LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
In an interview with BoF the day of his first major speech to investors, Burberry’s new CEO Jonathan Akeroyd outlined his plan for growing the British house into a £5 billion megabrand with designer Daniel Lee.
The British luxury brand’s quarterly results were disappointing, but we have yet to see the full potential of the new business and creative vision take hold, writes Imran Amed.
The company will be unable to meet its full-year revenue guidance if softer demand in the global luxury market continues, the British luxury company said Thursday.
Declines in the US were offset by recovery of Chinese spending, with total comparable store sales for the quarter up 18 percent.
Creative director Daniel Lee’s debut show underscored the luxury industry’s focus on designer shoes to drive growth, with a big nod to the hybrid glam-comfort styles that luxury customers now crave.
But his celebration of tradition isn’t all that it seems.
The former Bottega Veneta designer’s first collection is London Fashion Week’s hottest ticket. Ahead of the show, BoF breaks down what’s at stake for the British megabrand.
Riccardo Tisci’s show, which was rescheduled following Queen Elizabeth II’s death, drew an A-list crowd as the brand seeks to launch a new cycle of growth.
New CEO Jonathan Akeroyd intends to double down on the brand elevation strategy put in place by his predecessor, as Covid lockdowns hammer sales in the critical China market.
This week, with luxury in the spotlight, everyone will be talking about Burberry and Richemont's annual results.
This week, Versace and Alexander McQueen named new CEOs, following changes at the top of Chanel, Ferragamo and Burberry. In a sector known for favouring seasoned insiders, non-traditional picks with outside perspectives remain rare.
The Italian transforming Britain’s biggest luxury brand is confident at last: ‘It’s a big company to move, but now I feel the boat is in the water.’
Initially a merchandiser at Harrods, Akeroyd grew the Alexander McQueen brand before joining Versace at a time when it seeked to accelerate global growth.
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
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.
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.