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Business of Fashion
The European Commission proposed on Wednesday an EU ban on products made using forced labour with legislation that will add to existing US pressure on China, but will likely change before it enters force. The EU executive does not name any country in its proposal, but it follows a European Parliament call for such a...
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NEW YORK — An interesting thing about the work of designer Kim Jones is that it has increasingly become a vehicle for showcasing other designers and brands, from his groundbreaking collaboration with Supreme at Louis Vuitton, to his Dior Jordans, to Fendi x Skims and the splicing of Fendi and Versace. At Fendi’s show celebrating...
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As Shanghai residents queued for compulsory Covid-19 tests amid a stifling heatwave last month, fashion brands were moving into some of the most desirable luxury malls in a city that had only just come out of a severe lockdown. Maison Margiela, Jil Sander, and Amiri — labels either fully or partially owned by Italian fashion...
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Stuart Hill, Farfetch’s senior vice president of logistics since four years, will join MatchesFashion as chief operating officer in September. The hire follows the appointment of former Asos chief Nick Beighton as MatchesFashion’s new CEO last week. Beighton, who will be the company’s fourth chief executive in under five years, will need to accelerate growth...
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For YouTube’s second virtual Beauty Festival, the video streaming platform is determined to go bigger and better than before. “Last year was sort of like a pilot, what a beauty festival could look like on YouTube,” said Derek Blasberg, YouTube’s head of fashion and beauty and director of public figures. “This year is a much...
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Cosmetics maker Coty Inc raised its full-year profit outlook on resilient demand for its high-end fragrances and skin care products even at a time inflation in most countries has soared to multi-year highs. Demand for luxury goods has held up as higher prices of everyday essentials have not affected the spending power of the affluent,...
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Inflated Expectations LVMH reports first-quarter results on April 12 The Louis Vuitton and Dior owner has reported a series of blockbuster quarterly sales and profits Maintaining that pace of growth will be harder now that the comparison is to last year rather than the early phase of the pandemic LVMH has a problem most companies...
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Adidas and PVH are among the latest companies to close stores and pause commercial activities in Russia, joining a growing list of Western companies suspending business in the country following its invasion of Ukraine. Estée Lauder Companies, which suspended its business investments in Russia last week, has now also closed directly operated stores, brand websites, and...
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Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales, the company said in a statement on Saturday. The Zara owner is following some of the biggest western brands which have suspended operations in Russia, including its main rival H&M, following the invasion of Ukraine and the imposition of economic...
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KEY INSIGHTS Hainan has cemented itself as an important domestic shopping hub over the pandemic thanks to duty-free retail and diverse tourist attractions. A change in regulations by 2025 will make it more attractive to some luxury brands as they will be able to directly operate stores. Recent and upcoming investments make Hainan an attractive...
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