The e-commerce division of Saks Fifth Avenue is preparing to list in the first half of next year, according to a report published by The Wall Street Journal, quoting ‘people familiar with the matter’ as its source.
Gucci has unveiled a new pop-up in London’s Shoreditch district. Gucci Circolo Shoreditch is described as a neighborhood-centric temporary space where visitors can gather to discover the House’s collections and codes through an original, multi-sensory experience.
ASOS has announced a series of changes to its board and the departure of CEO Nick Beighton.
LVMH has accelerated a CSR program aimed at providing training and access to employment for younger generations. With its Craft the Future action plan, by 2022’s close, the luxury goods conglomerate aims to recruit 25,000 people under the age of 30, including 5,000 through internships or apprenticeships.
A consortium of Australian fashion brands is calling on the government to up its quota of Afghan refugees, according to a report published by The Guardian, promising to support incomers to find employment in the industry.
Dubai’s Emaar is reportedly mulling the sale of its fashion e-commerce business Namshi, according to a report by Reuters.
Richemont has announced the nominations of Jasmine Whitbread and Patrick Thomas for election to the Board of Directors. Their appointments are subject to the approval of shareholders at the 2021 AGM to be held on September 8, 2021.
Levi Strauss & Co has announced the planned acquisition of Beyond Yoga. The transaction will be financed with cash and is due to close in the fourth quarter of 2021, subject to regulatory approval. Financial and operational terms of the deal will be disclosed on closing.
Prada has reported a H1 revenues leap of 66 percent at constant exchange rates to €1.5 billion euros ($1.78 billion), joining its luxury peers in seeing a return to growth following pandemic downturns.
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.