Luxury
Golden Goose valued at up to 1.86 billion euros for IPO
The Italian luxury sneaker company is targeting a market capitalisation of up to 1.86 billion euros in its initial public offering on the Milan stock exchange, below earlier expectations
LVMH increases its stake in the Spanish tannery Riba Guixà
LVMH’s Métiers d’Art has signed an agreement to increase its stake in Riba Guixà, the Spanish tannery renowned for its expertise in tanning Enterfino lambskin
Capri results disappoint in the fourth quarter
As its ongoing acquisition by Tapestry awaits legal resolution after being blocked by a US regulator, the luxury fashion group reports a disappointing fourth quarter due to weak global demand
Golden Goose to list in Milan in June
The Italian Luxury sneaker brand Golden Goose plans to list on the Milan stock exchange in June, saying it will sell 100 million euros worth of shares to fund expansion and pay down debt
LVMH extends partnership with Alibaba
The French-based luxury group has extended its partnership with the Alibaba Group for the next five years to enhance its omnichannel strategies and digital presence in China
Weak performance in China affects Tod’s first quarter turnover
Ahead of the delisting, the Italian luxury group has reported a 6.7% year-on-year fall in turnover in the first quarter of the year, mainly due to a weak performance in the Chinese market
Burberry full year results hit by slowing luxury demand
The luxury group has reported a decline in both sales and profits amid a slowdown in demand for luxury goods, which particularly affected its performance in mainland China and the US
Ferragamo posts revenue decline
The Italy-based luxury group saw its revenue fall by 18% year-over-year in the first quarter of the year, mainly due to a weak Chinese market and a difficult wholesale environment
Miu Miu drives growth for Prada
The Italy-based luxury group posted a strong performance in the first quarter of the year, with the Miu Miu brand standing out with a retail sales growth of 89% as compared to the same period in 2023
Hermès reports strong first quarter
The luxury group reported a first quarter sales growth of 17% at constant exchange, as compared to the same period of last year, “with solid activity in all geographical areas”
Golden Goose welcomes Bizzarri to the board at a time of strong momentum
Former Gucci president and CEO Marco Bizzarri joins the board of the Italian luxury sneaker company as sales continue to grow, driven by strong performance across all regions
Marco Gobbetti confirmed as CEO of Ferragamo
The Italy-based luxury group has confirmed the appointment of Marco Gobbetti as Chief Executive Officer and General Manager of the luxury company until the end of 2026
Kering expects H1 recurring operating income to decline by 40-45%
The French-based luxury giant expects its first half operating profit to plummet by 40% to 45%, after reporting a 10% year-over-year fall in sales, largely due to the weak performance of Gucci
US regulator moves to block Tapestry’s acquisition of Capri
The Federal Trade Commission (FCT) has filed a lawsuit to block the merger of luxury fashion conglomerates Tapestry and Capri Holdings, arguing that it would lead to higher prices for US consumers
Harvey Nichols appoints new CEO
The British department store Harvey Nichols has announced the appointment of Julia Goddard as CEO. She joins the company from Alexander McQueen, where she spent 14 years-
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