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Walpole announces new board director Tuesday, 12th March 2013
Luxury brands trade body Walpole on Monday announced the appointment of Sue O’Brien to its board of directors. In addition to her new role on the board, O’Brien will continue to work as group chief executive of Norman Broadbent, as well as a board advisor to Emma Bridgewater and chairman of the “Unlock the Cure” appeal for Breast Cancer Campaign.
Coach handbag creator Lillian Cahn dies at 89 Friday, 8th March 2013
Lillian Cahn, the creator of the Coach handbag, has died at the age of 89. Having founded the Coach Leatherware Company in 1961, Lillian, along with her husband, Miles, were long associated with the American accessories retailer, creating a number of iconic handbags and tote shoppers for the label.
PPR said to be in talks with Italian jeweller Pomellato Friday, 8th March 2013
PPR is thought to be close to acquiring Italian jeweller Pomellato in a deal that would strengthen the retail conglomerate’s hold on the luxury sector. According to Reuters, sources close to the deal said PPR has recently emerged as a front-runner for the jeweller, after offers from other rivals were rebuffed.
Christian Dior SA celebrates 14% rise in sales Monday, 4th March 2013
Jennifer Lawrence stars in the Miss Dior Handbag campaign. Christian Dior SA, parent company of the Dior fashion house and LVMH Moët Hennessy Louis Vuitton reported a 14 per cent on-year rise in sales to EUR 22.81 billion in the nine months to the end of January. Sales of Christian Dior Couture rose 19 per cent to EUR 971 million in the nine months from 1 May 2012 to 31 January, while Dior continue to expand its retail network, growing by 24 per cent for the period and boosted by all product categories.
Mulberry brand director departs Tuesday, 19th February 2013
Mulberry brand director Georgia Fendley is set to leave the luxury British heritage company she has worked for since 2008. According to Design Week, Fendley’s five-year stint at the fashion house will come to an end as she looks to focus on her consultancy Construct and new design initiative Point.
LVMH in new joint venture to open luxury mall in Abu Dhabi Monday, 21st January 2013
The District Mall. Image credit: LVMH/ TDIC
French retail conglomerate LVMH is set to develop a luxury shopping mall in Abu Dhabi under a new joint venture with The Tourism Development and Investment Company (TDIC). LVMH-sponsored private equity fund L Real Estate will now look to develop a 168,000 sqm shopping centre on the Saadiyat Island in Abu Dhabi.
Net-A-Porter’s reported losses fail to slow down sales Monday, 14th January 2013
Despite reports of a £27 million loss last week, the designer fashion site has celebrated a 55 per cent sales rise from £238 million to £368 million in the past year according to the Mail on Sunday. The rise in sales comes after a year of expansion and investments within the business, with the acquisition of Asian online fashion dealer, Shouke for £6.6 million with which the company sought to break into the Chinese fashion market.
Fortnum & Mason fetes record-breaking Christmas Friday, 11th January 2013
Fortnum & Mason has reported its highest ever monthly sales in the run up to Christmas, rising 17.3 per cent in the four weeks to the end of December. A British icon and favourite with everyone from the Queen to Stephen Fry, saw strong trading across its gift lines, with Christmas tea towels and musical biscuit tins flying off the shelves.
LVMH denies Bulgari tax avoidance Saturday, 5th January 2013
Luxury retail behemoth LVMH has been forced to deny any wrongdoing after Italian press claimed police carried out an inspection into Bulgari’s tax payments. The prestigious jeweller has been accused of avoiding making tax payments in Italy of more than EUR 70 million, although LVMH watches and jewellery division president Francesco Trapani has denied any wrongdoing.
Gap to buy luxury boutique Intermix for $130m Thursday, 3rd January 2013
Gap Inc is reportedly set to buy women’s fashion boutique Intermix Inc in a deal worth USD 130 million as it looks to enter the luxury clothes market. According to the Wall Street Journal, Art Peck, president in charge of new brands at Gap, has said the apparel giant will double Intermix’s store numbers and look to expand the chain overseas.