Luxury goods giant LVMH is ending its takeover deal of jewelry retailer Tiffany & Co., saying the French government had requested a delay to assess the threat of proposed U.S. Tariffs. Wednesday’s announcement came after the deal’s value had been eroded by wider industry troubles caused by the coronavirus pandemic. The Paris-based conglomerate said that … More Luxury Goods Giant LVMH Cancels $14.5B Deal For Tiffany
The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel’s chief financial officer said on Thursday, warning the French fashion label’s 2020 revenues and profit would be significantly hit. Privately-owned Chanel – known for its tweet suits, quailed handbags and No.5 perfume is one of … More BUSINESS | Chanel Warns Virus Impact Will Linger On Luxury Sector
French luxury goods group LVMH’s board called a meeting in Paris to discuss its $16.2 – billion offer for Tiffany & Co amid a deteriorating situation in the U.S. market, fashion trade publication WWD reported on Tuesday, citing sources. Tiffany did not immediately respond to a request for comment and LVMH declined comment.
Shortly after the UAE announced a week-long extension of its country-wide lockdown, Parisian luxury label Hermes has decided to launch a concierge service for its customers in the Emirates. As of April 19, the French maison will be delivering its ubiquitous orange boxes straight to the doorsteps of customers in Dubai with no minimum spend … More BUSINESS | Hermes Launches Concierge Service In Dubai Amid Lockdown
MILAN, ITALY – One of Victoria’s Secret’s key executives is stepping down as the retailer deals with a battering year. April Holt, who is the executive vice president of stores, is leaving the L Brands-owned company after more than 16 years. Becky Kritek-Behringer, a 17-year veteran who is currently Victoria’s Secret SVP of store operations, … More FASHION AVENUE | Victoria’s Secret Head Of Stores Is Stepping Down
This week, a restructuring of Conde Nast’s global leadership sees the addition of a new responsibility to Anna Wintour’s job title, while Canada Goose taps a new designs lead from Columbia Sportswear. Conde Nast announces leadership restructuring As part of Conde Nast’s management restructuring, Anna Wintour has been named global content advisor, an addition to … More Power Moves | Anna Wintour’s New Role, Canada Goose Names Design VP
Evolus Inc on Monday reported revenue of 2.3 million from early sales of its newly launched rival to Allergen Plc’s Botox, ahead of its own epectations. Jeuveau, a neurotoxin drug to treat forehead wrinkles, was launched on May 15 and competes with Botox, which has grown to dominate the medical esthetics market since it was … More BEAUTY | Botox Rival Jeuveau Reports Early Sales
Brands have issued apologies and lost celebrity ambassadors like supermodel Liu Wen after products were discovered listening Hong Kong, Macau and Taiwan as separate countries, angering nationalist Chinese consumers amidst political unrest in Hong Kong and a trade war with the U.S. Chinese nationalism has peaked as protests in Hong Kong and a trade war … More FASHION ISSUE | Versace, Coach And Givenchy Have Angered China’s Netizens. Who’s Next?
This summer has been no shortage of luxury fashion brands announce new efforts to combat the reckless pollution wrought by the industry, which accounts for a good portion of the world’s textile waste and water contamination. But Dior is extending these efforts beyond the clothes it makes and into another space altogether: reusable straws. On … More FASHION INDUSTRY | Dior’s Solution To The Plastic-Waste Crisis Is A Gold-Painted Straw Made Of Hand-Blown Glass – And A 6-Pack Of Them Will Set You Back $146
Forever 21 recently shipped diet bars along with customer’s online orders. Not every customer welcomed the surprise addition to their package. Many people on social media called Forever 21’s bar shipments offensive and “fatphobic”. A number of people on social media said they received the bars along with orders of plus-sized clothing. Atkins markets the … More Fashion | Forver 21 Apologizes For Sending Atkins Bars With Online Orders