On January 30, Spanish luxury fragrance and fashion company Puig announced that its Q4 2024…
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On January 28, the U.S.-based M2C brand Quince announced that it had raised $120 million in Series C funding.
On January 27, the British Fashion Council (BFC) announced that it had secured additional funding from the UK government to support the upcoming London Fashion Week, scheduled to take place from February 20 to 24, 2025.
On January 27, Stella McCartney announced that she had repurchased the minority stake in her brand previously held by LVMH Moët Hennessy Louis Vuitton.
On January 22 (local time), FASHIONPHILE, the luxury resale platform, announced that it achieved a 67% year-over-year increase in profits for 2024, marking the highest growth in its history.
On January 9, Macy’s, the iconic American department store chain, announced the closure of 66 additional stores as part of its “Bold New Chapter” strategy.
On January 9, Paris-based fashion brand Y/Project, renowned for its avant-garde designs, announced it would cease operations, marking the end of 14 years of innovative and boundary-pushing creativity in the fashion world.
On January 7, Spanish textile giant Sociedad Textil Lonia (STL) announced its acquisition of the iconic French fashion brand Christian Lacroix.
On January 2, Carmell, a company specializing in the bio-aesthetics sector, announced that it had signed a definitive agreement to acquire Elevai Skincare’s skincare and haircare business.
The Challenges Faced by the Luxury Industry in 2024: LVMH, L’Oréal, and Kering Suffer Massive Losses
In 2024, the leading figures of France’s luxury industry encountered unprecedented challenges.