LUXURY PRESS DIGEST 29TH APRIL
Luxury Fashion, Retail & Consumer Goods
IS ‘SILVER’ THE NEW BLACK FOR LUXURY?
CNBC reports that older women have become the new face of several fashion houses in recent months, a sign that global luxury retailers are increasingly switching their focus to older consumers. In January, French brand Celine put renowned author 80-year old Joan Didion on their spring 2015 ad and a few days later, 71-year old singer-songwriter Joni Mitchell appeared in a Yves Saint Laurent feature. The ads celebrating wrinkled faces and grey hair are a concerted effort to target older consumers, marking a significant turnaround from traditional marketing to younger, millennial groups.
HERMÈS OUTPERFORMS LUXURY RIVALS IN FIRST QUARTER
Wall Street Journal reports that French luxury company Hermès International posted robust growth in the first quarter, outperforming peers as the wider industry continues to see demand cool. The company on Wednesday said sales rose 19 per cent to €1.1 billion in the first three months of the year, compared with €944 million in the same period last year, boosted by the weak euro. Excluding currency effects, sales rose eight per cent, marking a slight deceleration from the previous quarter when growth reached almost 10 per cent. The company did not disclose profit figures for the period.
DKNY ANNOUNCES TWO NEW CREATIVE DIRECTORS
Vogue reports that DKNY has today announced the appointment of two new creative directors - Dao-Yi Chow and Maxwell Osborne. The duo, who founded the CFDA Award-winning brand Public School, will oversee all collections, effective immediately. They will divide their time between DKNY and Public School.
WECHAT PUBLISHING IS CHANGING CHINA’S MEDIASCAPE
Business of Fashion reports that as an editor at Elle China, Leaf Greener amassed an enthusiastic following that propelled her to become one of China’s early digital fashion stars. Now, she is harnessing that audience through Leaf, a self-published mobile magazine. 'Leaf' is geared towards what she calls “the small and artistic” — and it is published exclusively through the popular app WeChat. Greener’s new enterprise reflects how mobile is fast becoming the preeminent consumer channel in China. But it suggests something else too. Thanks to the rise of new publishing formats such as WeChat, China’s unique digital ecosystem is becoming a platform for experimentation, in a local media landscape famous for its rules and regulations.
Luxury Travel, Culture & Leisure
GULF TOURISTS FLOCK TO MUNICH’S LUXURY LIFE AS PARIS FADES
Bloomberg reports that Munich – thanks to the city’s medical facilities and array of luxury boutiques – has helped Germany race past France and Britain to become the European destination of choice for tourists from the Gulf states, according to data from Germany’s DZT tourist board. Arab guests spent 1.5 million nights in Germany in 2013, and the board forecasts the total will top 2 million by 2020. More than a third of the Arab visitors went to Munich.