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.
This week, French luxury conglomerate Kering made a commitment to go entirely fur-free, but the calculus looks different for LVMH, the world’s largest luxury group.
Kering brands like Gucci and Bottega Veneta banned fur years ago, but the French luxury group is extending the policy across all its labels.
The industry association for Danish mink breeders said the government's decision amounted to a death knell for the country's pelt industry.
On stage at BoF VOICES, the fashion photographer called on industry leaders to stop working with fur, feathers and exotic skins.
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Governor Gavin Newsom called it one of the strongest animal rights laws in US history.'
As the luxury apparel maker sold more of its light-weight spring season clothes, which are not as profitable as its $1,000 parkas, quarterly gross margins missed estimates.
Global fur sales fell to $33 billion last year, down from $40 billion in 2015. Now, Saga Furs, which provides fur for numerous high fashion houses, is turning to influencers like Bryanboy to turn the tide.
The mayor of New York's announcement he plans to ban fur may be a potential impasse to his presidential run.
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After a targeted public protest and behind-the-scenes discussions with activist groups, the luxury group will stop using animal fur from Spring/Summer 2020 onwards.
The Italian luxury goods group has vowed to stop the use of fur in line with the changing face of consumer attitude.
The group's Animal Welfare Standards support prohibiting intensive farming and the use of sub-therapeutic antibiotic treatments.
Inez and Vinoodh, Diane Von Furstenberg and Tonne Goodman are among the creatives that have committed to Alexi Lubomirski’s new Creatives4Change initiative.
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.