>>> What to look at today - 27th of October 2021

Asian stocks fell Wednesday as traders evaluated more evidence of intensifying global price pressures, a flareup in U.S.-China tension and the corporate earnings outlook.
Equities fell in Japan, and Chinese technology shares slid on concerns about more scrutiny from Washington after the U.S. banned China Telecom’s American business. S&P 500 and Nasdaq 100 futures were steady amid a mixed response to big-tech earnings released later in the U.S. session. European contracts declined.
The debt crisis in China’s property sector continues to hang over the market: authorities told billionaire Hui Ka Yan to use his personal wealth to alleviate China Evergrande Group’s woes. Meanwhile, a top Chinese regulator called on companies to make “active preparations” to meet payments on offshore bonds.
In Australia, bond yields and the currency climbed after core inflation beat estimates. The three-year yield topped 1% for the first time since 2019. Treasury yields advanced and the yield curve flattened. The dollar was steady.
Meanwhile, the energy crunch continues to ripple across the global economy. Coal stockpiles at U.S. power plants plunged to the lowest in at least 24 years. WTI crude oil slid under $84 a barrel.
Gold retreated back below $1,800 an ounce and Bitcoin slipped to around $61,200. On the virus front, a Food and Drug Administration panel gave its backing to the Pfizer Inc. and BioNTech SE vaccine for young children.
US After Hours ENPH +12.2%, JNPR +5%, FFIV +4%, TWTR +3.1%, MSFT +1.6% higher on earnings; HOOD -7.1%, TXN -3.5%, V -3.4% lower on earnings; CRTX -72.7% and ANGN -56.8% fall on clinical data

Nikkei -0.19% Hang Seng -1.63% CSI -1.25% Shanghai -0.95% Shenzen -1.14%

Eur$ 1.1596 CNH 6.3833 CNY 6.3861 JPY 114.06 GBP 1.3763 CHF 0.9196 RUB 69.4723 TRY 9.5316 WTI$ 83.85 -0.95% Gold 1,786.86 -0.35% BTC 60,850 -1.95% ETH 4277 +0.33%

S&P +0.12% Nasdaq +0.13% EuroStoxx -0.30% FTSE +0.00% Dax -0.25% SMI -0.05%

Macro :
- Swiss Franc Could Slide If Equities Crater
- U.K. Queen Will Not Travel to COP26 at Glasgow Monday: The Sun
- Hedge Funds Revive Treasury Basis Trade as Front-End Yields Soar

