Does the surname Arnault ring a bell for you?  If you were ever, at some point in your life, interested in fashion, then most likely the answer to this question is going to be yes. However, should I ask you to give me both the name and surname of the person that I have in mind, then your answer is most likely going to be: Bernard Arnault. Wrong. Now substitute Bernard with Alexandre and here you have it, the main character of this article. It’s a tale as old as time: someone in the family finds himself in a position of power and suddenly half of the family becomes employed…

On the 18th of March a headline: “Prada Loses $864 Million in Value as China Slump Hits Profit” was published on Bloomberg.  For many it might seem as a mere piece of everyday financial news, but in fact it is a signal of changes in the luxury industry, in particular personal luxury goods, or fashion.  Fifteen, or even ten years ago the effects of shocks in spending habits of Asian customers could in no way be compared to what we see now. Although Europe still holds the leading position in terms of sales, it is the Chinese consumer that drives the positive growth trends in terms of sales. As can…

In the last months, since the unexpected appointment of Givenchy’s Riccardo Tisci as Burberry’s new Artistic Director, the latter often found itself in the media spotlight. Ironically, shortly after the international scandal revolving around the news that Burberry would rather burn unsold pieces than mark them down, all in hopes of not risking brand devaluation, the company received considerable backlash on the execution of not only the operational side but also the artistic one. Burberry, whose brand assets (hence, the infamous Burberry check) are among the most recognized in the fashion world, has found itself in a strange position of not having a clear and consistent brand identity and ending…

“Fashion is everything. Art, music, furniture design, graphic design, hair, makeup, architecture, the way cars look – all those things go together to make a moment in time…” – Tom Ford. The fashion and automotive sectors’ creative synchronicity goes way back to the start of the 20th century. The invention of the first car inspiring our modern-day handbag is a key point, as it was first intended to be an accessory to store driving gloves and then was transformed into a portable sac-a-main. Cars have been a muse for fashion designers all throughout history, from Dior’s S/S01 vintage car prints, Prada’s S/S12 candy-infused, cartoon car collection and Céline’s auto-inspirations in A/W11. Gucci’s…

Fashion today can undoubtedly be defined as more than the mere act of dressing oneself. From a form of expression of one’s personality to a means of communication, its roles are multiple and go way deeper than its frivolous image. So could it also have the power to become a political voice? In the recent years, more and more runways have almost morphed into political arenas. A phenomenon that has particularly spiked since Donald Trump’s election late of 2016. The clothes that line them sometimes sport keywords or phrases that portray the designer’s political views on current events. A plethora of issues are being raised at these shows; the most…

The Kering group, a luxury conglomerate that owns Gucci, Saint Laurent, Balenciaga and Alexander McQueen among other brands, is facing an Italian claim for 1.4 billion in unpaid taxes. Italian tax authorities completed a tax audit in connection with their investigation pertaining to Gucci’s tax matters in Milan: the source of the problem is “Luxury Goods International” (LGI), a Swiss subsidiary of Kering. According to the audit report, LGI conducted business activities in Italy which should have resulted in payment of Italian corporate taxes. The audit is mainly focused on Gucci, Kering’s star brand and main revenue driver. The audit started in 2017 when Italian tax authorities carried out checks…