Gucci and Intesa Sanpaolo are taking a green path. How? By extending the “Chain Development” program to social and environmental sustainability. Partner suppliers of Gucci will be able to access specific credit lines with an S-loan formula, based on their ESG indicators. A unique initiative in Italy, to which is added to the already existing […]
A millionaire reward, as it should be for those who take on the burden of leading a group like Salvatore Ferragamo. An annual pay that could lead Marco Gobbetti to receive the same salary that Gucci pays to its CEO, Marco Bizzarri. That is to say about 8 million euros, between salary and bonus. 2020 […]
Jonathan Akeroyd from Versace. Emmanuel Gintzburger from Alexander McQueen. Or Tiffany’s ex-leader, Alessandro Bogliolo. These are allegedly the hottest names for Burberry’s CEO position. Gobbetti’s departure caused an earthquake for the British fashion brand, Beside from being short on time after the ex-CEO moved to Ferragamo, Burberry also has to face the analysts’ evaluations. Gobbetti...
At the end of the year, Marco Gobbetti will step down as CEO of Burberry to move to Salvatore Ferragamo, taking over from Micaela Le Divelec Lemmi. In other words, he will take on the role of general manager and CEO of the Italian brand. Gobbetti will hold office at Burberry until the end of […]
Young people and sustainability. They are the keys to the future of fashion and luxury brands. Marco Gobbetti, Burberry’s CEO, Virgil Abloh, Louis Vuitton’s menswear creative director, and Marco Bizzarri, Gucci’s CEO, believe this. Young people and sustainability Marco Gobbetti (in the photo on the left, from Burberry). “Sustainability is at the top of young […]
Finance and sustainability. Furla joins the group of companies that tied loans to sustainability objectives. The leather goods’ brand was provided 25 million euro by Unicredit to accelerate its sustainability strategy. “This operation (which has a 3-year duration), further strengthens the financial structure of the group – commented Mauro Sabatini, CEO of Furla -, mitigating […]
Because it would be the right time for the merger between Richemont and Kering. And what could be the main obstacle. The mergers and acquisitions sector is in turmoil: a real mergermania. There are many deals at stake, but the market is waiting for Kering’s response to LVMH‘s purchase of Tiffany. It would be the...
Burberry made its preliminary earnings for the fiscal year available, after it closed on March 27th, 2021. Result: a 10% decrease in sales and a revenue of 2.34 billion pounds. The (main) causes behind the decrease were the closed stores and the reduced tourists’ flux. The consequence was a loss on the price-per-share, also given […]
LVMH will still make acquisitions. And, if the general manager Toni Belloni says so, it is to be believed. The French luxury group continues to look to Italy, thanks to its consolidated experience with brands and companies from Bel Paese. But it will not buy AC Milan, as has been insistently said for over a […]
China is a challenge within a challenge, as far as luxury brands go. It’s not news that, also due to Covid-19, China has become even more relevant on the scale of revenues and profits for many brands. And so Tmall Luxury, Alibaba’s platform that offers the products of about 200 luxury brands, decided to put...
Shopping, how much I missed you! In the United Kingdom, where fashion stores were able to reopen last Monday (March 12, 2021), many citizens took to the streets after a long lockdown. There were queues outside some prestigious shops, including the new Hermès store inside Harrods. Meanwhile, Kurt Geiger and Anya Hindmarch take the opportunity […]
The fashion segment in China is in turmoil. Beijing’s authorities have fined Alibaba 2.8 billion USD. The government is continuing to reduce the size of the e-commerce giant after the disagreements that took place between the Communist Party and latter in the past few months. Meanwhile, a group of NGOs have accused international brands of […]
Nike and Arnault are confirmed; footwear ones come as a surprise. Analyzing the “Apparel 50 – 2021” di Brand Finance, the annual ranking that lists the most valuable brands, it can be seen that Nike has maintained, for the 7th year in a row, the highest evaluation over the globe. Footwear is the only category […]
Political crises. Image’s problems. Ideological positions. China was already among the most important customers for luxury companies before the pandemic. Now, after over a year of Covid, they are the absolute first. High fashion is closely linked with China. But it must be careful. Because the recent “diplomatic incidents” involving Burberry and H&M remind us […]
“You will no longer import cotton from Xinjiang and we will boycott your products”. This is the strategy that is being adopted in China. The economic backlash has already arrived for Nike and, most recently, H&M. Now it hits Burberry, the first luxury brand, which has declared that it is cutting off relations with companies […]
2021 started with a sprint for Burberry. Retail sales took off thanks to China and South Korea. This performance allows the British brand, which will close its fiscal year on March 27th, to go beyond the forecasts. After Ferragamo and Prada, Burberry also is also feeling the push from Asia. A sprint start Burberry communicated […]
Burberry waives government tax relief of approximately 6 million pound. The measure was available to companies that “operate in retail”, to reimburse them for the closing periods imposed by the pandemic. “We believe this is the right thing to do,” said the British brand. In addition, Burberry repaid a 300 million pounds loan a month […]
Louis Vuitton and Dior take off, but leather goods do even better and, together, they sound LVMH’s charge during the 4th quarter of 2020. The numbers are clear: revenue for the Fashion & Leathergoods division increased by 18% (at constant rates) during the 4th quarter of 2020, compared to the same period of the previous […]
2021 started with indiscretions and rumors that make one thing very clear. The year will be, just as 2020 and 2019 were, a year full of mergers and acquisitions. Private equity funds and big players of the fashion industry will shop for smaller businesses struggling due to the pandemic. The leading roles, as far as...
After all, Burberry considers itself satisfied by the results from the October-December quarter (until the 26th). After all, Covid-19 still makes its presence known on operations, to the point that the British group remains cautious on the forecasts. Moreover, unknowns tied to Brexit must be added to the pandemic, as well as the suspension of […]
