In a bold statement aimed at both customers and critics, Joshua Schulman, the newly appointed CEO of Burberry, has confirmed his commitment to preserving the brand’s premium status. Following his recent debut at London Fashion Week, Schulman asserted that lowering Burberry’s market position is not an option; instead, he intends to refine the brand’s pricing […]
Michael Kors Highlights Handbag Market Diversity in FTC Hearing
In a pivotal moment for the fashion industry, Michael Kors recently shared insights into the dynamic landscape of the handbag market during a Federal Trade Commission (FTC) hearing. This event unfolded as the FTC examined Tapestry Inc.’s proposed $8.5 billion acquisition of Capri Holdings, the parent company of his brand, Michael Kors, along with Versace […]
Brazil Lifts Freeze on Starlink and X Accounts After Fine Settlement
In a significant development in the ongoing saga between Brazil and tech billionaire Elon Musk, the Brazilian Supreme Court has lifted the freeze on the bank accounts of Starlink and X, formerly known as Twitter, following a fine payment that resolved a substantial legal dispute. This courtroom battle highlights the tension between global tech companies […]
Richemont Chairman Says Luxury Watchmakers Must Cut Production
In a critical address to shareholders at Richemont’s annual general meeting, Chairman Johann Rupert emphasized the need for the luxury watch industry to reduce production in light of declining demand. This significant shift comes after years of unprecedented sales growth, particularly during the pandemic. Rupert, also the founder of this Swiss conglomerate—which includes renowned brands […]
LVMH Close to F1 Sponsorship Deal for Range of Brands
LVMH Moët Hennessy Louis Vuitton, a titan in the luxury goods sector, is on track to secure a monumental sponsorship deal with Formula One. This partnership, still in the final stages of negotiation, represents a strategic move that would not only spotlight LVMH’s prestigious brands on the global racing stage but also reshape the marketing […]
Can Off-White Get Back on Track?
In the fast-paced world of fashion, brands often navigate turbulent waters. For Off-White, a brand renowned for bridging streetwear with luxury, recent years have posed significant challenges. The unexpected death of founder Virgil Abloh, coupled with strategic missteps and market fluctuations, has left the brand striving for a revitalization strategy under the leadership of new […]
French Brand Sessùn Sells Majority Stake to Italian Fund, Eyeing International Expansion
In a significant move poised to amplify its global presence, Marseille-based fashion brand Sessùn has sold a majority stake to the Italian private equity firm Quadrivio. This transition from majority owner Experienced Capital and founder Emma François-Grasset positions Sessùn strategically to enhance its brand awareness and scale its operations, particularly outside France. Founded in 1996, […]