Wanted: amateur by nature, a professional by design

IDOLS is a reality talent search show that unfailingly bags an audience. While its critics always find something to whinge about in their weekly coverage, the fans applaud it. Love it or loathe it, Idols makes for addictive viewing. And every season appears to come with new twists. This year’s big revelation was Unathi Msengana being named a judge in the place of Mara Louw, who had tongues wagging last year about her fake Louis Vuitton jacket and her drunken stupor during a recording of Idols. It was in November that Elvis Blue (real name Jan Hoogendyk) clinched the title for season six and was saluted for splitting the R500 000 prize money with runner-up L’loyd Cele. And now the seventh instalment is moving full steam ahead with auditions under way at the Cape Town International Convention Centre on Saturday. Joining the judging panel of Randall Abrahams, Gareth Cliff and Msengana is R&B artist Danny K, who recently released his fifth album, Across the Line. A fan of the Idols concept of harnessing raw talent and churning out stars, he said: “I think it is a great opportunity for kids and teenagers. “I’m going to be looking for someone who can be nurtured and trained… not a professional. “I wish I had such an opportunity when I began my career – it would have helped to bypass years of struggle.” Although nerves will be par for the course among the hopefuls, the singer advised: “Look, from a creative aspect, you have got to be yourself. To be different is important in the world of music. “Also, you have to work hard. The process is long and it starts with an audition. And once you’ve won, it is simply the beginning in many ways.” Having caught Idols in the past, there are a few songs he is cringing at the thought of hearing again. Danny laughed: “The first one would probably be R Kelly’s I Believe I Can Fly. It is the most clichéd audition song. Also, Ain’t No Sunshine by Bill Withers and Lean On Me.” As for his thoughts on Louw’s replacement, he offered: “Ah, I think she is going to be absolutely fabulous. “I know Unathi personally and professionally. She is not only beautiful, she is talented. And she speaks from an educated perspective.” Cliff added his bit: “I’m looking for someone different. This will be the seventh season and I have ADD. I get very bored very quickly. I’m hoping there will be someone who holds my attention completely in an audition. “We’re finished with looking for people who have great voices and no personality.” Looks as if contestants will have to make a lingering first impression, or they’ll be re-routed to the closest exit. l The other Idols auditions will be held at these venues: Peter Mokaba Stadium, Polokwane, on February 26; Moses Mabhida Stadium, Durban, on March 5; Dobsonville Stadium, Soweto, on March 26; and Montecasino, Joburg, on April 2. tips from previous idols Contestants L’loyd Cele Despite coming second in Idols last year, Cele is making the most of his platform. He is working on his debut album under the guidance of Loyiso Bala and the direction of producer Crighton Goodwill. And that’s not forgetting the gigs he has been doing. His suggestion to South African wannabes is: “If you have a dream of becoming an artist, go for it. Never give up on your goal and make space for being disappointed. You have to take whatever experience you get as a learning curve to become better.”

