WWD : Chanel Unveils Jewelry Watches Inspired by Pincushions and Couture

Chanel Unveils Jewelry Watches Inspired by Pincushions and Couture
The five limited-edition Mademoiselle Privé Pique-Aiguilles designs feature dials inspired by a house signature and couture crafts.
For seamstresses, especially those working in couture, the essential tools are a pair of scissors and a pincushion, always at hand.
Since it often sits on the wrist, the latter became the basis for Chanel’s latest high-end jewelry watch designs launching on Friday, named “Mademoiselle Privé Pique-Aiguilles” after the object’s name in French.
Arnaud Chastaingt, director of Chanel’s watchmaking creation studio, “liked the image of this functional piece of jewelry that adorns the wrists of seamstresses,” he said in a statement announcing the launch of these new timepieces.

Expressing his fascination for “the design of objects whose architecture is the product of a practical need,” he added that he loved the “random design of needles” stuck into a pincushion and the way pinheads created a decorative effect that evolved as seamstresses work.

Five Mademoiselle Privé Pique-Aiguilles have been created, each in a limited run of 20 pieces, retailing between 175,000 and 250,000 euros. Shared by all is the domed watch glass as well as the black matte grosgrain bracelet and gem-set buckle.
The design of these high-end timepieces is meant to emulate the professional version, often a voluminous velvet dome sitting atop a metal cuff, worn by seamstresses.
A lacework of camellias, a little black jacket at the pattern stage, Chanel’s famous handbags, jewels on black tweed and sequins inspired this chapter of the Mademoiselle Privé collection.


Clocking in at 55 mm in diameter, the Pique-Aiguilles watches are significantly larger than the 34 to 40mm range preferred for women’s watches.
“In terms of style, the pincushion commands authority on the wrist, with presence and impact. Its outsize format does not detract from its comfort in any way, and it adapts to all wrists,” he continued.
The larger size also gave him plenty of space for the couture-inspired tableaux he imagined for the Mademoiselle Privé Pique-Aiguilles chapter.
The name Chanel no doubt brings to mind long necklaces, recognizable chains and Byzantine brooches layered over tweed, and that’s what is encapsulated in the Pearls motif version.
A thimble, scissors and tape measure take pride of place on the “Tweed Motif” model, where the elements of a tweed jacket are laid out, right down to the label and chain that finish it.
Snow-set diamonds dotted on a black-coated white gold dial nod to sequins embroidered on black fabric in the “Embroidery Motif” watch.
On the Lace version, hand engraving, “Grand Feu” enameling and decal techniques have been used to replicate an embellished camellia lace design. A scattering of minute gold beads and diamonds finishes off the effect of this dial produced by Les Cadraniers de Genève, a subsidiary of the watchmaker F.P. Journe in whom Chanel invested in 2019.
Black mother-of-pearl, assembled using marquetry techniques, was used to express the instantly recognizable surface of the house’s flagship handbags for the “Quilted Motif” design.
Previous chapters in the Mademoiselle Privé high-end watch collection have included the “Bouton” cuff design nodding to the bejeweled buttons of the house as well as the “Coromandel” and “Aubazine,” which explored various architectural motifs from places where Gabrielle Chanel lived.

>>> US Gapping down

Gapping down

In reaction to earnings/guidance:

  • JWN -7.3% (FY22 guidance), CNXC -4.9%, ERIC -4.2%, SWIM -3.1% (FY22 guidance), FFIN -1.6%

Other news:

  • BBBY -7.9% (receives notice from NASDAQ regarding delayed quarterly report)
  • AUTL -5.3% (announces two changes to the company's Board of Directors)
  • KSS -4% (entered into a $1.5 bln credit agreement)
  • TMUS -1.9% (continuing investigation on data breach)
  • LLY -1.8% (receives Complete Response Letter for accelerated approval of Donanemab)
  • OPNT -1.5% (announces FDA acceptance of NDA for OPNT003)
  • AKTS -1.4% (prices offering of 10909091 shares of common stock at $2.75 per share)
  • LXU -1.2% (provides update on its Cherokee AL facility)
  • SPT -1.1% (acquires Respustate)

Analyst comments:

  • DOMO -2.9% (downgraded to Equal-Weight from Overweight at Morgan Stanley)
  • BIGC -2.5% (downgraded to Sector Weight from Overweight at KeyBanc Capital Markets)
  • CRM -1.3% (downgraded to Market Perform from Outperform at Cowen)
  • PINS -1.2% (downgraded to Neutral from Buy at MKM Partners)

>>> US Gapping up


Gapping up
In reaction to earnings/guidance
:

