Amid the volatile macroeconomic environment, luxury customers are becoming more “deliberate and value-focused” in their spending. They’re also shifting discretionary dollars more toward wear-to-work clothes and fashion for dining out and parties, and pulling back spending on casual clothes, sneakers and handbags. That’s the read on the luxury consumer from Marc Metric, chief executive officer...Read More
G-III Apparel Group’s first-quarter profits slipped from a strong showing last year, but still beat expectations and were strong enough to prompt the Donna Karan and Karl Lagerfeld parent to boost its outlook for the year. G-III’s first-quarter net income for the quarter fell to $3.2 million from $30.6 million a year earlier, but came...Read More
In the two-plus years since acquiring Tiffany in a $16 billion blockbuster deal, LVMH has gradually revealed its plans to remake the brand from the bottom up. There was the Beyoncé and Jay-Z campaign, the “Lock” fine jewellery collection and the recently reopened flagship designed to please window-shopping tourists and high rollers alike. Now, change...Read More
Who’s in, who’s out, who’s been promoted and hired — FN covers all the industry changes in one place. Know of an executive on the move? Tell us at web@footwearnews.com. May 10, 2023: VF Corporation has announced new leadership promotions to its EMEA brand leadership team. Andreas Olsson, who previously served as general manager of...Read More
Celebrating its 50th year in business this year, Patagonia still operates in line with its founding ethos, which revolves around good people, good products and a love of the wild. WWD spoke with Patagonia’s director of philosophy, Vincent Stanley (who is also founder Yvon Chouinard’s nephew), and one of the longest-running employees, about his tenure...Read More
The eyewear maker’s results were consistent with its financial performance in recent quarters. Sales rose 12 percent year over year in the first quarter on the strength of its growing store fleet. It also decreased its losses by $23 million to $11 million and increased its adjusted earnings before interest and taxes by $17 million....Read More
MILAN — Gruppo Florence may be known for its rapid expansion and M&A strategy, but there is much more than meets the eye, according to chief executive officer Attila Kiss. “We are not simply collectors of some of the best examples of Italian manufacturing companies; it’s time now to shine the light on our industrial...Read More
Shakira made history last night as the first woman to receive the Inspiring Woman of the Year Speech at Billboard’s first-ever Latin Women in Music gala at Miami’s Watsco Center. Fellow Colombian star Maluma presented her with the award, where she shared, “It’s true that when I felt most lost, music put me in the...Read More
