According to a survey by BCG/Bernstein, the pandemic could wipe out up to nearly a third of the luxury market's value, estimated at €350 billion in 2019, with heavy repercussions on luxury groups’ EBITDA and cash flow.
Jean Paul Gaultier has appointed a new General Manager, Antoine Gagey, co-founder of womenswear label Coralie Marabelle. He succeeds Sophie Waintraub, as the Parisian label is keen to continue with haute couture.
Coty and Kylie Jenner have announced the completion of the transaction cementing their long-term strategic partnership and revealed the appointment of Christoph Honnefelder as CEO of Kylie Cosmetics and Kylie Skin.
The London-based luxury resale service has teamed up with former Made in Chelsea star Millie Mackintosh to sell an exclusive fashion edit and raise funds for Maggie’s, a charity supporting people who live with cancer.
The CEO of the American fashion group, who stepped into his role in early 2015, will be succeeded by chairman of the board, Robert J. Fisher, heir of the company's founding family, who takes over as interim CEO.
After specialising in luxury, the pre-owned fashion e-tailer is re-focusing on affordable luxury brands, while adapting its purchasing options and commissions to the mid-market segment, and eyeing global expansion.
SMCP has named Elina Kousourna as the new CEO of its recently acquired menswear brand De Fursac and promoted Flavien d'Audiffret to the executive's former role as the group's strategy, digital and development director.
According to a study from Vestiaire Collective and Boston Consulting Group, luxury brands should be embracing the second-hand fashion boom, not least because it moulds the loyalties of future primary-market consumers.