Gucci

Frasers Group eyes Matches relaunch as exclusive members’ club

Frasers Group is reportedly looking to relaunch Matches Fashion as an exclusive members’ club, according to The Times.  Having brought the luxury fashion platform back in a pre-pack deal last April for £19m, Frasers is understood to have collated proposals that could see Matches be turned into “the Soho House…

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Today’s news in brief-25/4/25

The John Lewis Partnership has appointed Andy Mounsey as its new chief financial officer, effective immediately. Mounsey, who had been serving as interim CFO since last autumn, brings 13 years of experience within the business, including roles as Group Finance and Strategy director. A chartered accountant with prior experience at…

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Kering revenues plummet to €3.9bn amid Gucci sales decline

Luxury retail group Kering has reported a 14% drop in revenues to €3.9bn (£3.31bn) in Q1 2025 as its flagship brand Gucci saw sales decline by 24% to €1.6bn (£1.37bn). Gucci’s revenues from its directly operated retail network declined by 25% amid low store traffic, while wholesale revenue fell by…

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Today’s news in brief-12/2/25

Kering, the luxury conglomerate behind Gucci, Yves Saint Laurent, and Bottega Veneta, reported a challenging fiscal 2024, with revenue falling 12% to €17.2 billion (£14.3 billion) and EBITDA plummeting 29% to €4.6 billion (£3.8 billion). Gucci’s 23% sales decline to €7.65 billion (£6.37 billion) significantly impacted the group, alongside a…

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Gucci sales slump drags down Kering FY performance

Kering, which owns brands such Gucci, Yves Saint Laurent and Bottega Veneta, has reported a 29% drop in EBITDA to €4.6bn (£3.8bn) and a 12% decrease in revenues to €17.2bn (£14.3bn) in the year to 31 December 2024. Recurring operating income totalled €2.6bn (£2.17bn) in 2024, down 46% from the…

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Today’s news in brief-20/11/24

Ted Baker has re-entered the online retail scene with a UK-exclusive ecommerce platform following its financial collapse earlier this year. The site is operated by United Apparel and Legwear (ULAC), appointed by Authentic Brands Group, which owns the brand. European versions are in development. This marks a strategic pivot after…

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Mytheresa Q1 losses rise 122% to £25m despite improved sales

Mytheresa’s operating loss increased by 122% to €30m (£25m) despite an increase in sales during the first quarter of FY25. Despite the loss in profits, net sales for the German luxury retailer increased 7.6% to €201.7m (£168.1m).  The company was said to have had a “strong” financial performance during the…

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A look at Mulberry’s financial struggles and future prospects

Once a darling of the British fashion scene in the 2000s, Mulberry was a go-to accessory for trendsetters like Alexa Chung with its signature leather handbags, such as the Bayswater. However, the group is now grappling with a financial crisis, reporting a pre-tax loss of £34.1m for the year ending…

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Today’s news in brief-9/10/24

Shein’s UK arm reported robust financial results for 2023, with revenues climbing 38% to £1.55bn and pre-tax profits doubling to £24.4m. These figures surpass rival Boohoo’s latest annual revenues. The company also announced plans for an IPO in London, pending regulatory approval, to capitalise on its growth momentum and expand…

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Gucci appoints new CEO

Kering has announced that Stefano Cantino has been appointed as the new CEO of Gucci, replacing Jean-François Palus, from 1 January 2025. He will report to Francesca Bellettini, deputy CEO of Kering in charge of brand development and will have a seat on Kering’s executive committee. Cantino joined Gucci in…

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