Luxury
LVMH reports stable performance after a difficult year in 2024
Amidst a challenging global economic environment, the France-based luxury group has reported stable 2024 results, highlighting a slight acceleration in growth in the fourth quarter
Strong third quarter for Richemont
The Swiss-based luxury group has reported a strong third quarter, underpinned by double-digit growth in all regions except Asia, where Mainland China remains the weak spot
Macy’s to close 66 stores as part of turnaround strategy
The US department store chain has confirmed the closure of 66 stores as part of its Bold New Chapter strategy, which aims to return the company to sustainable, profitable sales growth
New Generation: Armando Cabral
He appeared as a model at an early age and walked the world’s most important catwalks. Now, he is taking his first steps on the business side, with the opening of his new store on Fifth Avenue in New York. This is Armando Cabral
Saks completes the acquisition of Neiman Marcus
For a total enterprise value of 2.7 billion USD, the luxury retail and real estate company Saks Global now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH
Bottega Veneta appoints Louise Trotter as Creative Director
The British designer will succeed Matthieu Blazy at the creative leadership of the luxury label, parent company Kering and Bottega Veneta announced in a joint release
John Galliano leaves Maison Margiela
The renowned British designer will leave the OTB-owned luxury brand, bringing to an end a successful 10-year collaboration. His next move remains unknown
Kering leads the fashion industry with science-based targets for nature
The French group became the first fashion company to set measurable science-based goals for reducing water use and land footprint, including both its direct operations and supply chain
Stuart Weitzman and Swarovski unite for new holiday collection
Stuart Weitzman partnered with Swarovski Creators Lab to release crystal-adorned Stuart Power Shine pumps, a limited-edition collection combining craftsmanship and luxury fashion
Mulberry cuts jobs amid efforts to turn around the business
The British luxury handbag company has cut dozens of jobs as part of a major shake-up to turn the business around, after a sales plunge of 19% in the six months to December
Global luxury spending to hold steady in 2024
Growth in luxury experiences and shrinking demand for luxury goods highlight a shift in consumer priorities as brands navigate changing market dynamics and regional challenges
Capri reshuffles Michael Kors leadership team
Capri’s CEO John D. Idol will assume the additional role of CEO of Michael Kors, succeeding Cedric Wilmotte. Philippa Newman has been promoted to Chief Product Officer of the brand
Burberry launches new strategic plan amid profit losses
The British luxury company announced first-half results for fiscal 2025. Declined revenue and profitability prompted a strategic reformulation to revitalise the brand and return to sustainable growth
Tapestry and Capri Holdings call off merger plans
The two companies have agreed to call off their merger plans after a US court blocked the deal last October, ending their efforts to create a US luxury giant capable of competing with major European players
Capri Holdings falls sharply as hopes of Tapestry merger fade
The US-based luxury group has reported another weak quarterly performance amid weak global demand for luxury goods. Versace suffered the biggest fall, while Jimmy Choo returned to green-
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