Louis Vuitton Braves Rain on Its Italian Island Paradise

Bad weather was likely not top of mind when the storied luxury label chose Isola Bella as the venue for its Cruise 2024 collection. GABRIEL BOUYS / AFP
Bad weather was likely not top of mind when the storied luxury label chose Isola Bella as the venue for its Cruise 2024 collection. GABRIEL BOUYS / AFP
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Louis Vuitton Braves Rain on Its Italian Island Paradise

Bad weather was likely not top of mind when the storied luxury label chose Isola Bella as the venue for its Cruise 2024 collection. GABRIEL BOUYS / AFP
Bad weather was likely not top of mind when the storied luxury label chose Isola Bella as the venue for its Cruise 2024 collection. GABRIEL BOUYS / AFP

Louis Vuitton valiantly battled pounding rain on an Italian island paradise while presenting its cruise collection Wednesday night, the weather sending celebrity guests underneath umbrellas and dampening a hairdo or two.

But when you're the flagship brand within the powerhouse LVMH portfolio, with a guest list that includes Catherine Deneuve, Cate Blanchett and Emma Stone, what's a little rain?

Bad weather was likely not top of mind when the storied luxury label led by Nicolas Ghesquiere chose the tiny Isola Bella, a jewel of an island in the azure waters of Lake Maggiore, as an appropriately jaw-dropping venue for its Cruise 2024 collection, AFP said.

But the rain arrived nonetheless, forcing the show originally planned for the island's formal terraced gardens to take place within the baroque Palazzo Borromeo, still owned by the family of the same name whose noble ancestry dates to the 13th century.

"It's the one thing Nicolas can't control, is the weather," the editor-in-chief of Vogue Thailand, Ford Laosuksri, told AFP after the show, as guests lingered to sip bubbly while hoping (in vain) for the rain to stop.

Laosuksri was wearing a crocheted floral top and sandals -- an endearing if not foolhardy gesture amid the steady rain.

"I didn't want to ruin my velvet shoes," he confided.

Ghesquiere, Louis Vuitton's artistic director since 2013, sent models through the ornate, high-ceilinged rooms of the 17th-century palazzo in eclectic, futuristic creations for which he is celebrated.

Some looks recalled scuba gear adorned with avant garde ruffling, while others felt like fencers' uniforms, protective with thick quilting over the chest.

Fabric was cinched tight like an accordion at the bodice of a sleeveless dress with color blocks in royal blue and yellow gold, imparting texture and movement, while a shiny black dress came with a drawstring neckline that called to mind a popular handbag by the brand.

Sweaters became more airy with a translucent stripe at the midriff, while three chiffon gowns cut on the bias -- in dusty pink, sea green and baby blue -- sported exaggerated puffy sleeves worthy of the Edwardian age.

"It was beautiful, it was flowy but still powerful," said Philippine actress Heart Evangelista.

From fishing to fashion

Louis Vuitton's event was the first-ever fashion show allowed on Isola Bella, a former fishing village transformed by the Borromeos into a sumptuous paradise fit for royalty.

Kings, queens and emperors have been guests at Palazzo Borromeo over the years, including Queen Victoria, Napoleon and Josephine, and even Prince Charles and Princess Diana in 1985.

On Wednesday celebrities and influencers from around the world -- including US actress Jennifer Connelly and Felix from K-Pop's Stray Kids -- descended on the island.

Trying not to slip, guests took cover under the transparent umbrellas provided by the brand before escaping into the palazzo.

Following the show, some guests stood on benches and posed for pictures under the watchful gaze of centuries of Borromeo elders whose portraits line the walls.

Cruise collections are designed to offer warm-weather wardrobes for jet-setters lucky enough to escape to sunny locales during the drab winter months. In recent years, they have become destination events, with brands choosing more and more exotic spots to backdrop their luxury looks.

Louis Vuitton's show comes on the heels of Dior's, which showed a Frida Kahlo-inspired cruise collection in Mexico City Saturday, and Chanel's earlier this month at Hollywood's Paramount Studios.



Nike's New CEO Plans to Go Back to Basics in Brand Overhaul Effort

The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, US, March 19, 2019. (Reuters)
The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, US, March 19, 2019. (Reuters)
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Nike's New CEO Plans to Go Back to Basics in Brand Overhaul Effort

The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, US, March 19, 2019. (Reuters)
The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, US, March 19, 2019. (Reuters)

Nike's new CEO Elliott Hill warned of a long road to sales recovery for the sportswear giant, but the veteran executive's plan to turn the spotlight on sports like basketball and running, allayed some investor worries.

The company said on Thursday it was expecting third-quarter revenue to drop to low double digits after the embattled sportswear seller's quarterly results beat market estimates.

Hill, in his first public address as CEO on the post-earnings call, said Nike had "lost its obsession with sport" and vowed to put it back on track by refocusing on sport and selling more items at premium prices, Reuters reported.

"The recovery is going to be a multi-year process, but he(Hill) seems to be going back to the roots, back to Nike being Nike," said John Nagle, chief investment officer at Kavar Capital Partners, which owns Nike shares.

"(Hill plans to shift focus) away from some of the streetwear and fashion that had taken over the brand, the heavy discounting and the neglect of retailers. Just taking it back to what worked," Nagle said.

Hill, who was with Nike for more than three decades, returned as CEO in October to revive demand at the firm that has been struggling with strategy missteps that soured its relations with retailers such as Foot Locker.

Earlier this month, Foot Locker CEO Mary Dillon said Hill was "taking the right actions for the brand" and the retailer was "working closely" with Nike to emphasize newer sportswear styles, including Vomero and Air DT Max.

"(The retailers) they want us to get back to being Nike, and they want us to have the unrelenting flow of innovative products... and they want us to get back to delivering bold brand statements that help drive traffic," Hill said.

The company's market share dwindled as rival brands, including Roger Federer-backed On and Deckers' Hoka , lured consumers with fresher and more innovative styles.

Hill also highlighted that a lack of newness led Nike to become too promotional and said he plans to shift to selling more at full price on its website and app.

"With another half year of franchise management coupled with investment to reinvigorate the brand, we believe the next four quarters could be the worst of the margin erosion and earnings per share reductions," Barclays analyst Adrienne Yih said.

At least seven brokerages cut price targets on the stock with some analysts pointing to the lack of a clear timeline for Nike to return to growth.

Shares of Nike, which have lost about half of its value in the last three years, were down nearly about 2% in early trading on Friday.

Nike's forward price-to-earnings ratio for the next 12 months, a benchmark for valuing stocks, was 27.53, compared with 33.47 for Deckers and 32.32 for Adidas.

"A rudderless ship now has a rudder, and a sailor who knows how to drive it," said Eric Clark, portfolio manager at the Rational Dynamic Brands fund that owns Nike shares.