WWD : Dior and Sacai Unveil Capsule Collection in Series of Pop-ups

Dior and Sacai Unveil Capsule Collection in Series of Pop-ups
The Tokyo pop-up opened last week, and will be followed by locations in Beijing and Taichung.

TOKYO — To launch the collaborative men’s collection designed by Kim Jones and Chitose Abe, creative directors of Dior and Sacai, respectively, the two brands are opening a series of pop-ups around the world, beginning in the latter’s home city. The pop-up in Tokyo’s Omotesando district opened Thursday, giving Japanese customers a chance to purchase pieces from the capsule collection before shoppers in other cities.
Like the collection itself, the pop-up stores fuse elements that are signature to the two brands’ identities. The juxtaposition of gray concrete, light toned wood and green grasses echoes the look of Sacai’s own stores, while herringbone parquet flooring recalls the classic elegance of Dior’s home at 30 Avenue Montaigne in Paris. The Tokyo pop-up features a dedicated facade with large windows framed with lush greenery and complemented by the dual logo designed for the capsule, which sees Sacai’s logo inserted into the “i” of Dior.

The collaboration has been touted as a “conversation” between Abe and Jones, with the pieces combining of the two brands’ aesthetics. At a press preview for the Tokyo pop-up, Abe said the design process, while unconventional due to the pandemic and the inability to travel internationally, was natural and organic.
“We sent the samples back and forth many times, with each of us making changes each time,” she said. “We worked on the collection for over a year.”
Inside the Dior Sacai pop-up in Tokyo’s Omotesando.
©DAICI ANO
Jones said he had wanted to collaborate with Abe for years, and Abe said it was he who proposed the idea to her. Jones called Sacai one of his “favorite brands in the world.”
“To me, Sacai means cool, youthful, elegant, energetic, beautiful clothes,” Jones said via email. “I like the way that Chitose mixes fabrics, proportions and techniques, and the technical element of her work.”
Originally a women’s designer, Abe now creates collections for men and women. And while the Sacai and Dior capsule is technically a men’s offering, she said there has already been a lot of interest from female shoppers as well, and many of the pieces have a unisex sensibility. At the opening of the Tokyo pop-up, the designer herself wore the MA-1 bomber jacket from the collection, which she said was one of her favorite pieces from the collaboration, together with the jewelry that combines chunky, mixed chains with feminine pearls.
Abe has designed collections together with a slew of other brands, ranging from Nike to Birkenstock, but this latest collaboration is arguably her most high-profile yet. Still, she said it won’t affect how she selects potential future partners.
“I make the things I want to wear,” she said. “I never collaborate with a brand just for the sake of collaborating. So if there’s something I want to make or wear, it won’t matter if it’s from a big or small brand. I just make what I like.”
Following the opening of the Omotesando pop-up, the collection hit Dior boutiques in Japan on Saturday. A Beijing pop-up will open on Wednesday, with a worldwide launch scheduled for Thursday, the same day a pop-up will open in Taichung in Taiwan.

Business of Fashion : Report: Activist Investor Third Point Builds Stake in Rich

Report: Activist Investor Third Point Builds Stake in Richemont

Activist hedge fund Third Point has built a stake in Richemont, media reported on Sunday, a development likely to put the luxury goods group’s capital structure and underperforming online businesses in the spotlight.

Third Point, controlled by billionaire investor Daniel Loeb, and US-based fund Artisan Partners, which has a 1.2 percent stake in Richemont, are pressing the owner of jewellery brand Cartier to improve its performance, online news platform Miss Tweed and the Financial Times reported, citing sources familiar with the matter.

Richemont, whose shares underperformed sector leader LVMH last year but have risen more than 50 percent this year, declined to comment. They were up 4.2 percent at 08:25 GMT.

Third Point, which recently built a large stake in Royal Dutch Shell and called for the oil major to split into multiple companies, and Artisan could not immediately be reached.

“This is a very interesting, not to say promising, development. Some external pressure is always healthy,” Vontobel analyst Jean-Philippe Bertschy said.

Richemont has two classes of shares: listed A shares traded on the SIX Swiss Exchange and unlisted B shares held by South African billionaire Johann Rupert’s Compagnie Financiere Rupert that represent 9.1 percent of the equity, but 50 percent of the votes.

Bertschy said this structure was not viable nowadays from a corporate governance point of view.

“In my opinion, Third Point and Artisan Partners are not the only ones to exert pressure in that sense, it’s just the tip of the iceberg,” he said.

