LVMH Acquires Minority Stake in Our Legacy BoF

Meanwhile, e-commerce off-price brands are growing even faster, with players such as BestSecret growing 25 percent in the first quarter of 2024. Off-price retailers have continued to grow revenues and improve profitability despite broader market turbulence, this year’s McKinsey Global Fashion Index (MGFI) analysis shows. Traditional off-price retailers Burlington, Ross and TJX are expected to grow revenues by a weighted average of 4.6 percent in 2024, compared to a 2.6 percent average for publicly listed fashion companies. Ross and TJX were also among the MGFI Super Winners list, leading in industry economic profit in 2023.

The e-commerce boom may have cooled but online returns rates remain high, and the costs of processing them are more expensive than ever. BoF unpacks how retailers can reduce the costs of returns and protect profit margins, while improving customers’ shopping experience to generate higher sales. A new generation of companies, however, are refining that pitch specifically for fashion.

Kering helped McCartney develop her brand over 17 years, with the partnership ending in March 2019 when she bought back her 50 percent stake. But US President Donald Trump’s policies have fuelled uncertainty, including over the potential size and timing of Shein’s IPO. His decision to scrap a so-called de minimis rule removes an exemption on tariffs for parcels carrying goods worth no more than $800, a blow to Shein’s main business, as well as Temu’s. Founded in China but now based in Singapore, Shein became one of the world’s most valuable startups thanks to its high-volume, low-cost fashion.

Estée Lauder Knows How to Cut Costs. Can It Also Rebuild Growth?

Vinted reports that 65 percent of its buyers prefer to buy fewer, more expensive items that last, rather than more, cheap fashion items. Companies large and small across the US are also starting to announce donations to relief efforts. Estée Lauder Companies said it is donating to the American Red Cross and California Fire Foundation Wildlife and Disaster Relief Fund, as did Michael Kors, while LoveShackFancy has donated to the LAFD. Glow Recipe will be donating $100,000 of essential skincare products to those affected and Tarte is donating 100 percent of net proceeds from its online sales from Jan. 8 to 11 to World Central Kitchen. New York-based independent brands such as fashion label Collina Strada and body-care brand Nopalera are also donating products.

Trump Says Canada, Mexico Tariffs to Take Effect, Adds New China Duty

This achievement is a result of the dedication and hard work of each team member at BOF. Welcome to our Education Furniture range, including sustainable, classic and agile products to suit all workspaces. Our newsletters may include 3rd-party advertising, by subscribing you agree to the Terms and Conditions & Privacy Policy. The announcement comes as the luxury industry faces a downturn, with many smaller brands struggling more than bigger brands catering to wealthier and older shoppers with more purchasing power. The designer, whose label was previously linked to LVMH’s cross town rival, Gucci-owner Kering, surprised the fashion world when her namesake brand left Kering to team up with LVMH in 2019. McCartney will continue to advise LVMH chief executive Bernard Arnault and the group’s executive team on sustainability issues as a Global Ambassador on Sustainability, they said.

• It is frequently described as “indispensable,” “required reading” and “an addiction.” Hosted on Acast.
• 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.
• Today, a successful store doesn’t only convey legitimacy for an online operation or serve as a billboard for a brand; it’s a crucial way to differentiate a business in a market with many players with similar value propositions.
• BOF are working to ensure our customers have a choice to procure and use furniture to support circular furniture initiatives.

The departments are Revenue/Fiscal Policy, Expenditure Social, Expenditure Economics, Budget Monitoring and Evaluation, Human Resources Management, Finance and Accounts. The Units are ICT, ACTU, Procurement, Legal, Stock Verification, Internal Audit and Servicom. The conglomerate will use the 12-bedroom property to host exclusive shows and events for its companies, sources told Bloomberg. The closing of its deal to create a new entity to house $4 billion worth of properties could come in early 2025. The company reported fourth-quarter revenue of €455.8 million ($478.27 million), compared with the average analyst estimate of €439.2 million.

On Dec. 8, he announced the launch of his “Fight Fight Fight” men’s cologne and women’s perfume on his social media platform Truth Social, using a meme-style photo of him and First Lady Jill Biden to promote the fragrances. US lawsuits have yielded settlements worth more than $11 billion involving companies including 3M (MMM.N) and Chemours Co (CC.N) over contamination of water. The Belgian designer turned the Y/Project into one of Paris Fashion Week’s hottest emerging labels. In an exclusive interview, CEO Daniel Ervér outlined his strategy to turn the Swedish fast-fashion giant’s greatest weakness – its positioning above Shein but below Zara in the category’s pricing hierarchy – into a strength. Martens, a graduate of Antwerp’s prestigious Royal Academy, is one of fashion’s hottest designers with a knack for creating runway-ready fashion out of democratic materials like denim and jersey.

For The RealReal, the number of active buyers have shrunken in recent quarters since a peak in 2022, from 430,000 in the three months ending Dec. 31 of that year to 389,000 in its third quarter last year. Fashion brand La DoubleJ also saw its not-yet-opened store in the Pacific Palisades destroyed, according to an Instagram post by its designer J.J. Stores still standing include Cult Gaia, Anine Bing and Favorite Daughter, the brands confirmed.

Fashionphile acquired its intellectual property as well as remaining inventory after LXR filed for bankruptcy. The secondhand market has expanded significantly over the past decade, driven by digitally native platforms like The RealReal and Fashionphile that identified — and quickly populated — a white space for stylish, fashion-forward online shoppers. But in recent years, the rapid growth among this cohort of internet-savvy early adopters has slowed.

Some of our best sellers today are products we introduced five or six years ago,” Hallin said, adding that the brand will have more capital to fund special projects, storytelling efforts and attract key hires. The brand doesn’t expect its core product offerings to change following the investment. “I think the customer saw our value at a time when people were shifting away from limited edition sneakers and wanting a more subtle, mature attitude to dressing,” said Hallin.

These range from on-time-in-full issues due to vendor problems to inaccurate inventory forecasting. For evidence the frenetic naming and consumption of viral trends has tempered, look at what’s dominated online fashion discourse lately. Donald Trump is marketing a self-branded $399 metallic gold high-top sneaker after being ordered by a New York judge to pay $364 million for lying about his wealth. Research linking PFAS exposure to health issues – including liver damage, lower birth weights and testicular cancer – is raising litigation risks for companies, Jefferies analysts said in a note this month. Industrial applications such as plastics and electronics production account for most PFAS use, according to data Bof casino from Nordic countries’ chemicals agencies .