Prada Explores Lightness with Windswept Translucent Chiffon for Next Summer 

A model presents a creation of Prada collection during the Milan Fashion Week, in Milan, Italy, 21 September 2023.
A model presents a creation of Prada collection during the Milan Fashion Week, in Milan, Italy, 21 September 2023.
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Prada Explores Lightness with Windswept Translucent Chiffon for Next Summer 

A model presents a creation of Prada collection during the Milan Fashion Week, in Milan, Italy, 21 September 2023.
A model presents a creation of Prada collection during the Milan Fashion Week, in Milan, Italy, 21 September 2023.

Prada achieved a state of unbearable lightness in a series of translucent chiffon dresses that gently cosseted the form, trailed by wispy strands of the finest organza.

Designers Miuccia Prada and Raf Simons aptly dubbed the series of ethereal, windswept dresses previewed during Milan Fashion Week on Thursday as “Haze.” They never altered shape, only the shades of muted pastels shifted. They were paired with bright satin mules, either flats or with small triangular heels.

As they did during menswear in June, models walked past a wall of clear, oozing slime, which pooled, then drained down an industrial grate runway, this season in peach. Miuccia Prada said there was a thematic link.

“The whole thing started from lightness,” Prada told reporters backstage. “We wanted to do a really light, light, light show. Usually, we ... tend to do heavy. It was a challenge to do light.”

Simons said it took the pair the full three years of their collaboration to date to figure out a “light and fluid” approach as a counterpoint to their exploration of weightier topics, like uniforms and decoration.

“The collection is about fluidity, and movement and material that you maybe can’t really grasp easily as solid,” Simons said.

Not that uniforms and decoration were ignored. Chiffon capes gave diaphanous elegance to high-waist belted shorts and a worker’s shirt. A leather utility vest was decorated with swirls of crystals, and there were jumpsuits with notched lapels. As in menswear, long fringe created a curtain over prints. Crushed velvet dresses were decorated with crystals, studs and metal eyelets.

“They are beautiful clothes for today,” Prada said.

Belts were the accessory of the season, especially with long trailing fringe: tinsel silver, coppery gold, leather with eyelets or silky strands.

The new collection featured a reissued bag originally made by Miuccia Prada’s grandfather, Mario Prada, in 1913, a link back to the brand’s lineage as a leather goods company. The gathered handbag features a clasp closure shaped like the mythological face with bulging eyes and tongue stuck out — just as it did in Mario’s day. “He was very eccentric, even back then,” Prada said.

The updated versions are made in leather or the brand’s trademark recycled nylon, Re-nylon.

The backstage surge included Scarlett Johansson and Benedict Cumberbatch, as the writers strike in Hollywood may have left the stars with time to fill fashion’s front rows.



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".