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The Business of Fashion

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Luxury

Tough Choices for Armani’s Heirs

The designer’s will unexpectedly called for his brand to be sold or file for an IPO. With the luxury sector in a slump, neither option looks particularly appealing right now, writes Imran Amed.

Luxury

Armani’s Surprise Will, Explained

The Italian designer, whose last testament was made public this week, mandated that the Armani foundation must sell a 15 percent stake in the fashion house to LVMH, L’Oréal, EssilorLuxottica or another company of similar standing, or pursue an IPO, within 18 months.

Luxury

Ferragamo CFO La Tour Resigns, La Morgia Takes Interim Role

The Italian luxury group has been looking for a new executive officer since its CEO Marco Gobbetti left the company in March.

Beauty

The Truth About Violet Grey’s Acquisition Plans

Chief executive Sherif Guirgis set the record straight about the company’s acquisitions, and shared his growth plans with The Business of Beauty exclusively.

Luxury

Inside Kering’s Changing of the Guard

A $24 million welcome bonus was in focus as new CEO Luca de Meo took the reins from François-Henri Pinault. Improving performance will require tough choices to ‘reduce our costs, reduce our debt, and where necessary, rationalise, reorganise, reposition some of our brands,’ de Meo said.

Luxury

3.1 Phillip Lim Names Michelle Rhee Head of Design

Co-founder and creative director Phillip Lim left the brand last November.

Luxury

Audemars Piguet Says CEO Staying

The Swiss watchmaker shut down a media report suggesting the company would ‘part ways’ with chief executive Ilaria Resta.

Luxury

Stella McCartney Names Tom Mendenhall CEO

Stella McCartney has named Tom Mendenhall its new chief executive, succeeding Amandine Ohayon, who is stepping down after nearly two years at the brand’s helm.

Luxury

Armani Draws Thousands Who Pay Last Respects

Fashion leaders, Hollywood actors and fans alike came to the company’s headquarters to say a final goodbye to Giorgio Armani who died on Thursday.

Luxury

Gucci Owner’s Fortunes Rest on Heir Letting CEO Do His Job

A key question for investors is whether Francois-Henri Pinault will give his successor leeway to clean up Kering’s mess.

Sustainability

Chloé’s Chief Sustainability Officer Departs

Aude Vergne, who spent nearly decade at the luxury brand and oversaw the label’s B Corp certification has left the company.

Luxury

Giorgio Armani, Italy’s Fashion ‘King,’ Has Died

The designer was the richest in the world, and the sole owner of the Armani Group that was for many years the most successful fashion company in the country.

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