British fashion house Burberry will now be led by two Italians after it appointed Riccardo Tisci as its new chief creative officer. Tisci will replace longtime creative chief and former chief executive Christopher Bailey, who presented his final collection at the recent London Fashion Week. Tisci will begin his tenure at the coveted role from March 12 and will be based at the luxury retailer’s London headquarters
Chanel is the latest luxury fashion house to have stuck a partnership deal with Farfetch, just a week after a deal was inked with Burberry. According to Business of Fashion , the tie-up will see Chanel investing in Farfetch and using the London-based online retailer’s fledgling Augmented Retail programme to deploy its “operating system” for physical retail to enhance its boutique experience. The French luxury house said that the deal does not mean they will start selling ready-to-wear and handbags online
Burberry has announced that Orna NiChionna has been appointed to the board as a new non-executive director. She will also become a member of the remuneration and nomination committees
British tailoring brand Thom Sweeney has crossed the pond to open its first store outside the UK, setting up a shop in New York’s SoHo neighbourhood. The shop offers the upmarket menswear brand’s ready-to-wear styles, and also include its bespoke and made-to-measure business. READ MORE: 5 Minutes With Carolyn Springett, CEO, New & Lingwood Thom Sweeney currently trades from two locations in Mayfair, London, as well as through its own ecommerce platform and an online concession with Mr Porter
Ted Baker has posted a rise in sales and profits in its half-year report against a background of “challenging” trading conditions. The upmarket retailer recorded a 14 per cent rise in revenue to £295.7 million and a 17.8 per cent increase in pre-tax profit to £25.3 million in the six months to August 12. Bricks-and-mortar retail sales climbed 9.2 per cent on a constant currency basis to £217.7 million, while online sales jumped 40.7 per cent to £42.7 million.
The Spanish luxury fashion house is betting a pair of $795 dirty dad sneakers will be a runaway hit.
Jimmy Choo enjoyed a sharp rise in profits and sales in its first half, with pre-tax profits alone almost tripling year-on-year and surpassing the full-year profit recorded in 2016. The results have prompted the British retailer to fee confident about the remainder of the year, especially after Michael Kors acquired the business in July for £896 million. The luxury brand’s adjusted EBITDA increased 19.5 per cent to £37.4 million for the six months to June 30, while adjusted EBIT grew 24.5 per cent to £26.9 million.
Tighter controls on discounting and reducing its department store inventory has allowed Ralph Lauren to record better-than-expected quarterly results under new chief executive Patrice Louvet. Shares at the luxury fashion retailer rose by as much as 11 per cent to $87 (£67) today, which allowed the company to claw back a large chunk of its losses for the year.
The parent company of retailers Gucci, Yves Saint Laurant and Puma has partnered with Chinese ecommerce platform Alibaba to combat the sale of fake goods on the latter. As part of the deal, luxury fashion house Kering will dismiss its lawsuit against Alibaba and affiliate Alipay, which was filed in the US district court in New York in 2015
Prestigious Australian fashion label Zimmermann has chosen London’s Mayfair to open its first European store.