Clockwise from Top.
Gucci goes to London
For their 2025 Cruise Show, Gucci hosted guests in London for a runway show at the Tate Modern. With a recent run of poor sales, the brand is feeling a little bit skittish about its product offering and its new creative director, Sabato de Sarno.
There was plenty of breezy looks for that resort vacation you’re planning on taking: think florals, petals, fringe, relaxed silhouettes.
On the accessories front, there was the old-is-new Blondie Bag and horsebit everything: more loafers, and ballerina flats.
Thankfully, the powers that be at Gucci seem to be going de Sarno time to attract a new customer after the success of prior creative director Alessandro Michele.
Gucci also released a new campaign with tennis star Jannik Sinner, with “Gucci is a feeling” as the tag line. While it calls back to a 1980’s Gucci ad, it’s a bit of an odd-ball slogan?
Things are still very TBD at Gucci, as only time will tell if they will find a new customer before Kering’s patience runs out.
More Luxury Results
Chanel reported blockbuster results, revealing that its sales jumped 23% YoY vs 2023. Defying the slowdown seen at brands like Gucci, sales grew strongly in both Asia and Europe, though sales in North America were a lackluster +2.6% vs LY.
In stark contrast, Burberry reported a huge drop in sales YoY: down -4% vs LY on the toppling, but down -36% in operating profit. Under its new creative director Daniel Lee, Burberry has tried to increase prices to move out of aspirational luxury; this week’s results show that it has not worked, at least not yet.
As we have detailed, there is a divergence in the luxury sector between slightly lower priced, aspirational luxury brands, and tried and true luxury brands like Hermès, Chanel, Prada and Louis Vuitton.
Inflation and other macroeconomic factors may be affecting consumers in the US, but in China, wealthy VICs are shopping again after a soft, COVID-y 2023.
Challengers
We got around to seeing Luca Guadagnino’s tennis film Challengers, starring the trio of Zendaya, Josh O’Connor and Mike Faist. Guadagnino is one of our favorite directors, best know for his “Desire” trilogy - I Am Love, A Bigger Splash, Call Me By Your Name.
We really can’t recommend it enough - everything from the costumes (done by rockstar JW Anderson), the Cartier Panthere, the pulsating Trent Reznor score, the courts at Stanford and Flushing Meadows.
Oh, and the tennis is actually pretty good to watch. Go watch it!
Links.
The doomsday glacier is not something you want to read about.
Marshall Island sailing charts.
Skipping coffee is the latest humblebrag.
It’s time to believe the AI hype.
“Palace Attitude” training at the Hotel du Cap-Eden-Roc.
A cricket stadium rises in Nassau County.
The Red Lobster bankruptcy auctions.
Man gets realistic picture of his boat painted on a fence intended to hide it.
<3
Raquel & Chris