Tory Burch Wants to Make 'Everyday Sublime' at New York Fashion Week

Carolina Herrera's collection combined classic looks with bolder and more colorful options. Charly TRIBALLEAU / AFP
Carolina Herrera's collection combined classic looks with bolder and more colorful options. Charly TRIBALLEAU / AFP
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Tory Burch Wants to Make 'Everyday Sublime' at New York Fashion Week

Carolina Herrera's collection combined classic looks with bolder and more colorful options. Charly TRIBALLEAU / AFP
Carolina Herrera's collection combined classic looks with bolder and more colorful options. Charly TRIBALLEAU / AFP

Striding down the runway to music from The Cure and Joy Division on Monday, models at New York Fashion Week paraded skirts inspired by lampshades -- US designer Tory Burch's celebration of making "the everyday sublime".
The brightly colored and sometimes shiny skirts seemed to stand alone at the waist and were designed to fold up "almost like origami," the designer told AFP.
"I wanted sharp corners, but... the skirt actually comes off and it folds up into nothing, is almost like origami," she said, celebrating the 20th anniversary of her brand.
Among the most singular works in her Fall/Winter 2024 collection, the skirts were worn with lightweight tops featuring long sleeves and hoods, during a runway show under the arcades of Manhattan's Great Library.
"I've tried to think about how to make the everyday sublime," she said.
Burch's brand has long been lauded for its classic looks but it now seems to be evolving toward becoming more contemporary.
She uses very light materials but gives them character with raw-cut seams, adds multi-colored fringes to a long sequined coat, or makes a delicate ruffled dress protrude from a pleated jacket.
"I think it's about a woman who has confidence and is looking for optimism in the world," she said.
Seeking balance
True to the image of the Carolina Herrera brand founded in 1981, its new autumn-winter collection is characterized by precise, streamlined silhouettes, enhanced by ruffles on sleeves and skirts, as well as embroidery.
The fashion house's classics are all there, including pencil or ruffled skirts and black-and-white checked suits.

Wes Gordon, the house's artistic director, has really made his mark on colors, however.
He has taken the brand away from basics such as black, white and brown to combine blocks of red or navy blue with blacks, pinks, yellows and even florals.
All of this was designed to dress a woman who is "not shy, who is powerful, who was confident and loves clothes," he told AFP.
Gordon said he sought a balance between the "drama" of the colors and color-blocking against the "precision and the discipline about the cut."



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".