Michael Kors has reached a deal to buy its smaller luxury segment peer Jimmy Choo for almost £900 million, well above the £800 million that was expected. It plans fast expansion and a move into new fashion product areas.
The fashion company is combining its brand and go to market marketing teams into one department, to be led by Vincent Jeanniard, Head of Global Marketing, assisted by Rob McIntosh as Chief Brand Officer.
VF's second quarter revenue increased 2% from the prior year and total revenues and net sales for the 6 months ended in June were flat. The company updated its fiscal 2017 outlook and expects $11.65 billion in revenue.
Alabama-based Hibbett Sports, Inc. is trying to salvage falling sales by launching an e-commerce site. The company will report its Q2 earnings next month but anticipates announcing a 10% drop in quarterly sales.
Italian eyewear group Luxottica is on track to meet full-year targets and win regulatory approval for its planned merger with France's Essilor, it said on Monday, after its first-half underlying operating profit came in just ahead of forecasts.
A majority of retail executives are optimistic about the 5-year outlook for the US fashion industry, however, the percentage has fallen from 92.3 per cent in 2016 to 71 per cent in 2017, as per a recent study.
It seems to be the season for speculating about who is (or isn’t) bidding for which company and the latest rumour to emerge is that Investindustrial is on the shortlist to buy cycling specialist Rapha.