Paris's famed Galeries Lafayette department store, which receives some 37 million visitors every year, will reopen this weekend after being shuttered for nearly three months by the coronavirus pandemic, it said Friday.
Few fashion designers have had as much impact in the past three decades as Domenico Dolce and Stefano Gabbana. With FashionNetwork.com the duo discuss DGfattoincasa; handling the lockdown and their next runway steps
Bernard Arnault, Europe’s richest man, has acquired a one-quarter stake in Arnaud Lagardère’s holding company, in a move that will be seen as an attempt to support the family of his fellow French billionaire.
Gucci’s creative director Alessandro Michele has announced, via Instagram, that the Italian brand will abandon the official runway season, and will instead stage only two shows per year in for the foreseeable future.
Burberry was hit hard by the Covid-19 crisis at the end of its last financial year and the impact is continuing in the new year. But it's seeing resurgent demand in key Asian markets and its strategy remains on track.
Farfetch saw its revenue almost doubling in the first quarter as lockdowns meant online was the only option for luxury fashion shoppers. The firm remains loss-making but says it's still on target for profits next year.
Richemont mixed good news with bad on Friday as it delivered its full-year results, with the giant luxury group reporting resurgent demand in China on the reopening of its stores, but also a profits plunge.
A group of fashion CEOs, retailers and designers, including luminaries like Dries Van Noten, Tory Burch and Craig Green, have called for a major rethink in fashion deliveries and greater sustainability in an open letter.
As France began to exit its strict coronavirus lockdown, many of its luxury brands also opened their doors, giving sanitary protocols a makeover and testing people's appetite for splurging after the global shutdown.
Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company's business during Chapter 11 bankruptcy proceedings.
Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic.
Global sales of luxury goods are expected to slump by 50% to 60% in the second quarter despite lockdowns easing in some countries and signs of recovery in the Chinese market, consultancy Bain said on Thursday.
Chinese e-commerce giant Alibaba has launched a new luxury platform targeting younger consumers that also aims to help high-end brands shed excess inventory built up during the global coronavirus lockdown.