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.
Armani and Yoox Net-a-Porter Sign Omnichannel Deal
The partnership will offer Armani customers access to all products on online and offline channels by 2022.
Is Dior Catching Up With Chanel?
Today, as Dior stages a destination runway show in Italy, a new report shows the LVMH-owned brand's finances inching closer to those of its oldest rival, fashion-and-beauty juggernaut Chanel.
Tapestry CEO Jide Zeitlin Resigns
Zeitlin, who became company chairman in 2014 and succeeded Victor Luis as CEO in September, is the latest in a series of top-level executives to depart over the last year.
What Luxury Can Do About the Tourism Crisis
The luxury business will feel the permanent effects of this unprecedented break in travel. In order to capture lost sales, the industry will need to evolve by rethinking marketing and distribution, from brick-and-mortar flagship stores to e-commerce experiences.
Richemont First-Quarter Sales Slump as Covid-19 Hits Jewellery Demand
The Cartier-owner's sales fell 47 percent to €1.99 billion ($2.27 billion), a similar decline posted by rival Swatch Group earlier this week.
Loewe's Brand Within a Brand: Is This the New Way to Do Diffusion?
LVMH-backed Loewe has acquired the colourful island label Paula’s with an eye to growing its vacation-wear business. It’s a more budget-friendly way to buy into designer Jonathan Anderson’s globetrotting bohemian vision.
Burberry Sales Rebounded in June. Why Did Its Shares Plunge?
While the pandemic is hurting all luxury brands, investors see specific challenges at Burberry.
Ferragamo Raises Prices by up to 7% to Weather Pandemic
In the first three months of 2020, Ferragamo's sales fell by nearly a third.
The Vampire’s Wife Plots Expansion Plan With a Surprising Investor
Jimmy Iovine and Liberty Ross have taken a majority stake in designer Susie Cave's bewitching dress line, which has found success outside the traditional fashion system. Can one of the music industry’s most legendary talent scouts help scale the business?
Brunello Cucinelli Expects Sales to Fall 10 Percent in 2020 as it Writes Down $34 Million in Excess Inventory
The Italian luxury group expects a recovery in the second half of the year.
Burberry To Cut Jobs at Headquarters
The move is a part of a reorganisation strategy as the company struggles to offset the economic fallout from the Covid-19 pandemic.
Where Does Burberry Go From Here?
This week, everyone will be talking about Burberry's first financial results since the lockdowns and the first major live fashion show in months. Get your BoF Professional Cheat Sheet.
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.