This week in luxury, LVMH Moët Hennessy Louis Vuitton made a major move with an 80 percent stake in Loro Piana, a deal which cost €2 billion, or $2.6 million, the biggest acquisition the conglomerate has made since its buy of Bulgari in 2011. Most investors think that this is a great acquisition for LVMH; Loro Piana is the maker of fine luxury goods including $1,000-plus cashmere sweaters. LVMH is quickly building its portfolio of niche product-makers, such as its acquisition of Pasticceria Confetteria Cova Srl, owner of the Cova brand and the Cova Montenapoleone Srl firm in June, and men’s fashion firm Arnys and tannery Les Tanneries Roux last year. Building smaller niche companies could help secure LVMH’s position as the most powerful luxury purveyor, buyer and owner in the world.
In other fashion news, designer L’Wren Scott announced she would be collaborating with Banana Republic for a holiday collection. The collection will span 50 apparel and accessory pieces ranging from sequin party dresses and bejeweled cardigans to tailored jeans, lace dresses and pencil skirts.
Three original prints will be featured prominently throughout the collection: a dramatic lip print in bold hues of red and violet, peonies in red and pink and a candy stripe of black, violet and different shades of red. The prints find their way on scarves, pajamas, blouses, blankets, socks, scarves and jeans.
Meanwhile, luxury cruise company Regent Seven Seas has ordered its first new ship in over a decade. The Seven Seas Explorer is said to debut in 2016.
Given the turmoil in the cruise industry over the past year or so, it’s notable that some brands are still looking to go above and beyond to make their fleets newer and better, both to attract first-time customers and retain loyalists.