Richemont has invested heavily in its loss-making online distributors business, whose underperformance has fuelled speculation about a potential sale of Yoox-Net-a-Porter (YNAP).

Kepler Cheuvreux analyst Jon Cox said he expected YNAP to be sold ultimately.

“But I suspect that the company was going to do this anyway and wants it to be profitable before it happens to realise greater value. I am not sure if Third Point is going to be able to accelerate that process,” Cox said.

Richemont reports results for the six months to Sept. 30 on Friday.

WWD : First Look at Supreme’s Collaboration With Tiffany

First Look at Supreme’s Collaboration With Tiffany
Based on Tiffany designs from the 1960s, the collection includes a pearl necklace, star bracelet and a key-shaped knife.
Supreme has unveiled its new collaboration with Tiffany & Co., and it ranges from a key-shaped pocket knife and heart-shaped stud earrings to a pearl necklace with a silver tag.
The centrepiece of the collaboration is the Return to Tiffany jewelry line, known for its heart-shaped charm or tag. Known by Tiffany connoisseurs and insiders as the RTT line, it sprang from a key ring first introduced in 1969.
In an Instagram post, Supreme said all pieces feature sterling silver, while the Oval Tag Pearl Necklace is made of freshwater pearls.



It noted the pieces drop on Nov. 11, except in Japan, where products hit the market on Nov. 13.
Supreme and Tiffany teased the collaboration over the weekend with a video of a young skater wearing a white T-shirt and the pearl necklace.
Jewelry is a surprising category for Supreme, which frequently teams up with brands from activewear or outdoors categories such as Nike, The North Face, Vans, Champion, Timberland, Lacoste, Levi’s and Stone Island.


Its 2017 collaboration with Louis Vuitton on leather goods and apparel helped ignite a trend for luxury streetwear, and Supreme followed up in 2018 with a range of luggage with Rimowa, another brand owned by French conglomerate LVMH Moët Hennessy Louis Vuitton.

LVMH added Tiffany & Co. to its stable of brands in late 2020, also bringing on board Alexandre Arnault, previously CEO of Rimowa, as its executive vice president, product and communications.
The tie-up with Supreme seems to fall under the tag line of one of the jeweler’s recent campaigns, This is Not Your Mother’s Tiffany, as LVMH shakes up the storied American company with a fleet of buzzy brand ambassadors — including Beyoncé and Jay-Z, Blackpink singer and recent solo artist Rosé, and actresses Tracee Ellis Ross and Anya Taylor-Joy — and high-impact advertising.
It also suggests Supreme is hip to the popularity of men wearing jewelry that had traditionally been perceived as feminine, including pearls.
In recent years, Supreme has also collaborated with prominent fashion brands including Junya Watanabe, Jean Paul Gaultier, Yohji Yamamoto and Emilio Pucci.
Separately, Supreme invited its Instagram followers to register to shop at a forthcoming Berlin location.
According to sources, it is to open on Nov. 11 at 74 Torrestrasse, recently the site of an MCM pop-up and previously a retail store operated by Adidas showcasing its collaborations.

Challenges : Le nucléaire français est prêt à bâtir de nouveaux EPR, selon EDF

Le nucléaire français est prêt à bâtir de nouveaux EPR, selon EDF

PARIS (Reuters) - Le secteur nucléaire français sera en capacité de construire de nouveaux réacteurs de type EPR dans le respect des coûts et des calendriers si la France prend une décision dans ce sens, a estimé lundi EDF lors d'un bilan d'étape du plan d'amélioration des performances de la filière.

Ce bilan du plan "excell" intervient alors qu'Emmanuel Macron a fait savoir mi-octobre qu'il se prononcerait prochainement sur l'opportunité de construire de nouveaux réacteurs nucléaires en France, ce qui pourrait se traduire par le lancement de six nouveaux EPR.

"La filière se transforme et sera prête", a déclaré lors d'une conférence de presse Alain Tranzer, délégué général à la qualité industrielle et aux compétences nucléaires d'EDF, responsable du plan "excell".

"(Il y aura) suffisamment de marges en termes de coûts et de planning sur le premier réacteur pour être certains qu'on ne se raconte pas la bonne aventure, pour être certains que nous saurons tenir ce qui a été dit, et puis (il y aura) une courbe d'apprentissage sur les réacteurs qui suivent", a-t-il ajouté.

