Louis Vuitton, Dior Power LVMH’s Sales
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Louis Vuitton, Dior Power LVMH’s Sales

Big fashion brands bolster results, while Champagne revenue falls amid pandemic.

By Matthew Dalton
Wed, Jan 27, 2021 3:33amGrey Clock 2 min

PARIS—LVMH Moët Hennessy Louis Vuitton SE said surging revenue at its biggest fashion brands, Louis Vuitton and Dior, propped up the luxury-goods company’s results during the fourth quarter, offsetting other businesses such as Champagne that have fizzled during the pandemic.

The Paris-based conglomerate on Tuesday said revenue in the quarter fell 3% to €14.3 billion ($22.4 billion). Sales at its fashion and leather-goods division—where Louis Vuitton and Dior account for most of the revenue—rose 18%. Revenue for all of 2020 fell 17% to €44.7 billion. Net profit for the entire year was down 34% at €4.7 billion.

The results show how some of the marquee brands of luxury fashion have gained market share during the pandemic. Louis Vuitton, the world’s top-selling luxury brand, Dior and Hermès have posted strong sales growth since boutiques were allowed to reopen after lockdowns in March and April. Smaller brands—both inside and outside LVMH—have lagged behind.

Drawn by the performance of Dior and Louis Vuitton, investors have sent LVMH’s shares to near record highs, brushing aside concerns about the future of the luxury business during and after the pandemic. The company’s market capitalization is now €260 billion, solidifying the place of Bernard Arnault, LVMH’s chief executive and controlling shareholder, among the ranks of the world’s wealthiest people.

Jean Jacques Guiony, LVMH’s chief financial officer, said Louis Vuitton and Dior had a strong pipeline of new products that they continued to roll out despite the lockdowns. The brands also maintained fashion shows in reduced formats and continued digital-marketing efforts when others were forced to pull back drastically. Dior, for example, held a closed-door fashion show for its cruise collection in Lecce, Italy, in July, while rival brands pushed the unveiling of new collections until later in the year.

“We did it when nobody else was talking,” Mr Guiony said. “It was really Dior and Vuitton taking the bulk of the customers’ attention.”

Mr. Guiony said that Fendi and Celine—two of LVMH’s midsize fashion brands—also gathered momentum toward the end of the year. Marc Jacobs managed to turn a profit in 2020 for the first time in years, Mr Guiony said, though that came after a wave of layoffs at the American brand.

LVMH’s performance also benefited from strong consumption of Hennessy, the world’s top-selling cognac brand. Sales in the U.S. surged, LVMH said, bolstered by large government stimulus payments to consumers. Global cognac volumes were down only 4% for the year and rebounded in the second half, the company said.

That helped offset the poor performance of LVMH’s Champagne division, which includes brands such as Veuve Clicquot and Dom Pérignon. With weddings and birthday parties cancelled because of social-distancing rules, consumers had little reason to sip a glass of bubbly, pushing down Champagne sales by 19% for the year.

LVMH just completed its purchase of the American jeweller Tiffany & Co. at the start of this year, after the pandemic nearly cancelled the $15.8 billion deal. Mr Arnault pulled the plug on the merger in September before deciding to see it through after Tiffany agreed to a small discount.

The acquisition could be riding a tailwind: Jewellery sales in the final months of last year were one of the bright spots in the global luxury business, Mr Guiony said.



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Retro Kitchens Are Everywhere—and the Ultimate Rejection of the Sterile Luxury Trend

Playful 1950s style spotlights details like coloured cabinets, checkerboard and mosaic tile patterns, vintage lighting, and SMEG appliances

By TRACY KALER
Mon, Apr 22, 2024 6 min

The 1950s spawned society’s view of kitchens as the heart of the home, a hub for gathering, cooking, eating and socializing. Thus, it makes perfect sense that the same decade could inspire today’s luxury kitchens.

“The deliberate playfulness and genius of the era’s designers have enabled the mid-century style to remain a classic design and one that still sparks joy,” said James Yarosh, an interior designer and gallerist in New Jersey.

That playful style spotlights details like coloured cabinets, checkerboard and mosaic tile patterns, vintage lighting, and SMEG appliances—all of which are a conspicuous rejection of the sterile, monochrome kitchens that have defined luxury home design for years. One of the hottest brands to incorporate into retro-style kitchens, SMEG is turning up more these days. But the question is: How do you infuse a colourful refrigerator and other elements from this nostalgic era without creating a kitschy room?

“The key to a modern, fresh look in your kitchen is to reference, not imitate, signature looks of the 1950s,” said New York-based designer Andrew Suvalsky, who often laces retro style throughout the rooms he designs. He said using the period as inspiration will steer you away from imagining a garish space.

“When it comes to incorporating that retro-esque look, it’s a fine dance between looking beautiful and looking kitschy,” added Lisa Gilmore, a designer in Tampa, Florida. Gilmore suggested balancing contemporary pieces with vintage touches. That balance forges a functional yet attractive design that’s easy to live with while evoking a homey atmosphere––and ultimately, a room everyone wants to be in.

Colour Reigns Supreme

Suvalsky said one way to avoid a kitschy appearance is to mingle woods and colours, such as lacquered base cabinets and walnut wall cabinets, as he did in his Montclair, New Jersey, kitchen.

“Mixing colours into your kitchen is most effective when it’s done by colour-blocking––using a single colour across large areas of a space––in this case, zones of cabinetry,” he explained. He tends to lean toward “Easter egg colours,” such as baby chick yellow and pale tangerine. These soft pastels can suggest a starting point for the design while lending that retro vibe. But other hues can spark a vintage feel as well.

