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☆ Eat, sleep, live luxury: LVMH is building whole cityscapes centered on their designer stores
▼ + stars: | 2024-04-28 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +5 min

Luxury powerhouse LVMH is investing billions in real estate, The Wall Street Journal reported. Michael Burke, head of LVMH Fashion Group, told the Journal, "We're creating a city." According to the Journal, the company spent $2.1 billion last year acquiring properties in Paris ahead of the Olympic games. Related storiesThe luxury brand is among several spending billions on luxury stores and experiences. Chanel and LVMH are also interested in purchasing properties on New York's Fifth Avenue and the Champs-Élysées in Paris, the Journal reported.

Persons: —, Louis Vuitton Moët Hennessy, Louis Vuitton, Frank Gehry, Michael Burke, we're, Burke, Bernard Arnault, Saint Laurent, Chanel, LVMH, Amar Sitayeb, Saint, Alan DeSousa Organizations: Street Journal, Service, Wall Street Journal, Dior, LVMH, Design, Miami Design District, Gucci, Montenapoleone, The New York Times, Times, Canada, Laurent, Global News, Business Locations: Paris, Pont Neuf, Miami, Montreal, Milan's, New, The, Marais

☆ Cristóbal Balenciaga: Secrets of his success
▼ + stars: | 2024-01-19 | by ( Suyin Haynes | ) edition.cnn.com time to read: +9 min

Yet the label’s origins were rather more discreet; founder Cristóbal Balenciaga was renowned for his privacy, secrecy and need for control over every aspect of the design process. “Even though Balenciaga was born very near to where I live in Spain, I didn’t know how important his figure was,” said Lourdes Iglesias, creator of “Cristóbal Balenciaga,” in an interview with CNN via a translator. Cristóbal Balenciaga in 1927, before the war in Spain forced him to move his business to Paris. “He liked to control everything.”The Balenciaga Maison allowed series’ costume designers, Bina Daigeler and Pepo Ruiz Dorado, access to their archives and museum. It’s clearly a very different era now than the one in which Cristóbal Balenciaga was working in.

Persons: Cristóbal Balenciaga, Cristóbal, Balenciaga, —, “, ”, Lourdes Iglesias, David Herranz, Iglesias, Coco Chanel, Elsa Schiaparelli, Boris Lipnitzki, Roger Viollet, Balenciaga ”, Alberto San, Maison, couturiers, d’Attainville, Christian Dior, ” Coco Chanel, Hubert de Givenchy, Grace Kelly, Wallis Simpson, Marlene Dietrich, Carmel Snow, Diana Vreeland, Maison Balenciaga, Bina Daigeler, Pepo Ruiz, Daigeler, Victor Seco, ” Iglesias, Jacques Bogart, Nicolas Ghesquière, Demna, It’s Organizations: CNN, Disney, Jacques Bogart SA Locations: Spain, Paris, Getaria, Basque, Madrid, San Sebastian, Barcelona, French, Alberto San Juan ., Nazi, France, Pepo Ruiz Dorado, Belgian, Europe

☆ Benko's complex web at Signa - from Chrysler building to Berlin landmark
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +6 min

SIGNA PRIME/PROPERTY PORTFOLIOAccording to Signa, Prime is the group's largest company in its real estate division, valued at around 20.4 billion euros ($22.23 billion). Since 2019 Signa Holding has also been a co-owner of New York's iconic Chrysler Building. TRADING/RETAIL COMPANIESBenko has bundled his trading interests under the divisions Signa Retail and Signa Premium. In Switzerland, Benko's trading investments are bundled into Signa Retail Selection AG, which filed for bankruptcy protection on Wednesday. In 2018, Signa Holding bought around 24% stake in Austrian daily newspapers "Krone" and "Kurier" from Funke media group.

