Armani Open to More Than One Investor for Sale of 15% stake, CEO Says
The comments by chief executive Giuseppe Marsocci come as the brand reportedly considers the possibility of LVMH, L’Oreal and EssilorLuxottica sharing the stake.
leadership
Luxury
Will 2021 Drive Game-Changing Luxury Deals?
The pandemic has increased the possibility of transformative M&A in the European luxury sector, from a Kering-Richemont mega-merger to an ‘Italian fashion project.’
Retail
Gwyneth Paltrow Joins Rent the Runway Board
The founder of Goop will take up this position in May as the rental fashion company seeks to redefine itself with customers coming out of the pandemic.
Workplace & Talent
Michael Kors Appoints New President of EMEA Region
The US-based brand’s owner, Capri Holdings Ltd., announced the appointment of longtime Michael Kors executive Robin Gendron to the position, effective June 1.
Luxury
Angela Missoni Exits Creative Director Role
The designer spoke to BoF’s Tim Blanks about life beyond the family business.
Luxury
Valentino Appoints New CEO for Japan and Korea
The Italian luxury brand named Masumi Shinohara to the post, which will be based out of Tokyo. Before Valentino, Shinohara worked for Zegna Japan as
Workplace & Talent
Jim Gold Named CEO of Moda Operandi
The former Neiman Marcus executive has held the position on an interim basis since Jan. 11. Gold will join the luxury e-commerce company’s board, and continue to work closely with founder and chief brand officer Lauren Santo Domingo.
Media
Condé Nast Names Leta Shy Editor in Chief of Self
The US-based digital fitness-focused magazine’s newest leader comes from its consumer marketing division, where Shy was the global commerce category director of health, beauty and fitness since January.
Workplace & Talent
How to Hire a Chief Diversity Officer
With equity and inclusion at the forefront of national conversation and public policy, the fashion industry is scrambling to hire diversity leaders. But in their haste to address years of falling short, companies must be careful not to do more harm than good.
Workplace & Talent
Tapestry Appoints Scott A. Roe CFO and Head of Strategy
The longtime VF Corp. executive will lead financial functions as well as the strategy and consumer insights teams at the New York-based parent company of Coach, Kate Spade and Stuart Weitzman beginning Jun. 1.
Retail
Away Names Co-Founder Jen Rubio CEO Ahead of Potential IPO
Away, the luggage company valued at $1.45 billion, named co-founder Jen Rubio chief executive officer after she spent two months in the role on an interim basis.
Workplace & Talent
South African Retail Giant Truworths Appoints New CFO
Emanuel Cristaudo will take on the role of chief financial officer of the 104-year-old South African fashion retailer effective July 1, Reuters
China
Valentino Taps New Greater China CEO
The Italian luxury house has named Mitchell Bacha its chief executive officer for Greater China, according to a statement from Valentino.
The News in Brief
Edward Buchanan Opens New Creative Hub in Milan
A new space called The Situation will host exhibitions and residencies and provide resources to Black, queer and other under-represented creatives.
L’Oréal Joins Forces With Nykaa to Invest in Indian Beauty Brands
BOLD, the French conglomerate’s venture capital fund, will collaborate with retailer Nykaa to invest in the next generation of Indian beauty brands.
Private Equity Firm Inflexion Invests in Manucurist
The European investor, which previously backed Medik8, has taken a 49 percent stake in the premium French nail line.
H&M Profit Rises on Tariff Refunds as Sales Remain Sluggish
US tariff refunds drove an increase operating profit, even as the fast-fashion retailer has struggled to deliver consistent sales growth.
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.
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.’