BoF editor-in-chief Imran Amed recaps the week in the business of fashion.
VERNON, United States — True Religion Apparel has agreed to a buyout offer of about $826 million from the investment management firm TowerBrook Capital Partners LP.
Contrary to numerous reports, broad changes in Chinese consumer behaviour and sentiment — not the country’s much publicised anti-extravagance campaign — are the likely causes of China’s luxury slowdown, says Anne Zhang, a reporter for Chinese business magazine CBNweekly.
BoF has learned that Alexander Fury will become fashion editor of The Independent, leaving his position at Love after a year at the publication.
MILAN, Italy — Brunello Cucinelli, the 59-year-old founder of the luxury fashion house that bears his name, has become a billionaire. Knitwear brand Brunello Cucinelli SpA has more than doubled in value since its initial public offering in Milan last April, giving Cucinelli a net worth of at least $1 billion, according to the Bloomberg Billionaires Index. He has never appeared on an international wealth ranking.