Business

Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.

Crypto diamonds: Another milestone in the adoption of cryptocurrencies is reached

by

  We are witnessing a historical moment… One of the Earth’s oldest and rarest treasures was purchased using humanity’s newest universal currency. An anonymous buyer purchases exceptional 101.38-carat Pear-Shaped D Colour Flawless Diamond for HK$95.1m/ US$12.3m. Crypto rocks: Sotheby’s sells first world-class 100-carat diamond to crypto-buyer This month, another milestone was reached in the adoption … Read more

Prada and Ermenegildo Zegna acquire cashmere and noble yarns company

by

    Prada Group and Ermenegildo Zegna have always pursued direct control of the entire supply chain to ensure uncompromising quality at every stage of the production process. Prada Group and Ermenegildo Zegna Group announce the acquisition of the majority shareholding in Filati Biagioli Modesto S.p.A., a company based in Montale (Pistoia), which for over … Read more

Italy’s luxury brand Etro partners with the largest global consumer-focused private equity firm

by

  Etro Announces Strategic Partnership with L Catterton Europe.  Etro, the global luxury fashion house, has entered into a binding agreement to partner with L Catterton, the largest global consumer-focused private equity firm. Under the terms of the agreement, L Catterton Europe will acquire a majority stake in the Company, while the Etro family will … Read more

Luxury Group and Virgil Abloh have agreed to another arrangement to join forces

by

  LVMH, the French Holding multinational corporation and conglomerate specializing in luxury goods, and American designer, entrepreneur, and DJ Virgil Abloh have agreed to jointly pursue new projects across luxury categories. LVMH luxury group will acquire a majority stake in Off-White, the trademark owner of Off-White. Following the acquisition, LVMH will own a 60% interest … Read more

Moët Hennessy and Campari are building a premium Wines & Spirits e-commerce

by

Moët Hennessy and Campari Group form of a 50/50 joint venture and intend to build a premium pan-European e-commerce player. Moët Hennessy and Campari Group announced the formation of a 50/50 joint venture (JV) with the purpose of investing in Wines & Spirits e-commerce companies and build a European e-commerce pure player in this growing … Read more

French Billionaire Bernard Arnault Invests in Business School for Adults Seeking to Begin New Careers

by

French billionaire Bernard Arnault invests in center for entrepreneurs and adults seeking to begin new careers. Beginning in the fall of 2021, the space will welcome some 250 students and entrepreneurs. Inauguration of the Jean Arnault Campus in Roubaix, in partnership with EDHEC Business School and L’Institut des Vocations pour l’Emploi. With a focus on … Read more