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Brunello Cucinelli raises forecast, projects 11 to 12 percent revenue growth

Following positive sales in the last few months and of early December, Brunello Cucinelli projects an increase in revenues of 11 to 12 percent for 2024, with growth in the fourth quarter expected to be in line with the outstanding result for the third quarter. Commenting on the year-end update, Brunello Cucinelli, executive chairman and creative...

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Vera Bradley’s Q3 revenue and earnings decline

Vera Bradley’s third quarter net revenues declined to 80.6 million dollars and consolidated net loss reached 12.8 million dollars or 46 cents per diluted share. For the nine month period, net revenues decreased to 272 million dollars and consolidated net loss totaled 15.2 million dollars or 52 cents per diluted share. Commenting on the third...

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John Galliano exits Maison Margiela

Luxury fashion house Maison Margiela has confirmed the exit of its renowned creative director John Galliano, marking the end of a significant creative chapter for the avant-garde brand. A statement released by the company suggest the departure was amicable, with founder and OTB Group CEO Renzo Rosso being open to future collaborations. The...

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Aampe raises 18 million US dollars to scale personalisation

Aampe, the digital personalisation specialist for brands, has raised 18 million US dollars in Series A financing, led by Theory Ventures, to accelerate the adoption of its agentic infrastructure. The latest funding round, which also included participation from Z47, brings Aampe’s total funding to 27.3 million US dollars, as the San...

Report|Beauty

Kosé acquires Thai beauty brand Pañpuri

Japanese beauty conglomerate Kosé is acquiring Bangkok-based beauty brand Pañpuri as part of its medium-to-long-term strategy to “add regionally rooted brands” to its portfolio, which includes luxury skincare line Decorté and American cosmetics company Tarte. The acquisition will help Kosé push into the wellness space, as Pañpuri has created a...

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Zara owner Inditex posts sales and profit growth

In the nine month period, Zara owner Inditex recorded sales growth of 7.1 percent to reach 27.4 billion euros. The Spanish group, who also owns other brands such as Massimo Dutti, Pull & Bear and Bershka reported gross profit increase of 7.2 percent to 16.3 billion euros, while gross margin reached 59.4 percent, up 4 bps. The company said in a...

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De Beers Jewellers names new chief marketing officer

De Beers Jewellers has appointed Henry Jun Liu as its chief marketing officer to lead the luxury jewellery house’s global marketing strategy to drive the brand’s ambitious growth plans and further position it as a leading luxury jewellery destination. Liu has more than 20 years of international marketing experience, including over eight years in...

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Rent the Runway Q3 revenues up by 4.7 percent

Rent the Runway reported third quarter revenue of 75.9 million dollars, a 4.7 percent increase year-over-year. For fiscal year 2024, the company expects revenue growth of between 2 percent to 4 percent and adjusted EBITDA margin of 15 percent to 16 percent. “Rent the Runway has realigned our company talent and ways of working this year to be...

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Stitch Fix posts 12.6 percent drop in Q1 revenues

Online personal styling service Stitch Fix reported first quarter net revenue of 318.8 million dollars, a decrease of 12.6 percent year-over-year. For the second quarter, the company forecasts revenue to range between 290 million dollars to 300 million dollars, down between 9 to 12 percent and adjusted Ebitda in the range of 8 million dollars to...

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G-III raises earnings guidance for fiscal 2025

G-III Apparel Group’s third quarter net sales increased 1.8 percent to 1.09 billion dollars, while net income was 114.8 million dollars or 2.55 dollars per diluted share. The company said non-GAAP net income per diluted share was 2.59 dollars for the quarter compared to 2.78 dollars in the same period last year. Commenting on the financial...

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Cart.com acquires Guthy-Renker’s fulfilment operations arm OceanX

Cart.com, a unified commerce solutions provider, has acquired OceanX, the wholly-owned fulfillment operations arm of Guthy-Renker. The company said in a release that the acquisition further strengthens Cart.com's position as a leader in mid-market to enterprise logistics and expands its tech-enabled capabilities to support high-volume beauty,...

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LVMH sells Thomas Pink to CP Brands Group and Icon Luxury Group

New York based firms CP Brands Group and Icon Luxury Group have announced the acquisition of British clothing brand Thomas Pink from its former parent company, LVMH. The deal was described by the two groups in a press release as a “joint partnership” that aims to “usher in a bold new chapter for the Thomas Pink brand”. Commenting on the move,...