Swiss Watch Exports Plunge as China and Hong Kong Demand Dries Up
Monthly Swiss watch exports suffered their biggest decline since 2020 as demand for premium and luxury timepieces in key markets including China and Hong Kong plunged.
Marco Gobbetti
Will Burberry Take a New Direction?
This week, with luxury in the spotlight, everyone will be talking about Burberry and Richemont's annual results.
Ferragamo’s Plan to Double Sales Under a New CEO
Former Burberry boss Marco Gobbetti says the brand will race to refresh its products and image to attract Gen-Z clients.
Who Makes a Great Fashion CEO?
This week, Versace and Alexander McQueen named new CEOs, following changes at the top of Chanel, Ferragamo and Burberry. In a sector known for favouring seasoned insiders, non-traditional picks with outside perspectives remain rare.
Lucky Number 111 for Burberry’s Riccardo Tisci
The Italian transforming Britain’s biggest luxury brand is confident at last: ‘It’s a big company to move, but now I feel the boat is in the water.’
Burberry Struggles to Convince on Growth
The British brand is still lagging luxury rivals as outgoing chief executive Marco Gobbetti prepares to handover responsibility for its years-long turnaround to current Versace chief Jonathan Akeroyd.
Luxury
The Challenges Facing Burberry’s Next CEO
Burberry Names Jonathan Akeroyd New CEO. The appointment of Versace chief Akeroyd comes four months after current Burberry CEO Marco Gobbetti announced his departure to Salvatore Ferragamo, leaving the British brand’s turnaround only partially complete.
The Challenges Facing Burberry’s Next CEO
Burberry Names Jonathan Akeroyd New CEO. The appointment of Versace chief Akeroyd comes four months after current Burberry CEO Marco Gobbetti announced his departure to Salvatore Ferragamo, leaving the British brand’s turnaround only partially complete.
What Now for Burberry’s Turnaround?
CEO Marco Gobbetti is leaving for Salvatore Ferragamo with the British brand’s revival only partially successful.
Luxury
With Brand at Crossroads, Burberry's CEO Bets Big on China's Young Money
Burberry's turnaround was always going to be an uphill battle. Now, as the pandemic thwarts the company's plans to reinvigorate top-line growth this year, Marco Gobbetti is betting that a digital edge with Asia's Millennial and Gen-Z clients will pay off.
With Brand at Crossroads, Burberry's CEO Bets Big on China's Young Money
Burberry's turnaround was always going to be an uphill battle. Now, as the pandemic thwarts the company's plans to reinvigorate top-line growth this year, Marco Gobbetti is betting that a digital edge with Asia's Millennial and Gen-Z clients will pay off.
Where Does Burberry Go From Here?
This week, everyone will be talking about Burberry's first financial results since the lockdowns and the first major live fashion show in months. Get your BoF Professional Cheat Sheet.
Asia’s Recovery Roadmap for Luxury
As demand in western markets lags behind, Asian shoppers hold more power than ever over luxury brands' bottom lines. From China to Japan and Singapore to South Korea, here’s where demand is roaring — and where it’s reeling.
Fashion Magazines Hit as Luxury Ad Spend Dwindles
Global fashion houses are slashing their marketing budgets by 30 to 80 percent to weather the economic fallout of the pandemic.
Luxury Brands Burn Unsold Goods. What Should They Do Instead?
The luxury industry’s habit of destroying end-of-season leftovers is under threat, thanks to a consumer backlash and increasing government regulations. BoF uncovers the best solutions.
Company Snapshot
The Italian executive has a strong track record in leading luxury companies, most notably at Céline where together with Phoebe Philo he generated double digit growth.
The News in Brief
Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
TikTok Divest-or-Ban Bill Heads to Fast Track in US Congress
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
Lagardère Group Launches Egyptian Edition of Elle Magazine
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.
Report: FTC to Consider Blocking Tapestry’s $8.5 Billion Capri Takeover
The US Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings, NYT Dealbook reported on Wednesday, citing people familiar with the matter.
Harvey Nichols Appoints New CEO
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
Emerging Designer Platform The Folklore Raises $3.4 Million
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
Adidas Is Seeing Hot Demand for Sambas and Yeezys
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.