Chow Tai Fook celebrates Valentine’s Day with selection of the finest diamond jewellery and store events

Chow Tai Fook celebrates Valentine’s Day with selection of the finest diamond jewellery and store events

 

Hong Kong, 2017-Feb-07 — /EPR Retail News/ — Chow Tai Fook curates a wonderful selection of the finest diamond jewellery to let you express your deepest affection and commitment to your love in this Valentine’s Day. Chow Tai Fook Shine Collection, Chow Tai Fook Perfect Love Collection “Together”, Chow Tai Fook Forevermark Swan Bridal Collection, Chow Tai Fook Magic SquareTM Forevermark Collection, Chow Tai Fook “Twinkle Me” Collection (Powered by Coronet) and Chow Tai Fook Disney “Tsum Tsum” Collection will embody your promise of “two hearts as one forever” on the most romantic day of the year.

To celebrate and countdown this sparkling and affectionate moment, Chow Tai Fook is pleased to launch two promotion campaigns, reminding couples of their romance with promises and tokens of love.

“Sparkling Moments”Online Game*

From now until February 14, 2017, customers can visit our promotion site to mix and match their own love declaration, share it to their personal facebook accounts, and stand a chance to win a diamond pendant, HK$100 SOGO vouchers or HK$300 Chow Tai Fook vouchers.

Promotion Site: https://promotion.chowtaifook.com/valentines_2017/

“Sparkling Moments” Store Event*

From February 11 to 12, 2017, customers can join our special store events and enjoy a digital journey of romance at selected branches, to stand a chance to win a diamond pendant, HK$100 SOGO vouchers and HK$300 Chow Tai Fook vouchers.

Store event details:

Date Address
February 11 (Sat) 2PM-5PM 6TH CAUSEWAY BAY BRANCH, Shop No.G01, G/F, Laforet Excelsior Plaza, 24-26 East Point Road, Causeway Bay, H.K.
February 12 (Sun) 2PM-5PM 8TH TSIM SHA TSUI BRANCH, Shop 3, 4 & 15, G/F, Star House, 3 Salisbury Road, Tsim Sha Tsui, Kowloon, H.K.

 

* The above promotions are subject to terms and conditions, please visit our promotion site for more details. In case of any dispute, Chow Tai Fook reserves the right of final decision.

Media Enquiries:

media@chowtaifook.com

Source: Chow Tai Fook

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Tiffany & Co. announces departure of its CEO Frederic Cumenal

  • Frederic Cumenal Steps Down as CEO
  • Chairman Michael Kowalski Will Serve as Interim CEO; Board Will Work with Executive Search Firm to Recruit Successor
  • Reaffirms FY 2016 Earnings Guidance

NEW YORK, 2017-Feb-07 — /EPR Retail News/ — Tiffany & Co. (NYSE:TIF) today (February 5, 2017 ) announced that Frederic Cumenal has stepped down as Chief Executive Officer, effective immediately. The Board of Directors has commenced a search to recruit a successor in which it will be assisted by a leading executive search firm. During this process, Michael J. Kowalski, Chairman of the Board of Directors and previous CEO of Tiffany, will serve as Interim CEO while continuing as Chairman.

“On behalf of the entire Board of Directors, I would like to thank Frederic Cumenal for his contributions to Tiffany,” said Mr. Kowalski. “At a time of continuing challenges in the global luxury market, Frederic has enhanced the management team and taken important steps to position Tiffany for success in the long term. We wish him the best in his future endeavors.”

Mr. Kowalski continued, “The Board is committed to our current core business strategies, but has been disappointed by recent financial results. The Board believes that accelerating execution of those strategies is necessary to compete more effectively in today’s global luxury market and improve performance. As such, we remain focused on enhancing the customer experience, increasing the rate of new product introductions and innovation, maximizing marketing effectiveness, optimizing the store network, and improving our business operations and processes, all while efficiently managing our capital and costs. We believe these initiatives and the pace of their execution are key to driving shareholder value. Tiffany is an iconic brand with a family of talented and committed employees to match, and I look forward to supporting both during the transition.”

Mr. Cumenal said, “I am proud of what we have accomplished at Tiffany and would like to thank the management team and our many talented employees around the world with whom I have had the pleasure to work. I have great confidence in Tiffany’s brand, strategic direction and people, and I believe the Company will have many exciting opportunities in the future.”

Reaffirms Annual Guidance

The Company also affirmed, based on its plans and assumptions detailed in the January 17, 2017 holiday period sales news release, its fiscal year 2016 guidance described in that press release. The Company expects to report its fourth quarter and full 2016 fiscal year results, and also to provide its expectations for the 2017 fiscal year, on March 17 before the market opens.

Tiffany is the internationally renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit www.tiffany.com or call our shareholder information line at 800-TIF-0110.

Forward-Looking Statements:

Statements contained in this document that are not statements of historical fact, including those that refer to the Company’s search for a successor CEO, the Company’s strategy and initiatives and the pace of execution thereon, the Company’s objectives to compete in the global luxury market and to improve financial performance, and the Company’s fiscal year 2016 guidance, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

The potential risks and uncertainties that could cause the Company’s actual results, performance or achievements to differ from the predicted results, performance or achievements include, among others, global macroeconomic and geopolitical developments; changes in interest and foreign currency rates; changes in taxation policies and regulations; shifting tourism trends; regional instability, violence (including terrorist activities), political activities or events, and weather conditions that may affect local and tourist consumer spending; changes in consumer confidence, preferences and shopping patterns, as well as our ability to accurately predict and timely respond to such changes; shifts in the Company’s product and geographic sales mix; variations in the cost and availability of diamonds, gemstones and precious metals; changes in our competitive landscape; our ability to successfully control costs and execute on, and achieve the expected benefits from, our operational and strategic initiatives, and any difficulties or delays we encounter in identifying a successor CEO.

Additional information about potential risks and uncertainties that could affect the Company’s business and financial results is included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2016, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company’s Press Release dated January 17, 2017. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law or regulation.

Contact:
Mark L. Aaron
212-230-5301
mark.aaron@tiffany.com

Source: Tiffany & Co.

Signet Jewelers Limited announces organizational changes

Expands Digital Expertise through Appointment of Brian A. Tilzer to Board of Directors

HAMILTON, Bermuda, 2017-Feb-01 — /EPR Retail News/ — Signet Jewelers Limited (NYSE:SIG), the world’s largest retailer of diamond jewelry, announced several organizational changes designed to enable execution of key business priorities including strengthening customer service, enhancing digital capabilities and driving profitable growth

Senior Organizational Changes Include:

  • Creating a new President & Chief Customer Officer role to sharpen Signet’s focus on delivering an exceptional and unified omni-channel customer experience across brick-and-mortar, mobile and digital retail platforms
  • Creating a new Chief Retail Insights and Strategy Officer role to consolidate and enhance retail analytics, consumer insights and strategy functions to drive strategy across the business
  • Consolidating responsibility for IT modernization, transformational initiatives and achieving operational efficiencies throughout Signet’s supply chain under the Chief Operations Officer
  • Announcing the retirement of two long-time executives: Ed Hrabak, Signet Chief Operations Officer; and Tryna Kochanek, EVP, North American Store Operations
  • Expanding Signet’s overall digital capabilities by adding a digital expert to Signet’s Board of Directors

Chief Executive Officer Mark Light said, “We continue to align our organization and priorities with our Vision 2020 strategy and the changing retail environment, characterized by evolving shopping habits and increasing customer expectations for an outstanding digital experience. We are investing and directing more resources to improve the overall customer omni-channel journey, re-emphasizing our commitment to the customer experience and enhancing our analytics function to ensure we are offering products and services that appeal to today’s and tomorrow’s customers. These changes and investments support the long-term growth of our business and build upon our competitive strengths and leading market position.”

Exceptional Customer Experience

The Company announced the promotion of Sebastian Hobbs, UK Managing Director, to the newly created role of President and Chief Customer Officer.

“We view this new role of President & CCO as critically important to the future success of our organization,” said CEO Mark Light. “As the world’s largest diamond jewelry retailer, Signet is committed to continually earning the trust of our customers and ensuring they have a world-class experience. Seb’s experience uniquely positions him to succeed in this newly created role which reflects the importance we place on the customer experience at Signet. We are confident Seb will provide the leadership necessary to provide our customers with a strong voice and build a highly attentive and responsive omni-channel organization.”

Mr. Hobbs will report directly to Signet’s CEO and have global responsibility for leading all three of Signet’s critical, customer-facing functions: Store Operations, Merchandising and Marketing, including the continued development of a best-in-class omni-channel experience. Mr. Hobbs’ experience includes nearly six years at Signet, along with broad retail General Management and Commercial executive experience, and successful leadership of the UK Division’s business.

Signet also announced that Emma Hayward will be promoted to Executive Director of the UK Division, reporting to Mr. Hobbs, who will continue to oversee UK operations in his role as President & CCO. Currently UK Store Operations Director, Ms. Hayward has more than 20 years of experience in increasing retail leadership responsibilities, including 12 years in a number of management roles leading store operations at Signet.

Mark Light added, “Emma Hayward will be promoted to Executive Director of the UK Division, reporting to Seb, who will continue to oversee UK operations. We believe her commitment and experience will ensure an unparalleled customer experience across our UK businesses.”

Ensuring Efficiency and Infrastructure Excellence

Bryan Morgan, EVP, Supply Chain Management and Repair, has been promoted to Signet’s new Chief Operations Officer reporting to CEO Mark Light.

“The ongoing modernization of Signet’s IT systems is critical to meeting increasing consumer demand and supporting an exceptional online shopping experience,” said Light. “Bryan will be responsible for working closely with our Chief Information Officer to deliver against our IT systems objectives.”

Mr. Morgan will also lead Signet’s transformational initiatives and operational efficiency objectives, in addition to his current responsibilities for the expansion and harmonization of Signet’s international distribution centers and logistics, implementing enhancements to customer repair procedures, and continuously improving the Company’s strategic procurement processes.

Leveraging Consumer Insights and Analytics

George Murray, Chief Merchandising and Marketing Officer, has been named to the new role of Chief Retail Insights and Strategy Officer, reporting to CEO Mark Light. The move reflects the increasing complexity and scope of the business and a greater emphasis on retail and consumer data to drive strategy across the business.

Mr. Murray will continue to play a key role on Signet’s Executive Committee. He will also focus on identifying strategic opportunities for future growth, building out a world-class retail analytics function and fully integrating our retail analytics capabilities with the Strategy team.

Expanding Digital Expertise on Signet’s Board of Directors

In a companion press release, Signet has announced that Brian A. Tilzer, currently Chief Digital Officer at CVS Health, has been appointed to the Signet Board of Directors.

“Brian’s deep experience from his digital and e-commerce roles at major retailers, combined with his current work developing a breakthrough customer experience through digital in an omni-channel environment, are perfectly aligned with our priorities, said Mark Light. “We are thrilled that Brian will be joining our Board, and we look forward to benefitting from his outstanding digital and retail expertise as we continue to enhance our omni-channel capabilities.”

Mr. Tilzer has more than 20 years of experience in strategic business development, operations and information technology, with a deep concentration in corporate and ecommerce strategy. Prior to joining CVS Health, Tilzer was the Senior Vice President of Global e-Commerce withStaples, where he developed and led several multi-channel digital innovation strategies. Tilzer holds a BA from Tufts University and an MBA from The Wharton School.

Key Retirements

In addition to the new leadership position appointments, Signet is announcing the retirement of two long-time executives: Ed Hrabak, Signet Chief Operations Officer; and Tryna Kochanek, EVP, North American Store Operations. Each executive has committed to ensuring a smooth transition prior to departure.

“With a career spanning nearly 40 years, including 30 years at Signet in key Merchandising and executive leadership roles, Ed has earned a distinguished global reputation throughout the jewelry industry. As he steps down from his COO role, we want to recognize his values-driven leadership, which has been instrumental in our rapid profitable growth and performance excellence.”

Mr. Light continued, “We greatly value Tryna’s many contributions to our organization since she began her career at Signet 30 years ago. Tryna has taken on increasingly significant Store Operations leadership roles throughout her career and her dedication to developing team members and her commitment to measurable excellence had a tremendous impact on Signet’s growth and success.”

“We want to express our heartfelt appreciation for Ed’s and Tryna’s dedication and countless contributions to Signet over these past three decades and we wish them the very best in their retirements.”

About Signet and Safe Harbor Statement

Signet Jewelers Limited is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk,www.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, based upon management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, Signet’s results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “forecast,” “objective,” “plan,” or “target,” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including but not limited to general economic conditions, to general economic conditions, regulatory changes following the United Kingdom’s announcement to exit from the European Union, a decline in consumer spending, the merchandising, pricing and inventory policies followed by Signet, the reputation of Signet and its brands, the level of competition in the jewelry sector, the cost and availability of diamonds, gold and other precious metals, regulations relating to customer credit, seasonality of Signet’s business, financial market risks, deterioration in customers’ financial condition, exchange rate fluctuations, changes in Signet’s credit rating, changes in consumer attitudes regarding jewelry, management of social, ethical and environmental risks, security breaches and other disruptions to Signet’s information technology infrastructure and databases, inadequacy in and disruptions to internal controls and systems, changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions, risks related to Signet being a Bermuda corporation, the impact of the acquisition of Zale Corporation on relationships, including with employees, suppliers, customers and competitors, and our ability to successfully integrate Zale Corporation’s operations and to realize synergies from the transaction.

