Business

LVMH revenues surpass 2019 figure by 20 percent

LVMH Moët Hennessy Louis Vuitton recorded revenue of 64.2 billion euros in 2021, up 44 percent compared to 2020 and up 20 percent compared to 2019. Organic revenue growth was 36 percent compared to 2020 and 14 percent compared to 2019. The company said in a release that the group’s organic revenue growth of 22 percent in the fourth quarter...

18 minutes ago

Fashion

Puzzleware: The importance of kid’s involvement in garment creation

Children and their position in fashion is an element that is often easily overlooked in a world that is dominated by adult-centred creation. However, a new wave of DIY trends has sparked a revival of at-home crafts that gets people of all ages busy. Maija Nygren is one of those who has fully integrated this trend into her one-woman design...

16 hours ago

Business

Savage x Fenty secures 125 million dollars in funding as it opens first store

Savage X Fenty, the inclusive lingerie brand founded by pop star Rihanna, has reportedly secured 125 million dollars in fresh funding. It comes via a Series C funding round led by Neuberger Berman, along with participation from previous investors L Catterton, Avenir, Sunley House Capital, Advent International, and Jay Z’s Marcy Venture Partners,...

17 hours ago

Business

Victoria’s Secret sells 49 percent of China business in joint venture

Victoria’s Secret & Co has sold 49 percent of its China business to Hong Kong-based lingerie company Regina Miracle for 45 million dollars in cash. The two companies have formed a joint venture that aims to help Victoria’s Secret expand in the Chinese market. Under the joint venture, Regina Miracle will operate all Victoria’s Secret stores and...

18 hours ago

Retail

Fashion's biggest takeaways from a year on Roblox

Roblox, the online gaming platform and game creation system, has had a record year. Its global community grew from 32.6 million to nearly 50 million daily active users across 180 countries with the median daily active user visiting 55 unique experiences over the course of 2021. The fashion industry got on board, too, with users looking for...

19 hours ago

Business

Levi Strauss beats Q4 revenue estimates, expects strong 2022

Levi Strauss has beaten analysts’ fourth-quarter revenue estimates thanks to strong global demand for denim. The US giant reported net revenue of 1.7 billion dollars in the quarter ended November 28, representing growth of 22 percent compared to the same quarter a year ago, and 7 percent compared to two years ago, prior to the pandemic. Analysts...

20 hours ago

Retail

Cost of returns soars to 761 billion dollars

Retailers expect more than 761 billion dollars of unwanted merchandise sold last year to be returned by consumers, according to a report released by the National Retail Federation (NRF) and Appriss Retail. This accounts for an average of 16.6 percent of total U.S. retail sales, which soared to 4.583 trillion dollars in 2021. “As total retail...

26 Jan 2022

Fashion

London Fashion Week releases AW22 schedule

The British Fashion Council has unveiled the autumn/winter 2022 schedule for London Fashion Week, taking place from February 18 to 22. The February edition is being billed as a digital-physical hybrid event, showcasing both womenswear and menswear brands, with the schedule currently including 131 confirmed participating designers/organisations....

26 Jan 2022

More News

Business

Skims doubles valuation to 3.2 billion dollars

Kim Kardashian woke up richer this morning. The entrepreneur’s solutionwear label Skims has doubled its valuation to 3.2 billion dollars from nine months ago. Investors are continuing to cut big checks to emerging brands, like Skims, making Kardashian’s brand a big target for investors with deep pockets. The news was reported by Bloomberg. The...

9 hours ago

Business

Leap gets 50 million dollars in Series B funding

Leap, the retail platform for modern brands, has raised 50 million dollars in Series B financing. The round was led by BAM Elevate with participation from new and existing investors including Harbor Spring Capital, Northern Trust, Simon, Costanoa Ventures, Hyde Park Venture Partners and Equal Ventures. The new capital will be used to accelerate...

12 hours ago

Fashion

Hermès names beauty creative director

Gregory Pyrpylis has been tapped by Hermès Beauty to be their new creative director. He will report to Agnès de Villers, president of Hermès Parfum and Beauté, and he will work under the brand’s artist director, Pierre-Alexis Dumas. In 2020, Hermès expanded their beauty division beyond perfumes by adding cosmetics including lipstick, powders,...

13 hours ago

Culture

Veteran editor launches luxury content platform, La Patiala

Acclaimed journalist Kristen Shirley has launched a new “online encyclopedia” covering everything from beauty and style to travel and food. Shirley, an ex-Elle employee and prior luxury editorial director at Elite Traveler, developed the website as a location for readers to gain an insight into what makes certain brands, products and...

13 hours ago