Luxury Goods
The latest news, updates and analysis on the luxury goods segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Jun- 2021 -3 June
Grosvenor takes minority stake in Roland Mouret
Property Group Grosvenor Britain and Ireland has revealed that it has taken a minority stake in Roland Mouret, the luxury womenswear designer. The deal represents Grosvenor’s debut equity investment in one of its occupier groups, further expanding the partnership between the two groups that commenced with the opening of Roland…
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2 June
Moncler appoints new chief brand officer
Moncler has announced that Gino Fisanotti has been appointed to the newly created position of chief brand officer, with effect from 7 June 2021. Fisanotti will report directly to Remo Ruffini, chairman and CEO of the group, and will also join the strategic committee as strategic director while Roberto Eggs…
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May- 2021 -24 May
Capri announces boardroom changes
Capri Holdings, a global luxury fashion group, has announced that M William Benedetto is set to retire from his role as lead director at the group on 28 July 2021. Benedetto has worked at the owner of Michael Kors, Jimmy Choo, and Versace since 2011, serving on the audit committee,…
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21 May
Watches of Switzerland anticipates profits of £104m
Watches of Switzerland has expected its FY21 pre-tax profits to range between £104m and £107m following a “very robust performance” throughout the year. Group revenue rose 13% to £905.1m from £810.5m, with UK revenue increasing 3.6% despite stores being closed for 26 weeks of the year and “significantly reduced tourism”.…
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19 May
BMG completes Duchamp acquisition
Brand Machine Group (BMG), a global licensing firm, has announced the acquisition of luxury UK men’s clothing and accessories company Duchamp for an undisclosed fee. The deal represents a continuation of BMG’s acquisition spree, having bought the American outdoor brand Penfield in January 2021. In turn, Duchamp will operate as…
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17 May
Ralph Lauren offloads Club Monaco brand to private equity group
Ralph Lauren Corporation has announced the sale of its Club Monaco brand to Regent, a global private equity firm, for an undisclosed fee. Expected to close by the end of June 2021, the transaction represents a continuation of the group’s fiscal 2021 strategic realignment plan. Revealed last year, the plan…
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7 May
Body Shop owner fundraises over £700m in sustainability-linked bonds
Natura and Co, the parent company of The Body Shop, Avon, and Aesop, has announced the completion of an international fundraising effort of $1bn (£718m) in bonds attributed to sustainability goals. According to the group, the funds will be put towards refinancing existing debt, as part of the group’s liability…
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Apr- 2021 -22 April
Kering’s Q1 revenues return to pre-pandemic levels
Luxury fashion group Kering has revealed that its revenues for the first quarter of the year have returned to pre-pandemic levels as consolidated revenues spiked 25.8% year-on-year. Kering claimed that the growth was driven by an uptick in sales of 83% in Asia-Pacific and 46% in North America. Moreover, online…
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21 April
Mulberry launches sustainability manifesto
Luxury fashion house Mulberry has launched a new sustainability manifesto, which outlines the company’s “ambitious commitments” to transform the business to a “regenerative and circular model”, encompassing the entire supply chain by 2030. The launch of the “Mulberry Made to Last” manifesto marks the group’s 50 anniversary year as a…
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14 April
LVMH Q1 revenues soar 32% to £12.1bn
Moët Hennessy Louis Vuitton (LVMH) has revealed its total revenues for the first quarter of FY 2021 rose 32% year-on-year to £12.1bn. The group posted a return to growth across the majority of its departments, including a 138% year-on-year watches and jewellery revenue increase. LVMH’s wines and spirits business group…
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