Versace Reaches for the Stars with Glittery Hollywood Show

Alexander Edwards, left, and Cher arrive at the Versace Fall/Winter collection presentation on Thursday, March 9, 2023, at the Pacific Design Center in West Hollywood, Calif. (Photo by Jordan Strauss/Invision/AP)
Alexander Edwards, left, and Cher arrive at the Versace Fall/Winter collection presentation on Thursday, March 9, 2023, at the Pacific Design Center in West Hollywood, Calif. (Photo by Jordan Strauss/Invision/AP)
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Versace Reaches for the Stars with Glittery Hollywood Show

Alexander Edwards, left, and Cher arrive at the Versace Fall/Winter collection presentation on Thursday, March 9, 2023, at the Pacific Design Center in West Hollywood, Calif. (Photo by Jordan Strauss/Invision/AP)
Alexander Edwards, left, and Cher arrive at the Versace Fall/Winter collection presentation on Thursday, March 9, 2023, at the Pacific Design Center in West Hollywood, Calif. (Photo by Jordan Strauss/Invision/AP)

Decamping from her usual base in Milan to show her wares in Los Angeles — only three days before the Oscars — Donatella Versace says she was inspired by the energy, glamour and power of Hollywood. She had plenty of that, but needed one more thing to make it all work: good weather.

And so, with rain expected on Friday, Versace was forced move her show ahead by a day. It may have been chaotic, but it was the right move, The Associated Press said.

Her star-studded runway show Thursday took place on a cool but gorgeous Los Angeles evening on a spectacular rooftop overlooking the snow-capped San Gabriel mountains, sleek skyscrapers, and the Hollywood hills. Oh, and daylight ceded to darkness right as the show ended — just in time to turn on the floodlights, blast “Let’s Go Crazy” by Prince and head to cocktails.

The sun was still out when the crowd began making its way up to the roof of the imposing Pacific Design Center on Melrose Avenue, with its distinctive blue glass exterior.

Guests included a cross-section of the music, film, fashion and sports worlds: Cher was there, as was Elton John, Dua Lipa, Miley Cyrus, and Lil Nas X. From cinema, there were two best supporting actress Oscar winners — Ariana DeBose and Anne Hathaway — plus a favorite for best supporting actor this year, Ke Huy Quan. From sports, former NBA star Dwyane Wade was there with wife Gabrielle Union.

Attendees jostled to take selfies with the spectacular view behind them, and staffers warned them not to step too far backward and fall off the building.

In creating her 2023 fall-winter line, Versace harked back to a 1995 collection of Atelier Versace, the label’s couture line, with a campaign starring Madonna. Color choices began with black and included caramel and chocolate, as well as apricot, turquoise and pink. Prints included an animal print from the Versace archive and a falling flower motif.

Supermodel Gigi Hadid opened the show in a black, hourglass jacket and knee-length pencil skirt, a sleek tailored look that gradually segued to more glittery ensembles. Naomi Campbell came later, in a slinky black dress with elbow-length gloves.

After a cascade of black outfits for both women and men, a sudden burst of bright pink surfaced, in a wool cropped jacket and miniskirt, then a minidress in a tangerine hue. More than halfway through the show came the luxurious, satiny printed dresses — often minis, and accompanied by those elbow-length gloves for added glamour.

Streetwear was nowhere to be seen, and the long gloves seemed to evoke the Golden Age of Hollywood, which began in the mid-1920s and continued for several decades. Paired with the up-to-there minis, and often accessorized with big sunglasses, they aimed to create what Versace described as “energy from clashing Golden Age glamour with contemporary attitude, and confident power."

How confident? The designer has called this collection a form of armor. As for Los Angeles, Versace has called it “a natural home for us" — a place that makes her feel free and close to nature.
Los Angeles is also, of course, a city of stars — and never more than during Oscar week. The moments before the show felt like a dry run for the Oscars red carpet, with celebrities reuniting or meeting for the first time.

Dua Lipa was shown on social media meeting and sitting next to Cher. And one set of stars seemed particularly thrilled to be meeting: Ke Huy Quan of “Everything Everywhere All at Once” and Hathaway, who each expressed their fandom for the other.

“I’m fainting!” Hathaway said when she laid eyes on Quan. “Everyone is so happy for you!”

Quan replied: “I love you so much."



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.