On December 20, Frasers Group, the retail group owned by Mike Ashley, a successful British high street business, will acquire the luxury e-commerce site Matchesfashion for just 52 million pounds ($63 million).
Retail
On December 18, luxury e-commerce platform Farfetch, which was on the verge of bankruptcy, was reportedly being acquired by South Korean e-commerce giant Coupang for $500 million.
On December 8, jewelry brand Swarovski opened its largest flagship store on Fifth Avenue in New York City.
On November 27, it was announced that Shein, the giant Chinese fast-fashion retailer, has confidentially filed for an initial public offering (IPO) in the United States.
Swedish fast fashion brand H&M will raise the price of garments produced in Bangladesh to compensate for higher wages for supplier workers.
On November 18, high jewelry brand Cartier opened a new boutique in New York City’s SoHo district. The new store is located at 102 Greene Street.
On October 24, luxury fashion house Hermes announced its third quarter sales. The company posted solid growth of 15.6% year-on-year, with only a slight slowdown in the pace of growth.
At the U.S. Open, which runs through September 10, luxury jewelry brand Tiffany & Co. is partnering with Snap Inc. and USTA to provide visitors with an interactive experience using immersive AR mirrors.
The popularity of SKIMS, the apparel brand co-founded by Kim Kardashian, continues unabated. In just four years since its founding, the brand has quadrupled its valuation to become a unicorn company.
Marc Jacobs Beauty is coming back with a new agreement with Coty, a beauty conglomerate that has created fragrances for numerous luxury brands.