2015LVMH Prize Young Designer Award Announced Results

The 2015LVMH Prize Youth Fashion Designer Awards announced the final list of top eight: Arthur Arbesser, Coperni, Craig Green, Faustine Steinmetz, Jacquemus, Marques'Almeida, brand designers and brands.

This is selected from 26 young designers with design talents.

Speaking of this LVMH Prize Youth Fashion Designer Award, it can be regarded as the world's top designer, including the designer of JW, Anderson, Loewe.

The designer Nicolas Ghesqui re, Marc Jacobs, who is Chanel and Fendi design director Karl Lagerfeld,

Design director Phoebe Philo, Dior design director Raf Simons, Givenchy design director Riccardo Tisci, etc.

The final will be held in May 22nd, and the finalists are designed by Frank Gehry.

They will have 10 minutes to show their series to the LVMH star designer jury. The winners will receive a prize of 300 thousand euros and a one year professional guidance from LVMH, the world's largest luxury group.

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In the four quarter ended January 31, 2015, the net loss of J. Crew Group Inc. was US $30 million 600 thousand, which included a $24 million impairment loss and a net profit of 5 million 900 thousand US dollars in the 2013 fiscal year.

In the three quarter, in response to the trend of consumers moving from physical stores to online shopping, the group has made $684 million non cash impairment for its physical stores and J. Crew brands, resulting in a huge loss of 607 million 800 thousand US dollars in the three quarter.

The main reason for the impairment loss is the weak performance of the J. Crew brand women's wear series. Millard "Mickey" Drexler admitted the failure of the category last year after the earnings analysts' conference call.

J. Crew brand sales fell 0.1% in the fourth quarter, down from 621 million 600 thousand euros in the same period to $620 million 700 thousand in the same period last year, while sales in the same store dropped 5%, while the same period increased 3% in the previous year. The annual sales increased slightly from 3.7% to 2 billion 295 million 100 thousand dollars, 2013 in the fiscal year was 2 billion 212 million 700 thousand dollars, and the growth momentum came from men's clothing series. However, it was impossible to prevent women's wear series from dragging down the same store sales by an annual reduction of 1.9%, while the previous year had 3% growth.

Two years ago, consumers and market leaders began to criticize J. Crew, who is only concerned about fashion, and goes far away from the classic "preppy" style, which is famous for its brand name and leisure.

Millard "Mickey" Drexler was also Frank at the meeting. The J. Crew dress was a bit spoiled, and there were too many unpleasant styles and profiles. "I also think that J. Crew dress is not like J. Crew dress," and the promotion and information pmission of the brand has not reached its due level.

He pointed out that the group had noticed the problem of style very early, and had called the design and sales team to make improvements. Some of the results can be seen in the store. "We have made the original Millard," said Drexler, "Mickey", but he said he could not predict whether the customers would buy it.

On the other hand, the group's young vice card Madewell continued strong growth momentum, and the fourth quarter and full year sales rose 33.5% and 35.2% respectively, rising to 63 million 657 thousand US dollars and 245 million 300 thousand US dollars. The fourth quarter and year-on-year sales increased by 14% year-on-year, significantly faster than the previous year, pushing the group's overall sales in the four quarter up 2.8% to 705 million 300 thousand US dollars.

The group plans to add about 20 Madewell this year to continue its rapid growth.

Overall, the annual sales of J. Crew Group Inc. totaled 2 billion 579 million 700 thousand US dollars, up 6.2% from the previous year's US $2 billion 428 million 300 thousand.

The adjusted EBITDA interest tax depreciation amortization dropped to $255 million 200 thousand from $370 million 200 thousand in the previous year, a drop of 31.1%.

Because of the $684 million impairment loss in the three quarter, the net loss in the whole year was as high as 657 million 800 thousand US dollars, and the net profit in the previous year was US $88 million 100 thousand.

Gross margins sharply shrank by 380 basis points to 37.6%, 41.4% in the previous year.