Keep an eye on :
- AKSO NO : Aker Solutions 3Q Adjusted Ebitda NOK459M
- GOOGL US : Alphabet 3Q Revenue Ex-TAC Beats Estimates: Snapshot
- ADJ GY : KKR Is Mystery Firm Looking to Buy $1 Billion Adler’s Assets (1)
- AMBA US : Ambarella to Acquire Oculii; Radar Perception AI Algorithm Global Leader for £307.5mil Cash
- ASMI NA : ASMI 4Q Revenue Forecast Beats Estimates
- BAS GY : BASF Boosts FY Adjusted Ebit Forecast
- BFIT NA : Basic-Fit 9M Club Openings 90
- BB FP : BIC Boosts FY Net Sales Ex-fx Forecast
- BP/ LN : BP Added 200k B/D of New Oil and Gas Production in Past Year
- BP/ LN : BP Made $500M On LNG Trading in Q3: Reuters
- BVI FP : Bureau Veritas 3Q Revenue Beats Estimates
- COM GY : Compleo to Buy Innogy Unit for up to EU59m Plus 200,000 Shares
- CRBN NA : Corbion Forecasts FY Results
- DAE SW : Daetwyler to Credit CHF58M to Income on Reichelt Sale
- DAI GY : Mercedes Bets Entry-Level EV Buyers Will Accept Shorter Range
- DAI GY : Daimler Trucks to Unveil Regional Profits in Savings Goal Chase
- DBV FP : DBV Tech 3Q Net Loss $24.0M
- DBK GY : Deutsche Bank 3Q FIC Sales & Trading Revenue Beat Estimates
- DWS GY : DWS 3Q Net Inflows Beats Estimates
- EDPR PL : EDP Renovaveis Hasn’t Signed Any Agreement to Buy Sunseap
- ELK NO : Elkem 3Q Ebitda Beats Estimates
- ENI IM : ENI: Vår Energi Considers Various Alternatives, Including IPO
- ENT LN : DraftKings Jumps, Entain Falls as $22.4 Billion Merger Unravels
- EQNR NO : Equinor Expands Buyback as Profit Jumps on Record Gas Prices (1)
- EVT GY : Evotec Offers Up to 22m ADS
- GOE FP : Gorge to Distribute Most of Its Prodways Shares to Shareholders
- HOFI SS : Hoist Finance 3Q Operating Income SEK642M Vs. SEK679M Y/y
- HYQ GY : Hypoport SE Prelim 9M Ebit EU33.5M
- IFX GY : AMD Boosts FY Revenue Forecast: Snapshot
- MMT FP : M6 3Q Revenue Beats Estimates
- MSFT US : Microsoft 1Q Revenue Beats Estimates: Snapshot
- NTGY SM : Naturgy Seeks to Partner With Plenium in Eolia Bid: Expansion
- NXI FP : Nexity 9M Revenue EU3.29B Vs. EU2.74B Y/y
- NOVN SW : Novartis Syringe Patent Gets Reviewed on Regeneron Challenge
- NOVN SW : Novartis’ Kymriah Gets FDA Priority Review for r/r FL Treatment
- POM FP : Plastic Omnium 3Q Revenue EU1.79B Vs. EU2.10B Y/y
- PUM GY : *PUMA SEES FY EBIT EU450M TO EU500M, SAW EU400M TO EU500M
- REE SM : Red Electrica 3Q Ebitda Meets Estimates
- RLF SW : Relief Therapeutics Unit Reports Positive Data From Covid Trial
- RILBA DC : Rilba Sees FY Pretax Profit High End Of DKK1.2B to DKK1.5B
- RNBS SS : RNB Bondholders Approve Conversion of Debt Into Shares
- SAA1V FH : Sanoma 3Q Revenue Meets Estimates
- SAN SM : Santander on Track to Significantly Beat Profitability Guidance
- SU FP : Schneider Electric 3Q Organic Revenue Beats Estimates
- SCHA NO : Schibsted 3Q Ebitda Meets Estimates
- SCR FP : Scor 3Q Gross Written Premiums Beats Estimates
- SK FP : SEB Boosts FY Reported Sales Change Forecast
- SEYE SS : Smart Eye Offers SEK200m Shares via Carnegie
- BVN SW : Skan IPO Offer Price Set at CHF54/Share; Gross Proceeds CHF93.5m
- SMCP FP : SMCP 3Q Organic Sales +8.4%
- SW FP : Sodexo Sees 2022 Organic Revenue +15% to +18%
- STB NO : Storebrand 3Q Net Income Beats Estimates
- SUN SW : Sulzer 3Q Orders CHF803M, Confirms FY Guidance
- TEMN SW : EQT Is Said to Weigh Bid for Swiss Software Firm Temenos -->Close +20% in the @ $153.50 ie CHF141.20 +15% vs ISX closed - only 65k ADS traded
- TRELB SS : Trelleborg 3Q Adjusted Ebit Beats Estimates
- TUREB SS : Truecaller 3Q Ebit SEK36.2M Vs. SEK34.2M Y/y
- VLA FP : Valneva Offers ADS and Ordinary Shares
- TXN US : *TEXAS INSTRUMENTS 3Q REV. $4.64B, EST. $4.66B
- TKO FP : European Asset Manager Tikehau Files for Singapore SPAC: Report
- 2330 TT : TSMC Founder Says U.S. Won’t Succeed in Local Chip Making: CNA
- VLA FP : Valneva to Defer Reporting 3Q Results Amid Post-Closing Events
- VASTN NA : Vastned 3Q Occupancy 97.6%
- VIFN SW : *ANGION FALLS MORE THAN 50% AFTER TRANSPLANT DRUG W/ VIFOR FAILS
- VOW3 GY : QuantumScape Shares Fall 5.5% as Battery Progress Disappoints
- WLN FP : Worldline 3Q Organic Revenue +8.3%, Confirms FY Guidance
- WLN FP : Worldline Aims for 2022-2024 Revenue Growth of 9% to 11% CAGR
- YCA LN : Yellow Cake Offers $150m Shares

