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.
Sales at luxury fashion’s second-biggest group fell 4 percent in the holiday quarter, putting it significantly behind key rivals. The Gucci and Saint Laurent owner is expecting another year of lacklustre growth amid a long-term plan to push its brands upmarket.
Sales at luxury fashion’s second-biggest group fell 4 percent in the holiday quarter, putting it significantly behind key rivals. The Gucci and Saint Laurent owner is expecting another year of lacklustre growth amid a long-term plan to push its brands upmarket.
A rapid turnaround at the Italian megabrand seems firmly off the menu, leaving parent Kering in a tricky position, writes columnist Luca Solca.
Pinault family holding Artémis is acquiring private equity firm TPG’s stake in the Hollywood talent giant in a deal that values the business at $7 billion.
Pinault sees CAA as a way to invest in the value of celebrities and may be able to use some of the Hollywood talent giant’s famous faces to bolster luxury group Kering.
The French group will pay €1.7 billion for 30 percent of the Italian couture house as the first step in a broader partnership with owner Mayhoola. What will the deal mean for Kering, Valentino, Mayhoola and the wider fashion landscape?
The French group will pay €1.7 billion for 30 percent of the Italian couture house as the first step in a broader partnership with owner Mayhoola. What will the deal mean for Kering, Valentino, Mayhoola and the wider fashion landscape?
Momentum in China and tourist spend in Europe enabled the sector to continue growing in Q2, while Kering’s surprise acquisition of a 30 percent stake in Valentino suggests there is more consolidation to come, writes Imran Amed.
The French group has the option to acquire 100 percent of the Italian label within five years. Kering chairman François-Henri Pinault described the deal as a ‘first step’ in a broader partnership with Qatari investment fund Mayhoola.
Following this week’s announcement that longtime Gucci chief Marco Bizzarri will exit the company in September, Imran Amed shares his top picks for one of the top jobs in the global luxury industry.
Luxury tycoon is in advanced discussions to buy a majority stake in Creative Artists Agency, according to people familiar with the matter, potentially adding another international trophy asset to the portfolio of a French billionaire.
Luxury tycoon is in advanced discussions to buy a majority stake in Creative Artists Agency, according to people familiar with the matter, potentially adding another international trophy asset to the portfolio of a French billionaire.
Courtesy of System Magazine, BoF’s Imran Amed and Bernstein analyst Luca Solca discuss how the biggest French luxury companies dominate the fashion industry. ‘They control the whole ecosystem; they have a lock on it.’
For years, luxury’s biggest jewellers have dismissed synthetic diamonds as inauthentic. But an investment by LVMH’s venture fund in lab-grown diamond company Lusix suggests this calculus may be changing alongside consumer interest in ethical and sustainable products.
For years, luxury’s biggest jewellers have dismissed synthetic diamonds as inauthentic. But an investment by LVMH’s venture fund in lab-grown diamond company Lusix suggests this calculus may be changing alongside consumer interest in ethical and sustainable products.
After taking the reins at his father’s luxury and lifestyle group, he consolidated the company’s core focus and expanded internationally, spearheading consecutive quarters of double-digit growth.
The administrators said the retailer’s 541 known unsecured creditors are owed at least £35.6 ($44.2 million) but are unlikely to collectively receive more than £800,000 ($996,000), or “less than a penny in the pound.”
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
Embattled by weak demand and currency issues in Nigeria, the company is looking to slim down in order to return to growth.
EU lawmakers backed the Corporate Sustainability Due Diligence Directive by 374 votes to 235 against, with 19 abstentions.
Amazon “significantly restricted consumers’ freedom of choice” by automatically pre-setting a ‘Subscribe and Save’ option, the regulators said.
The closure is part of the company's plan to raise $850 million to $1 billion and help improve its credit metrics, said chief executive officer Alejandro González.
