LVMH Acquires Minority Stake in Our Legacy BoF

A number of top business leaders in fashion and tech attended the smaller-scale inauguration inside the US Capitol. Consider “premiumisation” of select product lines to showcase value through quality of materials and durability. When asked which categories they would spend on (e.g. groceries, clothing, activities) given higher discretionary Bof spend, over 70 percent say they would continue certain trade-down behaviours in their fashion purchases. “It’s a big undertaking to go international, and to choose where to go or determine whether there’s demand there,” said Hemminger.

A red carpet presence helps build legitimacy, awareness and credibility — but as luxury giants spend big and young designers closely watch their budgets in a touch market, many are reworking their approaches to celebrity dressing. No matter microtrends’ fate, what will remain is the lessons retailers gleaned from the peak of the microtrends moment, including the importance of being able to plug into fast-moving cultural conversations. The European Commission intends to propose a ban on the use of PFAS, or “forever chemicals”, in consumer products, with exemptions for essential industrial uses, the EU’s environment chief told Reuters.

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He is based in London and covers the intersection of sports and fashion, as well the sportswear and sneaker markets. Alleging that the deal was “irregular and not commercially reasonable”, the complaint says that Chuter had a controlling interest in the company at the time, and describes the deal as a “private sale” at an unreasonable price. Sharon Chuter, the founder of the prestige cosmetics company Uoma Beauty, has sued the brand’s new owners, MacArthur Beauty LLC and BrainTrust, alleging that the purchase of its assets in December 2023 was an unauthorised and below market value sale. The Business of Fashion has gained a global following as an essential daily resource for fashion creatives, executives and entrepreneurs in over 200 countries. It is frequently described as “indispensable,” “required reading” and “an addiction.” Hosted on Acast. Introducing our brand new, sustainability inspired HQ Show-space in Bridgend, South Wales presenting our entire Harmony furniture collection backed by the latest flexible and technology solutions.

New CEO Elliot Hill said the brand was making progress repositioning itself; shares jumped on the news. Prada Group, led by rocket growth at little sister brand Miu Miu, reported nine-month revenues up 18 percent year-on-year in October. Still, investors are keeping an eye on deceleration at the main, more profitable Prada line. Miu Miu’s retail sales remained strong in the fourth quarter, rising 84 percent, while Prada grew by 4 percent.

The Director General addressing the audience at the Public Presentation of the 2024 Budget Proposal

Reselling returned products can also be a source for finding new customers as it remains difficult for brands to appeal to shoppers online. Revive, meanwhile, works with brands across price points to repair returned items within three weeks to their original condition to be resold at full price on a brand’s site or through resellers like Poshmark and eBay. The company collects a commission from what’s sold on resale sites and charges a service fee for the refurbishing process. In the first half of 2024, Zalando’s business-to-consumer (B2C) channel profitability rose 1.4 percentage points year on year and revenue grew by 0.6 percent.

Its investors include IDG Capital, Mubadala Investment Co., Tiger Global Management and HongShan Capital, formerly known as Sequoia Capital China. Shein’s had a bumpy ride in its attempt to go public, with questions raised over its supply-chain operations and labor practices, while uncertainty over global trade relations and political tension is mounting. The company rerouted its IPO application to London last year after its goal of listing in the US faltered. Prioritise data transparency and marry the data between retail functions, integrating multiple systems.

OTB’s flagship label Diesel is back in the fashion conversation amid a revamp by creative director Glenn Martens, who has overhauled its product offer and brought back the cheeky, transgressive marketing sensibility. Discover all job opportunities on BoF Careers today — explore over 2,000 global job roles from internships to c-suite roles, across creative and business functions in fashion, luxury and beauty. Plus, stay up to date with our careers advice, insight and analysis by reading our Workplace & Talent content. As we announced earlier this year, the Coronavirus pandemic impacted our business in ways we could never have imagined. While we have remained committed on our mission to open, inform and connect the global fashion industry, this new business environment has forced us to approach problems with renewed innovation, creativity and purpose. Shoppers are more than happy to spend over $200 on brands with a strong value proposition and luxury image.