Weekly Luxury News
Hermes dismisses dispensing subterfuge antitrust lawsuit
Hermes is attempting to have a previous lawsuit over alleged antitrust violations dismissed on the grounds that the plaintiffs misinterpreted the antitrust laws. According to media reports, Hermes' lawyers have stated that the company does not require consumers to make additional purchases of the brand's other products before buying handbags such as the Birkin.
In a motion to dismiss filed last week, Hermes provided the court with four reasons for dismissing the lawsuit. These included the plaintiffs' failure to prove that Hermes has a monopoly in the market for products sold in bundles and the plaintiffs' failure to make clear which products customers would need to purchase in order to get the Birkin handbags.
Dior Collaborates with Stone Island for Limited Collection
French luxury brand Dior has announced a collaboration with functional apparel brand Stone Island to create a limited collection for its Fall 2024 men's collection. The fabrics are silk-based and have been crafted using a unique processing technique that involves the use of specific resins and waxes to separate the pigments from the leather. Some of the pieces feature Stone Island's classic compass logo. The collection will be available in June in Europe and the United States, with a July 4th release date for the rest of the world.
Founded in 1982 by Italian fashion designer Massimo Osti, Stone Island's classic compass logo has been a favourite among trend-setters around the world for many years. In 2020, Stone Island was wholly acquired by luxury goods conglomerate Moncler for 1.15 billion euros. The brand's current CEO, Robert Triefus, was previously an executive at Italian luxury brand Gucci. Robert Triefus, the current CEO of Stone Island, previously held the position of executive at Italian luxury brand Gucci.
Victoria's Secret First Quarter International Sales Up 15%
Victoria's Secret has released preliminary results for the first quarter ended 4 May 2024. Sales were down 3% to 4%, while adjusted income was $35 million to $40 million. Chief Executive Officer Martin Waters stated that the company's first-quarter results were better than anticipated, with online sales outpacing offline stores and first-quarter sales in international markets up 15 percent. By Friday's close, Victoria's Secret shares had risen by 5.32 percent, reaching $19.60. This has resulted in a market capitalisation of approximately $1.53 billion.
Gucci Hosts Gucci's Early Spring 2025 Collection Fashion Show in London Today
Italian luxury brand Gucci is hosting its Gucci 2025 early spring collection at London's Tate Modern today, marking creative director Sabato De Sarno's first early spring collection since taking the helm in January of last year. Gucci has a long-standing relationship with London, with founder Guccio Gucci working as a porter at the Savoy Hotel in London in 1897, where he developed an interest in leather goods and began to create high-end luggage and handbags. Gucci has a long-standing relationship with London, dating back to 1897 when founder Guccio Gucci worked as a porter at London's Savoy Hotel. This experience led him to develop an interest in leather goods and to begin creating high-end luggage and handbags. In 2016, Gucci hosted a runway show in London, with then-creative director Alessandro Michele presenting the brand's debut Gucci spring/summer 2017 collection at Westminster Abbey.