>>> Europe : Brokers Upgrades & Downgrades - 27th of October 2021

>>> Up
* Awilco LNG Raised to Buy at Arctic Securities; PT 5 kroner
* BE Semiconductor Raised to Buy at Deutsche Bank; PT 84 euros
* Bravida Raised to Hold at SEB Equities; PT 115 kronor
* Finnair Raised to Reduce at Inderes; PT 60 euro cents
* FirstGroup Raised to Buy at HSBC; PT 110 pence
* M6 Raised to Buy at SocGen; PT 20.30 euros
* River & Mercantile Raised to Outperform at KBW; PT 340 pence
* Securitas Raised to Buy at HSBC; PT 173 kronor

>>> Down
* Aker Horizons Holding AS Cut to Hold at SEB Equities
* EDAG Eng Cut to Equal-Weight at Morgan Stanley; PT 10.50 euros
* Norbit Cut to Hold at Arctic Securities; PT 35 kroner
* Petra Diamonds Cut to Hold at Berenberg
* Petra Diamonds Cut to Hold at Panmure Gordon; PT 2.21 pence
* Ponsse Cut to Reduce at Inderes; PT 45.50 euros
* Safestore Cut to Hold at Jefferies; PT 1,270 pence
* Shurgard Cut to Hold at Jefferies; PT 56 euros
* Sobi Cut to Hold at Pareto Securities; PT 235 kronor
* Ubisoft PT Cut to 70 euros from 80 euros at Morgan Stanley
* UPS Cut to Hold at Loop Capital; PT $226

>>> Initiation
* Azelis Rated New Buy at HSBC; PT 31 euros
* Azelis Rated New Neutral at Goldman; PT 30 euros
* Azelis Rated New Buy at ING; PT 32 euros
* Azelis Rated New Equal-Weight at Barclays; PT 30 euros
* Azelis Rated New Outperform at Exane; PT 31 euros
* Hellenic Telecom Rated New Buy at Berenberg; PT 20 euros
* IMCD Rated New Underweight at Barclays; PT 160 euros

>>> Call
* BioMerieux Double Upgraded to Outperform at Exane, PT raised 25%
* Bureau Veritas 3Q Growth Ahead, Morgan Stanley Lifts Estimates
* Elis Consensus Set to Rise After Guidance Lift: Morgan Stanley
* M6 Delivers Strong 3Q Beat on Higher Advertising Revenue: Citi
* Unite Raised, Safestore and Shurgard Cut on Valuation: Jefferies

>>> US After Hours Summary: ENPH +12.2%, JNPR +5%, FFIV +4%, TWTR +3.1%, MSFT +1

After Hours Summary: ENPH +12.2%, JNPR +5%, FFIV +4%, TWTR +3.1%, MSFT +1.6% higher on earnings; HOOD -7.1%, TXN -3.5%, V -3.4% lower on earnings; CRTX -72.7% and ANGN -56.8% fall on clinical data

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: ENPH +12.2%, WIRE +11.6%, JNPR +5%, TENB +4.2%, TER +4.2%, FFIV +4%, FBHS +3.7%, TWTR +3.1%, MTDR +1.8%, MSFT +1.6%, MANH +1.2%, APAM +0.6%, HPP +0.1%, AJRD +0.1%

