Luxury
Tod's closes the year with sales down by 30.4%
In fiscal year 2020, Tod's consolidated sales totaled 637.2 million euros, down by 30.4% from 2019. In the fourth quarter of 2020, sales amounted to 184.5 million euros, down by 22.6%. China is already growing in double digits
Prada with recovery in December to 2019 levels
The Italian luxury group has announced progressive volume recovery in all geographical areas, with marked revenue growth in Asia Pacific. Prada also confirmed a full recovery to 2019 levels in the month of December
Tapestry: sales fall by 7% in holiday quarter
The New York-based house of modern luxury accessories and lifestyle brands reported results for the fiscal second quarter ended on the 26th of December 2020. Tapestry, the owner of Coach, Kate Spade and Stuart Weitzman registered a 7% decline in sales during the last quarter of the year
Rimowa with new CEO
LVMH Moët Hennessy Louis Vuitton has named Hugues Bonnet-Masimbert the new Chairman and Chief Executive Officer of Rimowa
LVMH completes the acquisition of Tiffany & Co.
The luxury group announced that it has completed the acquisition of Tiffany & Co., the global luxury jeweller. The acquisition of this iconic US jeweller will transform LVMH’s Watches & Jewellery division and complement LVMH’s 75 distinguished Maisons
Gucci joins Alibaba's luxury e-commerce site
One of the key brands of the Kering group's portfolio, will open two stores on Alibaba's online trading platform, in a move that underlines the importance of the Chinese market for luxury brands heavily affected by the coronavirus crisis
Farfetch sets 10-year sustainability goals
The online fashion retailer has announced a set of sustainability goals for the next ten years divided in four main areas, ranging from being climate positive to promoting conscious inclusion
Chloé appoints Gabriela Hearst Artistic Director
The Richemont-owned French luxury fashion house announced the appointment of Gabriela Hearst to the position of Artistic Director after making official the departure of Natacha Ramsay-Levi last week
Gucci, Burberry, Prada, Dior and Moncler win the Altagamma Digital Awards 2020
The fourth edition of Altagamma Digital Awards revealed the winners. The distinction is given to Personal Luxury brands that standout for their digital leadership. The 2020 edition was organised in partnership with the National Chamber of Italian Fashion
Longchamp President Philippe Cassegrain dies
The creator of the iconic Le Pliage bag, Longchamp's historic President, was 83 years old and did not resist to complications related to COVID-19
LVMH names Chris de Lapuente new CEO of Selective Retailing
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
COVID-19 pushes luxury industry to its sharpest fall
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
Eurazeo Brands buys Axel Arigato for 56 million euros
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
Burberry with growth in leather goods category
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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