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 […]
Away from Vigevano. Fiscatech has started procedures to transfer from the Lombard city to Cormons (Gorizia) all 60 employees of the plant in Via Oroboni. Fiscatech was created from the merger of Fiscagomma and Sogetec, and is controlled by the Pellan Italia group, chaired by Carlotta Pignatti Costamagna, granddaughter of Fiscatech founder Achille Costamagna. The […]
The leather goods crisis (perhaps) is not the same for everyone. In France, the Manufacture du Cœur des Vosges (MCV), which belongs to Groupe SIS, has announced the construction of a new 8,000-9,000 square metre leather goods factory near Épinal. Over the next three years, the factory will house 350 people. SIS is a group […]
A coming shock may hit the fashion system, in terms of product and holdings. On one end Style Capital wants to make Autry into the new Golden Goose. Now that it has acquired the majority of the brand, it will push an expansion plan for the retail channel in Italy and abroad. On another front,...
Miroglio buys Trussardi: the court in Milan approved the buyout from the Piemonte company, effectively confirming the latest rumors. But there is another operation worth mentioning. Even with the crisis of the leather goods segment, Kuoyo isn’t slowing down and widens its production capacity by acquiring Tifariti in Rufina (Florence). Miroglio buys Trussardi It’s not...
Autry changes hands, Jacquemus doesn’t. In other words: it will not end up under the control of LVMH. Moreover, its founder, Simon Porte Jacquemus, will not become creative director of Givenchy nor of other brands. Sneakers’ brand Autry was discussed by Roberta Benaglia of Style Capital, who explained that Autry will become part of the...
The Della Valle family wants to delist the group and has asked the Arnault family for help in making Tod’s private. L Catterton, an investment fund effectively utilized by LVMH and owned by the Arnault family, plants on paying nearly 512 million euro to buy 11.9 million shares of Tod’s for 43 euro per share. […]
L Catterton’s takeover bid on Tod’s is causing discussion. First of all, analysts and pundits are questioning whether the deal’s price (EUR 43) is the right one. At the same time, they speculate on the scenarios. On the one hand, should the takeover bid fail, they argue, the delisting of Tod’s is certain, and the...
Bad news for Farfetch, as problems aren’t over. It’s worse. Kering and US retail group Neiman Marcus have stopped doing business with the e-tailer. Moreover, some creditors (some with over 400 million USD), is demanding the company is sold off to regain some of the losses. They also accuse founder Josè Neves “to have undertaken […]
Zegna‘s iconic leisure trainer gets a makeover thanks to an innovation by the artisans of the historic group. Whom, for the Triple Stitch Secondskin have chosen glove leather. Only 0.8 mm thick, Secondskin is light, soft to the touch and perfect for the upper and lining. The result is a shoe that combines an innovative...
Bloomberg’s provocation is pretentious precisely because it is counterintuitive. Now that size matters and LVMH is celebrating its own cyclopean measures, the financial paper suggests that the French holding company would gain more value if it unbundled its divisions. And that the fragmentation of the luxury empire would make it easier to succeed Bernard Arnault....