For a discussion of these risks and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward looking statement, see the “Risk Factors” section of Signet’s Fiscal 2016 Annual Report on Form 10-K filed with the SEC on March 24, 2016 and Part II, Item 1A of Form 10-Q filed November 29, 2016. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Contact:

Investors:
James Grant
1-330-668-5412
VP Investor Relations

Media:

David Bouffard
1-330-668-5369
VP Corporate Affairs

Source: Signet Jewelers Limited

Signet Jewelers Limited expands its board to 12 members with the appointment of Brian A. Tilzer

HAMILTON, Bermuda, 2017-Feb-01 — /EPR Retail News/ — Signet Jewelers Limited (NYSE:SIG), the world’s largest retailer of diamond jewelry, today (January 31, 2017) announced that the Signet Board of Directors has voted to expand the board to 12 members and has appointed Brian A. Tilzer to fill the newly created board position effective immediately. Mr. Tilzer currently serves as Chief Digital Officer at CVS Health and has more than 20 years of experience in strategic business development, operations and information technology, with a deep concentration in corporate and ecommerce strategy. Prior to joining CVS Health, Mr. Tilzer was the Senior Vice President of Global e-Commerce with Staples, where he developed and led several multi-channel digital innovation strategies.

“Brian brings to Signet deep, innovative digital and e-commerce experiences at major retailers,” said Chairman H. Todd Stitzer. “There is a valuable connection between Brian’s very specific experience and the strong growth opportunities ahead for Signet. Brian is a successful innovator in the digital space and we believe his knowledge and insight will make Brian a valuable addition to the Signet Board of Directors.”

In his role as Senior Vice President and Chief Digital Officer for CVS Health, Mr. Tilzer is responsible for developing and leading the teams driving CVS Health’s company wide digital innovation efforts. He is also focused on connecting current and future digital initiatives and ensuring that CVS Health continues to use the most innovative technology available to seamlessly meet customers’ needs.

Mr. Tilzer holds a BA from Tufts University, an MBA from The Wharton School, and is a member of the Mass Technology Leadership Council (MassTLC), a leading technology association and the premier network for tech executives, entrepreneurs, investors and policy leaders.

About Signet and Safe Harbor Statement:

Signet Jewelers Limited is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,600 stores primarily under the name brands of Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda. Further information on Signet is available at www.signetjewelers.com. See also www.kay.com, www.zales.com, www.jared.com, www.hsamuel.co.uk,www.ernestjones.co.uk, www.peoplesjewellers.com and www.pagoda.com.

This release contains statements which are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, based upon management’s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, among other things, Signet’s results of operation, financial condition, liquidity, prospects, growth, strategies and the industry in which Signet operates. The use of the words “expects,” “intends,” “anticipates,” “estimates,” “predicts,” “believes,” “should,” “potential,” “may,” “forecast,” “objective,” “plan,” or “target,” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including but not limited to general economic conditions, to general economic conditions, regulatory changes following the United Kingdom’s announcement to exit from the European Union, a decline in consumer spending, the merchandising, pricing and inventory policies followed by Signet, the reputation of Signet and its brands, the level of competition in the jewelry sector, the cost and availability of diamonds, gold and other precious metals, regulations relating to customer credit, seasonality of Signet’s business, financial market risks, deterioration in customers’ financial condition, exchange rate fluctuations, changes in Signet’s credit rating, changes in consumer attitudes regarding jewelry, management of social, ethical and environmental risks, security breaches and other disruptions to Signet’s information technology infrastructure and databases, inadequacy in and disruptions to internal controls and systems, changes in assumptions used in making accounting estimates relating to items such as extended service plans and pensions, risks related to Signet being a Bermuda corporation, the impact of the acquisition of Zale Corporation on relationships, including with employees, suppliers, customers and competitors, and our ability to successfully integrate Zale Corporation’s operations and to realize synergies from the transaction.

For a discussion of these risks and other risks and uncertainties which could cause actual results to differ materially from those expressed in any forward looking statement, see the “Risk Factors” section of Signet’s Fiscal 2016 Annual Report on Form 10-K filed with the SEC on March 24, 2016 and Part II, Item 1A of Form 10-Q filed November 29, 2016. Signet undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Contact:

Investors:
James Grant
1-330-668-5412
VP Investor Relations

Media:
David Bouffard
1-330-668-5369
VP Corporate Affairs

Source: Signet Jewelers Limited

Kering announces next phase of its sustainability strategy across its luxury brands

  • Kering defines a new, sustainable luxury that operates within the “planetary boundaries”
  • Kering sets ambitious 2025 Targets and key milestones to meet over this period
  • Kering’s strategy aligned with UN Sustainable Development Goals and includes science-based Targets

London, 2017-Jan-26 — /EPR Retail News/ — Kering announced the next phase of its sustainability strategy across its luxury brands today (25 January 2017). With a 360° approach within its own operations and across the entire supply chain over 10 years, Kering is dedicated to continue to reduce its environmental impacts, advocate social welfare inside and outside the Group, and create innovative, game-changing platforms. In doing so, Kering will support the drive towards a low-carbon economy and help shape the future of luxury as sustainable and to operate within the “planetary boundaries” [1].

Kering has already made significant sustainability improvements across its business since committing to become a sustainable Group and is outperforming the luxury sector in reducing its footprint. Furthermore, Kering’s environmental impacts are less than 45% of the global average business based on comparative turnover [2]. Following on from its progressive 2016 Sustainability Targets, Kering has stepped up its sustainability ambitions. Kering has built on the Group’s successes and leveraged the lessons learned along the way in order to evolve these original Targets. As such, the next phase of its sustainability strategy further aligns with its business priorities now and in the future. During a year-long exploratory process, the elaboration of the strategy was a joint effort between Kering, the CEOs of its luxury brands, the brands’ creative directors and their teams, to ensure input of operational relevance and to further integrate sustainability into all brand functions and categories.

“More than ever, I am convinced that sustainability can redefine business value and drive future growth. As business leaders, we all have a crucial role to play and I worked with the CEOs of our luxury Maisons to embed sustainability across our activities while developing this next important phase of our sustainability strategy,” said François-Henri Pinault, chairman and CEO of Kering, “Our strategy outlines how we will redesign our business to continue to thrive and prosper sustainably into the future, while at the same time helping to transform the luxury sector and contributing to meet the significant social and environmental challenges of our generation.”

Underpinning Kering’s vision is the recognition that a company can only become truly sustainable if it goes far beyond the conventional limits of its own direct operations to address the environmental and social impacts across the supply chain. Consequently, the scope of the strategy incorporates the entire supply chain and with a view to embedding sustainability at the very beginning of the design process. Guided by the UN Sustainable Development Goals (SDGs), Kering has also included quantifiable 2025 Targets in the strategy, under the three themes of CARE, COLLABORATE and CREATE.

Further, key milestones will be aimed at during this period in order to ensure that effective progress is being made. Highlights include:

CARE for the planet:

• Use resources within the “planetary boundaries” with a science-based approach in order to reduce carbon emissions from Kering’s business activities by 50% in Scope 1, 2 and 3 [3] of the GHG protocol by 2025.
• Further address all supply chain environmental impacts with a goal to reduce Kering’s Environmental Profit and Loss (EP&L) [4] account by at least 40%, including the remaining carbon emissions [5] and going beyond to also include water use, water and air pollution, waste production and land use changes.
• Create a “Supplier Index of Sustainability” and ensure Kering’s high standards for raw materials and processes are implemented by suppliers at 100% by 2025, which also raises the bar on traceability, animal welfare, chemical use and social welfare.
• Promote sustainable design and minimize the environmental impact of a product at every stage, from sourcing and manufacturing to transportation and consumer use, and create an open-sourced tool to assess products based on Kering’s standards.
• Establish a Materials Innovation Lab (MIL) focused on watches and jewellery, following the success of Kering’s MIL for fabrics and textiles in offering access to sustainable alternatives.
• Expand offsetting commitment to include a new ‘insetting’ approach in order to ensure that actions across the supply chain deliver climate benefits as well as social value.

COLLABORATE with people:

• Support the continuation of craftsmanship traditions and the communities that support them.
• Extend focus across the supply chain and improve community livelihoods where raw materials are sourced.
• Develop an industry-leading performance metric system that will measure achievement of the UN Sustainable Development Goals.
• Leverage current partnerships with leading universities and continue to develop collaborations to identify sustainability solutions.
• Amplify forward-thinking employment practices, including the global parental policy launched on 1 January, a well-being at work policy by 2018, and an employee benefits policy by 2020.
• Achieve gender parity at all levels.
• Aim to be the preferred employer in the luxury sector.

CREATE new business models:

• Invest in disruptive innovations that can transform conventional processes in luxury, and influence the industry.
• Develop new and sustainable solutions for sourcing raw materials, including exploring biotech and promoting a circular economy through turning recycled textiles into new clothing.
• Scale up an internal purchasing platform to have access to high quality, sustainable raw materials.
• Stimulate and enable innovation to translate vision into action through internal governance.
• Establish a Young Leaders Advisory Group for inspired ideas.

“Rethinking luxury is a necessity to adapt to our changing world while responding to the concerns of new generations of luxury clients. We have already made significant improvements over the last years and we will continue to strive for the highest environmental and social standards,” said Marie-Claire Daveu, Chief Sustainability Officer and Head of international institutional affairs of Kering, “It is through catalysing innovation that we will be able to go beyond incremental improvements and implement the transformational changes that are necessary to be truly sustainable in our business and as an industry.  We will continue to open-source our solutions and approaches to support the scaling up of sustainability in the luxury sector, while sharing every 3 years the progress we have made.”

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

[1] Planetary Boundaries is the central concept in an Earth system framework proposed by a group of scientists led by the Stockholm Resilience Centre in 2009. The group proposed a framework of 9 “planetary boundaries” designed to define a “safe operating space for humanity” for the international community, including governments at all levels, international organizations, civil society, the scientific community and the private sector, as a precondition for sustainable development

[2] Refer to May 2015 press release on 2013 Group EP&L results: http://www.kering.com/en/press-releases/kering_open-sources_environmenta…

[3] Emissions from upstream transportation and distribution, business air travel and fuel and energy related emissions in Scope 3

[4] An EP&L analyses the total environmental impacts in a company’s own operations, and across its entire supply chain and then estimates the monetary cost to society of the changes in the environment resulting from these activities

[5] All Scope 3 emissions from purchased goods and services all the way back to raw materials at Tier 4

Press contacts:
Emmanuelle Picard-Deyme
emmanuelle.picard-deyme@kering.com
+33 1 45 64 61 87

Emilie Gargatte
emilie.gargatte@kering.com
+33 1 45 64 61 20

Website
www.kering.com

Social media:
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official
YouTube: KeringGroup 

Source: Kering

Chaumet renews partnership with the César Academy

Chaumet renews partnership with the César Academy

 

Paris, 2017-Jan-23 — /EPR Retail News/ — From Cannes to Hollywood to Paris, Chaumet continues its enduring love story with the silver screen. As part of the “Chaumet and the Cinema” program, the jeweler renewed the partnership with the César Academy that began 13 years ago, inviting the public to share the excitement for the first time with a special themed event, “The Diamond, Star of the Cinema”.

Chaumet, official partner of the César Academy for the past 13 years, has reaffirmed its special relationship with the film world, supporting the 34 young actors and actresses nominated in this year’s “Révelations” category, two of whom will be named Most Promising Young Actress and Young Actor.

The Révélations star in a short film and photos shot each year by a prominent director. After Mathieu César in 2015 and Sonia Sieff in 2016, director Valérie Donzelli was behind the camera to film the “class of 2017”. Her film and photos premiered yesterday in the Salons Chaumet at an event attended by the 34 Révelations, each accompanied by a “Godmother” or “Godfather” from the world of cinema. The film will be screened in movie theaters from January 18-31, as well as on the Web.

For the first time, the Salons Chaumet at 12, place Vendôme were open to the public for an event on the theme “Le Diamant, Star du Cinéma”, featuring director Nicole Garcia and actress Bérénice Béjo. With characteristic brilliance, the Paris jeweler founded in 1780 renewed the tradition of memorable meetings that spotlight the arts and entertainment.

Contact:

LVMH Moët Hennessy – Louis Vuitton
22, avenue Montaigne, 75008 Paris – France
Tel: +33 (0)1 44 13 22 22
Fax: +33 (0)1 44

Source: LVMH

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The LVMH Group’s Swiss watchmaking houses – TAG Heuer, Zenith and Hublot host joint exhibition at the Salon de Genève

The LVMH Group’s Swiss watchmaking houses – TAG Heuer, Zenith and Hublot host joint exhibition at the Salon de Genève

 

Paris, 2017-Jan-19 — /EPR Retail News/ — The LVMH Group’s three Swiss watchmaking houses – TAG Heuer, Zenith and Hublot – are for the first time hosting a joint exhibition during the Salon de Genève, one of the watch industry’s premier events alongside Baselworld. Two months before Baselworld opens, the three watchmakers are unveiling striking new creations for 2017.

In a first for LVMH watchmaking houses, TAG Heuer, Hublot and Zenith have come together in Geneva to present their new creations to watch professionals (retailers, journalists, etc.) and the public, two months ahead of the industry’s showcase event, Baselworld. The three houses are inviting guests to discover their timepieces on a boat moored in front of the Kempinski hotel. The exhibition is open to the public, giving watch lovers a chance to see the latest innovations firsthand. TAG Heuer, Hublot and Zenith are each featuring striking new timepieces.

TAG Heuer

TAG Heuer presents the Aquaracer 300 Meter 43 mm. The 2017 edition has an aluminum bezel, replacing the ceramic version, and a quartz movement. TAG Heuer is also introducing an exciting new version for women with a natural mother-of-pearl dial in blue or black, finished with a ceramic bezel set with diamonds and a satin strap.

