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YNAP extends Volunteered Vehicles initiative to Italy and Hong Kong

YNAP extends Volunteered Vehicles initiative to Italy and Hong Kong

Yoox Net-A-Porter is offering its Premier Delivery Service fleet to support the work of local charities in Italy and Hong Kong, after launching the initiative in London last week.
Luxury
M Missoni links with AwaytoMars and global design community on co-created capsule

M Missoni links with AwaytoMars and global design community on co-created capsule

M Missoni has announced a link-up with AwaytoMars to invite designers from all over the globe to virtually co-create a capsule collection that’s to be produced and sold worldwide.
Luxury
Westfield managers take pay cut, company's credit rating cut

Westfield managers take pay cut, company's credit rating cut

Unibail-Rodamco-Westfield has announced pay cuts of between 20% and 25% for its senior execs with the unpaid salaries and fees being used to support efforts to fight the coronavirus in the countries in which it operates.
Fashion
Louis Vuitton starts making free masks

Louis Vuitton starts making free masks

LVMH is converting five of its Louis Vuitton workshops to make masks for frontline health workers, the luxury brand said Wednesday, in addition to the masks already being fabricated at the group's Dior workshops.
Luxury
Salvatore Ferragamo sales drop by 30% in Q1 2020

Salvatore Ferragamo sales drop by 30% in Q1 2020

The Covid-19 crisis hit the Italian luxury label’s sales hard in the first three months of the 2020 financial year, causing revenue to fall by 30.6%, down to €220 million.
Luxury
Luxury sector set to pay heavy Covid-19 price in 2020 with up to €100 billion sales shortfall

Luxury sector set to pay heavy Covid-19 price in 2020 with up to €100 billion sales shortfall

According to a survey by BCG/Bernstein, the pandemic could wipe out up to nearly a third of the luxury market's value, estimated at €350 billion in 2019, with heavy repercussions on luxury groups’ EBITDA and cash flow.
Luxury
Tiffany says Australian regulators seek more time to review LVMH deal

Tiffany says Australian regulators seek more time to review LVMH deal

Tiffany & Co said on Wednesday Australian regulators have sought more time to review LVMH's multi-billion dollar purchase of the U.S. jeweler due to the coronavirus outbreak, potentially delaying closure of the deal.
Luxury
Nordstrom temporarily shutters headquarters on coronavirus fears

Nordstrom temporarily shutters headquarters on coronavirus fears

Nordstrom Inc has temporarily shut down its corporate headquarters in Seattle due to the spread of the coronavirus in the area, the retailer said in a filing on Wednesday.
Fashion
Positive Luxury launches webinar series to inspire and promote change

Positive Luxury launches webinar series to inspire and promote change

Sustainability platform Positive Luxury has launched a brand-new weekly webinar series designed to educate, innovate and inspire viewers to be a catalyst for change. 
Luxury
Patou launches #PatouGether to raise funds for WHO

Patou launches #PatouGether to raise funds for WHO

Donald Trump may be mulling over cutting funds to the World Health Organization, but the house of Patou has launched a fashion project, for which 100% of the revenues are destined to WHO.
Fashion
Net-A-Porter UK, US sites start taking pre-orders

Net-A-Porter UK, US sites start taking pre-orders

E-tailer Net-A-Porter is taking orders via its UK website once again, although these orders won't be fulfilled just yet as the company’s London warehouse remains closed for now. Its US site is also open for pre-orders.
Luxury
VF, PVH and TJX look to deal with coronavirus disruption through further cuts and furloughs

VF, PVH and TJX look to deal with coronavirus disruption through further cuts and furloughs

Since the beginning of the week, companies including Genesco, PVH, VF and TJX have announced a range of new measures designed to preserve their liquidity during the ongoing Covid-19 crisis.
Fashion
Macy's CFO to step down after just under 2 years

Macy's CFO to step down after just under 2 years

The department store operator announced on Tuesday that EVP and chief financial officer Paula Price will be leaving the company as of May 31, 2020, and revealed that it has begun an external search for her replacement.
Fashion
Luxury groups dip into own pockets to aid employees in Covid-19 crisis

Luxury groups dip into own pockets to aid employees in Covid-19 crisis

Luxury groups like Chanel, Hermès, L’Oréal, Tod’s and OTB are all engaged in the war against Covid-19, with financial initiatives designed to protect their employees in the midst of the crisis.
Luxury
Maria Grazia Chiuri finds a safe space to create with la famiglia in Rome

Maria Grazia Chiuri finds a safe space to create with la famiglia in Rome

At a moment of compulsory cocooning due to the curse of Covid-19, Maria Grazia Chiuri, creative director of Christian Dior, has been doing things very much in the Italian way. She hunkered down with la famiglia in Rome.
Fashion
UK luxe consumers are buying bags and sneakers online during crisis - report

UK luxe consumers are buying bags and sneakers online during crisis - report

Consumers are continuing to buy luxury items during the international lockdown with online sites in Britain seeing particular interest in designer handbags and expensive sneakers, a report said on Tuesday. 
Fashion