Giorgio Armani Posts 24% Profit Drop in Tough 2024, Steps Up Investments
The Milanese group was hit by declining revenues and a slight increase in operating costs but said it retained a long-term approach amid a sharp downturn in luxury demand.
luxury / Leather Goods
Why Jewellery Feels Like a Better Deal Than a Handbag
Jewellery brands have raised prices less than fashion labels, and now benefit from a stronger sense of lasting value.
Hermès Hikes Prices to Cover US Tariff Risk
Sales growth slowed in the first quarter, missing analyst expectations, but continued to outpace the broader luxury sector.
Coach Is the WNBA’s First Official Handbag Partner
The multi-year partnership is the latest collaboration in the growing intersection of fashion and sports.
Proenza Schouler Founders to Design LVMH’s Loewe
American designers Jack McCollough and Lazaro Hernandez will take the creative reins of the Spanish brand, which grew estimated annual revenues to more than $1.5 billion during Jonathan Anderson’s transformative tenure.
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Mytheresa’s Profits Soar Ahead of Its YNAP Acquisition
The German luxury e-tailer more than doubled its adjusted earnings in its second fiscal quarter that ended in December, providing a glimpse into how it will fare once its deal to acquire its competitor, Yoox-Net-a-Porter, is approved.
Luxury
Op-Ed | Louis Vuitton Needs Noughties Nostalgia and Taylor Swift
LVMH reported better-than-expected sales growth in the fourth quarter, but its performance lagged behind rivals like Richemont and Burberry. A Taylor Swift tie-up and nostalgic collaborations with Japanese artist Takashi Murakami may give the group a boost, writes Andrea Felsted.
Op-Ed | Louis Vuitton Needs Noughties Nostalgia and Taylor Swift
LVMH reported better-than-expected sales growth in the fourth quarter, but its performance lagged behind rivals like Richemont and Burberry. A Taylor Swift tie-up and nostalgic collaborations with Japanese artist Takashi Murakami may give the group a boost, writes Andrea Felsted.
Luxury
The Philosophy Behind Lemaire’s $100 Million Ascent
Demand for the Paris label’s androgynous, utilitarian wardrobe has grown ten-fold since 2019 as shoppers turn their back on logo-mania and embrace the brand’s more subtle ethos. ‘Reality isn’t a dirty word,’ says co-creative director Christophe Lemaire.
The Philosophy Behind Lemaire’s $100 Million Ascent
Demand for the Paris label’s androgynous, utilitarian wardrobe has grown ten-fold since 2019 as shoppers turn their back on logo-mania and embrace the brand’s more subtle ethos. ‘Reality isn’t a dirty word,’ says co-creative director Christophe Lemaire.
Inside Luxury’s Broken Audit System
LVMH-owned Dior missed glaring problems during an assessment of working and safety conditions in its production arm in Italy last year, according to a review of unpublished court documents.
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Luxury
Why Fashion Is Maxing Out on Minimalism
The Row’s success – including a recent investment from the families behind Chanel and L’Oréal at a unicorn valuation – is the most prestigious example of a rising generation of women-led independent brands that sell minimalist, approachably chic clothes. Some of them have billion-dollar aspirations of their own.
Why Fashion Is Maxing Out on Minimalism
The Row’s success – including a recent investment from the families behind Chanel and L’Oréal at a unicorn valuation – is the most prestigious example of a rising generation of women-led independent brands that sell minimalist, approachably chic clothes. Some of them have billion-dollar aspirations of their own.
The Coach-Michael Kors Deal Has Its Day in Court
Hours before its runway show during New York Fashion Week on Monday, Coach’s parent company, Tapestry, faced off with the FTC to prove its $8 billion acquisition of Michael Kors’ owner Capri isn’t anti-competitive.
Chanel CEO Says Price Hikes Driven by Inflation, Craftsmanship
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Luxury
Is Chanel’s ‘Absolute Luxury’ Push Working?
With prices and quality for its flagship handbags under scrutiny, can the French couture giant reclaim the narrative? "We're not perfect," fashion president Bruno Pavlovsky said. "We're aware that our positioning obligates us to always do better, and we try to always do better."
Is Chanel’s ‘Absolute Luxury’ Push Working?
With prices and quality for its flagship handbags under scrutiny, can the French couture giant reclaim the narrative? "We're not perfect," fashion president Bruno Pavlovsky said. "We're aware that our positioning obligates us to always do better, and we try to always do better."
The News in Brief
E-Commerce Firm Jumia Draws Takeover Interest From Axian
A deal between the biggest e-commerce platform in Africa and telecommunications company Axian would help both company expand across the continent.
Billionaire H&M Founding Family Speeds Up Share Purchases
The Persson family and its related companies owned over 60 percent of H&M's shares at the end of May, prompting speculation the company may return to private ownership.
Kate Moss’ Cosmoss Enters Liquidation
The prestige skincare and wellness line founded by the British supermodel entered liquidation proceedings after failing to file its company accounts.
Vivienne Westwood and Rei Kawakubo Paired for Blockbuster Exhibition
The two era-defining avant-garde fashion designers will be the subject of a major exhibition at the National Gallery of Victoria in Australia.
Exclusive: Smythson of Bond Street Acquired by Oakley Capital
The British luxury lifestyle brand, known for its leather handbags, notebooks, homeware and other accessories, will look to accelerate its growth and expand internationally.
L’Oréal to Acquire Hair Care Brand Color Wow
Hair care was the second fastest-growing category at L’Oréal last year after fragrances.
Bold Management Acquires Influencer Agency The Digital Prototype
The deal bolsters Bold’s talent management capabilities in France.