The luxury goods sector is facing significant challenges, as highlighted by Frédéric Grangié, president of Chanel Watches and Jewellery, in a recent interview with Swiss newspaper Le Temps. According to Grangié, the predominant issue plaguing the industry is not just external economic factors or wavering markets like China; rather, it is a deep-seated “luxury fatigue” […]
The RealReal Names Rati Sahi Levesque as New CEO
After less than two years in the role, John Koryl has stepped down as CEO of The RealReal, the prominent online luxury consignment platform. The company announced this leadership change on Monday, naming Rati Sahi Levesque as the new chief executive officer, effective immediately. Levesque, a co-founder of The RealReal since its inception in 2011, […]
Cetaphil Owner Galderma Sales Lift 9.2% on Strong Skincare and Injectable Demand
Galderma, the Swiss skincare company renowned for its Cetaphil brand, has reported a remarkable 9.2% increase in sales during the first nine months of the year, totalling $3.26 billion. The firm credits this growth to robust product performance within both the skincare and injectable aesthetics categories across international markets, particularly in Europe, China, and Latin […]
US Court Blocks Tapestry’s $8.5 Billion Acquisition of Rival Capri
In a significant legal decision, a US district court has halted Tapestry Inc.’s proposed $8.5 billion acquisition of Capri Holdings, a move that underscores the growing scrutiny of mergers in the fashion industry. This ruling was delivered by Judge Jennifer Rochon and marks a notable victory for the Federal Trade Commission (FTC), particularly in an […]
Hermès Continues to Outshine Rivals with Sales up 11.3%
In the luxury fashion sector, few brands are as iconic and resilient as Hermès. The renowned maker of the coveted Birkin bag recently reported a noteworthy rise in third-quarter sales, marking an 11.3% increase compared to the previous year. This uptick in revenue attests to the brand’s ability to attract affluent consumers, even as many […]
Mike Ashley’s Frasers Pulls Bid for Handbag Maker Mulberry
In a notable move within the luxury sector, Mike Ashley’s Frasers Group has decided to withdraw its bid to acquire Mulberry Group Plc, a British handbag manufacturer. This decision comes after Mulberry rejected Frasers’ latest offer of 150 pence per share, which is a step up from their initial bid of 130 pence. The refusal […]
Astier de Villatte Sells Majority Stake to Vesper
Astier de Villatte, the renowned Paris-based lifestyle brand, has taken a significant step in its growth journey by selling a majority stake to Vesper, a private equity firm. Founders Ivan Pericoli and Benoît Astier de Villatte will maintain a notable stake and remain at the helm of the brand’s creative direction. The financial details of […]
Dior Names Bollywood Star Sonam Kapoor New Ambassador
In a strategic move that highlights the burgeoning potential of the Indian luxury market, Christian Dior Couture has appointed Bollywood icon Sonam Kapoor as the latest ambassador for its womenswear, designed by Maria Grazia Chiuri. This collaboration marks a significant step for Dior as luxury brands increasingly recognize India’s growing consumer base, expected to spend […]
Zegna Group’s Third Quarter Sales Fall 7 Percent
The Italian luxury menswear group Zegna has reported a 7 percent decline in total sales for the third quarter of 2024, raising concerns about the future of the luxury market. Total revenue for the quarter hit €397 million ($429.8 million), a significant downturn attributed largely to the plummeting demand for luxury goods in key global […]
Chanel To Sponsor Oxford-Cambridge Boat Race
In a significant shift for both business and brand identity, Chanel is stepping into the realm of sports sponsorship. The French luxury house has announced its title sponsorship of “The Boat Race,” a historic rowing competition between the prestigious Oxford and Cambridge universities. This event, celebrated as the UK’s oldest major sporting occasion, is set […]