In addition, TAG Heuer has updated the iconic Carrera Calibre 16 Chronograph, which is celebrating its tenth anniversary this year. The new version is available in titanium, framed by a black ceramic bezel and a tachymeter scale. The sapphire case back reveals the beautiful mechanics of the automatic movement and the weight, decorated with a Côtes de Genève pattern.

The Swiss manufacture is also unveiling a new version of its signature Chrono model, the Carrera HEUER-01. This men’s chronograph is made entirely in matt black ceramic, updated for a sleek contemporary look.

Hublot

Hublot continues to dress wrists with audacity, introducing six new models in its emblematic Big Bang collection. The Big Bang One Click 39 mm has an oversize interchangeable leather strap, while the Big Bang Broderie Sugar Skull Fluo revisits neon, featuring the finest St. Gallen embroidery in four bright, bold colors: Cobalt Blue, Sunflower, Hot Pink and Malachite Green.

The Maison shakes up traditional watchmaking codes too with the Big Bang MECA-10 Magic Gold, equipped with the new Hublot Manufacture calibre, the HUB1201, and a case made from Magic Gold, the first scratch-resistant gold.

The ingenuous watch manufacture has also conceived a timepiece that makes it simple for travelers to use a GMT complication. The Big Bang Unico GMT instantly updates the second time zone with a pushbutton, eliminating the need to reset all the hands with each change between time zones.

Zenith

The legendary El Primero chronograph by Zenith is now decked out in striking black and white variations.  Available in two versions, the El Primero 36’000 VpH chronograph epitomizes the duality of charm and high mechanical precision. With an intense black ceramic-aluminum case, a three-counter dial and perforated rubber strap, the contrasting twin timepieces are a study in natural balance.

Zenith celebrates its past with the Heritage 146 chronograph, inspired by a 1960s watch and now equipped with an El Primero movement. The new version features a two-counter dial without a date window, a configuration typical of 1960s chronographs. This exclusive edition is available in two dial options: tropical brown or blue sunray with rhodium-coated baton hands.

Contact:

LVMH Moët Hennessy – Louis Vuitton
22, avenue Montaigne, 75008 Paris – France
Tel: +33 (0)1 44 13 22 22
Fax: +33 (0)1 44 13 22 23

Source: LVMH

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Tiffany & Co. announces the appointment of Reed Krakoff as Chief Artistic Officer

NEW YORK, 2017-Jan-18 — /EPR Retail News/ — Tiffany & Co. (NYSE:TIF) today (January 17, 2017 ) announced that Reed Krakoff will join Tiffany in the new position of Chief Artistic Officer, effective February 1. Reed will direct design for TIFFANY & CO. brand jewelry, as well as luxury accessories, and lead the brand’s overarching artistic and design vision with respect to stores, e-commerce, marketing and advertising.

In 2016, Reed served as a creative collaborator for Tiffany with the re-launch of a luxury accessories collection, which the Company anticipates will debut for Holiday 2017.

Reed’s appointment to this new position continues Tiffany’s mission for the past 180 years – to create the most important and beautiful jewelry, accessories and objects for the home – and advances its global commitment to excellence in design, using exemplary materials and craftsmanship.

“Reed’s extraordinary talent and deep understanding of iconic American design, and Tiffany’s defining role in its legacy, make him poised for great success in this new position,” said Frederic Cumenal, chief executive officer of Tiffany & Co. “His expertise and creativity will continue to help build Tiffany as a global house of luxury.”

A three-time CFDA Award winner, Reed is celebrated globally for his contributions to the worlds of fashion, interior design and the arts. Reed formerly served as president and executive creative director of Coach, after holding a senior design role at Ralph Lauren, and most recently helmed his eponymous luxury fashion line of womenswear and accessories.

“I’m honored to join Tiffany as Chief Artistic Officer and fully dedicate my creative focus to this storied American luxury brand,” said Reed Krakoff. “The exceptional opportunity to further Tiffany’s rich creative legacy of design and craftsmanship, and join the incredible talent within Tiffany, is truly inspiring.”

After three-and-a-half years, Francesca Amfitheatrof – who served as Design Director and was responsible for the design of Tiffany & Co. brand jewelry – will leave the Company to pursue other opportunities. She has made important contributions to the portfolio, and Tiffany is deeply grateful for the unique creative perspective she brought to the brand.

Tiffany is the internationally renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit Tiffany.com.

Contact:
Nathan Strauss
646-428-5941
Director, Corporate Communications
nathan.strauss@tiffany.com

Ashley Barrett
Vice President
Global Public Relations
ashley.barrett@tiffany.com

Source: Tiffany & Co.

Tiffany & Co. announces sales results for the holiday period

NEW YORK, 2017-Jan-18 — /EPR Retail News/ — Tiffany & Co. (NYSE:TIF) reported its sales results for the two months ended December 31, 2016 (“holiday period”). Worldwide net sales of $966 million were slightly above $961 million a year ago, with sales growth in Asia-Pacific and Japan largely offset by lower sales in the Americas and Europe; worldwide comparable store sales declined 2%. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see “Non-GAAP Measures”), worldwide net sales rose 1% from the prior year and comparable store sales declined 1%. There were no significant variations in performance among jewelry categories.

Frederic Cumenal, chief executive officer, said, “These overall holiday period sales results were somewhat lower than we had anticipated, but we continue to benefit from a favorable gross margin and prudent expense management. Although we do not anticipate any significant improvement in 2017 to the macroeconomic challenges that we faced this year, we continue to focus on our initiatives to enhance our stores and our customers’ experience, and to add newness to our product assortment, while maintaining effective marketing communications and a well-developed supply chain. We believe executing on these initiatives, which are within our control, will contribute over the long-term to strengthening Tiffany’s competitive position among global luxury brands.”

Net sales by region were as follows:

  • In the Americas, both total sales of $483 million and comparable store sales were 4% below the prior year. On a constant-exchange-rate basis, total sales declined 4% and comparable store sales declined 3%. Management attributed the lower sales to local customer spending, with a decline in U.S. sales exacerbated by a 14% decline at the Company’s Flagship store on Fifth Avenue in New York, which we attribute at least partly to post-election traffic disruptions.
  • In the Asia-Pacific region, total sales increased 7% to $200 million and comparable store sales declined 4%. On a constant-exchange-rate basis, total sales rose 9% and comparable store sales declined 3%. Management noted strong growth in retail sales in China and in wholesale sales in Korea, but softness in most other markets throughout the region.
  • In Japan, total sales rose 16% to $143 million and comparable store sales rose 21%, which management attributed to higher spending by local customers. On a constant-exchange-rate basis, total sales increased 8% and comparable store sales rose 12%. Strong retail sales growth was partly offset by lower wholesale sales.
  • In Europe, total sales of $119 million were 10% below the prior year and comparable store sales declined 11%. On a constant-exchange-rate basis, total sales were equal to the prior year and comparable store sales were 4% below the prior year. Management attributed the sales performance to weak demand across continental Europe tied to domestic and foreign tourist spending, and noted modest growth in local-currency sales in the United Kingdom.
  • Other sales of $20 million rose 33% and comparable store sales declined 7% reflecting increased wholesale sales of diamonds, offset by lower retail sales in the United Arab Emirates (“UAE”).
  • At December 31, 2016, the Company operated 314 stores (125 in the Americas, 86 in Asia-Pacific, 55 in Japan, 43 in Europe, and five in the UAE), versus 307 stores a year ago (125 in the Americas, 81 in Asia-Pacific, 56 in Japan, 40 in Europe, and five in the UAE).

Full Year 2016 Outlook:

For the full 2016 fiscal year, (i) management expects earnings per diluted share to decline by no more than a mid-single-digit percentage on a GAAP basis, as well as on an adjusted basis (which in 2016 excludes a charge of approximately $0.13per diluted share to be recorded in the fourth quarter of 2016 related to the impairment of capitalized costs for the development of a replacement of the Company’s finished goods inventory management system, and, in 2015, excluded loan impairment and certain staffing and occupancy charges – see “Non-GAAP Measures”); and (ii) management continues to expect worldwide net sales declining by a low single-digit percentage from the prior year. These expectations are approximations and are based on the Company’s plans and assumptions, including: (i) worldwide gross retail square footage increasing 3%, net through 11 store openings, 5 relocations and 6 closings; (ii) operating margin below the prior year due to an anticipated increase in gross margin more than offset by SG&A expense growth; (iii) interest and other expenses, net lower than 2015; (iv) an effective income tax rate consistent with the prior year; (v) the U.S. dollar unchanged at current spot rates versus other foreign currencies for the balance of the year; and (vi) weighted average diluted shares outstanding lower than in fiscal 2015. Management also expects for the full 2016 fiscal year: net cash provided by operating activities of more than $575 million and free cash flow (net cash provided by operating activities less capital expenditures – see “Non-GAAP Measures”) of more than $325 million, both of which now include a previously-unplanned and voluntary contribution of $125 million to the Company’s U.S. pension plan. These expectations are approximations and are based on the Company’s plans and assumptions, including: (i) net inventories below the prior year, (ii) capital expenditures of $240 million and (iii) net earnings in line with management’s expectations described above.

Next Scheduled Announcement:

The Company expects to report its fourth quarter and full year results on Friday March 17th before the market opens. To be notified of future announcements, please register at http://investor.tiffany.com (“E-Mail Alerts”).

Tiffany is the internationally-renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit www.tiffany.com or call our shareholder information line at 800-TIF-0110.

Forward-Looking Statements:

The historical trends and results reported in this document should not be considered an indication of future performance. Further, statements contained in this document that are not statements of historical fact, including those that refer to plans, assumptions and expectations for the current fiscal year and future periods, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the statements under “Full Year 2016 Outlook” as well as statements that can be identified by the use of words such as ‘expects,’ ‘projects,’ ‘anticipates,’ ‘assumes,’ ‘forecasts,’ ‘plans,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘pursues,’ ‘continues,’ ‘outlook,’ ‘may,’ ‘will,’ ‘can,’ ‘should’ and variations of such words and similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the Company’s plans, assumptions, expectations, beliefs and objectives with respect to store openings and closings; product introductions; sales; sales growth; sales trends; store traffic; competitive position; retail prices; gross margin; operating margin; expenses; interest and other expenses, net; effective income tax rate; net earnings and net earnings per share; share count; inventories; capital expenditures; cash flow; liquidity; currency translation; macroeconomic conditions; growth opportunities; litigation outcomes and recovery related thereto; the collectability of amounts due under financing arrangements with diamond mining and exploration companies; contributions to Company pension plans; and certain ongoing or planned real estate, product, marketing, retail, customer experience, manufacturing, supply chain, information systems development, upgrades and replacement, and other operational and strategic initiatives.

These forward-looking statements are based upon the current views and plans of management, speak only as of the date on which they are made and are subject to a number of risks and uncertainties, many of which are outside of our control. Actual results could therefore differ materially from the planned, assumed or expected results expressed in, or implied by, these forward-looking statements. While we cannot predict all of the factors that could form the basis of such differences, key factors include, but are not limited to: global macroeconomic and geopolitical developments; changes in interest and foreign currency rates; changes in taxation policies and regulations; shifting tourism trends; regional instability, violence (including terrorist activities), election-related or other political activities or events, and weather conditions that may affect local and tourist consumer spending; changes in consumer confidence, preferences and shopping patterns, as well as our ability to accurately predict and timely respond to such changes; shifts in the Company’s product and geographic sales mix; variations in the cost and availability of diamonds, gemstones and precious metals; changes in our competitive landscape; disruptions impacting the Company’s business and operations; failure to successfully implement or make changes to the Company’s information systems; gains or losses in the trading value of the Company’s stock, which may impact the amount of stock repurchased; and our ability to successfully control costs and execute on, and achieve the expected benefits from, the operational and strategic initiatives referenced above. Developments relating to these and other factors may also warrant changes to the Company’s operating and strategic plans, including with respect to store openings, closings and renovations, capital expenditures, information systems development, inventory management, and continuing execution on, or timing of, the aforementioned initiatives. Such changes could also cause actual results to differ materially from the expected results expressed in, or implied by, the forward-looking statements.

Additional information about potential risks and uncertainties that could affect the Company’s business and financial results is included under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2016 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent quarterly report on Form 10-Q. Readers of these documents should consider the risks, uncertainties and factors outlined above and in the Form 10-K in evaluating, and are cautioned not to place undue reliance on, the forward-looking statements contained herein. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law or regulation.

TIFFANY & CO. AND SUBSIDIARIES
(Unaudited)

NON-GAAP MEASURES

The Company reports information in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). Internally, management also monitors and measures its performance using certain sales and earnings measures that include or exclude amounts, or are subject to adjustments that have the effect of including or excluding amounts, from the most directly comparable GAAP measure (“non-GAAP financial measures”). The Company presents such non-GAAP financial measures in reporting its financial results to provide investors with useful supplemental information that will allow them to evaluate the Company’s operating results using the same measures that management uses to monitor and measure its performance. The Company’s management does not, nor does it suggest that investors should, consider non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. These non-GAAP financial measures presented here may not be comparable to similarly-titled measures used by other companies.

Net Sales

The Company’s reported net sales reflect either a translation-related benefit from strengthening foreign currencies or a detriment from a strengthening U.S. dollar. Internally, management monitors and measures its sales performance on a non-GAAP basis that eliminates the positive or negative effects that result from translating sales made outside the U.S. into U.S. dollars (“constant-exchange-rate basis”). Sales on a constant-exchange-rate basis are calculated by taking the current year’s sales in local currencies and translating them into U.S. dollars using the prior year’s foreign exchange rates. Management believes this constant-exchange-rate basis provides a useful supplemental basis for the assessment of sales performance and of comparability between reporting periods.

