New Exhibition Devoted to Chanel’s Life and Work Opens in London

Members of staff looks at the different dresses and outfits displayed during the press photocall for the exhibition "Gabrielle Chanel, Fashion Manifesto" at the V&A museum in London, on September 12, 2023. (AFP)
Members of staff looks at the different dresses and outfits displayed during the press photocall for the exhibition "Gabrielle Chanel, Fashion Manifesto" at the V&A museum in London, on September 12, 2023. (AFP)
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New Exhibition Devoted to Chanel’s Life and Work Opens in London

Members of staff looks at the different dresses and outfits displayed during the press photocall for the exhibition "Gabrielle Chanel, Fashion Manifesto" at the V&A museum in London, on September 12, 2023. (AFP)
Members of staff looks at the different dresses and outfits displayed during the press photocall for the exhibition "Gabrielle Chanel, Fashion Manifesto" at the V&A museum in London, on September 12, 2023. (AFP)

The little black dress. The tweed dress suit. The perfume simply known as No. 5.

Those instantly-recognizable fashion classics, and many more lesser-known designs by Gabrielle “Coco” Chanel, are celebrated in a major new exhibition at London's V&A Museum dedicated to the life and work of the famed French designer.

Curators have brought together nearly 200 outfits seen together for the first time, charting Chanel's long career from the opening of her millinery boutique in Paris in 1910 to her final collection in 1971.

"Of course there are many elements that we are all familiar about Gabrielle Chanel and what she contributed to fashion,” said Connie Karol Burks, one of the curators. “But in this exhibition we expand out from that, and we really look in detail at how her approach to design influenced the way we all dress.”

The exhibition begins with one of the earliest surviving Chanel garments — a simple cream blouse from 1916 made from silk jersey, a humble fabric previously used for underwear and stockings.

Chanel was the first to show the fabric's appeal for high fashion, curators said, and the blouse sets the tone for the relaxed elegance and defiance of the more rigid fashions of the day that the designer is known for.

“What's really striking about it is just how modern it looks today,” more than a century later, Burks said.

Visitors at the exhibition are treated to galleries filled with Chanel's creations, including her famous little black dresses — an enduring hit that, in 1926, American Vogue magazine likened to the popular Ford car and predicted that “all the world will wear.”

The show's highlight is a mirrored room filled from floor to ceiling with a stunning display of Chanel's signature suits, from monochrome black and cream to more cheerful shades of rose, lilac and red.

There are also on display outfits created for Hollywood stars Lauren Bacall and Marlene Dietrich, and sections devoted to Chanel's coveted perfumes and handbags. The finale is a showstopping recreation of the mirrored staircase in Chanel's couture salon in Paris, populated with mannequins donning a collection of the designer's opulent evening gowns.

Tristram Hunt, the V&A's director, said the museum hoped that the new display will build on and follow the successes of previous blockbuster fashion exhibitions featuring Christian Dior and Alexander McQueen.

“Gabrielle Chanel. Fashion Manifesto” opens on Saturday, and runs until Feb. 25.



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".