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With China in lockdown, sales of luxury falters

In the west we all remember the days where the outside world was shuttered and we were in a government-enforced lockdown, which experts said would curtail the spread of Covid-19. Working from home, the only outing for many was a trip to the supermarkets, where bare shelves due to supply chain issues had become the norm. The rest of the physical...

11 May 2022

Culture

Kering to present 2022 Women in Motion award to Viola Davis

Luxury conglomerate Kering has announced it will be presenting the 2022 Women in Motion award to actress Viola Davis during the Cannes Film Festival on May 22. The Golden Globe winner is being recognised for her commitment to the entertainment industry, as well as her dedication to the rights of women and minorities, with the luxury house...

10 May 2022

Business

Kering to launch employee shareholder programme

Luxury fashion group Kering has announced a new scheme that will grant eligible employees the opportunity to become shareholders of the company. ‘KeringForYou’ is part of the group’s way of recognising its teams’ work, it said in a release, allowing them to become sustainably and directly involved in the company’s development and future...

5 May 2022

BusinessFeatured

Kering invests in lab-grown leather startup VitroLabs

Kering has invested in biotech company VitroLabs, a pioneer producer of environmentally friendly leather that has high scalability potential. The San Francisco-based company has been developing a scientific process to grow the world's first cellular cultivated animal leather. It announced on Wednesday that it had closed its Series A financing to...

4 May 2022

BusinessFeatured

Kering signs charter to hire young people, vulnerable individuals and people with disabilities

Kering has signed a charter with the French Ministry of Labour, Employment and Integration to hire and integrate young people, vulnerable individuals and people with disabilities at its businesses. In a press release Kering said the charter is a part of its long-standing commitment to remain an employer of choice by promoting diversity and...

28 Apr 2022

BusinessFeatured

Kering posts 27 percent sales growth

Kering Group revenue rose 27 percent as reported and 21 percent on a comparable basis in the first quarter. The company said, revenue from directly operated stores were up 23 percent on a comparable basis and up 32 percent relative to the same period in 2019. The company added that sales growth was supported by very strong momentum in Western...

22 Apr 2022

Business

Kering's billionaire founder Francois Pinault to buy streaming platform

Kering founder François Pinault and two other founders of Paris-based I2PO are buying music-streaming platform Deezer for 1.075 billion euros. According to a Bloomberg report the entity will raise at least 120 million euros, with the aim to go public after a previous attempt in 2015. Deezer, a French online music streaming service, was founded...

19 Apr 2022

PeopleFeatured

Alexander McQueen appoints Gianfilippo Testa as new CEO

British luxury house Alexander McQueen has appointed Italian national Gianfilippo Testa as its new chief executive officer, effective May, 2022. Testa will report to François-Henri Pinault, CEO of Kering, the owner of the McQueen brand. The luxury veteran will succeed Emmanual Gintzburger, who is leaving the group to pursue opportunities outside...

21 Mar 2022

Business

Kering announces acquisition of US brand Maui Jim

Luxury group Kering has signed an agreement to acquire Hawaiian eyewear brand Maui Jim, adding it to its existing Kering Eyewear portfolio. The independent sunglasses label already has a significant presence in North America and is further sold in more than 100 countries. Much of Maui Jim’s character lies within its Hawaiian heritage and use of...

14 Mar 2022

Fashion Featured

Balenciaga's apocalyptic show is fashion's ode to resistance

Balenciaga’s apocalyptic set of a white rotund, where models walked against fierce winds and snow, the harshest of elements, profoundly reflected the world we are currently living in. Creative director Demna had considered cancelling Balenciaga’s AW22 presentation, questioning the usefulness of fashion in times of war and distress. The answer to...

7 Mar 2022

BusinessFeatured

Zara closes all Russian stores, as fashion industry calls to end Ukraine war

Zara parent Inditex has closed all of its 502 stores in Russia, as more retailers, brands and designers call for an end to Russia’s war on Ukraine. The high street giant follows H&M, Mango and Ikea, all of whom have temporarily shuttered their doors. While many businesses stop short of publicly condemning Russia for its Ukraine invasion, the...

6 Mar 2022

Fashion Featured

MFW: Bottega Veneta debuts first collection by Matthieu Blazy

Bottega Veneta on Saturday unveiled the first collection under Matthieu Blazy, the French designer who was appointed creative director after the sudden exit of Daniel Lee at the end of last year. Mr Blazy, who previously cut his teeth at Martin Margiela, Celine and Calvin Klein, cleaned the brand's slate, with little continuation of the...

27 Feb 2022