The luxury slowdown also affected Tod’s. The Marche-based group closed 2024 with declining revenue and a loss, mainly to China. Meanwhile, the reorganization of the company’s corporate structure after its exit from the Milan Stock Exchange 13 months ago has come to a close. Declining revenue and a loss Tod’s Group joins the long list […]
The merger of Saks Fifth Avenue and Neiman Marcus last year with a $2.7 billion investment was supposed to consolidate the group’s position as a benchmark in the luxury industry. Instead, it seems, unity doesn’t bring strength. Indeed, months later, the signs are anything but positive. The two chains are losing ground to competitors such...
White Line Srl, a tannery in Ponte a Egola (San Miniato) specializing in the processing of exotic leathers for high fashion, got financial support from Mediocredito Centrale (MCC) and UniCredit. The two banks have jointly subscribed to a €3 million minibond, issued under the tool “Made in Italy” program. The eight-year loan will be used...
2025 isn’t just another year for the luxury world. It is a time of strategic transition that forces the industry to redefine priorities and visions. Outlining the prospects was Claudia D’Arpizio, partner at Bain & Company, who spoke at the third edition of Change Maker, organized by Zalando and CNMI. It was an opportunity to […]
Brazilian private equity firm 3G Capital, which also owns Burger King, is buying Skechers for $9.4 billion: it’s the largest acquisition in history for a footwear brand and the second largest ever in fashion after Tiffany’s one to LVMH (2020). But it’s also one of the most unlikely, because it’s the debut of 3G Capital […]
Independence runs in the family. At a time when acquisitions and supply-chain mergers are the norm, the strength of family-run businesses continues to surprise. Thanks to the solidity and drive brought by generational transition, Conceria Enterprise (based in Santa Croce sull’Arno) has successfully celebrated its first forty years of business. The company, founded in 1985...
Coin’s relaunch saves 1,390 jobs, while the merger between Saks Fifth Avenue and Neiman Marcus costs 550 people theirs. The 10 million euro paid by Invitalia to become a 30.1% shareholder in Coin was decisive in launching a 43 million revitalization maneuver. In the U.S., the integration of the operations of the two department stores, […]
A new vertical integration within the leather supply chain. Gruppo Vecchia Toscana (Fucecchio, Florence) has taken over the management of Manifattura Toscana Pellami (Ponte a Egola, San Miniato), a company specialising in the production of split hides and heavy-weight bovine leather for belts, leather goods, and furnishings. “We found this company very interesting for our...
Patience and discipline are the key words with which Prada plans to relaunch Versace. Group CEO Andrea Guerra used Miu Miu as an example, as “it took 36 to 48 months to reap the first fruits”. Based on 2024 financial figures, Versace accounts for 13% of the group’s revenue, projected to total 6.3 billion euro....
In the UK, three new CEOs have been appointed across major fashion companies. The brands affected are Victoria Beckham, online retailer Yoox Net-a-Porter (YNAP), and fashion chain Primark. These leadership changes have all taken place in the past few hours. Beckham appoints a new CEO Is Victoria Beckham aiming to strengthen her brand in leather...
“I want to have a peaceful business. I’m not interested in growing at all costs. I’d rather merge with someone to ensure the company’s continuity” says Daniele Mengoni (pictured), 64, owner of Calzaturificio Liverpool, based in Villanova del Ghebbo (Rovigo). The company employs 20 people, primarily thanks to exports to Israel. Liverpool Shoes Liverpool Shoes...
The failure to merge with Capri Holdings seemed like a major defeat. Instead, markets are rewarding Tapestry’s new course, albeit in mini-format, with a great injection of confidence. Then again, the issue is on the analysts’ table, and we address it in the April issue of our monthly magazine with Susanna Nicoletti. The systemic fashion...
The news is not whether it will be done (because it seems to be closed), but when. According to Il Sole 24 Ore, in fact, the Prada-Versace deal is very close. As Carlo Festa points out, the exclusivity granted by Capri Holdings to Prada will expire on April 10, and the latter will have to...
(Super) wealthy luxury customers are supporting demands for exotic leathers. Prices are rising both because of processing costs and players in this specific segment, which has three target markets. First: leather goods. Second: footwear. Third: watchmaking (for straps). A magic moment for crocodile, ostrich and, also, for the growing demands for customization. At Lineapelle 105...
Many, many, too many call for a fashion without crocodile, lizard or snakes. Because it’s unsustainable, they say. And sometimes, as it happened with the recent London Fashion Week ban, they receive from the system unexpected and undeserved assists. But the point is that many, even too many, have no idea of the exotic leather […]
New strategic transaction in the leather world. White Line, a tannery based in Ponte a Egola (San Miniato), acquired part of the capital of Reptilis (Santa Croce sull’Arno), buying out the shares of three exiting partners. Both companies specialize in exotic leathers and, this way, complement and complete their commercial offerings in this sector. The...
Tapestry sells Stuart Weitzman to Caleres for USD 105 million. Following the failed USD 8.5 billion deal between Tapestry and Capri Holdings, the two US companies are now looking at how they can proceed independently. Reports of indiscretions in early September 2024 had suggested that Tapestry was putting Stuart Weitzman up for sale, while Capri […]
The first coup of the day concerns Serge Brunschwig, who has just emerged from his 20-year stint at LVMH to become the new CEO of Jil Sander (OTB group). But this is not the only news, or rumour. Reports also mention Tamara Mellon, Roberta Benaglia and Marco Gobbetti. Rosso’s success There has been much talk...
After Kering, LVMH is leaving the Stella McCartney brand, too. The fashion designer, daughter of Beatles singer Paul, has bought back the minority stake held by LVMH in the brand she founded. The French giant had bought a 49 per cent stake in 2019. At the time, the French giant led by Bernard Arnault had […]
Marco Bizzarri, too, wants Versace. The former Gucci CEO, now in fashion in the guise of an investor, would also be on the list of those bidding to take over the brand leaving Capri Holdings. There are now 15 suitors, and at the beginning of February the circle will be tightened with concrete offers. In...
