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Fashion

Balenciaga debuting fall collection via video game

Balenciaga is taking a very unconventional approach to its fall/winter 2021 collection. This time the Kering-owned brand will be showcasing their latest collection via video game. The video game will be called “Afterworld” and will be released on December 6. The game will be set in the year 2031. The clothes will be futuristic inspired....

7 hours ago

Business

The world's top 10 luxury companies generate more than half of all global luxury sales

A new report assessing the global powers of luxury sees just 10 companies take more than half of all global luxury sales of the total top 100 companies it analysed. In a report by Deloitte, Global Powers of Luxury Goods 2020, the world’s top 100 luxury goods companies generated revenues of 281 billion dollars in 2019. The top 10 companies, which...

23 Nov 2020

Fashion

Will Balenciaga's latest 'ugly shoe' reach another footwear fever pitch?

Love or loathe, Balenciaga has released a new ugly shoe. And by ugly we mean the creators of one of the world’s most successful luxury footwear designs is hoping to replicate the hype and profits of its Triple S sneaker, which first launched in 2017, with a new, urgh, five-toe rubber sock. This time around Balenciaga has partnered with Italian...

10 Nov 2020

Business

Some luxury brands are beating Q3 exceptions

Last week LVMH set a precedent for other luxury groups when it posted double digit growth for its fashion and accessories businesses in Q3. While in the first nine months organic revenue declined by 11 percent, due to global lockdown measures and store closures, the third quarter saw a strong rebound in activity, with a growth of 12 percent....

23 Oct 2020

Business

Kering's luxury houses report positive sales growth in Q3

Kering’s consolidated revenue in the third quarter totalled 3,717.7 million euros, down 4.3 percent as reported and 1.2 percent on a comparable basis. This performance, the company said, represents a sharp rebound compared with the year-on-year contraction of 43.5 percent as reported and 43.7 percent on a comparable basis posted in the second...

23 Oct 2020

Fashion

The Fashion Pact is uniting global companies and CEO's to transform the industry

It was one year ago when French President Emmanuel Macron launched The Fashion Pack and pitched it to the G7 heads of state at the summit Biarritz. 32 groups and brands from the luxury, retail, fashion, sports and lifestyle sector [joined the...

14 Oct 2020

Business

Kering offloads further stake in Puma

Kering has divested a 5.9 percent stake in sporting giant Puma. The luxury group led by François-Henri Pinault announced it sold its shares for a value of 655.6 million euros, corresponding to a share price of 74.50. The sale leaves Kering with a reduced 9.8 percent share of the sportswear company. In the past few years Kering began divesting...

7 Oct 2020

Retail

Bolt Threads announces exclusive partnerships to introduce Mylo

Adidas, Kering, Lululemon and Stella McCartney have united with Bolt Threads to usher in a more sustainable future for fashion. The consortium is the largest joint development in consumer biomaterials to date. Bolt Threads is on a mission to harness the underground structure of mushrooms as it is an infinitely renewable resource. The material,...

6 Oct 2020

Fashion

Balenciaga to delay first haute couture collection to July 2021

Balenciaga is to delay its first foray into haute couture until July 2021, according to the brand’s creative director Demna Gvasalia. In an interview with WWD the designer said the pandemic upended the company’s fashion calendar forcing the planned show for January 2021 to be put forward to next July. Gvasalia further confirmed Balenciaga...

21 Sep 2020

Business

Kerby Jean-Raymond partners with Kering on new venture

American fashion designer Kerby Jean-Raymond, founder of Pyer Moss, has announced a new venture with French luxury conglomerate, Kering. The new platform, Your Friends in New York is designed to “empower the next generation of innovators,” according to the press release and is a venture that goes beyond fashion. Your Friends in New York (YFINY)...

10 Sep 2020

Retail

Why Gen Y & Z continue shopping despite crisis

Closed stores and strict hygiene measures are the images that have gone around the world since the outbreak of the coronavirus pandemic. Even though stores have reopened in many places, full purchasing power has not yet returned. However, the internet generation does not seem to be affected by this and continues to go on shopping sprees, online...

27 Aug 2020

Business

Kering posts worst quarterly sales on record

The Asia rebound for luxury goods demand didn’t buy LVMH, which saw a loss of 68 percent in revenue in the second quarter. It also didn’t boost Kering’s sales, which posted a loss of 43.7 percent to 2.175 billion dollars compared to the same period last year. Kering said consolidated revenue of 5.38 billion in H1 was down 30.1 percent. on a...

29 Jul 2020