Louis Vuitton parent company LVMH fined 8 million Euros in Hermes case
Well, during the shows, we could start around 8.30am, work all night and not go to bed at all. Sometimes I manage to go home and take a shower before the show starts at 10am.’ De Libran with Christel Takigawa and Sofia Coppola Love and perfectionism, she says, keep her going, ‘and coffee and lots of water’. De Libran and Jacobs only met at her job interview, though both were mutual friends of the film director Sofia Coppola, whom de Libran had met in Paris at the ‘baby gym’ with Balthazar. One of the first pieces she produced at Louis Vuitton was the wonderfully understated Sofia bag, which has since been seen on the arm of every celebrity from Kate Moss to Kirsten Dunst. ‘I bumped into Sofia on the way to meet Marc, which felt like a sign,’ she smiles. ‘But from our first conversation I felt like I’d known him for so long. We shared so many references.’ While the New York-born Jacobs has become a part-time naturalised Parisian, dividing time between his own Marc Jacobs labels in America and Vuitton in Paris, de Libran’s journey went the other way. When she was eight years old, her father decided to move the family to America. ‘He was having his American dream moment,’ says de Libran. ‘He sold our entire estate near Aix-en-Provence – the house had been in the family since the 1500s.’ If this sounds dramatic, it is perhaps explained by the fact that he lost his father when he was 14 and his mother when he was 20.
Welcome To Poland’s First Louis Vuitton Store: “Open Your Bag Please”
Even North West’s changing bag is designer! Kanye takes some time out from daddy duties as he heads out for lunch toting a Louis Vuitton holdall
Versace, a maker of $2,795 skimpy cocktail dresses, says Russian customers keep coming back precisely because it hasnt modified its style. The Russian market seems to appreciate our consistency, Versace said by e-mail. While Russians still do much of their spending on luxury goods abroad, attracted by prices that are as much as 50 percent cheaper, brands are expanding in the country as the middle class widens, according to Bain. Retail space devoted to selling luxury goods in the country has more than quadrupled to 1.65 million square meters in the last decade, estimates Moscow-based Fashion Consulting Group. Disposable incomes have risen 10-fold to 22,800 rubles since 2000, government data show, while the number of millionaire households has widened to 180,000 from 158,000 in 2011, Boston Consulting Group estimates. Russia is a great place to be, said Douglas Mandel, Christian Dior Coutures general manager in the country.
After much name calling, accusation throwing and general slinging of verbal mud, French regulatory board AMF condemned LVMH for ‘failing to follow market rules’, when it discretely accumulated a significant stake in Hermes stocks. Citing the “seriousness of the successive breaches of public disclosure requirements, which consisted in concealing each stage of LVMH’s stake-building in Hermes,” as the fuel behind the hefty fine, the AMF appear to be in no doubt that there’s been foul play. LVMH however, continues to disagree. Brandin both the claim and punishment to be ‘unfounded’, the conglomerate has said it will appeal against the decision, despite further cases being already lodged against it by, yep you guessed it, Hermes. Though this chapter may be settled for now, expect more drama as the cases continue to pile up! Thoughts?
Vuitton Tones Down Bling in Russia as Wealthy Go Discreet
That’s seven times more than Poles spend per year on luxury goods in total (excluding cars), according to KPMG. Nevertheless, the Polish luxury market enjoyed a 50% growth during 2000-2010, increasing much faster than the global luxury market, which is currently worth 210 billion euros. “The Polish market recorded a solid rise, but that is not the only element we take into account,” Eggs says. “Demand and potential are also important to us, and the latter is quite big in Poland. About 30% of luxury labels still arent available here.” No discounts, no sales Eggs is not keen on talking about prices, although he reveals that the cheapest thing in the Warsaw shop is a calendar refill 149 zlotys (35 euros). The lowest price for a bag is 2,100 zlotys (492 euros), while the most expensive piece from the exotic series made of python, ostrich or crocodile leather goes for more than 85,000 zlotys (19,920 euros). When I ask how many of those bags they hope to sell, he answers: 2,700 BMW cars were sold last year in Poland. Thats quite a lot considering the price of these cars is 50,000 euros. Fifty thousand euros for a car is not the same as 20,000 for a handbag, I point out. Ask women.