Pinterest rose over 28% in New York IPO – target 250 million users

The US social commerce company Pinterest (PINS) listed today in the New York Stock Exchange. The stock rose over 28 % above its IPO price, valuing the company to nearly 13 billion dollars.

The IPOs of Pinterest and the video service company Zoom Video Communications (ZM) showed increased investor confidence after the disapointments related to the stock performance of the ride-hailing company Lyft (LYFT)  IPO  in the early April. According to Bloomberg, Lyft is trading down 19 % from its IPO price

This trend gives more momentum also to the second ride-hailing company Uber to list in May. Uber is expected to raise about 10 billion dollars, which would value the company at 100 billion dollars. Also Airbnb is in the pipeline.

Pinterest is serving its users like a digital platform for inspiring visual arts for fashion, weddings, recipes and more. This San Fransicso-based company is targeting more than 250 million monthly active users.

Business Finance Lifestyle Tech

Kering Group sales up 21,8% to 3648 million euros Q1 2019

The French luxury group Kering Group (KER) reported that the sales of the first quarter were up 21,8 % to 3648 million euros. The sales of the Gucci brand products rose nearly 25 % to 2352 million euros.

The Kering said that all regions performed well, particular Asia-Pasific, which showed 29,6 % increase in the sales. Online sales continued also to grow.

According to the company both carryovers and newness made strong success in the Gucci products. The sales in Asia-Pacific rose 35,3 % and in Japan 15,8 %. The sales of Yves Saint Laurent were 497 million euros, up 21,9 %  and Bottega Veneta 248 million euros, down 0,05 %.

At the corporate governance side the Kering announced that it has appointed Ms Sophie L Helias as lead independent directort to speak about the ESG issues on behalf of the Board, with coordination of the Chairman of the Board Francois-Henri Pinault.

Th company is listed in the Paris Stock Exchange with the market cap of 67,9 billion euros.

Business Lifestyle

Luxury brands helping to rebuild Notre Dame

French luxury brands Kering (KER) and LVMH (LVMH) are helping to rebuild the Paris cathedral Notre Dame.

The reconstruction of the Unesco heritage site will take long time after the fire on Monday. Kering has announced it will donate 100 million euros to the reconstruction and LVMH 200 million euros.

According to the LVMH’s release the company will put all of its teams (creative, architectural and financial) at the disposal of the project.

The Kering share price was down 0,09 % to 531 euros and the LVMH’s up 0,20 % to 342 euros.

Finance Lifestyle

LVMH revenue growth + 16 % 12,5 billion euros Q1 2019

The world largest luxury group,the French LVMH Group (LVMH) published today its first quarter revenues. According to the company info, the total revenue was 12,5 billion euros, with 16 % growth from the year earlier. The company share was up 0,75 % to 329, 75 euros in Paris Stock Exchange. The S&P global luxury index was up 0,48 % to 3341,95 points today.

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Picture: Hublot´s and Ferrari´s co-operation in the BaselWorld 2019

One of the best increases was in the fashion & leather division, which showed a 20 % increase. According to LVMH, the luxury fashion brand Christian Dior performed exceptionally well during the period. In the wines division, the Hennessy cognat increased by 11 %. Perfumes showed an increase of 12 % and watches & jewellery 9 %.  Selective retailing increased by 13 %.

-The innovative products presented by LVMH’s watch brands at the Baselworld Watch & Jewelry Fair were very well received, including Hublot’s Classic Fusion Ferrari GT watch, Bvlgari’s Serpenti Seduttoriand Octo Finissimo Chronograph GMT Automatic watches, TAG Heuer’s connected watch model for golfers, and Zenith’s new Defy Inventor and Defy El Primero 21 Carbon models, the group said in the press release.

The Group has also opened a new brand flagship store in New York, in the ultra modern and high-design area in the Hudson Yards Development in Manhattan. From the online sales, the group said “the online sales grew strongly”.

The Group is arranging a confcall for analysts on Thursday for more information.

Business Finance Lifestyle

The story of Danish Obaku – timeless watches

 

 

The modern and chic design is the trademark of the Danish Obaku timespieces. Obaku, which takes its heritage from the Asian Zen philosophy, is combining total balance in body and mind. This harmony is part of the design with minimalism and simplicity. The Obaku watches integrate Nordic and Asian cultures.

– All Obaku watches are timeless and will stand the test of time. The designs strives to offer affordable luxury using both luxurious materials and unique designs with attention to the details, and representing the sheer beauty of a great design.  It values the truth and calmness, the company says.

The founder of the company,  Danish-born Mr Johannes Arvin, has been taking part in the BaselWorld for a long time, nearly from the beginning.

