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 former president of Puig and member of the second generation of the Puig family died at 94. The news was confirmed by Puig in a statement on Monday.
Born in 1927 in Barcelona, he was also a founding member of the Family Business Institute in Spain, of which he was president from 1995 to 1997. His business expertise also grew with his acquisition of representation of the Max Factor brand in the late 1950s. He led the distribution of the brand in Spain for more than 15 years. He also grew his own brand’s international representation through collaborations with Paco Rabanne and later Carolina Herrera.
In February 2019, King Felipe VI of Spain presented Planas with the Kingdom of Spain Award in February 2019 in recognition of his successful business career.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.