World Footwear

Luxury

Prada’s full year profits surge by 44%

Mar 11, 2024 / Italy
The Italian-based group ended 2023 with a 17% growth in revenue and a 44% rise in profits, as compared to the previous year, boosted by the desirability of its Prada and Miu Miu brands

Farfetch CEO José Neves steps down

Feb 19, 2024 / United Kingdom
Following Farfetch’s acquisition by South Korea’s Coupang in December, José Neves, who founded the luxury e-commerce platform in 2008, is stepping down from the CEO role

Hermès posts full year revenue growth

Feb 14, 2024 / France
The French-based luxury group reported “an outstanding performance” across all regions in 2023, with total revenue up by 21% year-on-year at constant exchange rates to 13.42 billion euros

Capri’s performance hit by weak consumer demand

Feb 13, 2024 / United Kingdom
The parent company of Versace, Michael Kors and Jimmy Choo continued its downward trend in the third quarter of fiscal 2024, mainly due to slower consumer demand in the Americas region

Kering’s revenue declines after trying 2023

Feb 8, 2024 / France
The French-based luxury group has reported a 4% year-on-year decline in revenue in 2023, driven by weak performances of all its main Houses. Fourth quarter also disappointed

Tod’s posts strong 2023 results

Feb 2, 2024 / Italy
The Italian-based luxury group delivered a strong performance in 2023, highlighting the double-digit revenue growth at constant exchange rates across all its brands, as compared to 2022

LVMH names new Chairman and CEO of Fashion Group

Feb 1, 2024 / France
The French-based luxury conglomerate has named Michael Burke as Chairman and CEO of LVMH Fashion Group. He succeeds Sidney Toledano, who was appointed Advisor to Bernard Arnault

Ferragamo reports decreasing full year revenue

Jan 31, 2024 / Italy
The luxury group has warned of a slowdown in luxury demand, with preliminary consolidated revenue for 2023 down by 7.6% at current exchange rates and 8.1% at constant exchange rates year-on-year

Farfetch shareholders join forces to oppose the takeover of Coupang

Jan 30, 2024 / United Kingdom
A group of Farfetch shareholders have come together to block South Korean e-commerce firm Coupang’s impending takeover of the luxury e-tailer, citing an untransparent sales process

LVMH reports another strong year

Jan 26, 2024 / France
The French-based luxury conglomerate highlighted a “remarkable performance” from its Fashion & Leather Goods business group, with organic revenue growth of 13% year-on-year in 2023

Burberry warns on profits as luxury demand slows

Jan 17, 2024 / United Kingdom
The British luxury group has once again cut its profit guidance for fiscal 2024, following a period of weak sales in December. It also warned of tough times ahead for the luxury sector as demand wanes

South Korean Coupang acquires Farfetch

Dec 19, 2023 / United Kingdom
The South Korean e-commerce giant has agreed to buy Farfetch in a bailout deal, providing the online luxury platform with 500 million USD in emergency funding. Deal to acquire a 47.5% stake in Yoox Net-a-Porter is off

Kiton invests in new production cluster

Dec 15, 2023 / Italy
The Italian luxury ready-to-wear and bespoke clothing company will invest 30 million euros in a new facility in Arzano (Naples) to strengthen its production, including that of accessories and shoes

Christian Louboutin enters joint venture in India

Dec 14, 2023 / France
The French footwear designer is transferring his current operations in India into a joint venture with Aditya Birla Fashion and Retail Ltd (ABFRL), one of the country’s leading retail chains

New creative director at Tod’s

Dec 11, 2023 / Italy
The Italian-based luxury group has appointed Matteo Tamburini as Creative Director of the Tod’s brand. He succeeds Walter Chiapponi, who stepped down in July
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