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.
The French luxury conglomerate is creating a new logistics hub in northern Italy to replace controversial Swiss operations.
LGI, the company’s subsidiary in the lower-tax region of Ticino, Switzerland was the subject of an investigation that led to a historic tax settlement with the Italian government for $1.4 billion in 2019.
Now the company is preparing to reroute logistics for e-commerce, wholesalers, and retail stores through a sprawling warehouse in Piedmont, Italy as it winds down the Swiss operation. The new facility, which partly opened last year, will employ around 900 people by the end of 2022, Kering said Thursday.
Brands from Valentino to Prada and start-ups like Pulco Studios are vying to cash in on the racket sport’s aspirational aesthetic and affluent fanbase.
The fashion giant has been working with advisers to study possibilities for the Marc Jacobs brand after being approached by suitors.
A runway show at corporate headquarters underscored how the brand’s nearly decade-long quest to elevate its image — and prices — is finally paying off.
Mining company Anglo American is considering offloading its storied diamond unit. It won’t be an easy sell.