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The 9th edition of Altagamma Consumer and Retail Insight, held at the Fondazione Cariplo Congress Center in Milan, discussed the luxury sector. The evolution of consumer and retail Altagamma Chairman Matteo Lunelli and Managing Director Stefania Lazzaroni presented two new studies at the event: "True-Luxury Global Consumer Insight" in cooperation with Boston Consulting Group (hereinafter referred to as "BCG") "Luxury Retail Evolution" in collaboration with Bernstein and several major Italian brands in lifestyle, premium, and consumer goods retail At the opening of the conference, Matteo Lunelli, Chairman of Altagamma, emphasized that "the consumption propensity of high-end consumers is growing in double digits. The number of points of sale is stable, increasing in size significantly, and creating unique experiences that are increasingly personalized and unique. Consumer habits, values, and omni-channel distribution methods are changing, while new collaboration and integration strategies are emerging both downstream and upstream of the supply chain." To summarize the key highlights from both reports: Big brands "fight" for stores; how can small brands respond? Luca Solca, Senior Luxury Industry Analyst at Bernstein, presents the first report, Luxury Retail Evolution, saying that "big brands have begun to gradually build larger, more meaningful, and more profitable stores... which is the right thing to do, because in a world where you can shop from your phone, and the stores have to be good enough to be worth going to. The problem is, the smaller brands can’t afford the cost of these stores." Luca Solca investigated the evolution and prospects of the retail strategies of luxury companies and found that since 2019, the store network of major luxury brands has shrunk by about 1%. Luxury retail is still concentrated in relatively few cities, with the top 25 cities holding about 40% of luxury stores. Milan's failure to crack the top 10 is partly due to the shrinking size of the famous fashion district, Via della Spiga, and the relatively few major brands opening stores at the local airport. Above: The top 25 cities have about 40% of luxury stores. At the same time, the flagship stores have grown in size and quality over the years, with large and very important stores incorporating elements of the brand's specific DNA and the local city in which they are located in the store architecture. However, these large stores "do not represent a loss". On the contrary, due to the corresponding investment in communication, the turnover may reach hundreds of millions of euros, and the profit margin is very high. At the same time, these new flagship stores have also become destinations for many tourists due to their huge scale, which far exceeds the normal function of the store. Above: FY 2022, FY 2022, FY 2022, and EBIT Margin of Major Luxury Companies Retail upgrades extend from flagship stores to events, pop-up stores, exhibitions, collaborations, and more. Competition is expanding, putting pressure on smaller competitors. And in the luxury industry, scale is a key competitive advantage, helping to further widen the gap between big brands and the rest. In the 90 years from 1932 to 2022, the competition in the luxury goods industry has been continuously escalating. From 1932, when Omega sponsored sports events, to 2022, when Gucci opened a metaverse store, brands have spared no effort in creating new ways to play. Luca Solca also said that smaller brands need to be creative and open stores that "make an impression." Niche brands need to be down-to-earth, humble, and realistic, look for new locations that cost less, and open "affordable" stores. According to Luca Solca, "It's better to have a small but profitable store that takes the 'sword off the edge' route, and the store's profits will also help support the development and growth of the brand. For this type of brand, having large stores without a great communication experience is a 'non-returning strategy." The report puts forward the following six suggestions for small brands to create "Profitable" stores (below): The number of stores is small but fine (Fewer stores or better stores); Carry out a D2C (direct-to-consumer) integration strategy (D2C Integration), both online and offline; Site selection focuses on key cities (Key Cities Focus), focusing on the top 25 cities; Flexible positioning, identifying advantages (alternative or edge locations), Create very differentiated stores (Very Different Stores); Start small and start with smaller stores (Smaller Stores/Start Small); Fewer than half of luxury shoppers are satisfied with the integrated shopping experience. BCG Managing Director and Senior Partner Filippo Bianchi and BCG Managing Director and Partner Guia Ricci mainly introduced the research focus of "True-Luxury Global Consumer Insight". This year, BCG and Altagamma conducted exclusive interviews with 2,600 luxury customers and found that customers of physical luxury goods are dissatisfied with digital experiences. In fact, although satisfaction with luxury brick-and-mortar channels is twice that of the mass market, compared with mass retailers and pure e-commerce, luxury brands are less satisfied with the online shopping experience, with less than half of consumers satisfied with the comprehensive online and offline experience of luxury brands. Brands have spent decades perfecting a "fantastic" offline shopping experience but are lagging behind when it comes to online shopping, with satisfaction levels at just 80 percent of mass retailers, the report said. Therefore, in order to upgrade the experience, the report suggests, "Brands cannot continue to think from the perspective of channels (more than 50% of brands have launched a multi-channel strategy today), but need to decide whether to use hyper-specializing to ‘defense'. Each touchpoint plays a role to guide customers to get the best experience, or through hyper-personalizing to 'offense'. All touchpoints play their own role, adapting to each customer's needs." The spending willingness of Chinese high-consumers is 50% higher than the global average "True-Luxury Global Consumer Insight" report also pointed out that high-spending consumers (about 20 million people) continue to show good interest in luxury goods, and 40% of true luxury consumers expect to increase spending in the next year. The report defines high-spending consumers as customers who spend more than approximately EUR 38,000 in luxury goods per year. Among them, after the epidemic, the spending willingness of this group of people in China is 50% higher than the average level, and that in the United States is 40% higher than the average level. However, willingness to spend in Europe is less optimistic, at 40% below average. The Chinese luxury market is recovering and is expected to grow by 15-20% in 2023 compared to 2022. However, the Chinese market environment is changing compared to the pre-pandemic environment, such as: Strong growth in local demand (expected to account for 82% of total spending in 2023) but unlikely to return to 2019 levels; The digital ecosystem is a big opportunity, with 46% of Chinese consumers making domestic purchases online. Consumers are more diverse; although high-spending groups support the market (accounting for about 40% of total consumption), young people under the age of 30 and consumers in lower-tier cities will increasingly contribute to the growth of the industry's contribution. Other opportunities: the Middle East, generative AI, experiential luxury, etc. In addition, the Middle East market also offers promising opportunities for the luxury industry due to local developments driven by Vision 2030, increased domestic demand, and growth in high-end tourism. The Middle East personal luxury goods market was worth approximately EUR 15 billion in 2023 and is expected to reach EUR 30–35 billion in 2030. Among them, the United Arab Emirates (UAE) and Saudi Arabia (KSA) are the two main drivers of growth in the region. In 2023, the personal luxury goods market in Saudi Arabia will be worth approximately EUR 3 billion, with a CAGR of 10–12% from 2022–2030, and the market valuation is expected to reach about 6 billion euros by 2030. At the same time, in terms of groups, in 2022, millennials and Generation Z will bring more than 200 billion euros to the luxury industry, twice the value of 2016. By 2026, this value will double again, accounting for 75% of the market share. According to the report, brands must consider the characteristics of target audiences, design diversified engagement strategies, and provide personalized products and communication experiences. Generative artificial intelligence (GenAI) has become a priority for many brand executives. In luxury goods, generative AI offers significant opportunities across the entire value chain, with a very large impact on marketing, personalization, and customer experience. In addition, this technology also helps to expand the "VIC" (Very Important Consumer) group. The report also stated that after the performance of personal luxury goods has gradually returned to the level before the epidemic, the performance of experiential luxury goods is also picking up, with a faster growth rate than the former 57%.

