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LVMH insists it's not buying Tiffany shares on market; suggesting deal to go ahead, but at lower price

LVMH insists it's not buying Tiffany shares on market; suggesting deal to go ahead, but at lower price

With rumors mounting that Bernard Arnault may be attempting to renegotiate a lower deal price for LVMH’s acquisition of Tiffany, the luxury group said Thursday it will not buy any shares in the jeweler on the market.
Fashion
Parisian department store Galeries Lafayette Haussmann launches personalised remote shopping

Parisian department store Galeries Lafayette Haussmann launches personalised remote shopping

The ‘Exclusive Live Shopping’ video service links up individual customers at their homes with shop assistants at the department store’s boulevard Haussmann branch; 120 brands are participating in the initiative.
Luxury
LVMH's Arnault mulls ways to renegotiate deal with Tiffany - sources

LVMH's Arnault mulls ways to renegotiate deal with Tiffany - sources

The LVMH CEO is exploring ways to reopen negotiations on the French luxury goods giant's $16.2 billion acquisition of Tiffany & Co, as U.S. social unrest and the coronavirus pandemic weigh on the retail sector.
Luxury
Kering takes public stand against racism: contributes to NAACP and to Campaign Zero

Kering takes public stand against racism: contributes to NAACP and to Campaign Zero

Kering, one of the largest luxury groups on the planet, has made financial commitment to fight racism, with contributions to the NAACP and to Campaign Zero – following eight days of protests in multiple American cities.
Fashion
Hopes high for retail as Westfield owner's global comeback sees healthy footfall

Hopes high for retail as Westfield owner's global comeback sees healthy footfall

Shopping malls giant Unibail-Rodamco-Westfield has made “strong progress” with its mall reopenings globally with 65 of 90 now open. And indications are that footfall and trade is stronger than expected in many countries.
Fashion
Global luxury labels joining Alibaba sales event have doubled

Global luxury labels joining Alibaba sales event have doubled

Alibaba's 6.18 Mid-Year Shopping Festival (running on Tmall and Taobao) has seen a luxury surge. Almost double the number of luxury brands are participating compared to the last big event, 2019’s Singles Day in November
Fashion
As U.S. protests against racial injustice continue, more brands speak out and donate

As U.S. protests against racial injustice continue, more brands speak out and donate

Ganni, Glossier, Anastasia Beverly Hills and Marc Jacobs Beauty are among several brands to announce monetary contributions to organizations supporting protestors and fighting injustice. 
Fashion
YNAP launches AI research project with Italian university

YNAP launches AI research project with Italian university

YNAP has announced the launch of a new programme to boost development of AI-based technologies designed to transform the e-tail experience. That will include features such as visual search and virtual try-on.
Fashion
Companies respond to U.S.-wide protests against racism and injustice

Companies respond to U.S.-wide protests against racism and injustice

Nordstorm, Target, Marc Jacobs and Virgil Abloh were among many to release statements in regard to the protests, receiving mixed responses from the public. 
Fashion
A Common Thread names Bode, Rodarte, Brother Vellies and Rachel Comey among first round of grant recipients

A Common Thread names Bode, Rodarte, Brother Vellies and Rachel Comey among first round of grant recipients

The CFDA and Vogue's Covid-19 relief fund announced that $2.13 million will be distributed to 44 businesses in the fund's first round.
Luxury
Famed Paris store Galeries Lafayette to reopen

Famed Paris store Galeries Lafayette to reopen

Paris's famed Galeries Lafayette department store, which receives some 37 million visitors every year, will reopen this weekend after being shuttered for nearly three months by the coronavirus pandemic, it said Friday.
Luxury
Prada sees 10%+ sales rise in China, but Europe will stay slow

Prada sees 10%+ sales rise in China, but Europe will stay slow

Prada has seen a double-digit increase in comparable sales in China this month, although there's still some way to go before the company can say its China business is back to full health following the lockdown.
Fashion
Nordstrom sales plunge nearly 40% on pandemic-led store closures

Nordstrom sales plunge nearly 40% on pandemic-led store closures

Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40% slump in quarterly sales, as lockdowns to contain the Covid-19 pandemic shut stores.
Luxury
Italy's Intesa Sanpaolo to boost financing for Gucci supply chain

Italy's Intesa Sanpaolo to boost financing for Gucci supply chain

Italy's biggest retail bank Intesa Sanpaolo has signed an accord with Gucci to ease financing for the small businesses that supply the Florentine luxury goods group owned by France's Kering.
Luxury
Farfetch partners with Portuguese universities to develop ultimate chatbot

Farfetch partners with Portuguese universities to develop ultimate chatbot

Farfetch has launched a €2.3m project to create the next generation of chatbots in partnership with Universidade Nova de Lisboa and Instituto Superior Técnico.
Luxury
Harrods Outlet to open in Westfield to thin out clearance sale crowds

Harrods Outlet to open in Westfield to thin out clearance sale crowds

Luxury department store Harrods will open a new Outlet branch in Westfield London for its clearance sale, relieving pressure on its flagship and allowing it to focus on new collections in the Knightsbridge store.
Luxury