– I started importing watches to Denmark in 1976 and moved to Hong Kong in 1982, where I already have opened the company Creon Enterprises Ltd in 1980.  The company changed to Comtech Watches Co. Ltd. In 1994 and we have been designing, developing and manufacturing for a great number of watch brands ever since. After losing the production of Skagen watches in 2007, our biggest customer, we decided to start our own designer brand, Obaku, based on the best experiences from the past 30 years, he says to ComteamPUB+.

He met a Chinese woman Catherine Y.L Chan and soon they noticed that they share same passion for watches, traditions and design. The Nordic and Chinese design and culture integrated.

Mr Arvin has seen the ups and downs in the luxury watch industry, but he believes that the BaselWorld will continue.

-It is quite clear to me that BaselWorld will continue. This is an extreamly important event for the industry and its stakeholders. This is rare event with exceptional products and people, he reminds.

Now the Obaku has grown to international brand with representative offices in 70 countries and it is operating internationally. Comtech Watches Co. Ltd. and Obaku Ltd. are selling more than 2 million watches per year. The design of the watches is done in Denmark, but the production is mainly in Asia with its head office based in Hong Kong.

One of the designers is the Danish Christian Mikkelsen, gradutated from the Danish School of Architecture in Aarhus.

-When I design a watch, I think of it as much more than a time keeper. For me a great watch should be a joy to look at, to touch and to wear. It should bring an emotion that speaks to people and brings out an expression of their personality, he says.

One of the new BaselWorld watches is also Kvadrat, which is a square watch with steel, gold or rose.

– Obaku already has a square watch in its collection, but we could not resist creating an entirely new series to see what can be done with this exciting yet traditional shape, he says.

The Kvadrat is a modern and slim watch, thickness is only 4,9 mm, fitted with a sapphire crystal, and according to Obaku this watch may enter the history books as one of the slimmest sqaure watches ever in its price category. The retail price is 169 euros.

 

Hygge- part of Danish life

Hygge is also part of the Danish life and also part of Obaku. It is about your feelings and emotions to warm and focusing in the smallest details in life. Details counts and this is also part of Obaku´s philosophy. It is also about the candles, fire place, family and friends.

Design Lifestyle

Utopia: Trendy and modern pearls

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The Italian design-company Gemmindustria Gaia Srl has created comtemporary pearls jewelleries for ladies. This Italian design is manufactured with high-quality and best natural resources.

 

According to Anna Gaia, director in the family company, they have years of experience of the pearls and how to make the best of this natural gem that is unique and as natural as in the sea. The company imports the pearls from the South Sea, North Australian Coast and also from the French Polyneasea.

-It takes about two pears for the pearl to grow in the oyster. And for the Tahiti pearls the time is little less, about 1,5 years. You know, it is good to remember, that pearls are the only natural gem, that is not manufactured later one. We only wash them when we include them in the jewellery, she says.

The Italian company, now at its 3.generation, has about 20 employees in the Milan office and the turnover is about 8-10 million euros. The majority of its jewelleries are exported to Russia.

-Pearls are becomming trendy because of the fashion trends and pearls are also timeless. We are also expanding our business to China, while the Asian heritage is known for its jewelleries and pearls, she continues.

The company brand Utopia has several collections, some are more classical design and some more for comtemporary, daily use. One of the BaselWorld new designs is the collection called Miro, which includes also ancient & brilliant cut diamonds. It is part of the art deco and trendy collection.

Lifestyle

Carl F. Bucherer: New watches to Heritage collection

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Carl F. Bucherer has integrated the memories from the 1950´s to the modern time. The company has unveiled new watches for the Heritage collection, which was launched last year in New York. According to the company, the Heritage collection is not just a look back at the watchmaker’s own history, but also an ode to the zeitgeist of the 1950s .

It is about the classic design and modern mechanics together. It is also a tribute to both the tradition of the Swiss watchmaker and Carl F. Bucherer’s roots in Lucerne.

– The Heritage BiCompax Annual combines timeless design with contemporary sophistication – a watch born of more than 130 years of style and savoir faire. The Lucerne-based watchmaker has launched this chronograph – featuring a large date display, an annual calendar, and a distinctive BiCompax dial design – in two exclusive versions, each limited to 888 pieces, Bucherer says.

Facts and Figures :  stainless steel/rose gold 00.10803.08.12.01 stainless steel

Movement : Automatic, CFB 1972 caliber, diameter 30.0 mm, height 7.3 mm, 47 jewels, power reserve of 42 hours

Chronograph : minutes and seconds counters, annual calendar, large date, hour, minute, small seconds

Case : Stainless steel/18 k rose gold or stainless steel, double-domed sapphire crystal with anti-reflective coating on both sides, sapphire crystal case back, water- resistant to 30 m  ( 3 atm ), diameter 41 mm, height 14.05 mm

Dial : Rose-and-champagne or silver

Strap : Calfskin strap in cognac brown or embossed rubber in black, stainless steel folding pin buckle

Lifestyle