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Tesla wants to open a mega factory in China, Cartier loses in the Love bracelet case in Singapore, Moncler ambitious for 2019 and the other news of the day.
Press review
Tesla wants to open a huge factory in China
Tesla’s founder, Elon Musk, has announced the imminent start of construction of an electric car factory in Shanghai, which will give him full access to the Chinese market, which is the largest in the world.
“We are looking forward to starting today the process of building the Shanghai Tesla giga-factory” Musk wrote on his official Twitter account.
“The goal is to finish the construction this summer, to start production of the Model 3 at the end of the year and to reach high production volumes next year” Elon Musk also tweeted.
According to Chinese media reports, Tesla’s boss is expected to attend the launch ceremony in Shanghai. This announcement comes at a time when a US delegation is in Beijing trying to end the trade war between the two countries.
In July, Tesla announced its intention to build a factory with an annual production capacity of more than 500,000 cars in China, its first outside the United States. According to Bloomberg, it would cost about $5 billion to build.
Cartier looses against MoneyMax
Cartier lost his case against MoneyMax. Indeed, the luxury jeweller had tried to prohibit the Asian pawnbroker and retailer from using the words “love” and “gold” for its image. According to local media reports, a Singapore court found that, Cartier’s lawsuit to prohibit MoneyMax from using the words “love” and “gold” inserted in a rectangle as a trademark, was invalid despite the similarities with Cartier’s iconic “love” bracelet.
“A (love) bracelet can represent a loved one. The word “love”, however, should be allowed to be freely used by jewellers in their brand” Mark Lim Fung Chian clerk, told the Singapore Times. After a trademark application made in January 2017, MoneyMax is now allowed to register its “Love Gold” trademark under the law Class 14 for jewellery and Class 35 for sales and other services related to jewellery.
Moncler, ambitious for 2019
In 2019, Remo Ruffini could actually become the Italian equivalent of Bernard Arnault.
Indeed, since the rescue of Moncler in 2003, the entrepreneur has given the brand a real facelift to lead it to success.
There is still a long way to go before he can use Moncler’s growing strength (7.5 billion euros) to create something like Bernard Arnault’s LVMH group, which currently weighs nearly 130 billion euros.
But if he wanted to build the first major Italian luxury group, it would be the right time.
If Ruffini can overcome the traditional rivalries of Italian luxury and win over potential second generation sellers, the path to Arnault style status could be his own.
Some change for Calvin Klein
Steven Waldberg, former Senior Director of Global Communications at Bulgari, has joined Calvin Klein as Executive Vice President of Consumer Engagement, a new position. He reports to Marie Gulin-Merle, Director of Marketing at Calvin Klein.
Waldberg will be responsible for marketing, public relations, communications, social responsibility and corporate social responsibility.
Remind us that Raf Simons, appointed in August 2016 as head of the company’s artistic direction, left his position on 21 December. The identity of his successor has not yet been revealed.
Appointed head of the men’s and women’s lines in August 2016, having spent more than three years at Dior, Raf Simons succeeded the Francisco Costa and Italo Zucchelli creative duo and presented his first collection for Calvin Klein in February 2017 at New York’s Fashion Week.
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