This week’s luxury news focused mainly on New York Fashion Week, drawing attention to trends, colors, designers and people that the industry is likely to hear more from this year. Fashion Week closed out on Thursday, with shows from Marc Jacobs, Ralph Lauren, Norma Kamali and Calvin Klein.
In other news, Marc Jacobs was named the Diet Coke creative designer for 2013. As this year was Diet Coke’s 30th Anniversary, each of the three cans revealed this week played on a different fashion decade theme: ’80s, ’90s and Aughts. Mr. Jacobs designed three cans, three bottles and three ad campaigns.
Also, LVMH Moët Hennessy Louis Vuitton announced Jean-Christophe Babin as its next CEO of Bulgari – the last executive exited the post to take over Louis Vuitton at the end of last year. Mr. Babin, who was previously CEO of Tag Heuer, will take up the post in the next few months.
Along those lines, Lew Frankfort will be succeeded by Victor Luis as CEO on Coach Inc. Mr. Frankfort will move to executive chairman, an advisory role that will focus on brand strategy.
Finally, there was some great news for the luxury industry: French fashion powerhouse Hermès announced an astounding 22.5-percent increase in sales in the fourth quarter. Even if affluent consumers aren’t buying in quantity, they are definitely buying quality leather goods that will endure. Other high-end brands that announced huge profits include Michael Kors, Longchamp, L’Oreal, Hugo Boss and Ralph Lauren.