Mercury/13 believes it has a winning strategy for women’s football teams: branding them as if they were luxury labels. Formed last year, Mercury/13 is an ownership group that has pledged $100 million to acquire women’s football teams worldwide and transform their commercial value. Today it unveiled a new visual identity for its first portfolio club, […]
French-Italian eyewear group EssilorLuxottica is buying New York-based streetwear juggernaut Supreme from US apparel group VF Corp. for $1.5 billion in cash, in a surprise deal announced Wednesday morning. The deal price represented a comedown from the $2.1 billion VF paid for the brand four years ago. Since VF acquired Supreme in 2020, excitement around […]
Athletic wear giant Adidas and fashion house Thom Browne resumed their legal battle on Wednesday, with London’s High Court hearing the latest round of a global dispute focused on their competing striped trademarks. New York designer Thom Browne, who regularly uses a four-bar stripe pattern, sued Adidas in London in 2021 to revoke several trademarks […]
LVMH has announced a significant change in its watch division leadership. Julien Tornare, formerly the CEO of TAG Heuer, will now lead Hublot. Known for its bold and innovative designs, Hublot collaborates with prominent figures like Usain Bolt and Kylian Mbappé. Tornare replaces Ricardo Guadalupe, who transitions to an honorary president role. In his statement, […]
James Purdey & Sons, a prestigious British brand owned by Richemont and known for its over 200 years of expertise, has appointed British designer Giles Deacon as its new creative director overseeing clothing, accessories, and brand image. Deacon succeeds Simon Holloway, who transitioned to Dunhill in 2023, another brand under Richemont’s portfolio. Giles Deacon is […]
Italy’s Competition Authority has launched an investigation into Giorgio Armani SpA and LVMH-owned Christian Dior Italia over allegations of unfair labor practices. The investigation focuses on claims that the brands sourced supplies from labs employing workers at inadequate wages and making them work excessively long hours under poor conditions. These practices, if proven, would sharply […]
Johnson & Johnson’s (J&J) second-quarter profit surpassed Wall Street’s projections, fueled by robust pharmaceutical sales. However, the company has lowered its full-year profit forecast due to recent acquisitions. Adjusted earnings for the quarter were $2.82 per share, exceeding analysts’ expectations by 11 cents. Although medical device revenue didn’t meet estimates, drug sales slightly outperformed predictions. […]
Luxury Brands Feel the Sting as Chinese Growth Slows Expectations for the second-quarter earnings season were already low in the luxury sector, but the slew of bleak reports have dashed hopes of a recovery in the second half. China’s economy grew much more slowly than expected in the last quarter as a protracted property slump […]
The USA’s strategic decision to review its trade regulations concerning Chinese semiconductor chips marks a pivotal moment in international trade dynamics. The proposal under discussion includes the Foreign Direct Product Rule (FDPR), a measure that could reshape global tech supply chains. The FDPR extends US jurisdiction over certain foreign-made products derived from US technology. If […]
The Federal Government and Innovation: A Case Study in Success Government initiatives often play a critical role in fostering innovation and driving business success. One such initiative is the federal government’s support for the clean energy sector, which offers a compelling example of how strategic governmental efforts can stimulate industry growth. In recent years, the […]
