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 streetwear giant’s first store in Italy opens May 6 and will be its 13th retail location. Supreme took out billboards in Milan to announce the opening and also advertised in local Italian newspapers, according to NSS Magazine.
Supreme’s move to Italy comes after years of battling aggressive counterfeiters in the country — most notably, the “legal knockoff” brand Supreme Italia, which took advantage of copyright and trademark loopholes before being deemed illegal themselves. The company, which was acquired by VF Corporation in November 2020, also faces fierce counterfeiters businesses in China.
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.