LVMH Reports Strong 2023 Growth
LVMH Moët Hennessy Louis Vuitton reported €86.2 billion in revenue, a 13% increase from the previous year, with most business groups showing strong performance, except for Wines & Spirits.
LVMH Announces New Fashion Leadership
LVMH has announced a significant change in its executive team: Michael Burke is appointed as the Chairman and CEO of the LVMH Fashion Group, effective February 1, 2024.
Dior names Jay Chou Global Ambassador for Fashion
Dior has drafted in Jay Chou, as its next Global Ambassador. The Taiwanese pop star, who has just completed his Carnival world concert tour featuring costumes designed by the French fashion label, is the first Mandopop artist to take up this coveted role.
Chanel brings Manchester to a standstill with Metiers D’Art show
It’s official, the north of England has officially been put on the map after Chanel staged its Metiers d’Art event in Manchester. Several road closures were in effect as the French fashion brand constructed an outdoor catwalk in the city’s Northern Quarter leading up to the show.
Zara Launches New Hair Line
Zara is entering the hair product market with a new line called “Zara Hair,” developed in collaboration with hairstylist Guido Palau.
HeiQ Launches Biobased Skin Care Textiles
HeiQ, a leader in textile innovation, has developed HeiQ Skin Care, a 100% biobased textile finishing technology.
Balenciaga takes music into fashion – literally – with NFC chip
Balenciaga is extending its Balenciaga Music project from playlists to its fashion collections with some clever garment tech that allows an exclusive track to be played via a NFC chip embedded into limited edition T-shirts and hoodies.
Louis Vuitton teams up with Cheng family to stage brand’s first fashion show in Hong Kong
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.
Dior cuts the ribbon on Saks Fifth Avenue takeover
Saks and Dior have cut the ribbon on their collaborative holiday campaign with the launch of an exclusive World of Dior digital pop-up on Saks.com and the unveiling of the department store’s New York flagship’s 10-storey-high light show.
Asket’s Environmental Impact Transparency Initiative
Asket, a Stockholm-based company, has introduced an “impact receipt” for its garments, detailing environmental data such as carbon emissions, water use, energy consumption, and the impacts of shipping and packaging.
Shein Targets High IPO Valuation
Shein, the online fast fashion retailer, is aiming for a valuation of US$80 to US$90 billion for its potential U.S. initial public offering (IPO).
Asos Launches First Physical Pop-Up
Asos, the online fashion retailer, is set to open its first physical pop-up store in London. This innovative venture, named “Asos In Real Life,” will open from November 23 to 26, coinciding with the Black Friday shopping season.
Dior Opens Holiday Pop-Up Boutique in Miami
Dior is opening a new pop-up boutique in Miami called the “Dior Garden of Dreams,” inspired by the Jardin des Tuileries.
Hong Kong-listed Prada to explore dual listing
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 Q3 2023: sales up 16 percent to €3,365 million
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.
Anna Bartle Joins CHANEL Sustainability
Anna Bartle has been appointed the Global Head of Sustainability Content and Engagement at CHANEL, reporting directly to the Chief Sustainability Officer, Kate Wylie.
Farfetch-Yoox Deal Gets EU Approval
European authorities have approved Farfetch’s acquisition of a 47.5% stake in Yoox Net-A-Porter (YNAP) from Richemont.
Macy’s Launches Digital Fashion Platform
Macy’s has introduced a new digital engagement platform, mstylelab, combining digital and physical elements of fashion retail.
Marcelo Claure Steps Up as SHEIN’s Group Vice Chairman
Marcelo Claure, former CEO of SoftBank Group International and current investor, has been appointed SHEIN’s Group Vice Chairman.
Revamping Radiance: H&M Beauty and Raóul Alejandre Unveil Collaborative Makeup Rebirth
H&M Beauty is embarking on a vibrant collaboration with Raóul Alejandre, reinvigorating its makeup brand with an exciting array of mascaras, blush, lipsticks, and more.
Shein to pile US$85 million into CSR initiatives
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.
Prada Blooms Worldwide: Star-Studded Campaign Pairs with Global Seed Initiative
Italian luxury fashion house Prada, is bringing its fall ad campaign to life, prominently featuring Benedict Cumberbatch alongside stars like Li Xian and Letitia Wright, with a unique worldwide gesture involving flowers.
Frasers ups stake in Asos
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.
Sniffing Out Gen Z: Austin Butler & The MYSLF Revolution
Austin Butler is the new global ambassador for Yves Saint Laurent Beauty’s men’s fragrance, MYSLF.
Luxury slowdown, what luxury slowdown? Hermes sees sales soar 28 percent in Q2 2023
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.
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