The chief executive and top shareholder of Moncler played down speculation around a takeover by Gucci-owner Kering on Thursday, saying the two firms sometimes talked but that there was no deal in the works.
As luxury giants continue to snap up the world’s top brands, could the latest move be Kering preparing to buy Moncler? It could be if news reports are to be believed, although neither company has commented.
Philip day’s Edinburgh Woollen Mill Group has reported higher profits and expansion in its luxury ops. The multi-brand group made net profit of £23.4m in its latest period with operating margins up to 10.25% from 8.27%.
Sales to international shoppers are predicted to continue to outperform sales to locals in the UK following a strong performance in the first 10 months of this year, according to data from VAT-reclaim specialist Planet.
Millennial and Gen Z consumers, especially from Asia, plus the growth of online, a booming secondhand market, and a desire for social responsibility are all pushing growth higher in the luxury market, a new study shows.
Luxe fashion names are focusing heavily on boosting their e-tail ops and Hackett said it has achieved 97% growth in international e-tail, three months after partnering with cross border e-commerce specialist Global-e.
Victoria Beckham’s fashion business remains loss-making and the latest accounts, for 2018, show that its losses widened last year as sales fell. But it also talked of profitable Q4 EBITDA for the current year.