The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
For the first time since 2002, the Euro has reached parity with the dollar. The currency fell to $0.9998 on Tuesday, though by the end of the day, it was up again, at $1.003, according to CNBC. The US dollar index also hit a 20-year high, at $108.56, though it has slightly dropped since.
In the wake of Russia’s invasion of Ukraine, Europe has been plagued by an energy crisis, with Russia issuing threats to decrease gas supply to the euro zone. That, as well as economic turbulence has depressed the EU’s currency, which was first introduced in 1999.
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Weak Euro, Strong Dollar: What It Means for Fashion
Last week, the euro neared parity with the dollar for the first time in 20 years, reflecting a darkening outlook for Europe’s economy as well as moves to curb inflation in the US. For the luxury sector there may be an upside to the shift.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.