- EasyJet (EJT1 TH) +1.8%
- Orange (FTE TH) +1.7%
- Rio Tinto (RIO1 TH) +1.4%
- Maersk (DP4B TH) +1.2%
- Glencore (8GC TH) +1%
- Equinor (DNQ TH) +0.8%
- GSK (GS7 TH) +0.7%
- Infineon (IFX TH) -1.1%
- Adidas (ADS TH) -1.1%
- Verbund (OEWA TH) -1.2%
- Adyen (1N8 TH) -1.3%
- AB InBev (1NBA TH) -1.4%
- ASML (ASME TH) -1.4%
- BE Semiconductor (BSI TH) -1.4%
- ASMI (AVS TH) -1.6%
- Prosus (1TY TH) -1.8%
- Delivery Hero (DHER TH) -2.6%
DAX:
- Siemens (SIE TH) -1%
- Delivery Hero (DHER TH) -1.8%
MDAX:
- TeamViewer (TMV TH) -1.1%
- Aroundtown (AT1 TH) -1.3%
- Grand City Properties (GYC TH) -2.5%
SDAX:
- Schaeffler (SHA TH) -1.1%
- PVA TePla (TPE TH) -1.1%
- Nordex (NDX1 TH) -1.4%
- Ceconomy (CEC TH) -1.8%
Stocks in Asia were mixed Tuesday in choppy trading as investors assessed the impact of a jump in Treasury yields on the outlook for earnings and the economy. The yen sank to a 20-year low. Equities in Japan rose as the currency’s plunge on a widening interest-rate gap with the US provided a tailwind for exporters. Australia’s three-year yields soared and stocks extended a decline on a bigger-than-expected half-point hike by the central bank. China technology stocks fluctuated as traders sought clarity on the government’s regulatory stance. Hong Kong was steady and China rose. US and European futures dropped. Asian currencies tumbled and the dollar gained as investors fled risk assets, including Bitcoin, which fell back below the $30,000 mark. Treasuries were mostly steady after losses that sent five- and 10-year yields over 3% for the first time since mid-May ahead of a slew of new debt supply before crucial inflation data at the end of the week. The 10-year Treasury yield jumped more than 10 basis points as yields across the curve advanced at least seven basis points Monday. Investors are reluctant to take on risk and volatility remains elevated. Equities are struggling to mount a sustainable rebound amid fears rising borrowing costs will hurt growth and corporate earnings. The US jobs report on Friday validated the Federal Reserve’s aggressive monetary tightening path, while surging yields are shaping up as a headwind for sentiment. The European Central Bank is set to announcean end to bond purchases this week and formally begin the countdown to an increase in borrowing costs in July, joining global peers tightening monetary policy in the face of hot inflation. US After Hours Quiet after hours; GTLB +9.4%, HQY +3.2%, COUP +0.6% higher on earnings
Nikkei +0.49% Hang Seng -0.12% CSI +0.65% Shanghai +0.48% Shenzen +0.10%
Eur$ 1.0683 CNH 6.6666 CNY 6.6645 JPY 132.85 GBP 1.2496 CHF 0.9716 RUB 61.7365 TRY 16.6381 WTI$ 119.33 +0.70% Gold 1,842.90 +0.08% BTC 29,500 -6.2% ETH 1,752 -5.8%
S&P -0.72% Nasdaq -0.95% EuroStoxx -0.83% FTSE -0.48% Dax -0.81% SMI +0.23%
Macro :
- Bitcoin Tumbles as Much as 7.1% to Drop Back Below $30,000
- Boris Johnson Wins Party Confidence Vote in His Leadership
Keep an eye on :
Keep an eye on :
