French billionaire businessman; chairman and CEO of LVMH
LVMH has reported steady half-year sales with 2% organic growth and a 2% rise in overall revenue to €38.6 billion; U.S. demand continues to drive performance in watches, jewelry and fashion, while Europe remains flat amid slowing tourism. The group notes margin stability but faces questions over whether growth is sustainable.
The Metropolitan Museum of Art has cancelled a planned 2027 Costume Institute exhibition honouring John Galliano after donors, Jewish leaders and city officials protested his selection. Galliano has withdrawn the show, apologised for past antisemitic and racist remarks and said he does not want debate about him to distract from the museum; the Met will announce a replacement.
Kylian Mbappé has left Nike after nearly 20 years and has signed with Swiss brand On, which has hired Thierry Henry as director of football. On has given Mbappé equity and will involve him in designing football boots and apparel; the company plans retail football boots in 2027 and will feature Mbappé as a global ambassador.
The White House has released a fact sheet from the Trump-Xi summit, announcing a U.S.-China Super Intelligence dialogue and a bilateral channel for SI incidents. The leaders plan a meeting by November, but sources say progress on AI breakthroughs remains limited and specifics are sparse.
Independent and AP News report on Dior under designer Peter Anderson as fashion month embraces a deliberate, refined looseness. The collection pares back some Dior signatures while highlighting soft tailoring, new drapery-inspired silhouettes and luxury details; Anderson’s 10th Dior outing signals a house at a crossroads between heritage and modernity.