The latest report released by the digital consulting company Lectra based on its data analysis tool Retviews pointed out that the design of luxury leather goods is tending to be low-key, and huge logos and bright colors have been eliminated. Leaning towards "minimalism". According to Retviews, the vast majority of trendsetting luxury brands lean toward neutrals, with black as the dominant color, particularly Prada and Gucci, but options such as grey, beige, brown, and white are also available. Although the French designer brand Jacquemus also follows the trend of neutral colors, its color schemes are mostly light colors, with pink and blue accounting for 12% and 17% of the entire category, respectively. In addition, as far as the European market data is concerned, the position of the accessories category among the major luxury brands is still very important. Among them, Gucci's accessories accounted for 35%, Bottega Veneta accounted for 21%, and Hermès accounted for 57%. From a price point of view, the retail price of handbags from almost all top luxury brands is more than 1,000 euros, and the average price is between 2,000 and 2,500 euros, except for Hermès, whose 58% of products are priced at more than 3,500 euros. According to Retviews, Prada has the most "affordable" prices, with 5 percent of its bags retailing between 500 and 1,000 euros and 10 percent between 1,000 and 1,500 euros. Among them, the Re-Edition 2005, made of recycled nylon, benefited from this pricing strategy and achieved great success last year, attracting a group of new customers. It is worth noting that during the period from May 2021 to March 2023, the price of this Prada bag will increase from 1100 euros to 1450 euros, an increase of 32%. In addition to raising prices, Prada has also expanded its color range. Coincidentally, the price of Bottega Veneta's Teen Jodie bag also increased by 32% between December 2021 and June 2023, from 2200 euros to 2900 euros. Another manifestation of this low-key style is that today's non-logo handbags are more expensive than handbags with brand logos. Taking LOEWE as an example, the average selling price of leather products with a logo is 1633 euros, a decrease of 5% over the previous year, while the average selling price of leather products without a logo is 2095 euros, an increase of 22% over the previous year. This also means that the next target of luxury brands is the customer group with connoisseur taste, and they will develop in a more exclusive direction.

Today, May 1, is Law Day in the United States, a time to reflect on the role of law in the foundations of the nation and to recognize its importance to society. Other parts of the world set it as May Day or International Workers' Day. The annual festival has a specific theme each year, and this year's theme is "Cornerstones of Democracy: Civics, Civility, and Collaboration." Laws and systems constrain citizens' illegal behavior and, at the same time, guarantee the freedom and safety of the people through order. This plays a vital role in the functioning and development of society. As a lawyer in the industry, it is inevitable to deal with important clients, from the group CEO to individual clients. Dressing has become an important tool for lawyers to show their professionalism, and at the same time, it can also show a person's spiritual outlook and make clients more trustworthy. Like female lawyers, unlike men who often wear some suits and ties, they will have more room to play, such as professional shirts, dress, work suits, and more flexibility in style, color, and tailoring. Sometimes, choosing the right clothes can make a female lawyer outfit not only more professional but also more attractive. Generally, in the workplace, we first need to be simple and not fancy, just like @Lipsticks and Lattes below. Through careful search and comparison, the author has selected some unmistakable collocations for everyone, and there must be something you like. @Lipsticks and Lattes Suits: Look 1: Zappos M.M.LaFleur Moreland Jacket - Origami Suiting Look 2: Zappos M.M.LaFleur Merritt Jardigan Look 3: Zappos M.M.LaFleur Yiyan Jacket Washable Wool Twill Look 4: ARITZIA Babaton Agency Blazer Relaxed single-breasted wool blazer Dress: Look 1: White House Black Market Sleeveless Blazer Dress Look 2: White House Black Market Sleeveless V-Neck Colorblock Sheath Look 3: Express Collared Half Button Front Mini Portofino Shirt Dress Look 4: Express Sleeveless Wrap Asymmetrical Hem Mini Blazer Dress Look 5: Nordstrom Rack CALVIN KLEIN Moto Tank Dress Look 6: Nordstrom Rack MAGGY LONDON Short Sleeve Necktie Midi Dress Look 7: Nordstrom Rack ELLEN TRACY Accordion Pleat Midi Dress Look 8: Nordstrom Rack SAM EDELMAN Cowl Neck Sheath Dress Jumpsuits: Look 1: Macy's DKNY Women's Flutter-Sleeve Wide-Leg Jumpsuit Look 2: Macy's TAHARI ASL Women's Cross-Neck Belted Sleeveless Jumpsuit Look 3: Macy's TOMMY HILFIGER Flutter-Sleeve Cropped Jumpsuit Look 4: Macy's TOMMY HILFIGER Women's Halter-Neck Belted Jumpsuit Look 5: Dillard's Alex Marie Barbara Split V-Neck Crossover Waist Slit Front Leg Jumpsuit You can choose what suits you according to your needs. In addition, there are some shirts, earrings, and high heels that can also be used as a reference for matching! Related articles: 2023 Urban Beauty's Lapel Shirts These Under-the-Radar Ear Studs You Would Like to Buy High Heels Lovers Must-See Classic Pumps for This Spring

From July 10 to 13, the new season of Berlin Fashion Week will be rooted in historical background through a series of top catwalk shows, creative installations, panels, numerous supporting events, and the simultaneous PREMIUM the group trade fair that makes Berlin Fashion Week a meeting point for national and international fashion and creativity to celebrate contemporary fashion and cultural diversity and shape the future of the fashion industry. This fashion week, the German Fashion Council (FCG) will organize the competition for contemporary fashion concepts on behalf of the Berlin Senate Department for Economic Affairs, Energy, and Public Enterprises. From 77 applications, an expert jury selected 18 designer brands from Berlin and other regions of Germany to present their latest collections at the fashion week, including established brands such as ODEEH, Esther Perbandt, RIANNA + NINA, and William Fan. It emergs designer brands such as Acceptance Letter Studio, Fassbender, Haderlump Atelier Berlin, LML Studio, Milk of Lime, Namilia, Olivia Ballard, Richert Beil, Sia Arnika, SF1OG, as well as Bobkova, Litkovska, DZHUS, and PODYH from Ukraine. Franziska Giffey, a senator for the department, said: "Berlin Fashion Week is a showcase platform for Berlin's emerging fashion textile industry. Fashion 'Made in Berlin' is fresh, bold, and forward-looking. There are nearly 4,800 companies in the industry, 25,500 employees and a growing economy. We hope to develop Berlin Fashion Week into a stage to showcase the visionary creative craftsmanship of designers from Germany and around the world and build an international reputation. It is a pleasure to once again showcase Ukrainian talent and their series." Berlin Fashion Week will take place across multiple locations and platforms. Der Berliner Salon returns to Kronprinzenpalais from Charlottenburg and will focus on displaying the works of 44 design and fashion talents. In addition to the opening event, it also includes a multi-day event composed of various salons to showcase Germany's latest Creative talent and branding. The 2ewest platform once again presents the show series of the winners of the contemporary fashion concept competition after January. They will be held for the first time at the Berlin State Museum. In addition to the Kronprinzenpalais, the Alte Nationalgalerie and the James-Simon-Galerie will also present some shows. This collaborative model showcases the special synergy between Berlin's architecture, art, and fashion, offering a new perspective on the dialogue between the iconic city's cultural institutions and the contemporary fashion industry. In January 2023, designers Rebekka Ruetz, Danny Reinke, Marcel Ostertag, and Kilian Kerner teamed up to create a