GREEN PEBBLES

Richemont reported strong sales growth today across all segments and all geographic regions, despite a volatile and diverse economic environment.

The Group’s Jewellery Maisons and its Specialist Watchmakers have reported record sales and profits, despite the strength of the Swiss franc and the rising cost of precious materials and input costs. 

Montblanc has continued to grow and reported increased profits. Richemont’s Fashion and Accessories Maisons also performed well.

Net-a-Porter continues to enjoy sales growth above the Group average, while at the same time investing in structural expansion.

The Jewellery Maisons’ sales grew by 32 % with Cartier and Van Cleef and Arpels performing exceptionally well.

Demand for High Jewellery pieces was solid and more accessible jewellery ranges enjoyed very strong demand. Cartier’s watch collections, including premium and technical pieces, were equally successful.

 

The Specialist Watchmakers’ sales increased by 31 %.  (Last year’s sales and results were negatively impacted by the reorganisation of Baume & Mercier).

Overcoming higher input costs and the strength of the Swiss franc, the operating margin increased to 23 %, reflecting the solid demand for premium watches and strong pricing power.

Sales at Net-a-Porter continued to rise above the Group’s average rate, including the first full year of Mr Porter. The amortisation of intangibles and the costs associated with the continued expansion of Net-a-Porter’s platforms contributed to its overall increase in losses. On a cash basis, Net-a-Porter generated positive results.

Growth for Richemont companies was seen in most geographic areas:

Europe  + 20%
Solid double-digit organic growth was registered across the region. Sales in the region were boosted by the growing number of travellers from other parts of the world and Net-a-Porter’s performance. The Middle East and Africa, which accounted for 16 % of sales in the region, reported strong double-digit growth.
 
Asia-Pacific +46%
Now representing 42% of Group sales, the Asia-Pacific region reported another year of sustained broad-based growth, particularly in Hong Kong and mainland China. The Group’s selective expansion of its retail network in recent years contributed to the strong year-on-year growth.
 
Americas +30%
The Americas region reported robust double-digit growth reflecting the growing demand for jewellery and watches as well as Net-a-Porter’s performance.
 
Japan +39%
Sales in Japan grew, notwithstanding the continuing challenges the country faces following the dramatic events of March 2011.

Johann Rupert Richemont's Executive Chairman and CEO commented:

"The enduring appeal and the development potential of each of our Maisons lead us to focus our investment on the Group’s organic growth. Investments are primarily dedicated to the expansion and integration of the Maisons’ respective manufacturing facilities, as well as growth in their retail networks. Selective boutique openings will be focused in growth markets and in tourist destinations around the world.
 
Our Maisons remain entrepreneurial and innovative businesses at heart. More than ever, we are convinced of their resilience and long-term prospects. We therefore look forward to the future with cautious optimism."

Babajaan Maiara (Helen) Silk Georgette Kaftan (red bahia)

Catching up with Sandra Moleirinho is somewhat of a challenge as she is constantly travelling from one country to another at the drop of a hat, as founder and creative director of luxury, swimwear, beachwear and accessories brand BABAJAAN.

Yet when we finally do, we fully comprehend that her incredibly approachable nature, her innate sense of style, her true passion for what she does, and her decision early on to give back to society make a her a true force of nature!

Sandra attributes her successful achievements, and driving Babajaan full steam ahead to greater expansion and successes despite a difficult financial climate to a strong determination, in her words "You need to believe in yourself and in your choices, however the journey is not easy and you need to be sensitive to predict obstacles and to find the solutions."

The company is  growing 'organically happily,' as Sandra points out, something Sandra believes "also evolves through connecting to people and having the right partners..., our clients are all over the world from luxury resorts to high-end boutiques, in the Caribbean, South America, USA, Europe, Japan, to the Middle East...and now we are launching the collection in Brazil which is very exciting!"

Babajaan's main markets at the moment are USA, Europe and Asia, and Sandra was pleased to report that they were  starting to have some interesting requests from South America.

Sandra's view about luxury is that it should be timeless and she tells us about a Babajaan long kaftan that belonged to their very first collection 4 years ago " I love this piece and still wear it and I have people always asking me: Is this a new piece? Where can I find it?"

As many of the established luxury brands are now finding that their consumers, including Those from their newer markets such as Russia, China etc are returning to values such as heritage, craftsmanship, and durability, as stated by Antoine Arnault recently we ask Sandra how she believes Babajaan will fit into this ‘new vision’ of the luxury client:

We are living in a moment that we want real experiences in life and this also changes behave in fashion, people wants to purchase pieces that have integrity, a nice story and quality with the correct value.

So who is the Babajaan client, who is the woman buys Babajaan, Sandra's response is in our opinion probably one of the keys to her success "It is an interesting question, because our clients are many types of women, they all love celebrating life, love and family.... We receive many emails with images of clients wearing our collection and they share their experiences with us. We are very happy to receive these emails and that Babajaan is part of their holidays, journeys and beautiful moments; it seems our clients love the simplicity of our shapes and quality".

Indeed, we would go so far as suggesting that Sandra's vision of Babajaan is so close to what women feel and need that they welcome Babajaan into their own life making Babajaan part of their family whilst entering Babajaan's own extended family.  Brand loyalty at its very best which will in all probability be handed down from generation to generation.

Sandra's Brazilian heritage and the concept of ‘Brazilian weekend’, as she once described it,  filters through the Babajaan collection, highlighting how important Sandra's heritage is to her:  As a young girl I used to spend almost of my weekends at our beach house, and it is true those weekends were amazing, we were always going to the beach, we were windsurfing, sailing; the swimwear becomes such an important part of your wardrobe because you wear it all the time, it becomes your daywear

Feeling good, comfortable and easy to wear are all musts for Sandra and this is translated into a collection where the Brazilian tradition that your Swimwear becomes becomes your daywear is clear through the functionality and practicality which are always considered when producing a Babajaan collection. 

