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.
Business
Stay updated with the latest global fashion business news and Informative insights.
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.
On February 6, cosnova Beauty, the Germany-based company behind essence and Catrice, announced that its 2024 revenue has surpassed $1 billion.
On February 4, Korean beauty retail giant Olive Young announced the establishment of its U.S. subsidiary, CJ Olive Young USA, in Los Angeles, California.