A mid-century-inspired kitchen by Blythe Interiors.
Natalia Robert

“Shades of green and blue are a timeless base foundation that work for a 1950s vintage look,” said designer Jennifer Verruto of Blythe Interiors in San Diego. But wood isn’t off the table for her, either. “To embrace the character of a mid-century home, we like a Kodiak stain to enhance the gorgeous walnut grain,” she said. “This mid-tone wood is perfect for contrasting other lighter finishes in the kitchen for a Mid-Century Modern feel.”

Since colour is subjective, a kitchen lined with white cabinetry can assume a retro aesthetic through accoutrements and other materials, emanating that ’50s vibe.

“The fun of retro designs is that you can embrace colour and create something that feels individual to the house and its homeowner, reflecting their tastes and personality,” Yaosh said. He recommended wallpaper as an option to transform a kitchen but suggested marrying the pattern with the bones of the house. “Wallpaper can create a mid-century or retro look with colours and hand-blocked craftsmanship,” he said. “Mauny wallpapers at Zuber are a particular favourite of mine.”

Suvalsky suggested Scalamandre wallpapers, for their 1950s patterns, and grass cloth, a textile that was often used during that decade. He also likes House of Hackney, a brand that “does a great job reinventing vintage prints in luscious colours,” he noted. “Many of their colourways invert the typical relationship between light and dark, with botanical prints in dark jewel tones set over light, more playful colours.”

Materials Matter

Beyond wall covering, flooring, countertops and backsplashes can all contribute to the 1950s theme. Manufactured laminate countertops, specifically Formica, were all the rage during the decade. But today’s high-end kitchens call for more luxurious materials and finishes.

“That’s a situation where going the quartz route is appropriate,” Gilmore said. “There are quartzes that are a through-body colour and simple if someone is doing colorued cabinetry. A simplified white without veining will go a long way.” She also recommended Pompei quartz Sunny Pearl, which has a speckled appearance.

A kitchen designed by James Yarosh that incorporates pops of yellow.
Patricia Burke

But for those who welcome vibrant colour schemes, countertops can make a bold statement in a vintage kitchen. Gilmore said solid surface materials from the era were often a colour, and quartz can replicate the look.

“Some brands have coloured quartz, like red,” she said. But keeping countertops neutral allows you to get creative with the backsplash. “I‘d pull in a terrazzo backsplash or a bold colour like a subway tile in a beautiful shade of green or blush,” Gilmore said. “Make the backsplash a piece of art.”

Suvalsky also leans toward bright and daring––such as checkerboards––for the backsplash. But depending on the kitchen’s design, he’ll go quieter with a double white herringbone [tile] pattern. “Either version works, but it must complement other choices, bold or simple, in the design,” he explained.

Neutral countertops with a bold backsplash, designed by Lisa Gilmore.
Native House Photography

Likewise, his flooring choice almost always draws attention. “My tendency is more toward very bold, such as a heavily veined marble or a pattern with highly contrasting tones,” he noted. Yarosh suggested slate and terrazzo as flooring, as these materials can make an excellent backdrop for layering.

Forge a Statement With Vintage Appliances 

As consequential as a kitchen’s foundation is, so are the appliances and accoutrements. While stainless steel complements contemporary kitchens, homeowners can push the design envelope with companies like SMEG when making appliance selections for a retro-style kitchen. Although Suvalsky has yet to specify a SMEG fridge, he is looking forward to the project when he can.

“I think they work best when the selected colour is referenced in other parts of the kitchen, which helps to integrate these otherwise ‘look at me’ pieces into the broader design,” he noted. “They are like sculptures unto themselves.”

“For our mid-century-inspired projects, we’ve opted for Big Chill and the GE Cafe Series to bring a vintage look,” Verruto added. Similar to SMEG, Big Chill and GE offer a vintage vibe in a wide selection of colours and finishes, alongside 21st-century performance.

Can’t commit to a full-size appliance? Sometimes, a splash is enough. Gilmore tends to dust her retro kitchens with a coloured kettle or toaster since her clients are likelier to add a tinge with a countertop appliance or two. “Mint green accessories make it pop, and if in five years they are over it, it’s not a commitment,” she said. “It’s a great way to infuse fun and colour without taking a major risk.”

Deck out the Breakfast Nook

Kitchen dining areas present the opportunity to introduce retro lighting, furniture, and accessories to complete the look. Flea markets and antique markets are excellent places to hunt for accompaniments.

“Dome pendants and Sputnik chandeliers are iconic styles that will infuse vintage charm into your kitchen while also easily complementing a variety of other styles,” Verruto said.

A retro breakfast nook desinged by Andrew Suvalsky.
DLux Editions

Suspend a vintage light fixture over the classic Saarinen table, and you can’t go wrong.

“Saarinen Tulip Tables are almost always guaranteed to deliver a home run in nearly any interior, especially a 1950s-themed kitchen,” Suvalsky said. “The simplicity of its form, especially in white, makes it nearly impossible to clash with.”

To really channel the vibe of this era, Verruto suggested local vintage stores and brands such as Drexel Heritage and Lexington. Dressing the windows counts, too. “Cafe curtains in a chintz pattern will make for a fabulous finishing touch,” she said.

Meanwhile, Yarosh delights in selecting tabletop items, including novelty stemware and other trappings ubiquitous in the 1950s. “Mid-century kitchens also need to have pedestal cake plates and maybe a cloche to keep a cake,” he mused. “I love the opportunity to curate these details down to the correct fork and serving pieces.”

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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