Shares of Versace Owner Capri Seen Falling 30% If Deal With Coach Owner Tapestry Fails
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
Federico Marchetti
Mark Zuckerberg Meets Italian Fashion Leaders
Meta’s founder and chief executive met up with several power players, according to the evidence on Instagram.
YNAP Replaces CEO Marchetti, Buying Director Heads to Rival
An internal hire from owner Richemont will take the reins at YNAP, as buying director Elizabeth von der Goltz joins a recent talent exodus.
Armani and Yoox Net-a-Porter Sign Omnichannel Deal
The partnership will offer Armani customers access to all products on online and offline channels by 2022.
Power Moves | YNAP CEO Joins Giorgio Armani Board, Coty Names New CEO
This week Federico Marchetti was appointed non-executive director to the luxury fashion house’s board, while Coty appoints Sue Y. Nabi as its chief executive.
We Need to Rethink Fashion Month Altogether
Uncontrollable forces made the fashion industry shift the way it operates this past month, offering a moment to contemplate some bold changes.
Power Moves | Hudson’s Bay Company, Printemps CEOs Depart
This week, the CEO of Saks owner Hudson’s Bay Company steps down, as does the CEO of Printemps.
Yoox Net-a-Porter Group CEO Steps Down
Yoox Co-Founder Federico Marchetti is relinquishing the role as owner Richemont struggles to make the online retail group, which includes Net-a-Porter and Mr Porter, profitable.
How to Leave Your Old-Media Job
Jumping to a brand or retailer can lead to a more prosperous career that’s just as fulfilling as working at a legacy fashion magazine, argues Amy Odell.
Yoox Net-a-Porter’s ‘Painful’ Tech Upgrade Drags Down Richemont
A troubled technology and logistics makeover at the Richemont subsidiary interrupted the Swiss conglomerate’s grand plans to build a single platform for luxury e-commerce, amid growing competition for online sales.
Power Moves | Depop names CTO, Alaïa Appoints CEO
This week, Depop hires seasoned tech executive Remo Gettini, while Alaïa names its new chief executive amid a number of executive changes at owner Richemont.
What Net-a-Porter’s Alibaba Deal Says About the Luxury E-Commerce Opportunity in China
Global fashion players are increasingly aligning themselves with dominant Chinese technology platforms, which are consolidating their power over the country’s online luxury market.
Yoox Closer to Launching Own Label
After confirming plans for a private-label business in 2017, Yoox is getting closer to launching own-label women’s, men’s and accessories after posting a number of job openings.
Company Snapshot
The former investment banker founded Yoox Group and was the former chairman and chief executive officer of Yoox Net-a-Porter Group, which consists of Yoox, Net-a-Porter, Mr Porter and The Outnet.
The News in Brief
Celine Adds To Fragrance Line-Up
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Sales Rise More Than Expected, Led by Beauty
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
Biden Signs Possible TikTok Ban Into Law; ByteDance Vows Legal Challenge
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
Google Postpones Phasing Out of Ad Cookies in Chrome Browser
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.
Sales at Italy’s Moncler Up 16% in First Quarter Boosted by China
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
PZ Cussons to Sell St Tropez, May Exit Africa
Embattled by weak demand and currency issues in Nigeria, the company is looking to slim down in order to return to growth.
EU Parliament Approves New Business Supply Chain Audit Law
EU lawmakers backed the Corporate Sustainability Due Diligence Directive by 374 votes to 235 against, with 19 abstentions.