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Alexandre Salemn 02.29.24

The latest news in Fashion and Luxury (episode 13)

NellyRodi’s fashion and luxury experts share their picks from the market’s major updates. Episode 13 covers February 2024.

February 1 - A New Record in Swiss Watch Exports

Swiss watch exports reached a historic peak in 2023, surpassing €27 billion for the third consecutive year. Despite global economic challenges, the Swiss watchmaking sector maintained its upward trajectory, with over 95% of its products sold abroad. The United States and China were the main drivers of this growth, closely followed by Hong Kong, which saw a spectacular increase in sales. Luxury brands such as Rolex, Audemars Piguet, Patek Philippe, and Richard Mille dominated the market, while Swatch and Tissot also saw notable success in the entry and mid-range offerings. However, analysts forecast a slowdown to around 5% growth for the year 2024 compared to 7.6% in 2023. The Swiss watchmaking industry remains a pillar of the country’s economy, currently employing 65,000 people, a record level since the 1970s.


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Une publication partagée par Audemars Piguet (@audemarspiguet)

February 8 - Bottega Veneta Returns to Fragrance

Kering plans to launch a high-end fragrance under the Bottega Veneta label by the end of the year. Kering Beauté, the Group’s newly formed beauty division led by Raffaella Cornaggia, is currently focusing on the cosmetic development of brands such as Balenciaga and Alexander McQueen. Following the acquisition of Creed in July 2023, Kering is now leveraging the synergies and expertise of the brand to accelerate the development of Bottega Veneta fragrances.

Matthieu Blazy, Creative Director of the Italian house for over two years, plans to integrate an olfactory dimension into his creative vision. This initiative aligns with Kering’s strategy of diversification into the beauty market for its various brands. The Group’s flagship brand, Gucci, also has a beauty arm currently licensed to the Coty Group.


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Une publication partagée par KERING (@kering_official)

February 14 - Chanel Reinvests in Wine

Chanel strengthens its footprint in the wine industry with the acquisition of the distributer Lavinia via the Chanel-owned merchant Ulysse Cazabonne. This alliance marks another step in Chanel’s diversification strategy into the wine sector. Ulysse Cazabonne, already the owner of several vineyards, aims to leverage Lavinia’s expertise to grow its distribution network and increase its international presence. Lavinia, a major player in the distribution of wines and spirits, has five wine bar-boutiques in France, Switzerland, and Spain as well as an online platform with over 6,500 references. This union will also allow Ulysse Cazabonne to expand its B2B services and strengthen its presence in the e-commerce market.


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Une publication partagée par Le Figaro Vin (@lefigarovin)

February 15 - Range Rover in Megève

During the winter holidays, Range Rover offers an exclusive and immersive experience in Megève to its most loyal customers. From February 15 to 29, guests can explore the latest models of the brand and participate in activities such as culinary demonstrations and watchmaking lessons. Nestled in the heart of alpine meadows and fir forests, the Range Rover House includes two chalets with views of Mont Blanc. The suites, personalized with names of iconic designs, reflect the luxury and refinement of the brand. Guests can discover exclusive models of the brand and be assisted by ambassadors on the customization options they wish to make for their next purchase. Guests can also enjoy a wellness area including a pool, jacuzzi, sauna and steam room as well as massage services.


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Une publication partagée par Frank (@frankgallucci)

February 15 - Zendaya in Mugler for Dune 2

Zendaya captured attention by wearing a vintage design by Manfred Thierry Mugler during the highly anticipated promotion of the film “Dune 2” in London. The robot-inspired plexiglass and metal jumpsuit from Mugler’s 1995-1996 archives was selected in collaboration with her stylist Law Roach. The ensemble was complemented by an impressive Bulgari diamond necklace and metallic heels, both from the Mugler house. The star’s fashion statement and presence of Timothée Chalamet and Florence Pugh were powerful publicity for the movie. Zendaya, who was recently named co-chair of an exhibition at the Costume Institute, continues to make waves on red carpets worldwide, paying homage this time to the legacy and genius of Thierry Mugler.


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Une publication partagée par Just Jared (@justjared)

February 20 - Victor Wembanyama, New Louis Vuitton Ambassador

Victor Wembanyama, the rising star of French basketball, has become an ambassador for Louis Vuitton. His partnership with the luxury brand is in sync with the growing trend of brands associating with the world of sports in anticipation of the Paris 2024 Olympic Games. By becoming an LV ambassador, Wembanyama joins a prestigious list of athletes such as LeBron James, Leo Messi, Carlos Alcaraz and Léon Marchand. The appointment also highlights his rapid ascent in the basketball world and his influence beyond the boundaries of sports. The collaboration underscores Louis Vuitton’s desire to be a cultural, global brand that radiates into other consumption territories such as art and sports.


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Une publication partagée par Louis Vuitton (@louisvuitton)

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