Struggling brands (desperately) looking for a way to turn things around. There are those who have completed the sale (Off-White and Bally) and those who may seal it soon (Mulberry). But there is also one retail brand that is working and appealing to investors: Kurt Geiger. LVMH is not buying this time For once LVMH...
The Michael Kors brand has become a player (or perhaps a victim) in court, as part of the legal battle between Tapestry and the FTC. The Federal Trade Commission wants to prevent a merger between Tapestry and Capri Holdings. As part of the proceedings, the judge showed some images that Tapestry executive Elizabeth Harris sent...
Affordable luxury is at the center of the dispute between Tapestry+Capri Holdings and the FTC – Federal Trade Commission. The litigation, in fact, hinges on both sides’ submission to the U.S. District Court in Manhattan of the definition of accessible luxury. For insiders, FTC’s is a political battle to defend the middle class. What the...
Stuart Weitzman is reportedly for sale. CEO Giorgio Sarnè has reportedly left the company already and may be joining Montblanc. All this while Tapestry, the shoe brand’s parent company, will defend its USD 8.5 billion acquisition of Capri Holdings against FTC (Federal Trade Commission); opposition that started on 9 September. Is Stuart Weitzman for sale? […]
China is suffocating the luxury segment, with stocks seeing no light at the end of the tunnel. On Thursday, September 5, shares of some of the major European luxury goods players fell sharply. For example, Hermès, which lost 6%. The day before, Morgan Stanley revised (down) its forecast for LVMH stock, which lost more than...
Private equity funds are on the move despite the crisis. Or, perhaps, precisely because there is a crisis. Not even in August, therefore, does the drive to integrate the production chain come to a halt. Equita buys two Tuscan shoe factories: Everyn and Maruska. Gradiente acquires Hawai Italia, a Veronese company active in the creation...
Retail revolution in the US. HBC – Hudson’s Bay Company, owner of Saks Fifth Avenue, has acquired Neiman Marcus Group (with a contribution from Amazon). From the operation, Saks Global will be created, but it does not end there, because Arkhouse and Brigade Capital have increased their bid to annex Macy’s. Changes are around the...
Nike is now a sick giant. The US giant expects a 10% drop in revenues in the first quarter of the 2024-2025 fiscal year (June-August) because competition is fierce. Not only from Adidas, but also from emerging brands such as Hoka and On. And markets are weak, including China. The company has also lowered its […]
Through Métiers d’Art, the LVMH group invests in the industrial supply chain, sure. But it is not easy, from the perspective of SMEs and artisans, to measure up with a merger operation: the French holding company has tight, or rather very tight, meshes. CEO Matteo De Rosa explained it on the sidelines of the presentation […]
A call for “coopetition” in the leather supply chain, the merger of cooperation and competition consists in the message launched on June 13th, from Montelupo Fiorentino (Florence) during round table “Sustainability Last Call. The leather supply chain responds.” The initiative was organized by tanning chemicals company FGL International (Castelfranco di Sotto), which is part of...
Tapestry’s current affairs are divided into two fronts. The first concerns are quarterly sales, as they fell flat. The second is inherent in the clash with FTC (Federal Trade Commission), the agency opposing the $8.5 billion acquisition of Capri Holdings. Opposition that Tapestry itself calls “meaningless.” Tapestry’s two fronts In the third fiscal quarter ending...
It is a turbulent time for so many retail brands. The effects of a non-dynamic market are beginning to be felt, both online and offline. Within this crisis situation, mergers and acquisitions may take place, but above all, balance sheets are the final proof: when doing well, they are barely balanced. Here’s the bottom line....
Prada has budgets for new acquisitions, also and above all for the supply chains because it has a programme to strengthen its production capacity from year to year. “We think that being able to give generational stability to many medium and small companies is our entrepreneurial role and also a minimum of responsibility”, said CEO […]
What is accessible luxury? Why is it growing? What does a brand need to do to thrive in this market segment? The category over the past decade has exploded and transformed, to meet a new need. Today it represents the highest number of customers in its history as luxury brands have practiced continuous price increases....
Lights are shining on the present and the near future of Gucci and Kering. After the -21% plunge of the fashion house in the first quarter of 2024 and the drastic drop (-11%) of the French multinational (here you can find all the financial details of the financial statement published on Wednesday, 23 April 2024),...
Would a merger between tapestry and Capri Holdings damage consumers? Not really, considering that in the market there are giants such as LVMH and Kering, but the FTC (Federal Trade Commission) says it would. US Antitrust authority made an unusual decision for the fashion industry and is attempting to block the 8.5 billion USD merger....
Giorgio Armani, for the first time ever, opens up to the possibility of selling. The future of the group that bears his name may not be independent, even though he had always claimed so. “At the moment I do not foresee an acquisition by a large luxury conglomerate. But I don’t want to exclude any […]
Will the USD 8.5 billion mega deal between Tapestry and Capri Holdings fall through? The antitrust authorities of the European Union and Japan have approved it. But in the US, the Federal Trade Commission (FTC) is considering whether to file a lawsuit to stop the deal. The M&A between Tapestry and Capri Holdings The FTC...
And yet, they had loved each other so much François-Henri Pinault, the boss of Kering, and Marco Bizzarri, the former CEO of Gucci, who worked for 18 years for the same luxury group. Bizzarri could have still worked for Kering (he had just renewed his contract), but in September 2023 he left the post by...
The luxury segment is on the hunt for footwear manufacturers. OTB acquired a majority stake in in Calzaturificio Stephen, headquartered in Pianezze (Vicenza). The shoe manufacturer has been a collaborator of the group led by Renzo Rosso since the early 2000s. Brother and sisters Stefano, Antonella, and Valeria Bertollo, will remain in the leadership. Stefano […]