Lancé fin 2019, le plan "excell" vise un renforcement de la qualité industrielle et des compétences de la filière nucléaire française, ainsi qu'une amélioration de la gouvernance des grands projets, à la suite d'un rapport d'audit de Jean-Martin Folz analysant les dérapages successifs de coûts et de délais de l'EPR de Flamanville (Manche).

Selon Alain Tranzer, le délai nécessaire pour gérer des aléas a déjà été divisé par quatre sur le chantier de l'EPR britannique d'Hinkley Point entre le troisième trimestre 2020 et le troisième trimestre 2021.

EDF a en outre réduit le nombre de soudures à reprendre sur son parc, à un niveau de 8,8% après trois trimestres en 2021 contre 14% en 2020, avec l'objectif d'atteindre 7% en 2022.

Alain Tranzer a aussi confirmé que le groupe, qui propose un "EPR 2" présenté comme plus simple et moins cher à construire, visait avec ce modèle une réduction de coûts de l'ordre de 30% par rapport à la facture de Flamanville.

La construction de réacteurs nucléaires de nouvelle génération pourrait permettre à la France d'atteindre la neutralité carbone d'ici 2050 à un coût "maîtrisable" a estimé fin octobre RTE, le gestionnaire du réseau de transport d'électricité.

Dans la foulée, la ministre de la Transition écologique, Barbara Pompili, a fait savoir que la décision politique de construire ou non de nouveaux EPR en France serait prise "rapidement".

Le gouvernement avait auparavant renvoyé cette décision après la mise en service de l'EPR de Flamanville 3, soit après un chargement du combustible programmé fin 2022 selon le dernier calendrier fourni par EDF.

Estimé à trois milliards d'euros lors de l'annonce du projet en 2004, l'EPR de Flamanville devait initialement entrer en service en 2012. Selon les dernières estimations en date, annoncées en octobre 2019, le coût de construction de cette "tête de série" est prévu à 12,4 milliards.

Les soudures défectueuses les plus problématiques du projet ont toutes été réparées et le réacteur est aujourd'hui "sur sa trajectoire" pour un chargement du combustible fin 2022, a déclaré Alain Tranzer lundi.

Challenges : Le nucléaire français est prêt à bâtir de nouveaux EPR, selon EDF

Le nucléaire français est prêt à bâtir de nouveaux EPR, selon EDF

PARIS (Reuters) - Le secteur nucléaire français sera en capacité de construire de nouveaux réacteurs de type EPR dans le respect des coûts et des calendriers si la France prend une décision dans ce sens, a estimé lundi EDF lors d'un bilan d'étape du plan d'amélioration des performances de la filière.

Ce bilan du plan "excell" intervient alors qu'Emmanuel Macron a fait savoir mi-octobre qu'il se prononcerait prochainement sur l'opportunité de construire de nouveaux réacteurs nucléaires en France, ce qui pourrait se traduire par le lancement de six nouveaux EPR.

"La filière se transforme et sera prête", a déclaré lors d'une conférence de presse Alain Tranzer, délégué général à la qualité industrielle et aux compétences nucléaires d'EDF, responsable du plan "excell".

"(Il y aura) suffisamment de marges en termes de coûts et de planning sur le premier réacteur pour être certains qu'on ne se raconte pas la bonne aventure, pour être certains que nous saurons tenir ce qui a été dit, et puis (il y aura) une courbe d'apprentissage sur les réacteurs qui suivent", a-t-il ajouté.

Lancé fin 2019, le plan "excell" vise un renforcement de la qualité industrielle et des compétences de la filière nucléaire française, ainsi qu'une amélioration de la gouvernance des grands projets, à la suite d'un rapport d'audit de Jean-Martin Folz analysant les dérapages successifs de coûts et de délais de l'EPR de Flamanville (Manche).

Selon Alain Tranzer, le délai nécessaire pour gérer des aléas a déjà été divisé par quatre sur le chantier de l'EPR britannique d'Hinkley Point entre le troisième trimestre 2020 et le troisième trimestre 2021.

EDF a en outre réduit le nombre de soudures à reprendre sur son parc, à un niveau de 8,8% après trois trimestres en 2021 contre 14% en 2020, avec l'objectif d'atteindre 7% en 2022.

Alain Tranzer a aussi confirmé que le groupe, qui propose un "EPR 2" présenté comme plus simple et moins cher à construire, visait avec ce modèle une réduction de coûts de l'ordre de 30% par rapport à la facture de Flamanville.

