Burberry Presents Star-studded Moody Autumnal Collection

A person walks past a Burberry store undergoing refurbishment on New Bond Street in London, Britain, March 11, 2023. REUTERS/Henry Nicholls
A person walks past a Burberry store undergoing refurbishment on New Bond Street in London, Britain, March 11, 2023. REUTERS/Henry Nicholls
TT

Burberry Presents Star-studded Moody Autumnal Collection

A person walks past a Burberry store undergoing refurbishment on New Bond Street in London, Britain, March 11, 2023. REUTERS/Henry Nicholls
A person walks past a Burberry store undergoing refurbishment on New Bond Street in London, Britain, March 11, 2023. REUTERS/Henry Nicholls

Burberry's creative director, Daniel Lee, on Monday showed his third brief at London Fashion Week, which is celebrating its 40th anniversary, with an ode to the brand's outdoor heritage for the luxury house's autumn-winter 2024 collection.
Set in a dark marquee in London's Victoria Park where guests sat on big fluffy brown cushions, songs from late British singer Amy Winehouse set the mood for the night.
The star-studded show was attended by actress Olivia Coleman, US Vogue Editor in Chief Anna Wintour, model Jourdan Dunn, and Irish actor Barry Keoghan among others, Reuters.
Monday's show heavily featured outerwear and sporty silhouettes with bomber jackets and Burberry's iconic trench coat that sat alongside flowy beaded and velvet dresses.
It noticeably lacked the brand's new signature 'Knight Blue', the same color featured in its "takeover" of British department store Harrods this month.
Models walked down a grass runway on chunky-soled leather boots, parading leather and faux-fur coats in shades of muted green and brown, oversized stripy suit jackets and trousers with sipper detailing.
British models Naomi Campbell, Agyness Deyn and Lily Cole were among those sashaying on the catwalk.
Burberry's famous beige, black and red check was reimagined into the moody Autumnal color palette and featured on the inside of floor-sweeping skirts with long slits down the side.
Accessories included checked umbrellas, large canvas, leather and faux-fur bags in cream, brown and green - often adorned with gold detailing - and paired with scarves worn over the head.
Lee, who was behind the revamp of Italian fashion brand Bottega Veneta, is facing pressure to produce a winning collection for Burberry which is battling a slowdown in demand for luxury goods.
The 168-year-old company issued a warning on its profits in January, a setback for Chief Executive Jonathan Akeroyd who is seeking to reposition the brand as "modern British luxury".



Kering Posts 11% Drop in Q2 Sales, Sees Weak Second Half

The logo of luxury brand Gucci is seen in Tokyo on June 22, 2021. (AFP)
The logo of luxury brand Gucci is seen in Tokyo on June 22, 2021. (AFP)
TT

Kering Posts 11% Drop in Q2 Sales, Sees Weak Second Half

The logo of luxury brand Gucci is seen in Tokyo on June 22, 2021. (AFP)
The logo of luxury brand Gucci is seen in Tokyo on June 22, 2021. (AFP)

Kering reported a bigger-than-expected drop in second-quarter sales and forecast a weak second half, as the French luxury group struggles to revive its key label Gucci and worries grow about a prolonged downturn in high-end spending.

Sales at the French luxury group which owns labels Gucci, Boucheron and Balenciaga, fell to 4.5 billion euros ($4.9 billion), an 11% drop on an organic basis, which strips out currency effects and acquisitions.

The figure was below analyst expectations for a 9% drop, according to a Visible Alpha consensus.

It also said second-half operating income could fall by around 30%, following a 42% drop in the first half.

Sales at Gucci fell 19%, showing no improvement from the first quarter, and below analyst expectations for a 16% decline, according to a Visible Alpha consensus.

Kering has been revamping Gucci, the century-old Italian fashion house which accounts for half of group sales and two-thirds of profit.

Minimalist designs from new creative director Sabato de Sarno, which began trickling into stores earlier this year, are key to the design reset and push upmarket, in a bid to cater to wealthier clients who are more immune to economic headwinds.

Kering chief financial officer Armelle Poulou told reporters that the designs had been well received and the rollout was on track.

But the efforts have been complicated by a downturn in the global luxury market, while China's rebound - traditionally Gucci's most coveted market - was clouded by a property crisis and high youth unemployment as Western markets came down from a post-pandemic splurge.

Earnings from sector bellwether LVMH on Tuesday missed expectations as sales rose 1%, offering few signs that a pickup is around the corner, sending shares in luxury goods companies down on Wednesday. Kering traded at its lowest level since 2017.