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TT Vol. 89
Luxury Succession, Musical Chairs, PFW Wrap & WINDOW SHOPPING
Clockwise from Top.
Trying to read the tea leaves at the big luxury conglomerates is always a fun parlor trick outsiders can play. In an otherwise innocuous securities filing, LVMH announced it was raising the age limit for the CEO from 75 to 80. Current billionaire Bernard Arnault1 is 73, and has five children all involved with the family company.
The change gives him more time to pick a son to take over the biggest luxury goods company in the world. A real life version of the very excellent Succession.
While a baby boomer is prolonging his time atop LVMH, a Gen Z is taking over the creative director position at Salvatore Ferragamo.
Two very different approaches from the two luxury groups - one elevating youth, the other preserving the status quo in amber for at least 5 more years.
We chat A LOT more about the Arnault’s and succession at LVMH on our podcast this week.
We’ve always been obsessed with chairs. For years (decades in fact!) I’ve been carrying around a 3-legged wooden chair hand made by a family friend furniture maker, but outside of some Muuto seats we bought cheap through a vendor hook up, we haven’t dedicated a lot of spend on this category.
But maybe that will be changing soon? I finally dropped into March last week and got to check out their Faye Toogood selection. And we’ve been reading up on Peter Mateo’s work2 in Arch Digest. From Botswana, Fendi tapped Mabeo to design a line of furniture pieces that were recently unveiled at Design Miami.
I’ve never understood why furniture makers like to hide their prices from the public, but you can’t just add to cart and check out. We inquired about pricing, and were given a spec sheet that included pricing. At “only” $5500, looks pretty damn affordable compared to Fendi or Faye Toogood.
We didn’t get to it at the time, but The Row had its first runway show in 2+ years, and decided to do it in Paris and not NYC. Plenty of monochrome, playful proportions and hats! This sparkly piece got all the attention:
And with that, things will be a bit quieter on the luxury front until this summer.
Chris & Raquel
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And sometimes the richest man in the world, depending on the share price of Tesla, Amazon, and LVMH at any given moment.
The products for sale on his site are absolutely beautiful, and all things considered, not very expensive.