LVMH Analysts Say Buy Shares on Cheap in Run-Up to Earnings

While Louis Vuitton bags never go on sale, investors may still have a chance to snap up LVMH Moet Hennessy Louis Vuitton SA’s shares at a discount before the company reports earnings tomorrow. The owner of Moet champagne and Tag Heuer watches may say 2010 net income rose 48 percent to a record 2.61 billion euros ($3.6 billion), according to analysts surveyed by Bloomberg. Investors can benefit by buying the stock, which lost 7.4 percent in January amid a sell-off of luxury shares, according to Leopold Authie, an analyst at Exane BNP Paribas. LVMH’s valuation “is very attractive,” said Marc Willaume, an analyst at Raymond James in Paris. He lists LVMH as his top pick and recommends buying it. “So far it is difficult to see a black hole in their portfolio.” LVMH may say sales last year advanced 18 percent to 20.1 billion euros as wealthy clients bought more Givenchy handbags and retailers replenished inventories of Hublot timepieces, the survey shows. Cie. Financiere Richemont SA, Bulgari SpA, Burberry Group Plc and Tod’s SpA all reported sales increases of at least 16 percent in the last three months of 2010 as the industry rebounded from the worst year on record and Asian shoppers lifted spending. The Paris-based company trades at 26 times earnings, while Burberry trades at 46 times and Gucci owner PPR SA at 35. Hermes International SCA, the Kelly bag maker in which LVMH unveiled a stake last year, trades at 44 times earnings. Analyst Ratings Twenty-six of the analysts covering LVMH say investors should buy the stock while one suggests selling. The stock has fallen 6.6 percent in Paris trading this year, exceeding the Bloomberg European Fashion Index’s 5.7 percent slide, after surging 57 percent in 2010. The index, which also includes Hermes and Richemont, advanced 60 percent last year. While January’s dip by European luxury stocks has brought valuations back to “fair and sustainable” levels, the decline in LVMH’s share price creates an “interesting” buying opportunity, according to Davide Vimercati, an analyst at UniCredit in Milan. “LVMH will continue to deliver consistent above-average top-line earnings and growth in the near and medium term, thanks to its balanced geographical exposure and diversified business portfolio,” he wrote Jan. 28. He recommends buying the shares. ‘Bee My Love’ Watches and jewelry may have been the best-performing unit in 2010. Sales at the division, which includes Chaumet “Bee My Love” tiaras, probably rose 26 percent, while operating profit may have almost doubled to 125 million euros, according to Emmanuel Bruley Des Varannes, a Societe Generale analyst. Sales growth at the unit will likely slow in 2011, climbing 10 percent after last year’s rebound, estimates Antoine Belge, an analyst at HSBC. The division’s operating margin may widen 2.1 percentage points, despite increases in gold prices and the value of the Swiss Franc against the euro, more than LVMH’s other businesses, according to Belge. “Price increases will play an important role for Swiss watchmakers and we expect that all the watch companies will increase prices in euros and U.S. dollars in the course of 2011,” Claudia Lenz, an analyst at Vontobel, wrote in a report last month. LVMH’s watch and jewelry operating profit may rise 35 percent this year, compared with 23 percent in champagne and wine, the next best performer, Bruley Des Varannes estimates.

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Report: China to be Top Luxury Buyer by 2020

China is poised to become the world’s largest market for luxury goods by 2020, according to a new report from investment research group CLSA Asia-Pacific Markets. With fatter paychecks and stronger desires to display new wealth, Chinese consumers are building their appetites for designer handbags, watches, and clothing. They’re pushing up profits for high-end retailers, such as Louis Vuitton and Hermes, and are expected to carve out in the next decade a €74 billion, or roughly $101 billion, luxury market by the end of this decade, the report said. To put that in perspective, that’s €24 billion more than what U.S. consumers, who still lead high-end purchases, spent on luxury last year, according to CLSA. It also exceeds last year’s spending in Japan, long known as the world’s main driver of growth in luxury consumption, by more than €50 billion. By 2020, the luxury market worldwide should be worth €385 billion, CSLA says, meaning China would represent nearly twenty percent of the global total. Those numbers help explain why the world’s designers are all flocking from their homelands to put on big fashion shows for China’s rich and famous. So what is it about China that’s driving the boom? One answer, of course, is decades of strong economic growth, which has produced a whole new horde of newly-minted millionaires. The number of Chinese who have built assets of one billion yuan, reached 1,363 last year and that number has exploded since 2000, increasing at an annual rate of 50% to 58%, CLSA says citing the Hurun Research Institute. Appearing ostentatious isn’t a faux pas in China, it’s often the goal. Cash-heavy consumers are eager to appear flashy and are willing to pay premium prices to catch second glances. It’s not uncommon for businessmen to pay 30,000 yuan, or $4,575, for a bottle of wine, the report said. Last October, three bottles of Chateau Lafite’s Rothschild 1869 vintage wine sold at a Sotheby’s auction in Hong Kong each pulled in more than $230,000. Unlike any other luxury market, China’s biggest buyers are men. They’re gobbling up big-ticket items such as watches and leather goods and are giving extravagant gifts to colleagues and business partners. CLSA estimates that 16-17% of Chinese consumers, including women, buy luxury goods as gifts. And it’s not just retailers with shops in China who stand to benefit from the country’s for Hermes and company. More high-end Chinese shoppers are heading overseas, where luxury products are cheaper, spurring more splurge and impulse buys. The uptick in travel is playing out even this Chinese New Year, a time when most families stay close to home. U.K. newspaper the Guardian notes that this year, many Chinese have celebrated the holiday by setting out on luxury shopping sprees overseas. The new frame of mind: Who needs dumplings and fireworks in Beijing when you can have Burberry and Chanel in London?

