Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
Global Data from IBM Points to AI Growth as Businesses Strive for Resilience. Adoption poised to accelerate as nearly half of global IT professionals cite advances in AI that make it more accessible. Changing business needs due to COVID-19 driving adoption. New market research commissioned by IBM found that almost one-third of IT professionals … Read more
Gianfilippo Testa succeeds Emmanuel Gintzburger as Alexander McQueen’s CEO. Gianfilippo Testa appointed CEO of Kering-owned Alexander McQueen. Kering announced the appointment of Gianfilippo Testa as CEO of Alexander McQueen, effective May, 2022. He will report to François-Henri Pinault, the French businessman, the chairman and CEO of Kering since 2005, and president of Groupe Artémis since 2003. Under Pinault’s leadership, the … Read more
Transaction values Lanvin Group at a pro forma enterprise value of US$1.5 billion, with a combined pro forma equity value of up to US$1.9 billion. Lanvin Group, a global luxury fashion group and Primavera Capital Acquisition Corporation have entered into a definitive business combination agreement that is expected to list Lanvin Group on the … Read more
Capri Holdings Limited Appoints Emmanuel Gintzburger as CEO of Versace. Global fashion luxury group Capri Holdings Limited, Versace’s parent company, announced the appointment of Emmanuel Gintzburger as Chief Executive Officer of Versace effective September 12, 2022. Gintzburger will report to John D. Idol, Chairman and Chief Executive Officer of Capri Holdings. Gintzburger joins Versace from … Read more
Bentley Motors announced the luxury automotive marque’s financial results for 2021, complementing the company’s record sales performance during the same 12-month period. Operating profits rose to €389 million, which was €369 million more than in 2020. Turnover last year reached €2.845 billion, while an increased level of personalisation and a model mix dominated by Speed, … Read more
Walpole, the industry body for the British luxury sector, has unveiled the participants for its annual Brands of Tomorrow programme. The initiative will nurture and guide 12 of Britain’s most innovative fledging luxury companies, and provide the skills and support needed to navigate the ongoing challenges of the global pandemic and beyond. Now in … Read more