Eva Morletto

The Armani Group has been funding new local production methods for several years. On June 5, the brand announced its support for regenerative cotton cultivation in the Apulia region of southern Italy for more sustainable fashion. Leading organizations in the sector will jointly support the Apulia Regenerative Cotton Project initiative.

LVMH has acquired a majority stake in the Italian tannery Nuti Ivo, strengthening its position in artisanal production chains. While this move offers opportunities to local artisans, it may threaten smaller brands by monopolizing the supply chains.

Bugatti is partnering with Binghatti, a real estate developer in the United Arab Emirates, to develop luxury residences in Dubai.

Dolce & Gabbana is broadening its empire by purchasing the Excelsior in Portofino and opening a resort in the Maldives, expanding its restaurant and hotel portfolio. These projects are part of the company’s diversification strategy, which has seen an increase in revenues despite past financial challenges.

Moncler reports sales of 726.4 million euros, a 23% increase in revenue for the first quarter, driven by the recovery of the Chinese market and solid performance in the EMEA regions. Meanwhile, the group announces the appointment of Robert Triefus as head of Stone Island.

Chloé has partnered with the newly founded sustainable fashion brand Atelier Jolie, led by Angelina Jolie, focusing on craftsmanship and recycled materials. The profits from this collaboration will be allocated to supporting the training of artisans from disadvantaged backgrounds.

Luxury giants have experienced a severe drop in the stock market since Tuesday, May 23, and throughout the following week. Could it be a sign of weakening market confidence in the luxury sector? The European financial market is closely tied to these companies and their stocks.

Sephora stopped its operations in Taiwan on May 11, refocusing on more stable Asian markets. With a global network of 3,000 stores, the chain is readjusting its positioning and generating an estimated 10 billion euros in sales.

Richemont posted a very positive result for the 2022/2023 financial year ending 31 March 2023, with total sales of 19.95 billion euros and a net profit of 301 million euros. 301 million. This performance is up 19% on the previous year.

Estée Lauder Companies Inc. has reported a -12% decrease in revenue for Q3 2023, due to stagnant product sales in Asia. Nevertheless, the company announced a net profit of $156 million and is focusing on innovation and sustainability.

As China emerges from the pandemic crisis, luxury and commerce players are actively seeking new paths for economic development with the country’s authorities.

The king of Italian cashmere, Brunello Cucinelli Spa, has just announced the signing of an agreement with the Cariaggi family and the Chanel company regarding the sale of 18.5% of its shares in Cariaggi Lanificio Spa, the company famous for its prestigious woolen garment manufacturing workshops.

Accor announces a significant expansion in Saudi Arabia, with three hotel projects as part of the national Saudi Vision 2030 plan. The number of Accor-managed establishments in the country is expected to double within five years.

Bottega Veneta delves into upcycling with the « Reserve Leather Series » project, an innovative collection created from unused raw materials.

Fashion designer Tom Ford is leaving the fashion world to focus on movies and his production company, leading to management changes at Tom Ford Fashion. Estée Lauder bought the brand for $2.25 billion in 2021 and the cosmetics division grew by 25%.