Arnault Clan to Change LVMH Holding Structure to Ensure Control
Under the plan, the world’s biggest luxury group will be controlled by one entity, Agache SCA, after Christian Dior SE, one of the current holding companies of LVMH, is delisted.
conglomerates
Luxury
Zegna Aims to Open 50 Tom Ford Retail Stores, Double Group Margins
At an investor day in New York, the Italian luxury group laid out plans for newly acquired Tom Ford, as well as Thom Browne and its namesake Zegna label.
Luxury
Farfetch Seeks ‘White Knight’ to Avert Collapse, Sources Say
The e-commerce giant is seeking a cash injection to avert a collapse that could send shockwaves across the fashion industry. So far nobody has come to the table and time is running out, but founder Jose Neves may yet have a move up his sleeve.
Luxury
Morgan Stanley Downgrades LVMH to End Six Years of Bullishness
Edouard Aubin downgraded the luxury-goods giant to equal-weight on Friday on concern over weakening demand in the sector.
Luxury
China’s A-List Flock to Hong Kong for Louis Vuitton’s First Show
Designer Pharrell Williams unveiled his pre-fall 2024 men’s collection to about 1,200 guests.
Technology
Meta to Appeal US Judge’s Ruling in Privacy Fight with FTC
Meta Platforms said it would appeal a judge’s ruling that a US regulator can seek to reduce the amount of money the social media company makes from users under 18.
Luxury
Gucci Employees in Rome Go On Strike Over Creative Office Move
The decision would involve transferring 153 of 219 employees to Milan, almost 500 kilometres (311 miles) to the north by March.
Retail
What Is VF Corp.’s Plan for Vans and Its Other Struggling Brands?
Activist investors are demanding big changes at the fashion conglomerate, which also owns The North Face, Supreme, Timberland and other brands. The company will have a chance to lay out its own vision when it releases earnings this week.
Retail
Why Activist Investors Have VF Corp. in Their Crosshairs
New contentious shareholders are seldom welcomed by their target companies, but analysts say the owner of Vans and Supreme should take heed of its latest activist investors, which are pushing the group to cut costs, sell off assets and pay down debt.
Beauty
Unilever Looks to Sell Non-Core Brands
Unilever Plc has hired investment banks Morgan Stanley and Evercore Inc to sell a basket of non-core beauty and personal care brands that include Q-Tips and Impulse, reviving an effort it abandoned two years ago, according to people familiar with the matter.
Sustainability
Shein Vows to Cut Clothing Waste, but Can the Ultra-Fast Fashion Brand Really Change?
The Chinese company hopes to alleviate its environmental impact through programmes like EvoluShein, which focuses on producing garments out of recycled polyester and reducing waste from unsold clothes.
Luxury
Bernard Arnault Has Spent €215 Million Buying Dip in LVMH Stock
Billionaire Bernard Arnault has bought €215 million ($230 million) of LVMH shares since the luxury conglomerate’s disappointing earnings in late July contributed to a drop in the stock price.
Retail
Arc’teryx- and Salomon-Owner Amer Sports Files for US IPO
Amer Sports, the maker of Wilson tennis rackets and Salomon ski boots, has filed confidentially for a US initial public offering that could value the group at as much as $10 billion, people familiar with the matter said.
The News in Brief
JD Sports Says Nike Turnaround Is Only a Matter of Time
Dominic Platt, chief financial officer of the British sportswear retailer, told Reuters, ‘Much as there's a lot of talk about Nike, it's still the most popular brand out there and it's still a very strong brand.’
Chanel Plans to Keep Investing in China Despite Demand Downturn
CEO Leena Nair pointed to the brand’s recent renovation of its Plaza 66 boutique in Shanghai, calling China ‘a market where the clients understand sophistication, refinement.’
Meta Expected to Unveil Smart Glasses Without Camera
Smart glasses have become a target of criticism in recent months amid growing concerns they can be used to record people without their consent.
Record Global Fibre Production Pushes Fashion’s Environmental Footprint Higher
Planet-warming emissions associated with the raw materials used to make fashion, footwear and home textiles have risen 30 percent since 2019, according to a new report.
Novo Nordisk Looks to Target Hair Loss in Consumer Push
The maker of Ozempic and Wegovy seeks to expand its direct-to-consumer pharmaceutical business as rival Eli Lilly outpaces in weight-loss drugs.
On Targets High-Teens Growth Through 2029
The Swiss brand revealed its plan to keep up its momentum with new products in sports such as golf and its Mbappé-supported entry into football ahead of its investor day Tuesday.
Reference Festival to Host ‘Freie Kunst’ Event at Art Basel Paris
The event runs from Oct. 22 to 25 and will mix participants from art, fashion, music and technology as part of the festival’s tradition of a ‘radical and unhinged exchange of ideas,’ said Mumi Haiati, founder of the event’s organiser Reference Studios.