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.
Ralph Lauren Quarterly Sales Drop 57 Percent
The American brand reported a loss of $1.82 per share, worse than the $1.73 analysts were expecting.
Hugo Boss Expects Demand for Suits to Return Despite Quarterly Sales Slump
The German luxury house saw its sales drop 59 percent and reported revenue of $323.5 million in the second quarter, missing analyst expectations.
Amid Pandemic, Luxury Leaders Seize Digital Opportunity to Gain on Rivals
The worst quarter in the history of the modern luxury business was also its best ever for digital sales.
With Brand at Crossroads, Burberry's CEO Bets Big on China's Young Money
Burberry's turnaround was always going to be an uphill battle. Now, as the pandemic thwarts the company's plans to reinvigorate top-line growth this year, Marco Gobbetti is betting that a digital edge with Asia's Millennial and Gen-Z clients will pay off.
Hermès Quarterly Sales Hit by Pandemic Lockdowns
The maker of the iconic Birkin bag saw its sales plunge 42 percent in the three months through June.
What Luxury’s Worst Quarter Ever Reveals About the New Normal
Bleak financial results at LVMH, Kering and others came as little surprise. But managers offered fresh clues on how the crisis will reshape the luxury market going forward — and signalled a few unexpected bright spots.
Ferragamo Second Quarter Revenue Misses Analysts Expectations
The Italian luxury group saw its sales decline 60 percent in the second quarter.
Kering Sales Down 43.7% in the Second Quarter
The luxury conglomerate added it could not provide a forecast for the second half of the year despite an encouraging recovery in Asia.
LVMH Revenue Down 38% in the Second Quarter
The luxury conglomerate's profit from recurring operations was $1.96 billion in the first six months of the year, falling below analysts expectations.
Moncler Announces Plans to Internalise Its E-Commerce Channel
The Italian luxury brand, which previously managed its e-commerce business in partnership with Yoox Net-a-Porter, said it will launch a fully integrated online platform in 2021.
Everything You Need to Know About Luxury Brands' Financial Results
This week, everyone will be talking about first-half results from LVMH, Kering, Prada, Moncler and other luxury brands, plus the launch of Fenty Beauty's skin-care line. Get your BoF Professional Cheat Sheet.
The BoF Podcast: Stephen Jones Says the Constant Quest for Perfection Often Kills Spontaneity
Celebrated milliner Stephen Jones talks to BoF Editor-at-Large Tim Blanks about how the pandemic has signalled an opportunity to reshape the fashion industry.
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.