concept collection for Fashion Week. During Fashion Week, they will present this work at the Verti Concert Hall with the support of W.E.4 Fashion Days. In addition, there is also a Studio2Retail project linked with merchants, and special promotions will be launched at that time. The Neo.Fashion project provided a stage for German and Ukrainian university graduates, who will have the opportunity to present their creations to the public at the Alte Münze. After the first show in January, the Beyond Fashion Berlin trade war once again came to the Atelier Garden. The participating brands will be divided into five categories related to sustainability to meet the needs of the public. This summer, two major trade fairs, PREMIUM and SEEK, will come to Berlin on July 11 and 12. PREMIUM includes brands such as Silk Laundry, Shaft Jeans, Peuterey, Kennel Schmenger Schuhmanufaktur, and Les Tricots de Lea, and SEEK is organized by Armedangels and brands such as Veja, Sandqvist, Helinox, or Edwin. It is worth mentioning that Ukrainian brands will also have their own exhibition space in Premium this season. In addition, curators from the Platte Berlin youth community will also have an exclusive area. A series of communication activities on key trends in fashion, business, sustainable development, technology, and beauty will also be provided during this season's fashion week. Among them, the 2020–30 summit on sustainable development will be held in a smaller format to provide insights on the future of the fashion industry. There will also be a Yoonaverse Forum in July, discussing all aspects of digital transformation within the fashion industry, and it will also be streamed in the Berlin Metaverse, where attendees can hear the latest news from the industry. ​

Nail art seems to be expanding further into the realm of the daring, creative, and wonderfully whimsical this summer. However, one should not forget the importance of monochrome and minimalism. Some dared with gorgeous designs and quirky combinations, while others embraced timeless elegance in pastel shades, perfect for the season. As we all know, all nail trends continue to be heavily influenced by the fashion system and art. By the way, we can't ignore the rise of the "clean girl aesthetic" movement, which continues to win admirers around the world. This minimalist trend presents the perfect opportunity to express your personality through a clean, elegant, and glamorous look. They are perfect for any occasion, from day to evening, from casual to elegant. Minimalist shades also offer the opportunity to experiment with nail shapes and lengths, from classic staples to trendy vibes. Remember, minimalism does not equate to mediocrity. Instead, it's an opportunity to celebrate beauty in its truest form. Experiment with different finishes such as satin or gloss, and if you want to get a little creative, you can always complete the minimal look with fine details such as strings or polka dots in a complementary color. The Best Beauty Advice When It Comes to Nail Polish: This summer, some of the best-known fashion houses and nail polish brands will offer you a wide range of color options to suit your every taste and desire. Brands such as Dior, Chanel, Gucci, Essie, Mesauda, Manucurist, and Licia Florio are among the top names, guaranteeing you uncompromising quality, innovation, and style.

German affordable luxury brand MCM announced a new strategic direction and brand image, "presented with optimized design language, consumer experience, and lifestyle, facing digital nomads in the 21st century". The brand's new season's work completed its first show on June 18 during the current Milan Men's Fashion Week. MCM pointed out that the latest positioning of the brand is a digital-driven, intelligent, and sustainable luxury brand. "This renewal opens up a new era of creativity, vision, and innovation for the brand, featuring an ultra-modern strategy, by revitalizing the brand's heritage codes and driving a change in the product portfolio to include a new and comprehensive range of ready-to-wear and accessories to realize the repositioning of the brand." MCM's latest works The new direction of MCM has also been accompanied by changes at the management level. Recently, Sabine Brunner (pictured below) was appointed President of MCM Global AG and a member of the MCM Executive Committee, responsible for a wide range of activities of the company, including creative, category development and planning, marketing, licensing, branding, commercial, etc., reporting to the Chairman and Reporting to Chief Vision Officer (CVO) Sungjoo Kim. Prior to joining MCM, Brunner served as Brand Manager for Roger Vivier, where he led the transformation of the brand through directly operated retail stores into one of the most successful and unique brands in the luxury accessories market. She was also CEO of Bonpoint, a French luxury childrenswear brand, and developed the Asian market for Tod’s Group while managing the Hong Kong subsidiary. In addition, three new leadership roles have been added, spanning creative, digital, and marketing, all reporting to Brunner. Global Creative Lead: Tina Lutz Creative Director: Katie Chung Chief Digital and Marketing Officer: Marie-Laure Lequain Among them, Tina Lutz (pictured left below) and Katie Chung (pictured below right) will jointly lead and develop MCM's global design and creative direction. Their first work will appear in the SS24 joint series, and this design will "reinvigorate the brand’s iconic DNA and transform conceptual design into a culture and a way of life." As Global Head of Creative, German-born Tina Lutz will be responsible for leading the design and creative direction of the global design studio based in Milan. Previously, she was the creative director of her own brands, Lutz Morris and Lutz & Patmos New York, and also worked at Issey Miyake and Calvin Klein. In 2000, Tina Lutz co-founded Lutz & Patmos, a luxury knitted women's ready-to-wear brand in New York, and has served as creative and brand director. After living in New York for 24 years, Tina returned to Europe and launched Lutz Morris, a luxury handbag brand which is made in Germany, based on her passion for craftsmanship, responsible production, and sustainability. Katie Chung, originally from Seoul, South Korea, will take on the role of creative director "to lead the development of all categories in collaboration with Tina going forward". She served as the creative director of designer labels Wooyoungmi and Solid Homme, leading them to the next level. In addition, in order to establish a new channel strategy, the company also appointed Marie-Laure Lequain (pictured below) as Chief Digital and Marketing Officer (CDMO), "responsible for leveraging market opportunities to accelerate commercial growth and, through sophisticated, strategic marketing planning, maximize profitability". The company explained that the new distribution model will highlight the brand's own digital presence through enhanced, powerful storytelling and a streamlined online and offline consumer experience. It is reported that Lequain has more than 20 years of experience in the fields of luxury and fashion. He has held several leadership positions at Gucci. His past performance includes shaping the jewelry business from scratch, reshaping the watch series, and leading the digital business to great success. With a dual background in digital and merchandising, Lequain has an unparalleled understanding of value propositions, transforming customer experiences, and scaling businesses across channels and platforms. All of these are of great benefit to the future development of the brand. Sungjoo Kim, Chairman and Chief Visionary Officer, MCM Group, said, "I am delighted to introduce this new leadership team who will be the engine and new chapter of MCM's business development, revolutionizing the brand to launch a higher level of future luxury, and (will make MCM) one of the foremost leaders in design, experience, and digital excellence in the industry. They bring a wealth of experience, knowledge, and expertise in luxury accessories and ready-to-wear, which will be critical to the Group's rebranding. Exciting new business directions are important." Related article: Recent New Excellent Release Designs 06, 20 MCM X Crocs

