The News In Brief
Italian Luxury Supplier Plans Creditor Talks As Demand Slows
Altofare Group, which oversees a group of Italian suppliers to the luxury world, has hired tax and legal services for advice on its debt, Bloomberg reported.
Moncler To Add Alexandre Arnault To Its Board After LVMH Deal
The ready-to-wear outerwear brand is set to appoint LVMH founder Bernard Arnault’s third child, Alexandre Arnault, (currently deputy CEO of Moët Hennessy) to its board after a deal with the French luxury group last year.
US Fashion Lobby Warns Trump Cuts Threaten Key Supply-Chain Programmes
The Labour Department is cancelling more than $500 million of funding for programmes that combat child labour, forced labour and human trafficking abroad, further reducing funding for international human rights efforts.
Supergoop’s Founder to Exit the Brand
Holly Thaggard, who founded the US-based suncare label in 2005, will assume a strategic advisor role, according to an internal company message.
Trump Says He May Give China Reduction in Tariffs to Get TikTok Deal Done
US President Trump said on Wednesday he would consider reducing tariffs on China to confirm a deal for the sale of TikTok by Chinese parent ByteDance, Reuters reported. Trump also said he would be willing to extend the April 5 deadline.
Francesca Amfitheatrof Exits Louis Vuitton
The luxury brand's artistic director for watches and jewellery is leaving after seven years.
Major UK Investors Join Push for Retail Giants to Pay Workers ‘Real Living Wage’
Investors including Axa and Scottish Widows are backing shareholder resolutions pressing retailers Next, Marks & Spencer and JD Sports to increase pay for thousands of workers.
Next Raises Profit Forecast, Defies Gloomy Retail Environment
The British retailer said it expects a pretax profit of £1.1 billion and sees full-price sales growing 5 percent this year.
H&M First Quarter Sales Weaker Than Expected
The company said sales were up 1 percent in March so far, signalling a slow start to the spring and summer season.
Homme Plissé Issey Miyake Named Guest Designer at Pitti Uomo in June
The Japanese brand is leaving its slot on the Paris Fashion Week menswear calendar, saying it would showcase collections at travelling events.
Investors Sue Thirteen Lune Founder for Alleged Fraud and Embezzlement
Two of the beauty retailer’s investors have accused the entrepreneur of misappropriating nearly $200,000 and using a recent acquisition to wipe out shareholder equity in a California lawsuit.
Hermès Taps BNP Paribas CEO, Former Spy for Luxury Group’s Board
Also nominated are Bernard Emié, who led France’s foreign intelligence agency DGSE, and Cécile Béliot-Zind, the CEO of dairy company Bel Group. The changes to the board, Bloomberg reports, will be put to a vote at the company’s shareholders’ meeting on April 30 in Paris.