Luxury
Armani’s will instructs heirs to sell or take brand public
In his will, the late designer Giorgio Armani instructed his heirs to gradually sell the fashion house he founded 50 years ago or seek a market listing. Priority is to be given to LVMH, EssilorLuxottica or L’Oréal
Ferragamo CFO La Tour exits the company
The Italy-based group has announced the departure of its CFO, Pierre La Tour. He will be succeeded on an interim basis by Paolo La Morgia, the group’s current Planning and Control Director
Kering appoints Francesca Bellettini as President and CEO of Gucci
The France-based luxury group has appointed Francesca Bellettini as the new president and CEO of Gucci. She has the task of leading a turnaround for the struggling luxury brand
Strong first half for Golden Goose
Building on its performance in the first quarter, the Italy-based luxury sneaker group ended the first half of the year with strong year-on-year revenue growth of 13%, led by a 19% increase in the DTC channel
Giorgio Armani dies at 91
The Armani Group, founded and led by the iconic Italian fashion designer Giorgio Armani for five decades, has announced his death at the age of 91
Capri Holdings reports encouraging first quarter results
The owner of Michael Kors and Jimmy Choo reported first quarter results that exceeded revenue and profitability expectations, following the removal of Versace from its financial statements
Ferragamo launches action plan amid worsening performance
Ferragamo has reported a weak first half due to a tough consumer environment and difficult wholesale conditions. In response, it has devised an action plan focusing on products, communication and distribution
Portuguese Josefinas celebrates 12 years of female luxury and empowerment
Josefinas, the Portuguese women’s footwear brand that has established itself in the world of luxury as a symbol of female empowerment, is celebrating its 12th anniversary
Prada reports solid first half amid challenging backdrop
The Italy-based luxury group has posted a solid performance in the first half of the year. The Prada brand proved resilient during this period, while Miu Miu continued its accelerated growth trajectory
Hermès maintains growth trajectory
Building on its performance in the first quarter, the France-based luxury group has reported continued growth in the first half of the year, driven by increased year-on-year sales across all regions
Kering’s revenue and profits tumble in the first half
The parent company of Gucci and Yves Saint Laurent continues to struggle. In the first half of the year, revenue declined by 16% and net profit declined by 46%, as compared to the same period last year
LVMH posts decline in first half revenue and profit
In line with its results in the first quarter of the year, the France-based luxury conglomerate ended the first half with a 4% year-on-year decline in revenue and a 22% decline in net profit
Burberry sees a slower revenue drop in the first quarter
The UK-based luxury company reported a 6% decline in revenue in the first quarter of its current fiscal year, but highlighted improvements in comparable retail sales in all regions
Loro Piana placed under court administration in Italy over worker exploitation
The luxury cashmere label owned by LVMH has been placed under judicial administration for a year due to suspected worker exploitation and insufficient oversight within its supply chain
Prada acquires a 10% stake in the Rino Mastrotto leather group
The Italian luxury group will hand over two tanneries to Rino Mastrotto, as well as an unspecified cash investment. This will enable Prada to exert greater control over its production process-
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