Farfetch posts record revenue for 2022 despite Q4 dip
Farfetch has announced its results for the fourth quarter and full year 2022. The online luxury fashion retailer posted record revenue of US$2.3 billion for the year ended December 31, 2022, up 3 percent year-on-year, despite a 5 percent drop in Q4 revenue.
Gucci to launch hub for circular luxury in Italy
Gucci, with the support of Kering, has announced the launch of the first hub for circular luxury in Italy. The center aims to accelerate the circular transformation of the Italian fashion industry’s production model.
Balenciaga and Gucci hit Kering’s Q4 revenues
Sales at luxe beauty company Kering have fallen 7 percent in Q4.
Chanel becomes latest brand to channel K-Pop with NewJeans’ Minji appointment
Chanel has appointed K-Pop star NewJeans’ Minji as its official brand ambassador in the fashion, watch and beauty categories.
Louis Vuitton taps Pharrell Williams as new Men’s Creative Director
Louis Vuitton has named musician Pharrell Williams as its new Men’s Creative Director, effective immediately.
Skincare brand Olehenriksen appoints fashion designer Anine Bing as first Global Scandi Brand Advisor; marks 40th anniversary
Skincare brand Olehenriksen has announced the appointment of fashion designer Anine Bing as its first Global Scandi Brand Advisor.
Fashion platform Moda Operandi launches into Beauty section
Fashion platform Moda Operandi has launched into the beauty sector, launching 55 55 skincare, fragrance, makeup, haircare, and body care brands.
JP Morgan must defend itself in court, over Ray Ban dispute says judge
A New York judge has given the go-ahead for a lawsuit bought by EssilorLuxottica against JP Morgan. The Thai division of the maker of Ray Ban sunglasses claims that the bank ignored ‘red flags’ of suspicious activity, according to a report published by Nasdaq, quoting Reuters.
Boohoo more than doubles stake in Revolution Beauty to become largest shareholder amidst accountancy probe
Boohoo has more than doubled its stake in Revolution Beauty to become the cosmetic brand’s largest shareholder.
LVMH hosts Show Me event in Paris to promote and preserve the Métiers d’Excellence
LVMH has hosted its Show Me event in Paris, which is said to highlight a year of concrete initiatives that ‘bring generations together to pass on, celebrate and preserve the Group’s exceptional Métiers d’Excellence.’
Alessandro Michele steps down as Gucci Creative Director
Kering has announced that Alessandro Michele is to step down as Creative Director of Gucci, which he has been at the helm of since 2015.
The Estée Lauder Companies finalises Tom Ford brand acquisition in US$2.8 billion deal
The Estée Lauder Companies (ELC) has announced it has signed an agreement to acquire the Tom Ford brand and all its intellectual properties in a deal worth US$2.8 billion.
Has Estee Lauder clinched Tom Ford deal for US$2.8 billion?
The Estee Lauder Companies is poised to clinch a deal for Tom Ford for US$2.8 billion, according to a report published by the Financial Times. At the time of writing, an official announcement was expected imminently but was not released before our news deadline.
LVMH partners with Circular Bioeconomy Alliance to support African cotton farmers
LVMH is partnering with the Circular Bioeconomy Alliance in support of its latest Living Lab with a regenerative agriculture project based in Chad.
Kering could be entering the fray for Tom Ford and the markets like it
Shares in Kering rose at the close of last week as rumors that the owner of Gucci was in the running to acquire Tom Ford swirled around the markets, according to a report published by Reuters.
L’Oréal names President, Mugler Fashion and Fragrances
L’Oréal has named Daniele Lahana-Aidenbaum Global President of its recently acquired Mugler fashion and fragrance brand, according to a report published by Fashion Network, effective immediately.
Ganni teams up with Submission to launch beauty line
Scandi fashion brand Ganni has unveiled its first foray into the cosmetics world – a line of biodegradable cosmetic glitter produced in collaboration with Submission Beauty.
Max Factor China launches first collaboration with fashion incubator Labelhood
Coty-owned Max Factor China has launched its first collaboration with fashion incubation community Labelhood.
Now Valentino announces blackouts
Valentino has announced that it will be switching off the lights in stores at 10pm each night in a bid to help save energy among the ongoing threat of shortages this winter, according to a report published by Reuters.
L’Oréal Paris takes over the runway at Paris Fashion Week
L’Oréal Paris staged its own runway show in the center of Paris to mark the French capital’s Fashion Week, according to a report published by Reuters.
Turn DOWN the heat: Louis Vuitton dials down the thermostat amid energy crisis
LVMH’s signature fashion brand, Louis Vuitton has announced that it will be adjusting the thermostats and turning off the lights earlier as part of energy saving measures designed to help the label do its bit to combat the energy crisis this winter, according to a report published by The Guardian.
A mark of respect: Burberry and Raf Simons cancel LFW shows following death of Queen
Following the death of Queen Elizabeth II last week, British brand Burberry and designer Raf Simons have both announced that their catwalk shows will not proceed next week as originally planned as ‘a mark of respect’.
Elle China Editor-in-Chief Nicole Xue to leave the publication after three years
Elle China Editor-in-Chief Nicole Xue is set to leave the Hearst-owned publication after almost three years, according to WWD.com.
Farfetch and Alabbar to acquire Yoox Net-a-Porter in a bid to ‘advance the digitalisation of the luxury industry’
Farfetch and Alabbar are set to acquire a 47.5 percent and 3.2 percent stake, respectively, in Yoox Net-a-Porter, which will make YNAP a neutral platform with no controlling shareholder.
Stella McCartney to debut minimalist, clean skin care line
Fashion designer Stella McCartney is set to launch a skin care line that promises to be minimalist, sustainable and clean, according to a report published by WWD Beauty.