WWD

SWAROVSKI may not be putting “7 Rings” on Ariana Grande, but it’s bonding with the American pop icon, singer and actress, who has been named its brand ambassador. Grande’s first appearance in the role will be unveiled at the end of October with Swarovski’s holiday campaign. “Ariana’s charisma and positive energy resonate with Swarovski’s essence of bringing joy to the world and I am thrilled that she is joining us as brand ambassador,” said Giovanna Engelbert, global creative director of Swarovski. “Ariana is a brilliant artist whose creativity shines through her songwriting and vocal performances as well as her personal style. I look forward to engaging in inspiring creative dialogues together.” Read more here : https://lnkd.in/eRF6g8kc

On today's cover: Schulman Signs On - Joshua Schulman on Monday was named CEO of the struggling Burberry and faces a big turnaround task: The brand said retail sales plummeted 22 percent in the first quarter and there is a risk of an operating loss in the first half. For the ranking, see pages 10 to 19. https://lnkd.in/ Photography by Patrick Macleod for WWD.

Burberry is taking drastic action in response to the ongoing slowdown in luxury spending, ousting its chief executive officer Jonathan Akeroyd, replacing him with U.S. retail veteran Josh Schulman, and warning of an operating loss in the first half. In a first quarter trading update on Monday, four days earlier than scheduled, Burberry reported a 22 percent decline in retail revenue to 458 million pounds. Sales were down 20 percent at constant exchange rates.

Elis Kiss, who has been the publication’s fashion features director since March 2019, takes on the lead position.

LVMH helped the Olympic torch wind its way through Paris on Sunday and Monday, when it stopped at many of the French capital’s famous landmarks, as well as key sites owned by the luxury group.⁠ ⁠ LVMH is a premium partner of the Olympic Games, slated to run July 26 to Aug. 11, and the Paralympic Games, from Aug. 28 to Sept. 8. LVMH’s beauty retailer SEPHORA is also a partner of the Olympic Torch relay, which debuted in the southern French city of Marseille on May 8, and offered activations for the public on the relay route, as well as at group locations along the itinerary and at stops.⁠ ⁠ On Sunday at 12:55 p.m. CET, Thierry Henry, among soccer’s greats and the manager of France’s Olympic soccer team, became the first bearer of the Olympic torch in Paris. He took it out of a specially crafted Louis Vuitton trunk, which stood on the Avenue des Champs-Élysées and was opened by two of the house’s artisans. The first torch kiss in the city, minutes later, marked the end of Henry’s run.⁠ ⁠ Read more here: https://lnkd.in/eJ438BgC

From London to Chichester, the country was painted red for England’s soccer match against Spain at the 2024 UEFA European Football Championship (which it ultimately lost). However, at the 2024 Festival of Speed in the countryside, the red was for Cartier's annual Style et Luxe competition, a signature shade for the Richemont-owned brand. See more from the event here: https://lnkd.in/eEnVJt3V

Kering has promoted Ewa M. Abrams to president of its Americas division, effective Aug. 1. Abrams, general counsel of Kering Americas since 2018, succeeds Laurent Claquin following his recent appointment as group chief brand officer. Learn more: https://lnkd.in/eFZ6C7CP

Gucci on Monday will unveil its 2023 Gucci Equilibrium Impact Report, outlining the progress made over the last year to advance its sustainability ambitions. The report “reaffirms our house’s commitment to social and environmental sustainability, which aligns with our dedication to be responsible and accountable in all our actions,” Jean-François Palus, Gucci’s president and chief executive officer, told WWD. “Guided by these principles and a respect for people and our planet, in 2023 we continued to advance on the path we embarked upon years ago, introducing new initiatives and achieving key targets that underscore our commitment to transformative change, while simultaneously generating lasting value for communities and nature.” Learn more here: https://lnkd.in/eCGtARUf

It’s Prime time — and Amazon's making the most of it. But where shoppers and competitors might see the Prime Day event on Tuesday and Wednesday as another mammoth sale in the dog days of summer, Amazon is working on something more. And, as usual, the difference between how retailers throw a sale and how Amazon hits the promotional button illustrates the continuing divide between the web giant and almost everyone else. Learn more here: https://lnkd.in/eaF4khJb

The Grammy Award-winning singer is set to perform on Sept. 1 at the annual fundraiser during the 81st Venice International Film Festival.