Men dominated this week in the luxury industry for a few different reasons. Men’s fashion week, a missing exec and new collections were all anyone could talk about.
Vittorio Missoni, an executive for the namesake fashion brand, was traveling from Los Roques to Maiquetia on Friday when his plane disappeared. His family, the Venezuelan government and the Italian Ministry for Foreign Affairs are all reportedly on the case to find the missing passengers, which included Mr. Missoni, his partner Maurizia Castiglioni, two of their friends and two crew members. The most recent reports suggest that Mr. Missoni had been kidnapped, per WWD.
Meanwhile, the runways heated up in London with menswear collections. Labels including Tom Ford, Alexander McQueen, E. Tautz and Jonathan Saunders debuted their latest collections. Moreover, the brand Missoni announced its intent to keep its upcoming runway show on Sunday on-time.
Shoe designer Nicholas Kirkwood announced a new men’s line that dropped in London earlier this week. The collection comprises a classic oxford, desert boot, smoking slipper and lace-up ranging $520-$950.
Veering away from men’s fashion, luxury automakers also had a big week. Industry game-changers including Mercedes-Benz, Audi, BMW and Porsche all reported phenomenal December 2012 and 2012 year sales.
Many luxury-focused reports said that consumers were afraid to spend last year, due to economic the Fiscal Cliff general economic uncertainty year-round, but it seems as though consumers were still spending on big-ticket purchases. This could be because they knew that if they spent more on high-quality purchases now, maintenance fees would be less down the road, when money issues are more uncertain.