Fast fashion brand Zara has announced that it will launch its secondhand clothing service, “Zara Pre-Owned,” in the U.S. starting in October 2024.
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Swedish fashion brand Axel Arigato has celebrated the grand opening of its highly anticipated first U.S. flagship store in New York City’s SoHo district.
On September 26th, LVMH announced that it had acquired a 10% stake in “Double R,” an investment vehicle managed by Ruffini. Double R currently holds approximately 15.8% of Moncler’s shares.
On September 26th, Wacoal Holdings Corporation announced that its UK subsidiary, Wacoal Europe Limited, has decided to acquire all issued shares of Bravissimo Group Limited.
French biotech skincare brand, Orveda, has expanded into the U.S. market by opening its first flagship store, “La Maison Orveda New York,” in Manhattan’s Upper East Side in September 2024.
On September 24, Estée Lauder announced the launch of its first “Beautiful Forces Grants” as part of its initiative to support women’s leadership.
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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.
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On December 23, Saks Global announced the completion of its acquisition of Neiman Marcus Group for a total enterprise value of $2.7 billion.
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On December 23, L’Oréal Group has announced an agreement to acquire Gowoonsesang Cosmetics Co., Ltd., a subsidiary of Swiss retail group Migros, which includes the South Korean skincare brand Dr.G.
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Kering, a leading conglomerate in the luxury industry, is moving forward with plans to bring in external investors for a new entity that will manage approximately €4 billion ($4.2 billion) worth of real estate assets spread across Milan, New York, and Paris.
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On December 16, New York-based brand management firm WHP Global announced an agreement to acquire the intellectual property (IP) of the VERA WANG brand, led by renowned fashion designer Vera Wang.
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On December 13th, Lucien Pagès Communication, a prominent PR agency based in Paris and New York, announced that it had become part of The Independents, a leading group in the luxury and lifestyle sectors.
Emporio Armani has announced that British actor Nicholas Galitzine has been chosen as the new global ambassador for its latest fragrance, Stronger with You Parfum.
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On January 1, Rosita Missoni, a designer who symbolized the Italian fashion world, passed away at the age of 93.
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Aine1 Joyeria’s jewelry collection embodies the very essence of such jewelry. Each piece, seamlessly combining the sleekness of geometric lines with the organic beauty of nature, reflects the life and vision of its designer, Lucía Medico.
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In 2003, the collaboration between Louis Vuitton and Takashi Murakami marked a groundbreaking moment, seamlessly blending fashion, art, and pop culture.
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On December 18, Highsnobiety, a culture platform based in Berlin, announced a new leadership structure.
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On December 13th, Lucien Pagès Communication, a prominent PR agency based in Paris and New York, announced that it had become part of The Independents, a leading group in the luxury and lifestyle sectors.
On December 18, Balenciaga opened its first standalone store in Austin, Texas. Located within the mixed-use metropolitan center of The Domain, the store features an extensive selection of the brand’s latest collections, including men’s and women’s ready-to-wear, shoes, bags, and accessories.
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The Parisian luxury jeweler, Boucheron, has opened its first boutique in Las Vegas, located within the opulent Fontainebleau Las Vegas.
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On December 16, Canadian fashion retailer Aritzia opened its new flagship boutique on Fifth Avenue in New York.
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Kim Kardashian’s shapewear brand SKIMS has opened its first flagship store on New York’s Fifth Avenue.
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Jil Sander, under the OTB Group, has announced the launch of its first-ever fine jewelry collection, marking a significant milestone in the brand’s history.
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The shapewear brand SKIMS, led by actress and entrepreneur Kim Kardashian, has partnered for the first time with the legendary outdoor brand The North Face to unveil a groundbreaking winter wear collection designed to transition seamlessly from ski slopes to après-ski lounges.
On September 16, the “Intertextile Shanghai Apparel Fabrics,” held in Shanghai, China, from August 29 to 31, announced that it had reached a historic milestone with its 30th anniversary edition.
