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
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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.



Sports Brand Puma Reports Flat First-Quarter Sales, Maintains 2025 Outlook 

A Puma logo is seen on a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. (Reuters)
A Puma logo is seen on a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. (Reuters)
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Sports Brand Puma Reports Flat First-Quarter Sales, Maintains 2025 Outlook 

A Puma logo is seen on a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. (Reuters)
A Puma logo is seen on a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. (Reuters)

German sportswear brand Puma reported flat first-quarter sales and a decline in its profit margin on Thursday, and maintained its 2025 outlook, excluding any impact from US tariffs.

Puma replaced its CEO last month after a string of profit warnings as the company struggled to drive consistent sales growth, with its new shoes ranges like the Speedcat not doing as well as the company had expected.

Shares were up around 2% in early trading on Thursday. Puma's stock is down 47% since the start of the year, as missed sales and profit expectations weigh.

First-quarter sales of 2.08 billion euros ($2.35 billion) were slightly better than analysts' average forecast of 2.04 billion euros, and up 0.1% from the first quarter of last year.

Weaker sales to retailers in the US and China drove Puma's wholesale business - its main sales driver - down by 3.6%, but stronger online sales helped its direct-to-consumer business grow 12% to 546.5 million euros.

Puma has named former Adidas sales chief Arthur Hoeld as its new CEO to turn performance around. The board is leading the company until Hoeld takes over on July 1.

The company's gross profit margin for the first quarter declined by 0.6 percentage points to 47%.

Puma stuck to its 2025 outlook for "low-to mid-single-digit" sales growth, but said that excludes any impact from US tariffs.

It has already reduced its US imports from China, which are subject to tariffs of 145%, Chief Financial Officer Markus Neubrand said.

Like its competitors Adidas and Nike, Puma would be hit hard if US President Donald Trump reinstates steep tariffs on Southeast Asia, currently paused until July.

Puma buys 28% of its products from factories in China, with Vietnam a close second at 26%, and Cambodia producing 16%.

It plans to cut 500 corporate positions globally by the end of the second quarter as part of a cost-cutting drive, Neubrand said in March.