Luxury
Ferragamo hints at turnaround after flat third quarter
Despite its nine-month performance to date, the Italy-based luxury group has hinted at a turnaround following a flat third quarter of net sales, driven mainly by the performance of DTC across regions
Prada Group sales rise in the first nine months
The Italy-based group reported year-on-year net revenue growth of 9% in the first nine months of the year. This was driven by the Miu Miu brand, which saw a 41% year-on-year rise in retail sales during the period
Hermès posts solid nine-month performance
The France-based luxury group posted a solid performance in the first nine months of the year, driven by sustained momentum in the third quarter, particularly in Europe, the Americas and Asia
Giuseppe Marsocci appointed CEO of Giorgio Armani Group
Giuseppe Marsocci, a seasoned Armani fashion group executive, has been appointed as Chief Executive Officer of the company, with immediate effect
Kering reports quarter-on-quarter improvement
The France-based group reported a sequential improvement in its latest quarter, reducing its revenue decline. Gucci also performed slightly better, thanks to stronger momentum in North America and Western Europe
Wales Bonner succeeds Nichanian at the creative helm of Hermès Menswear
Following the announcement of Véronique Nichanian’s departure after 37 years at the luxury group, it was revealed that Grace Wales Bonner would be taking over as Creative Director of Hermès Menswear
Fashion falters as LVMH returns to growth in the third quarter
The France-based luxury group reported 1% year-on-year growth in the third quarter, with improvements across all business segments. However, the fashion & leather goods segment continues to falter
Armani’s will instructs heirs to sell or take brand public
In his will, the late designer Giorgio Armani instructed his heirs to gradually sell the fashion house he founded 50 years ago or seek a market listing. Priority is to be given to LVMH, EssilorLuxottica or L’Oréal
Ferragamo CFO La Tour exits the company
The Italy-based group has announced the departure of its CFO, Pierre La Tour. He will be succeeded on an interim basis by Paolo La Morgia, the group’s current Planning and Control Director
Kering appoints Francesca Bellettini as President and CEO of Gucci
The France-based luxury group has appointed Francesca Bellettini as the new president and CEO of Gucci. She has the task of leading a turnaround for the struggling luxury brand
Strong first half for Golden Goose
Building on its performance in the first quarter, the Italy-based luxury sneaker group ended the first half of the year with strong year-on-year revenue growth of 13%, led by a 19% increase in the DTC channel
Giorgio Armani dies at 91
The Armani Group, founded and led by the iconic Italian fashion designer Giorgio Armani for five decades, has announced his death at the age of 91
Capri Holdings reports encouraging first quarter results
The owner of Michael Kors and Jimmy Choo reported first quarter results that exceeded revenue and profitability expectations, following the removal of Versace from its financial statements
Ferragamo launches action plan amid worsening performance
Ferragamo has reported a weak first half due to a tough consumer environment and difficult wholesale conditions. In response, it has devised an action plan focusing on products, communication and distribution
Portuguese Josefinas celebrates 12 years of female luxury and empowerment
Josefinas, the Portuguese women’s footwear brand that has established itself in the world of luxury as a symbol of female empowerment, is celebrating its 12th anniversary-
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