- BAVA DC : Bavarian Nordic Enters 5-Year Vaccine Contract With Canada
- BAYN GY : Monsanto Ordered to Pay $21.4 Million Over PCB in School
- CCL LN : *CARNIVAL SAYS ENTIRE SEABOURN FLEET BACK IN SERVICE
- CCL LN : *CARNIVAL SAYS ENTIRE SEABOURN FLEET BACK IN SERVICE
- CSGN SW : Credit Suisse Real Estate Fund Issue of CHF100-150M Under Review
- DBK GY : Deutsche Bank Relocates Specialists From Russia to Germany: FT
- HSBA LN : Klarna $10-15 Billion Hit Shows Consumer, Inflation, Fintech Woe
- BAER SW : Julius Baer to Set Up Advisory Office in Qatar
- KSS US : Kohl’s in Exclusive Talks Over Franchise Group’s $8 Billion Bid
- FB US : Meta Sued Over Instagram Addiction of Girl With Eating Disorder
- MFEB IM : MFE to Boost Cash Portion of MES Offer to EU2.16 Per Share
- MFEB IM : MFE to Boost Cash Portion of MES Offer to EU2.16 Per Share
- MUX GY : Mutares Weighs New Senior Secured Bond of Up to EU175m
- PHTM LN : Photo-Me Says Performance is Above Expectations
- SAS SS : Sweden Should Not Contribute More Capital to SAS, Minister Says
- STLA IM : Tofas Says Stellantis to Produce New Fiat Doblo In Spain
- TE FP : Technip Energies Wins Study Contract for European Lithium Plant
>>> Up
* Anglo American Raised to Buy at Jefferies; PT 4,500 pence
* BHP ADRs Raised to Buy at Jefferies; PT $82
* British Land Raised to Overweight at Barclays; PT 580 pence
* Liberty Global Raised to Buy at Berenberg; PT $30
* Novo Nordisk Raised to Overweight at JPMorgan; PT 925 kroner
* OTP Bank Raised to Buy at Erste Group; PT 12,000 forint
* Pennon Raised to Buy at Citi; PT 1,160 pence
* Remy Cointreau Raised to Hold at SocGen; PT 185 euros
* Remy Cointreau Raised to Hold at SocGen; PT 185 euros
* Rio Tinto Raised to Add at AlphaValue/Baader
* Rio Tinto ADRs Raised to Buy at Jefferies; PT $93
* Vale ADRs Raised to Buy at Jefferies; PT $24
>>> Down
>>> Down
* Capri Holdings PT Cut to $91 from $107 at UBS
* Dassault Systemes Cut to Underperform at Jefferies; PT 33 euros
* Flutter Cut to Reduce at Numis; PT 8,360 pence
* Flutter Cut to Reduce at Numis; PT 8,360 pence
* National Grid Cut to Sell at Citi; PT 998 pence
* PVH PT Cut to $132 from $156 at UBS
* PVH PT Cut to $132 from $156 at UBS
* Victoria's Secret PT Cut to $49 from $59 at UBS
>>> Initiation
* Digital Bros Rated New Buy at Stifel; PT 40.10 euros
>>> Call
>>> Initiation
* Digital Bros Rated New Buy at Stifel; PT 40.10 euros
>>> Call
* Dassault Systemes Cut at Jefferies on Costs From Cloud Shift
* European REIT Re-Positioning M&A Curbed by Funding Obstacles
* Liberty Global Raised at Berenberg on Growth Trends, Synergies
* US Is Most Attractive Equity Market, Citi Quant Strategists Say
* US Is Most Attractive Equity Market, Citi Quant Strategists Say
What Adidas X Gucci Means for Gucci — and Adidas
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This week, everyone will be talking about the long-anticipated release of Adidas X Gucci merchandise, the Global Fashion Summit in Copenhagen and US inflation data.
