BoF compiles the most important professional moves of the week.
MILAN, Italy — The man on the move be it with a big backpack, an oversized shopper or the old-fashioned carry-on, was the key theme of high-end labels as they showcased their designs for next summer at Milan's Fashion Week, which wrapped up Tuesday.
[caption id="attachment_40456" align="alignnone" width="500" caption="Nicola and Paolo Bulgari | Source: Forbes/Getty Images"][/caption] Bulgari Brothers, Jewelers To The Stars, Are Billionaires Thanks To Tiny LVMH Stake (Forbes) "In 2011, however, French luxury empire Moët Hennessy Louis Vuitton (LVMH) acquired Bulgari in an all-share deal, handing over 3.6% of the conglomerate to the family. Last year, as LVMH’s stock rose, the Bulgaris and nephew Trapani sold a tiny sliver of their stake, reportedly to take care of taxes and other expenses." Amid U.K. Retailer Woes, a Web Fashion Foray (BusinessWeek) "As more British retailers succumb to competition from the Internet, a venture capital firm is underscoring the shift with its first investment in a fashion seller to develop its online business." On Top of the…
H&M to launch new concept stores in Spring (Reuters) “World number two fashion retailer Hennes & Mauritz will launch an eagerly-awaited new chain of stores targeting women shoppers in the Spring, it said on Wednesday.” Jason Wu’s New Contemporary Label Miss Wu Is Already a Hit (Daily Beast) “Miss Wu is a departure for the designer, now 30, who emigrated from Taiwan at age 9, launched his namesake label in
PARIS, France – “Men are the new women,” or so went the refrain of the fashion pack who have travelled from London to Florence to Milan to Paris over the last three weeks, taking in the menswear collections for Spring/Summer 2013. Indeed, according to a recent report by Bain & Company, a consulting firm, the luxury menswear market is growing at almost 14 percent per year, outpacing growth in womenswear by almost double. And, as
All the World’s a Stage (IHT) “If all the world’s a stage, the Milan designers found a way to put simple, modern clothes into different contexts. And Brioni, since it was bought by the PPR luxury group, has burnished its offerings and apparently lowered the age range.” More foreign buyers at Pitti Uomo (Fashion United) “Despite the numbers, which reveal that the Italian fashion industry will end 2012 in the
LONDON, United Kingdom — As the luxury and fashion sector enters the critical holiday shopping period on the back of strong results for the first half of the year, there are growing signs that executives are worried about what the future holds for the luxury market in 2012. Big news • This has been another month of record results for the luxury sector, with Hermès, Richemont, Ferragamo, Burberry, Tiffany, Prada and Ports all
Exactly How Hot Is Brazil? (IHT) “Compared with the other so-called BRIC countries — Russia, with historic department stores rising from gray streets; India, with its chaotic New Delhi markets; or China with its sprawling, often empty, shopping malls — São Paulo seems like a hive of glamorous commerce… Compared with China, Brazil has had far less attention from the big brands, although their stores are present in São
PPR set to buy men’s wear brand Brioni (FT) “PPR, the French luxury goods group, has confirmed it will acquire Brioni, the Italian high end men’s wear group that has dressed Vladimir Putin and the fictional character James Bond in several movie outings. In a statement on Tuesday, PPR said it would be buying 100 per cent of the family owned group for an undisclosed sum… PPR is reorienting and expanding its