Armani, Kapoor Bring Tranquil Close to Milan Fashion Week

A model presents a creation of Giorgio Armani during the Autumn-Winter 2023-2024 Men's fashion show as part of the Milan Fashion Week on January 16, 2023. (AFP)
A model presents a creation of Giorgio Armani during the Autumn-Winter 2023-2024 Men's fashion show as part of the Milan Fashion Week on January 16, 2023. (AFP)
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Armani, Kapoor Bring Tranquil Close to Milan Fashion Week

A model presents a creation of Giorgio Armani during the Autumn-Winter 2023-2024 Men's fashion show as part of the Milan Fashion Week on January 16, 2023. (AFP)
A model presents a creation of Giorgio Armani during the Autumn-Winter 2023-2024 Men's fashion show as part of the Milan Fashion Week on January 16, 2023. (AFP)

Milan Fashion Week closed four days of mostly menswear previews for next fall and winter on a note of tranquility.

Italian fashion world stalwart Giorgio Armani took his admirers inside Milan’s hidden courtyards, islands of calm concealed from general view within the walls of the city’s austere neoclassical architecture.

Indian designer Dhruv Kapoor, a relative Milan newcomer, hopes to promote an interior journey with a new collection in which he seeks to reconcile alter-egos – be they romantic, aggressive or pensive – as a way of healing.

While creating similar moods, the presented designs couldn’t have been more aesthetically opposite: one a study in tailoring and muted hues, the other an explosion of color on silhouettes that mix the oversized with the petite.

Highlights from Monday’s shows:

Dhruv Kapoor promotes healing

Kapoor has a message of radical self-acceptance in his collection, which combined floral prints promoting stillness, cartoon images of Godzilla representing aggression and lace details for romanticism.

The designer, through his unisex collection dubbed “The Embracer,” advocates embracing all of our parts, even those viewed negatively. Not that he thinks the solution lies in wardrobing.

“It’s a very simple process. Look in the mirror and tell yourself, ‘I love you.’ And see how the magic starts to shift. You just need to admire yourself just the way you are,” Kapoor said backstage, adding that he has felt a dramatic shift since adopting the practice. “I don’t know how it comes. I never dwell on the how.”

Broad-shoulder suit jackets were combined with tight trousers that flare into a bell bottom. Oversized sweatshirts were layered with cotton tunics and a sheer lace pant. Godzilla raged on the front of a button-down shirt, while a silver pillow jacket had reptilian spikes down the back.

“Godzilla also has a very negative, monstrous thing attached to it,” Kapoor said. But that should not impede acceptance, he insisted.

Crystals on knitwear, suits and jackets hold energy that Kapoor said can be activated to have a positive impact on the wearer’s life. Instructions are included with the garments.

Models traversed the Tiepolo room in the 18th century Clerici Palace beneath images that included demons, walking to the beat of modems connecting mixed with classical music and hip hop. The mashup gives “us a whiff of the past and the future,” Kapoor said. “And we are birthing a new present.”

Kapoor also promotes healing for the environment. Nearly two-thirds of his collection is either upcycled, employing leftover textiles that otherwise would be discarded, or recycled. For this season, all of his suit fabrics are made from recycled plastics.

Armani’s hidden Milan

Hidden from view in Italy’s frenetic fashion and finance capital are quiet gardens ensconced in Milan’s courtyards.

Giorgio Armani suggests these are places to pause and take stock before emerging for business or play, this season on soft footwear with rubber soles.

Models walked slowly to a soundtrack of Italian pianist-composer Ludovico Einaudi soundtrack while wearing suits and separates that were deeply textured, projecting self-assuredness in the 88-year-old designer’s trademark soft-silhouette.

The color palette consisted of soft earthy tones set off by olive and forest green with a surge of crimson in sportswear and a final smattering of weekend dandy looks. Flannel cargo pants were paired with soft sweaters. Disciplined double-breasted suits befitted a negotiating table. Big gake furs, including one in tiger print, lightened the quiet mood.

Armani conceded that flashes of skin on other runways this season had a sensuality. But he stuck by his conviction: “You can wear anything you want, but when you are at an important table, you need to wear an important suit.”

His one transgression: ties that arch under the knot, as if pulled loose, and worn tucked into vests, “to give space to relax.”

“Stiff is not good,” the designer added.



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".