Luxury
Stella McCartney names new CEO
Amandine Ohayon has been appointed the new CEO of the British premium shoe and ready-to-wear brand. She succeeds Gabriele Maggio, who is leaving after four years at the helm
Farfetch’s owner is reportedly considering taking the company private
The online luxury retailer’s Chief Executive Officer José Neves is reportedly in talks with top shareholders and JP Morgan advisers to delist the company
Gruppo Florence to launch Village of Wonders in 2024
The Italian holding company, which owns 28 suppliers to the luxury goods industry, is planning to launch the Village of Wonders hub in Milan to showcase the skills of its various businesses
Golden Goose on an upward trajectory
The Italian-based luxury sneaker brand posted a 19% increase in revenue in the first nine months of 2023, as compared to the same period of 2022, with solid performances in all geographies
Tod’s delivers solid performance
The Italian-based luxury brand recorded a 14.3% increase in sales in the first nine months of 2023, as compared to the same period of 2022, with all brands registering double-digit growth
Slower demand for luxury impacts Burberry’s full year forecasts
Despite a revenue increase in the first half of its fiscal year, the UK-based luxury group is now less optimistic about its full year forecasts due to a gradual slowdown in luxury demand worldwide
Capri posts results below expectations
The owner of Versace, Michael Kors and Jimmy Choo posted an 8.6% fall in revenue in the second quarter of fiscal 2024, as compared to the same period of last year, will all brands underperforming
Tapestry’s sales growth slows down
The US-based company posted record net sales of 1.51 billion US dollars in the first quarter of fiscal 2024, but a figure only slightly higher than the one recorded a year ago
Prada announces nine months results
The Italian-based luxury group posted a 17% increase in revenue in the first nine months of 2023, as compared to the same period of last year, underpinned by solid retail sales growth in all regions
Ferragamo acquires minority stake in three Greater China joint ventures
The Board of Directors of the luxury group has announced the purchase of the minority interests held by Imaginex Holdings and Imaginex Overseas in the three Greater China joint ventures
Hermès reports solid performance
From January to September 2023, the French-based luxury group’s revenue reached 10.1 billion euros, increasing from the 8.6 billion euros recorded in the same period of last year
Kering posts revenue decline
The French-based luxury group posted a 13% revenue decline in the third quarter of 2023, as compared to the same period of last year, due to weak performances at all of its main Houses
Partnership between Richemont and Farfetch receives antitrust clearance
The European Commission (EC) has “unconditionally” approved Farfetch’s acquisition of a 47.5% stake in Yoox Net-a-Porter. The EC was the last regulatory authority required to give authorisation
Ferragamo posts net sales decline
In the first nine months of 2023, the luxury group posted a net sales decline of 8.3% at current exchange rates or 9.2% at constant exchange rates, as compared to the same period of 2022
Bottega Veneta is launching an academy to preserve craftsmanship
The Kering-owned Italian label is establishing the Accademia Labor et Ingenium, a school that reinforces its commitment to supporting and developing artisanal craftsmanship-
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