Companies trading higher in after hours in reaction to news: NOVA +4.2% (NOVA partners with CHPT to offer Sunnova customers EV charging solutions), EVGO +3.5% (announces the opening of a new EV charging station), PSNL +2.4% (announces issuance of patents related to NeXT Liquid Biopsy), AEP +1.5% (to sell Kentucky operations to Liberty for $2.846 bln enterprise value), FHN +1.2% (authorizes $500 mln increase to share repurchase program), HARP +0.8% (CEO resigns, names new CEO), PFE +0.8% (FDA committee votes 17-0 to recommend PFE vaccine for kids 5-11), GTY +0.6% (increases dividend), INTC +0.5% (CEO discloses purchase of 10K shares), CHPT +0.3% (NOVA partners with CHPT to offer Sunnova customers EV charging solutions), AMZN +0.1% (AWS announces general availability of Amazon EC2 DL1 instances), TEVA +0.1% (announces collaboration on licensing and development of MODAG's lead compound anle138b)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance: HOOD -7.1%, QS -5.2%, RRC -4.6%, NCR -4.2%, TXN -3.5%, NBR -3.5%, UMBF -3.4%, V -3.4% (also increases dividend), AGYS -3.3%, VBTX -2.9%, HA -2.8%, CSGP -2.7%, COF -1.5%, BYD -1.1% (also authorizes $300 mln share repurchase program), NAVI -1%, WSBC -0.8%, GOOG -0.7%, AMD -0.6%, MASI -0.4%, ACCO -0.2% (also increases dividend), EGP -0.1%, FCF -0.1%, HIW -0.1%, USNA -0.1%

Companies trading lower in after hours in reaction to news: CRTX -72.7% (reports data from Phase 2/3 GAIN trial; co-primary endpoints were not met in overall population), ANGN -56.8% (reports topline results from Phase 3 trial of ANG-3777), DBVT -25.7% (provides regulatory updates from the FDA and EMA for Viaskin Peanut), VALN -8.2% (stock offering), FDMT -5.3% (stock offering), AMBA -0.3% (to acquire Oculii), CQP -0.1% (increases dividend), VEI -0.1% (concludes drilling phase of longest onshore horizontal well in Louisiana), BKH -0.1% (increases dividend), VAL -0.1% (awarded two-year floater contract with Esso Exploration Angola)

>>> US Close Dow +0.04% S&P +0.18% Nasdaq +0.06% Russell -0.72%

Closing Stock Market Summary

The S&P 500 (+0.2%) and Dow Jones Industrial Average (+0.04%) set intraday and closing record highs on Tuesday, but the major indices closed near session lows as fatigue may have crept in. The Nasdaq Composite finished with a comparable 0.1% gain, while the Russell 2000 fell 0.4%.

Early in the session, the S&P 500 was up 0.7% -- coming within two points of the 4600 level -- amid positive price momentum, mega-cap strength, and resilient earnings commentary. The Vanguard Mega Cap Growth ETF (MGK 249.89, +0.73) increased just 0.3% after being up 1.1% intraday. 

Despite the lackluster finish, nine of the 11 S&P 500 sectors still closed higher with gains ranging from 0.2% (financials) to 0.7% (energy). The communication services (-0.5%) and industrials (-0.6%) sectors were the only sectors that closed lower. 

The latter two sectors were pressured by weakness in Facebook (FB 315.81, -12.88, -3.9%) and Lockheed Martin (LMT 331.91, -44.42, -11.8%), both of which issued downside revenue guidance. The earnings landscape was generally more constructive, though. 

UPS (UPS 218.07, +14.17, +7.0%), for instance, rose 7% after providing upbeat results and raising its 2021 operating margin guidance. Notably, the company said the economy remained strong in the third quarter despite supply chain issues and that it'll be raising prices next year -- like many other companies facing higher input costs and strong demand. 