VivaTech, Europe's largest start-up and technology event, and founding partner LVMH, organized VivaTech 2023 at the Paris Expo Porte de Versailles. This is also the 7th edition of the event. Through this event, the LVMH Group once again showcased the innovative achievements of its brands and partner startups. This year, no fewer than 18 LVMH Maisons presented 25 innovations in the venue's two spaces, The Dream Box and the LVMH Court. The LVMH Pavilion The Dream Box, built around the theme of "Dream", is located in Hall 1. The infield space is about 600 square meters, all of which adopt ecological design, and the appearance of the pavilion will change continuously throughout the day. In addition to being used by VivaTech, the 18 startups shortlisted for the LVMH Innovation Prize 2023, as well as the 6 previous winners, are showcased in the Dream Box, whose solutions have already helped some businesses enhance the customer experience of the future. The LVMH Court, located in Hall 2, is the first time LVMH has established for VivaTech a space entirely dedicated to sports innovation, showcasing the solutions provided by LVMH's brands to improve the sports experience of athletes and sports enthusiasts. On the first day of the event on June 14th, the LVMH Group announced two strategic partnerships: One is to cooperate with Epic Games, the developer of the games "Unreal Engine" and "Fortnite", aiming to change the group's creative approach , to bring customers an immersive new experience of product discovery; the second is to cooperate with Apple and its Tap to Pay on iPhone, which will first be launched in stores of LVMH's brand house in the United States, creating exciting new in-store experience. How are brands harnessing the power of technology? Fendi has brought a unique and immersive experience to many customers at the Dream Box. The white architectural model on the stand perfectly replicates Fendi's headquarters in Rome, which is also the stage for the brand's AR (Augmented Reality) experience. Through interactive devices, participants can put on headsets and experience a wondrous virtual tour of this iconic location. Dior Couture has created a unique customer application called Dior Star for brand sales staff, which combines digital innovation and human expertise to facilitate sales to deepen their connection with customers. This breakthrough creative solution is part of an integrated connected ecosystem that supports Dior sales consultants throughout the sales process. Sales staff can use Dior Star to prepare for one-on-one customer visits, such as reviewing customer backgrounds, preparing wish lists, booking time, using tap-to-pay to complete purchases and payments quickly and easily, tax refunds, etc. Louis Vuitton has launched a VR experience called "Asnières Immersive" (pictured below), which combines the brand's history and future technology. With the help of virtual reality technology, audiences around the world can enjoy a first-person perspective, revealing a 'Louis Vuitton like never before'. The brand said, "With the help of VR equipment, participants will be taken to Asnières, the birthplace of Louis Vuitton, to visit the historic workshop and the former residence of the founder, explore the brand's iconic products and extraordinary craft." Loro Piana unveiled the brand's innovations in traceability and blockchain technology, showing how its products can be traced and authenticated via the luxury industry's Aura blockchain. At present, Loro Piana customers will receive a digital product passport after purchase, which records detailed information such as the source of raw fiber, weaving date, weaving place, and when and where the garment was made. This conference is also the debut of Tiffany & Co. in VivaTech. The Maison presents a special edition of one of the most iconic High Jewelery pieces, the Bird on a Rock brooch designed by Jean Schlumberger in 1956 (below). In addition to admiring the real-life version of the jewelry (a diamond-encrusted bird perched on a faceted amethyst), visitors can use a digital app to customize the details of the brooch and choose to place the bird on any of the stones, resulting in a personalized virtual brooch with a bird on a rock and "see the bird flying over it" through AR (Augmented Reality) technology. While the brands were holding exhibitions, in the corner of the venue, LVMH human resources also had close conversations with visitors, introducing many career opportunities in technology and digital aspects of LVMH and its brands to potential job seekers. LVMH Innovation Competition Announced at VivaTech On June 15th, the second day of the conference, it was also the day when the LVMH Innovation Competition Awards Ceremony was held. Today's stage is handed over to start-ups. A record number of more than 1,300 start-ups participated in the seventh edition of the LVMH Innovation Competition this year. Among them, seven start-up companies were awarded, whose solutions bring great potential to the future of the luxury industry. The full list of winners of the 2023 LVMH Prize for Innovation is as follows: Omnichannel and Retail Awards: Save your Wardrobe Operational Excellence: LivingPackets Immersive Digital Experiences: Absolute Labs Sustainability and Green Technology: Woola Employee Experience, Diversity and Inclusion: Neobrain Images and Media: Vidmob Data and Artificial Intelligence Special Award: Chatlab Among them, London-based start-up Save your Wardrobe won the first place. The award ceremony was co-hosted by supermodel Julia Sieger and LVMH Group Virtual Innovation Ambassador Livi, and the award was presented by LVMH Chairman Bernard Arnault. Save your Wardrobe provides brand customers with a technology-driven, digital platform for garment care and repair, which helps drive the life cycle of products. Hasna Kourda, co-founder and CEO of Save your Wardrobe, said, "This award is a tremendous recognition of the work we've accomplished and a monumental milestone in our journey, inspiring us to continue pushing the boundaries of luxury experiences while protecting, Determination to extend the legacy of the Maisons under LVMH." Bernard Arnault congratulated all the startups shortlisted and the winners, and highlighted the values that LVMH and the startups share - innovation, excellence, entrepreneurship and commitment, saying, "For a startup, just having an idea is Not enough. Getting support for flawless execution is absolutely essential". "A full 20% of the start-ups participating in this year's competition are in the category of sustainability and green technology," said Hélène Valade, director of environmental development at LVMH, during the award presentation. Estonian start-up Woola is the leader of this category of start-ups. Founder Anna-Liisa Palatu said, "This award will help us move towards our goal of replacing plastic packaging with wool. About 200,000 tons (of plastic packaging) are thrown away in Europe every year." The Innovation Award in the Data and AI category went to the startup Chatlabs. Gonzague de Pirey, Omnichannel and Data Officer of LVMH Group, said, "The solutions provided by this company can guide traffic from social media and allow brands to create unique customer experiences. Artificial intelligence and data are everywhere, and data and artificial intelligence are our key factors. The core of all solutions for startups recognized today." Subsequently, Sojin Lee (pictured below), CEO of TOSHI, a representative of previous award-winning companies and a logistics service company aimed at bridging the gap between online and in-store retailing of luxury goods, said that in the year since winning the 2022 LVMH Innovation Award, her company " Absolutely amazing in every way." With the support of La Maison des Startups (House of Entrepreneurs), LVMH's incubation system for technology startups, TOSHI has made great progress in cooperation with seven brands including RIMOWA and Louis Vuitton. In addition to the exhibition, nearly 60 speeches were held on the LVMH stage