EssilorLuxottica scrapped its financial guidance on Friday and warned of a hit to second-quarter profit due to the coronavirus crisis, adding it was putting investments on hold as it halts production at selected sites.
Luxury group Kering had a good year in 2019 and the final quarter was also strong. Its star brand Gucci outperformed, Saint Laurent continued to power ahead and Bottega Veneta’s recovery looked to be well established.
The house of Azzaro has appointed Olivier Theyskens to be its new Artistic Director, in a surprise move sure to receive an enthusiastic response as he is regarded as one of the industry’s most naturally gifted designers.
One year ago, Tom Ford became Chairman of the Council of Fashion Designers of America, as the industry heralded a new dawn for NYC fashion. However, 12 months later, the season is strikingly denuded of many major names.
In 2019, the eyewear group's revenue rose by 3.1%, as APAC’s increased by 23.1% and the wholesale channel grew in line with forecasts. But Q4 was weak, due to an expected slowdown in Europe after the Kering deal.
Lenskart has raises around $275 million (Rs 1,956 crore) from Softbank Vision Fund. The company will be using the funds to enhance its technology capabilities and strengthening its supply chain infrastructure.
John Galliano has renewed his contract as creative director of the house of Maison Margiela, in a vote of confidence in the controversial British designer by the brand's owner, Italian billionaire Renzo Rosso.