Free Cash Flow

Internally, management monitors its cash flow on a non-GAAP basis. Free cash flow is calculated by deducting capital expenditures from net cash provided by operating activities. The ability to generate free cash flow demonstrates how much cash the Company has available for discretionary and non-discretionary purposes after deduction of capital expenditures. The Company’s operations require regular capital expenditures for the opening, renovation and expansion of stores and distribution and manufacturing facilities as well as ongoing investments in information technology. Management believes this provides a useful supplemental basis for assessing the Company’s operating cash flows.

Contact:
Mark L. Aaron
212-230-5301
mark.aaron@tiffany.com

Source: Tiffany & Co.

Nordstrom launches an exclusive Valentine’s Day jewelry capsule collection for SPACE

SEATTLE, 2017-Jan-17 — /EPR Retail News/ — Nordstrom, Inc. is launching an exclusive Valentine’s Day jewelry capsule collection for SPACE, its boutique for emerging and advanced designers curated by Olivia Kim, Vice President of Creative Projects. The collection hits stores Monday, January 16.

Showcasing green gemstones that align with Pantone’s 2017 hue of the year, the collection includes emerald, peridot, tsavorite and tourmaline and offers an assortment of exclusive and one-of-a-kind pieces from WWAKE, Daniela Villegas, Meadowlark, MOCIUN and Anna Sheffield. The collection starts at $99 for a pair of Meadowlark hoop earrings, and ranges to $5,000 for a pair of Anna Sheffield diamond earrings.

NYC-based WWAKE, known for bringing new perspectives to traditional jewelry, used emerald for the first time to design three exclusive, solid gold pieces for the collection: an earring, a necklace and a ring. Other exclusives include the Happy Caterpillar Necklace by Designer Daniela Villegas, made with the one-of-a-kind, tourmaline stone.

Pieces from the Meadowlark Bloom Collection are making their first stop in the United States with the launch. Made exclusively for Nordstrom, the brand also designed the Peridot Star Hoop Earrings, incorporating the peridot stone made from a gem variety of the mineral Olivine.

Caitlin Mociun of MOCIUN designed an exclusive, one-of-a-kind assortment that represents a romantic and sweet color palette, shedding light on a more delicate version of her signature stone cluster compositions and designs.

Designer Anna Sheffield focused most of her energy on ear jewelry for this collection. She used emerald to design a variety of hoops and ear climbers, made with a silver, blackened metal finish to make the green emeralds pop.

Introduced in fall 2015 by Olivia Kim, SPACE features collections from emerging and advanced designers such as Simone Rocha, Vetements, Comme des Garçons Collection, Koché, Undercover, Ellery, Colovos, Phelan, Molly Goddard and more. The shop lives as a standalone boutique within the store’s designer department, and houses cross-category collections of apparel, shoes, handbags, accessories, home goods and fragrance.

SPACE is found in the following Nordstrom stores and online:

  • Downtown Seattle, WA
  • Michigan Avenue, Chicago, IL
  • Pacific Centre, Vancouver, BC
  • San Francisco Centre, CA
  • The Mall at Green Hills, Nashville, TN
  • The Grove, Los Angeles, CA
  • Eaton Centre, Toronto, ON
  • Yorkdale Shopping Centre, Toronto, ON
  • Nordstrom.com/SPACE

ABOUT NORDSTROM

Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 349 stores in 40 states, including 123 full-line stores in the United States, Canada and Puerto Rico; 215 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores. Additionally, customers are served online through Nordstrom.comNordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its seven clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

ABOUT OLIVIA KIM

Olivia Kim joined Nordstrom in February 2013, and currently serves as the Vice President of Creative Projects. In her role, Kim focuses on creating energy, excitement, and inspiration throughout the retailer’s locations through curated partnerships, the Pop-In@Nordstrom series of pop-up shops, an in-store boutique SPACE, a concept shop in collaboration with Nike titled Nordstrom x Nike, and a concept shop at the Seattle flagship store titled Nordstrom Welcomes Hermès. Additionally, in 2016, Kim took on the role of creative director for company’s brand campaigns. The Spring 2016 campaign under her direction was Nordstrom’s first brand campaign in 15 years.

Kim and the Creative Projects team aims to create new, interesting and unique experiences for customers and introduce them to the best up-and-coming brands and new talent. A prominent figure in the fashion industry, prior to joining Nordstrom Olivia was a founding member of and Vice President of Creative at Opening Ceremony where she was responsible for the retailer’s leadership in merchandising and store planning, art direction, and collaborative projects. Kim is a long-time champion of emerging designers, which is evident in her brand selections in SPACE and Pop-In shops (where you might find Brother Vellies sitting next to Rodarte). In 2015, Kim was selected to join the prestigious ANDAM jury, which supports young designers, and has also played an essential role in launching emerging designers such as CFDA nominated brands as Suno, Pamela Love, and Patrik Ervell.

Contact:

NordstromPR@Nordstrom.com
1-877-746-6228

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Nordstrom launches an exclusive Valentine’s Day jewelry capsule collection for SPACE

 

Source: Nordstrom, Inc.

Helzberg Diamonds implements NCR Connected Payments to help with its payments security

Cloud-based solution enhances data protection and facilitates payment management across all locations

Duluth, Ga., 2017-Jan-14 — /EPR Retail News/ — NCR Corporation (NYSE:  NCR), a global leader in omni-channel solutions, announced today (January 12, 2017) that Helzberg Diamonds, one of North America’s leading jewelry retailers, has implemented NCR Connected Payments to help with its payments security. Helzberg is using the cloud-based payment solution to manage its daily operations related to bank card payments across its network of stores.

Helzberg Diamonds selected NCR to provide a flexible, secure payment solution that mitigates payment card theft and fraud risks for their customers. NCR Connected Payments provides data and transmission protection, from PIN pad to payment processor, helping to reduce Helzberg’s exposure to potential payment data theft and fraud. The flexible cloud solution also makes it easy to comply with changing payments regulations and implement changes across all locations from a single center.

“We were looking for an electronic payment solution that allowed us to insulate sensitive card data from our enterprise systems, and provided a level of flexibility to implement changes quickly and easily,” said Jeff Rohr, CIO of Helzberg Diamonds. “NCR Connected Payments met those requirements and now the complexity of payments is handled by NCR.”

NCR Connected Payments is Payment Card Industry Data Security Standard (PCI-DSS) 3.0 and Europay, MasterCard and Visa (EMV) certified, enabling retailers to comply with the latest industry regulations. It also employs point-to-point encryption (P2PE) and tokenization, and provides advanced security monitoring and vulnerability management to grant retailers constant visibility into the health of their complete payment system. As a cloud-based solution, Connected Payments allows retailers to easily comply with evolving payment regulations and standards on an ongoing basis, with NCR managing the process of ongoing updates. It also offers the flexibility for retailers to configure the implementation to their specific requirements, providing access to the latest innovative payment methods without having to apply complex and costly changes to POS and payment infrastructure.

“We are pleased to have been selected by Helzberg Diamonds, a leader in the retail jewelry industry, for implementation of NCR Connected Payments,” said Steven Arthur, Vice President and General Manager, Payments-Security & Cloud Services, NCR. “This implementation helps provide our valued client access to the latest payment options to enhance the shopper experience, while significantly reducing liability and exposure to fraud.”

NCR is leading transformational change across the entire retail ecosystem through its omni-channel software platform, channel integration & transformation and digital enablement. See its portfolios at the National Retail Federation Show (NRF) January 15-17, 2017, Jacob K. Javits Convention Center, New York City Booth #3405.

About Helzberg Diamonds
Helzberg Diamonds®, a retail and online jewelry store focused on customer service, was founded in 1915 and has more than 230 stores nationwide, featuring a wide selection of fine jewelry, including diamond engagement rings and wedding rings, precious gems and watches. Helzberg Diamonds takes pride in its history of offering exceptional value, a superior customer experience and a broad selection of quality jewelry. Helzberg Diamonds is based in North Kansas City, Mo., and is part of the Berkshire Hathaway, Inc. (NYSE symbol BRK/B) family of companies. For the locations nearest you, call 1-800-HELZBERG (800-435-9237) or visit helzberg.com.

About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in omni-channel solutions, turning everyday interactions with businesses into exceptional experiences. With its software, hardware and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.

NCR is headquartered in Duluth, Ga., with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.  All other trademarks or registered trademarks are property of their respective owners.

NCR encourages investors to visit its website, which is updated regularly with financial and other important information about NCR.

Web site: www.ncr.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation

Media Contact:
Tim Henschel
NCR Corporation
770.299.5100
tim.henschel@ncr.com

Source: NCR Corporation

Louis Vuitton to host its first #MAKEAPROMISE day to raise funds for UNICEF’s humanitarian work

Louis Vuitton to host its first #MAKEAPROMISE day to raise funds for UNICEF’s humanitarian work

 

Paris, 2017-Jan-14 — /EPR Retail News/ — One year after the launch of its global partnership with UNICEF, Louis Vuitton is organizing its first #MAKEAPROMISE day today (JANUARY 12, 2017) to raise funds for children in urgent need.

Louis Vuitton is reaffirming its partnership with the United Nations Children’s Fund (UNICEF) announced at the beginning of 2016 to raise funds to support the organization’s humanitarian work. Nearly 250 million children live in countries affected by conflict, natural hazards and epidemics. Since January 2016, the Louis Vuitton for UNICEF partnership has raised $2.5 million to help bring humanitarian support to children in Syria and Nigeria.

To continue its support, Louis Vuitton is today launching the first #MAKEAPROMISE day, an initiative through the Maison’s global network of stores to help provide support for the most vulnerable children. At more than 460 Louis Vuitton stores in over 60 countries worldwide, some 12,000 Louis Vuitton client advisors become special ambassadors of this partnership. During this special day Louis Vuitton will promote sales of the Silver Lockit pendant and bracelet and donate a portion of the proceeds to UNICEF.

Louis Vuitton President and Chief Executive Officer Michael Burke says the #MAKEAPROMISE campaign is a way to “join forces worldwide to raise funds and awareness to support children. We believe in word of mouth and our goal is to reach as many people as possible and make a real difference.”

Louis Vuitton and UNICEF invite everyone to join this campaign by making a direct donation or by purchasing a Silver Lockit and sharing their promise on social networks with #MAKEAPROMISE.

Contact:

LVMH Moët Hennessy – Louis Vuitton
22, avenue Montaigne, 75008 Paris – France
Tel: +33 (0)1 44 13 22 22
Fax: +33 (0)1 44 13 22 23

Source: LVMH

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De Beers Diamond Jewellers presents complete collection of its timeless creations at its new home on Madison Avenue in New York

De Beers Diamond Jewellers presents complete collection of its timeless creations at its new home on Madison Avenue in New York

 

Paris, 2016-Dec-22 — /EPR Retail News/ — De Beers Diamond Jewellers has unveiled its new home on Madison Avenue in New York. Expertise and emotion meet in a space that showcases the House’s collections, inviting visitors to discover “the home of diamonds since 1888”.

De Beers Diamond Jewellers recently inaugurated its new home on Madison Avenue, one of the most desirable addresses in New York. Located in a townhouse in Manhattan’s Upper East Side, the new 200-square-meter space creates a warm, elegant and luminous atmosphere. The décor features etched glass, noble materials and specially designed statement furnishings, echoing the heritage of the House and inviting visitors to discover a truly exceptional experience.

The store presents the complete collection of timeless creations by De Beers Diamond Jewellers. The ground floor is dedicated to high jewellery and exceptional solitaires, while bridal and wedding creations are found in a cozy salon on the first floor. Private rooms have been included to ensure a highly personalized shopping experience in an intimate setting. The bespoke “For you, Forever” service takes the client experience even further, letting clients choose their diamond, select the desired setting and have a diamond engagement ring individually crafted.

At this exquisite address dedicated to the art of jewelry, De Beers Diamond Jewellers shares its passion and expertise with its clients, giving them a chance to look at diamonds with the eyes of an expert. Thanks to exclusive technology, De Beers Iris lets visitors discover the unique beauty of each diamond and fully appreciate the Fire, Life and Brilliance. Expertise meets emotion in this new destination for the most beautiful diamond jewelry.

Contact:

LVMH Moët Hennessy – Louis Vuitton
22, avenue Montaigne, 75008 Paris – France
Tel: +33 (0)1 44 13 22 22
Fax: +33 (0)1 44 13 22 23

Source: LVMH

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Kering enhances its parental policy for all its employees globally

London, 2016-Dec-15 — /EPR Retail News/ — With effect from 1 January 2017, Kering’s parental policy will allow all the Group’s employees, whatever their personal circumstances or location, a minimum of 14 weeks on full pay for maternity and adoption leave and a minimum of five days on full pay for paternity or partner leave.

The luxury Group is thus demonstrating its commitment to professional equality and work-life balance.

From 1 January 2017, Kering’s parental policy will provide a new framework across the Group and its Maisons for more than 38,500 employees, in close to 60 countries.

Every Kering employee with more than a year’s seniority, regardless of their personal circumstances or location, will be entitled to 14 weeks on full pay for maternity and adoption leave, and five days on full pay for paternity and partner leave.

By setting a global minimum standard for maternity and adoption leave, paternity leave and partner leave, Kering is taking an important step forward for the benefit of all its employees. In many countries, aligning adoption leave with maternity leave (14 weeks), whatever the parents’ legal status represents great progress, as does the introduction of five days’ leave for the partner of the mother or adopting parent.

In countries where local legislation provides more favourable parental leave benefits, this will be applied in place of Kering’s parental policy.

The Group’s new parental policy aims to foster a better work-life balance and to promote gender equality, regardless of employees’ personal circumstances, by guaranteeing the same minimum benefits on the birth or adoption of a child, to all Group employees worldwide.