Persons: Lisi Niesner, Rene Benko, Ernst Tanner, Hans Peter Haselsteiner, Torsten Toeller, Arthur Eugster, SIGNA, Signa, Otto Wagner, Benko's, Klaus, Michael Kuehne, Kuehne, Hamburg's, Chirathivat, Benko, Frasers, Kaufhof, Karstadt, Galeria, Alexandra Schwarz, Goerlich, Mattias Inverardi, Victoria Farr, Emma, Rachel More, Elisa Martinuzzi, Tomasz Janowski Organizations: Signa, REUTERS, Chrysler, Bank Austria, Femina, Chrysler Building, . Central Group, Globus, Selfridges, Central Group, Funke, Thomson Locations: Berlin, Germany, New, Britain's Selfridges, Innsbruck, Swiss, Vienna, Hamburg, KaDeWe, Oberpollinger, Munich, Vienna's, Tyrol, Essen, Duesseldorf, London, Switzerland

☆ UK's Frasers plans to buy SportScheck assets out of administration
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

'SportScheck' store is seen closed due to the coronavirus disease (COVID-19) pandemic in Munich, Germany, February 5, 2021. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsNov 30 (Reuters) - British sports and fashion group Frasers (FRAS.L) said on Thursday it will seek to buy SportScheck's business and assets out of administration after the German sporting goods retailer filed for insolvency. Signa on Wednesday filed for self-administered reorganisation proceedings, and media reports followed on Thursday that SportScheck would also file for insolvency. Frasers confirmed SportScheck's administration in its statement and said it exercised its rights under its agreement with Signa to withdraw from the deal. However, the London-listed group said it intends to work with SportScheck's appointed administrator to purchase its business and assets.

Persons: Michaela Rehle, Frasers, Signa, SportScheck, SportScheck's, Sri Hari, Krishna Chandra Organizations: REUTERS, SportScheck, Retail, Sports, Sri, Thomson Locations: Munich, Germany, London, SportScheck, Bengaluru

☆ Focus: Giorgio Armani fashions his own legacy with succession plan
▼ + stars: | 2023-11-15 | by ( Elisa Anzolin | ) www.reuters.com time to read: +6 min

[1/5] Giorgio Armani appears at the Emporio Armani Spring/Summer 2024 collection fashion show during Milan Fashion Week in Milan, Italy, September 21, 2023. All are currently board members and, apart from Rosanna, all work for the Armani group. The Armani group has almost 9,000 employees. Any eventual stock market listing requires the favourable vote of the majority of directors "after the fifth year following the entry into force of this statute". The Armani group declined to comment on a potential listing in the mid-term.

Persons: Giorgio Armani, Claudia Greco, Armani, Pantaleo Dell'Orco, Guido Corbetta, Rosanna, Silvana, Roberta, Andrea Camerana, Dell'Orco, women's, Bernard Arnault, Sergio Galeotti, Hans Wilsdorf, Gucci, Corbetta, outlast, Elisa Anzolin, Keith Weir, Alexander Smith Organizations: Milan, REUTERS, Reuters, Milan's Bocconi University, Armani, Entertainment, VIP Relations, Rolex, Kering, Thomson Locations: Milan, Italy, MILAN

☆ Stocks making the biggest moves premarket: Plug Power, Illumina, Diageo and more
▼ + stars: | 2023-11-10 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Wynn notched an adjusted 99 cents per share on $1.67 billion in revenue, while analysts polled by LSEG forecast 75 cents and $1.59 billion. Illumina's revenue was lower than analysts' estimates, although the company had beat on adjusted earnings per share in the third quarter. After the closing bell Thursday, Plug Power had reported a surprisingly larger loss for the third quarter along with disappointing revenue. TKO Group — The stock tumbled 7.5% after Executive Chairman Vince McMahon said he planned to sell 8.4 million shares of the WWE parent company. The company posted third-quarter adjusted earnings and revenue that exceeded estimates, however.

