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.
After being forced to halt production for weeks, the luxury industry's supply chain is slowly restarting in Italy and France. The system has been battered by the Covid-19 pandemic, with many sub-contractors struggling.
The LVMH Prize for Young Fashion Designers has called off the final of this year’s event, and instead plans to direct its prize money into a fund for young designers, the latest cancellation due to the Covid-19 pandemic.
At a moment of compulsory cocooning due to the curse of Covid-19, Maria Grazia Chiuri, creative director of Christian Dior, has been doing things very much in the Italian way. She hunkered down with la famiglia in Rome.
As the Covid-19 pandemic continues to impact business, consumer spending and events within the fashion industry, LVMH has moved its annual shareholders' meeting, originally scheduled for April 16, to the end of June.
Faced with the increased containment measures implemented against the coronavirus, Gucci has announced the closure of its factories for eight days. LVMH is keeping its sites open, albeit with specific restrictions.
Rihanna, Stella McCartney and Virgil Abloh have joined the jury of the LVMH Prize, which today revealed the names of the eight finalists of the 2020 edition.The trio increases the jury to a classical number of a dozen.