Luca de Meo Says Italy Remains Key, Rules Out Production Shift
The Kering CEO also denied any interest in buying a minority stake in Armani, adding that the group was focusing on other challenges.
Luxury
How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.
What Adidas X Gucci Means for Gucci — and Adidas
This week, everyone will be talking about the long-anticipated release of Gucci X Adidas merchandise, the Global Fashion Summit in Copenhagen and US inflation data.
How Nili Lotan Built a $100 Million Brand
For the last 19 years, the Israel-born designer has developed her independent American fashion label by producing high-quality, timeless basics.
Britain’s S.S. Daley Wins the LVMH Prize
ERL and Winnie New York were runners-up. Daley will be awarded €300,000 and a year of mentorship from executives of luxury’s biggest conglomerate.
Farfetch Slashes Its Outlook For the Year
The online luxury platform significantly scaled back its expectations for sales in 2022, as the loss of its Russia business and other factors have taken a toll.
Anti Social Social Club Acquired by Marquee Brands
The purchase of the polarising streetwear label by the same company that backs Martha Stewart and Ben Sherman points to an M&A market in transition.
The Debrief: How Luxury Woos the World’s Biggest Spenders
BoF’s Chavie Lieber dives into the elaborate and secretive way luxury brands court their high-spending clients with trips to exotic locales and entry to exclusive events.
Etro Names Marco De Vincenzo as Creative Director
De Vincenzo’s appointment marks the latest move to revitalise the Italian house after LVMH-backed private equity firm L Catterton acquired a majority stake in the company last year.
Chanel to Open Private Stores for Top Clients as Sales Soar 50%
The French luxury giant said 2021 revenues rose 23 percent over pre-pandemic levels to $15 billion. The brand now plans to open dedicated boutiques for top-spending clients as rapid growth risks overcrowding its stores, CFO Philippe Blondiaux revealed.
As Travel Booms, Fashion’s Hospitality Ambitions Heat Up
As travel bounces back after two-plus years of limited trips, fashion-branded hotels have gained fresh momentum.
Balenciaga’s Demna Twists a Temple of Capitalism
Money is ‘the biggest fetish in the world,’ said the designer as he exhibited his skill for bringing provocation to commercial product with a show at the New York Stock Exchange.
Dolce & Gabbana ‘Hosted’ Kourtney Kardashian and Travis Barker’s Wedding
The Kardashian clan posted a steady drip of total-look ensembles by the Italian label during the highly-publicised, co-branded celebration in Portofino.
Richemont Shares Tumble After Failing to Report Progress On YNAP Sale
Richemont shares plunged the most in more than two years after the Cartier owner said Chinese demand will be slower to recover than expected, clouding prospects for a market that’s fueled the luxury industry’s recent growth.
THE NEWS IN BRIEF
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.
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.