Richemont Shoots Down LVMH Tie-Up

Casablanca's AI Marketing Campaign; Alec Leach: 'The World Is On Fire But We're Still Buying Shoes'

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WHAT YOU NEED TO KNOW TODAY: SATURDAY, MAY 13, 2023 With its Spring/Summer 2023 campaign, luxury label Casablanca joins a growing list of brands using AI for campaign imagery. In their financial results this week, e-commerce brands and retailers showed they can boost profitability or growth, but not both. Richemont denied it was a takeover target for LVMH as the company reported full-year earnings above analyst estimates. Hermès has opened a new leather goods workshop as part of a plan to increase production. James Dyson spoke with The Business of Beauty about the company's plans to roll out nearly two dozen new tools, starting with this week's Airstrait. Plus, this week on The BoF Podcast, author Alec Leach discusses his new manifesto and how we can create a better relationship with fashion.

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SUSTAINABILITY The BoF Podcast | The World Is On Fire But We're Still Buying Shoes By BoF Team

BoF's Imran Amed speaks with Alec Leach about his manifesto on how we can move towards a better relationship with fashion. READ MORE

TECHNOLOGY What Really Went Into Casablanca's AI-Generated Marketing Campaign By Marc Bain Founder Charaf Tajer compared AI to electronic music or sampling: It may be done on a computer, but it still takes talent, creativity and effort to produce good results. READ MORE

DIRECT-TO-CONSUMER For Many Digital Retailers, Profits and Growth Appear to Be Mutually Exclusive By Malique Morris

DTC brands and e-commerce platforms delivered some rare good news this week in the form of shrinking losses, but investors were largely unimpressed. READ MORE

LUXURY Richemont Shoots Down Reports of LVMH Takeover Interest By Bloomberg Chairman Johann Rupert spoke after the Cartier-owner reported annual earnings above analyst estimates. READ MORE

LUXURY Hermès Opens New Leather Goods Workshop as Sales Approach $15 Billion By Robert Williams The French brand has accelerated the pace of opening new workshops and training centres in response to robust demand for its leather goods, which has long exceeded supply. The company's annual revenues rose 23 percent excluding currency swings to €11.6 billion ($12.6) in 2022, READ MORE

BEAUTY James Dyson's Unlikely Second Act as a Beauty Mogul By Priya Rao Since 2016, the vacuum company has found an entirely new audience with its dryers and multi-stylers. Its latest launch, the Airstrait, is the first of an anticipated 20 new products over the next four years. READ MORE

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NEWS BRIEFS Condé Nast Names Nick Hotchkin as Chief Financial Officer THG Shares Fall After Failed Takeover Talks With Apollo H&M's Mugler Collaboration Has People Queueing Around the Block JD.com's CEO Exits After a Year at the Helm as Growth Dwindles

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