion combined global music streams to date. He has been honored with 13 Grammy Awards, including 2004, 2014 and 2019 for Producer of the Year and ASCAP’s Golden Note Award in 2012.
He has received two Academy Award nominations for his original song “Happy” (Despicable Me 2) and for Best Picture-nominated (Hidden Figures 2016) as co-producer. Williams also received a Golden Globe nomination for co-scoring the film. In 2019, Williams received an Emmy nomination for his original song “Letter to My Godfather,” for Netflix’s Black Godfather about legendary music executive Clarence Avant.
In 2020, Williams was inducted into the Songwriters Hall of Fame for his work as The Neptunes.
Pharrell excels as a fashion designer and entrepreneur with his Billionaire Boys Club and Ice Cream apparel among other brands. In the fall of 2019, Williams teamed up with David Grutman and opened both Swan and Bar Bevy in Miami’s Design District, and The Goodtime Hotel in 2021. In 2020, Pharrell founded Humanrace, a product company with a mission to empower all individuals in their pursuit of well-being across product and people.
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