Shein cuts ribbon on EMEA headquarters
Shein has announced the official opening of its Europe, Middle East and Africa (EMEA) headquarters in Dublin, Ireland.
Former Louis Vuitton CEO tipped to head up LVMH Fashion Group
The former CEO of Louis Vuitton, Michael Burke, is rumoured to be the favourite to become the Chairman and CEO of LVMH Fashion Group, according to a report published by Bloomberg quoting an online fashion publication.
Saint Laurent launches a film-making arm
Saint Laurent has opened a film production company named Saint Laurent Productions, according to a report published by Variety. The initiative is said to be the darling of Artistic Director, Anthony Vaccarello.
Inditex gets green light to sell Russian business
Inditex has been given the go-ahead to sell its Russian arm, according to a report published by The Financial Times. The clothing behemoth will offload its stores in its second-biggest market to UAE-based Daher Group.
Bernard Arnault’s net worth crosses US$200 billion milestone
LVMH Founder, CEO and Chairman, Bernard Arnault has become the third billionaire ever to see his net worth exceed the US$200 billion mark. The luxury goods joins Elon Musk and Jeff Bezos at the top of the record personal wealth charts, according to a report published by Bloomberg.
Istituto Marangoni launches Fragrance & Cosmetics academic program
Istituto Marangoni has announced the launch of what it is claiming to be the first extensive academic offer dedicated to the world of fragrances and cosmetics. The programs target candidates aspiring to a career in the industry.
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.
Balenciaga and Gucci hit Kering’s Q4 revenues
Sales at luxe beauty company Kering have fallen 7 percent in Q4.
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.