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LVMH takes full control of Pucci

Luxury conglomerate company LVMH, the parent company to luxury brands including Louis Vuitton, Dior, and Givenchy, now owns 100 percent of Emilio Pucci. LVMH bought out the remaining 33 percent that was still held by the founding family. Exact details of the transaction were not disclosed. Per the terms of the deal, Laudomia Pucci, will step...

Jun 18, 2021

Business

Walmart invests in on-demand drone delivery service

Retail giant Walmart has announced its investment in DroneUp - a nationwide on-demand drone delivery service. The news comes following a trial between the two companies last year which saw the delivery of at home covid-19 self-collection kits. The trail successfully completed hundreds of safe drone deliveries from Walmart stores. John Furner,...

Jun 18, 2021

Business

LVMH partners with Google for AI innovation

French luxury group LVMH has partnered with Google Cloud to accelerate innovation and create new could-based artificial intelligence solutions. The two businesses will join forces to offer new AI and machine learning technologies, aimed at improving business operations through demand forecasting and inventory optimization. The customer...

Jun 16, 2021

Business

Ralph Lauren reveals goal to achieve net-zero emissions by 2040

American fashion company Ralph Lauren has set a new goal to reach net-zero greenhouse gas emissions by 2040. The announcement is part of the company’s recently published Global Citizenship and Sustainability Report, which provides an update on its Design the Change initiative. Other goals the company has revealed include gaining Cradle to Cradle...

Jun 16, 2021

Business

Pantys expands into Europe with Selfridges pop-up

Pantys, the absorbent underwear brand with 100 percent carbon-neutral products, has expanded into Europe with a pop-up at Selfridges in London, the brand’s first retail partner. Founded by Emily Ewell and Maria Eduarda Camargo in Brazil in 2017, Pantys was created to improve the quality of life for women through sustainability and innovation,...

Jun 16, 2021

Business

Neiman Marcus Group intends to acquire Stylyze

The Neiman Marcus Group has revealed its intention to acquire Stylyze - a digital platform that offers solutions to retailers for an improved customer experience. NMG initiated a strategic partnership with Stylyze in 2018, and its technology is already a key part of the company’s remote-selling platform and industry-leading client tool called...

Jun 16, 2021

Business

Genesis. A new designer label you should work for

Why new car brand Genesis are recruiting in luxury retail Genesis is a new car brand created to offer customers a whole new way to own and drive a luxury car. The cars themselves are created by top Belgian designer, Luc Donckerwolke and exude elegance and style. See for yourself atwww.genesis.com The Genesis range are premium luxury cars...

Jun 15, 2021

Business

Unilever to acquire Paula’s Choice skincare

Unilever, the global company responsible for brands like Dove and Sunsilk, will acquire Paula’s Choice skincare from TA Associates. Paula’s Choice skincare launched in 1995 and is known for its high-performing ingredients and cruelty-free products. The company also breaks down the science behind its skincare products and offers an extensive...

Jun 15, 2021

Business

Chanel revenue fell 18 percent during 'highly disrupted' pandemic

Chanel on Tuesday said its revenue fell 18 percent to 10.1 billion dollars in 2020. The Paris-based luxury house said its business was “highly disrupted” due to store closures and suspension of international travel. Prior to global lockdowns, Chanel had a robust duty-free business, which instantly froze as tourism was halted. While the pandemic...

Jun 15, 2021

Business

Joor secures 46 million US dollars investment to fuel expansion

Joor, the digital fashion wholesale platform, has raised 46 million US dollars in Series D funding led by Macquarie Capital Principal Finance. The wholesale platform has more than 12,500 brands and 325,000 curated retailers across 144 countries, covering luxury, fashion, accessories, footwear, lifestyle and home. Each month the service processes...

Jun 15, 2021

Business

European consumers facing more risks than ever due to fake products sold online

A new study by the European Union Intellectual Property Office (EUIPO) says consumers are facing ever more risks due to buying fake products online. A surge in e-commerce counterfeit from nearly every sector, including fashion, cosmetics and pharmaceuticals, can pose great safety and health concerns. Findings from the study European Citizens and...

Jun 15, 2021

Business

H&M joins EU Green Consumption Pledge Initiative

H&M has announced its commitment to the EU Commission’s Green Consumption Pledge Initiative, aiming to create a more sustainable future for the fashion industry. The pledge allows companies to make a public commitment to reduce their coverall carbon footprint and produce more sustainable products. H&M’s vision is to become climate positive by...

Jun 15, 2021