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SPECIAL EDITION Fashion. Beauty. Business. PARISOCTOBER 3, 2016 The Collections Dior’s New DayParis In her debut collection for Dior, Maria Grazia Chiuri proclaimed her ascent, with a fresh take on daytime dressing, including variations on fencing motifs, because, she said, sport involves body, mind and passion. For more on Dior and Paris, see pages 5 to 14. Photograph by Delphine Achard by Photograph creativity ı productions ı logistics BRANDART BRANDART usa italy www.brandart.it 6 East 74th Street 3rd Floor Via Andrea Costa, 19, 21052 New York NY 10021-USA [email protected] Busto Arsizio (VA)-italy +19173883186 +390331634392 OCTOBER 3, 2016 3 BUSINESS TOP 5 H&M Eyes Launch TRENDING Of New Brands in ’17 ON WWD.COM ● The Swedish fast-fashion The Swedish firm said net profit fell 9.2 in recent years, is gradually beginning to retailer saw third-quarter net percent to 4.82 billion kronor, or $567.6 subside. million, in the three months to Aug. 31, “These big investments, which have profits fall 9.2 percent. 2016. Operating profit dropped 9 percent burdened our profits for a long time, have BY ALEX WYNNE to 6.25 billion kronor, or $735.9 million, been necessary since they have created a resulting in an operating margin of 12.8 good and solid base for sustainable and percent, compared with 14.9 percent a profitable growth,” said Persson. Hennes & Mauritz AB is aiming for a year earlier. “We are investing across the board, and bigger brand portfolio. “The sales performance in the third there [has been] a lot of investment in I.T. In reporting lower third-quarter profits, quarter and increased markdowns due to and technology; that is mainly where we’ll the Swedish fast-fashion retailer said a higher opening stock than planned had see the pace slow down going forward,” it planned to launch one or two retail a negative impact on profit development,” said Vinge . brands next year to add to its existing stated H&M chief executive officer Karl-Jo- In the first nine months of 2016, H&M H&M, COS, Monki, Weekday, Cheap Mon- han Persson. “In addition, profits contin- saw net profit down 17.2 percent to 12.72 day and & Other Stories banners. ued to be negatively affected by the strong billion kroner, or $1.51 billion, while oper- “There are lots of different ideas com- U.S. dollar effect on purchasing costs.” ating profit dropped 17.1 percent to 20.09 ing in, and we are working on several,” Net sales increased 6.4 percent to 48.98 billion kroner, or $2.39 billion. Watch the said H&M head of investor relations Nils billion kroner, or $5.78 billion, H&M said, Sales in the nine-month period grew 5 Vinge during a conference call. “At the while sales including VAT grew 8 percent percent, or 7 percent in local currencies, Valentino Spring moment, there are two very interesting in local currencies. to 161.77 billion kroner, or $19.22 billion. banners we are focusing on. We hope to “Sales were good in most markets until Among H&M’s top-10 markets, reported 2017 Paris launch one, maybe two of them next year. mid-August,” said Persson. “Thereafter revenues declined 1 percent in Germany, “When it comes to new brands and sales were negatively affected by unsea- the retailer’s largest market, and dropped Fashion Week development, we still see a lot of opportu- sonably hot weather which continued into 5 percent in the U.K. and 7 percent in nities,” he said, without going into further September, resulting in a challenging start Switzerland. Sales were flat in France Show Live on detail. to the autumn season.” and China, a key growth market for the H&M opened 211 stores in the nine Sales including VAT in September are company where it opened 47 new stores WWD months to August, and a total of 425 expected to increase just 1 percent in between January and August. Chinese ● Take your front row seat at stores net are planned for 2016 as a local currencies as unseasonably warm sales in local currency grew 5 percent, Pierpaolo Piccioli’s first solo whole. Without this expansion, Vinge weather continues in many markets, the H&M said. admitted, sales in comparable stores were retailer said, discouraging the purchase of The strongest sales increases were seen show for Valentino. down “slightly” in the third quarter. winter clothes. in the U.S., where the company opened The group had a total of 4,135 stores at H&M, which has been investing heavily 30 stores in the first nine months of the ● Inés de la Fressange the end of August, including 3,784 under in technology development and global year, and in Sweden. Both countries saw its core H&M banner. expansion as well as rolling out newer revenues increase 7 percent in reported Officially Presents