Luxury
Ferragamo with 10% growth in sales
As of the 31st of March 2021, the Salvatore Ferragamo Group reported total revenue of 245 million euros, up by 10.3% at current exchange rates (+13.0% at constant exchange rates), which compares with 222 million euros recorded in the first quarter of 2020
Richemont acquires Delvaux
The Switzerland-based luxury goods holding company announced it has acquired 100% of Delvaux, the renowned Belgian luxury leather goods Maison, in a private transaction
CEO Marco Gobbetti is leaving Burberry by the end of the year
Burberry announced that Marco Gobbetti has notified the Board of his intention to step down as Chief Executive Officer and leave the company at the end of 2021. Mr. Gobbetti is joining Ferragamo
Richemont: profits rise despite falling sales
Despite a still uncertain economic scenario, luxury giant Richemont managed to register net profit rising by almost 40% in the fiscal year ending at the end of March 2021
Gucci is in the race for new materials
The Italian-based fashion brand is launching vegan versions of its New Ace and Rhyton sneakers made with an innovative raw material, alternative to leather. The material, called Demetra in reference to the Greek goddess of agriculture, is vegan and largely plant-based
Mytheresa joins Vestiaire Collective to offer resale service
Luxury e-commerce platform Mytheresa announced a partnership global app Vestiaire Collective. The partnership aims to drive the fashion industry’s shift towards more sustainable practices by introducing a resale service dedicated to Mytheresa’s high-end luxury customers
Fosun Fashion Group to acquire Italian shoemaker Sergio Rossi
The global luxury fashion group FFG based in China announced it has signed an agreement to acquire 100% of Italian luxury footwear brand Sergio Rossi from Absolute Luxury Holding S.r.l., an independently-managed investment subsidiary of Investindustrial V L.P.
Stuart Weitzman reduces losses substantially
In the fiscal third quarter ended on the 27th of March 2021, Stuart Weitzman managed to significantly cut its operating losses thanks to higher revenue and a reduction in expenses
Changes at Kering’s management
The France-based luxury group has announced a new position of Director of Strategy and nominated Mélanie Flouquet for the position. Ginevra Elkann is leaving the Board of Directors
Tapestry: sales of the group up by 19%
The New-York based house of modern luxury accessories and lifestyle brands, reported results for the fiscal third quarter ended on the 27th of March 2021. Quarter results above expectations with sales up by 19%
Guillaume Motte appointed Deputy CEO of LVMH
LVMH is strengthening the management of its Fashion Group division, which gathers brands such as Celine, Givenchy, Loewe, Emilio Pucci, Kenzo, Marc Jacobs and Patou. Executive Director Sidney Toledano will now have the support of Guillaume Motte
Nona Source: online resale platform for materials from LVMH Fashion & Leather Goods Maisons
The French multinational corporation and conglomerate specializing in luxury goods has announced the launch of Nona Source, the first online resale platform for “re-sourcing” materials from the Group’s Fashion & Leather Goods Maisons
Felipe Oliveira Baptista is leaving Kenzo
The Artistic Director of the French luxury fashion house Kenzo will step down from the role on the 30th of June 2021, after two years at the service of the LVMH's brand
Designer Alber Elbaz dies from COVID-19 complications
The designer died on the 24th of April in Paris, at the age of 59. He was most notoriously known for its collaboration with the French brand Lanvin, where he was creative director between 2001 and 2015
Tod's appoints Chiara Ferragni member of Board of Directors
This is the latest move of the Italian-based group to reach out to a younger generation. The Tod’s Group has appointed Chiara Ferragni as a member of its Board of Directors-
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