Dow component 3M (MMM 182.16, -0.24, -0.1%) closed little changed following its earnings report, while General Electric (GE 107.44, +2.14, +2.0%) and Eli Lilly (LLY 248.44, +3.39, +1.4%) pleased shareholders with their results. 

Microsoft (MSFT 310.11, +1.98, +0.6%) and Alphabet (GOOG 2793.44, +17.98, +0.7%) rose modestly in front of their earnings reports after the close. 

Elsewhere, U.S. Treasuries settled mixed in a curve-flattening trade despite better-than-expected consumer sentiment data for October and new home sales data for September.

The 2-yr yield increased two basis points to 0.45%, and the 10-yr yield decreased two points to 1.62%. The U.S. Dollar Index increased 0.1% to 93.93. WTI crude futures rose 1.1%, or $0.92, to $84.65/bbl.

Reviewing Tuesday's economic data:

  • The Conference Board's Consumer Confidence Index increased to 113.8 in October (consensus 108.0) from an upwardly revised 109.8 (from 109.3) in September.
    • The key takeaway from the report is that it marked the first upturn in consumer confidence since June, reflecting a feeling of relief about the waning impact of the spreading Delta variant and an improvement in income and labor market prospects.
  • New home sales increased 14.0% month-over-month in September to a seasonally adjusted annual rate of 800,000 (consensus 755,000) from a downwardly revised 702,000 (from 740,000) in August. Taking the downward revision into account, the two-month stack of new home sales growth was roughly in-line with estimates.
    • The key takeaway from the report is that the growth in new home sales is concentrated in higher-priced homes, as inflation pressures, exacerbated by supply constraints, are curtailing the building of lower-priced homes.
  • The S&P Case-Shiller Home Price Index for August was up 19.7% yr/yr (consensus 20.0%).
  • The FHFA Housing Price Index increased 1.0% m/m in August following a 1.4% increase in July. 

Looking ahead, investors will receive Durable Goods Orders for September, the Advance Intl. Trade in Goods, Retail Inventories, and Wholesale Inventories reports for September, and the weekly MBA Mortgage Applications Index on Wednesday. 

  • S&P 500 +21.8% YTD
  • Nasdaq Composite +18.2% YTD
  • Dow Jones Industrial Average +16.8% YTD
  • Russell 2000 +16.3% YTD

>>> Europe : Brokers Upgrades & Downgrades - 26th of October 2021 V2(+)

>>> Up
* B&M European Raised to Overweight at JPMorgan; PT 720 pence
* Burckhardt Raised to Outperform at ZKB (+)
* Coty Raised to Buy at Deutsche Bank; PT $11
* Fortum Raised to Neutral at Oddo BHF (+)
* Renishaw Raised to Buy at Stifel; PT 6,000 pence (+)

>>> Down
* Aker BP Cut to Hold at Norne Securities; PT 350 kroner (+)
* Aker Carbon Capture Cut to Hold at Berenberg; PT 29 kroner
* Aker Carbon Capture Cut to Sell at Fearnley; PT 12 kroner
* EYEMAXX Real Cut to Sell at SRC Research; PT 60 euro cents
* James Fisher Cut to Hold at Peel Hunt; PT 550 pence
* KBC Group Cut to Market Perform at KBW; PT 80 euros
* Softcat Cut to Hold at Numis (+)
* Uniper Cut to Underperform at Oddo BHF (+)
* Xplora Technologies Cut to Neutral at SpareBank; PT 30 kroner

>>> Initiation
* Embracer Rated New Underperform at BofA; PT 70 kronor (+)
* DS Smith Rated New Overweight at Morgan Stanley; PT 450 pence (+)
* MPC Energy Solutions Rated New Buy at Arctic Securities
* Segro Rated New Buy at Berenberg; PT 1,500 pence
* Smurfit Kappa Rated New Equal-Weight at Morgan Stanley (+)
* Stora Enso Rated New Underweight at Morgan Stanley (+)
* Tritax EuroBox Rated New Buy at Berenberg; PT 130 pence
* Tritax Big Box Rated New Buy at Berenberg; PT 250 pence
* Urban Logistics REIT Rated New Buy at Berenberg; PT 200 pence
* UPM-Kymmene Rated New Equal-Weight at Morgan Stanley (+)
* Warehouse Rated New Buy at Berenberg; PT 200 pence

