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Must Read:  Kering Sales Lag, The Future of Luxury in China

Plus, NewJeans member Haerin is a Dior brand ambassador.

Photo: Kevin Frayer/Getty Images

These are the stories making headlines in fashion on Wednesday. 

Kering’s sales lag behind its rivals
Kering, the French luxury conglomerate that owns brands such as Gucci, Saint Laurent and Bottega Veneta, has seen only a 1% increase in sales this past quarter, significantly lagging behind its competitors. LVMH’s sales grew by 17% and Hermès by 23%. Kering’s slowing performance can be attributed to rising inflation rates and consumer backlash against its brands like Balenciaga, which saw a significant decline in revenues. {Business of Fashion}

The future of luxury in China
Despite facing challenges like the pandemic and geopolitical tensions, China is expected to remain a key driver of growth in the luxury market, with younger consumers leading the way. “We registered some pretty nice pick-up in China, which bodes well for the rest of the year,” said Jean-Jacques Guiony, CFO of LVMH, which saw sales rise 17% this quarter. Luxury retailers like Louis Vuitton, Chanel and Dior are hosting a slew of events in China to boost their presence in the crucial market, in addition to experimenting with new technologies like e-commerce platforms. {WWD/paywalled}

Dior appoints NewJeans member Haerin as brand ambassador
Dior has appointed 16-year-old member of the girl group NewJeans, Haerin, as its new brand ambassador. Haerin will represent Dior’s fashion, beauty and jewelry products. Dior’s decision to partner with the K-pop star reflects the growing influence of K-pop and Korean culture on the global fashion and beauty industries, as well as Dior’s efforts to engage with younger consumers and expand its presence in Asia. “This is an opportunity to celebrate the privileged ties binding more than ever the NewJeans singer and Dior,” the company said in a statement to WWD. Haerin is in good company, joining Blackpink’s Jisoo as an ambassador for the French house. {WWD/paywalled} 

The increasing demand for counterfeit goods
There’s a growing trend of young consumers buying counterfeit goods, or “dupes” as they’re often now called. With the rise of social media and influencer culture, young people are normalizing knock-offs and sharing info with each other; the hashtag “dupe” has garnered over 2.3 billion views on TikTok. According to a report by the European Intellectual Property Office, 37% of young people admitted to buying at least one counterfeit item in the last 12 months. The main driver behind the trend is affordability — designer brands are out of reach for most young shoppers, but they still want to appear fashionable. {Fashion United

Photo: Courtesy of Starbucks

Starbucks collaborates with Brandon Blackwood
Brandon Blackwood and Starbucks teamed up to create a limited-edition Brandon Blackwood + Starbucks Sip & Sling collection celebrating the launches of the new Starbucks Pink Drink and Paradise Drink. The collection features bottle bags inspired by the colors and textures of the beverages and will be available for purchase in a limited drop on April 28 at 9:00 a.m. PT/12:00 p.m. ET on, for $75 USD each. This collaboration adds to Blackwood’s growing list of recent accomplishments, including being named to TikTok’s Black Visionaries list and added to the CFDA’s membership roster. {Fashionista inbox} 

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