Neiman Marcus, one of the leading luxury department stores in the U.S., has announced the closure of its Dallas flagship store on March 31, 2025.
Business News
In-depth guides exploring the structure, strategies, and business dynamics shaping the global fashion and luxury industry. From luxury conglomerates to fashion week economics, this section breaks down complex industry topics into accessible, evergreen analysis.
On February 20, German footwear brand Birkenstock Holding plc announced its financial results for the first quarter of fiscal year 2025 (October to December 2024).
On February 19, Tapestry, Inc. (NYSE: TPR) announced that it had signed an agreement to sell its luxury footwear brand Stuart Weitzman to Caleres (NYSE: CAL), a leading company in the footwear industry.
Luxury e-commerce platform Yoox Net-a-Porter (YNAP), under the ownership of Richemont, has announced its decision to withdraw from the Chinese market.
On February 14, Hermès announced its Q4 2024 and full-year results, demonstrating strong growth despite the ongoing stagnation in the luxury market.
On February 13, Moncler Group announced that its full-year 2024 revenue reached €3.1 billion, a 7% increase year-over-year.
On February 11, global brand management company Bluestar Alliance LLC announced the acquisition of luxury streetwear brand Palm Angels.
The Brooklyn Museum in New York has announced a major cost-cutting initiative in response to a projected $10 million budget deficit.
On February 11, French luxury conglomerate Kering released its Q4 2024 financial results, reporting revenue of $4.5 billion (€4.39 billion), a 12% decline year-over-year.
On February 7, L’Oréal Groupe announced the signing of a long-term and exclusive beauty partnership with Jacquemus, a fashion brand originating from southern France.