  • ATRO +7.5% (Q4 guidance), NFLX +6.4%, PPG +2.6%, RF +1.9%, HBAN +1.6%, SLB +1.5%, SIVB +1.2%

Other news:

  • W +6.1% (update to cost efficiency plan - to reduce workforce by ~10%; expected to accelerate the timeline for adj EBITDA breakeven to earlier in 2023)
  • CMPX +5.3% (announces Phase 2 data of CTX-009 to be presented)
  • SGML +4.4% (files NI 43-101 Technical Report for production expansion supporting the previously announced 60% increase in mineral reserves and $ 15.3 billion NPV)
  • GOOG +3.6% (decided to reduce its workforce by approximately 12000 roles)
  • EXEL +3.3% (provides update on patent litigation with MSN Laboratories)
  • EOSE +2.9% (investors pour $13.75 mln into convertible senior notes)
  • MGNI +2.3% (reducing workforce by 6%)
  • FTK +2.2% (appoints interim CEO and Chairman upon current CEO and Chairman's departure)
  • ABCL +1.4% (announces that the U.S. Patent Trial and Appeal Board upholds microfluidic cell culture patent)
  • COST +0.9% (reauthorizes repurchase program)

Analyst comments:

  • PVH +1.3% (upgraded to Overweight from Equal Weight at Barclays)
  • QSR +1.1% (upgraded to Outperform from Market Perform at BMO Capital Markets)

>>> US Early premarket gappers

Early premarket gappers

  • Gapping up:
    • ATRO +6.4%, NFLX +5.8%, PPG +5.1%, SGML +4.5%, ABCL +3.4%, EXEL +3.3%, EOSE +2.9%, GOOG +2.7%, MGNI +2.3%, FTK +2.2%, BGNE +2%, CMPX +1.3%, ARCC +1.3%, COST +1%, ABB +0.9%, SAVE +0.8%, TXN +0.6%
  • Gapping down:
    • BBBY -8.4%, JWN -5.7%, CNXC -4.9%, ERIC -4.6%, TWO -3.7%, SWIM -3.1%, KSS -2.9%, LLY -1.8%, AKTS -1.7%, FFIN -1.6%, TMUS -1.3%, SPT -1.1%

FT : Hedge fund Oasis takes 5% stake in The Restaurant Group

Hedge fund Oasis takes 5% stake in The Restaurant Group
Hong Kong-based fund could shake up owner of Wagamama and Frankie & Benny’s chains

Hong Kong-based activist hedge fund Oasis Management has taken a 5 per cent stake in Wagamama-owner The Restaurant Group in a move that could lead to an overhaul of the casual dining and pub operator.

Oasis came to prominence in the UK after it bought up nearly a fifth of the shares of British manufacturer Premier Foods and led an activist rebellion to remove the Mr Kipling-cakemaker’s longtime chief executive.

Oasis bought its stake in The Restaurant Group, which owns 423 venues across the UK including the Chiquito and Frankie & Benny’s chains, in late November last year, according to a company filing.

The Restaurant Group has bounced back from the lows of the coronavirus pandemic, when it was forced to shut 125 of its worst-performing venues. The group reported sales in the six months to July last year of £423mn, almost double the group’s half-year sales in 2021.

But, as with much of the hospitality industry, the group has been weighed down by soaring energy, labour and food and drink costs, alongside exposure to rising interest rates.

Investors also fear that the cost of living crisis could precipitate a downturn in the hospitality sector. The London-listed group’s share price has fallen about 65 per cent over the past year, to 35p. In December, The Restaurant Group’s lenders agreed a £340mn funding package for the business.

Chief executive, who previously led HBOS through its near-collapse during the 2008 financial crisis, said the company was making “good progress” and “decisive management actions”, including hedging energy costs, had limited cost pressures.

The Restaurant Group declined to comment. A representative for Oasis did not immediately respond to a request for comment.

Founded in 2002 by Seth Fischer, a former portfolio manager in Asia for JPMorgan Chase’s Highbridge Capital, Oasis makes the majority of its investments in Asia.

In 2017, the Hong Kong-based hedge fund was invited on to the board of Premier Foods after becoming its second-biggest investor.

At the annual meeting the following year, Oasis alongside US hedge fund Paulson & Co, pushed for the group’s CEO Gavin Darby to be removed after five years in the job, accusing him of “persistent value destruction”.

Despite fending off the activists, Darby stepped down shortly afterwards. In July last year, Daniel Wosner of Oasis left the Premier board after the fund reduced its position.

