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Paul Smith pulls out of Russia

Paul Smith pulls out of Russia

​Paul Smith has admitted it was a “mistake” to continue trading in Russia, albeit through a franchise partner. The global fashion giant is now closing its two branded stores, on Moscow’s Red Square and in St Petersburg.
Luxury
Kering names Raffaella Cornaggia managing director of Kering Beauty

Kering names Raffaella Cornaggia managing director of Kering Beauty

Kering said on Friday it was entering the cosmetics business, with the announcement that it has recruited seasoned Estee Lauder executive Raffaella Cornaggia to head the push into the new segment. 
Luxury
UK retail footfall recovery continues as office workers boost high streets on weekdays

UK retail footfall recovery continues as office workers boost high streets on weekdays

​Footfall to UK retail destinations was up 12.5% in January, according to the latest BRC-Sensormatic IQ data. But while it rose, it was 2.6 percentage points down on December.
Fashion
Investor Ryan Cohen takes stake in Nordstrom

Investor Ryan Cohen takes stake in Nordstrom

Activist investor Ryan Cohen is racking up a sizable stake in Nordstrom and plans to urge the department-store chain to make changes to its board after a decline in share prices, the Wall Street Journal reported.
Luxury
Cristina Betts bullish for Iguatemi, explains the Brazilian giant’s future M&A roadmap

Cristina Betts bullish for Iguatemi, explains the Brazilian giant’s future M&A roadmap

This past week in Paris, Brazil’s most important luxury retailer Iguatemi feted its rebound from the pandemic, as its CEO Cristina Betts explained its M&A plans and predicted double continued digit growth in 2023.
Fashion
London Fashion Week announces final February schedule including Lee's Burberry debut

London Fashion Week announces final February schedule including Lee's Burberry debut

The British Fashion Council has released its London Fashion Week schedule, taking place 17-21 February. Top billing goes to British luxury brand Burberry on Monday (20th) under the new creative direction of Daniel Lee.
Fashion
Martine Sitbon launches new Rev ready-to-wear line

Martine Sitbon launches new Rev ready-to-wear line

The iconic French designer of the 1980s and 1990s is back with a new fashion project. A collection called Rev inspired by her archive pieces, which will be unveiled at the next Paris Fashion Week.
Fashion
Prada tops Lyst Index for first time, Saint Laurent bag is top product

Prada tops Lyst Index for first time, Saint Laurent bag is top product

Prada hit something of a low just a few years ago due to the pandemic. But its impressive recovery was underlined on Thursday as the latest instalment of the Lyst Index showed it as the hottest brand in the world.
Fashion
Care & repair arrives at Net-A-Porter, Mr Porter and The Outnet in The Seam deal

Care & repair arrives at Net-A-Porter, Mr Porter and The Outnet in The Seam deal

​In another sign that repair is one of the key trends for 2023, YNAP said its in-season and off-price e-tailers Net-A-Porter, Mr Porter and The Outnet are launching their first dedicated customer care & repair offers.
Fashion
Source Fashion's seminar programme includes Alice Temperley, Boohoo, F&F

Source Fashion's seminar programme includes Alice Temperley, Boohoo, F&F

Source Fashion, the UK-based international sourcing show, has announced its line-up of international speakers, designers, industry professionals, experts and brands for the 12-14 February event at Olympia London.
Fashion
Landlord Shaftesbury links with Good On You for West End sustainability drive

Landlord Shaftesbury links with Good On You for West End sustainability drive

Central London commercial property landlord Shaftesbury is to partner with Good On You, fashion’s source for brand sustainability ratings.
Fashion
La Maison Couture opens Selfridges pop-up featuring nine ethical jewellery brands

La Maison Couture opens Selfridges pop-up featuring nine ethical jewellery brands

London department store Selfridges and ethical fine jewellery boutique La Maison Couture have partnered to launch ‘Selfridges’ 2D Energy’, a nine-brand pop-up campaign of creative talent running until 26 February. 
Luxury
UK's competition body investigates Richemont-Farfetch deal for YNAP

UK's competition body investigates Richemont-Farfetch deal for YNAP

The UK’s Competition and Markets Authority (CMA) is looking into Farfetch’s purchase of a stake in Yoox Net-A-Porter, owned by Swiss luxury goods group Richemont, claiming it might reduce competition in the UK market.
Fashion
Louis Vuitton moves up a gear with its collaboration with Yayoi Kusama

Louis Vuitton moves up a gear with its collaboration with Yayoi Kusama

Launched at the beginning of the year, worldwide and on all media platforms, the collaboration with the Japanese artist is creating an unprecedented buzz for the luxury brand.
Luxury
THG partners And Digital to scale and accelerate Ingenuity offer

THG partners And Digital to scale and accelerate Ingenuity offer

​THG Ingenuity has inked a strategic alliance with And Digital, the software engineering firm, “to accelerate digital transformation, help brands bridge the digital skills gap and unlock the potential of commerce tech”.
Fashion
Shop price inflation rises again but fashion is down due to clearance sales

Shop price inflation rises again but fashion is down due to clearance sales

​Shop price inflation continues to rise, despite hopes that it would begin to ease soon. The latest BRC-NielsenIQ Shop price Index for January showed it acerbating to 8% from 7.3% in December.
Fashion