Louis Vuitton has partnered with the well-known Cheng family to make its catwalk debut in Hong Kong. The LVMH-owned luxury brand will debut Pharrell Williams’ pre-fall men’s collection in its first fashion show in Hong Kong.
Prada is said to be considering listing on the Milan Bourse. The Italian fashion designer is currently listed in Hong Kong and is mulling a dual listing on its home turf.
Hermes has published its results for the nine months to September 30, 2023 and third quarter. The luxury accessories label saw sales rise 16 percent versus to €3,365 million in the three months to September 30, 2023 versus the prior-year period, bringing yoy sales growth for the first nine months of the financial year to 22 percent at constant exchange rates.
Shein has set aside a pot of US$85 million for global community empowerment over the next five years. The fast fashion firm will use the fund to support stakeholders as part of its wider ESG program.
Frasers Group has announced that it is upping its stake in Asos. An official filing with the London Stock Exchange shows that the owner of Flannels has increased its share from 10.5 percent to 16.8 percent.
Hermes International has announced its results for the second quarter of fiscal 2023. Bucking the wider trend in luxury as US sales stall, the French designer reported a 28 percent rise in sales at constant currency to hit a total of €3,317 million.
LVMH Moët Hennessy Louis Vuitton reported a 15% revenue increase in the first half of 2023, amounting to €42.2 billion.
Spanish fashion and beauty manufacturer, Puig, plans to relocate its U.S. offices.
Skims, co-owned by Kim Kardashian and Jens Grede, has secured $270 million in its latest fundraising, lifting the company’s valuation to $4 billion
Sean “Diddy” Combs has initiated Empower Global, a digital marketplace catering exclusively to Black-owned businesses.