On April 25, the Hermès Group reported consolidated sales of €3,805 million for the first quarter of 2024.
Retail
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.
Swarovski Opens First Italian Flagship Store in Milan
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.
Thom Browne recently collaborated with Saks Fifth Avenue, a luxury department store in the United States, to launch a limited edition capsule collection.
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.
Burberry, the iconic British luxury brand, has launched a new Texas store and a limited-time pop-up in California.
Urban Outfitters, Inc, which owns Urban Outfitters, Anthropologie, and Free People, recently opened a new distribution center in Raymore, Missouri, for its women’s subscription rental clothing service platform, Nuuly.
On February 5, a new H&M store opened in Soho, New York. The new H&M concept store will offer a unique and modern shopping experience, introducing fashion-forward womenswear, sophisticated styling, and North America’s first shop-in-shop featuring carefully selected pre-owned merchandise.
On February 26, when Paris Fashion Week kicks off, Issey Miyake will open a new flagship store in the 8th arrondissement of Paris.