On May 12, the United States and China reached an agreement during a ministerial-level meeting held in Geneva, Switzerland, to temporarily suspend the retaliatory tariffs imposed on each other for a period of 90 days.
Business
In-depth analysis of the business, strategy, and economics shaping the global fashion and luxury industries. Covering conglomerates, market trends, startups, retail strategy, and the people driving the business of fashion.
Paris-based luxury eyewear brand IRON PARIS has announced a new partnership with the esteemed French maison Maison Bourgeat, renowned for over 140 years of artisanal eyewear production.
On May 6, U.S.-based fashion retailer Revolve Group, Inc. announced its financial results for the first quarter of 2025 (January–March), reporting revenue of $296.7 million, a 10% increase year-over-year.
On May 6, U.S. beauty giant Coty Inc. announced its financial results for the third quarter of fiscal year 2025 (January to March 2025).
On May 5, Skechers USA Inc. announced that it has agreed to be acquired by U.S. investment firm 3G Capital in a deal valued at approximately $9.42 billion.
Vancouver-based fashion brand Aritzia Inc. announced record-breaking financial results for the fiscal year ended March 2, 2025, with annual revenue rising 17.4% year-over-year to CAD 2.74 billion.
On May 2, Vince Holding Corp., the U.S.-based apparel company behind the luxury brand Vince, released its financial results for the fourth quarter and full fiscal year 2024.
French luxury house Chanel has closed its beauty concept store, Atelier Beauté Chanel, located on Wooster Street in New York’s SoHo district.
On April 30, Italy’s Prada Group, which centers around its flagship brands Prada and Miu Miu, announced net revenues of €1.341 billion for the first quarter of 2025 (January–March), marking a 13% year-over-year increase.
On April 29, Saks Fifth Avenue announced the launch of “Saks on Amazon,” a new curated storefront on Amazon Fashion’s Luxury Stores platform, dedicated to luxury fashion and beauty.