MILAN, ITALY - One of Victoria’s Secret’s key executives is stepping down as the retailer deals with a battering year. April Holt, who is the executive vice president of stores, is leaving the L Brands-owned company after more than 16 years. Becky Kritek-Behringer, a 17-year veteran who is currently Victoria’s Secret SVP of store operations, … Continue reading BUSINESS NEWS | Victoria’s Secret Head Of Stores Is Stepping Down
Rent the Runway upended retail by offering women designer clothes to rent. Now, a wave of leading brands and department stores are following with their own online clothing rental subscriptions to reach younger shoppers who want to borrow their pants, shirts and dresses. Banana Republic said Friday that it will launch an online rental service … Continue reading FASHION | You Can Now Rent Clothes From Banana Republic
This summer has been no shortage of luxury fashion brands announce new efforts to combat the reckless pollution wrought by the industry, which accounts for a good portion of the world’s textile waste and water contamination. But Dior is extending these efforts beyond the clothes it makes and into another space altogether: reusable straws. On … Continue reading BUSINESS | Dior’s Solution To The Plastic-Waste Crisis Is A Gold-Painted Straw Made Of Hand-Blown Glass – And A 6-Pack Of Them Will Set You Back $146
Jeddah, Saudi Arabia - Bernard Arnault is now the world’s second-richest person, according to Forbes’ calculations. The luxury good titan behind such brands as Louis Vuitton and Moet & Chanddon is worth $103.2 billion in March when Forbes published their annual billionaire rankings. At the time he was the fourth-richest person on the planet. His … Continue reading BUSINESS | France’s Bernard Arnault Is World’s Second – Richest Person
Milan, Italy, June 29, 2019 - A court is set to approve the sale of troubled Italian fashion group Roberto Cavalli to Dubai developer Damac, two sources closed to the matt told Reuters on Friday. Earlier this month Cavalli's board had indicated Damac as the favorite bidder. The other binding offers for the whole group … Continue reading Business | Italian Court Set To Approve Sale Of Roberto Cavalli To Damac: Sources
Big-spending luxury brands like Gucci, Louis Vuitton and Christian Dior are splashing out on everything from dance-fuelled fashion shows to teams of advisers as they target social media platforms in the hunt for young shoppers. Without the entry barriers of magazine advertising – where a one page glossy ad can cost tens of thousands of … Continue reading Business | Hey Big Spender – How Luxury Brands Are Raising The Stakes On Instagram
France is taking aim at the fashion industry’s heavy environmental footprint with a plan to stop companies from destroying unsold items, a government official said. While mass-market apparel brands often market down goods until their shelves are cleared, luxury labels have long preferred to burn some unsold items or bury them in landfills rather than … Continue reading Fashion | The French government is pursuing a ban to stop companies from destroying unsold items, and urging brands to tackle the issue at an industry level.