Saks e-commerce unit planning IPO?
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 brings its Circolo concept to London’s Shoreditch
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 CEO steps down as supply chain pressures hit profit
ASOS has announced a series of changes to its board and the departure of CEO Nick Beighton.
LVMH to recruit 25,000 under 30s worldwide
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.
Australian fashion brands pledge to support Afghan refugees
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 mulls sales of fashion e-commerce business Namshi
Dubai’s Emaar is reportedly mulling the sale of its fashion e-commerce business Namshi, according to a report by Reuters.
Richemont appoints two new Board Members
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 branches into activewear with acquisition of Beyond Yoga
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 becomes latest luxury company to report soaring H1 sales
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 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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