during the four days of the exhibition. Iris Decamps, head of product, collections and innovations at Veuve Clicquot, detailed some of the packaging innovations introduced by the winery at the meeting, saying that Veuve Clicquot spent two years developing a "composed of 50% hemp fiber and 50% The new packaging, made from recycled paper, "plays a key role in helping the brand achieve its 'target to reduce carbon emissions by 50% by 2030'." On the first day of VivaTech, LVMH held a roundtable conference titled "Talent Stories: Leading the Digital and Tech Transformation of the LVMH Group (Talent Stories: Leading the Digital and Tech Transformation of the LVMH Group)". At the meeting, Frédérique Rousseau, director of human resources at LVMH Holding & Other Activities, shared the group's proud experience of recruiting 900 people for the technical and digital teams within 18 months. She said, "These talents are the engine behind our growth." Gonzague de Pirey, chief omnichannel and data officer of LVMH Group, emphasized the importance of omnichannel at the meeting, saying that experience shows that omnichannel customers are more satisfied, buy more and are more loyal to brands. Frank le Moal, director of information technology at LVMH Group, pointed out, "LVMH has a huge demand for technical talents in omni-channel and e-commerce, as well as customer service, supply chain, design, data, network security and other fields. Today, digitalization is everywhere in LVMH, Included in our workshop." Related article: LVMH Chairman Arnault Hosts Elon Musk in Paris

Quiet luxury has emerged as one of this year's biggest fashion trends, and while some doubt its durability, wholesale figures show it is gaining support from retail buyers. At the end of 2022, in the spring and summer trend report released by Net-a-Porter, quiet luxury was one of the seven keywords. According to data released by Joor, a fashion wholesale management platform, in recent months, keywords such as "Quiet Luxury", "Stealth Wealth," and "Old Money Style" have soared in Internet searches. Meanwhile, Joor's data "confirms the trend," notably implying "an increasing shift toward logo-free products and minimal branding." In 2023, retailers' orders for logo products will drop by 22% year-on-year. This can be a problem for brands because, "in fact, brands are offering 32% more logo products." This shift in buying patterns was most pronounced in North America, where retailers saw a sharp 43% drop in orders for logo-branded products, followed by EMEA, where retailers saw orders drop by 16%. Joor also pointed out that the global trend of low-key luxury "has not affected retailers in Asia Pacific as much as other regions", and that local consumers' demand for logo products continues, with retailers in Asia Pacific purchasing 8% more than last year with logo products. Joor also said that luxury brands that symbolize quiet luxury have received more orders. After researching 15 representative luxury brands on its platform, including The Row, Lemaire, John Lobb, Sease, Valextra, and Johnstons of Elgin, orders for 2023 are up 6% compared to last year, with wholesale transactions up 22%. Joor CEO Kristin Savilia calls it a "succession effect," explaining further: "While the logo isn’t dead, it’s taking a backseat in favor of a luxurious, unbranded look that’s subtle, understated, and more about the wearer."

Alessandra Rossi, CEO of Florence-based Italian fashion buyer store and fashion e-commerce platform Luisaviaroma, announced in an interview with Italian media outlet MFF that the opening of the first store in the United States is scheduled for January 2024, and the new store will be located in the 1 Bond Street, NoHo district of Manhattan, New York. Alessandra Rossi pointed out: "Choosing to open a store in the United States is one of the key points of our international development strategy, and the American market will play an increasingly important role." The United States is currently Luisaviaroma's second-largest market and has returned to double-digit growth over the past three months, representing an accelerating trend in this market. According to previously disclosed news, Luisaviaroma's upcoming retail space is located in a six-story apartment with an area of 7,855 square feet, adjacent to retailers such as Showfields and Kith, and next to the fashion membership club Zero Bond across the street. It is reported that the company has signed a long-term lease with the landlord with an annual rent of US$3.2 million. Talking about the development strategy, Alessandra Rossi said: "Compared with 2022, we expect the overall average growth rate of turnover in 2023 to be 15%–18%." Our main market is Italy, and we estimate that this year's turnover will grow 22%–25%. Overall, Luisaviaroma's growth has been very significant and has remained constant due to the increased online penetration of Luisaviaroma in recent years and the importance of the location of Florence. To a lesser extent, this trend also applies to other major European markets such as France, Spain, and the Netherlands." Alessandra Rossi added, "Overall, the competitive environment is certainly volatile, with macroeconomic uncertainty and price increases for luxury brands in general, making it all the more important to focus attention and investment on target markets and customers." On the evening of June 14th, local time, during the 104th Pitti Uomo of Florence men's wear week, Luisaviaroma also joined hands with the British version of "Vogue" and its editor-in-chief and editorial director of Vogue European, Edward Enninful OBE, held in Michelangelo Square. A special open-air fashion show called "Runway Icons". As an extension of the Luisaviaroma 90th Anniversary Fashion Show in 2019, the event looked back at the evolution of fashion and style over the decades, creating a visual dialogue between past, present, and future, with more than 50 international brands on display, totaling approximately 1,500 guests. Renowned artist Andrea Bocelli opened the show with an exclusive performance. Followed by the most influential faces in the fashion industry, such as Natalia Vodianova, Imaan Hammam, Mariacarla Boscono, Vittoria Ceretti, Eva Herzigova, Ashley Graham, Stella Maxwell, Maye Musk, and other supermodels, the show symbolizes the tradition and modern DNA of each brand's clothing. To celebrate this special event, Luisaviaroma has teamed up with select brands to launch a capsule collection. Co-branded brands include: 16Arlington, Alexander McQueen, Alexandre Vauthier, Amina Muaddi, Blumarine, Christian Louboutin, Coperni, Dolce & Gabbana, Ferragamo, Giorgio Armani, Jimmy Choo, Magda Butrym, Max Mara, Moncler, Mugler, Nensi Dojaka, Paco Rabanne, Ray-Ban, Tom Ford, Victoria Beckham, Vivienne Westwood, and Zimmermann. Every Thursday from June 15, 2023, to November 2023, Luisaviaroma will create a dedicated section on the official website and release a special capsule collection in collaboration with partner brands. The event is an opportunity for Luisa Via Roma to partner with Google to enable the real-time sale of runway looks through @ShopWithGoogle. A selection of runway looks and a selection from Luisa Via Roma are now available for purchase via @ShopWithGoogle, allowing users to get even more involved in the event in an exclusive "see now, buy now" experience. Florence, Italy, June 14, 2023: Andrea Bocelli performs during Luisa Via Roma and British Vogue's Runway Icons at Piazzale Michelangelo on June 14, 2023, in Florence, Italy. (Photo by Daniele Venturelli/Daniele Venturelli/Getty Images for Luisaviarom a) In 1930, Luisa Via Roma's first store opened on Via Roma in the center of Florence, and it was reopened on the opening night of the 102nd Pitti Uomo Men's Wear Week on June 14 last year. It is reported that in 2018, Luisaviaroma briefly tested the waters in Manhattan and opened a pop-up store in cooperation with Spring Studios and Spring Place for nearly a month. At the end of 2021, Italian private equity fund Style Capital invested approximately 130 million euros to acquire a 40% stake in Luisaviaroma, aiming to support Luisaviaroma's future growth operations.