Victoria Silvstedt wears Hermes Birken to Lexington Show Stockholm Fashion Week

Victoria Silvstedt was spotted earlier today at the Lexington Show during Stockholm Fashion Week in Sweden wearing a classic black Hermes Birkin. The Hermes Birkin is a favorite among celebrities as it is a classic top handle tote which is easy to wear with dressy or casual attire. The Hermes Birken is also a status symbol which is not as easily obtained by the public as handbags by Gucci, Louis Vuitton and Chanel. Victoria Silvstedt is a Swedish model and actress who got her starts as a contestant in the Miss Sweden beauty pageant and represented her country in the 1993 Miss World pageant finishing in the top ten. She has modeled for designers such as Chanel, Christian Dior, Giorgio Armani and Valentino and appeared in Glamour, Maxim and Vanity Fair. In the 1990’s Victoria Silvstedt landed the lucrative Guess modeling contract where she appeared in numerous print ads for the brand. Victoria Silvstedt also rose to fame after she posed for Playboy and became Playmate of the Month in December 1996. Victoria Silvstedt has since been working as an actress and spokesmodel for television, movie and off Broadway shows. Victoria Silvstedt is also a mainstay on the fashion week circuit being spotted at many designer shows throughout the world every season. The Hermes Birkin is a double top handle tote which is favored by celebrities such as Victoria Beckham, Janet Jackson, Nicole Richie and Rachel Zoe. Hermes has a waiting list for the Birkin which averages eighteen months depending upon color and fabrication desired despite the hefty price tag of over $10,000. Inspired by Jane Birkin in the 1960’s, the Hermes Birkin offers clean and classic lines which have helped to make it the iconic handbag that it is today.

Bookkeeper spent big on luxuries

A bookkeeper who stole more than $890,000 from her employers and spent some of it on family holidays, her mother's gambling debts and luxury goods - including a $49,000 handbag - claimed she had lost respect for the company managers. For almost five years, Duvelle Jeffrey, 31, drained the Comunicom Group and its six subsidiary companies of money, starting with $83,000 in 2005 and escalating to $300,000 in 2009. The County Court yesterday heard Jeffrey told police that ''somewhere along the line I realised that they [the company managers] were dodgy as hell and the amount of dodgy things that they asked me to do for them … and I guess I lost respect for them''. Advertisement: Story continues below Prosecutor Amina Bhai told Judge Jane Patrick that Jeffrey, who made unauthorised transfers into three accounts, started stealing because her family needed money ''and then once it started I just couldn't stop''. Ms Bhai said Jeffrey, a Victorian mother of two, admitted: ''I've bought stuff, taken my family on holidays. ''I've helped my parents as well as my sisters and my friends and my cousins. It went towards paying for the nanny, as well as handbags, shoes.'' When police raided her Doncaster home, they found 48 luxury handbags, including Gucci, Louis Vuitton and a $49,000 Hermes brand - and scarves, shoes, perfume and jewellery valued at more than $100,000. Ms Bhai said Jeffrey was responsible for the companies' payment accounts and had transferred money into her accounts or a joint account with her husband by recording ''phantom'' and incorrect payments or duplicating legitimate payments. She said one company director who asked several times about a lack of money in the accounts, accepted her explanation before a Comunicom Group director discovered Jeffrey's illegal transfers. Six victims of her crimes presented impact statements to Judge Patrick after Jeffrey, now of Point Cook, pleaded guilty to seven charges of theft. Defence barrister Greg Barns said Jeffrey, who has repaid $219,000 after selling the family home, had reached ''rock bottom'' but told police she was relieved the ''nightmare is over''. Mr Barns said his client underwent a difficult upbringing in Singapore with an abusive mother whose $170,000 gambling debts Jeffrey later foolishly helped pay with some stolen money. Judge Patrick adjourned the case until next month when a psychiatrist will testify whether Jeffrey's mental health issues were linked to her offending.

