Vinted Moves Into Profit After 61% Sales Rise
The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland and an expansion into luxury fashion.
Designers in the region struggle to navigate a fragmented market of competing fashion week events with ambiguous agendas and mixed results.
International tourism will not fully recover until 2023 at the earliest, causing a shift in shopping patterns. Luxury players must rebalance their global footprints while increasing investment in domestic consumer bases and e-commerce.
Chanel, Dior and Valentino are making a splash this week in Dubai and Doha in a bid to excite locals who were restrained from shopping abroad during the pandemic. But will repatriated spend in the Gulf be a permanent shift?
Last week’s Arab Fashion Week Riyadh focused the world’s attention on Saudi Arabian design and the country’s push for women’s rights, but who are the real power brokers in this fashion market worth $15 billion?
A slew of new e-commerce ventures are using the UAE as a springboard into the Middle East’s online retail market.
With a new fashion council, a revamped fashion week and a growing reputation as a launch pad for big brand events, Dubai is evolving into a fully-fledged fashion capital for the Middle East and North African market.
To accompany the launch of the BoF 500, Robb Young examines how an omnipotent cartel of deep-pocketed families have managed to anchor themselves in the lucrative fashion markets of the Gulf States.
Five years after the global financial crisis hit Dubai, the United Arab Emirates is poised to become a super-regional powerhouse, with compelling opportunities for luxury retailers, argues Mortimer Singer of Marvin Traub Associates.
Five years after the global financial crisis hit Dubai, the United Arab Emirates is poised to become a super-regional powerhouse, with compelling opportunities for luxury retailers, argues Mortimer Singer of Marvin Traub Associates.
The executive manages luxury brands and retail franchises across the Middle East for the likes of Armani, McQueen, Bottega Veneta and Harvey Nichols.
The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland and an expansion into luxury fashion.
The Barcelona-based firm set the price guidance at €24.50 per share, according to terms seen by Bloomberg News, giving the company an implied market value of €13.9 billion ($14.9 billion).
Chairman Reinold Geiger’s investment holding company, L’Occitane Groupe SA, is considering an offer for the Hong-Kong listed firm’s shares he does not already own, at HK$33 to HK$34 per share, the report said, citing people familiar with the matter.
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.