La construction de réacteurs nucléaires de nouvelle génération pourrait permettre à la France d'atteindre la neutralité carbone d'ici 2050 à un coût "maîtrisable" a estimé fin octobre RTE, le gestionnaire du réseau de transport d'électricité.

Dans la foulée, la ministre de la Transition écologique, Barbara Pompili, a fait savoir que la décision politique de construire ou non de nouveaux EPR en France serait prise "rapidement".

Le gouvernement avait auparavant renvoyé cette décision après la mise en service de l'EPR de Flamanville 3, soit après un chargement du combustible programmé fin 2022 selon le dernier calendrier fourni par EDF.

Estimé à trois milliards d'euros lors de l'annonce du projet en 2004, l'EPR de Flamanville devait initialement entrer en service en 2012. Selon les dernières estimations en date, annoncées en octobre 2019, le coût de construction de cette "tête de série" est prévu à 12,4 milliards.

Les soudures défectueuses les plus problématiques du projet ont toutes été réparées et le réacteur est aujourd'hui "sur sa trajectoire" pour un chargement du combustible fin 2022, a déclaré Alain Tranzer lundi.

>>> US Gapping down

Gapping down
In reaction to earnings/guidance
:

  • VSAT -1%, THS -0.8% (also exploring strategic alternatives to maximize value)

Other news:

  • JOBS -31.5% (announces update on going-private transaction)
  • CPLG -11.4% (to be acquired through a joint venture between affiliates of Highgate and Cerberus Capital Management, L.P.; to receive $15.65 per share in cash)
  • TOST -4.5% (announces partial early lock-up release)
  • TSLA -4.3% (Elon Musk's Twitter poll says he should sell 10% of his stock; he says he will abide by the results of this poll)
  • ETON -4.1% (receives FDA approval for EPRONTIA)
  • PTON -4% (reports it will freeze hiring, according to CNBC)
  • SGRY -2.1% (commenced an underwritten public offering of 5,000,000 shares of its common stock)
  • LQDA -1.7% (receives tentative approval for YUTREPIA from FDA)
  • VRRM -1.4% (files for 19,999,967 share common stock offering; also files for 13,207,821 share common stock offering by selling shareholder)

Analyst comments:

  • BLUE -2.1% (downgraded to Underweight from Equal-Weight at Morgan Stanley)
  • APTV -1.4% (downgraded to Neutral from Overweight at Piper Sandler)
  • DNUT -1.4% (downgraded to Hold from Buy at Truist)

>>> US Gapping up

Gapping up
In reaction to earnings/guidance
:

  • AXSM +13.1%, TTD +10.5%, COTY +6.7%, HLIO +6.1%, VTRS +5.4%, RETA +5%, PRVA +3.9%, TSEM +2.8%, VAC +2.6%, EDIT +2.4%, USFD +1.3%, BKI +1%, .

Other news:

  • AUTL +27.3% (Blackstone (BX) to invest up to $250 mln in Autolus Therapeutics to develop obe-cel in adult Acute Lymphoblastic Leukemia)
  • RDHL +7.5% (RedHill Biopharma and South Korea's Kukbo Co. announce a strategic investment of up to $10 million in RedHill)
  • BBIG +6.5% (filed Form 10 registration statement in connection with the planned spin-off of its subsidiary Cryptyde)
  • ENDP +4.2% (signs agreement with Premier to supply VASOSTRICT)
  • ELMS +4% (intention to move ahead with plans to launch the Urban Utility vehicle after the ELMS Board approved production)
  • MTL +3.3% (reports supplying ~22,000 tonnes of rails and other steel rolls for construction of Moscow Metro's Bolshaya Koltsevaya Line)
  • CMMB +3.3% (announced that Donald R. Marvin has been named Chief Financial Officer, Executive Vice President and Chief Operating Officer)
  • EXP +2% (files mixed securities shelf offering )
  • REGN +1.9% (reports new Phase 3 data for REGEN-COV showing long-term protection against COVID-19)
  • HVT +1.8% (authorizes special cash dividend, also approves new $25 mln share repurchase authorization)
  • KALV +1.8% (presents data demonstrating KVD900 achieves rapid exposure and improves outcomes as oral on-demand treatment of HAE)
  • CSIQ +1.6% (awarded 52 MWp for the solar PV project Caracoli in the recent public auction by Colombia's Ministry of Energy)
  • ASTR +1.5% (files application with FCC requesting authority to launch and operate satellite system)
  • WRB +1.3% (declares special cash dividend of $1.00/share)
  • GOL +1.1% (reports October traffic results)
  • TEVA +1% (presents AJOVY data)

