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.
Luxury
How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.
Balenciaga’s Demna Tapped by President Zelensky to Raise Funds for Ukraine
The artistic director of Balenciaga will serve as an ambassador for United24, the fundraising platform for relief in Ukraine put in place by the country’s president Volodymyr Zelensky.
How LVMH Dominates the Luxury Business
Above all, the French conglomerate benefits from the sheer scale of its core megabrand Louis Vuitton, setting in motion a virtuous cycle that powers profit generation, writes Luca Solca.
The Future of Designer Bags in Five Charts
In its latest report, BoF Insights unpacks the dynamics that are fast reshaping what, why and how consumers buy designer bags and small leather goods.
The 5 Biggest Threats to Luxury’s Remarkable Run
This week, luxury’s biggest brands must demonstrate they have a plan to navigate China’s Covid Zero policy, a tumultuous global economy, the crypto crash and more. Plus, BoF tells you what else to watch for in the coming week.
Meet Marc Jacobs-Approved Knitwear Upstart Nong Rak
Fresh off a collaboration with Marc Jacobs sub-brand Heaven, designers Cherry and Home Phuangfueang have attracted early interest from retailers for their fuzzy graphic knits.
Armani Returns to Profitability, Trading Above Pre-Pandemic Levels
The closely-held Italian fashion giant reported consolidated revenues of over €2 billion for 2021, meeting its rebound target a year earlier than owner and CEO Giorgio Armani had forecast.
BoF Insights | The New Era of Designer Bags: Redefining Leather Goods Report
Read the latest BoF Insights report to get BoF’s perspective on designer bags and small leather goods, covering key competitive shifts, including what, why and how consumers buy in the US and China, the category’s biggest markets.
Thom Browne’s Path to $500 Million, 500 Square Feet at a Time
The Zegna-owned brand seeks to double sales to over $500 million from $230 million in 2021 while maintaining its insider cachet. CEO Rodrigo Bazan sees opening intimate boutiques in offbeat locations as a path to keep growing in a luxury market dominated by European giants.
Masterclass | The New Era of Designer Bags
Designer bags and small leather goods are crucial to fashion brands. And they’re set to become even more important. Learn why with BoF Insights.
Tommy Hilfiger Is Returning to New York Fashion Week in September
The brand will show its fall 2022 collection in Brooklyn, marking its first runway show since the pandemic began. It will also be livestreamed on Roblox.
Inside the Activewear Brand Backed by Nick Jonas and Priyanka Chopra
Under new ownership, luxury skiwear brand Perfect Moment transitioned its focus from extreme sports to fashion-conscious mountain-goers. Now, it’s betting a tie-up with an A-list couple and growing its menswear and surf verticals will fuel a post-pandemic surge.
How Big Can Luxury Brands Get?
Last month, Kering set a medium-term sales target of €15 billion for flagship brand Gucci, far beyond what conventional wisdom once deemed possible.
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.
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.
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.
Dior to Host Cruise Show in Shanghai
The LVMH-owned megabrand will show its Cruise 2028 line in the Chinese fashion capital on May 14, 2027.
Botswana Seeks Bigger De Beers Stake
Diamonds have underpinned the African country's economy since their discovery there in 1967.
Swiss Watch Exports Grow for Fourth Month, Overcoming US Slump
Exports in August were buoyed by China and Japan, despite a sharp decline in shipments to the US.
Mytheresa Owner’s Sales Rise as Ultra Wealthy Keep Shopping
LuxExperience posted a rise in sales as the luxury multibrand platform’s strategy of catering to the ultra wealthy helped it navigate a difficult environment for high-end fashion.