Kering’s managers and human resources teams will be actively involved in implementing this new policy by providing parents with specific support before and after their leave, to ensure that they return to work in the best possible conditions, and benefit from a smooth career progression in the long term.

François-Henri Pinault, chairman and CEO of Kering, commented: “Since our employees are at the core of our business and our inspiration, I am proud to launch a policy that represents a major step forward for parenthood in many parts of the world. This initiative, which is particularly close to my heart, reflects our enduring commitment to promoting equality between men and women throughout their careers, whatever their personal circumstances.”

Béatrice Lazat, Kering’s senior vice president of human resources, added: “This ambitious policy will enable employees of the Group and its companies in almost 60 countries to benefit from a standard framework that promotes a healthy work-life balance. By guaranteeing the same minimum benefits to everyone, we are developing a more sustainable and harmonious working environment and contributing to a shared corporate culture within the Group, which is a source of pride and well-being.”

Press kit available on request

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

Press contacts:
Emilie Gargatte
emilie.gargatte@kering.com
+33 (0)1 45 64 61 20

Astrid Wernert
astrid.wernert@kering.com
+33 (0)1 45 64 61 57

Website
www.kering.com

Social media
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official
YouTube: KeringGroup 

Source: Kering

Tiffany & Co. announces 3Q 2016 financial results

NEW YORK, 2016-Dec-01 — /EPR Retail News/ — Tiffany & Co. (NYSE:TIF) reported that worldwide net sales increased 1% in the three months (“third quarter”) ended October 31, 2016, reflecting mixed results across geographic regions and product categories. Net earnings increased 5% in the third quarter and earnings per diluted share rose 9%.

In the third quarter:

  • Worldwide net sales rose 1% to $949 million and comparable store sales declined 2%. A modest increase in fashion jewelry sales was offset by softness in other product categories. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see “Non-GAAP Measures”), worldwide net sales were unchanged from the prior year and comparable store sales declined 3%.
  • Net earnings increased 5% to $95 million, or $0.76 per diluted share, from $91 million, or $0.70 per diluted share, in the prior year. The earnings growth reflects an improvement in gross margin and, to a lesser extent, lower interest and other expenses, partly offset by a lack of sales leverage on selling, general and administrative expenses.

In the year-to-date (nine months ended October 31):

  • Worldwide net sales of $2.8 billion were 4% below the prior year, and comparable store sales declined 6% due to varying rates of decline in all regions except Japan. On a constant-exchange-rate basis, worldwide net sales and comparable store sales were 4% and 7%, respectively, below the prior year.
  • Net earnings were $288 million, or $2.29 per diluted share, compared with $301 million, or $2.32 per diluted share, in the prior year. Earnings in the current year-to-date included a tax benefit of $0.05 per diluted share in the first quarter related to the settlement of a tax examination. Earnings in the first nine months of the prior year included an impairment charge of $0.05 per diluted share in the second quarter in respect of a loan to a diamond mining company (see “Non-GAAP Measures”).

Frederic Cumenal, chief executive officer, said, “We are encouraged by some early signs of improvement in sales trends, but we clearly need more positive data over time before this can be considered an inflection point. In this recent quarter, we saw a smaller sales decline in the U.S. from earlier this year, while Asia-Pacific results reflected strong growth in mainland China and a relatively smaller decline in Hong Kong. Our business in Japan performed well which we attribute to spending by domestic consumers, but we believe the strengthening of the yen has negatively impacted purchases by Chinese consumers. We also saw relative strength in UK sales, but a continuation of softness on the European continent.”

He added, “This year, we’ve added exciting new designs across our jewelry and watch categories and are pleased with initial customer response. As the global environment continues to reflect economic and other challenges that we believe are continuing to affect customer demand, it is more important than ever that we remain focused on strategies to deliver extraordinary products and experiences to our customers. Over the long-term, our objective is to enhance profitability and productivity through sales growth and prudent expense and inventory management, while further strengthening our competitive position among global luxury brands.”

Net sales by region were as follows:

  • In the Americas, total sales of $417 million in the third quarter were 2% below the prior year, and sales of $1.25 billion in the year-to-date were 7% below the prior year; comparable store sales declined 2% and 7% in the respective periods. On a constant-exchange-rate basis, total sales declined 2% in the third quarter and 6% in the year-to-date; comparable store sales declined 2% and 7%, respectively. Management attributed the sales decline in the quarter to lower spending by U.S. customers which was largely offset by higher spending attributed to foreign tourists primarily from Japan.
  • In the Asia-Pacific region, total sales rose 4% to $247 million in the third quarter and declined 4% to $715 million in the year-to-date; comparable store sales declined 7% and 11%, respectively. On a constant-exchange-rate basis, total sales rose 3% in the third quarter and declined 2% in the year-to-date; comparable store sales declined 7% and 10%, respectively. In the quarter, management noted double-digit sales growth in China, solid retail and wholesale sales growth in Korea and a decelerating rate of sales decline in Hong Kong, as well as continued sales declines in Australia and Singapore.
  • In Japan, sales benefited from the yen strengthening versus the U.S. dollar, with total sales increasing 13% to $150 million in the third quarter and 10% to $419 million in the year-to-date, but were negatively affected by lower wholesale sales; comparable store sales rose 20% and 15%, respectively. However, on a constant-exchange-rate basis, total sales declined 4% in the third quarter and 3% in the year-to-date, reflecting lower wholesale sales, while comparable store sales rose 2% and 1%, respectively. Management noted higher spending attributed to local customers in the quarter, along with lower spending attributed to Chinese tourists in both periods.
  • In Europe, total sales declined 10% to $104 million in the third quarter and 10% to $312 million in the year-to-date; comparable store sales declined 14% and 15%, respectively. On a constant-exchange-rate basis, total sales declined 2% in the third quarter and 6% in the year-to-date; comparable store sales declined 7% and 11%, respectively. Management attributed soft demand across continental Europe, especially in France, to both local customers and foreign tourists, while strong local-currency sales growth in the United Kingdom was primarily attributable to higher foreign tourist spending.
  • Other sales rose 18% to $31 million in the third quarter due to increased wholesale sales of diamonds, and declined 7% to $71 million in the year-to-date as an increase in wholesale sales of diamonds was offset by lower retail sales in the United Arab Emirates (“UAE”). Comparable store sales declined 12% and 19% in the respective periods.
  • Tiffany opened four Company-operated stores in the third quarter and closed two existing locations, all in the Asia-Pacific region. At October 31, 2016, the Company operated 313 stores (125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe, and five in the UAE), versus 305 stores a year ago (125 in the Americas, 79 in Asia-Pacific, 56 in Japan, 40 in Europe, and five in the UAE).

Other highlights:

  • Gross margins (gross profit as a percentage of net sales) of 61.0% in the third quarter and 61.4% in the year-to-date were higher than 60.2% and 59.7%, respectively, in the prior year. The increases were due to lower product input costs, changes in product sales mix and price increases taken in the past year, partly offset by the impact of increased wholesale sales of diamonds.
  • SG&A expenses increased 4% in the third quarter primarily due to increases in store occupancy and depreciation expenses, marketing expenses, and labor and incentive compensation costs. SG&A expenses rose 1% in the year-to-date, primarily reflecting increased store occupancy and depreciation expenses, lower benefit costs and the effect of a loan impairment charge recorded last year.
  • The effective tax rates were 34.6% in the third quarter and 33.0% in the year-to-date, versus 35.5% and 34.8%, respectively, in the prior-year. The decline from last year in the year-to-date effective tax rate reflected the favorable impact of the conclusion of a tax examination in this year’s first quarter.
  • Cash and cash equivalents and short-term investments were $787 million at October 31, 2016, versus $725 million at October 31, 2015. Total debt (short-term and long-term) as a percentage of stockholders’ equity was 38% at October 31, 2016 and 37% at October 31, 2015.
  • Net inventories at October 31, 2016 were 2% lower than at October 31, 2015.
  • Capital expenditures were $157 million and $159 million in the nine months ended October 31, 2016 and 2015.
  • The Company repurchased approximately 455,000 shares of its Common Stock in the third quarter at an average cost of approximately $68 per share, and repurchased approximately 2.8 million shares at an average cost of approximately $65 per share in the year-to-date. At October 31, 2016, approximately $313 million remained available for repurchases under a program that authorizes the repurchase of up to $500 million of the Company’s Common Stock and that expires on January 31, 2019.
  • With respect to the impact of recent election-related activity near the Company’s New York Flagship store, management has noted some adverse effect on traffic in that store and a continuation of sales softness relative to prior year and to the Company’s other U.S. stores this year. That store represented less than 10% of worldwide net sales for the three and nine-month periods ended October 31, 2016, as well as for each quarter in fiscal 2015. The Company cannot provide any assurance that sales in that store will not be negatively affected by this activity in the fourth quarter or in any future period.

Outlook:

For the full 2016 fiscal year, management is maintaining its outlook to expect: (i) worldwide net sales declining by a low single-digit percentage from the prior year and (ii) earnings per diluted share declining by a mid-single-digit percentage from 2015’s adjusted earnings (which excluded loan impairment and certain staffing and occupancy charges – see “Non-GAAP Measures”). These expectations are approximations and are based on the Company’s plans and assumptions, including: (i) worldwide gross retail square footage increasing 3%, net through 11 store openings, 6 relocations and 6 closings; (ii) operating margin below the prior year (excluding the prior year’s charges – see “Non-GAAP Measures”) due to an anticipated increase in gross margin more than offset by SG&A expense growth; (iii) interest and other expenses, net unchanged from 2015; (iv) an effective income tax rate lower than the prior year; (v) the U.S. dollar unchanged at current spot rates versus other foreign currencies for the balance of the year; and (vi) weighted average diluted shares outstanding lower than in fiscal 2015.

Management also expects for the full 2016 fiscal year: (i) net cash provided by operating activities of at least $660 million and (ii) free cash flow (net cash provided by operating activities less capital expenditures – see “Non-GAAP Measures”) of at least $400 million. These expectations are approximations and are based on the Company’s plans and assumptions, including: (i) net inventories unchanged from the prior year, (ii) capital expenditures of $250 million and (iii) net earnings in line with management’s expectations as described above.

Today’s Conference Call:

The Company will conduct a conference call today at 8:30 a.m. (Eastern Time) to review actual results and the outlook. Please click on http://investor.tiffany.com (“Events and Presentations”).

Next Scheduled Announcements:

The Company expects to report its sales results for the two month holiday period ending December 31, 2016 on Tuesday January 17th before the market opens. To be notified of future announcements, please register at http://investor.tiffany.com (“E-Mail Alerts”).

Tiffany is the internationally-renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit www.tiffany.com or call our shareholder information line at 800-TIF-0110.

Forward-Looking Statements:

The historical trends and results reported in this document and on our third quarter earnings call should not be considered an indication of future performance. Further, statements contained in this document and made on such call that are not statements of historical fact, including those that refer to plans, assumptions and expectations for the current fiscal year and future periods, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the statements under “Outlook” as well as statements that can be identified by the use of words such as ‘expects,’ ‘projects,’ ‘anticipates,’ ‘assumes,’ ‘forecasts,’ ‘plans,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘pursues,’ ‘continues,’ ‘outlook,’ ‘may,’ ‘will,’ ‘can,’ ‘should’ and variations of such words and similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the Company’s plans, assumptions, expectations, beliefs and objectives with respect to store openings and closings; product introductions; sales; sales growth; sales trends; store traffic; retail prices; gross margin; operating margin; expenses; interest and other expenses, net; effective income tax rate; net earnings and net earnings per share; share count; inventories; capital expenditures; cash flow; liquidity; currency translation; growth opportunities; litigation outcomes and recovery related thereto; the collectability of amounts due under financing arrangements with diamond mining and exploration companies; and certain ongoing or planned product, marketing, retail, manufacturing, information systems development, upgrades and replacement, and other operational and strategic initiatives.

These forward-looking statements are based upon the current views and plans of management, speak only as of the date on which they are made and are subject to a number of risks and uncertainties, many of which are outside of our control. Actual results could therefore differ materially from the planned, assumed or expected results expressed in, or implied by, these forward-looking statements. While we cannot predict all of the factors that could form the basis of such differences, key factors include, but are not limited to: global macroeconomic and geopolitical developments; changes in interest and foreign currency rates; shifting tourism trends; regional instability, violence (including terrorist activities), election-related or other political activities or events, and weather conditions that may affect local and tourist consumer spending; changes in consumer confidence, preferences and shopping patterns, as well as our ability to accurately predict and timely respond to such changes; shifts in the Company’s product and geographic sales mix; variations in the cost and availability of diamonds, gemstones and precious metals; changes in our competitive landscape; disruptions impacting the Company’s business and operations; failure to successfully implement or make changes to the Company’s information systems; gains or losses in the trading value of the Company’s stock, which may impact the amount of stock repurchased; and our ability to successfully control costs and execute on, and achieve the expected benefits from, the operational and strategic initiatives referenced above. Developments relating to these and other factors may also warrant changes to the Company’s operating and strategic plans, including with respect to store openings, closings and renovations, capital expenditures, information systems development, inventory management, and continuing execution on, or timing of, the aforementioned initiatives. Such changes could also cause actual results to differ materially from the expected results expressed in, or implied by, the forward-looking statements.

Additional information about potential risks and uncertainties that could affect the Company’s business and financial results is included under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2016 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent quarterly report on Form 10-Q. Readers of these documents should consider the risks, uncertainties and factors outlined above and in the Form 10-K in evaluating, and are cautioned not to place undue reliance on, the forward-looking statements contained herein. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law or regulation.

Contact:
Mark L. Aaron
212-230-5301
mark.aaron@tiffany.com

Source: Tiffany & Co.

