Michael Kors’ parent company’s second-quarter sales plummeted by 17%
In the three months ending on December 26 last year, the American light luxury group Capri's sales plummeted 17% to US$1.3 billion, but it was still profitable, and its net profit fell 15% to US$178 million, surpassing analysts expected. By brand, the core Michael Kors revenue plunged 17.8% to US$986 million, Versace recorded the same level as the same period last year at US$195 million, and Jimmy Choo fell 27% to US$121 million.
Off-White's revenue in China increased by 10% last year
New Guards Group CEO Andrea Grilli revealed in an interview a few days ago that Off-White's e-commerce business grew strongly last year, and its share of total revenue soared from 3% to 16%. By region, Europe is the largest market for brands, accounting for 40%, followed by Asia and the United States, each accounting for 30% of the total. Among them, the Chinese business recorded a 10% growth last year. During the period, Off-White was launched in China. With the addition of Weibo and WeChat accounts, there will be more localized penetration in the future.
Stella McCartney owes $1 million in rent
According to Fashion Business Express, since the second half of last year, Stella McCartney, the world's largest luxury goods group holding a minority stake in LVMH, has been involved in a rent dispute over its flagship store on Madison Avenue. The overdue rent has reached US$1 million. Mallett Inc., the second landlord of the store, filed a lawsuit with the court after the recovery was unsuccessful, not only asking Stella McCartney to make up the rent, but also hoping that the brand can prepay more than $9 million in rent according to the previously signed contract.
Stella McCartney believes that when the brand signed a lease with Mallett Inc. in 2016, Madison Avenue was one of the most popular shopping destinations in the world. Commercial value will be difficult to recover in the foreseeable future, and the previous contract is no longer applicable.
Honest Company invested by LVMH private equity fund will apply for IPO
According to Bloomberg News, Honest Company, a baby skin care brand invested by LVMH private equity fund L Catterton, is preparing to go public and will formally submit an IPO application to the US Securities and Exchange Commission as soon as Friday, with a valuation of up to 2 billion US dollars. Honest Company was founded by actor Jessica Alba in 2012. In order to establish a trust relationship with consumers, all ingredients of the series will be clearly marked on the packaging and promise not to use more than 3000 types that are known to be harmful to health or the environment. Ingredients.
CVC Capital will acquire Shiseido's personal care business for US$1.5 billion
In order to achieve the goal of becoming the world's top beauty group by 2030, Shiseido has reached an agreement with the private equity fund CVC Capital to sell its personal care business, including Tsubaki, Senka, Uno and Sea Breeze, for US$1.5 billion. Brand, related transactions will be completed on July 1, when the two parties will establish a company called Oriental BeautyA joint venture company, Shiseido will hold 35% of the shares.
Dr. Martens's share price fell 1.3% on the first day of listing
Martin boot brand Dr. Martens officially landed on the London Stock Exchange on Wednesday with the stock code "DOCS". The opening stock price was 4.54 pounds, which was higher than the issue price of 3.7 pounds, and then fell 1.3% to 4.45 pounds at the close. Permira, the parent company of Dr. Martens, said it would retain 42.9% of the brand's shares and emphasized that Dr. Martens has become one of the most successful footwear brands in the world.
LV will launch its first chocolate brand
According to Fashion Business News, the 40-year-old Louis Vuitton Ginza Namikidori store in Tokyo, Japan has been renovated and will reopen on March 17, when Louis Vuitton’s first chocolate brand Le Chocolat V will also be launched. Will settle in. The brand’s chocolate taste was developed by Yosuke Suga, the principal of Louis Vuitton coffee shop Le Café V. The exterior is decorated with the brand’s iconic monogram. It will be sold in boxes, divided into 4, 9 and 16 pieces. And 125 pieces of several specifications.
Estee Lauder established an innovative R&D center in China
According to the Tianyan Check App, the Estée Lauder Companies Group formally registered the Estée Lauder Innovation Research and Development (China) Co., Ltd. at the end of last month. The registration authority was changed on February 1. The legal representative is TRAVIS with a registered capital of USD 7.25 million. The business scope includes Research and development of cosmetics, skin care products, perfumes, hair care and dyeing products, cosmetic appliances and containers, transfer of own research and development results, inspection and testing services, import and export of goods, conference and exhibition services, etc.
Many luxury brands withdrew from Tokyo’s new landmark "Ginza No. 6"
According to Reuters, affected by the sharp drop in the number of international tourists caused by the epidemic, GSIX Ginza 6, the largest retail store in Tokyo’s Ginza area, is facing a wave of luxury brand surrenders. As of January this year, there are about 15 luxury brands and high-end brands. Brand exits include Italian luxury brand Moschino, makeup brand Shiseido and Shu Uemura.
It is worth noting that the investors of Ginza No. 6 include not only the Japanese retail giant J. Front Retailing, but also the L Catterton private equity fund controlled by the Bernard Arnault family of the world's largest luxury goods group LVMH.
Under Armour will terminate the license agreement with the NFL
According to the British "Financial Times" news, Under Armour will terminate the on-field licensing contract with the National Football League, which means that the brand logo will no longer appear on the field of rugby matches. Under Armour and the players The separate contract between China is still undergoing reassessment. However, analysts are optimistic about the prospects for Under Armour to turn losses into profits, and on Wednesday reiterated the "buy" rating of the group's shares.
Osumi Takeshi, designer of Japanese menswear brand Mistergentleman, passed away
The Japanese menswear brand Mistergentleman recently announced via an Instagram account that co-founder and designer Takeshi Osumi had passed away from sepsis last month at the age of 47. The brand plans to release its Fall 2021 collection at Tokyo Fashion Week in March to commemorate Takeshi Osumi, followed by a farewell party. Mistergentleman was co-founded by Takeshi Osumi and Yuichi Yoshii in 2012. It mainly sells branded products in stores in Japan, China, South Korea and Indonesia.
The editor-in-chief of the Russian version of "Tatler" will take over the Russian version of "Vogue"
Condé Nast Russia announced on Wednesday that it has appointed Ksenia Solovieva as the editor-in-chief of the Russian version of Vogue, replacing Masha Fedorova, who has decided to resign. According to data, Ksenia Solovieva joined Condé Nast in 2007 as the beauty director of the Russian version of "Tatler", was promoted to associate editor, and became editor-in-chief in 2010. Under her leadership, "Tatler" became the most exposed multimedia fashion magazine in Russia, with 3 million readers.
Shanghai Fashion Week may be postponed to April due to the epidemic
According to sources quoted by FashionNetwork, due to the recent epidemic in Huangpu District, Shanghai, Shanghai Fashion Week originally scheduled to be held from March 25 to April 3 has been postponed or changed to April 6 to 13 Held. So far, the organizers of Shanghai Fashion Week have not responded to this.
Baozun E-commerce's wholly-owned acquisition of Full Jet will focus on luxury goods business
Baozun E-commerce recently announced that it has signed a share purchase agreement with all shareholders of Full Jet, and will acquire all the shares of Full Jet. The transaction will be completed around February 10. Full Jet's main business is to formulate market strategies for high-end and luxury brands entering the Chinese market, including brand development, strategic consulting, e-commerce operations and marketing. Qiu Wenbin, CEO of Baozun e-commerce, said that high-end and luxury goods business will become a strong growth driver for Baozun, which is expected to bring the company an annual GMV of RMB 20 billion in the next three to five years.
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