Analyst comments:

  • ACEL +3.6% (upgraded to Buy from Hold at Deutsche Bank)
  • BTRS +3.1% (upgraded to Overweight from Neutral at JP Morgan)
  • ACMR +2.3% (upgraded to Buy from Hold at The Benchmark Company)
  • APPN +2.2% (upgraded to Buy from Hold at Truist)
  • AVB +1.3% (upgraded to Overweight from Equal-Weight at Morgan Stanley)

>>> US Early premarket gappers

Early premarket gappers

  • Gapping up:
    • AUTL +25.2%, COTY +9.3%, LQDA +5.1%, HVT +4.4%, RETA +4.4%, ETON +4.1%, MTL +3.9%, ASTR +3.2%, VAC +2.6%, KALV +2.4%, PRVA +1.9%, GOL +1.7%, DSAC +1.5%, WRB +1.3%, TEVA +0.9%, QGEN +0.8%, EW +0.8%, FE +0.6%
  • Gapping down:
    • CPLG -10.5%, TSLA -5.2%, TOST -5.1%, PTON -1.7%, VRRM -1.4%, SEAT -0.7%, BEAM -0.6%, EXP -0.5%

>>> Europe : Brokers Upgrades & Downgrades - 8th of November 2021 V2(+)

>>> Up
* Acerinox Raised to Buy at AlphaValue/Baader
* Alstria Office Raised to Hold at Bankhaus Metzler (+)
* Amadeus Raised to Outperform at Oddo BHF (+)
* Basic-Fit PT Raised to 55 euros from 44 euros at Morgan Stanley
* Capital & Regional Raised to Hold at Berenberg; PT 70 pence
* Instabank Raised to Buy at Pareto Securities; PT 2.50 kroner
* Lufthansa Raised to Outperform at Bernstein; PT 8.55 euros
* Telia Raised to Hold at HSBC; PT 34 kronor
* Tesla Raised to Buy at Northeast Securities; PT $1,380
* Tesla PT Raised to $1,400 from $950 at Jefferies (+)
* TI Fluid Raised to Overweight at JPMorgan; PT 370 pence
* Varta Raised to Hold at M.M. Warburg; PT 115 euros (+)

>>> Down
* Aker BP Cut to Hold at Arctic Securities; PT 360 kroner (+)
* Canada Goose Cut to Neutral at CIBC; PT C$67
* Clarkson Cut to Neutral at JPMorgan; PT 4,302 pence
* H&M Cut to Sell at Goldman; PT 160 kronor
* Helios Towers Cut to Equal-Weight at Barclays; PT 160 pence
* IAG Cut to Market Perform at Bernstein; PT 180 pence
* Lundin Energy Cut to Hold at Arctic Securities; PT 370 kronor (+)
* Ryanair Cut to Market Perform at Bernstein; PT 18.40 euros
* Swisscom Cut to Hold at HSBC; PT 565 Swiss francs
* Telecom Italia Cut to Reduce at HSBC; PT 28 euro cents
* VW Cut to Underperform at Jefferies; PT 170 euros

>>> Initiation
* Afyren SAS Rated New Buy at Berenberg; PT 12 euros
* Essentra Rated New Outperform at Davy
* Everfuel Rated New Buy at Nordea; PT 85 kroner (+)
* Greencoat Renewables Rated New Neutral at Oddo BHF
* ITM Power Rated New Neutral at Redburn
* Kalera Rated New Buy at DNB Markets; PT 31 kroner (+)
* Nel Rated New Buy at Redburn
* Petershill Partners PLC Rated New Overweight at JPMorgan

>>> Call
* Goldman Sachs Sees 4% Upside for S&P 500 by End 2022 After Rally (+)
* Henkel’s Margin Guidance Points to Pressure on 2H, Citi Says (+)
* Attendo Shares Are Worth Buying After Meltdown: Dagens Industri
* Capital & Regional Raised at Berenberg as Balance Sheet Stronger
* Basic-Fit Gets Street-High PT on Expansion Goal: Morgan Stanley
* Equans Purchase Is ‘Big Leap’ Forward for Bouygues: Jefferies (+)
* Financials, Energy Lead Earnings Beats in Europe: Morgan Stanley
* H&M Cut to Sell at Goldman on Cost Inflation Hit to Gross Margin (+)
* JPMorgan Says Overweight U.K. Stocks for First Time Since 2016 (+)