Richemont's year to 31 March saw a “strong performance”, with a “step change in sales and operating profit”. Its fashion ops improved, but the share price fell as a deal to sell a YNAP stake to Farfetch is not agreed.
The German group is the fifth founding member, and the only car manufacturer, to join the global blockchain platform dedicated to the luxury industry, formed by heavyweights LVMH, Prada, Cartier and the OTB Group.
Japanese luxury resale firm The Valuence Group announced on Wednesday the launch of Allu USA, an English language e-commerce site and selling studio, catering to the sustainable luxury market in America.
The Richemont-owned jewellery brand has chosen Earth Day to symbolically join the Carbon Neutral Challenge launched in 2019 by Gucci CEO Marco Bizzarri, with the goal of reducing greenhouse gas emissions.
A group of experienced and youthful French executives have launched the Fédération de la Mode Circulaire, designed to inject dynamism into the fight to stop climate change caused by the fashion and luxury industries.
Important executive changes at Watches of Switzerland have been unveiled with the high-flying luxury retailer appointing two new presidents. Analysts have linked this to succession planning at the buoyant business.