Luxury

Gucci joins Alibaba's luxury e-commerce site

Dec 23, 2020 / China

One of the key brands of the Kering group's portfolio, will open two stores on Alibaba's online trading platform, in a move that underlines the importance of the Chinese market for luxury brands heavily affected by the coronavirus crisis

Alibaba Brands China ecommerce Fashion Gucci Luxury Online

Farfetch sets 10-year sustainability goals

Dec 18, 2020 / United Kingdom

The online fashion retailer has announced a set of sustainability goals for the next ten years divided in four main areas, ranging from being climate positive to promoting conscious inclusion

Environment Farfetch Fashion Footwear Luxury Online Sustainability United Kingdom

Chloé appoints Gabriela Hearst Artistic Director

Dec 9, 2020 / France

The Richemont-owned French luxury fashion house announced the appointment of Gabriela Hearst to the position of Artistic Director after making official the departure of Natacha Ramsay-Levi last week

Accessories Brands Companies Fashion Footwear France Leather goods Luxury Management People

Gucci, Burberry, Prada, Dior and Moncler win the Altagamma Digital Awards 2020

Dec 7, 2020 / Italy

The fourth edition of Altagamma Digital Awards revealed the winners. The distinction is given to Personal Luxury brands that standout for their digital leadership. The 2020 edition was organised in partnership with the National Chamber of Italian Fashion

Awards Burberry Digital Fashion Gucci Italy Luxury Prada

Longchamp President Philippe Cassegrain dies

Dec 3, 2020 / France

The creator of the iconic Le Pliage bag, Longchamp's historic President, was 83 years old and did not resist to complications related to COVID-19

Brands Companies Coronavirus - Covid19 France Luxury Management People

LVMH names Chris de Lapuente new CEO of Selective Retailing

Nov 30, 2020 / France

The French-based luxury giant has named Chris de Lapuente as the new Chairman and CEO of LVMH's division of Selective Retailing, effective from January onwards

Brands Companies Footwear France Luxury LVMH Management People

COVID-19 pushes luxury industry to its sharpest fall

Nov 23, 2020 / World

Global sales of luxury goods are expected to fall 23% to 217 billion euros this year, the biggest drop in its history and the first since 2009, due to the consequences of the coronavirus pandemic, consultant Bain & Company estimates

Brands Companies Luxury Retail Sales World

Eurazeo Brands buys Axel Arigato for 56 million euros

Nov 16, 2020 / Sweden

The global investment company is investing 56 million euros in Axel Arigato, a Swedish premium sneaker, ready-to-wear and accessories brand, to become a majority shareholder, alongside brand's founders Max Svärdh and Albin Johansson

Acquisitions Brands Companies Footwear France Investment Luxury Sweden

Burberry with growth in leather goods category

Nov 16, 2020 / United Kingdom

The UK-based luxury brand has announced a decline of 31% in revenue for the first semester of the current fiscal year. Despite that, Burberry is pleased with the year-on-year growth registered in the leather goods category

Brands Burberry Companies Coronavirus - Covid19 Fashion Luxury Quarter Results Results United Kingdom

Alibaba and Richemont invest in Farfetch

Nov 6, 2020 / China

Hangzhou-based e-commerce business Alibaba and Swiss-based luxury goods conglomerate Richemont SA will invest 1.1 billion US dollars (0.93 billion euros) in online luxury fashion retailer Farfetch and its new Chinese market operations

Alibaba China Companies Digital ecommerce Footwear Investment Kering Luxury Richemont

Tapestry with 14% decline in sales

Nov 2, 2020 / United States

Despite the falling sales performance registered in the first quarter of the new fiscal year, Tapestry says it is pleased with the achieved results, which are above the company's expectations

Brands Coach Companies Fashion Leather goods Luxury Quarter Results Results Shoes Tapestry United States

Hermès returns to growth

Oct 27, 2020 / France

Sales in the third quarter (+7% at constant exchange rates and +4% at current exchange rates) are driven by strong activity in the group's stores (+12% at constant exchange rates), the momentum in Asia and a significant improvement in all other geographical areas

Companies Footwear France Hermès Leather Leather goods Luxury Quarter Results Results Sales

Kurt Geiger plans 500 job cuts as UK's intends to end tax-free shopping

Oct 26, 2020 / United Kingdom

The luxury footwear and accessories retailer plans to cut 500 jobs, a quarter of its workforce, early next year after the British government announced that it plans to abolish tax-free shopping by the end of the current year

Brands Companies Coronavirus - Covid19 Footwear Luxury Management Tax United Kingdom

Kering overcomes expectations despite 4.3% sales decline

Oct 23, 2020 / United States

The luxury group announced consolidated revenue in the third quarter of 2020 of 3 717.7 million euros, down by 4.3% as reported. Double digit growth in North America and Asia-Pacific contributed to the period's performance

Brands Companies Footwear Kering Leather goods Luxury Quarter Results Results Sales Shoes United States

LVMH: fashion and leather goods division with improved revenue

Oct 21, 2020 / France

The luxury group recorded revenue of 30.3 billion euros in the first nine months of 2020, down by 21%. Revenue was down by 7% in the third quarter, reflecting an improvement in trends, with a return to growth in the Fashion & Leather Goods segment

Brands Companies France Leather goods Luxury LVMH Quarter Results Results Shoes

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