Longchamp, one of France's leading handbag makers, is increasing its presence in China and the United States to boost its sales, its CEO said, betting on celebrity tie-ins and its online platforms to revive growth.
Dutch hand-knitted accessories label and social enterprise Granny’s Finest, which went bankrupt in June of this year, has announced its plans to relaunch. Its online store will reopen on 1 October 2018.
Farfetch priced its shares above its targeted range on Friday in a New York flotation that values the online luxury retailer at over $5.8 billion and underscores how big a bet web sales have become for high-end brands.
German start-up investor Rocket Internet is preparing its African online shopping platform Jumia for a possible New York listing in the first quarter of 2019, which could value the firm at about $1 billion.
Farfetch is rarely out of the news these days and on Thursday, as well as its link with The Modist for modest fashion, the company said that its buying and merchandising director Candice Fragis has left the company.
Nestle put its skin health unit up for sale on Thursday, as the maker of Nescafe and Perrier water ditches underperforming businesses and fends off criticism from an activist investor demanding an overhaul.
Anthony Vaccarello, known for his rock-chic, asymmetrical looks, has renewed his contract with Saint Laurent for another three years, industry sources with first-hand knowledge of the matter told FashionNetwork.com.
Sportswear maker Under Armour Inc will cut about 400 jobs, or 3 percent of its global workforce, as part of efforts to cut costs in its struggle to compete with Nike and Germany’s Adidas in North America.
Rocket Internet responded to investor calls to use some of its 2.1 billion euro cash pile on Thursday with a plan to buy back shares worth up to 150 million euros, 3.6 percent of its outstanding stock.