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.
Tod’s shares soared on Friday after a top Italian fashion “influencer,” Chiara Ferragni, was appointed to the company’s board.
The 33-year-old Ferragni is the chairman and chief executive officer of TBS CREW Srl and CEO of Chiara Ferragni Collection, according to her website. She started her career with the launch of fashion blog, theblondesalad.com in 2009, and her personal brand, Chiara Ferragni Collection in 2013. She has more than 23 million followers on Instagram.
The stock of the Milan-based luxury brand jumped as much as 12.1%, making it the day’s best performer on the FTSE Italia All-Share Index. Volumes also surged.
Ferragni’s “knowledge of the world of young people will certainly be extremely valuable,” Tod’s founder and Chairman Diego Della Valle said in a statement.
By Chiara Remondini and Flavia Rotondi
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.
As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.