Tommy Hilfiger Takes over the Oyster Bar in Grand Central for Joyous New York-Centric Fashion Show

 The Tommy Hilfiger collection is modeled during Fashion Week, Friday, Feb. 9, 2024, in New York. (AP)
The Tommy Hilfiger collection is modeled during Fashion Week, Friday, Feb. 9, 2024, in New York. (AP)
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Tommy Hilfiger Takes over the Oyster Bar in Grand Central for Joyous New York-Centric Fashion Show

 The Tommy Hilfiger collection is modeled during Fashion Week, Friday, Feb. 9, 2024, in New York. (AP)
The Tommy Hilfiger collection is modeled during Fashion Week, Friday, Feb. 9, 2024, in New York. (AP)

Tommy Hilfiger threw himself a welcome home party Friday night at Grand Central's Oyster Bar with Questlove as his DJ and Jon Batiste serenading Anna Wintour on his melodica while a bevy of global celebrities looked on.

Turning the iconic restaurant into “The Tommy” club for a night, Hilfiger called his New York Fashion Week show “A New York Moment,” rolling out roomy, '90s prep classics for the bash. The last time he hit town for fashion week was in September 2022, when his crowd braved rain for his “Tommy Factory” show at a Brooklyn drive-in theater.

This time, happy and dry underground beneath the transportation hub's vaulted ceilings, fans lined ramps for a glimpse of K-pop's Nayeon, her countryman Junho Lee, Indian actor Sonam Kapoor and various other friends of the brand: Sofia Richie Grainge and Damson Idris among them. Sylvester Stallone popped in at the end.

Hilfiger stuck to what he knows on models walking through: rugby shirts, blazers, chinos and varsity jackets in corduroy and herringbone. There were tailored women's coats in wool, checks and earth-toned tweeds, and chunky cable knits and mini-dress polos in cashmere.

Hilfiger put some of his famous guests in pieces that were shoppable as he continued to embrace a “see now, buy now” approach to fashion shows.

Who's wearing his take on so-called affordable luxury?

During a preview Thursday at his Madison Avenue offices, Hilfiger ticked off his primary markets of today: Germany, France, Italy, England, Türkiye, various parts of Scandinavia and Greece among them.

“That business is now bigger than the US business,” he told The Associated Press. “We're going to bring it back in the states now because we have really focused a lot on international growth. And this is a statement we’re making, that we’re coming home, and we’re taking it very seriously.”

And who had the most fun during his New York return? Hilfiger himself. He posed with Stallone and others for photos after his finale, when Batiste played along to his hit “Freedom” as he walked through the crowd. The designer even briefly joined Questlove in his booth.

On the runway, Hilfiger kept his logo messaging to a minimum as he attempts to “grasp,” as he called it, US consumers once again.

“We have to do it in a different way. We have to give them more elevated product, more modern fabrics and fits, and avoid redundancy,” he said. “We’ve got a very big polo shirt business, chino pant business, Oxford shirt business. But the consumer wants more than just that. Those are his or her staples. We're now going to bring some more excitement. And some more sophistication.”

Hilfiger started his eponymous brand in New York in 1985. PVH acquired it in 2010. Global retail sales of the brand’s wide range of products totaled about $9.1 billion in 2022.



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".