As many of you know, summer is the season of sun, beaches, and great outdoor adventures. Be careful, though, as this time of year can be a real challenge for our skin. Temperature, UV exposure, and humidity can affect hydration, causing damage and dulling the skin, resulting in stress. Luckily, this season, there are plenty of summer skincare products specially formulated to protect, moisturize, and revitalize your skin. Every year, cosmetics and skincare brands strive to offer innovative solutions to meet the skin's needs, especially during the summer. From lightweight moisturizers to powerful serums, refreshing gels to gentle cleansers, there's something for every skin type and need. These products combine high-quality ingredients with advanced formulas to provide effective and long-lasting results. A proper beauty routine is essential if you want radiant and protected skin. In addition to daily cleansing and hydration, using specific products in the summer can make all the difference. While scouting out products for summer skincare, don't forget to take care of your body. A nourishing face cream helps keep skin soft, firm, and smooth, while a rebalancing mist instantly refreshes and soothes the face. Some of the Best Skin-Care Products of the Moment, Perfect for Summer Among these products are those of Byoma, a well-known skin care brand that offers a wide range of effective and unique products. Then, Sol de Janeiro's Brazilian Bum Cream helps firm and smooth body skin for suppleness and visible improvement. Or, Estée Lauder's Advanced Night Repair Serum repairs and replenishes skin with a proprietary formula, while Clinique's Moisture Surge 100h Auto-Replenishing Hydrator delivers intense, long-lasting hydration. Finally, Sunday Riley's Pink Drink Serum, which is great for sensitive skin, provides firming hydration, while Truly's Mary Jane CBD Brightening Serum revitalizes the complexion for a youthful glow. What are you waiting for? Get ready for summer with healthy, bright, and protected skin. Discover the secrets of summer skin care with our selection of high-quality products. Don't let the heat get in the way of your radiance; experience the benefits of summer skincare.

The 2023 French Open (Roland Garros Tournament) came to an end at the Roland Garros clay court in Paris. The 36-year-old tennis superstar Djokovic won the French Open men's singles championship for the third time and his 23rd Grand Slam. The championship trophy was in the bag, and a new world record was created. The Chinese team of Wang Xinyu and Chinese Taipei star Xie Shuwei won the French Open women's doubles championship. On and off the field, we noticed that in addition to the Swiss luxury watch brand Rolex and the French fashion sports brand Lacoste appearing as official sponsors, more brands, such as Fila, On, the French modern jewelry brand FRED, and others, have shown their presence at Roland Garros through cooperation with athletes, licensing, and other means. Lacoste: Men's singles champion Novak Djokovic's jersey In this battle with the Norwegian star Casper Ruud, Djokovic won the game in straight sets, creating an unprecedented 23 Grand Slam titles and the "three-lap Grand Slam" (four Grand Slams). He has won at least three times, surpassing the Spanish player Rafael Nadal, who is known as the "King of Clay" and ranking first in the history of men's tennis. On June 11, when he stood on the podium, he wore a jacket customized for him by Lacoste — the number "23" with the brand's iconic crocodile logo on the chest. The cooperation between the two parties began in 2018. The agreement at the time stipulated that in addition to creating sportswear for Djokovic, Lacoste also paid him about US$9.4 million per year, and the two parties subsequently launched a joint series. In 2021, Lacoste announced a contract extension with Djokovic until 2025. At the start of this year's French Open, Lacoste also announced that Bulgarian tennis player Grigor Dimitrov has joined the brand's TEAM LACOSTE as a new brand ambassador. Other tennis players Lacoste has worked with include Daniil Medvedev and Venus Williams. Among them, Daniil Medvedev won his first clay championship and the sixth Masters championship in his career in Rome in late May. As a brand that has been inseparable from tennis since its birth, the origins of Lacoste and Roland Garros are far more than sponsors of athletes and can be said to be witnesses of each other's birth and growth. In 1927, four French players: Jacques "Toto" Brugnon, Jean Borotra, and Henri Cochet René Lacoste won the Coupe Davis in the United States, earning them the nickname "Musketeers" in tennis. To commemorate their achievements, the French Tennis Federation (Fédération Française de Tennis) decided to build a stadium. The Stade Français, which organizes various international competitions in France, voluntarily gave up a piece of land with only one additional condition: name it Roland Tennis Garros. Since 1928, the French Open has been held on this red soil. In 1933, René Lacoste wore the polo shirt designed by himself at Roland Garros for the first time. This classic product that combines tennis and French fashion has subverted the tennis dress and is still considered one of the most formal tennis match dresses. Lacoste has been one of the cooperative brands of the French Open clay court since 1971 and became an official senior partner in 2019. The current cooperation between the two parties will continue until 2025. In addition to the brand logo that appears in every corner of the court, Lacoste will also launch related products every year. Judging from Roland Garros's official online store products, Lacoste's products account for the highest proportion among many cooperative brands. Among the total 757 products on sale, 181 are from Lacoste. Sports brands: Asics, On, Nike, Fila, Lotto, New Balance, etc. It is worth mentioning that, as the brand spokesperson, Djokovic wears Lacoste clothing all the time, but he wears old Japanese Asics tennis shoes on his feet. Known for its running shoes and tennis shoes, Asics has partnered with numerous tennis players, including Matteo Berrettini, Claire Liu, Alex de Minaur, Alycia Parks, Jasmine Paoloni, Belinda Bencic, and many more. On the field, we also saw more fashionable and cutting-edge sports brands. Swiss cutting-edge sports brand On made its debut at the French Open this year, with the upper body of the new spokesperson and Polish female player Iga Świątek. This year, Iga Świątek, wearing a white sleeveless top and tennis skirt, successfully defended her French Open women's title and remains the world's number one. This is her third French Open title and her fourth Grand Slam title in her career. In November 2019, Swiss tennis superstar Roger Federer joined On, which started out as running shoes, as an investor, consultant, and partner. Since then, the brand has made great progress in the tennis field. The two parties also jointly launched the Roger Center Court 0-Series, the Roger Pro, and more. In March of this year, Iga Świątek, who parted ways with the old Japanese label Asics, reached a cooperation with On. Under the terms of the agreement, she will wear a new line of professional apparel developed by On during competition and a custom version of The Roger Pro high-performance tennis shoes, which Federer