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.
Activists from social justice organisation Attac on Saturday unfurled a giant banner over the headquarters of French luxury group LVMH and sprayed black paint on the storefront of its newly revamped La Samaritaine department store in Paris to protest the growing inequality during the pandemic.
The banner, which featured France’s richest man LVMH boss Bernard Arnault, fellow billionaires telecoms investor Patrick Drahi, luxury group Kering’s founder Francois Pinault and Francoise Bettencourt, daughter of the late L’Oreal heiress Liliane Bettencourt, read: “The gang of profiteers.”
Activists said in a statement the stunt was intended to protest “the shameless enrichment of billionaires during the health crisis.”
Attac is calling for the introduction of taxes on the richest people and the windfall profits of multinationals. LVMH could not be immediately reached for comment. The Samaritaine department store reopened to the public on June 23.
By Dominique Vidalon, Manuel Ausloos; Editing by Louise Heavens
In partnership with Scott, Audemars Piguet is set to release a limited-edition version of its Royal Oak watch and a capsule collection of co-branded merchandise from the watchmaking house and Cactus Jack Records.
Richemont, owner of jeweller Cartier, said on Wednesday it would not inject any cash into online luxury retailer Farfetch, following a report that the latter was exploring going private.
Farfetch’s chief executive José Neves is reportedly conferring with top shareholders, including Richemont and Alibaba, and JP Morgan about delisting the company, The Telegraph reported on Tuesday. A take-private deal could happen imminently as Farfetch’s stock remains under pressure, according to the report. The e-tailer’s share price has plummeted more than 80 percent since its 2018 IPO.
At The Business of Fashion’s VOICES 2023 gathering, Chanel’s global CEO Leena Nair outlined to BoF founder Imran Amed the vision she’s crafted during her first two years leading the iconic brand.