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Elon Musk’s private messages with fellow billionaires

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In Musk v. Twitter, part of the business life of the world’s richest man has been revealed.

The private messages exchanged with his inner circle immerse us in his process when he conceives an idea.

The letters were released by the Delaware Chancery Court as part of proceedings between the parties.

The revelation of these private messages is undoubtedly one of the reasons that prompted the billionaire to do so put it back On the table is his offer to take over the platform for $44 billion. And claim it Twitter (TWTR) Drop the legal case in return.

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Louis Vuitton Selects Shanghai as First Home & Furniture Store By Reuters

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© Reuters. FILE PHOTO: A model presents a Louis Vuitton bag as part of the Spring/Summer 2023 collection show during Men’s Fashion Week in Paris, France, June 23, 2022. REUTERS/Benoit Tessier/File Photo

by Casey Hall

SHANGHAI (Reuters) – Louis Vuitton on Friday announced plans to open a dedicated furniture and homewares store in Shanghai, a world first for the French luxury brand as it aims to expand its lifestyle offerings to affluent Chinese clients.

The appointment-only showroom, which will open on Monday, is housed in a three-story, century-old mansion behind Nanjing Street, the city’s premier upscale shopping strip.

Louis Vuitton, part of LVMH, said in a statement that the showroom will be trialled for several months as a pop-up and if successful will become a permanent feature.

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While no price tags were shown in the store during a media preview, a Louis Vuitton employee said a brightly colored hanging cocoon chair designed by the Campana brothers cost more than 700,000 yuan ($97,860) and a small lamp that looked like a glass milk bottle. Wrapped with leather straps, it costs 10,500 yuan.

A smaller side building is dedicated to showcasing the designs of Frank Chu, the first mainland Chinese designer hired by Louis Vuitton to collaborate on the Objet Nomades collection, where the collections of furniture and housewares are known.

Finding new avenues for growth, particularly among affluent consumers, is becoming increasingly important for luxury brands in China as luxury spending is under pressure from COVID-19 restrictions, a downturn in the real estate market, and widespread economic uncertainty.

Louis Vuitton dipped its toes in a more lifestyle-oriented offering in China last month when it opened a boutique in the southwestern Chinese city of Chengdu that included exhibition space and a restaurant.

said Bobby Verghese, a consumer analyst at GlobalData, whose firm believes sales in China’s home sector will grow to $782 billion by 2026.

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Verghese sees housewares as a good bet for Louis Vuitton, especially in China.

“Unlike their predecessors who prioritized privacy, Gen Y digital immigrants and Gen Z digital natives are not averse to flaunting their lifestyles on social media,” Verghese said. “LMVH aims to gain an early bird advantage in this emerging space.”

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The cryptocurrency is filled with FTX’s Bankman-Fried

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Within the popular trade phrase ESG, which stands for Environment, Social and Governance, one message could have sounded the alarm about FTX.

This is the letter G which stands for Governance Practices or Good Governance.

C-suites can mean diverse and diverse groups of investors, welcoming people of different socioeconomic backgrounds and minorities of color and sexuality to the table. In other words, it means avoiding a “one size fits all” between those who run companies and those who write the big investment checks to enable entrepreneurs to realize their ideas and visions.

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Gucci faces the daunting task of replacing the best designer by Reuters

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© Reuters. FILE PHOTO: Gucci designer Alessandro Michele arrives at the Green Carpet Fashion Awards during Milan Fashion Week on September 24, 2017. REUTERS/Stefano Relandini/FilePhoto

2/4

Written by Mimosa Spencer

PARIS (Reuters) – Alessandro Michele’s sudden departure from Gucci, the flamboyant designer once a favorite of Harry Styles and Lady Gaga, has piled more pressure on the owner. keyring (EPA:) as it faces slowing revenue growth at the Italian fashion house.

News of the creative director’s exit after seven years comes as Kering seeks to reinvigorate the label, which accounted for two-thirds of its parent company’s profits last year, and ahead of its lucrative holiday shopping season.

Sources told Reuters that tensions were high between the designer and the company’s management.

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When announcing his departure on Wednesday, Michel noted “different views each of us may have.”

Kering Chairman and CEO François-Henri Pinault hailed the designer’s tenure as an “amazing moment” in Gucci’s history. He did not name his successor.

Without an obvious replacement, Michelle’s exit created a void that the label needed to fill quickly, analysts said.

“This raises a few question marks in our opinion about the execution and evolution of the brand in the coming months, leaving more uncertainty about the timing of the acceleration of brand momentum,” JPMorgan analyst Chiara Battistini said in a research note Thursday. .

Analysts at Jefferies, noting a possible “deep rethink” of the label at Kering, said that Michelle’s departure is “more than just the departure of one of the most popular designers of the past decade”.

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“The next step will necessarily be more complex now,” they added.

Shares in Kering, worth more than 66 billion euros, have outperformed its competitors in recent years. They have lost a quarter of their value this year.

Graphic: Gucci Stocks Are Losing Fashion – https://fingfx.thomsonreuters.com/gfx/mkt/zdpxdokqopx/gucci.PNG

Fur loafers

Michele, who turned 50 on Friday, reinvigorated the brand with her quirky, gender-changing styles that are popular with younger shoppers.

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Early hits were fur-lined loafers, adorned with the label’s signature ponytail, which fetched over $1,000 and a Dionysus handbag, complete with chain strap and double tiger heads, starting at about $900 for smaller sizes.

Upgraded from accessory design in 2015, he helped boost profits, which grew fourfold by 2019 as revenue rose to nearly 10 billion euros from less than 4 billion.

In recent years, growth has slowed while rivals such as Dior and Louis Vuitton, owned by rival luxury group LVMH, have advanced.

Third-quarter sales in LVMH’s fashion and leather goods division rose 22% while Gucci grew 9%, less than the market had expected, which some analysts attributed to a fading appetite for the designer’s styles.

They questioned the mid-term target for annual sales of 15 billion euros, set in June.

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The brand has also suffered from the COVID-19 lockdowns in China where it has an extensive store network and higher exposure compared to other heavyweights.

According to Barclays (LON:) My estimate, compared to 27% for LVMH’s fashion and leather goods division and 26% for Hermes.

Move quickly

Time is not on the side of the iconic poster.

While making such a drastic change is positive, “it could take about a year to see the results of any aesthetic transformation,” UBS said, citing design and production lead times.

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Industry watchers say there’s a wide range of potential creative directors out there, from big-name designers to relatively unknowns who could be tapped on the inside like Michelle.

said Serge Carrera, President of Emerging Brands at the French Fashion Federation FHCM.

“You can also stick to the status quo for a while and take a break for a year or so,” he said. The existing team can continue designing collections, just as the men’s team at Louis Vuitton did, following the death of designer Virgil Abloh last year.

But given the strength of Michelle’s aesthetic and brand identity, the change in status could mean more “a revolution than an evolution,” said JPMorgan’s Battistini.

“This, in our view, could mean a period of relative turmoil, both operationally and financially, which could put the Kering reclassification story on hold for the time being,” Battistini said.

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($1 = 60.3500 rubles)

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