Luxury

LVMH names Chris de Lapuente new CEO of Selective Retailing

Nov 30, 2020 / France

The French-based luxury giant has named Chris de Lapuente as the new Chairman and CEO of LVMH's division of Selective Retailing, effective from January onwards

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COVID-19 pushes luxury industry to its sharpest fall

Nov 23, 2020 / World

Global sales of luxury goods are expected to fall 23% to 217 billion euros this year, the biggest drop in its history and the first since 2009, due to the consequences of the coronavirus pandemic, consultant Bain & Company estimates

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Eurazeo Brands buys Axel Arigato for 56 million euros

Nov 16, 2020 / Sweden

The global investment company is investing 56 million euros in Axel Arigato, a Swedish premium sneaker, ready-to-wear and accessories brand, to become a majority shareholder, alongside brand's founders Max Svärdh and Albin Johansson

Acquisitions Brands Companies Footwear France Investment Luxury Sweden

Burberry with growth in leather goods category

Nov 16, 2020 / United Kingdom

The UK-based luxury brand has announced a decline of 31% in revenue for the first semester of the current fiscal year. Despite that, Burberry is pleased with the year-on-year growth registered in the leather goods category

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Alibaba and Richemont invest in Farfetch

Nov 6, 2020 / China

Hangzhou-based e-commerce business Alibaba and Swiss-based luxury goods conglomerate Richemont SA will invest 1.1 billion US dollars (0.93 billion euros) in online luxury fashion retailer Farfetch and its new Chinese market operations

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Tapestry with 14% decline in sales

Nov 2, 2020 / United States

Despite the falling sales performance registered in the first quarter of the new fiscal year, Tapestry says it is pleased with the achieved results, which are above the company's expectations

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Hermès returns to growth

Oct 27, 2020 / France

Sales in the third quarter (+7% at constant exchange rates and +4% at current exchange rates) are driven by strong activity in the group's stores (+12% at constant exchange rates), the momentum in Asia and a significant improvement in all other geographical areas

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Kurt Geiger plans 500 job cuts as UK's intends to end tax-free shopping

Oct 26, 2020 / United Kingdom

The luxury footwear and accessories retailer plans to cut 500 jobs, a quarter of its workforce, early next year after the British government announced that it plans to abolish tax-free shopping by the end of the current year

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Kering overcomes expectations despite 4.3% sales decline

Oct 23, 2020 / United States

The luxury group announced consolidated revenue in the third quarter of 2020 of 3 717.7 million euros, down by 4.3% as reported. Double digit growth in North America and Asia-Pacific contributed to the period's performance

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LVMH: fashion and leather goods division with improved revenue

Oct 21, 2020 / France

The luxury group recorded revenue of 30.3 billion euros in the first nine months of 2020, down by 21%. Revenue was down by 7% in the third quarter, reflecting an improvement in trends, with a return to growth in the Fashion & Leather Goods segment

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Ennio Fontana takes on the leadership of Roberto Cavalli

Oct 21, 2020 / Italy

The Italy-based company confirmed the appointment of Ennio Fontana as their new General Manager. Ennio Fontana, who worked for twenty years alongside Philipp Plein, is now taking over the reins of Roberto Cavalli

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COVID-19 intensifies Mulberry's losses

Oct 16, 2020 / United Kingdom

The UK-based handbag and accessories retailer has been hit particularly hard by COVID-19. When announcing last year's results, Mulberry confirmed a 10% decline in revenue

Brands Companies Fashion Luxury Shoes United Kingdom

Pitti Uomo returns to physical format in January

Oct 16, 2020 / Italy

After cancelling all physical events throughout 2020 given the COVID-19 pandemic, Pitti Immagine announced the next edition will return to physical format

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Ralph Toledano re-elected President of the Fédération de la Haute Couture et de la Mode

Oct 14, 2020 / France

The General Assembly of the Chambre Syndicale de la Haute Couture extended the mandate of Ralph Toledano as President of the Chamber for 2 years

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Chanel buys majority stakes in shoemaker Ballin and tannery Gaiera

Oct 9, 2020 / France

Chanel continues to reinforce its network of suppliers as it acquires majority stakes in Italian luxury shoemaker Ballin and tannery Conceria Gaiera Giovanni

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