Conglomerates
The Court Administration Faced by LVMH and Armani Units, Explained
An Italian court has placed subsidiaries of the two luxury businesses under external supervision amid an ongoing probe into labour abuses in big brands’ supply chains.
LVMH Said to Shake Up Fashion Group Leadership
Former Louis Vuitton CEO Michael Burke is stepping back from overseeing LVMH’s sprawling Fashion Group just four months after he was named the unit’s chief executive, BoF has learned.
LVMH Considering Options for Marc Jacobs, Amid Buyer Interest, Say Sources
The fashion giant has been working with advisers to study possibilities for the Marc Jacobs brand after being approached by suitors.
Kering Profits to Plummet 40-45% in First Half
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Op-Ed | Tapestry-Capri and Pricey Purses Are the Wrong Targets for Trustbusters
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.
Can Gucci’s Turnaround Plan Still Work?
This week, Kering flagged sales were down 20 percent at its flagship brand, knocking confidence in the group’s turnaround strategy. ‘A more drastic solution is required,’ one analyst wrote.
Gucci Sales Down 20% in First Quarter, Kering Forecasts
Kering’s first-quarter revenues will likely decline by 10 percent on a comparable basis, the Paris-based luxury group flagged on Tuesday.
BoF Masterclass | Selling Luxury to the 1%
Watch on demand a BoF Professional Masterclass that explores the topic in our Case Study, “How Brands Sell Luxury to the 1%”.
LVMH’s Steady Holiday Growth Offers Reassuring Signal For Luxury
The French group seen as a bellwether for the sector expressed tempered optimism for 2024.
Michael Burke to Succeed Sidney Toledano at LVMH’s Fashion Group
The former Louis Vuitton CEO will become chief executive and chairman of the unit that houses Celine, Loewe, Givenchy, Marc Jacobs, Pucci and Kenzo, effective February 1.
Richemont Shares Surge As Demand for Cartier, Van Cleef Boosts Holiday Sales
Sales rose 8 percent year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.
The Best of BoF 2023: The Year Luxury Outgrew Fashion
With global demand in flux, brands ramped up their presence at concert tours, Formula One races, tennis championships and more. New creative directors debuted at Louis Vuitton, Gucci, Burberry and Tom Ford.