Luxury

Tod's appoints Chiara Ferragni member of Board of Directors

Apr 15, 2021 / Italy

This is the latest move of the Italian-based group to reach out to a younger generation. The Tod’s Group has appointed Chiara Ferragni as a member of its Board of Directors

Brands Companies Footwear Italy Luxury Management People

Kurt Geiger to open 9 new stores this week

Apr 14, 2021 / United Kingdom

The UK-based retailer has announced it will open nine new stores this week as non-essential retailers in England are allowed to reopen

Companies Coronavirus - Covid19 Footwear Kurt Geiger Luxury Retail Shoes United Kingdom

Fire destroys Valentino factory

Apr 13, 2021 / Italy

A factory in Bucine where Italian luxury house Valentino produced its popular line of Rockstud shoes was almost completely destroyed in a fire in the beginning of April. No casualties have been reported

Brands Companies Footwear Italy Luxury Shoes

Ferragamo: Leonardo succeeds brother Ferruccio as President

Apr 7, 2021 / Italy

The Italian luxury brand confirmed Micaela le Divelec Lemmi and Michele Norsa will remain, respectively, Managing Director (CEO) and Executive Vice President. Ferruccio Ferragamo, on the other hand, is giving the role of Non-Executive Chairman to his brother Leonardo

Companies Ferragamo Footwear Italy Luxury Management People

Prada: 24% drop in revenue and 200% growth in the online business

Mar 16, 2021 / Italy

Total net sales for the twelve months ended on the 31st of December 2020 totaled 2.39 billion euros, down by 23.6% at constant exchange rates (down by 24.9% at current exchange rates) compared with approximately 3.18 billion euros in 2019

Brands Companies Coronavirus - Covid19 Fashion Footwear Italy Luxury Prada Quarter Results Results

Ferragamo's revenue down by 33.5% in 2020

Mar 15, 2021 / Italy

The Italian luxury house reported sales of 916 million euros in fiscal 2020, down by 33.5%. Salvatore Ferragamo announced it had suffered a net loss of 72 million euros in 2020, in an economic context highly affected by the COVID-19 pandemic

Brands Companies Coronavirus - Covid19 Fashion Ferragamo Italy Luxury Sales Shoes

Vestiaire Collective: financing round backed by Kering and Tiger Global Management

Mar 10, 2021 / France

The second-hand fashion platform announced the completion of a new 178 million euros financing round, backed by global French luxury group Kering and US investment firm Tiger Global Management

Brands Companies Fashion Footwear France Investment Italy Kering Luxury Pre-Owned Second-hand United States

Christian Louboutin sells 24% stake to Ferrari owner

Mar 9, 2021 / France

Holding company Exor and Christian Louboutin announced a partnership whereby Exor will invest 541 million euros to become a 24% shareholder in Christian Louboutin, alongside the founders and will nominate 2 of the 7 members of the Company’s Board of Directors

Acquisitions Brands Companies Fashion Footwear France Louboutin Luxury

Birkenstock sells majority stake to the company behind LVMH

Mar 2, 2021 / Germany

The Germany-based lifestyle brand has reached an agreement to sell a majority stake in Birkenstock Group to L Catterton, the private equity firm, and its affiliates including Financière Agache, the family investment company of Bernard Arnault (owner of LVMH)

Acquisitions Birkenstock Brands Companies Footwear Germany Luxury LVMH Shoes

Asian recovery helps Hermès to limit impact of the crisis in 2020

Feb 23, 2021 / France

The luxury group Hermès will withstand the health crisis in 2020 thanks to the strong recovery in Asia during the second semester, which compensates weak results in other regions, especially in Europe

Brands Companies France Hermès Leather goods Luxury Quarter Results Results

Tod's closes the year with sales down by 30.4%

Feb 19, 2021 / Italy

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

Accessories Brands Companies Coronavirus - Covid19 Fashion Footwear Italy Leather goods Luxury Retail Shoes Tods

Prada with recovery in December to 2019 levels

Feb 16, 2021 / Italy

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

Accessories Brands Companies Footwear Italy Leather Luxury Results

Tapestry: sales fall by 7% in holiday quarter

Feb 5, 2021 / United States

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