The current wave of mergers and listings is expected to grow as big groups like LVMH and Kering surge ahead and Italy’s last remaining luxury independents face pressure to bounce back from the pandemic while juggling succession planning and digital transformation.
The Italian menswear brand is raising $880 million by merging with a New York-listed SPAC. The funds will give the luxury firm greater financial firepower to help it bounce back from a bruising pandemic year and fend off competitors.
While the campaign doesn’t yet feature products designed by Lee, the release signals Burberry is getting a complete creative overhaul under the stewardship of Yorkshire-born designer and new CEO Jonathan Akeroyd.
This week, Ssense said it laid off 138 workers, and MatchesFashion received a $73 million cash injection from its shareholder. From more niche players to giants like Farfetch, the pressure remains high for luxury e-tailers.