Tiffany & Co. reports 3Q 2016 results

NEW YORK, 2016-Nov-29 — /EPR Retail News/ — Tiffany & Co. (NYSE:TIF) reported that worldwide net sales increased 1% in the three months (“third quarter”) ended October 31, 2016, reflecting mixed results across geographic regions and product categories. Net earnings increased 5% in the third quarter and earnings per diluted share rose 9%.

In the third quarter:

  • Worldwide net sales rose 1% to $949 million and comparable store sales declined 2%. A modest increase in fashion jewelry sales was offset by softness in other product categories. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see “Non-GAAP Measures”), worldwide net sales were unchanged from the prior year and comparable store sales declined 3%.
  • Net earnings increased 5% to $95 million, or $0.76 per diluted share, from $91 million, or $0.70 per diluted share, in the prior year. The earnings growth reflects an improvement in gross margin and, to a lesser extent, lower interest and other expenses, partly offset by a lack of sales leverage on selling, general and administrative expenses.

In the year-to-date (nine months ended October 31):

  • Worldwide net sales of $2.8 billion were 4% below the prior year, and comparable store sales declined 6% due to varying rates of decline in all regions except Japan. On a constant-exchange-rate basis, worldwide net sales and comparable store sales were 4% and 7%, respectively, below the prior year.
  • Net earnings were $288 million, or $2.29 per diluted share, compared with $301 million, or $2.32 per diluted share, in the prior year. Earnings in the current year-to-date included a tax benefit of $0.05 per diluted share in the first quarter related to the settlement of a tax examination. Earnings in the first nine months of the prior year included an impairment charge of $0.05 per diluted share in the second quarter in respect of a loan to a diamond mining company (see “Non-GAAP Measures”).

Frederic Cumenal, chief executive officer, said, “We are encouraged by some early signs of improvement in sales trends, but we clearly need more positive data over time before this can be considered an inflection point. In this recent quarter, we saw a smaller sales decline in the U.S. from earlier this year, while Asia-Pacific results reflected strong growth in mainland China and a relatively smaller decline in Hong Kong. Our business in Japan performed well which we attribute to spending by domestic consumers, but we believe the strengthening of the yen has negatively impacted purchases by Chinese consumers. We also saw relative strength in UK sales, but a continuation of softness on the European continent.”

He added, “This year, we’ve added exciting new designs across our jewelry and watch categories and are pleased with initial customer response. As the global environment continues to reflect economic and other challenges that we believe are continuing to affect customer demand, it is more important than ever that we remain focused on strategies to deliver extraordinary products and experiences to our customers. Over the long-term, our objective is to enhance profitability and productivity through sales growth and prudent expense and inventory management, while further strengthening our competitive position among global luxury brands.”

Net sales by region were as follows:

  • In the Americas, total sales of $417 million in the third quarter were 2% below the prior year, and sales of $1.25 billion in the year-to-date were 7% below the prior year; comparable store sales declined 2% and 7% in the respective periods. On a constant-exchange-rate basis, total sales declined 2% in the third quarter and 6% in the year-to-date; comparable store sales declined 2% and 7%, respectively. Management attributed the sales decline in the quarter to lower spending by U.S. customers which was largely offset by higher spending attributed to foreign tourists primarily from Japan.
  • In the Asia-Pacific region, total sales rose 4% to $247 million in the third quarter and declined 4% to $715 million in the year-to-date; comparable store sales declined 7% and 11%, respectively. On a constant-exchange-rate basis, total sales rose 3% in the third quarter and declined 2% in the year-to-date; comparable store sales declined 7% and 10%, respectively. In the quarter, management noted double-digit sales growth in China, solid retail and wholesale sales growth in Korea and a decelerating rate of sales decline in Hong Kong, as well as continued sales declines in Australia and Singapore.
  • In Japan, sales benefited from the yen strengthening versus the U.S. dollar, with total sales increasing 13% to $150 million in the third quarter and 10% to $419 million in the year-to-date, but were negatively affected by lower wholesale sales; comparable store sales rose 20% and 15%, respectively. However, on a constant-exchange-rate basis, total sales declined 4% in the third quarter and 3% in the year-to-date, reflecting lower wholesale sales, while comparable store sales rose 2% and 1%, respectively. Management noted higher spending attributed to local customers in the quarter, along with lower spending attributed to Chinese tourists in both periods.
  • In Europe, total sales declined 10% to $104 million in the third quarter and 10% to $312 million in the year-to-date; comparable store sales declined 14% and 15%, respectively. On a constant-exchange-rate basis, total sales declined 2% in the third quarter and 6% in the year-to-date; comparable store sales declined 7% and 11%, respectively. Management attributed soft demand across continental Europe, especially in France, to both local customers and foreign tourists, while strong local-currency sales growth in the United Kingdom was primarily attributable to higher foreign tourist spending.
  • Other sales rose 18% to $31 million in the third quarter due to increased wholesale sales of diamonds, and declined 7% to $71 million in the year-to-date as an increase in wholesale sales of diamonds was offset by lower retail sales in the United Arab Emirates (“UAE”). Comparable store sales declined 12% and 19% in the respective periods.
  • Tiffany opened four Company-operated stores in the third quarter and closed two existing locations, all in the Asia-Pacific region. At October 31, 2016, the Company operated 313 stores (125 in the Americas, 85 in Asia-Pacific, 55 in Japan, 43 in Europe, and five in the UAE), versus 305 stores a year ago (125 in the Americas, 79 in Asia-Pacific, 56 in Japan, 40 in Europe, and five in the UAE).

Other highlights:

  • Gross margins (gross profit as a percentage of net sales) of 61.0% in the third quarter and 61.4% in the year-to-date were higher than 60.2% and 59.7%, respectively, in the prior year. The increases were due to lower product input costs, changes in product sales mix and price increases taken in the past year, partly offset by the impact of increased wholesale sales of diamonds.
  • SG&A expenses increased 4% in the third quarter primarily due to increases in store occupancy and depreciation expenses, marketing expenses, and labor and incentive compensation costs. SG&A expenses rose 1% in the year-to-date, primarily reflecting increased store occupancy and depreciation expenses, lower benefit costs and the effect of a loan impairment charge recorded last year.
  • The effective tax rates were 34.6% in the third quarter and 33.0% in the year-to-date, versus 35.5% and 34.8%, respectively, in the prior-year. The decline from last year in the year-to-date effective tax rate reflected the favorable impact of the conclusion of a tax examination in this year’s first quarter.
  • Cash and cash equivalents and short-term investments were $787 million at October 31, 2016, versus $725 million at October 31, 2015. Total debt (short-term and long-term) as a percentage of stockholders’ equity was 38% at October 31, 2016 and 37% at October 31, 2015.
  • Net inventories at October 31, 2016 were 2% lower than at October 31, 2015.
  • Capital expenditures were $157 million and $159 million in the nine months ended October 31, 2016 and 2015.
  • The Company repurchased approximately 455,000 shares of its Common Stock in the third quarter at an average cost of approximately $68 per share, and repurchased approximately 2.8 million shares at an average cost of approximately $65 per share in the year-to-date. At October 31, 2016, approximately $313 million remained available for repurchases under a program that authorizes the repurchase of up to $500 million of the Company’s Common Stock and that expires on January 31, 2019.
  • With respect to the impact of recent election-related activity near the Company’s New York Flagship store, management has noted some adverse effect on traffic in that store and a continuation of sales softness relative to prior year and to the Company’s other U.S. stores this year. That store represented less than 10% of worldwide net sales for the three and nine-month periods ended October 31, 2016, as well as for each quarter in fiscal 2015. The Company cannot provide any assurance that sales in that store will not be negatively affected by this activity in the fourth quarter or in any future period.

Outlook:

For the full 2016 fiscal year, management is maintaining its outlook to expect: (i) worldwide net sales declining by a low single-digit percentage from the prior year and (ii) earnings per diluted share declining by a mid-single-digit percentage from 2015’s adjusted earnings (which excluded loan impairment and certain staffing and occupancy charges – see “Non-GAAP Measures”). These expectations are approximations and are based on the Company’s plans and assumptions, including: (i) worldwide gross retail square footage increasing 3%, net through 11 store openings, 6 relocations and 6 closings; (ii) operating margin below the prior year (excluding the prior year’s charges – see “Non-GAAP Measures”) due to an anticipated increase in gross margin more than offset by SG&A expense growth; (iii) interest and other expenses, net unchanged from 2015; (iv) an effective income tax rate lower than the prior year; (v) the U.S. dollar unchanged at current spot rates versus other foreign currencies for the balance of the year; and (vi) weighted average diluted shares outstanding lower than in fiscal 2015.

Management also expects for the full 2016 fiscal year: (i) net cash provided by operating activities of at least $660 million and (ii) free cash flow (net cash provided by operating activities less capital expenditures – see “Non-GAAP Measures”) of at least $400 million. These expectations are approximations and are based on the Company’s plans and assumptions, including: (i) net inventories unchanged from the prior year, (ii) capital expenditures of $250 million and (iii) net earnings in line with management’s expectations as described above.

Today’s Conference Call:

The Company will conduct a conference call today at 8:30 a.m. (Eastern Time) to review actual results and the outlook. Please click on http://investor.tiffany.com (“Events and Presentations”).

Next Scheduled Announcements:

The Company expects to report its sales results for the two month holiday period ending December 31, 2016 on Tuesday January 17th before the market opens. To be notified of future announcements, please register at http://investor.tiffany.com (“E-Mail Alerts”).

Tiffany is the internationally-renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit www.tiffany.com or call our shareholder information line at 800-TIF-0110.

Forward-Looking Statements:

The historical trends and results reported in this document and on our third quarter earnings call should not be considered an indication of future performance. Further, statements contained in this document and made on such call that are not statements of historical fact, including those that refer to plans, assumptions and expectations for the current fiscal year and future periods, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the statements under “Outlook” as well as statements that can be identified by the use of words such as ‘expects,’ ‘projects,’ ‘anticipates,’ ‘assumes,’ ‘forecasts,’ ‘plans,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘pursues,’ ‘continues,’ ‘outlook,’ ‘may,’ ‘will,’ ‘can,’ ‘should’ and variations of such words and similar expressions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the Company’s plans, assumptions, expectations, beliefs and objectives with respect to store openings and closings; product introductions; sales; sales growth; sales trends; store traffic; retail prices; gross margin; operating margin; expenses; interest and other expenses, net; effective income tax rate; net earnings and net earnings per share; share count; inventories; capital expenditures; cash flow; liquidity; currency translation; growth opportunities; litigation outcomes and recovery related thereto; the collectability of amounts due under financing arrangements with diamond mining and exploration companies; and certain ongoing or planned product, marketing, retail, manufacturing, information systems development, upgrades and replacement, and other operational and strategic initiatives.

These forward-looking statements are based upon the current views and plans of management, speak only as of the date on which they are made and are subject to a number of risks and uncertainties, many of which are outside of our control. Actual results could therefore differ materially from the planned, assumed or expected results expressed in, or implied by, these forward-looking statements. While we cannot predict all of the factors that could form the basis of such differences, key factors include, but are not limited to: global macroeconomic and geopolitical developments; changes in interest and foreign currency rates; shifting tourism trends; regional instability, violence (including terrorist activities), election-related or other political activities or events, and weather conditions that may affect local and tourist consumer spending; changes in consumer confidence, preferences and shopping patterns, as well as our ability to accurately predict and timely respond to such changes; shifts in the Company’s product and geographic sales mix; variations in the cost and availability of diamonds, gemstones and precious metals; changes in our competitive landscape; disruptions impacting the Company’s business and operations; failure to successfully implement or make changes to the Company’s information systems; gains or losses in the trading value of the Company’s stock, which may impact the amount of stock repurchased; and our ability to successfully control costs and execute on, and achieve the expected benefits from, the operational and strategic initiatives referenced above. Developments relating to these and other factors may also warrant changes to the Company’s operating and strategic plans, including with respect to store openings, closings and renovations, capital expenditures, information systems development, inventory management, and continuing execution on, or timing of, the aforementioned initiatives. Such changes could also cause actual results to differ materially from the expected results expressed in, or implied by, the forward-looking statements.

Additional information about potential risks and uncertainties that could affect the Company’s business and financial results is included under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2016 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent quarterly report on Form 10-Q. Readers of these documents should consider the risks, uncertainties and factors outlined above and in the Form 10-K in evaluating, and are cautioned not to place undue reliance on, the forward-looking statements contained herein. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law or regulation.

Contact:

Mark L. Aaron
212-230-5301
mark.aaron@tiffany.com

Source: Tiffany & Co.

Kering Foundation hosted a special screening of award-winning film Sonita as part of its annual White Ribbon for Women campaign

As part of its annual White Ribbon for Women campaign, to break the silence on violence against women, the Kering Foundation welcomed over 200 personalities from the film, luxury and fashion industries and women’s rights organizations to a special screening of the award-winning film Sonita at BAFTA.

London, 2016-Nov-23 — /EPR Retail News/ — On Monday 21 November, François-Henri Pinault, Salma Hayek Pinault and Stella McCartney welcomed over 200 guests to a special screening of award-winning Sonita at BAFTA in London. The screening was part of the Kering Foundation’s annual White Ribbon for Womencampaign, running from 18 to 27 November 2016 to break the silence on violence against women.

Sonita, directed by Iranian Rokhsareh Ghaemmaghami and distributed by Wave Films, recounts the true story of 14-year-old undocumented refugee and women’s rights activist Sonita Alizadeh. Tracing her journey from Afghanistan to her newfound home in the US, the film sheds light on the reality of forced marriage through the eyes of a young girl who dreams of becoming a famous rapper despite her family’s predefined plan for her future – to sell her into marriage. The film notably won the Grand Jury Prize and Audience Award at the 2016 Sundance Festival.

