Mike Ashley’s Frasers Boosts Position in Burberry
Frasers Group Plc now possesses over 7 percent of the British label’s voting rights, placing it on track to be the brand’s biggest investor.
Luxury
How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.
Cushnie Shutters, Citing Covid-19 Economic Challenges
The New York-based womenswear label, led by Carly Cushnie, will close after 12 years in business. While many independent designer labels are struggling right now, few have decided to fully shut down.
How to Build Wholesale Relationships Without Getting Squeezed
Many fashion brands remain dependent on department stores, e-tailers and multi-brand boutiques to drive sales, but the cost of doing business with these third parties is growing. Here’s how labels can protect themselves.
LVMH and Tiffany Renegotiating $16 Billion Deal Price
The French conglomerate and the American jeweller are discussing a price in the range of $130 to $135 per Tiffany share. The original price for the deal was $135 per share.
Tapestry Names Joanne Crevoiserat CEO
Crevoiserat has served as the group’s interim chief since Jide Zeitlin resigned amid misconduct allegations in July.
For Luxury Brands, the Latest Battle Is for Local Customers
In the third quarter, Gucci underperformed LVMH’s fashion and leather goods division as well as Kering stablemates like Saint Laurent, underscoring the growing importance of local customers in the age of Covid-19.
Fausto Puglisi Joins Roberto Cavalli
The Sicilian designer has created looks for superstars like Madonna, Beyoncé and Jennifer Lopez. He succeeds Paul Surridge, who exited the company last March.
Luxury's Coronavirus Recovery: Who's Ahead and Who’s Behind?
Some sank, others surged. BoF examines how Kering, Hermès and Moncler stacked up against the high bar set by LVMH’s fashion and leather goods division last week.
Moncler Sees 'Encouraging' Signs After Better Than Expected Quarter
In the months between July and September, revenue dropped 15 percent year on year.
Gucci’s Appeal Holds Up in Pandemic as Kering Beats Estimates
The luxury group's organic revenue fell only 1.2 percent in the third quarter, compared with analysts’ projection for a 9.1 percent drop.
Hermès Sees Luxury Demand Recover From Pandemic Slump
Revenue rose 6.9 percent to €1.8 billion ($2.1 billion) in the third quarter, beating estimates by €100 million.
Don’t Put Christopher John Rogers in a Box
The designer is plotting his growth plans carefully after a summer of industry accolades, A-list celebrity dressing and spiking interest in Black designers.
Five Years After the Farfetch Deal, What’s Next for Browns?
The Farfetch-owned British fashion boutique has been buoyed by a digital pivot. But as it celebrates its 50th anniversary, its plans to revolutionise physical retail are facing fresh challenges.
THE NEWS IN BRIEF
Zankov Appoints Its First CEO
Jack Tobin is joining Diane von Furstenberg artistic director Henry Zankov’s namesake label as CEO and part owner.
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.