LVMH reports H1 sales high as luxury fashion proves pandemic proof
LVMH has reported a net profit leap of 62 percent in H12021 as opposed to 2019, which was bolstered by record sales for its key fashion and leathers goods division, driven by Louis Vuitton and Dior.
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Selfridges for sale: UK department store goes on the market for £4 billion
UK department store Selfridges has been put up for sale by its owners, the Weston family, giving the luxury retail space a £4 billion price tag.
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LVMH buys majority stake in Virgil Abolh’s Off White label; designer lands bigger role
LVMH has become a majority investor in Virgil Abloh’s Off White label, having jointly agreed to pursue new projects across luxury categories.
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Bewakoof debuts beauty brand, Cosmos
Bewakoof has announced the launch of its first beauty and personal care line, according to a report published by Mint. The Indian D2C fashion brand’s first foray into cosmetics has been named Cosmos.
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Chanel cancels dividend payments as pandemic hits profits
Chanel hasn’t paid dividends to its owners for the past year, according to a report published by the Mail on Sunday, and is not proposing to pay a dividend that would usually be due this month.
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L Brands announces proposed Victoria’s Secret US$500 million offering of senior notes due 2029
Brands has announced that its subsidiary Victoria’s Secret is offering the sale of US$500 million aggregate principal amount of senior notes due 2029.
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Zalando teams up with Sephora to create online prestige beauty platform for Europe
Zalando and Sephora have announced that they have signed a strategic partnership to create an online prestige beauty destination for European shoppers.
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Victoria’s Secret rebrand: angels are out, activism is in
Victoria’s Secret has announced a significant change of tack in its marketing methods. Gone are the brand’s notorious ‘Angels’ and instead, the L Brands-owned underwear maker has announced the creation of The VS Collective of leading icons and change makers.
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Chanel revenue down 18 percent year on year; invests record capital in long-term value
Chanel has reported revenue of US$10.1 billion, down 18 percent year on year compared to 2019, citing a ‘highly disrupted environment’ that led to the closure of its boutique and manufacture network, and the suspension of international travel.
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Zara owner reports May sales above 2019 levels as store traffic bounces back
Inditex has reported a sales increase of some 50 percent in 1Q21 to €4.9 billion versus the prior year quarter with May sales above 2019 levels, indicating that consumption has bounced back after the pandemic shuttered stores.
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