Luxury
Kering reports solid performance
The French-based luxury group posted solid growth in the first quarter of 2022. However, COVID-19 restrictions in China since March have weighed down on results, especially Gucci’s
Hermès reports strong sales across all segments
The French-based luxury group reached revenue of 2.77 billion euros in the first quarter of 2022, thanks to the acceleration in all the business lines and sustained growth in leather goods
Digitization and new consumer trends drove growth in 2021
2020 was a challenging year for most companies thanks to the outbreak of the COVID-19 pandemic, which led to severe supply chain disruptions throughout the globe, periods of halting in operations and physical retail, and an increase in raw materials and transportation costs. However, by mid-2021, there were already signs that things were taking a turn for the better, and some companies have managed to equal and even exceed their pre-pandemic performances. We took a look into the full-year 2021 results of some of the largest companies worldwide to observe how they pulled through the challenges brought by the COVID-19 pandemic
Tapestry donates 3 million USD to World Wildlife Fund
The Tapestry Foundation will provide a 3 million US dollars grant to support the development of an innovative system to enhance the traceability of the leather value chain in Brazil
Capri to donate products to aid refugees of the war in Ukraine
The luxury group has announced that it will donate over 1 million euros in essential clothing from Versace, Jimmy Choo and Michael Kors to aid those displaced by the war in Ukraine
Farfetch invests up to 200 million US dollars in Neiman Marcus
The luxury e-commerce platform has announced a global strategic partnership with the US-based omnichannel luxury retailer Neiman Marcus Group (NMG)
Hermès to open two new leather goods workshops by 2026
The two workshops, which will employ 500 people, will allow the French luxury house to increase its production capacity while remaining committed to its artisanal culture
Burberry committed to being the best place to work for women
While committing to becoming the best place to work for women, the luxury group announced its support to the National Literacy Trust and The Prince’s Trust women supporting initiatives
Fashion brands halt sales in Russia
Pressure has been mounting on the Fashion industry to cut off commercial trading with Russia in the aftermath of Russia’s invasion of Ukraine on the 24th of February
Farfetch announces first year of adjusted EBITDA profitability
The luxury e-commerce platform has reported a record Gross Merchandise Value of 4.2 billion US dollars in 2021. Adjusted Ebitda margin rose to a positive 0.1%
Steve Madden announces record revenue
The New York-based designer and marketer of footwear, accessories and apparel has reported revenue of 1.9 billion US dollars in 2021. Revenue in the fourth quarter grew by 63.9%
Hermès posts strong performance in 2021
The French-based luxury group reported an increase in revenue of 42% at constant exchange rates, and 41% at current exchange rates, as compared to 2020, reaching 8.98 billion euros
Tapestry announces record quarterly sales
The New York-based luxury group, owner of Coach, Kate Spade and Stuart Weitzman, improved its outlook for fiscal 2022 after reaching 2.14 billion US dollars revenue in the second quarter
Capri on growing mode
The fashion luxury group has posted revenue and earnings above expectations in the third quarter of fiscal 2022, raising once again its full year outlook-
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