On May 7, Swiss luxury jewelry giant Richemont announced that it acquired 100% of Vhernier S.p.A. (“Vhernier”), the distinctive Italian jewelry Maison, in a private transaction.
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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.
Jacquemus, the southern French fashion house, recently unveiled its new headquarters office in the 8th arrondissement of Paris.
On April 25, the Hermès Group reported consolidated sales of €3,805 million for the first quarter of 2024.
On April 23, Kering, one of France’s giant luxury conglomerates, announced that it expects a 40%-45% decline in operating income for the first half of the year, following a drop in first-quarter sales for its flagship Gucci brand.
On April 18, Beautycounter, a well-known clean beauty brand, was bought back by founder and CEO Gregg Renfrew.
British leather shoe brand Dr. Martens has filed a lawsuit against Chinese online retailer Temu.
KIKI World, a Los Angeles-based company that sells beauty products such as temporary hair paint and a liquid makeup pen, recently raised $7 million in funding from investors including New Incubation Ventures (NIV), the investment arm of Estee Lauder Inc.
On April 8, Bloomberg News reported that the French luxury brand Chanel is considering buying the 745 Fifth Avenue building in Manhattan.
Despite increasing scrutiny of fast fashion from a sustainability perspective, Shein, known as “ultra fast fashion,” has more than doubled its profits to more than $2 billion.
British luxury e-commerce site Matches is set for an administration filing, about two months after being acquired by the Frasers Group led by Mike Ashley.