Ralph Lauren, a Son of the Bronx, Takes over Brooklyn in Lavish Return to NY Fashion Week

 Fashion from Ralph Lauren's latest collection is modeled during Fashion Week, Friday Sept. 8, 2023 in New York. (AP)
Fashion from Ralph Lauren's latest collection is modeled during Fashion Week, Friday Sept. 8, 2023 in New York. (AP)
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Ralph Lauren, a Son of the Bronx, Takes over Brooklyn in Lavish Return to NY Fashion Week

 Fashion from Ralph Lauren's latest collection is modeled during Fashion Week, Friday Sept. 8, 2023 in New York. (AP)
Fashion from Ralph Lauren's latest collection is modeled during Fashion Week, Friday Sept. 8, 2023 in New York. (AP)

He may have been born in the Bronx, but designer Ralph Lauren took over a different New York city borough — Brooklyn — with a sumptuous event that marked his return to NY Fashion Week after four years and brought out stars like Jennifer Lopez, Julianne Moore, Diane Keaton, Mindy Kaling, Gabrielle Union, James Marsden and many others.

After crossing the country last year to stage a lavish show at the grand Huntington Library in San Marino, California, Lauren returned to his home base of New York with Friday's show in a cavernous warehouse space at the Brooklyn Navy Yard, transformed into a reimagined artist’s loft. He decorated the space with rustic wood and draped canvases, and added glittering chandeliers above.

None other than Christy Turlington closed out the runway show of Lauren’s Spring 2024 women's collection, the 53-year-old supermodel looking regal in a one-shouldered gown in shiny gold. As is Lauren’s way, he combined luxury and casual throughout, showing sleek metallic looks and lacy evening dresses along with his beloved denim, for example a long floral embellished denim skirt, or a jean jacket adorned with rhinestones, feathers and embroidery.

Lauren addressed that variety in remarks emailed to The Associated Press, saying the woman he designs for “dresses for who she is on a particular day.” This collection, he said, was “inspired by her individuality — all the ways she can express herself through color, texture, contradictions.” It was his Lauren's first NY Fashion Week show since 2019.

Lopez, Moore, Keaton and Amanda Seyfried sat together in one row, Keaton grooving to the music. Nearby sat actors Keri Russell and Matthew Rhys, near Kaling. Other guests included Ariana DeBose, Rachel Brosnahan, Robin Wright and singer Sheryl Crow. Fellow designer Thom Browne was seated near Vogue editor Anna Wintour.

After the fashion show, big wooden barn-like doors opened from the runway “artist’s loft” to a huge barnlike room — inspired by Lauren’s ranch in Colorado — with long tables laden with pink roses and candles, where guests dined on lobster salad, filet mignon and grilled branzino.

Kaling said in an interview that she'd become a fan of the designer through her immigrant parents. “For them, if you wore Ralph Lauren, you had made it, you know, and so that became popularized in my house with Polo Ralph Lauren. So I love being here. It makes me feel really connected to my roots.”

Brosnahan said she admired Lauren's clothes because they lasted for many years and contributed to sustainability. “Some of my favorite Ralph sweaters are 15, 20 years old,” the actor said, “beautiful cashmere sweaters. We're having a conversation about sustainable fashion right now, and you can have less things if they're beautiful and they last a long time.”

Model Sofia Richie said she admired the designer’s consistency. “Through the years and years ... he’s stayed true to his designs and the kind of woman that he dresses,” she said.



LVMH Shares Drop after Missing Second-quarter Estimates

A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights
A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights
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LVMH Shares Drop after Missing Second-quarter Estimates

A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights
A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights

Shares in LVMH (LVMH.PA) fell as much as 6.5% in early Wednesday trade and were on track for their biggest one-day drop since October 2023 after second-quarter sales growth at the French luxury goods giant missed analysts' consensus estimate.

The world's biggest luxury group said late Tuesday its quarterly sales rose 1% year on year to 20.98 billion euros ($22.76 billion), undershooting the 21.6 billion expected on average by analysts polled by LSEG.

At 1000 GMT, LVMH's shares were down 4.5%.

The earnings miss weighed on other luxury stocks, with Hermes (HRMS.PA), down around 2% and Kering (PRTP.PA), off 3%.

Kering is scheduled to report second-quarter sales after the market close and Hermes reports on Thursday, Reuters reported.

Jittery investors are looking for evidence that the industry will pick up from a recent slowdown, as inflation-hit shoppers hold off from splashing out on designer fashion.

JPMorgan analyst Chiara Battistini cut full year profit forecasts by 2-3% for the group, citing softer trends at LVMH's fashion and leather goods division, home to Louis Vuitton and Dior.

"The soft print is likely to add to ongoing investors’ concerns on the sector more broadly in our view, confirming that even best-in-class players like LVMH cannot be immune from the challenging backdrop," said Battistini in a note to clients.

The weakness of the yen, which has prompted a flood of Chinese shoppers to Japan seeking bargains on luxury goods, added pressure to margins, another source of concern.

Equita cut 2024 sales estimates for LVMH by 3% - attributing 1% to currency fluctuations - and lowered its second half organic sales estimate to 7% growth from 10% growth previously.

The lack of visibility for the second half beyond the easing of comparative figures - as the Chinese post-pandemic lockdown bounce tapered off a year ago - is unlikely to improve investor sentiment to the luxury sector, Citi analyst Thomas Chauvet said in an email to clients.

"No miracle with the luxury bellwether; sector likely to remain out of favour," he wrote.

Jefferies analysts said the miss came as investors eye Chinese shoppers for their potential to "resume their pre-COVID role as the locomotive of industry growth and debate when Western consumers will have fully digested their COVID overspend".

LVMH shares have been volatile since the luxury slowdown emerged, and are down about 20% over the past year, with middle-class shoppers in China, the world's No. 2 economy, a key focus as they rein in purchases at home amid a property slump and job insecurity.

LVMH offered some reassurance, with finance chief Jean-Jacques Guiony telling analysts during a call on Tuesday that Chinese customers were "holding up quite well," while business with US and European customers was "slightly better".