Louis Vuitton Holds 'Voyager' Fashion Show in Shanghai

A logo of Louis Vuitton is displayed on a Louis Vuitton store on the Champs-Elysees avenue in Paris, France, March 30, 2024. (Reuters)
A logo of Louis Vuitton is displayed on a Louis Vuitton store on the Champs-Elysees avenue in Paris, France, March 30, 2024. (Reuters)
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Louis Vuitton Holds 'Voyager' Fashion Show in Shanghai

A logo of Louis Vuitton is displayed on a Louis Vuitton store on the Champs-Elysees avenue in Paris, France, March 30, 2024. (Reuters)
A logo of Louis Vuitton is displayed on a Louis Vuitton store on the Champs-Elysees avenue in Paris, France, March 30, 2024. (Reuters)

Louis Vuitton debuted its newly-labeled "Voyager" traveling show in Shanghai on Thursday night, showing off asymmetric hemlines and boxy leather vests in the country that is one of the brand's key markets.
More than 1,000 invitees, including international celebrities like Cate Blanchett and local stars such as Zhou Dongyu and Jackson Wang, took in the pre-fall collection designed by women's artistic director Nicolas Ghesquière, Reuters said.
The show was held in the cavernous concrete expanse of the Atelier Deshaus-designed Long Museum, in the riverside West Bund art district. It included pieces made in collaboration with Beijing-based artist Sun Yitian, who painstakingly paints photographs of inflated plastic animals, including ducklings, cats and rabbits. Reprints of her works were incorporated into the opening designs of the show.
In the days leading up to the show, images of Sun's work popped up around Shanghai, China's most international city, projected onto the exterior of malls and plastering walls in hip shopping and lifestyle districts.
For Louis Vuitton, the largest luxury brand in the LVMH stable, China continues to represent one of the world's most important luxury opportunities, even as a broader economic slowdown and consumer malaise stymie growth.
LVMH said on Tuesday that year-on-year sales for the quarter ending in March rose 3% on an organic basis, but purchases by Chinese shoppers globally grew 10%.
Last year, Louis Vuitton's men's line, helmed by Pharell Williams, staged a large-scale show in Hong Kong.



Italy’s Benetton Plans Restructuring as Losses Mount, Sources Say

A logo of United Colors of Benetton is seen in front of a store in Rome, Italy, July 21, 2020. (Reuters)
A logo of United Colors of Benetton is seen in front of a store in Rome, Italy, July 21, 2020. (Reuters)
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Italy’s Benetton Plans Restructuring as Losses Mount, Sources Say

A logo of United Colors of Benetton is seen in front of a store in Rome, Italy, July 21, 2020. (Reuters)
A logo of United Colors of Benetton is seen in front of a store in Rome, Italy, July 21, 2020. (Reuters)

Italy's Benetton family is readying plans to address mounting losses at its eponymous clothing retailer, including parting ways with CEO Massimo Renon after four years, two people close to the group said on Monday.

The board of the clothing group is expected to meet on Tuesday to discuss a net loss of around 230 million euros ($250 million) for 2023 which includes impairments, a source with knowledge of the matter told Reuters.

That compares with a net loss of 81 million euros in 2022, when revenues totaled 1 billion euros.

Benetton shareholders are then scheduled to meet on June 18, at which time Renon's CEO mandate will not be renewed, the two sources said.

Renon, who built his career in the eyewear industry working at Luxottica, Safilo and Marcolin, declined to comment.

The Benettons own the clothing group made famous by its colorful jumpers and provocative advertising campaigns through their Edizione holding company.

Edizione is preparing to back a restructuring of the clothing retailer and to inject 260 million euros, one of the sources said, adding that Edizione would exert closer control over the group.

Benetton has struggled to withstand growing competition from fast-fashion giants such as Zara owner Inditex which have developed a nimbler production and distribution model, able to more quickly respond to consumers' changing tastes.

In an interview with Italian newspaper Corriere della Sera on Saturday, Chairman Luciano Benetton, one of its founders, said the group had been expected to break even in 2023 under a three-year strategic plan, but a worse than expected financial situation had emerged in recent months.

Luciano Benetton told Corriere that current management, led by Renon, had surprised the board by unveiling a "dramatic" shortfall.

Founded in 1965 by Italy's Benetton family as a clothing manufacturer, Benetton expanded to trade through around 4,000 shops globally, according to its website. After listing the group in Milan in 1986, the Benettons took it private in 2012, the last year in which it made a profit.