FT : What Shakira gets wrong about men and their cars

What Shakira gets wrong about men and their cars
The star’s diss track about her ex, Gerard Piqué, proves our stereotypes about motors need updating

The lips don’t lie. The pop-star Shakira is seriously seething at the ex-partner who ditched her for a younger woman and is venting her fury in a “diss track” aimed at her faithless footballer. The self-proclaimed she-wolf has delighted her fans, everyone who has ever been at the wrong end of a bad break-up and those labouring under the misapprehension that revenge songs are a way to reclaim power.

Her ex-boyfriend, the former Barcelona defender Gerard Piqué, is mocked as dim, shallow and unappreciative of the person he has forsaken. I’m not best placed to figure out where the fault lies for the split, though one’s prejudice is always against the bloke who allegedly ditched the 45-year-old mother of his children for a 23-year-old student.

Personally, I’ve always thought happiness is a better revenge than parading your pain, but the song has done amazingly well, racking up more than 100 million views on YouTube. And yet I worry about some of the lyrics, in particular the couplet where she dismisses Piqué and his new flame with the words, “You traded a Ferrari for a Twingo/You traded a Rolex for a Casio”. Piqué has since responded by mockingly posing with both.

The premise is that he lacks the class to carry off luxury goods, just as he lacks the confidence to love a strong woman. This, obviously, is where the track goes wrong. If Piqué were indeed a Twingo and Casio guy, which as a top-flight footballer seems doubtful, then this would be a clear point in his favour, the sign of a well-grounded man whose head is not turned by shallow consumerism.

While the man who dumps his partner for one half her age is obviously suspect, the man who has the money for fast cars and flash watches but who chooses the other options is clearly a keeper. More sensible, practical and, dare I say it, probably more faithful.

Why pick an expensive, ostentatious, clunky watch over a lightweight functional option that doesn’t get you mugged? As for the Ferrari, again, Shakira goes wrong. It may seem fun in your twenties, but the ideal man is driving a Škoda. The Twingo is a bit dinky, but compared with a Ferrari, it is cute, kinder to the environment, better suited to city living and far easier to park. One other advantage of the Twingo is that you do not have to worry about scraping your undercarriage every time you turn into a driveway.

And speaking of undercarriages and the penchant for fast cars, I was naturally delighted to read this week about a new survey suggesting that men with flash sports cars are less well fitted-out in the trouser department.

For motorists like me whose list of vehicles runs from Mini Metros to small Škodas, surveys like this validate your life choices, pander to your prejudices and offer the dream of a world in which sex-hungry she-wolves walk up to you in a bar and utter those immortal words, “I need a man who drives a Twingo.”

We family car-owners cheered on Greta Thunberg’s “small dick energy” jibe at professional misogynist Andrew Tate after he boasted to her about his range of sports cars.

So I’ve always hoped this sort of story is true but have never really wanted to do the research myself. The survey, it has to be said, was a curious affair, relying not on raw data but on a set of trick questions designed to expose consumer attitudes and personal insecurities. Apparently, the more insecure the participant was made to feel, the more instantly he lurched towards the Ferrari. There doesn’t appear, sadly, to be equivalent research into the drivers of saloons and hatchbacks. It may be that they are every bit as deficient but lack the funds to compensate for it.

But let’s not carp. It’s good to see our academics engaged in this sort of cutting-edge analysis. In China, teams are wasting their time on quantum computing, but London has cornered the market on research in overcompensating males. Meanwhile, Shakira needs to reframe her lyrics and forget about the Ferraris. The data show that real men drive Twingos.

>>> Men Live Longer (Happier?) Lives Taking 'Little Blue Pill'; New Study Finds

Men Live Longer (Happier?) Lives Taking 'Little Blue Pill'; New Study Finds

The second study in two years shows Viagra might reduce the risk of heart disease in men.
Researchers from the University of Southern California (USC) found that men who took the little blue pill experienced a 39% reduction in heart disease.
USC researchers gathered data from 70,000 men with an average age of 52 who were diagnosed with erectile dysfunction within the last decade. They believe Viagra increases blood flow and oxygen into the heart and throughout the body.
Viagra users also were 17% less likely to suffer heart failure and had a 22% reduction in developing unstable angina. All of those conditions are fatal if untreated. Men who used the drug achieved longer life and decreased the risk of early death by 25%.
"Viagra was associated with lower incidence of [heart complications], cardiovascular death, and overall mortality risk compared to non-exposure," the researchers wrote.
The last study, published in the American College journal of Cardiology and titled "Association of Phosphodiesterase-5 Inhibitors Versus Alprostadil With Survival in Men With Coronary Artery Disease," showed older men with cardiovascular disease who took the erectile dysfunction pill lived a healthier life.
According to the American Heart Association, erectile dysfunction could be an early warning sign of heart disease in otherwise healthy men.