Corporate/Finance: Page 7

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    Moncler Group revenue rises 8%

    Stone Island was down, but Moncler saw strong DTC sales and year-over-year revenue growth in every region.

    By • July 25, 2024
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    Jason Kempin via Getty Images
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    Estée Lauder controller lands CFO seat amid restructuring

    Akhil Shrivastava, a nine-year company veteran, understands “the levers the company can pull to revive growth,” Morningstar analyst Dan Su writes. 

    By Maura Webber Sadovi • July 25, 2024
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    Trendline

    Top 5 stories from Fashion Dive

    Fashion faced its share of shakeups in the first half of 2024, but few industries are more adept at reinvention or more suited to change.

    By Fashion Dive staff
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    Vittorio Zunino Celotto via Getty Images
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    Zegna Group growth led by DTC

    The company announced a 6% revenue uptick in H1 despite declines at Thom Browne.

    By • July 25, 2024
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    John Phillips via Getty Images
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    Kering operating income down 42%

    Declines at Gucci, Yves Saint Laurent and the company's other fashion houses weighed on its bottom line amid luxury sector normalization.

    By • July 25, 2024
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    Tullio M. Puglia via Getty Images
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    Sergio Rossi names new creative director

    The Lanvin-owned footwear brand has appointed Paul Andrew, formerly of Salvatore Ferragamo, to helm the line.

    By • July 24, 2024
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    Pablo Cuadra via Getty Images
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    LVMH net profit dropped 14% in H1

    Overall revenue was down 1% and fashion and leather goods revenue fell 2% as increased luxury spending in Japan failed to compensate for declines in China.

    By • July 24, 2024
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    Michael M. Santiago / Staff via Getty Images
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    Lawsuit accuses Patagonia’s customer support of violating privacy rights

    The class-action suit alleged Patagonia failed to disclose that it shares call recordings with third-party vendor Talkdesk for analysis.

    By Bryan Wassel • July 22, 2024
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    Mike Coppola via Getty Images
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    Tom Ford creative director exits

    Peter Hawkings was appointed to the position in April 2023 and has been with the brand since it began in 2006.

    By • July 22, 2024
  • A closeup of a store display. A grey and pink Skechers sneaker is seen next to a purple Skechers sneaker.
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    Brandon Bell via Getty Images
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    Skechers sues LL Bean for patent infringement

    Attorneys for the footwear giant accuse the retailer of illegally using its patented "heel cup" design.

    By • July 19, 2024
  • A red sign with the Supreme logo is pictured illuminated at night.
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    The image by cchana is licensed under CC BY-SA 2.0
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    VF sells Supreme for $1.5B

    Luxury eyewear company EssilorLuxottica agreed to buy the brand, and the deal is expected to close at the end of the year.

    By • July 17, 2024
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    Tristan Fewings via Getty Images
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    Kering names new president of Americas

    Ewa Abrams was promoted to the role and replaces Laurent Claquin, who was recently named group chief brand officer.

    By • July 17, 2024
  • A man in a suit strolls past a closed Ralph Lauren store in the evening.
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    Hollie Adams via Getty Images
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    Ralph Lauren hires Levi’s exec as new tech chief

    Christopher Conrad is taking over as chief digital and technology officer ahead of Janet Sherlock’s upcoming retirement.

    By Lindsey Wilkinson • July 17, 2024
  • A Cartier store with a visible logo is seen in an indoor mall.
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    Lauren DeCicca via Getty Images
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    Richemont Q1 sales down 19% in Asia Pacific

    The company posted a 1% overall sales decline as rebounds in the Americas and a strong uptick in Japan failed to compensate for weak comps out of China.

    By • July 16, 2024
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    Daphne Howland/Fashion Dive
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    Macy’s ends talks with Arkhouse and Brigade, foiling $6.9B takeover

    The firms raised their bid in June, but their financing, tied in part to Macy’s own real estate, was lacking, the department store said Monday.

    By Daphne Howland • July 16, 2024
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    Joe Maher via Getty Images
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    Burberry retail revenue plummets 22% in first quarter

    The results were posted on the same day the brand named a new CEO and comes against a backdrop of continuing luxury sector challenges.

    By • July 15, 2024
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    Joe Maher via Getty Images
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    Burberry names new CEO

    Joshua Schulman replaces Jonathan Akeroyd as the luxury fashion house faces challenging economic headwinds.

    By • July 15, 2024
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    Scott Olson / Staff via Getty Images
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    Casual dress codes, informal etiquette may help recruiting and retention, survey indicates

    Employers may want to be more lenient with attire, cellphones and communication, but such shifts also may confuse employees if expectations aren't clear.

    By Carolyn Crist • July 15, 2024
  • A tan boat shoe is silhouetted against a white background.
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    Courtesy of American Exchange Group
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    American Exchange Group acquires Island Surf Company

    The brand will continue to be led by Joe O’Brien and is set to become part of White Mountain Footwear.

    By • July 11, 2024
  • A dark runway is pictured, with no models on it. The words Shein X are displayed and the backdrop is blue, resembling water.
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    Kristy Sparow via Getty Images
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    Shein invests $270M to create Circularity Fund in EU, UK

    The fast fashion giant said the money will support startups as well as more mature businesses working in the textile-to-textile recycling space.

    By • July 11, 2024
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    Peter Kramer via Getty Images
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    Bloomingdale’s names new men’s fashion director

    David Thielebeule, founding editor-in-chief of Grazia USA, takes on the role effective immediately.

    By • July 10, 2024
  • A person is holding a phone displaying the Temu app, where a red dress is sold.
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    Screenshot: Temu

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    Temu holding company hit with class action lawsuit

    Whaleco allegedly sent Temu marketing texts to numbers listed on the national do-not-call registry, according to the complaint.

    By • Updated July 10, 2024
  • People walk around in front of Saks Fifth Avenue and Hudson's Bay department stores.
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    "Hudson's Bay" by Jeff Hitchcock is licensed under CC BY 2.0
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    Saks COO is out

    Following HBC’s deal to take over Neiman Marcus and form “Saks Global,” RJ Cilley left to become chief executive at HVAC startup Voomi Supply.

    By Daphne Howland • July 10, 2024
  • A model in a furry coat walks down a runway flanked by two large, stylized cartoon monsters.
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    Gareth Cattermole via Getty Images
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    Mulberry appoints new CEO

    Andrea Baldo, formerly of Ganni, joins the luxury fashion brand in September and replaces Thierry Andretta, who is exiting the company immediately.

    By • July 9, 2024
  • A label hangs from a pair of pants. The label reads "Express."
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    Brandon Bell via Getty Images
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    Express bankruptcy spurs layoffs at Ohio facility

    The company's logistics and shipping partner Bath & Body Works is shrinking its distribution operations for the apparel retailer due to declines in volume.

    By Philip Neuffer • July 9, 2024
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    Vittorio Zunino Celotto via Getty Images
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    Max Mara and Shiseido sign long-term fragrance deal

    The partnership will grant the Japan-based beauty giant an exclusive worldwide license to develop, produce, market and distribute scents for the luxury fashion house.

    By • July 8, 2024