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To close this year 2021, let’s look back at twelve events that have punctuated the news in the luxury industry in recent months.
In January, Fashion Week adapts to the health crisis
As tradition dictates, the first Fashion Week of the year takes place in January. Devoted to the men’s collections of 71 houses, it is canceled in London and New York, but maintained in Milan, from January 15 to 19, and in Paris, from January 19 to 24, 2021. Due to the health crisis, brands had to reorganize for this edition, and most opted for a digital format, following the model of previous seasons. Our article here.
In February, Kering targeted by a tax evasion scandal
This is a blow for Kering. The group, which owns Gucci, Saint Laurent and Balenciaga among others, is at the heart of a tax fraud case. The OpenLux investigation, conducted by several European media including the French media Le Monde and which analyzes the tax system in Luxembourg, accuses him of having paid offshore remuneration to its executives. Kering had already been targeted by an investigation by Médiapart in 2018 on the same subject. Questioned by AFP, François-Henri Pinault denied these accusations. Our article here.
In March, the NFTs invite themselves in the watchmaking
At a sale organized by the IoT cybersecurity company WISeKey, on March 31, 2021, the very first NFT-secured watch was auctioned off. Usually reserved for the art sector or, more recently, fashion, NFTs are being introduced to the watch industry. And it is a watch from Hublot, the Bigger Bang All Black Tourbillon Chronograph “Special piece”, which is named. It belongs to the private collection of Jean-Claude Biver, former director of the Watch Section of LVMH, who will remain the owner of the physical version, but is auctioning its authentic digital duplicate. Our article here.
In April, Gucci and Balenciaga merge on the catwalk
Never seen in the history of fashion. During the Gucci fashion show celebrating the centenary of the Italian house, spectators are surprised to see the Balenciaga logo on some pieces. However, this is not a collaboration between the two houses of the Kering group. Gucci‘s creative director, Alessandro Michele, wanted to pay tribute to the first collection of designer Demna Gvasalia for Balenciaga. Our article here.
In May, Alain Ducasse bids farewell to the Plaza Athénée
On May 13, a rumor that had been circulating for several days was confirmed: the famous chef Alain Ducasse was about to leave the Plaza Athénée. After more than twenty years of service, Alain Ducasse is ending his partnership with the Dorchester Group. The 21-Michelin-starred chef is leaving behind a legacy of excellence and his vision of modern cuisine that limits the use of meat and butter. He will officially leave the company on June 30, and will be replaced by Jean Imbert, winner of the TV show Top Chef. Our article here.
In June, reopening of the Samaritaine
Initially scheduled for the 150th anniversary of La Samaritaine in 2021, the health crisis has postponed the opening of the iconic Parisian shopping center. Closed since 2005, La Samaritaine is finally making its grand return on June 21, 2021. The LVMH group, which has owned the establishment since 2001, was only able to start work in 2015. For this reason, several associations militating for the preservation of heritage were opposed to the creation of a glass facade. The new Samaritaine covers 20,000 m² and allows the creation of 2400 jobs. Our article here.
In July, the IFF gathers for a sustainable fashion
On July 23 and 24, the International Fashion Festival was held in Porto Montenegro for its third edition. Organized in the open air, the event aims to highlight local fashion talents. The 2021 edition of the festival revolved around the theme of “green fashion“, and through their eco-responsible collections, the designers called for a more sustainable sector. The audience size, drastically reduced due to the health crisis, was limited to 200 people, but those who were not present could still follow the shows live from their homes. Our article here.
In August, Tiffany & Co launches the “About Love” campaign with Beyoncé and Jay-Z
On August 23, Tiffany & Co announced the launch of its “About Love” campaign, starring Beyoncé and Jay-Z. Taking an iconic theme from its history, the newly acquired LVMH jeweler celebrates love and signs an exciting collaboration with the Carter couple. With references to the artist Jean-Michel Basquiat with the appearance of the painting Equals Pi (1982) or the famous movie Breakfast at Tiffany‘s, with a reinterpretation by Beyoncé of the famous song Moon River by Audrey Hepburn. Our article here.
In September, Kering announces that it will no longer use animal fur
On September 24, 2021, the Kering group published a press release announcing that it would completely stop using animal fur in its collections. All the houses owned by Kering have committed to stop using animal fur from the fall 2022 collections. The house Gucci had already started this process in 2017, but some houses like Yves Saint Laurent or Brioni, remained behind. The Brigitte Bardot Foundation welcomed this decision. Our article here.
In October, Fonsun Fashion Group becomes Lanvin Group
On October 11, 2021, the Fosun Fashion Group, owner of Lanvin and Sergio Rossi changes its name. The Chinese group becomes Lanvin Group and makes several major announcements, including a fundraising of around $300 million, bringing the valuation of the group to $1 billion. The newly named Lanvin Group also unveils the arrival of new investors, such as ITOCHU Corporation, Stella International and Xizhi Capital. Our article here.
In November, the death of Virgil Abloh
On November 28, the fashion world learned the sad news: a fashion legend passed away. At only 41 years old, Louis Vuitton artistic director and founder Virgil Abloh tragically passed away from a rare form of cancer. The world of Haute Couture paid tribute to him at the Miami Art Basel, which brought together many celebrities and relatives of the designer. To conclude the show, the words “Virgil was here” were displayed in the sky, reminding us of the monumental legacy that Virgil Abloh left behind in a fashion industry that he marked forever with his unique vision. Our articles here and here.
In December, Elon Musk is Time magazine’s Person of the Year
Each year, the “Person of the year” distinction of the American weekly Time rewards the personality who has most marked the year, in a good or bad way. Created in 1927, this distinction has been awarded to various personalities, from Mahatma Gandhi to Adolf Hitler, despite their sometimes negative influence on history. On December 13, 2021, it is Tesla CEO Elon Musk who is on the cover. The newspaper highlights the undeniable influence Elon Musk has “on life on Earth and potentially on life off Earth as well,” in an editorial by Time‘s boss Edward Felsenthal. Our article here.
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To close this year 2021, let’s look back at twelve events that have punctuated the news in the luxury industry in recent months.
In January, Fashion Week adapts to the health crisis
As tradition dictates, the first Fashion Week of the year takes place in January. Devoted to the men’s collections of 71 houses, it is canceled in London and New York, but maintained in Milan, from January 15 to 19, and in Paris, from January 19 to 24, 2021. Due to the health crisis, brands had to reorganize for this edition, and most opted for a digital format, following the model of previous seasons. Our article here.
In February, Kering targeted by a tax evasion scandal
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To close this year 2021, let’s look back at twelve events that have punctuated the news in the luxury industry in recent months.
In January, Fashion Week adapts to the health crisis
As tradition dictates, the first Fashion Week of the year takes place in January. Devoted to the men’s collections of 71 houses, it is canceled in London and New York, but maintained in Milan, from January 15 to 19, and in Paris, from January 19 to 24, 2021. Due to the health crisis, brands had to reorganize for this edition, and most opted for a digital format, following the model of previous seasons. Our article here.
In February, Kering targeted by a tax evasion scandal
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