In an unexpected twist, Swiss luxury watchmakers are turning to government support to combat a downturn that is shaking the foundations of the prestigious industry. As brands such as Girard-Perregaux and Ulysse Nardin actively participate in a state program aimed at preserving jobs, the luxury watch sector faces a challenging reality. The Sowind Group, which […]
Cult Gaia Gets Into Beauty With Fragrance Line
In a bold move to expand its brand ethos beyond fashion, Cult Gaia is venturing into the beauty industry with the launch of its first fragrance line. Known primarily for its unique womenswear and sculptural bags, the brand is introducing three distinct scents, each priced at $228 for a 50 mL arch-shaped bottle. This step […]
Phoebe Philo Launches Brick-and-Mortar Wholesale
Phoebe Philo’s eponymous label, backed by luxury powerhouse LVMH, is making a strategic pivot by integrating brick-and-mortar wholesale distribution into its business model. This shift towards physical retail will complement its initial strategy of launching as an online-only, direct-to-consumer brand. The decision not only offers new avenues for revenue generation but also enables the brand […]
Burberry Names New Chief Marketing Officer, Americas President
In a decisive move to reinvigorate its brand, Burberry has announced the appointment of two significant executives under the leadership of its new CEO, Jonathan Schulman. The British luxury brand has brought on Jonathan Kiman, a veteran marketing executive from Gucci, and Laura Dubin-Wander, a seasoned professional with extensive experience in American luxury markets. This […]
Kohl’s Profit Gets a Lift From Cost Controls, Leaner Inventories
Kohl’s Corporation has recently raised its annual profit forecast, buoyed by a strategic emphasis on cost management and lean inventories. This shift comes after the retailer exceeded second-quarter earnings expectations, demonstrating a cautious yet effective response to prevailing market challenges. As consumer spending in apparel and accessories remains cautious, cost-control measures have become essential for […]
Ganni to Show at Paris Fashion Week
Danish apparel brand Ganni has made a significant announcement by confirming that it will present its Spring/Summer 2025 collection at Paris Fashion Week. Traditionally known for its strong presence at Copenhagen Fashion Week, this shift signals a strategic pivot for the brand under the new leadership of Laura du Rusquec, a former executive of Balenciaga, […]
PVH Corp. Reports 6 Percent Sales Drop, Driven By Weak International Segment
In a challenging quarter for global retail, PVH Corp., the parent company of iconic brands Tommy Hilfiger and Calvin Klein, has reported a 6 percent decrease in sales compared to the previous year. This downturn highlights the ongoing struggles in the international market, significantly impacting PVH’s revenue in key regions such as Asia Pacific. For […]
Nordstrom Q2 Revenue Rises on Boost From Sales Event, Shares Surge
Nordstrom, the upscale department store chain, has announced a significant boost in its financial performance for the second quarter of 2024, primarily driven by the success of its Anniversary Sale event. This increase comes at a time when consumer spending remains cautious due to ongoing inflationary pressures, showcasing the resilience of luxury retailers amidst economic […]
Diane von Furstenberg Names New CEO: A Strategic Shift for the Fashion House
In a significant move for the fashion industry, Diane von Furstenberg (DVF) has appointed Graziano de Boni as its new Chief Executive Officer. This announcement marks a pivotal shift in leadership as the company endeavors to redefine its brand strategy and regain control over its operations. De Boni, who succeeded Gabby Hirata, commenced his journey […]
Burberry’s 15-Year Stay in FTSE 100 Nears End After Share Slump
Burberry Group Plc is positioned at a critical juncture as it faces a potential exit from the FTSE 100 Index, marking the end of its notable 15-year tenure among the UK’s blue-chip companies. The luxury goods brand has recently experienced a significant share slump, with its stock value plummeting by a staggering one-third over the […]