custom-designed in close collaboration with On Labs' Lightning innovation team, to meet the needs of players' individual playing styles. Other niche sports brands that appeared in this French Open include: Italian sports brand Lotto, the Indian Maharadja, Uomo Sport's luxury Italian sportswear line Donna Sport, etc. Lotto has launched the Paris Style collection, featuring a mix of russet orange and garnet prints. Aleksandar Kovacevic (left in the picture below), Alize Cornet (right in the picture below), and other athletes' upper body brand clothing. Founded in Amsterdam in 2009, The Indian Maharadja is a Dutch lifestyle hockey brand. Dutch athlete Botic van de Zandschulp wears the label in the opening round (below). Brands such as Nike, New Balance, and Fila have put a lot of thought into the design. The Nike Paris series is quite innovative in silhouette and tailoring. Inspired by the natural orientation of collagen fibers in the skin, the Nike Paris Slam Dress features a print that radiates lines all around, four tank tops adorned with chic cut-out fashion straps, and the tennis team's double-layered skirt, asymmetrical cropped hem and intricate racerback cut are on-trend. Athletes who have worn the collection this time around include Jessica Pegula (below), Olga Danilovic, Aryna Sabalenka, and more. Coco Gauff, 19, (pictured below), featured a bold, minimalist New Balance ensemble with a blue tank top and black skirt trimmed only with white lines. Notably, she donned her signature New Balance CG1 sneaker, which features a basketball-inspired silhouette and comes in a new Twisted Net colorway. Coco Gauff is currently the only WTA (Women's Tennis Association) player to own a personal signature tennis shoe. Coco Gauff's partnership with New Balance began in 2018 and was renewed in 2022, with the collaboration launching her signature line of tennis shoes. Fila drew inspiration from classic French fashion to create the La Finale collection for this year's French Open. Luxury brands: Rolex, Fred, Lancel, and Sisley The most well-known luxury brand partner at the French Open is Rolex. Since 2019, Rolex has been Roland Garros' chief partner and conference timekeeper. This year, Rolex's brand spokesperson, Iga Świątek (pictured below), won her third French Open women's singles title and her fourth Grand Slam singles title. In addition to Rolex, Fred, Lancel, Sisley, and other brands have become official partners as licensees and each launched a joint series with Roland Garros. Pictured above: Fred, a French modern jewelry brand under the LVMH Group, collaborated with Roland Garros to launch a special FRED x ROLAND-GARROS special collaboration item, which uses the iconic nautical buckle design of the brand's Force 10 series and is available in pure platinum and gem inlays. The gem-inlaid model is composed of gold and 64 white diamonds, yellow diamonds, and citrines. Tennis motifs and the Roland Garros logo are engraved on both sides of the clasp. In addition to the terracotta color version launched for the first time, the chain rope also launched a limited edition of terracotta red and white intertwined. Above: The French high-end leather goods brand Lancel, a subsidiary of the Italian leather goods group Piquadro, and Roland Garros’ joint series include tote bags, zipper wallets, square scarves, sunglasses, sunglasses chains, backpacks, travel bags, and other products, all decorated with the exclusive common logo of the brand. They want to present a relaxed and sophisticated style on the court. Above: With more than 25 years of research into antiaging care and sun protection, French skincare brand Sisley is the official beauty licensee of Roland Garros. Sisley's range of sun care products is designed to control the effects of sun exposure and strengthen the skin's natural defenses for long-term protection. For example, the set jointly launched by the two parties contains two face and body sunscreen products for travel.

German luxury fashion group Hugo Boss announced the latest progress of the "CLAIM 5" strategy and raised its financial goals for 2025: Sales revenue target raised to EUR 5 billion by 2025 (11% CAGR compared to 2022). EBIT (earnings before interest and taxes) of at least EUR 600 million and an EBIT margin of at least 12%. Offset additional business investment with higher gross margins. The cumulative free cash flow target for the period 2021–2025 is approximately EUR 2.5 billion. So far, the "CLAIM 5" strategy has made the following progress: Thanks to the acceleration of revenue growth after brand renewal, the market share of BOSS and HUGO has increased significantly. Significantly increased brand value, reflecting a significant increase in global brand relevance. Using different brand lines, we successfully created a "24/7 lifestyle brand" (a lifestyle brand that provides 24/7 wear). The launch of the digital project Hugo Boss Digital Campus has significantly enhanced data analysis capabilities. Best-in-class omnichannel experiences generate broad momentum globally. Initial progress has been made in establishing a state-of-the-art operating platform. Daniel Grieder, CEO of Hugo Boss, said: "With Claim 5, we have introduced the right strategy at the right time. Thanks to the dedication and passion of our team, we have achieved an impressive recovery and a remarkable result. This will enable us to achieve our medium-term financial target of 4 billion euros this year, two years ahead of schedule. "We have everything we need to be successful, which is why we are raising our performance targets today, and we aim to achieve revenues of EUR 5 billion and an EBIT margin of at least 12% by 2025." In order to achieve the financial goals for 2025, Hugo Boss will continue to invest in its business and strictly implement the "CLAIM 5" strategy. Against this backdrop, the Group is committed to making further progress on its five strategic propositions, capitalizing on global growth opportunities, and driving substantial improvements in revenue and profit in 2025 and beyond. Claim 1: Elevating the Brand: Building on Strong Momentum to Further Drive Brand Relevance Following a successful rebrand, Hugo Boss will build on the brand momentum of BOSS and HUGO to further strengthen its presence with consumers and drive brand power for years to come. In order to further increase brand relevance, especially among younger audiences, Hugo Boss will continue to pursue and develop a dual-brand strategy. Furthermore, in the coming years, BOSS and HUGO will employ two distinct marketing strategies aimed at activating consumers at all touchpoints and maximizing consumer influence. Against this backdrop, the group will continue its successful digital-first marketing strategy, supported by star-studded events, strong collaborations, and unique brand campaigns. Therefore, Hugo Boss will continue to maintain its marketing investment between 7% and 8% of group sales until 2025 (7.9% in 2022). At present, the Group's target is that by 2025, the sales of BOSS men's clothing will be about 3.5 billion euros (previous target: 2.6 billion euros), the sales of BOSS women's clothing will be about 500 million euros (previous target: 400 million euros), and HUGO's sales will be approximately EUR 1 billion (previous target: EUR 800 million). CLAIM 2: Product Is King: Use Different Brand Lines to Create a "24/7 