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.
business-growth
Financial Markets
Amazon Profit Tops Estimates as Delivery Options Fuel Growth
Amazon.com Inc.’s sales and profit topped estimates on robust demand for quick-turnaround delivery and gadgets like the Kindle and Echo, adding to evidence the e-commerce giant can make money even as it invests heavily in future hardware, software and entertainment.
Amazon Profit Tops Estimates as Delivery Options Fuel Growth
Amazon.com Inc.’s sales and profit topped estimates on robust demand for quick-turnaround delivery and gadgets like the Kindle and Echo, adding to evidence the e-commerce giant can make money even as it invests heavily in future hardware, software and entertainment.
Financial Markets
Francesca Bellettini on Saint Laurent in the Post-Hedi Slimane Era
In her first ever in-depth interview, Yves Saint Laurent chief executive Francesca Bellettini speaks exclusively to BoF’s Imran Amed on maintaining the brand’s momentum in the post-Hedi Slimane era.
Francesca Bellettini on Saint Laurent in the Post-Hedi Slimane Era
In her first ever in-depth interview, Yves Saint Laurent chief executive Francesca Bellettini speaks exclusively to BoF’s Imran Amed on maintaining the brand’s momentum in the post-Hedi Slimane era.
Financial Markets
MCM Aims For $2 Billion Sales in Five Years
MCM, the brand owned and run by one of South Korea's best-known female entrepreneurs, Sung-Joo Kim, aims to more than double sales to $2 billion within five years, tapping into shoppers' growing appetite for niche luxury brands.
MCM Aims For $2 Billion Sales in Five Years
MCM, the brand owned and run by one of South Korea's best-known female entrepreneurs, Sung-Joo Kim, aims to more than double sales to $2 billion within five years, tapping into shoppers' growing appetite for niche luxury brands.
Financial Markets
Versace Sees Growth Slowing in 2016, Chief Executive Says
Versace's cautious outlook comes after several luxury groups including LVMH, Richemont and Burberry posted weak first-quarter sales.
Versace Sees Growth Slowing in 2016, Chief Executive Says
Versace's cautious outlook comes after several luxury groups including LVMH, Richemont and Burberry posted weak first-quarter sales.
Financial Markets
Beyonce Seen Boosting Zalando After Muted Start to 2016
Zalando said the launch of a new sports label by Beyonce had boosted sales since the Easter holidays after revenue grew less rapidly than expected in the first quarter.
Beyonce Seen Boosting Zalando After Muted Start to 2016
Zalando said the launch of a new sports label by Beyonce had boosted sales since the Easter holidays after revenue grew less rapidly than expected in the first quarter.
Financial Markets
European Shares Hit One-Month High, L'Oreal Leads
L'Oreal rose 4.6 percent, the top gainer in the FTSEurofirst 300 index, as the French cosmetics company pledged to outperform the market in 2016 and confirmed its ambition to achieve another year of sales and profit growth after first-quarter sales rose more than expected.
European Shares Hit One-Month High, L'Oreal Leads
L'Oreal rose 4.6 percent, the top gainer in the FTSEurofirst 300 index, as the French cosmetics company pledged to outperform the market in 2016 and confirmed its ambition to achieve another year of sales and profit growth after first-quarter sales rose more than expected.
Financial Markets
AB Foods Sees Relief from Currency Pressures as Profit Rises
Associated British Foods, owner of the Primark clothing chain, beat forecasts with a 3 percent rise in first-half profits and said currency pressures that had held back its performance were starting to ease.
AB Foods Sees Relief from Currency Pressures as Profit Rises
Associated British Foods, owner of the Primark clothing chain, beat forecasts with a 3 percent rise in first-half profits and said currency pressures that had held back its performance were starting to ease.
Financial Markets
Bulgari Sees Brighter Prospects for Second Half of Year
Bulgari chief executive Jean-Christophe Babin sees growth picking up in the second half of the year after sales suffered following the terror attacks in Paris in November.
Bulgari Sees Brighter Prospects for Second Half of Year
Bulgari chief executive Jean-Christophe Babin sees growth picking up in the second half of the year after sales suffered following the terror attacks in Paris in November.
Luxury
How Comme des Garçons Grew Gosha Rubchinskiy
BoF spoke exclusively with Gosha Rubchinskiy and Adrian Joffe, president of Comme des Garçons, to learn how the company catalysed the rapid growth of the skater-inflected fashion label.
How Comme des Garçons Grew Gosha Rubchinskiy
BoF spoke exclusively with Gosha Rubchinskiy and Adrian Joffe, president of Comme des Garçons, to learn how the company catalysed the rapid growth of the skater-inflected fashion label.
Financial Markets
James Jebbia on Taking Supreme Global
In a rare interview, the press-shy founder speaks exclusively to BoF about Supreme’s new Paris store — set to open later this week — and the company’s homegrown approach to global expansion.
James Jebbia on Taking Supreme Global
In a rare interview, the press-shy founder speaks exclusively to BoF about Supreme’s new Paris store — set to open later this week — and the company’s homegrown approach to global expansion.
Financial Markets
The Growth Conundrum
As key global markets continue to cool, business growth in the luxury sector will be hard won in 2016. But, here are three levers that fashion’s luxury megabrands can employ to drive growth.
The Growth Conundrum
As key global markets continue to cool, business growth in the luxury sector will be hard won in 2016. But, here are three levers that fashion’s luxury megabrands can employ to drive growth.
Financial Markets
Kate Spade Founders Talk New Accessories Brand
Kate Spade founders Kate Valentine and Andy Spade talk to BoF about their decision to launch new accessories line Frances Valentine, what’s different this time around and the dynamics of a 30-year-long personal and professional partnership.
Kate Spade Founders Talk New Accessories Brand
Kate Spade founders Kate Valentine and Andy Spade talk to BoF about their decision to launch new accessories line Frances Valentine, what’s different this time around and the dynamics of a 30-year-long personal and professional partnership.
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.