Hermès heir to leave $11 billion to former employee
Nicolas Puech, the 82-year-old heir to the Hermès fortune is estranged from most of the family, and is unmarried and without children. Puech’s decision stems from a…
Category: Business
Walmart’s 80 dollar Birkin bag knockoff sparks huge controversy
Third-party sellers on Walmart‘s website recently listed some new handbag styles and social media users were quick to point out the bags looked quite similar to the famous Hermès handbag.…
BVLGARI opens new store in Riyadh
BVLGARI, the magnificent Roman jeweler and master of colored gems, celebrates the opening of a new boutique at Solitaire in Riyadh on the February 12,…
MONCLER reports double digit growth in 2024
Moncler Group surpassed sales of 3.1 billion euros in 2024 seeing growth in China as several competitors still lament a lackluster performance in that market, and with…
FERRAGAMO CEO is stepping down
Ferragamo announces CEO Marco Gobbetti is to step down from the helm of the company and the board by “mutual agreement”. The company said the board met on…
Christian Lacroix acquired by Sociedad Textil Lonia
Spanish company Sociedad Textil Lonia (STL) has reached an agreement to acquire 100 per cent of Christian Lacroix, the French fashion house synonymous with 1980s…
Saks acquires Neiman Marcus for a total of $2.7 billion
Late Monday afternoon, Saks Global disclosed that it has finalized its acquisition of Neiman Marcus Group for a total enterprise value of $2.7 billion, as has been expected. The…
AI-powered authenticators struggle to detect counterfeit luxury goods
Artificial intelligence still cannot compete with humans when it comes to scams, rip-off products and copycat items. Fake people can’t stop the biggest fakers of all:…
Zegna Group sales increase 6 % first half 2024
Italian luxury fashion group Ermenegildo Zegna NV was able to achieve an increase in sales in the first half of the 2024 financial year. However,…
Barcelona based PUIG valued at €13.9 billion
Barcelona-based PUIG Group has set the price guidance at €24.50 per share, according to terms seen by Bloomberg News, giving the company an implied market value of…
Luxury brands prices increase alienates aspirational consumers
In the past years major luxury brands have been increasing prices focusing on the highest end of the market spectrum and targeting the most affluent…
British luxury market grows to GBP 81 billion annually
Walpole‘s latest ”Luxury in the Making” study finds that British luxury is a high growth sector, having increased 69% to a value of £81bn in…
Farfetch to lay off a third of staff in 2024
Amid an ongoing upheaval of its management team, luxury e-tailer Farfetch is now also reportedly set to lay off between 25 and 30 percent of…
Swiss watch exports massively soaring
For the third consecutive year, watch exports experienced strong growth in 2023, exceeding the 26 billion francs mark for the first time. But a few…