Pharrell Williams Takes over Paris for Fashion Debut

Pharrell takes over as menswear director for the biggest brand in luxury fashion. Robyn BECK / AFP
Pharrell takes over as menswear director for the biggest brand in luxury fashion. Robyn BECK / AFP
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Pharrell Williams Takes over Paris for Fashion Debut

Pharrell takes over as menswear director for the biggest brand in luxury fashion. Robyn BECK / AFP
Pharrell takes over as menswear director for the biggest brand in luxury fashion. Robyn BECK / AFP

Some of the most historic parts of Paris are being cordoned off on Tuesday for the first catwalk show by US superstar Pharrell Williams in his new role as artistic director for Louis Vuitton.

The singer-producer is adding to his repertoire as he takes over menswear collections for the world's most lucrative brand, which made more than 20 billion euros ($22 billion) in revenue last year, AFP said.

His debut is the hottest ticket of the season, due late at night on the oldest standing bridge in the French capital, the Pont Neuf, with guests set to view the catwalk from boats on the Seine.

A whole stretch of the riverbank is being cordoned off -- from the bridge up to the Concorde plaza -- from the early afternoon, a police source told AFP.

Guests received their elaborate invitations on Monday -- a sort of mini-stained glass window featuring a sunset over the bridge that suggests yellow will be a dominant color, in keeping with the singer's "Happy" vibes.

He told the New York Times this week that the theme is "lovers".

"I was appointed to rule in this position," he told the newspaper. "But a ruler of this position for me is a perpetual student. It's what I intend to be."

'Sells culture'

"We can expect a commercial hit -- it's not just one of the most highly anticipated collections of fashion week but a very significant moment in fashion history," said Alexandre Samson, of Paris fashion museum Palais Galliera.

Many labels have moved away from the big-name designers of the past like Jean-Paul Gaultier and Karl Lagerfeld, preferring more discreet professionals.

But Louis Vuitton is going the other way, putting a full-blown celebrity in charge.

It follows its last show in January when a performance by Spanish pop superstar Rosalia was almost more of a focus than the clothes on the runway.

It is "consistent with LVMH CEO Bernard Arnault's idea that Louis Vuitton does not sell handbags but sells culture", said bank HSBC in a briefing note.

"The nomination is obviously not just relevant for menswear... but targeted for a greater halo effect that could resonate to all core lines of the brand."

The 50-year-old Williams nonetheless faces a major challenge filling the shoes of Virgil Abloh, the former Kanye West sidekick who breathed new streetwear-infused life into Louis Vuitton prior to his tragically early death from cancer in 2021.

But he has long been a red carpet sensation, known for daring outfits that go far beyond the usual hip-hop stylings, and a string of collaborations with Chanel, Moncler and Tiffany -- as well as Louis Vuitton.

"Pharrell has always been ahead of clothing trends, in terms of music as well... it will be interesting to see how he uses his flair for innovative artistic projects," said Pierre Alexandre M'Pele, editor of GQ France.



Ferragamo Shares Boosted after Confirmation of 2024 Forecasts

A view of Italian luxury fashion house Salvatore Ferragamo's logo at a store in Milan, Italy, March 6, 2024. (Reuters)
A view of Italian luxury fashion house Salvatore Ferragamo's logo at a store in Milan, Italy, March 6, 2024. (Reuters)
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Ferragamo Shares Boosted after Confirmation of 2024 Forecasts

A view of Italian luxury fashion house Salvatore Ferragamo's logo at a store in Milan, Italy, March 6, 2024. (Reuters)
A view of Italian luxury fashion house Salvatore Ferragamo's logo at a store in Milan, Italy, March 6, 2024. (Reuters)

Ferragamo shares jumped on Tuesday after the Italian luxury group confirmed its full year profitability forecast, despite the announcement of a likely impairment writedown in the range of 70-90 million euros.

The group confirmed the guidance at a time of uncertainty for the luxury industry, a Milan-based trader said. He added that the writedown has only an accounting impact.

Shares in Ferragamo were up almost 6% at 0915 GMT.

Ferragamo's stock has lost almost half of its value in the last year and its market capitalization slipped below 1 billion euros ($1.05 billion).

Purchases are driven by attractive valuations, with the stock close to an all-time low, another trader said.

Salvatore Ferragamo said late on Monday that an impairment test would likely result in writedowns of 70-90 million euros, mainly deriving from store lease agreements.

The group, which is struggling with a turnaround under CEO Marco Gobbetti, added that these impairment assumptions will not result in any financial payout and it confirmed the group's operating profit forecasts.

Analysts at Equita, who rate the stock as "Hold", added a note of caution after the statement.

"The need for these write-downs signals less visibility on the prospects of improvement of the group's results in the medium term," they said.

Ferragamo didn't provide detailed full year guidance, but in October it said that the operating profit this year would be at the lowest end of analyst estimates, meaning around 30 million euros.