Persons: Wynn, Vince McMahon, LSEG, —, Alex Harring, Tanaya Macheel, Brian Evans Organizations: Wynn Resorts, LSEG, Wynn, Diageo —, RBC Capital Markets, WWE, McMahon, Capri Locations: Wynn Macau, America, Caribbean

☆ Stocks making the biggest moves after hours: Wynn Resorts, Illumina, Unity Software, The Trade Desk and more
▼ + stars: | 2023-11-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Synaptics posted per-share adjusted earnings of 52 cents on revenue of $238 million. Analysts had estimated earnings of 40 cents per share on $233 million in revenue, according to LSEG. Unity Software — The video game software company declined nearly 14% after its third-quarter revenue missed expectations. Meanwhile, the company posted adjusted earnings and revenue above analysts' estimates in the third quarter. Capri posted adjusted earnings of $1.87 per share on $1.29 billion in revenue.

Persons: Wynn, Synaptics, LSEG, Vince McMahon, John D, Idol Organizations: Wynn, Unity Software, Capri

☆ Kering Sales Miss Forecasts Amid Luxury Industry Slowdown
▼ + stars: | 2023-10-24 | by ( Mauro Orru | ) www.wsj.com time to read: 1 min

Gucci sales slipped 7% on a comparable scope and exchange rate basis to €2.22 billion in the third quarter. Photo: Nathan Laine/Bloomberg NewsKering posted sales below analysts’ expectations for the third quarter, becoming the latest fashion group to reel from a slowdown in the luxury-goods industry as the postpandemic boom fades. The owner of Gucci and Yves Saint Laurent on Tuesday reported revenue of €4.46 billion ($4.76 billion) in the three months to the end of September, down 13% in reported terms and 9% on a comparable scope and exchange-rate basis. Analysts had forecast sales of €4.52 billion, according to FactSet.

Persons: Nathan Laine, Kering, Gucci, Yves Saint Laurent Organizations: Bloomberg, Analysts

☆ Moschino names former Gucci designer Renne creative director
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

A model presents a creation from the Moschino Spring/Summer 2024 collection during Fashion Week in Milan, Italy, September 21, 2023. REUTERS/Claudia Greco/File photo Acquire Licensing RightsMILAN, Oct 16 (Reuters) - Italian fashion group Aeffe (AEF.MI) said on Monday that former Gucci's head designer of womenswear Davide Renne would be the new creative director of its Moschino brand starting on Nov. 1. Renne will take the place of Jeremy Scott, who stepped down after a decade as Moschino's creative director, the group said. Renne will make his debut during February's 2024 Milan Fashion Week with the Fall/Winter 24-25 collection. "We are confident that he will play a pivotal role in shaping the future of Moschino," Aeffe executive chairman Massimo Ferretti said in a statement.

Persons: Claudia Greco, womenswear Davide Renne, Jeremy Scott, Massimo Ferretti, Alberta Ferretti, Lorenzo Serafini, Elisa Anzolin, Bernadette Baum Organizations: REUTERS, February's, Alberta, Thomson Locations: Milan, Italy, Aeffe

☆ 3 retailers weigh in on how a financial technology platform helped solve their enterprises' most pressing challenges
▼ + stars: | 2023-09-27 | by ( Sponsor Post | Created Insider Studios With Adyen | ) www.businessinsider.com time to read: +5 min

From arts and entertainment to health and wellness, businesses across industries are tapping into financial technology to drive growth. Below are three tips to help enterprises stay informed on the latest financial technology trends, while delivering value to their customers and employees. Choosing a single payment platform is a good starting point for increasing agility, but the type of platform you choose matters. Taking the next stepFor businesses looking to scale amid a changing economic landscape, a single financial technology platform isn't just a choice; it's a necessity. Learn more about how Adyen's single payment platform can help your enterprise meet the evolving needs of customers and businesses.

Persons: —, Pepe Jeans, Vázquez Cabezas Organizations: Enterprise, Terme, Federal Reserve Bank of San, Connect, Marketing, Insider Studios Locations: Federal Reserve Bank of San Francisco, Adyen

☆ Elon Musk, Mark Zuckerberg, and Jeff Bezos have topped a list of mega-billionaires enjoying an eye-watering wealth jump in 2023
▼ + stars: | 2023-09-22 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Elon Musk, Mark Zuckerberg, and Jeff Bezos have topped a list of billionaires who saw the biggest wealth increases in 2023. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Musk saw the steepest jump in net worth with a $99 billion increase to $236 billion, cementing his position as the world's richest person. 2 on the list of wealth gainers, with a $61.9 billion increase in his riches to $108 billion. Nvidia CEO Huang's wealth surged by $22.2 billion in 2023 as the chipmaker's stock rocketed 187%, outperforming every other stock in the S&P 500 index.

