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.
footwear
China
Shoe Retailer Belle Said to be Planning $1 Billion Hong Kong IPO
Belle Fashion Group is targeting to raise about $1 billion in its Hong Kong initial public offering, people familiar with the matter said, five years after private equity firms took China’s biggest women’s footwear retailer private.
Retail
How Fashion Is Cashing in on the 2022 Wedding Boom
Fashion brands are anticipating a surge in demand for wedding garb, and are responding in kind.
Luxury
Ralph Lauren Unveils Collection for HBCUs Morehouse and Spelman
The brand aims to honour the contributions of Black students to American collegiate style — drawing inspiration from fashion worn at historically Black colleges from 1920 to 1950.
Global Markets
Arezzo & Co’s Net Revenue Rises 81% in 2021 on Physical Retail Acceleration
The Brazil-based footwear and accessories conglomerate registered full year 2021 adjusted net revenue of 2.93 billion Brazilian reais (approximately $575.7 million).
Luxury
Gucci and Adidas Announce Collaboration
The collection, per Gucci, “combines the heritage and the creative codes of both brands."
Global Markets
Havaianas Parent Alpargatas Sets Sales Record in 2021
The Brazilian flip-flop maker reported 260 million pairs of shoes sold last year, achieving global sales of $744.9 million.
Entrepreneurship
Paul Andrew Relaunches Namesake Brand
The former Salvatore Ferragamo creative director’s shoe line will be back on the market this autumn.
Global Markets
Russian Retailer OR Group Defaults on $7 Million Bond Repayment
The shoe retailer and e-commerce marketplace owner has defaulted on bonds valued at 592 million roubles ($7.7 million).
Technology
Nike Sues StockX for Selling Sneaker NFTs
Sneaker giant Nike sued online reseller StockX in New York federal court on Thursday for selling unauthorised images of Nike shoes, marking the latest lawsuit over digital assets known as non-fungible tokens.
Retail
Asics Defies Nike’s China Underperformance in Return to Profit
Asics shares still remain down more than 3 percent in 2022, though Chinese brands that surged last year as they benefited from the travails of foreign rivals have also had muted starts to this year.
Global Markets
Brazilian Footwear Giant Arezzo Looks to Raise $153 Million in Follow-On Offering
The shoemaker announced on Thursday a follow-on share offering of 7.5 million shares as it aims to raise money for long-term investments, including new stores and potential mergers and acquisitions.
Retail
Pace of Sales Growth Slows at Dr. Martens, Sinking Shares 13%
Dr. Martens said revenue growth slowed in its third quarter, hammering its share price, after a drop in its wholesale business as it prioritised scarce inventory for online and retail stores channels.
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.