French premium fashion group SMCP continues to outperform the market and on Wednesday, its Q4 and full-year sales figures showed just how strong it is, even though it has had to deal with some major headwinds.
Eyebrows were raised when Pitti first announced that K-Way, French sportswear label, was given a prestigious Pitti runway slot. But the naysayers proved wrong, as the marque staged a zippy collection in Florence.
Another big name has just announced that its banning the use of fur in its products with the Karl Lagerfeld brand singing up to be fur-free. AM Retail Group, which operate’s Lagerfeld’s stores, will also stop using fur.
The De Fursac menswear brand newly owned by SMCP has opened its first retail space in London with a debut at Selfridges. The space is a pop-up and will stay open through the festive period and into February next year.
Aquascutum’s Chinese owner is the subject of a potential lawsuit over unpaid invoices, as fears over a liquidity crisis persist. A Portuguese fabrics firm called Calvelex is expected to take it to court this week.
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.