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Kering
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As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.
Starting this month, Chinese shoppers can snap up a small beige, crocodile-patterned version of Balenciaga’s iconic Hourglass handbag for $1,947, or 35 percent off on the mainland’s dominant e-commerce platform, Alibaba Group Holding Ltd.’s Tmall.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Robert Williams is Luxury Editor at The Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.
In this week’s High Margin luxury newsletter: A softening resale market for Birkin and Kelly bags poses questions for luxury powerhouse Hermès. Plus, a run on Chanel’s stores during Paris Fashion Week.
Goasglas is set to head the luxury conglomerate’s biggest watch label after the sudden exit of former chief executive Antoine Pin in January.
Harrods is still grappling with the dark legacy of former owner Mohamed Al Fayed’s serial sexual abuse, facing ongoing internal investigations, compensation negotiations and calls for greater accountability.
The Italian knitwear house joins a growing list of heritage brands sold to outside investors. Chief executive Livio Proli discusses the strategy behind Missoni’s next phase.
From the impact of the war in the Middle East to the future of Saks to the Kering conundrum, Imran Amed shares his intel and insight from the trenches of the latest ‘fashion month.’
Owner Lanvin Group said it is ‘fully committed’ to the French label’s development under creative director Peter Copping, with CEO Andy Lew in charge of management.
In a post-fashion month debrief, BoF founder Imran Amed and editor-at-large Tim Blanks assess how the biggest houses are bedding in under new creative leadership at Chanel, Gucci, Dior and more.
From $50 cashmere to Dom Pérignon champagne, the everything store for the aspirationally bougie is outrunning the ghosts of DTC past.
