On April 8, Bloomberg News reported that the French luxury brand Chanel is considering buying the 745 Fifth Avenue building in Manhattan.
Tag: LVMH
On January 25, French luxury conglomerate LVMH announced that it recorded revenue of €86.2 billion in 2023, equating to organic growth of 13% with respect to 2022.
On January 5, it was announced that Frédéric Arnault, chief executive of Swiss sports watch brand TAG Heuer, will become CEO of the LVMH watches.
After three years as Creative Director of Givenchy, Matthew Williams will exit the position in January 2024 following the Pre-Fall 2024 collection.
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.
Tapestry, the parent company of Coach, is acquiring Capri Holdings, which owns fashion brands such as Michael Kors, Versace, and Jimmy Choo. The purchase price is approximately $8.5 billion.
The Global Fashion Summit, the world’s largest fashion sustainability event, was held in Copenhagen from June 27-28. The event was attended by major conglomerates including LVMH and PVH, innovative startups such as Hilos and Circulose, charities like the Or Foundation, and prominent policymakers from Europe and the US.