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Richemont recommends shareholders vote against board candidate Trapani
Richemont has asked shareholders to reject a candidate from Bluebell Capital Partners as a representative of ordinary shareholders and vote against his election to the luxury group's board at its upcoming AGM.
Luxury
Tapestry names Scott Roe to dual role of CFO and COO
Tapestry, the owner of Coach, Kate Spade, and Stuart Weitzman, has given Scott Roe, its current chief financial officer (CFO), additional responsibility as chief operating officer (COO) of the company.
Luxury
Gucci now accepts ApeCoin cryptocurrency in select US stores
Italian fashion house Gucci has announced on Twitter that it will now accept ApeCoin — the Bored Ape Yacht Club’s proprietary cryptocurrency — for purchases at select stores in the US.
Luxury
Balenciaga strikes deal with Reliance for India entry
Kering’s unstoppable Balenciaga brand has a giant new market to target. On August 4, Reliance Brands Limited said it has signed a strategic deal with the “hottest global luxury brand” to bring it to the Indian market.
Luxury
Tod's founder launches bid to delist shoemaker
The founder and largest shareholder at Italy's Tod's has decided to launch a takeover offer on the luxury shoemaker with the aim of delisting it from the Milan stock exchange, the family holding company said Wednesday.
Luxury
Eurozone retail sales drop more than expected in June as prices rise
Euro zone retail sales plunged more than expected in June as prices at factory gates continued to rise, data showed Wednesday, signalling a weakness in consumer demand that could herald a recession in H2.
Fashion
SMCP hits first-half sales record as Europe and America prove buoyant
SMCP unveiled an all-time H1 sales record with its results on the first day of August, driven by “strong momentum in Europe and Americas”, something other premium and luxury firms have also talked of.
Fashion
Aeffe group’s revenue up 13.9% to €176.5 million in H1
The Italian fashion group, owner of Alberta Ferretti, Moschino and Pollini, closed H1 2022 with a gross operating margin (EBITDA) of €20.9 million and a net profit of €2.9 million, down from €13.3 million in 2021.
Luxury
Sales and profit boom at Hermès in H1, China bounces back at end of period
Hermès saw a sales boom in Q2 as — like its luxury peers — it enjoyed strong growth in Europe and the US with China also recovering during June towards the end of the quarter.
Luxury
Prada weighs dual listing in Milan, but says not a priority
A secondary listing in Milan is a possibility, but not a priority for Hong Kong-listed Italian luxury group Prada, its chairman said on Thursday, adding no decision had been taken on the issue.
Luxury
The RealReal to offer comic book, trading card grading services
Luxury consignment retailer The RealReal announced on Wednesday a partnership with Beckett Collectibles to offer comic book and trading card grading services.
Luxury
Puig increases its stake in Colombian brand Loto del Sur
After recently acquiring Byredo, the Spanish group has once again reached for its wallet and acquired a majority stake in the natural cosmetics firm founded by Johana Sanint, who will remain at the helm of the brand.
Luxury
Sales growth at Kering’s Gucci slows in Q2 as China weighs
Sales at French luxury group Kering's top brand Gucci rose by just 4% in the second quarter, the group said on Wednesday, as a new round of lockdowns weighed on revenues in the key Chinese market.
Fashion
Moss Bros opens Jermyn Street and other new stores, rolls out casual line
Moss Bros is extra busy with the menswear specialist opening four new stores, including a concept store on London’s Jermyn Street. It’s rolling out its casual offer to all of its locations too.
Fashion
Professor Jimmy Choo's academy to host debut LFW show with Patrick McDowell
Designer Jimmy Choo’s JCA/London Fashion Academy is to host its first-ever London Fashion Week show on 19 September, along with its ‘designer-in-residence’ Patrick McDowell.
Luxury
Latest Lyst Index shows collabs are key, Diesel bag is top women's product
Gucci was back in top spot in Q2 as the Lyst Index showed a surge in popularity on the back of its Adidas collab. In fact, collaborations were hot this quarter, while summer items, Diesel and 'naked' dresses also surged.
Fashion