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Fashion for Good project with Bestseller and Kering demonstrates tracing of viscose

Global sustainability initiative Fashion for Good reported the successful completion of its Viscose Traceability Pilot in time for World Rainforest Day on 22nd June 2021. The pilot is a consortium project with partners Bestseller and Kering and supported by Zalando to trace sustainable viscose in garments using innovator TextileGenesis’...

39 minutes ago

Business

The stock market's luxury indexes are soaring post pandemic

Luxury investors are showing confidence in the stock market again, with mergers and acquisitions back on fashion’s agenda. Covid-19 has without a doubt impacted the world’s stock exchanges, sending most of them in a frenzy in the early days, but after several months of difficulties, luxury indexes are setting new historical records. The month of...

22 Jun 2021

Fashion

5 Brands launching Pride Collections with a Difference

June is the month of Pride and some brands are doing more than lip service and making inclusivity a priority. For the past several years, a plethora of brands from high street to sportswear to luxury, have unveiled collections and collaborations that directly benefit the LGBTQIA+ community, either through awareness or donating to relevant...

3 Jun 2021

Business

Kering sells further 5.9 percent stake in Puma

French luxury group Kering has sold an almost 6 percent stake in Puma as it continues to wind down its investment in the German sportswear category. Kering announced Thursday “the launch of the sell-down of approximately 8.9 million shares that it owns in Puma SE, representing approximately 5.9 percent of the share capital of Puma, through a...

27 May 2021

Fashion

From farm to closet: How some brands are embracing regenerative production

When luxury companies began buying factories to keep artisan skills alive, it was a passive move into sustainability. It was also a way to stifle competition, where brands have priority ownership over their supply chains. Safeguarding craftsmanship From a craftsmanship point of view, hand-made products hold their own unique value, and remain...

30 Apr 2021

Business

Strong Gucci sales drive Kering rebound to pre-Covid revenue

Italian luxury label Gucci has helped drive a rebound in the revenue of its parent company Kering to pre-Covid levels in the first quarter of the year. The French luxury group’s revenue rose 25.8 percent to 3.89 billion euros on a comparable basis, ahead of analysts’ estimates. It is another indication that the luxury industry is beginning to...

21 Apr 2021

Fashion

After quitting social media, Bottega Veneta launches digital magazine

Bottega Veneta has launched a new digital magazine called Issue. The debut quarterly publication is an audiovisual feast and curated with a roster of luminaries including Barbara Hulanicki, Missy Elliott and Walter Pfeiffer. There is plenty of fashion editorial and catwalk footage, but also music, video and graphics. The online publication is...

1 Apr 2021

Business

Kering implements a global policy on domestic violence

The Kering Group has announced a global policy that helps victims of domestic violence by providing a range of support such as specific leave, adjusting working conditions and hours, changing locations, and giving referrals to specialist organizations for its employees. According to the World Health Organization, almost one in three women have...

1 Apr 2021

Fashion

Kering brands Alexander McQueen and Balenciaga confirm fur-free policies.

British fashion house Alexander McQueen and luxury Spanish designer brand Balenciaga have become the latest Kering-owned brands to go fur-free. The fur-free announcement follows a growing list of designers to ban the use of fur, including Prada, Stella McCartney, Armani, Versace, Michael Kors, Jimmy Choo, DKNY, Burberry, and Chanel. Fashion...

30 Mar 2021

Business

Resale platform Vestiaire Collective secures Kering investment

Pre-owned clothing platform Vestiaire Collective has announced the completion of a new 178 million euro (216 million dollar) financing round backed by Gucci-owner Kering and US-based hedge fund Tiger Global Management. Kering chairman François-Henri Pinault described the fast-growing resale market as a “real and deeply rooted trend” as his...

2 Mar 2021

Business

Gucci's sales have lost momentum, affecting Kering's recovery

2020 was not a year investors expected stellar growth from most luxury brands. In the epic times of a global pandemic, most hoped to see a rebound toward the fourth quarter, with 2021 the year of returning to pre-Covid sales levels and acceleration. At Gucci, sales were down 22 percent year on year, a loss far higher than most of its peers in...

18 Feb 2021

Business

Kering FY2020 revenues drop by 17.6 percent

Total revenue generated by Kering’s Houses in 2020 amounted to 12,676.6 million euros, down 17.6 percent reported and 16.5 percent on a comparable basis. The company said in a statement that while the health crisis and lockdown measures took a heavy toll on the Houses’ first-half sales (down 30.2 percent), the situation improved significantly in...

18 Feb 2021