Luxury
Hermès confirms new factory in Auvergne
With this announcement, the brand reaffirms its regional anchor in the Auvergne region. The new workshop will join the Maroquinerie de Sayat to form Hermès seventh leather goods hub. 250 jobs due to be created
Prada reports sales in China far exceeding 2019 levels
Sales by the Italian luxury goods group have rebounded strongly in China since the stores reopened and, to date, have recorded higher levels than last year, as reported to Reuters by Prada's Chief Executive Officer, Patrizio Bertelli
Maison Margiela and Reebok in multi season partnership
The Paris-based luxury house and the sports giant, owned by adidas, have entered into a partnership, which will focus on expanding the limits of footwear, inspired by our collaboration dedicated to experimental and progressive craftsmanship
CEO of Roberto Cavalli to leave company
Gian Giacomo Ferraris, Roberto Cavalli's CEO, is exiting his role at the end of the year. Previously, Ferraris worked for Versace and has joined Roberto Cavalli as CEO in 2016
Nicolas Kirkwood to become independent from LVMH
The British-based footwear designer and the French luxury conglomerate LVMH will go separate paths going forward. LVMH acquired the Nicolas Kirkwood label in 2013
Ferragamo with declining revenue
As of the 30th of June 2020 the Salvatore Ferragamo Group reported total revenue of 377 million euros down by 46.6% at current exchange rates (-46.9% at constant exchange rates), which compares to 705 million euros in the first half of 2019
Tod's: sales down by 43.5%
The impact of the pandemic has heavily affected the sales and results of all the group's brands, in all geographic areas, product categories and on both sales channels
Capri appoints Hannah Colman as Jimmy Choo CEO
Company veteran Hannah Colman has been nominated as Jimmy Coo's new CEO. She started at the brand 24 years ago, as store manager at the brand's first boutique, in London
Ferragamo: revenue down by 46.6%
The group's consolidated revenue was down by 46.6% in the first half of the current year. However, Ferragamo sees encouraging signs as revenue performance in July is increasing in China, Korea and Japan
Prada: sales impacted by the lockdowns
With falling sales across all geographies and after 40% of stores being closed globally from February to May 2020, Patrizio Bertelli, Prada Group CEO said he is confident in growth for the second half of the year
Chanel buys Conceria Gaiera
This new deal will contribute to increasing Chanel’s control on the supply chain of leather. The French luxury brand had already made similar deals in the past
Hermès: revenue dives by 41% in the second quarter
At the end of June, revenue for the semester was down by 24% at current exchange rates. In the second quarter revenue was down by 41%, as Hermès took the hit of the COVID-19 pandemic
Kering with double-digit drop in revenue
The luxury group announced the results for the first half of the year, marked by double digit decline in revenue. Kering named this the toughest period they ever faced
Burberry’s sales down by 45% in first quarter
Comparable sales of the Britain-based luxury brand declined by 45% in the first quarter, easing to -20% in June. Growth in Mainland China and Korea in June was ahead of pre Covid-19 levels, with sales of full-price leather goods up strongly in these regions
Richemont: quarter sales down by 47%
During the quarter under review, the group’s trading and operations were strongly impacted by Covid-19 and sales contracted significantly across all regions, channels and business areas, notwithstanding a 49% increase in China-
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