The retailer on Friday reported that its store formats including COS and & Other terms. During Paris Fashion Week third-quarter profits were hit by increased Stories, said the pace of its investment, Currencies are expressed at average markdowns and higher purchasing costs. which has weighed heavily on its profits exchange rates for the period. ■ ● The Duchess of Cambridge Bolsters Sales For Canadian Company Sentaler ACCESSORIES The Heineken collection includes a tote, a ● Are Flip-Flops About backpack, a luggage roller that has a han- dle allowing the tote to slip onto, and a To Go High Fashion? Petry Resigns as special Tumi PAX jacket that converts into ● a neck pillow. The items feature a green Watch the Dior Spring stripe to represent Heineken. 2017 Paris Fashion Week Tumi Creative Director In an interview in April at Tumi's Show Live on WWD offices, Petry said, "We’re excited for what the future holds. We will remain a luxury ● As global creative director, platform in their portfolio. Things don’t Petry was responsible for happen overnight." He said for the near elevating the brand through future at least, “It’s business as usual.” He product design and multiple described the company's outlook as "very NEWSMAKERS positive." high-level collaborations. The fall 2016 line marked the first time This Week’s Most BY LISA LOCKWOOD Petry put his imprint on the collection. Talked About Names “I’m not changing Tumi from black to Michael Petry has resigned his post as white,” Petry said. “I am trying not to In Our Industry global creative director of Tumi, effective alienate anybody. Certainly, this is an today. evolution," he said last spring. Petry joined Tumi in 2015 and was Among recent contributions was the responsible for elevating the brand addition of men's products to the Landon through product design and multiple Michael Petry and Haydon lines, new matte black fin- high-level collaborations and partnerships ishes and paint-splash print finishes and with musicians, athletes and designers. In August, Samsonite International S.A. five additional women’s premium hand- He also led visual merchandising and closed on its deal to acquire Tumi for $1.8 bags called the Mariella collection aimed Stella McCartney Phoebe Philo store design. billion. Samsonite said it was interested in at the modern chief executive officer “for Petry declined to comment on his doubling Tumi's revenues, which stood at all your devices and personal effects.” departure and hasn’t disclosed his plans. $548 million in 2015, in three years. Tumi There is also a woven east-west leather A successor hasn’t been named yet. also disclosed a new collaborative cam- tote as part of the NoHo line for the first Prior to joining Tumi, Petry was senior paign with Heineken aimed at introducing time, and a fall color palette that’s “dark vice president and creative director at the lifestyle brand to a new audience. Past and saturated,” emphasizing navy, pine The Frye Co. for eight years, where he partners for Tumi have included Public and merlot and complemented by “fun is credited with expanding the brand. School, leather goods brand Parabellum, prints” such as an indigo floral print. Last Earlier, he was a senior design director high-end eyewear label Garrett Leight week, the company said women’s is the Demna Gvasalia Jean-Paul Goude for Prada and before that served as senior California Optical, fashion designer Mark brand's fastest-growing business, both design director of footwear for Ralph Lau- McNairy, street gear retailer Kith and at its retail stores and in its wholesale ren. He began his career at Adidas USA. men’s boutique store Union Los Angeles. business. ■ Dominique Maître Goude by Delphine Achard; by Gvsalia Feugère; Stéphane Philo by Jones/WWD/REX/Shutterstock; Katie by Giannoni; McCartney Giovanni by photograph Valentino OCTOBER 3, 2016 4 BUSINESS Ermenegildo Zegna Group Buys Majority Stake in Bonotto ● As part of the strategic what Bonotto calls the “fabrics of the mem- agreement, the Bonotto family ory,” woven on early 20th century shuttle looms and washed in the traditional way will keep a 40 percent stake in in wooden tanks. This is limited produc- the textile manufacturer. tion for top brands. Bonotto has devised the concept “Slow [manufacturing] Plant, BY LUISA ZARGANI which is a manifesto against industrial stan- dardization and serial, low-cost production. MILAN — In a strategic move, the Ermene- In Bonotto, all machines are mechanical, gildo Zegna Group has taken a controlling not electronic or automatic.” stake in Bonotto SpA, a high-end textile The total area of Bonotto’s plant in Italy manufacturer based in Molvena, near covers about 270,000 square feet with 200 Vicenza.