The Modist has closed its doors, not just for the duration of the global lockdown, but permanently. The modest fashion luxury e-tailer said that it’s ceasing operations having taken a huge hit due to Covid-19.
The Spanish prêt-à-couture firm, controlled by Perfumes y Diseño group since 2011, is looking for an investor to sell either a majority or minority stake in the business. The "right" partner will be a fashion expert.
Founded in 1955, the Chalhoub Group, a major distributor of luxury goods in the Middle East, has made some big changes over the last few years through digital development, innovation and strategic partnerships.
Just one week after the Spanish luxury label’s last fashion show, in London, it has confirmed the departure of its head creative, Catalan designer Josep Font, its creative director for the past six years.
Farfetch will complete by the end of this week its much-anticipated initial public offering (IPO) on the New York Stock Exchange with a valuation of up to $4.8 billion if investors pile in to buy its shares.