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France plans fashion revolution with climate-impact labels

France plans fashion revolution with climate-impact labels

Next year, France will pass a decree that will require every item of clothing sold in the country to carry a label detailing its precise climate impact.
Fashion
Prada seeks $1 billion valuation in Milan listing - Bloomberg News

Prada seeks $1 billion valuation in Milan listing - Bloomberg News

Italian luxury group Prada SpA is considering seeking at least $1 billion from a second listing in Milan and is working with Goldman Sachs Group Inc on early preparations, Bloomberg News reported on August 12.
Luxury
Ferragamo partners with Farfetch to grow online, reach younger shoppers

Ferragamo partners with Farfetch to grow online, reach younger shoppers

​Italian fashion house Salvatore Ferragamo has announced that it has struck a partnership with online luxury shopping retailer Farfetch to expand its digital presence, targeting younger shoppers.
Luxury
Capri Holdings and Ralph Lauren see strong Q1 demand, but profits are hit

Capri Holdings and Ralph Lauren see strong Q1 demand, but profits are hit

​Results on August 9 showed Ralph Lauren and Capri Holdings (owner of Michael Kors, Versace and Jimmy Choo) beating Q1 earnings estimates on buoyant demand for luxury as affluent shoppers shrugged off inflation.
Luxury
Richemont recommends shareholders vote against board candidate Trapani

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 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

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

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

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

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 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

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

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

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

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

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