Luxury
Gucci partners with Ellen MacArthur Foundation
The Italian-based fashion House announced that it became a strategic partner of the Ellen MacArthur Foundation to accelerate its commitments towards a more circular economy
Global personal luxury goods market to reach 360 to 380 billion euros by 2025
Despite the challenges and disruptions that happened at the start of 2022, the global luxury market will reach 360 to 380 billion euros by 2025, following the rebound experienced in 2021
Ferragamo opens NFT booth in Soho's concept store
The space, conceived as a new retail experience and creative hub, includes a hologram sneaker customization tool and an immersive NFT boot that allows customers to create their digital artwork
Burberry renews partnership with Myhtical Games
The luxury group revealed its second NFT collection with Mythical Games in its flagship Blankos Block Party. The collaboration includes social spaces for communities within the game
Roberto Massardi is Prada's new Chief Business Development Officer
The Italian luxury brand appointed Roberto Massardi as chief business development officer in May. Mr. Massardi will be responsible for the strategic development of the group
Farfetch to accept cryptocurrency payments
The luxury e-tailer will enable cryptocurrency payments for private clients on its marketplace in the coming months and then expand to all customers in the US, the UK, and Europe from late 2022
Capri Holdings supports creation of the Versace Foundation
The company has guaranteed 10 million US dollars for the new foundation. The aim of the initiative is to support equality, wellness and safety for the LGBTQIA+ community
Government in Pakistan imposes ban on luxury goods' imports
The Federal government of Pakistan has decided to impose a ban on the import of luxury goods. The measure is being announced as a preventive step to obviate the threatening default and contribute to control the escalating hike in the dollar against rupee
Capri with revenue and earnings increase
The luxury fashion group reported that revenue and earnings for the full year of 2022 exceeded expectations. Total revenue amounted to 5.65 billion US dollars
Farfetch announces first quarter results
The luxury e-commerce platform posted revenue and GMV growth in the first quarter of 2022 despite COVID-19 related restrictions in China and the ceasing of operations in Russia
Tod's with sales increase
The Italian-based luxury group posted revenue growth of 23% in the first quarter of 2021, as compared to the same period last year. Sales in the American market accelerated by 68%
Ferragamo posts revenue growth
The luxury group reported a revenue increase of 23.2%, reaching 289 million euros, in the first quarter of 2022. Growth in Asia-Pacific slowed down due to COVID-19 outbreaks in China-
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