Lifestyle" Brand Image Hugo Boss will continue to emphasize further enhancing the 24/7 lifestyle image of both brands, ensuring customers are perfectly dressed for any occasion. To achieve this, the company will continue to exploit the full potential of its sub-lines BOSS Black, BOSS Orange, and BOSS Green menswear collections and take advantage of the exclusive collection BOSS Camel, which will be launched in late 2022. Building on these successes, BOSS reintroduces the BOSS Orange collection for womenswear alongside the introduction of the BOSS Camel collection. Therefore, from now on, products ranging from high-end tailoring to smart leisure and active lifestyles will be part of BOSS menswear and BOSS womenswear. In addition, with the upcoming HUGO BLUE brand series (pictured below) to be launched in early 2024, Hugo Boss will clearly seize the opportunity of denim clothing to further win the favor of Generation Z and young consumers. The two brands, BOSS and HUGO, will continue to maintain their superior price-value proposition, thereby establishing their unique positioning in the high-end/affordable luxury segment. Claim 3: Digital Leadership: Leveraging Data-Driven Insights to Improve Efficiency Harnessing the full potential of digitalization will continue to be a key driver in realizing the group's vision of becoming the world's leading high-end technology fashion platform. Over the past two years, Hugo Boss has made tremendous strides in further digitizing key business activities, from digital trend detection and product creation to AI-powered pricing and innovative experiences in the metaverse, setting the stage for further initiatives. This year, the Hugo Boss Digital Campus (pictured below) was officially inaugurated in Porto, Portugal, which is also the core of the group's digital journey. By leveraging data-driven insights, Digital Campus will further drive efficiencies along the value chain while also supporting the goal of a seamless customer experience across all consumer touchpoints. Claim 4: Omni-Channel-Driven: Leveraging a High-Quality Channel Mix to Drive Growth Over the past two years, Hugo Boss has made substantial progress in translating its regained brand presence across all consumer touchpoints and delivering a best-in-class omni-channel experience to customers. Going forward, the company will continue to leverage its high-quality channel portfolio globally. Physical retail: Hugo Boss aims to increase physical retail channel revenues to over EUR 2.5 billion by 2025 (previous target: around EUR 2 billion). The Group therefore plans to increase store productivity by at least 3% per year and invests EUR 600 million (previously target: EUR 500 million) between 2021 and 2025 to modernize, further optimize, and selectively expand the global retail footprint, including the launch of the latest, more digital BOSS and HUGO concept stores and the expansion of the Group's full-price store network to around 500 by 2025 (2022: 470). Physical wholesale: At the same time, Hugo Boss will continue to consolidate its strength in the physical wholesale market. The two major brands have successfully increased their popularity and market share in major department stores in Europe and the United States. In order to enhance the business level in emerging markets, Hugo Boss will further strengthen the global franchise business, increasing the total number of full-price franchise stores from 300 to about 500 in the next few years. Overall, the group is currently targeting physical wholesale sales of approximately EUR 1.3 billion by 2025 (previously: approximately EUR 1 billion). Digital channels: The digital business is expected to continue its double-digit growth trajectory in the coming years, with digital sales still on track to reach over €1 billion by 2025. Hugo Boss will focus on further driving traffic and conversions on the flagship store website while facilitating the growth of digital partners. Licensing business: By 2025, the licensing business is still expected to contribute 200 million euros in revenue to the group. In terms of regions, Hugo Boss will continue to drive its broad momentum across all regions, thereby further increasing market share by 2025. EMEA region: The Group remains committed to taking full advantage of the strong momentum in the EMEA region (Europe, Middle East, and Africa), with sales expected to grow at a mid-to-high single-digit compound annual growth rate (2022-2025), exceeding EUR 2.8 billion, and expected to Strong contributions will be made from major markets and key growth markets, such as the Middle East. Americas: Revenue is expected to grow at a high single-digit CAGR (2022–2025), reaching approximately EUR 1 billion by 2025. In particular, the group will continue to launch the "24/7 lifestyle" brand image in the important US market. In the past two years, Hugo Boss has achieved exceptionally strong development momentum in the US market with this brand positioning. Asia Pacific: Revenue will grow at a low double-digit compound annual growth rate (2022-2025), and by 2025, the region's revenue share will expand from the current 13% to around 20%, which means that revenue levels will reach about 1 billion euros. In this regard, it will be of particular importance to continue to unlock the full potential of the brand in China. Additionally, Hugo Boss is equally committed to realizing its full potential in Southeast Asia and the Pacific. Claim 5: Organized Growth: Building a Strong Operating Platform for Future Growth Over the past two years, Hugo Boss has successfully transformed its operating model to a platform approach and implemented a streamlined, brand-led organizational structure to deliver profitable growth and ensure disciplined execution of strategy globally. In order to promote growth and further improve efficiency, the group will invest more in the supply chain. Hugo Boss recently launched the important Digital Twin program, which aims to realize intelligent decision-making through a technology-driven business operation platform and better meet consumer needs in the future. While further improving the stability and transparency of its global supply chain, Digital Twin will actively contribute to the group's future growth, profitability, and sustainability goals. At the same time, Hugo Boss is increasing its global logistics capacity by around 40%, planning to do so by moving production closer to the Americas and EMEA regions. Beyond that, sustainable development remains at the heart of the "CLAIM 5" strategy and is essential to the group’s corporate responsibility and ongoing business activities. Therefore, Hugo Boss will further strengthen its efforts in this important area. As part of its sustainable development strategy, Hugo Boss will significantly strengthen its circular initiatives, use naturally positive materials, combat microplastics, and continue to promote zero emissions. "Our 'CLAIM 5' strategy provides Hugo Boss with a strong foundation for sustainable, long-term success," said Daniel Grieder. "Thanks to our strong organizational structure, our strong commitment to sustainable With a highly motivated and passionate team within us, we are all even more confident in driving significant improvements in revenue over the next few years." Related articles: Fulang Group/Lanvin Appoints President of the Americas