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.
Some sank, others surged. BoF examines how Kering, Hermès and Moncler stacked up against the high bar set by LVMH’s fashion and leather goods division last week.
Overall sales came in at 7 billion euros ($8.27 billion), for the July to September period, rising 1.6 percent from a year earlier.
In the months between July and September, revenue dropped 15 percent year on year.
The answer has a lot to do with Louis Vuitton, Dior and the Chinese market. BoF breaks down the key factors behind the rebound.
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The group was struggling due to investment costs and a tough trading environment in its home market even before the pandemic hit.
Sales in China rose 6 percent while in North America, the company's biggest market, sales fell 2 percent.
Analysts had forecast a 20.97 percent fall in comparable sales, but the company reported a 13 percent rise.
The Seattle-based company's online sales also fell 5 percent in the quarter ending on Aug. 1.
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This week, everyone will be talking about the first Swiss watch fair since the pandemic, a slew of American retail earnings and China's Qixi festival. Get your BoF Professional Cheat Sheet.
The growth was fuelled by its Bath & Body Works brand.
The fashion marketplace sold record levels of merchandise and cut down on its losses as luxury shoppers pivoted online.
This week, everyone will be talking about Tapestry's first earnings since CEO Jide Zeitlin stepped down, the return of in-person shows at Copenhagen Fashion Week and the luxury e-commerce boom. Get your BoF Professional Cheat Sheet.
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.