Tiffany and Co on the decline in the third quarter, Lamborghini expands its plug-in hybrid catalogue, and the other news of the day.
Tiffany and Co down in the third quarter
Tiffany is down on the stock market because of disappointing sales due to low spending by Chinese tourists. In the third quarter which ended at the end of October, their net income declined by 5.6% to $94.9 million, or 77 cents per share. Net sales rose by 3.5% to $1.01 billion, while the consensus was for $1.05 billion.
Excluding currency effects, sales, in stores opened for more than a year, increased by 3%, a slower growth than the 5.3% average expected by analysts, according to Refinitiv’s IBES data.
The group confirmed its annual earnings target of $4.65 to $4.80 per share, while analysts are targeting $4.83.
Lamborghini is switching to plug-in hybrids
After the launch of Urus, the entire Lamborghini catalogue should be available in a plug-in hybrid version, according to its CEO Stefano Domenicali who declared it to Automotive News.
According to him, the next generations of their iconic models, which should not appear until 2021, will be plug-in hybrids. According to Automotive News, the next Huracan hybrid could develop some 985 hp and the Aventador could reach 1,172 hp, to not lose sportiness despite the switch to the hybrid.
This is a logical follow-up to the plug-in hybrid version of the Urus, the brand’s first SUV, already announced for 2019. On the other hand, another model, currently under study, could also be developed by 2020. However, Lamborghini is not yet considering the upcoming release of a 100% electric model.
Miuccia Prada will be honored by an award
Italian designer Miuccia Prada will be honoured at the next Fashion Awards ceremony, which will take place on December 10 in London, announced the British Fashion Council on its Instagram account. The designer will receive the Outstanding Achievement Award.
Held at the Royal Albert Hall in London, the ceremony will pay tribute to the Italian designer who took the head of Prada in 1978.
The Outstanding Achievement Award recognizes a fashion actor for his career but also recognizes his creative contribution to the fashion industry.
On December 10, a handful of brands, designers and models will be in London for this major event, the Fashion Awards. The ceremony will recognize those who have marked the year 2018.
Victoria Beckham, Clare Waight Keller, Jonathan Anderson, Roksanda Ilincic and Simone Rocha are among the nominees for the British Designer of the Year Award for Women’s Fashion, one of the most prestigious awards.
Delpozo chooses a new artistic director
German designer Lutz Huelle is expected to succeed Josep Font as head of the creative direction of the Spanish company Delpozo.
The luxury house Delpozo has found a successor to Josep Font, who left the ship last September. Lutz Huelle is expected to take over the creative direction of the Spanish brand, which has not yet formalized the information.
After working at Maison Martin Margiela, Lutz Huelle then founded his own ready-to-wear brand, which runs every season during Paris Fashion Week.
We still need to find out when the German designer will take up his duties and when his first collection for the Spanish company will be presented.
What's Your Reaction?
Claire Domergue, spécialiste de la communication dans le secteur du luxe, s’est entourée d’experts pour créer le premier média consacré à l’actualité économique du Luxe et de la mode. Ce dernier attire tout particulièrement l’attention de ses lecteurs sur l’ensemble des acteurs majeurs de ces secteurs qui y partagent leurs expériences, visions et savoir-faire. Plus qu’un webzine spécialisé, Luxus Plus est un système d’information multi-sectoriel, devenu l’outil de veille de référence pour les professionnels du luxe et de la mode. Nos newsletters de veille contribuent en effet à sensibiliser nos lecteurs aux mutations qui touchent les industries du luxe. Grâce à une veille accrue et à une excellente connaissance du secteur, nous nous intéressons aux principaux enjeux économiques et technologiques de la mode, la haute horlogerie, la joaillerie, la gastronomie, des cosmétiques, parfums, de l’hôtellerie, l’immobilier de prestige…