Garage Clothing Owner Rides Y2K Fashion to $5.3 Billion Fortune
Andrew Lutfy, CEO and majority owner of Groupe Dynamite, saw his net worth surge to $5.3 billion after a sharp rise in shares following the company’s 2024 IPO.
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Latest News & Analysis
Luxury
China's Gen-Z Shoppers Fuelling Luxury Market Momentum
Consumers in their late teens and early 20s are rapidly taking center stage in China, the average shopper is reportedly younger than anywhere else in the world.
China's Gen-Z Shoppers Fuelling Luxury Market Momentum
Consumers in their late teens and early 20s are rapidly taking center stage in China, the average shopper is reportedly younger than anywhere else in the world.
China
China's Stay-at-Home Shoppers Propel Luxury Sales: Bain
Despite trade war concerns, Chinese consumers will continue to grow in stature for the luxury industry.
China's Stay-at-Home Shoppers Propel Luxury Sales: Bain
Despite trade war concerns, Chinese consumers will continue to grow in stature for the luxury industry.
China
Chinese and Millennials Drive Luxury Rebound, Says Bain
Revenue from personal luxury goods is projected to rise 6 percent to €262 billion as Chinese buyers account for 32 percent of the luxury goods market in 2017.
Chinese and Millennials Drive Luxury Rebound, Says Bain
Revenue from personal luxury goods is projected to rise 6 percent to €262 billion as Chinese buyers account for 32 percent of the luxury goods market in 2017.
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The News in Brief
Danone Acquires Protein Drinks Maker Huel in €1 Billion Deal
Huel, which counts actor Idris Elba and TV presenter Jonathan Ross among its investors, has agreed to be acquired by the French consumer goods group in a deal worth about $1.2 billion.
Qatar Investment Authority Eyes 10% Stake in Golden Goose
Qatar’s sovereign wealth fund is preparing to buy a stake in Italian sneaker maker Golden Goose, Corriere della Sera reported Saturday.
Retailers Push UK to Join US and EU Ending Shein Parcel Loophole
British retailers are pushing the UK government to end a tax loophole that has helped online giants Shein and Temu make significant inroads and gain market share.
Exclusive: Deciem to Relaunch The Chemistry Brand
The Estée Lauder-owned beauty company and The Ordinary parent will relaunch one of its original brands as it moves to rekindle its reputation for incubation.
De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.