A rather refreshing concept for those of us who grew up with the mantra 'no pain, no gain'!

Yet, Sandra readily admits that there has been some influence from Europe where she has now worked and lived in  for over 10 years:  "My core inspiration comes from Brazil, my lifestyle and my connection with nature, but since I moved to Europe 15 years ago, I must say that our pieces have the European quality, finishing and details, living in Europe made my attention to details even more accurate."

Through Babajaan Sandra is also able to give back to society through charities that benefit directly from the manufacture and the sale of the Babajaan Collection.  We ask Sandra to tell us more about this:

"We decided to manufacture Babajaan collection in India, Brazil, Ecuador and other countries for their expertise and tradition, best in their art such as embroidery work in India, special weaves and handmade techniques for the Panama Hats in Ecuador and Brazil for the great swimwear fabrics and manufactures.

The project involves the countries were we manufacture the Babajaan collection as the core of it is to give something back to each community.

Each Babajaan piece sold will help children organizations in these countries, helping children with better opportunities in life such food, guidance and study. It is important that we contribute for this vision to happen. We really love this project and we are putting our hearts on it to expand it soon."

Although Babajaan started manufacturing only in Brazil famed for its luxury swimwear production,  they now also manufacture part of their collection in Italy too, ensuring exceptional craftsmanship in both countries.

  

 

The 2012 Cruise and Summer Collection Sandra explained to us were  "inspired by the Brazilian Indigenous culture and manifestation. The strong colours such as the purple, green and coral red represents their tribal dances which translates to the power of their wishes for a better blessing during the year. The embroidery details were inspired by elements from their accessories such as the “Cocar ” which represents a particular feather headdress worn as a symbol of nobility to the Indians.

Brazilian Tribal Dancer

The concept of goddess is often mentioned by Sandra and indeed on more than one occasion during interviews she has spoken about Babajaan bringing out the goddess in every woman, which of course makes us ask, just how does Babajaan do this?  Sandra's answer is clear and to the point "Our pieces are designed to enhance women’s natural beauty, this is the message, we celebrate women!" but in her view is there a goddess in every woman "For sure, we women have such a power, such a beautiful energy; we are mothers, wives, girlfriends, business women, leaders...

When we ask Sandra to define Babajaan and Sandra Moleirinho she replies:

"Babajaan is comfortable and elegant, and Sandra is a small piece of Brazil."  A great combination in our opinion, and we ask Sandra to choose the pieces in the collection which she believes represent Babajaan and Sandra best respectively and interestingly her replies are very similar: "I would say the Jackie and the Liza bikini and all Helens kaftans that are all part of our continuity line, represent Babajaan the best and for myself, despite the fact that I am inspired by women and I design for all of them, for myself I love the Helen shapes and the Jackie bikinis.."

So what kind of a designer is Sandra Moleirinho?  She describes herself as a disciplined designer, but not necessarily methodical (i.e. someone who is content to sit at their desk and sketch away), she needs her "moments alone for creation and this can be anywhere" and Sandra was kind enough to share one of her personal images  "one of my moments of inspiration in December 2011, in a empty beach in Angra dos Reis....even in a cloudy day Angra dos Reis is so beautiful!"

Moments of inspiration for Sandra Moleirinho in December 2011, in a empty beach in Angra dos Reis

A major fan of Coco Chanel whom she relates to because "she made a difference and left her mark in the fashion world, she was a real woman from a real world and that brought luxury into luxury", Sandra also loves Azzedine Alaia "his shapes are amazing, his designs, everything, a man that can read women's sensuality and femininity in a perfect way".

As the luxury market is seeing a major upturn with many of the luxury brands posting phenomenal sales results for this fiscal year’s third quarter there is a desire for expansion and consolidation for many brands including Babajaan who will in the future see interesting collaborations and an expansion of the collection into new product lines.

As far as long term plans for Babajaan Sandra aims to "enjoy all the results of our efforts, have a happy team, our own Babajaan stores and the children project spread around the world!"

REMEMBER TO WATCH THIS SPACE..... as Sandra has promised "A LITTLE FUN SURPRISE" for the Autumn Winter 2012/2013 collection! 

WE CAN'T WAIT!

To purchase your own Babajaan piece and join the "Babajaan Family" you'll be delighted to know that the Babajaan Collection is available from NET-A-PORTER.COM worldwide as well as the following boutiques and stores!

For additional information please visit Babajaan's website WWW.BABAJAANCOLLECTION.COM

Red Luxury reported today that the Net-A-Porter Group has acquired the Chinese discounted, members' only luxury e-tailer Shouke.com 

Shouke.com will be relaunched as Theoutnet.cn which will offer products by international designers at discounts of up to 80% to consumers.

Karl Lagerfeld’s much anticipated lower-priced KARL Collection has finally been revealed, and we can honestly say it was worth the wait!

Both feminine and androgynous styles can be recognised in the stunning sequin pencil skirts and more structured boxy blazers.

Amongst our favourites is the poplin cameo collar and fingerless leather gloves, both are heavily inspired by Lagerfeld’s personal trademark style.  The cameo completes the finish of the collar flaunting Karl Lagerfeld’s very own seal of approval.

Prices start at £20 for an illustrated portrait shopper bag and range up to £980 for the ‘Jacey’ snakeskin effect leather jacket.

Hurry, Quick!  We wouldn’t want you to miss out!

               

 

 

 

 

            

Images via Net A Porter

 

HF reporting from UK

helen@green-pebbles.com