Among some 200 personalities present at the screening were prominent figures from the film, music and fashion industries such as the film’s director Rokhsareh Ghaemmaghami, Bianca Jagger, Eva Herzigová, Fares & Tania Fares, Bel Powley, James McCartney, Lucie de la Falaise and Tiphaine de Lussy. Representing the artistic directors and top management of Kering’s Maisons were Sarah Burton, Creative director of Alexander McQueen, Emmanuel Gintzburger, CEO of Alexander McQueen and Frederick Lukoff, CEO of Stella McCartney.

In parallel to the screening, this year’s White Ribbon for Women campaign hosted online via #BeHerVoice, features well-known male ambassadors including the French footballer Antoine Griezmann, American surfer and founder of menswear brand Outerknown Kelly Slater, and Chinese actor Yang Yang, who have lent their voices to the Kering Foundation’s campaign, to highlight the fact that violence against women is not just a women’s issue. A series of portraits diffused online between 18 and 25 November see the ambassadors recount the true stories of women who have experienced violence and subsequently received support from the Kering Foundation.

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.
The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

About the Kering Foundation
Launched in 2009, the Kering Corporate Foundation combats Violence Against Women. To enhance its global impact, the Foundation focuses on one cause in each of the following three regions:
–   Sexual Violence in the Americas
–  Harmful Traditional Practices in Western Europe (France, Italy, United-Kingdom)
–  Domestic Violence in Asia
The Kering Foundation supports NGOs’ projects, social entrepreneurs and awareness campaigns while involving the Group’s 38,000 employees.

Press contacts:
Emer Hallahan
emer.hallahan@kering.com
+33 (0)1 45 64 63 70

Astrid Wernert
astrid.wernert@kering.com
+33 (0)1 45 64 61 57

Source: Kering

The Kering Foundation hosts its annual White Ribbon for Women campaign to combat violence against women

London, 2016-Nov-20 — /EPR Retail News/ — The Kering Foundation will host its 5th annual White Ribbon for Women campaign to combat violence against women from 18 to 27 November. This year well-known male ambassadors including French footballer Antoine Griezmann, the American surfer and founder of menswear brand Outerknown Kelly Slater, and Chinese actor Yang Yang will lend their voices to the Kering Foundation’s campaign, to highlight the fact that violence against women is not just a women’s issue. A series of portraits will see the ambassadors recount the true stories of women who have experienced violence and subsequently received support from the Kering Foundation. As part of the White Ribbon for Women’s digital campaign, the portraits will notably be diffused online via the hashtag #BeHerVoice to encourage everyone to break the silence on violence against women.

In tandem, and to mark the 5th edition of White Ribbon for Women, the Kering Foundation will also launch a crowdfunding platform  via #BeHerVoice. From 18 to 27 November users will be able to support a cause of their choice, from a selection of projects run by the Kering Foundation’s partner NGOs to empower women who have experienced violence. Funds raised will go directly to the Kering Foundation’s partner NGOs including It’s On Us in America, HER Fund in Asia, and Fédération Nationale Solidarité Femmes, La Maison des Femmes, Rosa UK and Women’s Aid in Europe.

An in-store campaign run in parallel will also see 230,000 White Ribbon for Women brooches and stickers, designed by Kering Foundation board member Stella McCartney, distributed in over 800 boutiques across 51 countries to customers of Kering luxury brands: Gucci, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, McQ, Boucheron, Qeelin, Pomellato and Dodo.

The White Ribbon for Women campaign was launched by the Kering Foundation in 2012, with board member Stella McCartney designing an exclusive White Ribbon for Women brooch. From its origins the White Ribbon movement is a male-led initiative started by a group of Canadian men in 1991 following the Montreal Massacre, where a male student of École Polytechnique University massacred 14 of his female classmates telling them “you have no right being here (in education).” The movement encourages the promotion of gender equality and a new vision of masculinity in order to bring about a cultural shift to a future without violence against women. Since 1999, the 25 November is recognised by the United Nation’s as the International Day for the Elimination of Violence against Women, with a White Ribbon as its symbol.

François-Henri Pinault, President of the Kering Foundation, and Chairman and CEO of Keringcommented: “At the Kering Foundation we are working alongside non-profits and governments to combat violence against women, but the real challenge is in changing societal behaviors and beliefs. When one considers that 1 in 3 women worldwide experience violence, it is clear that this issue touches us all be it as a society, a corporation or citizen; be it as a man or a woman. With our White Ribbon for Women campaign we hope to break the taboo on this epidemic, by encouraging everyone to join the combat and raise their voices alongside our ambassadors.”

FROM 18 TO 27 NOVEMBER
FOLLOW THE CAMPAIGN ON SOCIAL MEDIA WITH #BeHerVoice
OR ACCESS THE WHITE RIBBON FOR WOMEN CROWDFUNDING PAGE HERE

HIGH-RESOLUTION IMAGES AND VIDEO FILES AVAILABLE ON REQUEST.

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

About the Kering Foundation 
Launched in 2009, the Kering Corporate Foundation combats Violence Against Women. To enhance its global impact, the Foundation focuses on one cause in each of the following three regions:
⁻ Sexual Violence in the Americas
⁻ Harmful Traditional Practices in Western Europe (France, Italy, United-Kingdom)
⁻ Domestic Violence in Asia

The Kering Foundation supports NGOs’ projects, social entrepreneurs and awareness campaigns while involving the Group’s 38,000 employees.

Press contacts:

Emer Hallahan
emer.hallahan@kering.com
+33 1 45 64 63 07

Astrid Wernert
astrid.wernert@kering.com
+33 1 45 64 61 57

Websites
www.keringfoundation.org
www.kering.com 

Social Media
Twitter: @KeringForWomen @KeringGroup
Instagram: @kering_official
Facebook: Kering Group
LinkedIn: Kering

Source: Kering

Tiffany & Co. declared a regular quarterly dividend of $0.45 per share

NEW YORK, 2016-Nov-19 — /EPR Retail News/ — The Board of Directors of Tiffany & Co. (NYSE: TIF) has declared a regular quarterly dividend of $0.45 per share of Common Stock. The dividend will be paid on January 10, 2017 to shareholders of record on December 20, 2016. Future dividends are subject to declaration by the directors.

Tiffany is the internationally-renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit www.tiffany.com or call our shareholder information line at 800-TIF-0110.

Contact:
Mark L. Aaron
212-230-5301
Mark.aaron@tiffany.com

Source: Tiffany & Co.

Winners of 2016 Kering Award for Sustainable Fashion announced

London, 2016-Nov-18 — /EPR Retail News/ — Held at London College of Fashion on Monday 14th November, Kering and Centre for Sustainable Fashion at London College of Fashion, UAL, revealed the winners of the 2016 Kering Award for Sustainable Fashion. The event at LCF gathered over 400 guests including, researchers, journalists, professionals from the fashion industry and students, around the British fashion designer Stella McCartney, guest of honour at the 2016 Kering Talk.

Following an initial brief from Stella McCartney and Brioni, over 400 registrations and ten finalist projects, five students from London College of Fashion were selected as winners of the 2016 Kering Award for Sustainable Fashion: students Irene-Marie Seelig, Iciar Bravo Tomboly, and Ana Pasalic for Stella McCartney; and students Agraj Jain and Elise Comrie for Brioni.

The ten finalist projects together reflected the importance of sustainability and social consciousness to today’s young talent. All students, coming from different academic disciplines and personal backgrounds, showed a deep commitment to fashion and the environment, along with a strong interest to more sustainable practices in business in general. By taking part in the 2016 Kering Award for Sustainable Fashion, they were looking to merge their passions, and illustrate the economic relevance of a more sustainable fashion industry.

The 2016 projects explore sustainability in various ways, including product innovation to reduce fashion’s impact on the planet using new materials (for example mushroom skin, peace or spider silk), alternative assembling methods to increase clothes’ longevity, or the use of new technologies and digital tools to educate the general public and luxury fashion clients to the necessity of a more sustainable development in fashion (conscious consumption, clothes lifecycle, transparency). The majority of contestants designed their projects by rethinking the whole production cycle and value chain in fashion, going from material sourcing to product development and recycling. This echoes Kering’s own commitment to drive luxury fashion toward higher levels of economic, environmental, ethical and social performance.

Grants to support their work and internship opportunities within Stella McCartney and Brioni were offered to winners of the 2016 Kering Award for Sustainable Fashion.

Luxury brands Gucci and Stella McCartney will host next year’s contest.
Credits are included in the files’ names and captions mentioned in the files’ properties

Notes to Editors

Winning projects for Stella McCartney

Winner of the Award for Innovation
Irene-Marie Seelig: Amadou Mushroom Skin Project
“My project further confirms my belief that innovation occurs at the intersection of the arts and sciences where we can collaborate to leave a positive, lasting imprint on society and the environment.”

An MA Fashion Entrepreneurship and Innovation student Irene-Marie Seelig is a Californian native with over a decade of international experience within the fashion industries. She believes in taking a holistic approach to sustainability, relating the health of the environment to that of its inhabitants.

Irene begun researching the wellbeing properties of mushrooms when her mother was diagnosed with lung cancer. It was this idea that informed her project for the Kering Award for Sustainable Fashion: mushroom leather. This innovative material, made from the skin of Amadou Mushrooms, is a renewable, biodegradable and vegetarian leather alternative. Irene tested both the aesthetic and the durability of the material to confirm its viability for the luxury fashion industry.

Winner of the Award for Collaboration

Iciar Bravo Tomboly: Social Ecology Project
“I believe we cannot change our environment without renewing humanity. So we should achieve an integral ecology that focuses not only on environmental and financial issues, but also on social issues.”
MA Fashion Design Management student, Iciar considers herself to be a leader, being at the head of several social organisations and an active volunteer in charities involved in fashion, social development, children education and empowering women. She has developed a global awareness of the industry and worked with suppliers from all around the world.

According to Iciar, human well-being is a main concern for the world and for the achievement of global goals. That is why she has developed a tool that measures and increases the social impact of a company by empowering employees and manufacturers. She has chosen to assess seven areas that are related to the UN Global goals and to Kering social targets, using a women’s perspective.

Winner of the Special Project Award

Ana Pasalic: Uncoloured Colours Project
“Reflecting on my own work made me understand that if I want to change the fashion industry I have to do it right at the beginning, on a business level and on a personal level.
Through the knowledge and the experience she gained during her MA Fashion Futures, Ana understood how she, as a designer, could influence and change the fashion industry, starting with materials. Her aim with this project was to make sure that fashion is going in the right direction: a sustainable direction ensuring a better life for every creature and plant on our planet.

Ana’s project, the “Uncoloured Colours” for Stella McCartney, is inspired by the idea to design and manufacture better materials from less. Dye wastewater from textile factories is becoming one of the substantial sources of severe pollution problems in recent times and has been classified as the most polluting of all the industrial sectors. ‘Uncoloured Colours’ could help save a substantial amount of water and avoid human risk involved in synthetic dyeing processes, through dyeing the master batch solution.

Winning projects for Brioni

Winner of the Award for Innovation
Agraj Jain: Peace Silk Project
“My main motivation for taking part in the award was the hope that the Kering group would actually use my idea in the best commercial and practical way.”
Agraj, a BA Fashion Design Technology in Menswear student, was born and brought up in the city of Agra, in India. Since childhood he has followed the religion of Jainism, which is very attached to sustainability and non-violence. Sustainability has always been important to him and his work, and he has spread awareness of sustainability by conducting an arts & crafts class using recycled materials at an orphanage in his hometown.

According to Agraj, you cannot make beauty out of killing. Using conventional silk requires the cruel process of killing a silk worm when it is still in its cocoon. However, with peace silk – which is not a substitute of silk but a high quality product – the little living being completes its cycle and comes out of the cocoon before the cocoon is used to make silk fabric. Therefore, it allows the silk moth to live and die naturally.

Winner of the Award for Collaboration

Elise Comrie: Tailored Tobacco Project
“At the 2010 New Delhi Renewable Energy and Clean Technology conference I saw the consistent failure of sustainable technology to solve problems more cheaply and reliably addressed by diesel, coal or fossil fuels.”
MA Fashion Futures student, Elise built a sustainable low-cost ‘solar oven’, a luxury push chair and trendy urban composter ‘The Thin Bin’ whilst completing her Bachelor’s in Design at the Nova Scotia College of Art and Design in Halifax, Canada, her native country.

Her proposal for the 2016 Kering Award for Sustainable Fashion was to design a Smoking Jacket dyed from the organically sourced tobacco plant. With a turnover of 90 days to harvest, the sustainably sourced tobacco plant is ideal for the textile industry.

More information on the projects on http://sustainable-fashion.com/projects/lcfxkering/

About London College of Fashion – Centre for Sustainable Fashion
Centre for Sustainable Fashion (CSF) is a Research Centre of the University of the Arts London based at London College of Fashion. Its work explores vital elements of “Better Lives” London College of Fashion’s commitment to using fashion to drive change, build a sustainable future and improve the way we live. Established in 2008 by Dilys Williams, and actively supported and enabled by Head of College Professor Frances Corner OBE, CSF’s starting point was human and ecological resilience as a lens for design in fashion’s artistic and business practices. CSF was devised to question and challenge reactionary fashion cultures, which reflect and re-enforce patterns of excessive consumption and disconnection, to expand fashion’s ability to connect, delight and identify individual and collective values. The CSF has grown to be a diverse community of world leading researchers, designers, educators and communicators with an extensive network that crosses disciplines, generations, cultures and locations, enabling them to: create internationally acclaimed research, set agendas in government, business, and public arenas and pioneer world relevant curriculum.

