Saks Fifth Avenue Flagship Appraised at $3.6 Billion as It Renews Neiman Push
The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus.
The collapse of Rene Benko’s real estate empire is spreading to his luxury retail assets, with department store operator KaDeWe Group filing for insolvency in Berlin.
Sales were down 9.8 percent from the previous year, the most since 1980 — before the country’s reunification. Non-food items such as furniture and household appliances or clothing and shoes registered even steeper declines.
Puma said sales reached a record €6.8 billion ($7.7 billion) in 2021, up 32 percent on a constant-currency basis.
Condé Nast hired Weng, who has been the editor in chief of InStyle Germany since 2016, to lead the edition.
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Amesh, the London-based label founded by Sri Lankan designer Amesh Wijesekera, will receive mentorship and support from Slam Jam, as well as PR and brand consulting services from communications agency Reference Studios.
The LVMH-backed private equity firm has taken a majority stake in the German footwear company. Financière Agache, the family office of LVMH Chairman Bernard Arnault, will also invest.
L Catterton is reportedly the frontrunner to acquire the original anti-fashion shoe brand, which is reaping the rewards of shoppers’ pandemic-driven desire for casual comfort.
The luxury e-tailer is offering 15.6 million shares on the New York Stock Exchange. In a statement on Tuesday, the company said it expects its share
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Zalando’s growing Connected Retail ecosystem offers retailers access to its platform in eight major markets at no cost, expanding its product assortment and localised service capabilities in the process.
Zalando added more than one million customers during the sales period with gross merchandise volume growing by 35 percent.
The buyback would run from May 11 until June 4 to cover its management stock option programmes.
The German e-commerce company plans to seek a valuation of about $1 billion to $1.5 billion, which could change based on holiday period performance, according to people familiar with the matter.
The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus.
The announcement comes more than 20 years after Life, which was initially founded in New York City in 1883, stopped its regular publications.
A deadline to submit initial offers passed on Thursday, with a final deal expected to close mid-April.
Shoppers “get bored very quickly,” Régis Schultz, JD Sports’ CEO, said.
British sportswear retailer JD Sports said trading conditions remained challenging after its like-for-like sales dropped in January, resulting in fourth-quarter growth of just 0.1 percent.
Luxury watchmaker Favre Leuba plans to unveil more than two dozen timepieces later this year, priced as much as 24,000 Swiss francs ($26,489), as part of a brand relaunch that seeks to expand the Swiss pioneer’s appeal beyond its majority Indian consumer base.
L Catterton, backed by French luxury group LVMH Moet Hennessy Louis Vuitton SE, is launching a new vehicle to invest in Indian consumer-sector companies as it increases the focus on the fastest-growing major economy in the world.
The online market for secondhand apparel hit $20 billion in the US in 2023 and is expected to more than double over the next five years, according to a new report from ThredUp and Global Data.