The Italian designer, whose last testament was made public this week, mandated that the Armani foundation must sell a 15 percent stake in the fashion house to LVMH, L’Oréal, EssilorLuxottica or another company of similar standing, or pursue an IPO, within 18 months.
The Italian designer, whose last testament was made public this week, mandated that the Armani foundation must sell a 15 percent stake in the fashion house to LVMH, L’Oréal, EssilorLuxottica or another company of similar standing, or pursue an IPO, within 18 months.
The museum group is struggling with its identity – while the National Gallery is not only thriving but expanding into modern art.
The museum group is struggling with its identity – while the National Gallery is not only thriving but expanding into modern art.
The document says the late designer's heirs must sell a minority stake within 18 months, with a larger transfer to the same buyer to occur later, and give preference to LVMH, L'Oréal or EssilorLuxottica, according to Reuters. Otherwise, the brand should pursue an IPO.
The document says the late designer's heirs must sell a minority stake within 18 months, with a larger transfer to the same buyer to occur later, and give preference to LVMH, L'Oréal or EssilorLuxottica, according to Reuters. Otherwise, the brand should pursue an IPO.
Many high-end brands are struggling to connect with young consumers, who are either bored by dated marketing, turned off by high prices or both. Time is running out, as Gen Z is poised to dominate luxury spending by 2030.
Many high-end brands are struggling to connect with young consumers, who are either bored by dated marketing, turned off by high prices or both. Time is running out, as Gen Z is poised to dominate luxury spending by 2030.
With luxury demand slowing and prices soaring, top houses are betting on fresh creative leadership to re-energise customers. The Debrief unpacks what runway debuts at brands like Gucci, Chanel and Dior can – and can’t – fix this season.
With luxury demand slowing and prices soaring, top houses are betting on fresh creative leadership to re-energise customers. The Debrief unpacks what runway debuts at brands like Gucci, Chanel and Dior can – and can’t – fix this season.
A $24 million welcome bonus was in focus as new CEO Luca de Meo took the reins from François-Henri Pinault. Improving performance will require tough choices to ‘reduce our costs, reduce our debt, and where necessary, rationalise, reorganise, reposition some of our brands,’ de Meo said.
A $24 million welcome bonus was in focus as new CEO Luca de Meo took the reins from François-Henri Pinault. Improving performance will require tough choices to ‘reduce our costs, reduce our debt, and where necessary, rationalise, reorganise, reposition some of our brands,’ de Meo said.
The Swiss watchmaker shut down a media report suggesting the company would ‘part ways’ with chief executive Ilaria Resta.
The Swiss watchmaker shut down a media report suggesting the company would ‘part ways’ with chief executive Ilaria Resta.
Chief executives said they planned to raise prices while cutting margins.
Chief executives said they planned to raise prices while cutting margins.
If buzz alone closed deals, Frieze Seoul would be sold out. But the numbers tell a different story.
If buzz alone closed deals, Frieze Seoul would be sold out. But the numbers tell a different story.
The American watch brand has launched a campaign to encourage its Swiss rivals to consider manufacturing in the US in the face of steep tariffs.
The American watch brand has launched a campaign to encourage its Swiss rivals to consider manufacturing in the US in the face of steep tariffs.
Fashion leaders, Hollywood actors and fans alike came to the company’s headquarters to say a final goodbye to Giorgio Armani who died on Thursday.
Fashion leaders, Hollywood actors and fans alike came to the company’s headquarters to say a final goodbye to Giorgio Armani who died on Thursday.
A key question for investors is whether Francois-Henri Pinault will give his successor leeway to clean up Kering’s mess.
A key question for investors is whether Francois-Henri Pinault will give his successor leeway to clean up Kering’s mess.
Kering’s newly created jewellery division regroups Boucheron, Pomellato, Dodo and Qeelin brands as the company aims to pool resources. The conglomerate is also regrouping fashion brand reporting, shielding smaller labels from investor scrutiny.
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
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.
The creative director’s departure after four years was a decision of ‘mutual agreement’ according to the Italian label.
Reed plans to focus on his own brand after three and a half years as creative director for the Puig-owned label.
The transaction gives FSI, a Milan-based private equity fund, a controlling share in the Italian luxury house, as more founder-owned brands turn to investors to fund growth and weather a tough global market.
The contracts allow users to trade on outcomes such as whether an item will surpass a price threshold or predict whether a brand will launch a new model.
Following a last-minute withdrawal from the couture calendar in January, the label, which is majority-owned by Pinault family investment fund Artémis, cancelled a runway outing scheduled for March 6.