>>> Call
* Alfa Laval 3Q Beats, Citi Sees Upside Risk to Near-Term Orders (+)
* Berenberg Sees More Upside for Logistics Property Stocks
* Bunzl Estimates Raised at Citi on 3Q Beat, Guidance Boost (+)
* DSV Update on GIL Deal Integration ‘Sentiment Positive’: Citi (+)
* Essentra Pure-Play Components Plan Seen Adding Value: Peel Hunt (+)
* Faurecia 3Q Revenue ‘Broadly’ In Line, Guidance Confirmed: Citi (+)
* Novartis’ Beat May Lead to ‘Small Uptick’ for Shares: Jefferies (+)
* Orange Results Show Pressure on Wholesale Division, Goldman Says (+)
* Richemont Is ‘Rudderless’ With Future Unclear, Alphavalue Says
* Symrise 3Q Sales Beats on Flavor & Nutrition Strength: Jefferies (+)
* THG’s 3Q Results ‘Mixed’ With Slight Sales Beat, Citi Says (+)
* U.K. Homebuilder Stocks Offer Significant Value, Citi Says
* Value Retail Sector Well-Placed, B&M Up to Overweight: JPMorgan
* Whitbread Could Rise as Hotelier Predicts Faster Recovery: MS (+)

WWD : Jean Paul Gaultier Ventures Into Vintage, Rentals

Jean Paul Gaultier Ventures Into Vintage, Rentals
A revamped e-store will be genderless and offer a freewheeling mix of fashion and beauty products.

Jean Paul Gaultier managing director Antoine Gagey calls the French house’s archive a goldmine, as it spans more than 30,000 pieces created by France’s beloved “enfant terrible” over a spectacular 50-year fashion career.
Now the brand is opening up that bounty to the public by renting out spectacular runway looks as part of a revamped website that will also sell selections of vintage, with the ultimate goal of reclaiming the resale business as an in-house venture.
Slated to go live Wednesday, the site crystallizes the new thrust of the business with its digital-first distribution model, rotating creative crews, drops instead of collections — and a return to ready-to-wear, six years after the founder halted men’s and women’s rtw and 21 months after the acclaimed designer retired from the runway.

In an exclusive interview, Gagey said its first rtw volley last May, a collection devoted to new interpretations of Gaultier’s fetish sailor theme, effectively sold out “in a couple of hours,” confirming fervent interest in the brand and its new approach, which also includes freewheeling collaborations, upcycled items and “interventions” on garments by the expert hands in the Gaultier couture atelier.
“We believed that there was a potential, and we’re very, very happy with our first results,” he said, citing particular enthusiasm among consumers in France, the U.S. and the U.K.
A one-off couture collection by Chitose Abe of Sacai last July — the plan is to invite a different guest designer each season — was also a success. A three-way collaboration between Jean Paul Gaultier, Sacai and Nike on a Vaporwaffle sneaker sold out in a matter of minutes, while co-branded rtw items in tandem with the couture sold out in days.
The new e-store — with enhanced functionality and editorial elements — represents the brand’s main window to the world, a newfangled concept store blending an array of product categories including fragrances, but without the usual filtering of men’s and women’s.
“We wanted it to be genderless. It’s a way to reassert that we are Jean Paul Gaultier, we are gender-fluid,” Gagey said, speaking in the maison’s Philippe Starck-designed couture salons.
Moreover, “we want to explore new ways of buying and experiencing fashion by mixing in the same platform, on the same page, new looks from our design studio, design collaborations with some guests, re-edition of iconic pieces and also vintage,” he said.
For example, the new-look site will go live Wednesday with a wide array of clothes based on punk style, including tartan tailoring, knitwear and jersey pieces emblazoned with historic logos; a collaboration with New York outerwear company Schott around customized vintage perfecto jackets, and an array of products by Paris-based accessories designer Stéphanie D’heygere, including tin-can bracelets and razor-blade rings.
A look from the new punk-themed drop.
COURTESY
For true fanatics of the house, which has often glamorized smoking, there will also be limited-edition resin ashtrays embedded with such artifacts from the couture atelier as embroidered clothing labels, forgotten pins and cigarette butts.
The opportunity to rent archival Gaultier rtw, including looks from the ’80s and ’90s, opens up the designer label to a much broader audience, with prices ranging from about 150 euros for a scarf to 700 euros for a cage-style evening dress.


