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Bernard Arnault buys one-quarter stake in fellow French patron Arnaud Lagardère’s holding company

Bernard Arnault buys one-quarter stake in fellow French patron Arnaud Lagardère’s holding company

Bernard Arnault, Europe’s richest man, has acquired a one-quarter stake in Arnaud Lagardère’s holding company, in a move that will be seen as an attempt to support the family of his fellow French billionaire.
Fashion
Italy's Luxottica trials workers' tag to fight coronavirus

Italy's Luxottica trials workers' tag to fight coronavirus

Luxottica will give employees a monitor that alerts them if they are not respecting social distancing rules and keeps track of contacts with people potentially at risk of coronavirus infection, it said on Thursday. 
Fashion
Farfetch revenue soars as online is only game in town

Farfetch revenue soars as online is only game in town

Farfetch saw its revenue almost doubling in the first quarter as lockdowns meant online was the only option for luxury fashion shoppers. The firm remains loss-making but says it's still on target for profits next year.
Fashion
EU regulators set new August 13 deadline for EssilorLuxottica's Dutch deal

EU regulators set new August 13 deadline for EssilorLuxottica's Dutch deal

EU antitrust regulators have set a new deadline of Aug. 13 for their decision on Ray-Ban maker EssilorLuxottica’s 7.2-billion-euro bid for Dutch opticians group GrandVision, a European Commission filing shows.
Fashion
Inspecs revenues and profits soar in “milestone year”

Inspecs revenues and profits soar in “milestone year”

The Bath-based eyewear manufacturer more than doubled pre-tax profits to $7.35 million in 2019 as revenues jumped nearly 7% to $61.25 million. The British company reports in US dollars.
Fashion
Designers, fashion CEOs and retailers call for revolt against existing delivery system

Designers, fashion CEOs and retailers call for revolt against existing delivery system

A group of fashion CEOs, retailers and designers, including luminaries like Dries Van Noten, Tory Burch and Craig Green, have called for a major rethink in fashion deliveries and greater sustainability in an open letter.
Fashion
Luxury department store chain Neiman Marcus files for bankruptcy

Luxury department store chain Neiman Marcus files for bankruptcy

Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic.
Fashion
Safilo sales slide due to coronavirus store lockdowns

Safilo sales slide due to coronavirus store lockdowns

Italian spectacles maker Safilo reported a steep decline in first-quarter sales on Wednesday as the coronavirus prompted the temporary closure of most of its stores.
Fashion
EssilorLuxottica sales slump on coronavirus hit, worst yet to come

EssilorLuxottica sales slump on coronavirus hit, worst yet to come

Oakley and Ray-Ban maker EssilorLuxottica reported a slump in first-quarter sales on Tuesday and warned of an even bigger hit in the current quarter as the coronavirus outbreak prompted store closures.
Fashion
Digitalisation increasingly important for eyewear, says Mondottica chief Tony Pessok

Digitalisation increasingly important for eyewear, says Mondottica chief Tony Pessok

From Scotch & Soda and Hackett launches to accelerating digitalisation and new contracts being prepared, eyewear giant Mondottica has been ultra-busy in 2020, despite the pandemic. Its CEO spoke to Fashionnetwork.com.
Fashion
Laybuy runs its discount event in UK for first time

Laybuy runs its discount event in UK for first time

Laybuy, the buy now, pay later specialist from New Zealand, hosted its first day of deals for UK customers on Thursday in partnership with some of Britain’s best-known retailers.
Fashion
Balmain donates eyewear to help fund the fight against COVID-19

Balmain donates eyewear to help fund the fight against COVID-19

The French luxury house, which has been playing an active role in the ongoing health crisis, has announced its participation in a fundraiser to support the fight against COVID-19.
Fashion
Primark won't go online just because of lockdown says CEO

Primark won't go online just because of lockdown says CEO

Primark is not considering making the jump to e-commerce, despite seeing sales plunge from £650 million a month to zero due to store closures.
Fashion
Vuarnet donating 20% of April revenues to healthcare personnel

Vuarnet donating 20% of April revenues to healthcare personnel

Vuarnet will donate 20% of its April revenues to healthcare personnel, entering the struggle against Covid-19. The famed sunglass manufacturer will contribute its donation to the fund All United Against the Virus.
Fashion
Safilo sales hurt by Covid-19 but supply chain almost back to normal

Safilo sales hurt by Covid-19 but supply chain almost back to normal

Italian eyewear giant Safilo has withdrawn the guidance it issued just a few months ago and said that first-quarter sales were down in double-digits due to the accelerating coronavirus pandemic.
Fashion
Galeria Karstadt Kaufhof files for creditor protection

Galeria Karstadt Kaufhof files for creditor protection

German department store Galeria Karstadt Kaufhof and its subsidiary Karstadt Sports have filed for creditor protection after seeing a drop in sales as a result of the coronavirus crisis.
Fashion