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP). —-

Press Contacts:
Kering
Emmanuelle Picard-Deyme – emmanuelle.picard-deyme@kering.com
Floriane Geroudet – floriane.geroudet@kering.com
London College of Fashion & Centre for Sustainable Fashion
Melissa Langlands – m.langlands@fashion.arts.ac.uk

Websites
www.kering.com
www.arts.ac.uk/fashion
http://sustainable-fashion.com
www.stellamccartney.com

Social media
Twitter: @KeringGroup, @LCFLondon, @sustfash, @StellaMcCartney
Instagram: @kering_official, @lcflondon_, @stellamccartney
Facebook: Keringgroup, London College of Fashion – Official, Centre for Sustainable Fashion, Stella McCartney
LinkedIn: Kering, London College of Fashion, Stella McCartney

Source: Kering

Chow Tai Fook celebrates the upcoming movie Rogue One: A Star Wars Story with new Star WarsTM Collection

Chow Tai Fook celebrates the upcoming movie Rogue One: A Star Wars Story with new Star WarsTM Collection
Chow Tai Fook celebrates the upcoming movie Rogue One: A Star Wars Story with new Star WarsTM Collection

 

HongKong, 2016-Nov-17 — /EPR Retail News/ — Chow Tai Fook presents the Star WarsTM Collection to celebrate the movie of Rogue One: A Star Wars Story that will hit cinemas soon. The exquisite range of collectible pieces and jewellery will allow fans to revisit all the favourite characters and gear up for the Rebel Alliance’s plan to steal the blueprint of the Death Star for the universal peace in the upcoming movie.

Since it reached the big screen in 1977, Star Wars has fascinated numerous enthusiastic fans worldwide. From movies, dramas, books to merchandise, anything related to the story has been highly sought after. Anticipating the first stand-alone film of the Star Wars saga Rogue One: A Star Wars Story on 15 December, Chow Tai Fook proudly presents the new Star WarsTM Collection that reinterprets the favourite characters, including the Stormtrooper, Darth Vader, C3PO, R2D2, Chewbacca, Millennium Falcon, as well as the signature weapon Lightsaber, as meticulously crafted ornaments and jewellery pieces in pure gold, silver and 18K white gold. Fans can also amp up their looks with a stylish range of charms and pendants featuring the most iconic motifs.
Chow Tai Fook invites highly popular celebrity Helen, To Yu Fung to shoot viral video for Chow Tai Fook Star WarsTM Collection. It is curious how Helen will introduce this collection, please pay attention on Chow Tai Fook’s online platforms from 15, November onwards.
For more details, please visit: https://goo.gl/PnIIqH

Chow Tai Fook Star WarsTM Collection Special Offers
1.Chow Tai Fook Star WarsTM Collection Lucky Draw

From November 15, 2016 to January 15, 2017, customers can enjoy one lucky draw opportunity (per sales receipt) upon any purchase of Chow Tai Fook Star WarsTM Collection product at Chow Tai Fook branches and Chow Tai Fook eShop. Complete the online registration on or before January 15, 2017, the winners will be announced on January 20, 2017 at Chow Tai Fook Promotional Websites, Hong Kong Standard and Sing Tao Daily. Prizes include:


2.Chow Tai Fook Star WarsTM Collection Promotional Offers

From now on, customers can enjoy a free Star Wars tumbler, or redeem one Star Wars Backpack at HK$100 (full redemption proceeds will be donated to the Hong Kong Committee of the UNICEF) for any purchase of Chow Tai Fook Disney Collection product with a minimum of HK$4,000 (including at least one Star Wars product) at selected branches*, the offers will be available while stocks last.

*The promotional offers are available at:

Selected branches Address
3rd Central Branch 39 Queen’s Road Central, Central, H.K.
Times Square Branch B233-B235, Basement 2, Time Square, 1 Matheson Street, Causeway Bay, H.K.
6th Tsim Sha Tsui Branch Shop G02 & UG02, iSQUARE, 63 Nathan Road, Tsim Sha Tsui, Kowloon, H.K.
4th Mong Kok Branch G01-06, Chow Tai Fook Centre, No.580 A-F Nathan Road, Mong Kok, Kowloon, H.K.
1st Sha Tin Branch Shop No.312-313, Level 3, Phase 1, New Town Plaza, Sha Tin, New Territories, H.K.
1st Tuen Mun Branch Shop No. M-1, MTR Level, V city, 83 Tuen Mun Heung Sze Wui Road, Tuen Mun, New Territories, H.K.
2nd Causeway Branch 24-36 Paterson Street, Causeway Bay, H.K.
3rd Causeway Branch 480-482 Hennessy Road, Causeway Bay, H.K.
7th Tsim Sha Tsui Branch Shop K11 G06, 18 Hanoi Road, Tsim Sha Tsui, Kowloon, H.K.
13th Tsim Sha Tsui Branch Shop E to G, G/F, 54-66 Canton Road, Tsim Sha Tsui, Kowloon, H.K.
2nd Mong Kok Branch G23, G/F, Arland Center, 625 Nathan Road, Mong Kok, H.K.
5th Mong Kok Branch Shop No. 6-7, G/F., Bank Centre Mall, 636 Nathan Road, Mong Kok, Kowloon, H.K.
16th Mong Kok Branch Shop M27-28, MTR Floor, MOKO, 193 Prince Edward Road West, Mong Kok, Kowloon, H.K.
Kwun Tong APM Branch (Zone 2) Shop No. C-22 Concourse Level, APM, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, H.K.
Kowloon Bay Branch Shop P37-P38, Telford Plaza, 33 Wai Yip Street, Kowloon Bay, Kowloon, H.K.
Tsing Yi Branch Shop 138-140, Tsing Yi City, 33 Tsing King Road, Tsing Yi, New Territories, H.K.
2nd Tuen Mun Branch Shop 49-53, 1/F, Phase 2, Tuen Mun Town Plaza, New Territories, H.K.

 

3.Chow Tai Fook Star WarsTM Collection – Fight Minute Store Event

From December 10 to 18, 2016 (every Saturday and Sunday), customers in Fight Minute Store Event and complete the designated daily task at selected branches**, they have an opportunity to win: a Chow Tai Fook “Star Wars: The Force Awakens” Special Edition Collectible Gold Card (the daily fastest completion), or valued HK$100 shopping vouchers (daily 2nd-10th fastest completion), the offers will be available while stocks last.
**The special events are available at:

Date Address
December 10 (Sat) 1:00-3:00pm Shop No.312-313, Level 3, Phase 1, New Town Plaza, Sha Tin, New Territories, H.K.
December 10 (Sat) 4:30-6:30pm Shop M27-28, MTR Floor, MOKO, 193 Prince Edward Road West, Mong Kok, Kowloon, H.K.
December 11 (Sun) 1:00-3:00pm Shop No.312-313, Level 3, Phase 1, New Town Plaza, Sha Tin, New Territories, H.K
December 11 (Sun) 4:30-6:30pm Shop M27-28, MTR Floor, MOKO, 193 Prince Edward Road West, Mong Kok, Kowloon, H.K.
December 17 (Sat) 1:00-3:00pm Shop No. C-22 Concourse Level, APM, Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, H.K.
December 17 (Sat) 4:30-6:30pm Shop G02 & UG02, iSQUARE, 63 Nathan Road, Tsim Sha Tsui, Kowloon, H.K.
December 18 (Sun) 1:00-3:00pm Shop G02 & UG02, iSQUARE, 63 Nathan Road, Tsim Sha Tsui, Kowloon, H.K.
December 18 (Sun) 4:30-6:30pm Shop G01, G/F, Laforet Excelsior Plaza, 24-26 East Point Road, Causeway Bay, H.K.

Offer is subject to the terms and conditions. Products / Gifts are available while stocks last.
In case of any dispute, Chow Tai Fook reserves the right of final decision.

Media Enquiries:
media@chowtaifook.com

Source: Chow Tai Fook

###

Signet Jewelers Limited to announce 3Q FY 2017 financial results on Tuesday, November 22, 2016

HAMILTON, Bermuda, 2016-Nov-07 — /EPR Retail News/ — Signet Jewelers Limited (NYSE:SIG), intends to announce its results for the 13 weeks ended October 29, 2016 at approximately 7:00 a.m. ET on Tuesday, November 22, 2016.

On that date there will be a conference call at 8:30 a.m. ET and a simultaneous audio webcast and slide presentation available at www.signetjewelers.com. The slides will be available to be downloaded from the website ahead of the conference call.

The call details are:

Dial-in: +1 647 788 4901
Confirmation Code: 99499993

Investors Contact:
James Grant
VP Investor Relations
1-330-668-5412

Media Contact:
David Bouffard
VP Corporate Affairs
1-330-668-5369

Source: Signet Jewelers Limited

Kering and Parsons School of Design launch new design course to measure environmental impact of students’ creations

London, 2016-Oct-31 — /EPR Retail News/ — Kering and The New School’s Parsons School of Design announced a new collaboration under their long-standing partnership today (27 October 2016), with the launch of a new design curriculum which will leverage the pioneering KERING x PARSONS: EP&L programme pilot and the My EP&L App to measure and better understand the environmental impacts of students’ creations.

As part of their collaboration, Kering is introducing new modules to Parsons Fashion programme and embedding practical lessons in sustainability into the Parsons curriculum. Parsons will offer the Kering modules to students in three senior Systems & Society Thesis sections and two Materiality Thesis sections. Students will have the opportunity to study Kering’s Environmental Profit and Loss (EP&L) methodology, which measures and monetizes the environmental impacts from business’ activities across the entire supply chain. Students will also learn how to integrate sustainability from the very start of the design process by evaluating and comparing various materials’ and understanding how their choices influence the extent of the environmental impacts from sourcing to manufacturing via the My EP&LApp, introduced by Kering. Students’ thesis projects will subsequently be evaluated and scored on both design and sustainability criteria, with the ten top students given unparalleled exposure for their designs in an exclusive Design Exhibition, following the course and hosted by Kering and Parsons.

Piloted as part of the Parsons curriculum, My EP&L App is based on Kering’s EP&L methodology and is an easy way for design students and the fashion industry to visualize the environmental impact of a typical product from raw material extraction through to sales.  Highlighting 4 different items in our wardrobe to select – jackets, shoes, handbags and rings – My EP&L App users can choose the raw materials used (such as cashmere, wool, organic cotton, leather), where these are sourced from and then manufactured. In each category the environmental impacts from carbon emissions, water use, water and air pollution, waste production and land use changes are then analysed from an underlying 5000+ indicators to calculate a product’s final impact.  Furthermore, My EP&L can be used as a comparative tool by allowing users to understand and determine better options in order to ascertain lower impact decisions and ultimately create more sustainable designs.  As an illustration, My EP&L shows that by choosing between a bag made from French leather with the inner lining in Chinese silk and hardware in brass from Chile versus a bag made out of US leather with the inner lining in Chinese linen and hardware in Chinese bamboo there is 4.40€ less EP&L impact from the first product decisions, or 26% environmental savings.

“My EP&L illustrates the power of an Environmental Profit and Loss (EP&L) analysis and will assist fashion designers to easily calculate better options in real time in order to embed sustainability into their products at the very beginning of the design phase,” said Marie-Claire Daveu, Chief Sustainability Officer and Head of International institutional affairs at Kering. “As part of our ongoing commitment to advocate the importance of sustainability with the next generation entering our industry, we are excited to expand our Parsons collaboration with a view to sharing My EP&L with further educational institutions following the pilot.”

“We are excited to collaborate with Kering on this important initiative for our students,” said Burak Cakmak, Dean of Fashion at Parsons School of Design. “Sustainability education is vital for our students, and with Kering’s help, Parsons will be educating the next generation of fashion industry leaders who can create powerful change.”

About Kering
A global Luxury group, Kering develops an ensemble of luxury houses in fashion, leather goods, jewellery and watches: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Boucheron, Dodo, Girard-Perregaux, Pomellato, Qeelin and Ulysse Nardin. Kering is also developing the Sport & Lifestyle brands Puma, Volcom and Cobra. By ‘empowering imagination’, Kering encourages its brands to reach their potential, in the most sustainable manner.

The Group generated revenues of more than €11.5 billion in 2015 and had more than 38,000 employees at year end. The Kering share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

About Parsons School of Design
Parsons is a global leader in design education, with programs that span the disciplines of design and the fine arts. With the launch of its fashion design program in 1906, Parsons is credited with the rise of Seventh Avenue, the epicenter of American fashion. Parsons offers a Bachelor of Fine Arts degree in Fashion Design, Associate degrees in Fashion Design and Fashion Marketing, and a Master of Fine Arts Program in Fashion Design and Society initiated through the support of Parsons alumna Donna Karan. Parsons has educated generations of leading American fashion designers, including Tom Ford, Marc Jacobs, Donna Karan, Isaac Mizrahi, Tracy Reese, Narciso Rodriguez, Anna Sui, Prabal Gurung, Derek Lam, Proenza Schouler, Vena Cava, Alexander Wang, and Jason Wu. For more information, visit www.newschool.edu/parsons.

Press contacts:
Kering
France
Emmanuelle Picard-Deyme
emmanuelle.picard-deyme@kering.com
+ 33 (0)1 45 64 61 87

International
Mich Ahern
mich.ahern@gmail.com
+ 44 (0) 7984 684 454

Parsons
Will Wilbur
wilburw@newschool.edu
212 229 5667 ext. 3990

Website: www.kering.com
Social Media
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official
YouTube: KeringGroup

YouTube: youtube.com/TheNewSchool
Twitter: @TheNewSchool
LinkedIn The New School Parsons
Instagram: @TheNewSchool, @ParsonsSchoolofDesign
Facebook: facebook.com/thenewschool/ facebook.com/parsonsthenewschool/

Source: Kering