Louis Vuitton burns all unsold bags each year plus other unusual facts
And it does thus raise the question, wheres all the idle talk coming from ? Lets start with the change theorists. First, their reasoning goes, Bernard Arnault, LVMH chairman, is known to respect Ghesquiere enormously, and the designer was reportedly approached about the Dior job (which eventually went to Raf Simons) after John Galliano was fired. Second, Delphine Arnault is now one of the deputy general managers at Vuitton, and she is close to Ghesquiere. Third, the new Vuitton CEO, Michael Burke , is known to have plans to bulk up the ready-to-wear business, and for that, a new approach may be necessary, especially because recent sales in growth markets like China have seen a real slowdown. Fourth, Ghesquiere has been very vocal about his disappointment with his former employer, Kering and what better slap in the face than to lend your talents to their single biggest competitor?
As I noted recently, the French vendor of elite handbags, clothing, jewelry and champagne has lost some of its shine. While it is still the worlds number one luxury brand, it has given up luster to rivals like Prada and Gucci. Luster is everything in the allure of the luxury world, so LVMH Moet Hennessy Louis Vuitton (the full name-dropping moniker of the company) is doing what it can to polish up. Its latest move: Its spending $2.56 billion to acquire 80 percent of Loro Piana, an exclusive Italian textile firm and clothier that hails from near Lake Como, a place where George Clooney hangs out. Loro Piana represents the opposite of the fast fashion trend epitomized by the likes of Zara and H&M.
Bag a bargain! Hermès, Chanel and Louis Vuitton among 84 designer handbags up for online-only auction from 2pm TODAY
expresses ‘deep concern’ about South Sudan violence (Reuters) 02:36 Obama emphasizes U.S. commitment to Syrian rebels in call to Saudi king (Reuters) 01:44 Third person dies in Asiana air crash, San Francisco hospital says (Reuters) 00:43 CNN report: Israel behind recent Syria strike, U.S. officials say (Haaretz) 00:12 Bomb attack in coffee shop in Iraqi city of Kirkuk kills 31, police say (Reuters) 22:59 Saudi princess arrested in human trafficking case (AP) 22:11 Egypt turns back flights from Syria after tighter visa rules, UN refugee agency says (Reuters) 21:19 U.S. State Department says U.S. ambassador to Egypt met with Egypt’s interim president (Reuters) 20:34 U.S. says ‘disappointed’ that Russia facilitated meeting between Snowden and activists (Reuters) 19:49 Poland’s parliament votes to uphold ban on kosher slaughterhouses (Haaretz) 19:07 British police investigating explosion outside mosque as ‘terrorist incident’ (Reuters) 18:49 Iran denies dissident group’s allegation that it is secretly building new nuclear facility (Reuters) 18:05 Edward Snowden says will submit request for asylum in Russia today (Reuters) 17:04 U.S. Homeland Security chief set to resign, source says (Reuters) 16:00
Louis Vuitton’s “slow” road back to prestige
Believe it or not, designer label Louis Vuitton destroys their unsold bags in order to keep their prices high, according to this collection of unusual trivia. Did you know that the offspring of two pairs of identical twins are genetic siblings? Or that cats’ kidneys are so efficient they can survive drinking seawater? Check out the gallery below for other unusual internet trivia. Click on thumbnails for larger image
Louis Vuitton’s bags to riches make aliyah – just in time for the Israeli summer
To by and Hermes bag today could mean being on a waiting list for months but now Christie’s offers the opportunity to snap one up immediately. Here, Femail exclusively shows you a selection of the bags going to the highest bidder. Christie’s Selection Brights lot features some eye-popping summer shades to spruce up tired wardrobes Top seller: Lot 33, the 2011 35cm amethyst matte crocodile Birkin bag has a whopping final sale estimate of up to 26,000 Two Hermes beauties: A 2010 rouge cerise bag with padlock, keyfob, dustbag and box, estimate: 6,000 – 8,000 (left) and a 2010 jaune d’or and pumpkin bag, estimate: 5,000 – 7,000 (right), both 35cm Epsom leather Birkins with silver palladium hardware Lot 54: A 42cm 2007 monogram canvas ellipse bag by Louis Vuitton, with goldtone metal hardware and fittings for a shoulder strap, estimate 500 – 700 The highest lot in the sale is an amethyst matte crocodile Birkin Hermes bag with an estimate of 24,000 – 26,000. The auction house have said they expect the entire auction total to raise in the region of 400,000. The handbags feature among an enticing collection of 102 exquisite items, including a variety of day wear, larger luggage, jewellery and limited edition pieces by iconic labels including Chanel and Louis Vuitton. Bidding opens today and will run for 10 days providing opportunities for those around the world to land some of the most sought-after designs ever created, with some dating back to the 1950s. One Direction polish off the bullies! Boy band launch varnish and stationery range to fight bullying in schools Highlights include 40 classic Birkin and Kelly bags covering a spectrum of bright spectacular colours to brighten up summer wardrobes and a stunning selection of exotic leathers.
Sorry Louis Vuitton, China’s No Longer Into You
To be fair, of course, Louis Vuitton is not licked yet. Not by a long shot. Its firmly in the No. 2 spot. David Sadigh, Founder & CEO of Digital Luxury Group,said Louis Vuittons weak first quarter had a lot to do with China being over-sold the brand. Brands from different segments ranging from Chanel to Coach or Burberry are continuing to grow. The Chinese market is still developing.