Persons: Elon Musk, Mark Zuckerberg, Jeff Bezos, Nvidia's Jensen Huang, Larry Page, Sergey Brin, Musk, Zuckerberg, Larry Ellison, Steve Ballmer, Michael Dell, Amancio Ortega, Ortega Organizations: Bloomberg, Google, Service, Meta, Nvidia Locations: Wall, Silicon

☆ Fringes and slime at Prada Milan Fashion Week show
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

[1/5] A model presents a creation from the Prada Spring/Summer 2024 collection during Fashion Week in Milan, Italy, September 21, 2023. REUTERS/Alessandro Garofalo Acquire Licensing RightsMILAN, Sept 21 (Reuters) - Models walked amid slime falling from the ceiling at Prada's catwalk show on Thursday, as the Italian luxury label presented its latest womenswear collection at Milan Fashion Week. Designers Miuccia Prada and Raf Simons opened the Spring/Summer 2024 show with an all-grey shirt and shorts look, worn with a patterned scarf on top. Milan, which will host shows by other fashion heavyweights including Giorgio Armani, Gucci, Dolce & Gabbana and Versace, is the third leg of the month-long Spring/Summer 2024 catwalk calendar that began in New York in early September. Milan Fashion Week runs until Monday.

Persons: Alessandro Garofalo, Miuccia Prada, Raf Simons, Miu Miu, Scarlett Johansson, Emma Watson, Benedict Cumberbatch, Vincent Cassel, Simons, Fabio Zambernardi, Giorgio Armani, Gucci, Versace, Marie, Louise Gumuchian, Elisa Anzolin, Christina Fincher Organizations: Prada, REUTERS, Milan Fashion, Dolce, Milan, Thomson Locations: Milan, Italy, Hong Kong, New York, London, Paris

☆ Rome moves to clear rats out of Colosseum area
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +2 min

View of the Colosseum dungeons which have been restored in a multi-million euro project sponsored by fashion group Tod's in Rome, Italy, June 24 2021. The operation will continue next week, the city government said in a statement, cleaning up the green areas surrounding the Colosseum, the drains where the rats are commonplace, and laying traps. There are around 7 million rats in the city, the statement said, or 2.5 for every inhabitant. City hall issued photos of cleaning staff collecting heaps of plastic water bottles, drink cans and other debris against the backdrop of an illuminated Colosseum. Built 2,000 years ago, the Colosseum was the biggest amphitheatre in the Roman empire and was used to host gladiator fights, executions and animal hunts.

Persons: Remo Casilli, Sabrina Alfonsi, Alfonsi, Gavin Jones, Alvise Armellini, David Holmes Organizations: REUTERS, Rights, Thomson Locations: Rome, Italy, Rome's

☆ What really is plus-size fashion? Experts weigh in on the term’s meaning
▼ + stars: | 2023-08-08 | by ( Kristen Rogers | ) edition.cnn.com time to read: +11 min

But what’s really considered a plus-size body or garment? Mike Coppola/Getty ImagesThough there are no universal criteria for plus-size clothing, the general perception of what constitutes plus-size has changed over time. Sixty-seven percent of US women are considered plus-size, Downing Peters said. The dearth of plus-size clothing adds to a stigma that makes people with bigger bodies feel marginalized, she added. Other stores have meanwhile stopped separating standard and plus-size clothing into different departments, which may help eliminate stigma, Keist said.

