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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

BusinessFeatured

LVMH’s Nona Source opens its first UK showroom

Nona Source, the established luxury fabric resale platform, which re-values deadstock fabrics and leathers from LVMH Fashion and Leather Goods Maisons, has opened its first UK showroom at The Mills Fabrica in London. The start-up was launched last year to serve the creative community, selling surplus fabrics from the LVMH fashion and leather...

11 May 2022

Business

LVMH’s virtual avatar reveals start-ups taking part in group’s Innovation Award

Luxury conglomerate LVMH has revealed the 21 start-ups that will be joining its LVMH Lab at the 2022 Viva Technology fair, taking part from June 15 to 18. Additionally, the selected companies will also be in with a chance of winning this year’s LVMH Innovation Award, now in its sixth edition, with the winning candidates to be invited to join the...

9 May 2022

Fashion

Kenzo’s Nigo and Silvia Venturini Fendi to join LVMH Prize jury

LVMH has announced the dates for its 2022 LVMH Prize final, as well as the jury for this year’s edition with the addition of two new faces to the team. Set to take place on June 2, the fashion conglomerate is preparing to announce the winners of the LVMH Prize for Young Fashion Designers and the Karl Lagerfeld Prize, to be selected from eight...

9 May 2022

BusinessFeatured

France's luxury sector welcomes Macron's second presidential term

France’s luxury industry breathed a sigh of relief with the re-election of President Emmanuel Macron on Sunday. Mr. Macron in January acknowledged the importance of the fashion industry as France's top export sector. At the inauguration of a Chanel-sponsored artisan workshop in January, Marcron said "Today, when I look at figures from 2021, it...

25 Apr 2022

Business

LVMH, Fendi links with research labs to develop new biomaterials

LVMH has announced its Fendi brand will be teaming up with Imperial College London and Central Saint Martins, UAL, in a strategic partnership that will utilise academic research for the production of bio-textiles. Keratin will be at the focus of the two-year collaborative study, with the goal of developing a new fibre capable of mimicking luxury...

25 Apr 2022

BusinessFeatured

Fashion labels boost Q1 revenue growth at LVMH

LVMH Moët Hennessy Louis Vuitton recorded revenue of 18 billion euros in the first quarter of 2022, up 29 percent compared to the same period in 2021. The company’s organic revenue growth was 23 percent. The company said in a release that LVMH had a good start to the year against a backdrop of continued disruption from the health crisis and...

13 Apr 2022

Business

LVMH, Hermes, Chanel pause business in Russia

French luxury giants LVMH, Hermes and Chanel have decided to temporarily close their shops in Russia, which invaded Ukraine on February 24, the firms announced Friday. Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60 people in the country. "Taking into account the situation in the...

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

PFW: Supermodels and celebrities celebrate the posthumous Off-White show for Virgil Abloh

Spaceship Earth was the title of Off-White’s posthumous show for Virgil Abloh. The collection was designed by Abloh before his sudden death last November, and completed by the creative teams and collaborators with whom he worked. It rendered as a manifesto for his democratic and inclusive fashion revolution, a disruptive debut of “high fashion”...

1 Mar 2022

Business

EcoBeautyScore Consortium launches with 36 cosmetics companies

A group of both small and large companies and associations have gathered together to officially launch the EcoBeautyScore Consortium, with the collective goal of developing an environmental impact assessment and scoring system for cosmetics products. A total of 36 members, including the likes of Unilever, L’Oréal Group, LVMH and Henkel, have...

28 Feb 2022

Business

LVMH investment vehicle L Catterton is planning a summer IPO

L Catterton, a joint venture investment vehicle owned by LVMH, the Arnault Group and America-based Catterton, is planning a listing on the stock market later this year. The private equity firm, which holds investments in fashion companies including Birkenstock, Ganni and Etro, could be heading for an IPO as early as summer, reported the Wall...

27 Feb 2022