Zankov Appoints Its First CEO
Jack Tobin is joining Diane von Furstenberg artistic director Henry Zankov’s namesake label as CEO and part owner.
Luxury
How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.
Luxury’s Post-Pandemic Recoveries, Ranked
This week, European luxury’s biggest groups reported banner second quarter results. But some players are bouncing back much faster than others, revealing a market transformed by Covid-19.
Marni’s Francesco Risso on Fashion After Isolation
Marni’s creative director reflects on the changes that must endure post-pandemic and the importance of emotion.
Hermès Sales Return to Pre-Pandemic Levels on Luxury Appetite
Revenue more than doubled in the second quarter, with sales 33 percent high than in the same period in 2019.
Prada Sees Profits Recover as Sales Surge
The Milan-based brand’s first-half operating profit exceeded pre-pandemic levels as a turnaround gathers pace.
As Armani Speculation Swirls, What’s Next for Italy’s Dealmaking Surge?
The current wave of mergers and listings is expected to grow as big groups like LVMH and Kering surge ahead and Italy’s last remaining luxury independents face pressure to bounce back from the pandemic while juggling succession planning and digital transformation.
The Breakthrough Designer Rebooting Diesel
Glenn Martens speaks exclusively to Tim Blanks about re-energising the Italian denim brand, designing for his own label Y/Project and pushing people to rethink fashion.
New York Fashion Week Will Be A Packed Return to Live Shows
The schedule, which CFDA released in an official capacity with IMG for the first time, includes a lineup of stalwarts as well as young designers.
How Luxury’s Two-Speed Recovery Is Reshaping the Category
This week, everyone will be talking about quarterly results from luxury’s biggest players, plus the latest fashion brands looking to go public.
LVMH’s Landmark Virgil Abloh Alliance, Explained
This week, LVMH bought a majority stake in the Off-White trademark from Virgil Abloh in a deal designed to tie the polymathic creative director to the group long-term.
LVMH to Buy Majority Stake in Off-White, Expand Virgil Abloh’s Role
The luxury conglomerate will acquire the trademark to the New Guards Group-operated streetwear label, as well as work with its creative director to launch new brands and energise existing ones across its portfolio.
Why Ermenegildo Zegna Is Going Public
The Italian menswear brand is raising $880 million by merging with a New York-listed SPAC. The funds will give the luxury firm greater financial firepower to help it bounce back from a bruising pandemic year and fend off competitors.
L Catterton to Take Majority Stake in Etro
The LVMH-backed fund is reportedly acquiring a 60 percent stake in a deal that values Etro at €500 million ($590 million).
THE NEWS IN BRIEF
LVMH, Kering Update Model Safety Guidelines
Nearly a decade since the luxury groups first published a charter of model protections, they are introducing new measures to protect those working in the industry.
US Luxury Spending Slows, Citi Data Shows
US credit card spending on luxury brands fell for a third consecutive month in September, according to data from Citi.
Frasers Group Steps Up Luxury Push With New Division, Larger Burberry Stake
The British retail group has brought its stakes in Burberry, Hugo Boss and Mulberry together with its luxury retail operations.
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.
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.