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The company has been struggling to survive a tough US retail environment in which customers have been cutting back on non-essential spending.
Prada Group
Company Snapshot
With a thoughtful and pioneering vision, Prada Group is a global leader in luxury that owns some of the world’s most prestigious brands: Prada, Miu Miu, Church’s, Car Shoe, Marchesi 1824 and Luna Rossa.
The News in Brief
TikTok argued the ban would trample free-speech rights based on a misguided view that Chinese ownership of the platform poses a national security threat.
Edouard Aubin downgraded the luxury-goods giant to equal-weight on Friday on concern over weakening demand in the sector.
Shares of the beauty retailer rose 6.6 percent in extended trading after the company also beat third-quarter results.
The New York-based company has tapped a financial adviser as it seeks to solicit interest from potential investors including private equity firms and family offices, according to people familiar with the matter.
Designer Pharrell Williams unveiled his pre-fall 2024 men’s collection to about 1,200 guests.
The activewear label announced that it secured growth investment in a funding round led by Raine Partners, the equity arm of investment firm The Raine Group.
The Northamptonshire-based footwear brand said sales fell 5 percent to £396 million ($499 million).