World Footwear

Luxury

Burberry announces new CEO and warns of loss as first quarter sales slump

Jul 15, 2024 / United Kingdom
The luxury company has warned of an operating loss in the 1H of the year if the slowdown in the luxury sector continues, after reporting a 21% year-on-year fall in sales in the 1Q and announcing the exit of CEO Jonathan Akeroyd

Hundreds of jobs to be axed at Burberry

Jul 8, 2024 / United Kingdom
The UK-based luxury label plans to cut hundreds of jobs as part of a radical cost-cutting programme intended to bolster falling profits, the Telegraph reports

Saks Fifth Avenue owner to acquire Neiman Marcus

Jul 5, 2024 / United States
HBC, the parent company of Saks Fifth Avenue, has signed a definitive agreement to acquire the Neiman Marcus Group, owner of Neiman Marcus and Bergdorf Goodman, in a deal valued at 2.65 billion USD

Golden Goose postpones IPO

Jun 20, 2024 / Italy
Permira-backed luxury sneaker company Golden Goose has postponed its IPO due to a climate of political uncertainty in Europe. The shares were due to start trading next Friday

Golden Goose valued at up to 1.86 billion euros for IPO

Jun 14, 2024 / Italy
The Italian luxury sneaker company is targeting a market capitalisation of up to 1.86 billion euros in its initial public offering on the Milan stock exchange, below earlier expectations

LVMH increases its stake in the Spanish tannery Riba Guixà

Jun 5, 2024 / France
LVMH’s Métiers d’Art has signed an agreement to increase its stake in Riba Guixà, the Spanish tannery renowned for its expertise in tanning Enterfino lambskin

Capri results disappoint in the fourth quarter

Jun 3, 2024 / United States
As its ongoing acquisition by Tapestry awaits legal resolution after being blocked by a US regulator, the luxury fashion group reports a disappointing fourth quarter due to weak global demand

Golden Goose to list in Milan in June

May 31, 2024 / Italy
The Italian Luxury sneaker brand Golden Goose plans to list on the Milan stock exchange in June, saying it will sell 100 million euros worth of shares to fund expansion and pay down debt

LVMH extends partnership with Alibaba

May 28, 2024 / France
The French-based luxury group has extended its partnership with the Alibaba Group for the next five years to enhance its omnichannel strategies and digital presence in China

Weak performance in China affects Tod’s first quarter turnover

May 28, 2024 / Italy
Ahead of the delisting, the Italian luxury group has reported a 6.7% year-on-year fall in turnover in the first quarter of the year, mainly due to a weak performance in the Chinese market

Burberry full year results hit by slowing luxury demand

May 22, 2024 / United Kingdom
The luxury group has reported a decline in both sales and profits amid a slowdown in demand for luxury goods, which particularly affected its performance in mainland China and the US

Ferragamo posts revenue decline

May 15, 2024 / Italy
The Italy-based luxury group saw its revenue fall by 18% year-over-year in the first quarter of the year, mainly due to a weak Chinese market and a difficult wholesale environment

Miu Miu drives growth for Prada

May 2, 2024 / Italy
The Italy-based luxury group posted a strong performance in the first quarter of the year, with the Miu Miu brand standing out with a retail sales growth of 89% as compared to the same period in 2023

Hermès reports strong first quarter

May 1, 2024 / France
The luxury group reported a first quarter sales growth of 17% at constant exchange, as compared to the same period of last year, “with solid activity in all geographical areas”

Golden Goose welcomes Bizzarri to the board at a time of strong momentum

Apr 26, 2024 / Italy
Former Gucci president and CEO Marco Bizzarri joins the board of the Italian luxury sneaker company as sales continue to grow, driven by strong performance across all regions
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