Kimono Fashion Unfurls in New York Exhibition

A Kimono is displayed during a press preview for ”Kimono Style: The John C. Weber Collections” at The Met Fifth Avenue in New York on June 6, 2022. (AFP)
A Kimono is displayed during a press preview for ”Kimono Style: The John C. Weber Collections” at The Met Fifth Avenue in New York on June 6, 2022. (AFP)
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Kimono Fashion Unfurls in New York Exhibition

A Kimono is displayed during a press preview for ”Kimono Style: The John C. Weber Collections” at The Met Fifth Avenue in New York on June 6, 2022. (AFP)
A Kimono is displayed during a press preview for ”Kimono Style: The John C. Weber Collections” at The Met Fifth Avenue in New York on June 6, 2022. (AFP)

Kimonos, covered with polka dots, Cubist patterns and big-eyed anime characters, are on display in New York's Metropolitan Museum of Art, showing how East and West influenced each other to transform the traditional Japanese garment.

"Usually when you think of fashion, you think of big brands made in the Western world. But the kimono also had a fashion system going back to the 17th century," said Monika Bincsik, Diane and Arthur Abbey Associate Curator for Japanese Decorative Arts at the museum.

More than 60 kimonos are on display alongside Western dresses in the first show co-hosted by the Met's Japanese Gallery and Costume Institute.

"The Japanese kimono had a big influence on Western fashion going back to the early 20th century," Bincsik said.

For example, French couturier Paul Poiret created a kimono coat, while Western abstract art inspired the bold geometric patterned "Meisen" kimonos of the early 1900s.

The exhibit runs through Feb. 20.



Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
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Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)

Birkenstock beat market expectations for fourth-quarter results on robust demand for its pricey footwear and forecast a recovery in margins in fiscal 2025, sending the company's shares up 7% on Wednesday.

With fresh styles becoming a priority for consumers, Birkenstock's sandals and closed-toe clogs have drawn new customers both at its own stores and at retailers.

The company bypassed steep discounting trends evident during the holiday shopping season, which Birkenstock executives said was off to a strong start globally.

"The expansion of ranges into more closed-toe silhouette has helped boost revenue, given that they offer multi-season wear," Susannah Streeter, head of money and markets at Hargreaves Lansdown, said.

Germany-based Birkenstock's average selling prices across its product range were up 8% in fiscal 2024, in part due to higher sales of clogs, the company said, adding that closed-toe styles now made up about a third of its business.

The company has invested in expanding its global store presence and increasing manufacturing capacity this year to meet demand.

While it led to a 330-basis point drop in gross margins in fiscal 2024, Birkenstock forecast a recovery in margins in fiscal 2025 as it ramps up production from new facilities.

The company reported fourth-quarter revenue of 455.8 million euros ($478.27 million), compared with the average analyst estimate of 439.2 million euros, according to data compiled by LSEG.

However, Birkenstock's forecast for fiscal 2025 revenue to increase between 15% and 17% was below estimates of 17.5% growth.

"It would appear with this incredibly healthy growth, the company is choosing to adopt a conservative approach that they expect to be able to meet and beat," BMO Capital Markets analyst Simeon Siegel said.

On an adjusted basis, Birkenstock earned 0.29 euro per share, beating estimates of 0.26 euro.