Ukraine Designer Evokes the Pain of War at NY Fashion Show

The flag of Ukraine is projected on a wall at a showcase of designs by Svitlana Bevza in New York on September 13, 2002 Yuki IWAMURA AFP
The flag of Ukraine is projected on a wall at a showcase of designs by Svitlana Bevza in New York on September 13, 2002 Yuki IWAMURA AFP
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Ukraine Designer Evokes the Pain of War at NY Fashion Show

The flag of Ukraine is projected on a wall at a showcase of designs by Svitlana Bevza in New York on September 13, 2002 Yuki IWAMURA AFP
The flag of Ukraine is projected on a wall at a showcase of designs by Svitlana Bevza in New York on September 13, 2002 Yuki IWAMURA AFP

Fashion shows rarely begin with a moment of silence, but that is what Ukrainian designer Svitlana Bevza did Tuesday night for her country to decry the Russian invasion.

She went on to present a collection rich in patriotic symbols.

Bevza is an old hand at New York's Fashion Week, where she has appeared since 2017. She is based in Kyiv and has her workshops there but was forced to leave after the invasion in late February, and its endless explosions and sirens, to protect her two children.

Her husband Volodymyr Omelyan, a politician who was a government minister from 2016 to 2019, stayed home to fight. You can see him on her Instagram account, dressed in military garb and carrying a gun, AFP reported.

Bevza's spring-summer collection, entitled 'Fragile motherland" and unveiled at a building on Wall Street, was highly political. The blue and yellow Ukrainian flag was projected onto a wall.

"Some people maybe do not understand that this is going for real. And today is the 202nd day of war in Ukraine. And there's thousands of people dead," she told AFP.

"I was forced to leave the country with my kids. And my husband is at war," she added.

She presented tops that are sensual when worn with skirts or pants but still recall bullet-proof vests. Some look like shields that expose the shoulders and navel.

Grains of wheat -- symbols of fertile Ukraine as a bread basket to the world -- have a narrative stream through the collection. A Bevza necklace depicts them, charred black because "a lot of wheat was burned by Russians," she said.

The ample cut of some of her skirts also recalls the fit of Ukrainian farm women harvesting wheat.

"There is a deep sacred meaning of the bread itself and the wheat that came through centuries," she said, pointing to famine in the 1930s that was blamed on Stalin.

"What we protect now, we protect the fertile lands. And what we are basically fighting for is to live free, to live in peace in our land," the designer said.



LVMH Shares Drop after Missing Second-quarter Estimates

A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights
A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights
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LVMH Shares Drop after Missing Second-quarter Estimates

A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights
A man walks past a shop of fashion house Dior in Paris, France, April 15, 2024. REUTERS/Manon Cruz/File Photo Purchase Licensing Rights

Shares in LVMH (LVMH.PA) fell as much as 6.5% in early Wednesday trade and were on track for their biggest one-day drop since October 2023 after second-quarter sales growth at the French luxury goods giant missed analysts' consensus estimate.

The world's biggest luxury group said late Tuesday its quarterly sales rose 1% year on year to 20.98 billion euros ($22.76 billion), undershooting the 21.6 billion expected on average by analysts polled by LSEG.

At 1000 GMT, LVMH's shares were down 4.5%.

The earnings miss weighed on other luxury stocks, with Hermes (HRMS.PA), down around 2% and Kering (PRTP.PA), off 3%.

Kering is scheduled to report second-quarter sales after the market close and Hermes reports on Thursday, Reuters reported.

Jittery investors are looking for evidence that the industry will pick up from a recent slowdown, as inflation-hit shoppers hold off from splashing out on designer fashion.

JPMorgan analyst Chiara Battistini cut full year profit forecasts by 2-3% for the group, citing softer trends at LVMH's fashion and leather goods division, home to Louis Vuitton and Dior.

"The soft print is likely to add to ongoing investors’ concerns on the sector more broadly in our view, confirming that even best-in-class players like LVMH cannot be immune from the challenging backdrop," said Battistini in a note to clients.

The weakness of the yen, which has prompted a flood of Chinese shoppers to Japan seeking bargains on luxury goods, added pressure to margins, another source of concern.

Equita cut 2024 sales estimates for LVMH by 3% - attributing 1% to currency fluctuations - and lowered its second half organic sales estimate to 7% growth from 10% growth previously.

The lack of visibility for the second half beyond the easing of comparative figures - as the Chinese post-pandemic lockdown bounce tapered off a year ago - is unlikely to improve investor sentiment to the luxury sector, Citi analyst Thomas Chauvet said in an email to clients.

"No miracle with the luxury bellwether; sector likely to remain out of favour," he wrote.

Jefferies analysts said the miss came as investors eye Chinese shoppers for their potential to "resume their pre-COVID role as the locomotive of industry growth and debate when Western consumers will have fully digested their COVID overspend".

LVMH shares have been volatile since the luxury slowdown emerged, and are down about 20% over the past year, with middle-class shoppers in China, the world's No. 2 economy, a key focus as they rein in purchases at home amid a property slump and job insecurity.

LVMH offered some reassurance, with finance chief Jean-Jacques Guiony telling analysts during a call on Tuesday that Chinese customers were "holding up quite well," while business with US and European customers was "slightly better".