Luxury conglomerate LVMH has acquired a stake in Madhappy, the American direct-to-consumer casualwear brand, via LVMH Luxury Ventures, an investment vehicle with the group that previously bought into Gabriela Hearst.
Louis Vuitton owner LVMH on Wednesday reported better-than-expected revenue growth for the third quarter, in spite of months of unrest in Hong Kong that have put off tourists and forced luxury labels to shut stores.
The recycling deals big names are striking with charities and resale firms have been coming thick and fast and the latest is from Farfetch, which combines resale and charity in one and helps the consumer too.
Last week-end, at the Atelier Richelieu in Paris, the French luxury group brought together 80 developers and high-tech experts for a hackathon themed around software solutions dedicated to sustainable fashion.
Chanel is working on a new operation in the leather sector, and is about to finalise the acquisition of the Degermann tannery, a calfskin specialist, as Degermann itself confirmed to FashionNetwork.com.
Following the inaugural edition of the Fashion Trust Arabia Prize this year, the organization has revealed its program for 2020, announcing the addition of an advisory board and a new award for young talent.