Richemont, the owner of Cartier and Chloé, gave details of its proposed shareholders' loyalty scheme on Friday, where it will give warrants to investors which later can be converted into newly created stock.
Richemont’s Montblanc brand and the luxury giant’s Yoox Net-A-Porter e-tail specialist have announced a new partnership. Montblanc will now use YNAP “to power the next iteration of its successful e-commerce platform”.
Frasers’ execs may have been talking about potential store closures in recent periods, but the firm is also planning openings and has announced its first regional store since the pandemic began at Leicester's Fosse Park.
Hugo Boss said on Tuesday it had returned to strong growth in China in June and online sales jumped 74% in the second quarter even as it reported an overall 59% fall in sales for the period due to lockdowns.
Burberry on Friday announced the opening of its long-awaited social retail store in China’s technology hub Shenzhen, “blending the physical and social worlds in a digitally immersive retail experience”.
It’s been a weird year for fashion retail so far and Q2 in particular saw unprecedented global conditions, so it’s no surprise that the new Lyst Index is different from usual with Nike and Birkenstock's riding high.
French luxury group Kering's Q2 comp sales plunged by 43.7% due to the coronavirus. Gucci comp sales fell 45% and Saint Laurent 48%, but recovering Bottega Veneta contained the drop in revenue to only 24.4%
LVMH, the world’s biggest luxury goods group, said sales momentum picked up in June and had especially improved in China, after store closures sparked by the pandemic tore a hole in the Louis Vuitton owner’s Q2 sales.
Italian fashion group Moncler reported a first-half operating loss for the first time in its history on Monday as a drop in sales caused by the coronavirus crisis lockdowns accelerated sharply in the second quarter.