LVMH Brand Loewe Names 2 Creative Directors to Replace Anderson

FILE PHOTO: A sign on the exterior of a Loewe luxury boutique operated by LVMH Moet Hennessy Louis SE is pictured in Paris, France, January 25, 2024. REUTERS/Benoit Tessier/File Photo
FILE PHOTO: A sign on the exterior of a Loewe luxury boutique operated by LVMH Moet Hennessy Louis SE is pictured in Paris, France, January 25, 2024. REUTERS/Benoit Tessier/File Photo
TT
20

LVMH Brand Loewe Names 2 Creative Directors to Replace Anderson

FILE PHOTO: A sign on the exterior of a Loewe luxury boutique operated by LVMH Moet Hennessy Louis SE is pictured in Paris, France, January 25, 2024. REUTERS/Benoit Tessier/File Photo
FILE PHOTO: A sign on the exterior of a Loewe luxury boutique operated by LVMH Moet Hennessy Louis SE is pictured in Paris, France, January 25, 2024. REUTERS/Benoit Tessier/File Photo

LVMH label Loewe said on Monday that Jack McCollough and Lazaro Hernandez, the co-founders behind the New York fashion label Proenza Schouler, were appointed as the creative directors of the Spanish luxury house, effective April 7.
They will replace creative director Jonathan Anderson who recently left Loewe after 11 years in the role, Reuters reported.
"Jack McCollough and Lazaro Hernandez will have the entire creative responsibility of all Loewe collections across womenswear, menswear, leather goods and accessories," the statement said.
After first meeting at the Parsons School of Design, McCollough and Hernandez founded Proenza Schouler two decades ago.



H&M First-quarter Sales Weaker Than Expected

A woman is reflected next to the logo of the H&M fashion retailer in the Mall of Berlin shopping center in Berlin, Germany, in this September 25, 2014 file photo. REUTERS/Thomas Peter
A woman is reflected next to the logo of the H&M fashion retailer in the Mall of Berlin shopping center in Berlin, Germany, in this September 25, 2014 file photo. REUTERS/Thomas Peter
TT
20

H&M First-quarter Sales Weaker Than Expected

A woman is reflected next to the logo of the H&M fashion retailer in the Mall of Berlin shopping center in Berlin, Germany, in this September 25, 2014 file photo. REUTERS/Thomas Peter
A woman is reflected next to the logo of the H&M fashion retailer in the Mall of Berlin shopping center in Berlin, Germany, in this September 25, 2014 file photo. REUTERS/Thomas Peter

Swedish fast-fashion retailer H&M reported weaker than expected sales for its first quarter on Thursday and said sales were up 1% so far in March, in a sign of a slow start to its spring and summer season.
H&M reported sales of 55.3 billion Swedish crowns ($5.52 billion) for the December to February quarter, missing analysts' mean estimate of 55.9 billion Swedish crowns, Reuters said.
"Our sales and earnings in the quarter were somewhat weaker than planned – but the first quarter is the smallest quarter of the year for us in terms of sales and margin, and we are confident going forward," CEO Daniel Erver said in a statement.
Increased discounting and marketing investments impacted H&M's profitability in the quarter, the company said, with the operating profit margin falling to 2.2% from 3.9% in the same period a year ago.
Erver, leading H&M for just over a year, is trying to turn its fortunes around and has ramped up marketing, spending on pop stars like Charli XCX to model its collections as he tries to make the brand more desirable and better compete against Zara and Shein.