On October 22, former Abercrombie & Fitch CEO Mike Jeffries was arrested on sex trafficking charges.
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 September 15, French luxury conglomerate LVMH (Moët Hennessy Louis Vuitton) announced its third-quarter results for 2024. Although overall sales reached €19.076 billion (approximately $21 billion), organic sales declined by 3%, falling significantly short of analysts’ expectations.
On October 13, the major shareholder of the British luxury brand Mulberry, operated by the Mulberry Group, issued a statement declaring that it has no intention of selling its shares in response to Frasers Group’s takeover proposal.
On October 10, AMTD IDEA Group, based in Hong Kong, announced that the renowned French fashion magazine L’Officiel has made its full-scale entry into the Japanese market with the launch of L’Officiel Japan.
On October 10th, Bloomberg reported that Lazada, a subsidiary of Alibaba Group, is partnering with top European fashion brands to achieve $100 billion in e-commerce volume by 2030.
On October 7, 2024, Mytheresa (MYT Netherlands Parent B.V.) announced that it has signed an agreement to acquire all shares of the Italian online fashion retailer Yoox Net-a-Porter Group (YNAP), owned by Richemont.
On September 30, LVMH announced the sale of Off-White to Bluestar Alliance LLC, a New York-based brand management company.
On September 26th, LVMH announced that it had acquired a 10% stake in “Double R,” an investment vehicle managed by Ruffini. Double R currently holds approximately 15.8% of Moncler’s shares.
On September 26th, Wacoal Holdings Corporation announced that its UK subsidiary, Wacoal Europe Limited, has decided to acquire all issued shares of Bravissimo Group Limited.
It has been revealed by sources that the Wertheimer family, owners of Chanel, and the Bettencourt family, owners of L’Oréal, have acquired a minority stake in the fashion brand The Row, established by the Olsen sisters.