Balmain Names New CEO
French fashion house Balmain has appointed Matteo Sgarbossa as chief executive, effective May 6.
Michelle Freyre
Workplace & Talent
Power Moves | Richemont Taps Former Givenchy CEO to Lead Fashion Division, Hugo Boss Names New CEO
This week, the luxury group appointed LVMH veteran Philippe Fortunato to oversee fashion and accessories, while the German suit maker tapped Daniel Grieder after his recent departure from Tommy Hilfiger.
Power Moves | Richemont Taps Former Givenchy CEO to Lead Fashion Division, Hugo Boss Names New CEO
This week, the luxury group appointed LVMH veteran Philippe Fortunato to oversee fashion and accessories, while the German suit maker tapped Daniel Grieder after his recent departure from Tommy Hilfiger.
The News in Brief
China’s Q1 GDP Growth Likely to Slow, More Stimulus on the Cards
The world’s second-largest economy has struggled to mount a strong and sustainable a post-pandemic bounce, burdened by a protracted property downturn, mounting local government debts and weak private-sector spending.
Hermès Can Surpass Vuitton as Luxury’s Biggest Brand, Citi Says
The Birkin bag maker’s sales are set to hit the “symbolic” €20 billion ($21.3 billion) level by 2027 or before, according to an Apr. 12 note by Thomas Chauvet.
Coty Announces College Basketball Star Jared McCain as Sally Hansen Ambassador
20-year-old Duke University guard McCain will be the nail care brand’s first-ever athlete ambassador.
Thailand’s Central Buys German Luxury Retail Property Kadewe
Thai retailer Central Group has acquired the landmark KaDeWe property in central Berlin from the insolvent Austrian company Signa in what it said was another step towards buying the group.
Temu Likely to Face Tougher Online Content Rules as EU Users Soar
PDD Group’s fast-fashion e-commerce retailer Temu is likely to be subject to tough EU online content rules that already apply to Meta Platforms, Google, Elon Musk’s X and TikTok after its average monthly users in Europe rose above a key threshold.
Sephora Turns to Nike E-Commerce Exec to Overhaul China Business
The LVMH-owned beauty retailer has struggled to replicate the success of its European and north American operations in the region, which has incurred heavy losses against fierce domestic competition.
Salomon President and CEO Franco Fogliato Steps Down
Salomon chief executive Franco Fogliato will depart the brand effective immediately due to personal reasons, parent company Amer Sports said Friday.