LVMH Analysts Say Buy Shares on Cheap in Run-Up to Earnings

While Louis Vuitton bags never go on sale, investors may still have a chance to snap up LVMH Moet Hennessy Louis Vuitton SA’s shares at a discount before the company reports earnings tomorrow. The owner of Moet champagne and Tag Heuer watches may say 2010 net income rose 48 percent to a record 2.61 billion euros ($3.6 billion), according to analysts surveyed by Bloomberg. Investors can benefit by buying the stock, which lost 7.4 percent in January amid a sell-off of luxury shares, according to Leopold Authie, an analyst at Exane BNP Paribas. LVMH’s valuation “is very attractive,” said Marc Willaume, an analyst at Raymond James in Paris. He lists LVMH as his top pick and recommends buying it. “So far it is difficult to see a black hole in their portfolio.” LVMH may say sales last year advanced 18 percent to 20.1 billion euros as wealthy clients bought more Givenchy handbags and retailers replenished inventories of Hublot timepieces, the survey shows. Cie. Financiere Richemont SA, Bulgari SpA, Burberry Group Plc and Tod’s SpA all reported sales increases of at least 16 percent in the last three months of 2010 as the industry rebounded from the worst year on record and Asian shoppers lifted spending. The Paris-based company trades at 26 times earnings, while Burberry trades at 46 times and Gucci owner PPR SA at 35. Hermes International SCA, the Kelly bag maker in which LVMH unveiled a stake last year, trades at 44 times earnings. Analyst Ratings Twenty-six of the analysts covering LVMH say investors should buy the stock while one suggests selling. The stock has fallen 6.6 percent in Paris trading this year, exceeding the Bloomberg European Fashion Index’s 5.7 percent slide, after surging 57 percent in 2010. The index, which also includes Hermes and Richemont, advanced 60 percent last year. While January’s dip by European luxury stocks has brought valuations back to “fair and sustainable” levels, the decline in LVMH’s share price creates an “interesting” buying opportunity, according to Davide Vimercati, an analyst at UniCredit in Milan. “LVMH will continue to deliver consistent above-average top-line earnings and growth in the near and medium term, thanks to its balanced geographical exposure and diversified business portfolio,” he wrote Jan. 28. He recommends buying the shares. ‘Bee My Love’ Watches and jewelry may have been the best-performing unit in 2010. Sales at the division, which includes Chaumet “Bee My Love” tiaras, probably rose 26 percent, while operating profit may have almost doubled to 125 million euros, according to Emmanuel Bruley Des Varannes, a Societe Generale analyst. Sales growth at the unit will likely slow in 2011, climbing 10 percent after last year’s rebound, estimates Antoine Belge, an analyst at HSBC. The division’s operating margin may widen 2.1 percentage points, despite increases in gold prices and the value of the Swiss Franc against the euro, more than LVMH’s other businesses, according to Belge. “Price increases will play an important role for Swiss watchmakers and we expect that all the watch companies will increase prices in euros and U.S. dollars in the course of 2011,” Claudia Lenz, an analyst at Vontobel, wrote in a report last month. LVMH’s watch and jewelry operating profit may rise 35 percent this year, compared with 23 percent in champagne and wine, the next best performer, Bruley Des Varannes estimates. Craftsmen Shortage Sales of fashion and leather goods may have risen 21 percent in 2010, Exane BNP’s Authie estimates. The unit, which accounts for about 40 percent of total revenue, may post growth of 10 percent this year, according to Thomas Chauvet, an analyst at Citigroup in London. The only limit to growth may be a shortage of trained craftsmen at Vuitton, which the company hopes to partly redress by the end of the second quarter after opening a new factory in France in March, according to Belge. Price increases and new products such as the Monogram Empreinte leather accessories line, which Vuitton introduced in the fourth quarter, may help drive sales. The collection, which features tote bags for $2,720, will lift average selling prices and help margins widen to 34 percent in 2011 from 33.5 percent in 2010, Authie estimates. The Vuitton brand has a value of 17.9 times estimated earnings, “which looks good value versus peers on 19.2 times and Hermes on 33.5 times consensus,” Chauvet wrote Jan. 28. LVMH may say wines and spirits sales climbed 19 percent in 2010, while selective retailing rose 18 percent, according to Raymond James’s Willaume. Revenue at the units may rise 9 percent and 7 percent, respectively, in 2011, Chauvet estimates. “Although the comparison base will be tough, LVMH’s general prospects continue to be favorable,” Oddo Securities analyst Francois-Regis Breuil wrote in a note.