French luxury giant LVMH said Thursday it would counter-sue US jeweller Tiffany, accusing it of “dishonesty” as their plans for a sparkling tie-up descended into bitter recrimination. “LVMH was surprised by the lawsuit filed by Tiffany,” the French owner of brands such as Louis Vuitton, Dior and Moet […]

For the 52 weeks to July 25, 2020, total sales at Myer were down 15.8 percent to 2,519.4 million Australian dollars (1,831 million dollars), which the company said, reflected widespread store closures. The company added that comparable store sales for the year were down 3.3 percent, while group’s online […]

J.C. Penney Company, Inc. has announced that it has reached an agreement in principle to sell JCPenney through a court-supervised sale process to Brookfield and Simon for 1.75 billion dollars, which includes a combination of cash and new term loan debt. “We have determined that an agreement with Brookfield […]

Philipp Plein, the Switzerland-based maximalist brand known for its more-is-more aesthetic, is to exit wholesale and focus on the end customer. The company recently closed a 3,000sqm space in Milan that served little more than the purpose of presenting its wholesale collections and cost the business […]

Burberry has announced plans to issue a sustainability bond to fund social and environmental improvements. It is the first luxury brand to do so in a bid to attract ethical investors. Proceeds from the fund will be used to finance eligible projects listed under Burberry’s new Sustainability Bond Framework […]

American Eagle Outfitters, Inc. has reported EPS of negative 8 cents for the 13 weeks ended August 1, 2020 compared to 38 cents for the 13 weeks ended August 3, 2019, and adjusted EPS of negative 3 cents compared to adjusted EPS of 39 cents last year. Total net revenue for the quarter decreased 157 […]

The Department for International Trade (DIT) has announced new trade measures for the consumer and retail industry to help support businesses impacted by the coronavirus pandemic. The ‘bounce-back’ plan, announced by the exports minister includes new measures to “help boost exports and increase British […]

Lululemon Athletica inc., for the second quarter ended August 2, 2020 reported net revenues of 902.9 million dollars, an increase of 2 percent, while on a constant dollar basis, net revenue increased 3 percent. The company said in a statement that company-operated stores net revenue was 287.2 million […]

LVMH Group has appointed Martin Brok as the new President and CEO of Sephora, effective September 14, 2020, reporting to Chris de Lapuente. The company said in a statement that Lapuente remains a member of the LVMH Comex and will take on additional responsibilities within the Group, to be announced […]

September is the month of fashion trade shows. Thirty-two to be exact, according to listings on France’s trade publication Modem. This week would have seen Coterie in New York, CPM in Moscow, followed by Première Vision in Paris and many others. The majority have been cancelled or repositioned into […]

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