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.
legal
News & Analysis
Report: Gucci Tax Evasion Trial Likely
Milan prosecutors allege that Gucci owes the Italian tax authorities around €1 billion for revenues booked in the years between 2010 and 2016.
Beauty
Estée Lauder and Deciem Founder Take Battle for Beauty Brand to Court
Estée Lauder wants a Canadian judge to remove Brandon Truaxe as chief executive of the company behind popular beauty brand the Ordinary after he lashed out on social media and ordered stores shut.
Luxury
Belgium Drops Case Against Arnault Business
Belgian prosecutors said they have closed an investigation into a $3.24 billion capital increase in a Belgian company owned by billionaire and LVMH chief executive Bernard Arnault.
News & Analysis
America’s Massive Retail Workforce is Tired of Being Ignored
"Long absent from discussions about employment, workers from Walmart to Bloomingdale’s are taking matters into their own hands."
News & Analysis
News Bites | Amazon Launches Prime Wardrobe Service, Kering Responds to 'Made In' Allegations
In today’s News Bites, Amazon is adding a new 'try before you buy' fashion service called Prime Wardrobe and Kering responds to allegations that the company falsely advertises Chinese-made eyewear as 'Made in Italy.'
News & Analysis
Kering Sued Over 'Made in Italy' Eyewear Claims
"According to a new lawsuit, eyewear for Gucci, YSL and Brioni is actually made (mostly) in China."
News & Analysis
Adidas Loses Rulings Over Skechers' Alleged 'Springblade' Knockoffs
A federal judge has rejected Adidas effort to block Skechers USA Inc from selling athletic sneakers that it said copied its "Springblade" concept.
News & Analysis
Ivanka Trump Seeks to Duck Deposition in Aquazzura Lawsuit
Ivanka Trump’s lawyer argued on Tuesday that she has no relevant knowledge about the design, sale or marketing of the shoes sold under her name in an ongoing lawsuit with Italian shoe brand Aquazzura.
Retail
Ivanka Trump Brand Wins More China Trademarks
China has granted provisional approval for four additional Ivanka Trump trademarks, with the brand continuing to seek more intellectual property protection in the country.
Retail
Zara Founder Shields Inditex Stake to Maintain Family Control
Amancio Ortega has put a majority stake in the firm that owns the Zara fashion chain into a holding company to ensure family control remains unassailable after he dies.
News & Analysis
Coty Denies Claim of a Ban on Online Sales for its Luxury Brands
The comments came in a landmark case, which could determine whether luxury goods companies can stop retailers from selling their products via online marketplaces such as Amazon or eBay.
Luxury
EU Court to Weigh In on Luxury Brands' Attempts to Ban Online Sales
Owners of luxury brands have been fighting with online retailers for the last decade, arguing that they should have the right to choose who distributes their products to protect their luxury image and exclusivity.
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.