Sales in the Americas fell 70 to 75 percent.
The recovery long promised by luxury brands seems nowhere in sight, as the expansion of war in the Middle East, along with China’s tax crackdown on the wealthy, piled further pressure on the world’s biggest luxury conglomerates in the third quarter, and executives buckled in for a tough winter.
Pearl, a subsidiary of David’s Bridal, will own David’s Bridal and license its intellectual property back to the bridalwear brand. David’s Bridal CEO Kelly Cook will serve as Pearl’s CEO.
Chief executive officer Bjoern Gulden wants the company’s local staff to jump on trends quickly and cater to customers in their markets to drive demand.
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The move extends British company’s push into sports brands following a recent purchase of Puma stock.
The ultra-fast-fashion giant’s share price sank to a record low after it released its first results as a public company earlier this week. With sales growth under pressure, the company must find a way to stand out in a hyper-competitive market.
Following a 4 percent drop in quarterly sales, Nike is overhauling global operations under its new 'Pace' plan — a move that includes job cuts that will cost the company $300 million in severance.
A Bank of America analyst downgraded shares of the sportswear maker to underperform from neutral, pushing back expectations of a sales turnaround to 2028.
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LVMH and Kering have seen their post-pandemic gains vanish and Hermès has taken a knock as investors question prospects for a sector rebound. Richemont’s climb, meanwhile, shows no sign of letting up.
The move is fueling speculation the billionaire Persson family could take the fast-fashion retailer private.
The beleaguered sportswear giant is hoping its Alphafly 4 model will bring some added shine to one of the few bright spots in its portfolio: its running category.
The smart ring maker plans to market 50 million shares for $40 to $44 each, according to filings, which could value the company as high as $14.1 billion.
The Chinese beauty conglomerate’s revenue grew 29.8 percent in the latest quarter, but its profit decreased by double digits due to increased promotional expenses as it expands overseas.
Shares jumped after the group raised its annual revenue and profit forecasts and said it expected sales to return to growth.
The German sportswear business is attempting to reboot its brand appeal to better compete with larger rivals Adidas and Nike.
The Tata Group-owned business beat expectations, shoring up confidence in its fashion business after a period of sluggish performance.
Chasity Monroe has been appointed as the label’s chief executive as it undergoes a wider brand refresh.
The Korean firm and Medicube owner reported third quarter revenue growth of over 100 percent, mostly attributed to the expansion of its skincare range into new markets, channels and product categories.
Celebrity-makeup artist Ash K. Holm will join the “smart” mirror brand for a year-long partnership focusing on guidance and education.
Revenue growth outpaced the previous quarter in the Korean conglomerate’s domestic market, but slowed internationally.