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.
Is the Future of Luxury E-Commerce Big or Small?
Soon after Farfetch stock surged on the back of its Alibaba mega-deal, mid-sized Mytheresa quietly submitted paperwork for a proposed IPO. Can niche players compete with the heft of online luxury leaders in a crowded market?
How to Beat Luxury’s Long, Slow Recovery, According to Bain
Luxury sales overall won’t likely get back to pre-pandemic levels before 2022. But a few brands are already surging ahead of the pack.
Can Rimowa Pull a Louis Vuitton?
Alexandre Arnault, chief executive of the LVMH-owned maker of hardshell suitcases, is betting that softening up — and inching toward the hyper-competitive handbag market — will drive growth during this tough time for the travel industry.
Richemont Needs a Transformational Move
For years, the Swiss luxury group has lagged rivals in fashion and tech, and now finds its dominance in hard luxury under threat. What is chairman Johann Rupert’s end game?
Can Gucci Reinvent the Fashion Show?
This week, everyone will be talking about GucciFest, the pandemic’s second wave and retail earnings. Get your BoF Professional Cheat Sheet.
Olding Is the New Blanding: Luxury Brands Look Back to Get Ahead
After an era of streamlined logos and nearly constant drops of Instagrammable merchandise, European fashion houses are reasserting brand signatures from their pasts to signal lasting value in an uncertain market.
Report: Mytheresa Prepares for US IPO
The German e-commerce company plans to seek a valuation of about $1 billion to $1.5 billion, which could change based on holiday period performance, according to people familiar with the matter.
Can Shayne Oliver’s HBA Pull Off a Second Coming?
Hood By Air is back with business partner Edison Chen and a strategy that’s more focused on streetwear and direct-to-consumer distribution.
Paris Department Store Printemps Shuts Shops and Cuts Jobs
The company plans to close seven stores in France and cut 428 jobs as it reels from the effects of the pandemic.
Why Supreme Sold to VF Corporation
In a deal that values the New York streetwear brand at $2.1 billion, Supreme picks up a long-term partner with back-end prowess and ambitions to scale it past $1 billion in annual sales.
Should Luxury Brands Raise Prices?
Growing income and wealth inequality have allowed European luxury brands to raise prices at about double the rate of other consumer goods categories. But some brands are better positioned to hike prices than others, writes Luca Solca.
Richemont's Farfetch Deal to Further Boost Strong China Sales
The Cartier owner posted an 82 percent drop in net profit for its first half to September 30 despite a 78 percent jump in Chinese sales.
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.