LVMH sales decline due to Trump tariffs
Luxury giant LVMH's sales fell two percent to 20.3 billion euros ($23 billion) in the first quarter of 2025, the company said on Monday. US President Donald Trump's tariffs shook the global economy.The producer of Louis Vuitton bags and Dom Perignon champagne, owned by Europe's richest man Bernard Arnault, generates…
Prada’s deal: Versace acquisition creates Fashion Force
Prada said Thursday that it had reached a deal to buy Versace for 1.25 billion euros ($1.38 billion), building a new Italian fashion powerhouse and hoping to insert much-needed "spark" into its smaller, flashier rival.The much anticipated acquisition, from US group Capri Holdings, will create a group with revenues of…
H&M’s slow spring sales spark concern
Swedish fast-fashion retailer H&M's sales were up just 1% in March after a weaker-than-expected first quarter, a sign of a slow start to the spring and summer season.H&M has ramped up marketing spending to boost its brand, but the returns on that investment have been slow to appear. Its shares…
Jonathan Anderson exits Loewe: Major fashion shake-up
British designer Jonathan Anderson has left Spanish brand Loewe after over a decade at the helm, owner LVMH announced Monday. The 40-year-old is tipped to take over at Dior.The move is part of a major reshuffling of top jobs at global fashion brands after a round of resignations and forced…