Persons: Ashley Graham, Paloma Elsesser, Precious Lee, Tess Holliday, what’s, ”, Lauren Downing Peters, Mike Coppola, “, Marilyn Monroe, ’ ”, Carmen Keist, —, Downing Peters, Monroe wouldn’t, ” Downing Peters, it’s, Emma McClendon, Keist, Jeff Greenberg, ” Keist, ” “, Tim Wimborne, Mina White, White, Jacopo Raule, we’ve, lionizing, ’, Fang, Lane Bryant, Christian Siriano, Michael Kors, I‘d Organizations: CNN, Columbia College Chicago, New York, Bradley University in, Bettmann, Getty, St, John’s University, El, Fashion Group, Reuters, Vogue, Brands, Universal, Dia, Co Locations: Bradley University in Illinois, Korea, United States, United Kingdom, British, New York, El Corte, Spain, Sydney, Florence, inclusivity, Meijer

☆ Hugo Boss stays strong in tough China, U.S. markets
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Hugo Boss store is seen in Polanco in Mexico City, Mexico May 20, 2017. Its business in EMEA and the Americas benefited from a pick-up in tourism, Hugo Boss said, while currency-adjusted revenue in China increased 56% from a year earlier, making the Asia-Pacific region the strongest for the company. The company expects its annual sales to grow 12% to 15% and reach 4.1 billion to 4.2 billion euros, compared with its previous forecast for about 10% growth to 4 billion euros. Hugo Boss forecasts its 2023 operating profit to grow 20% to 25% to a level of 400 million to 420 million euros, versus its prior range of 10% to 20%. Shares of Hugo Boss were seen up 0.7% in early Frankfurt trade.

Persons: Hugo Boss, Henry Romero, Hugo, JP Morgan, Linda Pasquini, Milla Nissi, Christopher Cushing Organizations: REUTERS, U.S, Group, Thomson Locations: Polanco, Mexico City, Mexico, China, Asia, EMEA, Americas, Pacific, Frankfurt, Gdansk

☆ Italy's luxury groups set aside rivalries to keep it local
▼ + stars: | 2023-07-14 | by ( Elisa Anzolin | ) www.reuters.com time to read: +5 min

SMALL MANUFACTURERS APLENTYItaly is home to thousands of small manufacturers that cover 50-55% of the global production of luxury clothing and leather goods, consultancy Bain calculates. LVMH announced in May it had taken a majority stake in Nuti Ivo Group, an Italian company that has specialised in making leather products since 1955. Kering managing director Jean-Francois Palus said the luxury group is increasingly looking to bring production in house. "Italy has not created a (major) luxury hub, but we have entrepreneurs who have the ability to activate the right relationships at the right time," said Stefania Lazzaroni, general manager at Italian luxury industry association Altagamma. "Italian groups are now more managerialised, more organised and also stronger, which makes them more open to thinking together," he said.

Persons: Luigi Fedeli e, Zegna, Gildo Zegna, Ermenegildo, Kering, LVMH, Jean, Francois Palus, It's, Chanel, Brunello, Stefania Lazzaroni, Prada, Roberto Costa, Bertelli, Elisa Anzolin, Silvia Aloisi, Keith Weir, Jane Merriman Organizations: France MILAN, Prada, Filati Biagioli Modesto S.p.A, Biagioli, Prada Group, Reuters, Bain, Group, Nazionale della Moda, Global Luxury Investment Banking, Citigroup, Thomson Locations: Italy, France, Italian, Monza, Milan, Filati Biagioli, Bertelli, Nuti

☆ Tod's creative director Walter Chiapponi to step down
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Tod's is seen in a shop in downtown Rome, Italy February 10, 2016. REUTERS/Tony Gentile/File PhotoMILAN, July 12 (Reuters) - Italian luxury fashion group Tod's (TOD.MI) said on Wednesday that creative director Walter Chiapponi was leaving the company "by mutual agreement" after four years. Chiapponi will present his last Tod's Spring Summer 2024 women's collection in September at the Milan Fashion Week, the group said in a statement. Tod's did not name a replacement but said that a "new creative direction" would be announced in the coming months. The designer's departure was first reported by Women's Wear Daily (WWD) on Wednesday, citing unnamed sources.

