UK consumer confidence tumbled again in May — this time to its lowest level in almost 50 years — after the cost-of-living crisis deepened and concerns over the economy and personal finances grew.
Ermenegildo Zegna — CEO of the Italian luxury menswear house that bears his family name — declared this week that the suit isn’t dead as some people have suggested.
Hugo Boss has announced that its chief operating officer Heiko Schäfer is to leave the managing board of the business on May 31, “to pursue a new professional assignment outside the group”.
Richemont delivered full-year results on Friday and said the period to 31 March saw a “strong performance”, with a “significant step change in group sales and operating profit”. Its fashion ops also saw improvements.
Deckers Brands announced on Thursday revenues for the fiscal year 2022 increased 28%, on the back a strong fourth quarter which saw sales at the U.S. footwear group surge by more than 30%.
Havaianas' sales outside Brazil increased by 17% in the first quarter of 2022. Its strong performance was driven by the expansion of its network of mono-brand stores outside its domestic market.
Switzerland's Calida Group, owner of French lingerie brand Aubade, has acquired family-owned lingerie company Cosabella for $80 million (€75.8 million), as it looks to gain a foothold in the United States.
Global beauty giant L'Oréal is finalizing the acquisition of Byredo, backed by British fund Manzanita Capital, the owner of Diptyque and Malin+Goetz, according to a report from French newspaper Le Figaro.
VF Corporation announced on Thursday revenues for the fiscal year 2022 surged 28%, despite a slowdown in fourth quarter revenues, hindered by sales lags in its Asia-Pacific market.
British e-commerce company THG was at the centre of a bid battle on Thursday, rejecting an offer from two investment groups and learning that local entrepreneur Nick Candy was considering making a bid.
Canada Goose Holdings Inc, on Thursday forecast annual sales and profit above Wall Street expectations on hopes for a recovery in key China market and as demand for its luxury parkas and jackets stays strong.
Six months after a neighborhood fire scarred the center of Paris, destroying Benetton’s main French boutique, the Italian marque reopened its flagship this week, repainted in pink, expressing a newfound optimism.
Swiss duty-free retailer Dufry on Thursday posted 144.5% organic sales growth for the first quarter, supported by an uptake in travel in Europe and the Americas as coronavirus curbs were eased.
Yet more strong numbers from the commercial property sector on Thursday. Major London landlord Great Portland Estates joined its peers British Land and Landsec this week in delivering an upbeat performance for the year.
Burberry’s new CEO looks like he won’t be deviating too much from his predecessor’s luxury strategy and if anything, he’s likely to take the label even further upmarket, while also focusing on its British heritage.