Items from the collaboration between Gucci and Adidas go on sale on June 7. (Gucci)
A Much-Hyped Collaboration
- Items from Gucci’s collaboration with Adidas, first announced in February, go on sale June 7
- For Adidas, the collection comes on the heels of another luxury partnership with Balenciaga
- Gucci has reported uneven growth in recent quarters, even as rivals have found success with timeless, ultra-expensive merchandise
Gucci and Adidas have had months to build hype for the collection that goes on sale this week, from the first glimpse on the runway in Milan in February to the full lookbook revealed last month to an odd episode in May where Chinese social media users were seemingly outraged by the existence of a non-waterproof umbrella with a listed price of 11,100 yuan ($1,600). The umbrella will almost certainly sell briskly nonetheless, along with Gucci’s $850 spin on the Gazelle sneakers and other items that mix and remix the two brands’ logos.
Adidas needs luxury collaborations like this one, and a recent team-up with Balenciaga, to close the hype gap with Nike, which has proven far more adept at generating brand heat over the last couple of years. All that buzz has real-world consequences; Nike’s stock is up about 15 percent since June 2020, Adidas’ is down 30 percent.
For Gucci, an attention-grabbing collaboration featuring products with mass appeal at luxury prices is par for the course. The question is whether Adidas X Gucci represents the latest chapter in that particular playbook or the start of a new one. Gucci remains one of the most talked-about luxury brands (its Instagram post announcing the Adidas partnership has over 1.2 million likes). But its sales haven’t grown at the same pace as rivals that have better balanced conversation-driving moments with clothes and accessories that luxury consumers view as timeless investments.
The Bottom Line: Kering is holding an investor day this week, where it’s expected to delve further into its strategy for Gucci, as well as Saint Laurent, which has found enormous success with a less hype-driven approach to luxury.
Louis Vuitton Will Take Your Order in Saint-Tropez This Summer
Mory Sacko at Louis Vuitton seats 40 and boasts a vegetable-heavy menu.
A rendering of the Mory Sacko at Louis Vuitton restaurant.
BON APPETIT: Louis Vuitton, long synonymous with its famous monogram, may soon be thought of for mouthwatering meals, too.
Venturing further into the hospitality business, the French luxury giant is opening a summer restaurant in Saint-Tropez at the White 1921 Hotel on the Place des Lices, WWD has learned.
The 40-seat outdoor restaurant, slated to open June 17 for the summer, is not attached to a Louis Vuitton store, although there is one close by.
The eatery is called Mory Sacko at Louis Vuitton, named after the up-and-coming chef at the MoSuke restaurant in Paris, which boasts one Michelin star.
According to Vuitton, the vegetable-heavy menu will feature “globe-trotting recipes where African and Japanese influences meet the know-how of French cuisine.” For lunch, Sacko plans to offer gourmet versions of the Japanese lunch box known as “ekiben,” here featuring glass containers on a bespoke wooden tray.
Sacko also contributed to the decor, which boasts ship-deck wooden flooring, rattan chairs and hanging lamps, plus a verdant wall studded with sculpted monogram emblems.
The French luxury giant opened its first Vuitton café and restaurant in 2020 at its flagship boutique in Osaka, Japan, and followed up last year with an LV Café and chocolate shop at its new seven-story Ginza Namiki flagship in Tokyo.
In addition, last month the brand debuted a pop-up restaurant at its flagship in Seoul’s Gangnam district, that Louis Vuitton Café will be overseen by Korean-born French chef Pierre Sang Boyer, who runs several restaurants in Paris.
Michael Burke, chairman and chief executive officer of Vuitton, has hinted that eateries and even hotels could be a future expansion avenue for the megabrand.
Louis Vuitton Marks 10 Years of Objets Nomades
Louis Vuitton's Objets Nomades furniture and design collection celebrates 10th anniversary at Milan Design Week.
The Belt Lounge Chair and Side Stool designed by Atelier Oï for Louis Vuitton's Objets Nomades collection.
MILAN — Louis Vuitton’s Objets Nomades are marking a milestone this year and the French luxury brand is celebrating accordingly during Milan Design Week
Vuitton is taking over Garage Traversi, a recently revamped former parking lot at the corner of Via Bagutta and Piazza San Babila in the Golden Triangle shopping district to celebrate the collection’s 10th anniversary.