Persons: Tony Gentile, MILAN, Walter Chiapponi, Chiapponi, Tod's, Women's, Walter, Diego Della Valle, Fay, Hogan, Roger Vivier, Elisa Anzolin, Keith Weir Organizations: REUTERS, Milan, Tod's, Thomson Locations: Rome, Italy

☆ Potential Olympics sponsorship deal tests LVMH heir Antoine Arnault
▼ + stars: | 2023-06-14 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

Discussions on the Olympics deal, being negotiated by Antoine, revolve around promotions focused on LVMH as a group, its two biggest fashion labels - the Louis Vuitton and Dior brands - as well as champagne. However, the behind-the-scenes role of the oldest of Arnault’s four sons, Antoine, hasn't been widely known. Although Antoine Arnault's work shepherding LVMH's sponsorship of the Olympic Games is taking place behind closed doors, the outcome would be highly public. Steve Martin, global CEO of M&C Saatchi Sport & Entertainment, said that while LVMH is already associated with France, a formal sponsorship of the Olympics would help to further differentiate LVMH from luxury rivals. “If we get involved it would be to help out,” LVMH fashion group CEO Sidney Toledano told Reuters.

Persons: Antoine Arnault's, Antoine Arnault, Bernard Arnault's, Bernard Arnault’s, Delphine Arnault, Dior, Antoine, Louis Vuitton, Bernard Arnault, hasn't, Tony Estanguet, Cristiano Ronaldo, Lionel Messi, ”, Steve Martin, LVMH, Martin, Sidney Toledano, –, we’re, Toledano, Mimosa Spencer, Sharon Singleton Organizations: Deal, Dior, FIFA, Olympic, Saatchi Sport & Entertainment, Olympic Games, Reuters, Thomson Locations: PARIS, LVMH, Paris, France, Qatar, Atlanta, London

☆ Italian fashion group Tod's sales jump in Q1, beating expectations
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

[1/3] Shoes of Italian luxury shoemaker Tod's are displayed in the window of the company's store in Zurich, Switzerland, April 25, 2019. REUTERS/Arnd Wiegmann/File PhotoMILAN, May 10 (Reuters) - Sales at Italian fashion group Tod's (TOD.MI) rose by 23% in the first quarter of the year, beating analysts' forecasts thanks to a strong performance in China and despite moderate growth in the Americas. "Considering the good sales trends we experienced in April and the excellent orders' backlog for the winter collections, I'm confident about the group's future results," said Tod's Chairman and CEO Diego Della Valle. In the United States sales rose 6.6%. Tod's CFO said he is confident of achieving the consensus sales figure for the year, currently at 1.1 billion euros.

☆ Fact Check-Altered image shows Donald and Melania Trump standing with Stormy Daniels
▼ + stars: | 2023-03-27 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

An image appearing to show former U.S. President Donald Trump and his wife Melania Trump standing alongside adult film star Stormy Daniels is digitally altered. The image is altered and juxtaposes a photograph of the Trumps taken in 2005 with an image of Daniels standing by herself captured in 2006. The original image of the Trumps shows Donald and Melania Trump standing alongside Ivanka Trump and was taken at The Fashion Group International's Night of Stars in New York on Oct. 27, 2005. A similar image showing Melania and Donald Trump standing with Ivanka to their left and Vanessa Haydon, Donald Trump Jr taken at a slightly different angle is viewable (here). The image is altered to juxtapose two separate images and make it appear as if Donald and Melania Trump were standing with Stormy Daniels.

☆ Prada brings blooming flowers to designs at Milan Fashion Week
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

[1/6] A model presents a creation from the Prada Fall/Winter 2023/2024 collection during Fashion Week in Milan, Italy, February 23, 2023. REUTERS/Alessandro GarofaloMILAN, Feb 23 (Reuters) - Florals bloomed on skirts, shoes and from the ceiling at Italian designer label Prada's Milan Fashion Week show on Thursday. Designers Miuccia Prada and Raf Simons turned wedding dresses into everyday looks, opening their autumn/winter 2023-24 catwalk presentation with a range of long and short white skirts embellished with white flowers and paired with knits. Models wore shirts with stick-out shoulders, knits and jackets with colourful inside collars, and pastel-coloured cigarette trousers paired with ribbed tops. Milan Fashion Week is the third leg of the month-long catwalk calendar, during which designers present their autumn/winter 2023-24 collections.

