It’s Fashion & Watches Month at Luxury Insider, as we take to the latest in the world of fashion and horology. In case you missed it, here were the biggest happenings so far:
CEO Frederic Cumenal’s Tiffany & Co. Exit
Chief executive officer Frederic Cumenal has exited the New York-headquartered Tiffany & Co after five years. The American luxury jewellery and specialty retailer is currently helmed by interim CEO Michael Kowalski, who was previously CEO of the retailer for 16 years until 2015. Cumenal joined the company in 2011, rising through the ranks as president and then as chief executive in 2013 and 2015 respectively. The French businessman’s portfolio includes 15 years at LVMH.
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LVMH Wants to Group All Brands Under One Site
Expected to launch this May is LVMH’s most ambitious undertaking in the world of ecommerce yet, as the French luxury group attempts to move towards an umbrella site that will see a combination of all its brands in a single portal. To be branded as Le Bon Marché, the new website marks LVMH’s first major digital undertaking that reflects the new appointment of Apple’s Ian Rogers as chief digital officer.
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Billionaire Albert Frere Acquires 3% Stake in Burberry, Shares Skyrocket
Billionaire Albert Frere’s recent acquiring of a 3 percent stake in Burberry Group Plc sent stocks surging in London, further fuelling industry speculation that the Belgian businessman intends to boost the British trenchcoat maker’s profits. Belgium’s richest man is known for pushing for performance within his companies. His purchase sent Burberry’s shares surging an impressive 3.7 percent – its highest since May 2015.
Studies Suggest that WeChat Services Could Drive Luxury Fashion
According to data collected by Digital Luxury Group on WeChat in their study of 25 luxury labels, including Bottega Veneta, Dolce & Gabbana, Fendi and Hermès, WeChat has attracted more than its usual clientele. With an open API, one can link WeChat to external databases effortlessly, welcoming the establishing of the app as a reputable service-oriented platform.
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