Luxury
LVMH says its first quarter showed good resilience
The French-based luxury group recorded revenue of 10.6 billion euros for the first quarter of 2020, down by 15% compared to the same period in 2019 and down by 17% on an organic basis
LVMH cancels prize final and launches solidarity fund
As a result of the Covid-19 pandemic, the final of the 7th edition of the LVMH Prize for Young Fashion Designers, originally scheduled on 5th June 2020 at the Louis Vuitton Foundation, has been cancelled
Tapestry stores continue closed in many locations but China re-opened
Tapestry has extended store closures in North America and Europe for an additional two weeks (through the 24th of April). Stores in China have re-opened
Sergio Rossi dies at 84
Unanimously named a footwear legend Italian Sergio Rossi has built a successful luxury footwear brand and has inspired generations of designers
Chanel workshops to make face masks
The French-based luxury fashion group said it will launch production of face masks to increment the supply in France, as the coronavirus spreads across the country
Burberry expects 30% drop in sales
The British-based luxury brand is already forecasting the hit from the impact of the Covid-19 pandemic. Burberry announced it is expecting a 30% decline in sales for the first quarter of 2020
Kering donates 2 million euros to hospitals
The French-based group, owner of brands such as Gucci, Yves Saint Laurent or Balenciaga has announced their contribution to the fight of the coronavirus outbreak
LVMH changes production from perfumes to hand sanitizer
The French-based luxury giant announced its production facilities for the cosmetics branch will start to manufacture large quantities of hydro-alcoholic gel
Tapestry with key executive appointments
The luxury house has appointed Liz Fraser as CEO & Brand President for Kate Spade; Giorgio Sarné as CEO & Brand President for Stuart Weitzman and Yann Bozec as President of Tapestry Asia Pacific
Louis Vuitton to open its largest store in Japan
The main brand of the LVMH's portfolio, Louis Vuitton, will open its largest store in Japan in Osaka in February. At the same time the brand will open its first cafe and restaurant
Saint Laurent to open new leather goods factory in Italy
French luxury brand Saint Laurent, which belongs to the Kering group, will open a new location for handbags and wallets near Florence
LVMH acquires stake in Masoni tannery
The French-based luxury group acquired a minority stake in the Santa Croce sull'Arno (Florence) tannery Masoni Industria Conciaria SpA stock package. The deal was made through the LVMH division Métiers d' Art
Jordan Brand and Dior in collaboration
During the Fall 2020 Dior men's collection, Maison Dior and Dior men Artistic Director Kim Jones revealed the first silhouette for the forthcoming Jordan Brand x Dior collection: Air Jordan I High OG Dior
Kate Spade CEO & Brand President leaves Tapestry
The New York-based group has announced that Anna Bakst, CEO and Brand President of Kate Spade, will be departing the company at the end of the calendar year
Cavalli has a new owner
Hussain Sajwani's investment company Vision Investments has announced that it has completed the acquisition of the Italian fashion company from the fund Clessidra-
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