The trading environment may have been volatile but luxury giant Richemont still managed to see net profit rising almost 40% in the financial year to the end of March, beating forecasts by a wide margin.
In Q3 of the current financial year, closed at the end of January, the fashion e-tailer recorded a 47.5% growth in sales, which were worth €164.8 million. Sales in the year’s first nine months grew by a solid 36.2%.
Fast-growing sports label Castore has expanded its McLaren deal to the car marque's Forumula One team. The brand is adding the important new element to its link-up after the launch of their first collection last year.
Covid-19 has boosted e-tail, especially for multibrand sites and leading luxury labels, according to a study by Bernstein for Altagamma. An evolution that means other labels need to rethink their commercial strategy.
The German luxury e-tailer announced on Wednesday that, as part of its aggressive expansion strategy in the U.S. and Canada, Heather Kaminetsky will be joining the company as president for North America on June 1, 2021.
Prada, Givenchy, and Marine Serre are just some of the labels that will be available on this new luxury platform aimed at African consumers, alongside local labels such as Rich Mnisi, AAKS, and Imad Eduso.