Selfridges is for sale with a formal auction process about to start. It hasn’t been announced by its owners, the Westons, but a news report said Credit Suisse will be canvassing prospective buyers “imminently”.
LVMH-owned luggage brand Rimowa has launched a collab with London-based accessories label Chaos. The company said the two labels are “united by their common appreciation for luxurious design and innovative solutions”.
The trading environment may have been volatile but luxury giant Richemont still managed to see net profit rising almost 40% in the financial year to the end of March, beating forecasts by a wide margin.
With European populations slowly but surely being vaccinated, designers on the Continent are suddenly expressing a new optimism. Few more so than Demna Gvasalia of Balenciaga in Balenciaga's winter 2021 pre-collection.
Burberry saw another round of retail sales falls in Q3, with Europe and the Americas still being hit hard. But it said China, Korea, leathergoods, outerwear and full-price sales all headed in the right direction.
Richemont’s third quarter — the all-important three months to the end of December — saw sales rising only 1%, although currency-neutral, they were up a healthier 5%, despite the “continuously volatile environment”.