French group Kering said Wednesday it will sell a further $1 billion worth of shares in Puma as it continues to unwind its investment in the sneaker and sportswear maker to focus on higher-end luxury brands.
This week, following in the footsteps of mighty conglomerates like LVMH and Kering, New Guards launched its own eyewear division, spearheaded by Francesco Ragazzi, the creative director and founder of Palm Angels.
With digital screens now ubiquitous, the eyewear producer has launched the ‘Blue & Beyond’ project, equipping some of its labels’ models with anti-blue light, photochromic UV protection lenses, a luxury industry first.
The luxury goods sector could shrug off the hit from the coronavirus crisis as early as this year as Chinese and U.S. shoppers help sales recover to pre-pandemic levels, consultancy Bain said on Monday.
Gucci plans to stage its next runway show in Los Angeles, the first time the Florentine marque has staged a show in the United States in six years. In the label's centennial year, it will hold a catwalk event on Nov. 3.
On June 1, Hubert Hinterseher will take over from Michael Lämmermann, the German sport group’s CFO since 2013. Arne Freundt, currently head of EMEA, has instead been promoted to the post of chief commercial officer.
The French label, which recently opened its first flagship in Korea, generates 71% of its sales with leather goods, including accessibly priced handbags to attract a younger clientèle, according to a study by Retviews.
Gucci and Facebook have filed a joint lawsuit in California against an individual who allegedly used the U.S. group's social media platforms to sell fake Gucci products, the two companies said on Tuesday.