The Costume Institute is gradually moving to reduce its reliance on the Met Gala, widely regarded as the fashion industry’s most influential event.
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.
On April 30, 2026, Italian luxury company Prada Group announced its revenue results for the first quarter of 2026. Net revenues rose 14% year-over-year to €1.428 billion, maintaining overall growth. However, organic growth came in at just 3%, signaling a clear slowdown in momentum.
The Estée Lauder Companies announced on April 29 that it has made a minority investment in 111SKIN, a luxury clinical skincare brand. Financial terms of the deal were not disclosed.
On April 30, German sportswear brand PUMA reported operating profit for the first quarter of 2026 that exceeded market expectations. While sales declined, disciplined inventory management and cost restructuring contributed to a clear improvement in profitability.
On April 30, Spanish fashion company Mango announced a capsule collection in collaboration with U.S.-based brand Eckhaus Latta.
On April 29, fashion shopping platform Lyst released the Q1 2026 edition of its quarterly benchmark, the Lyst Index.
On April 28, Spanish beauty and fashion company Puig announced its financial results for the first quarter of 2026.
Global fashion company H&M is accelerating its strategy across the U.S. and Latin American markets.
French fashion brand Lemaire is facing unexpected backlash in China following the release of a new visual campaign.
On April 27, Vinted, a leading player in Europe’s resale market, was reported to have reached a valuation of €8 billion. The milestone comes on the back of an approximately €880 million share transaction led by EQT.