The service, expected to go live soon, arrives at a time when Millennials and Gen Z are beginning to shun fast fashion in favor of durable basics, and turn to vintage or rentals for more experimental fashion statements.
The initial cache of archival looks for rent include several dresses incorporating the designer’s famous satin cone bra, and a denim outfit for men paved in studs. About 30 items are to become available for rent initially.
This “cage” dress is among Jean Paul Gaultier runway looks that will be available to rent.
COURTESY
“We will renew the offer, depending on the trends, for example if we see certain items in the vintage market trending or inflating,” Gagey explained. “The idea is to renew, to surprise the customer and to give them the opportunity to wear different pieces of Jean Paul Gaultier that they will not be able to buy simply because they don’t exist. These are samples.”
The executive said the intention is to keep the rental service quite exclusive, and not “invade the market. It’s another way for us to explore and be in contact with the whole fan base,” he noted.
The Puig-owned fashion house began meticulously cataloging its archive — repairing, classifying, digitizing and moving clothes and accessories to safe storage — about a year ago, and there is yet more work to do.
Gagey said the new site will launch with about 50 vintage items for sale, sourced via private clients and resellers, with the ultimate goal of becoming the dominant dealer in pre-loved Jean Paul Gaultier. He said discussions are underway with prominent resale marketplaces “about potential ways of collaborating. Why not have help from them? But we want to be running the vintage business.…It’s very strategic for us.”
A spring 1998 Jean Paul Gaultier look for sale on the brand’s new website.
COURTESY
The executive sited robust interest in vintage Gaultier — and rising resale prices — on such prominent platforms as Vestiaire Collective and Depop, the latter renowned for its young audience.
“I think the vintage market is the number-one barometer to measure the brand equity of Jean Paul Gaultier, in particular for us because our business is restarting,” he said. “We’ve also noticed that some of the products we have dropped in the last couple of months, which were available in very limited quantities…are also being resold on secondary markets, sometimes at 20 times the price we sold a few weeks before on our platform.”


Examples include a tulle dress in sailor stripes, and a T-shirt done in collaboration with edgy rapper Lil Nas X, whom Gagey likened to today’s version of the blockbuster Madonna collaboration of yore.
While digital remains the main distribution vehicle for the revamped house, it plans to work with online and offline wholesalers for specific collection drops.
For instance, the new punk range will be sold at all Dover Street Market locations worldwide, Selfridges in London, Galeries Lafayette Champs-Élysées in Paris, Voo Store in Berlin and Canadian e-tailer Ssense.com, which also carried the sailor-themed rtw drop.
Gagey cited two main customer bases: More mature, forever fans of the beloved French designer, and a young generation that is now discovering the ground-breaking, inclusive fashions of the founding couturier and eager to buy into accessible product categories, such as jersey, with the new rtw drops.
Logo T-shirts fill all sizes — from two months up to 4XL.
COURTESY
Exemplifying the house’s goal to tap as wide an audience as possible — in tune with the come-one, come-all ethos pioneered by the founder — one of the logo T-shirts in the punk collection comes in sizes, all the way from two months to 4XL.
Gagey noted the next rtw drop is tentatively scheduled for March, while its second guest couturier, Glenn Martens, is to unveil an haute couture collection in Paris next January.