☆ Lanvin Group to open stores, hunt buys after U.S. SPAC listing
▼ + stars: | 2022-12-15 | by ( Casey Hall | ) www.reuters.com time to read: +3 min

SHANGHAI, Dec 15 (Reuters) - Chinese luxury fashion conglomerate Lanvin Group, owner of the eponymous French fashion brand, said it is scouting for buys and will open new stores, after a New York SPAC listing on Thursday that raised $150 million and valued it at $1.31 billion. U.S.-listed shares of Lanvin opened about 4% higher at $10.25, and more than doubled to $20.25 in early trade. However, we still feel quite happy about what we have achieved in such a challenging environment," Lanvin Group Chairman and Chief Executive Joann Cheng told Reuters in an interview. Group revenue for the company, which was originally known as Fosun Fashion Group before it rebranded as Lanvin Group in October last year, grew 73% year-on-year to 202 million euros ($215 million) in the first half of 2022. Lanvin Group's listing will test investor appetite in less-established luxury groups.

PARIS, Dec 9 (Reuters) - Antoine Arnault, LVMH chairman Bernard Arnault's eldest son, was on Friday named chief executive of family holding company Christian Dior SE, replacing veteran executive Sidney Toledano and stirring speculations of succession at the group. Christian Dior is a listed company that owns the bulk of the Arnault family's stake in LVMH (LVMH.PA) , the world's largest luxury group. At LVMH, Antoine Arnault, a business school graduate and a board member since 2006, oversees the group's communications and environmental issues, driving efforts to shore up its reputation. [1/4] Antoine Arnault, CEO of Berluti, attends the Fall/Winter 2019-2020 collection show for fashion house Berluti during Men's Fashion Week in Paris, France, January 18, 2019. Alexandre Arnault, 30, is an executive at Tiffany & Co. while Frederic Arnault, 27, is chief executive of TAG Heuer.

☆ Prada to name former Luxottica chief Andrea Guerra as new CEO
▼ + stars: | 2022-12-06 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: The company's logo is seen at a Prada store in Zurich, Switzerland January 25, 2021. REUTERS/Arnd Wiegmann(Reuters) -Italy’s Prada said on Tuesday that it would name former Luxottica chief Andrea Guerra as its new chief executive officer. Guerra will be recommended as the new CEO at a board meeting next month by controlling shareholder Prada Holding S.p.A., the luxury company said in a statement,Reuters reported last week that the fashion group was set to hire Guerra in a top management role to ease a transition at the helm to the next generation of the founding family. After overseeing a successful turnaround since 2017 to reverse a slide in sales, Prada CEO Patrizio Bertelli, 76, said a year ago he planned to hand over the reins of the group he leads with wife Miuccia Prada Bianchi to their 34-year-old son Lorenzo. “This is a fundamental step we have decided to undertake, while completely engaged in the company, to contribute more to the evolution of the Prada Group and to ease the succession of Lorenzo Bertelli, the future leader of the Group,” they said.

☆ Prada hires former Luxottica chief Andrea Guerra as new CEO
▼ + stars: | 2022-12-06 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann(Reuters) -Italian fashion group Prada confirmed on Tuesday that it would name former Luxottica chief Andrea Guerra as its new chief executive officer to ease a transition at the helm to the next generation of the founding family. Current CEO Patrizio Bertelli, 76, will be appointed chairman of the luxury company at annual shareholder meeting next spring. Current co-CEO Miuccia Prada, 73, will remain creative director of the Miu Miu and Prada brands - the latter together with Belgian designer Raf Simons - and a board member. Guerra, 57, will be recommended as the new CEO at a board meeting to be held on Jan.26 by Prada Holding, which owns 80% of Prada group. As Luxottica CEO from 2004 to 2014, the manager oversaw a more than doubling in sales at the spectacles manufacturer that has been producing and distributing eyeglasses under the Prada group’s Prada and Miu Miu brands since 2003.

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