Two floors of the 60,000-square-foot space, an original example of Rationalist architecture designed by Giuseppe De Min in 1939, will be bedecked in colorful isles to showcase the latest additions to the ever-expanding lineup of furniture and design objects.
Over the past decade 14 designers have lent their design bent to over 60 products exalting the house’s know-how and heritage rooted in travel-inclined products. The who’s who of international design who have teamed with Vuitton everyone from Patricia Urquiola, India Mahdavi and Atelier Biagetti to Zanellato/ Bortotto, Andrew Kudless, Tokujin Yoshioka, Frank Chou, Nendo, Damien Langlois- Meurinne, Barber & Osgerby, and Marcel Wanders Studio.
Milan’s Garage Traversi was taken over by Louis Vuitton for the 10th anniversary of its Objets Nomades collection.
STEPHANE MURATET/COURTESY OF LOUIS VUITTON
Acknowledging the anniversary, the brand is unveiling five new items during the week-long presentation reprising its collaboration with Atelier Oï, the Campana Brothers and London-based Raw Edge offering new iterations of now-signature pieces.
Atleri Oï’s Aurel Aebi, Armand Louis and Patrick Reymond, who joined the roster of Louis Vuitton collaborators for the first Objets Nomades collection, took a cue from their Belt Chair featuring a metal structure covered in leather strips held in place by belt buckles to develop a lounge chair, a bar stool and side stool, adding wooden details to the former two.
The cloud-shaped Bomboca sofa by Fernando and Humberto Campana — its name nodding to Brazil’s tradition of serving confectionery at weddings and children’s parties — is being remastered in a four-seat version with 11 upholstered cushions filling the leather-covered shell.
Israeli designers Shay Alkalay and Yael Mer of London-based Raw Edges used their penchant for childlike wonders typically embedded in their colorful designs, rich in different patterns, for Cosmic Table, available in indoor and outdoor versions. Boasting a carbon-fiber structure covered in brightly colored, enameled or metallic leather depending on the version, the table is complemented by a glass top.
The Cosmic Table outdoor version designed by London-based Raw Edges for Louis Vuitton’s Objets Nomades collection.
COURTESY OF LOUIS VUITTON
A range of design objects never displayed in Europe before will also punctuate the exhibit. They include Frank Chou’s flowing Signature sofa and armchair; the Campana Brothers’ brightly colored Aguacate sculptural screen and playful Merengue seat; Marcel Wanders Studio’s Petal chair, and Louis Vuitton Studio’s Murano-glass totem Lumineux.
Additionally, Louis Vuitton is taking over a flower kiosk on Piazza San Babila which will be decorated with the leather Origami Flowers created by Atelier Oï and a specially branded newsstand in the same square offering a selection of books that are part of the luxury brand’s in-house publisher’s three travel-focused series “Travel Book,” “Fashion Eye” and “City Guide.”
To further mark its link with Milan, where it has been presenting its Objets Nomades collection since 2015, in addition to Design Miami where they were first introduced in 2012 , the project’s fifth installment will bring the Nova House to the city’s Piazza Duomo.
Designed in 1972 by architects Michel Hudrisier and M. Roma for Studio Rochel, the Nova House is a retrofuturistic ovoid pod with a steel frame covered in 180 strips made of aluminum alloy, which houses two bedrooms, a living room and a kitchen, as well as bathroom fitting into the its 484 square-foot surface.
Louis Vuitton has previously displayed Charlotte Perriand’s La Maison au bord de l’eau in 2015; Matti Suuronen’s Futuro House in 2017; George Candilis’s Hexacube in 2018, and Shigeru Ban’s Paper Temporary Studio in 2019 installing the houses in the courtyards of Palazzo Bocconi and Palazzo Serbelloni where it used to hold its previous Objets Nomades displays.