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Artemis, the holding company of Kering, has acquired the entire capital of Courrèges, which has started a new recovery plan. For its part, Chanel announced Monday that it has taken a “minority” stake in the watch company Journe. In parallel, the Italian luxury car manufacturer Ferrari wil invest in a serie of hybrid models to increase its profits by 2022.
Septembre 18, 2018 | Press Review
Business
Artemis, the holding company of Kering, acquired the entire capital of Courrèges, while the emblematic French label of the 1970s has strated a new recovery plan. The holding company driven by the Pinault family had already taken a 30% stake in the brand’s capital in 2015, for an undisclosed amount.
“Today, it takes full control,” said a spokeswoman for Artemis to Reuters, confirming information from the Women’s Wear Daily, without specifying the financial terms of the operation.
The balance of this stake was acquired from Jacques Bungert and Frédéric Torloting, two former executives of the advertising agency Young & Rubicam who bought Courrèges in 2011.
After several attempts for relaunching the brand, the short activity of a duo of new creators and important investments, especially in the renovation of the historic factory in Pau (France), Courrèges has not regained its influence.
The brand has actually recruted a new artistic director in early 2018. Yolanda Zobel, previoulsy working for Chloé, Jil Sander and also Acne Studios, will present his first collection on September 26 during the “fashion week” in Paris.
Finance
Chanel announced Monday that it has taken a “minority” stake in the watch company Journe, a Genevan brand whose high-end production is limited to 900 watches a year. In its press release, Chanel does not specify how high it is to the capital of Montres Journe SA, but according to several media, this participation is representing 20%.
This acquisition will allow “Montres Journe SA to continue its development, ensuring its sustainability and autonomy,” said Chanel.
The Chanel house, owned by the Wertheimer brothers, achieved in fiscal year 2017 a turnover of $ 9.6 billion for its holding company Chanel Limited.
Brand strategy
The Italian luxury car manufacturer Ferrari will invest in hybrid models, while focusing on special series, including a new concept called “Icona” (Icon) to boost its profits by 2022.
The launch of the first SUV, an extremely buoyant niche on which Ferrari is one of the last to position itself, is however delayed “at the end of the strategic plan” 2018-2022.
The plan was unveiled Tuesday in Maranello, the group’s historic headquarters, by the new managing director, Louis Camilleri. The latter took control of Ferrari on 21st of July after the sudden deterioration of the health of Sergio Marchionne, who died a few days later.
Ferrari intends to increase its turnover from 3.4 billion euros in 2017 to almost 5 billion in 2022.
Creation
After six months of waiting and ranting, the world of fashion finally discovered last Sunday, the first show of Riccardo Tisci for Burberry.
If the first act of the show has claimed a silhouette heritated from bourgeoisie, with great classics of tailoring on a background of 19 shades of beige, the second part will speak to millennials with pleated mini-skirts and t-shirts with messages – including the already cultured stamped “TB”.
Necessarily expected on the trench coat, glory of the house, Tisci folded extensively to the exercise. The “trench skirt”, which is aptly named, is part of gold coins and already sold on the Instagram of Burberry … and this for 24 hours. Stay tuned …
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