To make sure you have all the cards in hand, FashionUnited has put together a catch-up session. A look back at the most notable fashion and business news from the past week.
Sessùn changes hands: Quadrivio Group buys the French brand
The Italian investment fund Quadrivio Group announced today the acquisition of the majority of Sessùn, previously owned by Experienced Capital. This operation marks a major turning point for the French brand, which has experienced exponential growth in recent years. Continue reading.
Wertheimers (Chanel) and Bettencourts (L’Oréal) invest in the Olsen sisters’ brand, The Row
The Wertheimer brothers and the Bettencourt family, respective owners of Chanel and L’Oréal, have acquired a minority stake in the American fashion brand The Row, owned by the Olsen sisters, we learned from a source close to the matter. Continue reading.
SMCP: The sale of part of the capital in 2021 is illegal, British law confirms
British court has opened the way for its creditors to take over 15.9% of the SMCP textile group, owner of the brands Sandro, Maje, Claudie Pierlot and Fursac, by confirming the invalidity of the sale of this share in 2021, the group announced on Monday. . Continue reading.
BlackRock acquires 5% of the shares in Moncler
BlackRock, the world’s largest asset manager, increased its stake in Moncler Group to 5.007%. The investment company made the purchase through several of its funds on 30 August. Continue reading.
Inditex (Zara) ignores the competition and continues a new record six months
Spanish giant Inditex, owner of the Zara brand, achieved new record results in the first half of the year, consolidating its position as the world’s number one in ready-to-wear amid increased competition in the textile sector. Continue reading.
Clothing: Esprit put into liquidation in France
Ready-to-wear brand Esprit has been placed into liquidation in France, according to a court ruling heard on Thursday by AFP, four months after the group announced it had filed for bankruptcy for its European operations. Continue reading.
G-III Apparel diversifies its portfolio with the acquisition of the Converse license
G-III Apparel on Thursday reported a 2% drop in second-quarter sales to $644.8 million. The big piece of information, however, is that the American textile group has just signed a license agreement with Converse (Nike group) to produce its clothing.
Continue reading.
Economic Outlook: Artificial Intelligence to the Rescue of Luxury?
At a time when the luxury industry is becoming more economical, the use of artificial intelligence for better operational efficiency is underway. What are the key positions and forecasts in the medium term? This is the question that the consulting firm Bain & Company asked the members of the Comité Colbert, as part of the third edition of the “Luxury and Technology” report. Continue reading.
Under Armour: a particularly expensive restructuring plan
Under Armor suffered a setback as its restructuring efforts led to higher costs and a revision to its earnings outlook. The company’s shares suffered a significant drop in response to this development. Continue reading.
Made in Italy: Manufacture of luxury Dior and Armani bags under strict supervision
While all luxury brands benefit from leather goods, investigations carried out by the Italian administration take into account the fact that bags from the brands Dior (LVMH) and Armani, manufactured by their Italian subsidiaries, are not designed under particularly ethical conditions. Continue reading.
Alibaba shares rise in Hong Kong after influx of Chinese investors
Shares of Chinese e-commerce giant Alibaba rose more than 5% on Tuesday morning in Hong Kong after joining the Stock Connect program, which allows it to be directly accessible to investors in mainland China. Continue reading.