Why Luxury Brands Can’t Resist Cannes

Versace has a long relationship with Dua Lipa, bringing her to the Met Gala in 2019, attending the brand’s September 2021 show in Milan, and dressing her for numerous red carpet appearances. Now, the pair are taking it a step further by unveiling Lipa’s co-designed collection at Cannes on May 23. The collection, which includes everything from swimwear and accessories to evening gowns and jewelry, will be showcased in an intimate setting. a person familiar with the brand’s programs. The fact that the show will be see-now-buy-now shows that it is designed for maximum commercial potential.

Versace’s deepening connection with one of its most famous brand friends is in line with parent Capri Holdings’ plans to push annual sales to $2 billion. After an initial post-pandemic bump, progress on that front stalled until early 2023, with sales falling slightly in the quarter ending in December. In March, the star-studded show in Los Angeles kicked off a new phase with an emphasis on accessories (the brand’s fastest-growing category last quarter). This week’s collection is likely to continue in that direction, both solidifying Versace’s cultural vault and offering plenty of items at various price points for the brand’s fan and artist to purchase.

Cannes plays an increasingly important role as a launching pad for these types of projects. Now fully back to its pre-pandemic glory, and with a string of blockbusters like the latest Indiana Jones, the French Riviera’s concentrated star power and scenic backdrop are irresistible to luxury brands. Kering and L’Oréal Paris are the two main sponsors, and Dior Beauty is staging a pop-up spa from the red carpet. This week, Chopard will also present its first couture line alongside its usual high jewelery presentation, which has been held at Cannes since 2007. Saint Laurent’s recently launched film division premiered its first feature, Pedro Almodovar’s 30-minute A Strange Way of Life. “last week: Expect another round of luxury activations at the Venice Film Festival in September; Armani announced it will be showing couture there last week.

As Golden Goose CEO Silvio Campara told BoF, “culture is the new luxury.” Versace was ahead on that front. With a celebrity-designed collection this week, he’ll find out if he can monetize the concept, too.

What else to watch this week?

Sunday

Conclusions of the G7 summit in Japan

Monday

Golden Goose is launching a series of cultural activations in Venice

Tuesday

The Dua Lipa/Versace collection was shown at Cannes

Chopard showcases couture and high-end jewelry at Cannes

‘Bama Rush’ Documentary About Alabama Sorority Phenomenon Streams on HBO Max

VF Corp., Urban Outfitters report earnings

wednesday

Elf, American Eagle, Abercrombie, Kohl’s report earnings

Great Britain reports April inflation data

thursday

The amfAR Gala is held in Cannes

Ulta, Ralph Lauren, Gap report earnings

Friday

UK reports April retail sales

—Tiffany Epp and Robert Williams contributed to this article

Looking to hear from you next week. Submit tips, suggestions, complaints and compliments brian.baskin@businessoffashion.com.