The trading environment may have been volatile but luxury giant Richemont still managed to see net profit rising almost 40% in the financial year to the end of March, beating forecasts by a wide margin.
The drive to embrace all-things sustainable continues to accelerate. Online luxury and fashion retailer Yoox Net-a-Porter has upped its commitment to the cause, joining The Prince of Wales’ Terra Carta initiative.
The move to using plant-based Materials in place of leather by high-end labels is accelerating and the latest to join an expanding group of brands doing so is Mr P. That’s the in-house brand of the Mr Porter e-store.
Net-A-Porter has officially launched in the Middle East with a localised platform for the region in Arabic and English. It’s also available as a website and a mobile app. It's been fully customised to meet local needs.
YNAP’s luxe outlet The Outnet has launched an exclusive capsule with Proenza Schouler. It said the company has worked with the 19-year-old label for many years and the brand is a popular one among its customers.