Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
luxury / Apparel
Luxury
Here’s What We Learned From Last Week’s Luxury Results Bonanza
Among the takeaways from the latest round of quarterly reports from European luxury groups: China’s hurting, industry growth in the US has slowed and quiet luxury is having a moment.
Luxury
Kering Sales Down 1% as China Weighs on Gucci Revamp
Gucci sales fell 6 percent on a comparable basis as falling demand in China sent turnaround efforts backwards. Retail sales grew 2 percent at the group’s other fashion brands.
Luxury
Prada Q3 Revenue Up 1%, as Miu Miu Sales Drop for First Time in Four Years
The luxury group’s results reflect a wider industry slowdown marked by subdued demand in Mainland China.
Luxury
Luxury’s Problem With Unsold Stock Comes Under the Microscope
New European regulations will soon force high-end brands to reveal all the stock they shred and burn to keep retail values high.
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Luxury
Marc Jacobs: Plotting Life After LVMH
A Charli XCX cover, a Sofia Coppola documentary, a guest appearance on Broadway… America’s star designer is still all over pop culture as he opens a new chapter for his namesake label under new owners WHP and G-III after decades at LVMH. Can lightning strike twice?
Luxury
Miuccia Prada: Future-Proofing a Fashion Dynasty
As she prepares to hand power to the next generation, the doyenne of Italian fashion contemplates what makes Prada Prada and what she’ll leave behind, as well as more immediate matters like absorbing Versace.
Luxury
Chanel: The Designer Revamp That Worked
How did a 115-year-old brand rocket back to growth amid a downturn in luxury demand? Drawing on interviews with Chanel fashion president Bruno Pavlovsky, artistic director Matthieu Blazy, group CEO Leena Nair and more, this report breaks down the multi-faceted strategy that reignited desirability and sales, allowing the French couture icon to solidify its position in ‘ultimate luxury.’
Luxury
BoF Professional Masterclass | Chanel: The Designer Revamp That Worked
Join us for our next BoF Professional Masterclass on Monday, September 21, at 17:00 BST / 12:00 EDT as BoF’s Marc Bain and Robert Williams unpack the multi-faceted strategy that reignited desirability and sales, allowing the French couture icon to solidify its position in ‘ultimate luxury.’
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Luxury
Opinion: It’s Risky to Stock Discounter TJ Maxx With Designer Fashion
TJMaxx has quietly become a force in top-end goods, selling cut-price luxury fashion, but there are perils for both luxury houses and the discount retailer, Andrea Felsted writes.
Luxury
Richemont Promotes Johann Rupert’s Son in Succession Plan
The Swiss luxury group appointed Anton Rupert, 39, as non-executive co-deputy chairman in charge of creative and commercial direction, signaling a long-awaited succession plan for founder Johann Rupert is underway.
Luxury
US Resilience Is Keeping Luxury Brands Afloat. Can It Last?
Europe’s high-end fashion houses are riding a burst of AI-fuelled wealth creation in the US. But growing concentration of wealth and a shrinking pipeline of new aspirational luxury shoppers could test the strength of the market.
Luxury
Julie Kegels Wins LVMH Prize
Zane Li’s Lii and Anil Padia’s Yoshita 1967 took the runner-up Karl Lagerfeld and Savoir-Faire prizes, respectively.
The News in Brief
Shein Agrees to Pay $100 Million to Settle US FTC Probe
The settlement, equivalent to 44 percent of the ultra fast-fashion company’s second-quarter profit, is the latest blow amid regulatory and tax crackdowns in Europe and the US that have hampered Shein’s growth.
Kering Drops 12% as Luxury Braces for Tough Winter
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.
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
Elle Launches Moroccan Edition
Hitting newsstands in October, the magazine marks Elle’s 51st international edition, published under licence by the Geomedia group.
David’s Bridal Plans Spinoff and IPO of AI Wedding Planning Platform Pearl
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.
L’Oréal Sales Beat Expectations as Premium Products Surge
The French giant handily beat expectations on strong demand for hair products at salons and premium skincare from its dermatological division.
P&G Beats Revenue Estimates, Flags Bigger Hit to Annual Profit
The maker of Pantene shampoo was helped by strong personal care demand, but expects higher commodity costs to reduce profit by about $1.4 billion this year.